Thank you so much! Clarified.
Wanted to zap. but did not work.
I will try later again :)
Discussion
What if I send it into a cashu or fedimint?
It totally depends on your expected privacy:
1️⃣ Exchange knows your stash + spending
2️⃣ Exchange knows your stash but not spending
3️⃣ Exchange knows nothing
To reach 2️⃣
- Mixing to cold storage
- Mix while spend
- Spend via cashu/lightning
- Send out to own address via lightning/cashu (I don't know Fedi yet)
(Cashu has bigger privacy guarantees as lightning in general)
To reach 3️⃣
- Buy p2p without centralized exchange
For option 3, assuming your money is currently in a bank, bank knows you are transferring potentially large amounts of funds to whatever payment method you are using to by coin.
- You can buy in small increments
- If you buy p2p, you will wiretransfer to individuals which could be that or other things
- I generally think you shall not use your daily bank anyway for this not to risk that
I generally think it's a cup half empty vs half full situation. If I buy small amounts via an exchange, and immediately spend to a mint, then at least things stay consistent. If I buy small amounts kyc free, I could be buying from a known criminal. That could look even more shady. Also, why do I need buying bitcoin to be kept a secret? As long as the coins lead to a mint and disappear, what's the diff? Buying bitcoin is not a crime.
I think this totally depends on individual perspectives.
Depending on your view of the future, your expectations of it, you might want to hide this info. 🤷♂️
vires in numeris
Fortunately, using a mint to get started is the easiest way to onboard people.
UI is getting better for sure.
I am also trying to make a small doc/article to help people use the benefits of bitcoin.
I think UX and comfort matters a lot.
But don't forget to learn history too 🫡