I don’t understand why everybody keeps saying bitcoin is so private and you can protect your identity etc etc etc

But every option I have researched to buy requires you to identify yourself!!

How does that work exactly??

Not that I have a problem with identifying myself in exchanges or whatever.

But is there a step I’m missing or something? To get anonymized? Why all the talk about protecting your identity??

The only method I found to buy it without giving information is an ATM, and there aren’t too many.

#asknostr #nostr #bitcoin

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It is not private if you use major CEXs to buy it. In fact, there are exchanges that do not require the KYC procedure for registration - only an email/phone number.

But as a rule, those who talk about the possibility of bitcoin remaining an untraceable currency, usually do not consider exchanges as a way to buy bitcoin. Usually they are talking about P2P transactions and offline deals. In many countries (for example, in Turkey), there are street exchangers where you can exchange bitcoin or more often USDt for euros/US dollars and vice versa, and no one asks for ID. Such exchangers are in many countries, including the bitcoin ATMs you mention.

In addition, even having a registered account on one of the centralized exchanges, you can buy bitcoin and run it through a mixer, hiding the final address of the wallet owner. You can use the so-called decentralized exchanges, where you can exchange the cryptocurrency purchased somewhere else for bitcoin and, again, run it through a mixer, and then hide it in your secret wallet.

The path of a true bitcoiner also requires a secret computer with installed bitcoin and LN nodes, which is connected to the network via the darknet, and all transactions are signed by some fashionable hardware wallet like Coldcard.

Really?😱😱 I haven’t seen any. What are some exchanges that do not require. kyc??

Do you know any good mixer?

This is a rather unpleasant topic and I will not advise here. I will only say that there are wallets that have a mixing function.

In addition list of CEXes without KYC: https://beincrypto.com/learn/no-kyc-crypto-exchanges/

+ using bitcoin mixers can be prohibited by law in your country

Bitcoin itself is private. YOU on the other, aren't.

If you use exchanges like Coinbase, CashApp, Strike - any platform asking for ID, like Primal - you'll be registered as someone who has Bitcoin. Unless you coinjoin you Bitcoin, or swap in and out from alts back to Bitcoin, there will always be a record of you on the blockchain.

If you want to get anonymous Bitcoin, there's a few ways:

1. Earn it. Sell goods and/or services in exchange for Bitcoin as payment.

2. Buy it cash from a friend or someone at a Meetup.

3. ATMs

4. Buy precious metals, cash, then exchange with someone for Bitcoin.

5. Buy USDC/USDT, move funds to your wallet, then swap for Monero, then swap to Bitcoin.

That's just the first step to getting anonymous Bitcoin.

If you want to really go the extra mile:

Buy a new device, with cash, and set it up away from your home. When you create new accounts, DO NOT link any of your personal information to it. No old emails, usernames, NOTHING. Start brand new. When you use your device, use it AWAY from your home. All of this is to prevent tracking and tracing via triangulation of cell signal which can point to you.

GL

Some recommended reading:

https://livingonbitcoin.substack.com/p/bitcoin-and-privacy-a-balancing-act

https://livingonbitcoin.substack.com/p/the-parallel-economy-how-to-build

https://livingonbitcoin.substack.com/p/sovereignty-simplified-freedom-through

How do you coinjoin your bitcoin?

“5. Buy USDC/USDT” but how do you buy without kyc

OrangeFren will help you there assuming you already have crypto. If not, just buy BTC through a P2P marketplace and then swap via OrangeFren.

Note: You should probably avoid USDT as it's a ticking time bomb— as always, DYOR

Answering the second question there- I don't use BTC so I can't offer much advice for the first beyond "use a mixer"

Coinjoin is a mixing algorithm.

Bitcoin isn't private though it's a transparent blockchain always visible to the world.

But like you say its possible to be anonymous/pseudonymous on it. Like a naked person in public with a bag over their head. I don't know who they are but they're clearly not being private.

He doesn't understand the meaning of privacy. What he's describing is anonymity (or rather the potential for it). Why do people use terms without understanding them?

Because people don't know what they know or don't know or they would know it.

I’m right here, you don’t have to talk about me as if I’m not tagged in your answer. You should know that since apparently you’re one of those knowitall nerds who still have a lot of baggage from their school years. Sleep well.

I didn't realize that I was on the conversations tab on Amethyst/Garnet (it was the first post I saw & the reply UI is similar to the quote UI when on the feed page) & I didn't bother correcting it when I did notice- my apologies if you get offended easily.

I don't see what the personal attacks have to do with my point. Your initial post was categorically incorrect. These distinctions are necessary for productive discussions to take place, not that I would expect most BTC maxis to understand that

Wait, I was referring to nostr:npub1l59ulrx34m5rle67ds8al32rs309hsl4p5nd9409cmfl55slnrqq8jq78u- what made you think the comment was aimed at you?

I thought ATMs are now KYC?

They are usually no-KYC up to a limit depending where you live.

Click a machine, click "View Details", scroll down to "Limits and verifications".

Just give them a fake/burner/freshly created email, phone number, or name and pay with cash.

Plenty of websites allow you to do this like JuicySMS or TextVerified. There are some free ones too:

https://coinatmradar.com/

Check out Vexl. No KYC and just p2p no middle man

Still didn't find nobody around me...very exciting to this app

It’s gradually then suddenly you have to talk about it. You have to tell your friends! It’s word of mouth. All marketplaces were empty when they started. Create some offers and share with others and it will start!

Few options that I know of...

**More techincal approaches**

JoinMarket

https://github.com/JoinMarket-Org/joinmarket-clientserver

PayJoin

https://payjoin.org/

**Less technical**

P2P CoinJoins via Paynyms

https://ashigaru.rs/

Fake two person coinjoin via Sparrow

https://sparrowwallet.com/

The idea behind coinjoin is liken to collecting bits and pieces of gold, smelting it down to identically shape and weighted gold coins.

The Whirlpool had over 10,000 BTC being coinjoined. Absolutely amazing.

With regards to USDC/USDT... There's trade offs.

If you buy KYC from an exchange, the exchange knows you bought the stablecoin. Once you move it to your own wallet, you can then swap to BTC via a DEX like Thorchain or Swap service like swapspace.co. The most the exchange will know is that you bought USDC/USDT, then sent it to a wallet, and then the wallet it sent it to another wallet. But it won't know that you bought Bitcoin with it.

Or, you can find someone who wants physical cash, or precious metals, and make a trade with them for a stablecoin.

Privacy and anonymity are just two points on a spectrum. You just need to figure out it is you're trying to keep private and then what you're trying to keep anonymous.

GL

_Also, for some reason, your note no longer shows up on my relays_