Replying to viper_1

Understood- I am just veering off from the privacy and into what can be done in a KYC world.

Assuming all KYC transactions can and will be linked to person A’s initial buy as you stated.

Is it still possible for person A to easily divide the coins then ….

1) render themselves presently unable to access the coins (such that they honestly cannot access and no state actor pressure or other pressure can change that)

2) yet ensure they will recover that access over time incrementally

3) and similarly grant that future access across space to heirs or friends?
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Daedalus 17h ago 💬 2

I think I understand what you're getting at, but I'm not sure with just Bitcoin if there's a way to lock up funds on chain until a future date or something. I also don't know what attack vector that really defends from, you're better off just not having any evidence that you own Bitcoin from any threat actor. Perhaps someone else can weigh in more.

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viper_1 6h ago

Thanks

I am assuming there are a lot of already KYC bitcoiners on Coinbase.

Google cannot verify but says Coinbase holds 1 million. Add owners from whatever other kyc places (PayPal?) and it must be a lot.

I would imagine (I do not know I am just speculating) that once person A is known to have _had_ bitcoin then chain analysis is just one technical way to find coins.

Extortion would be more direct.

I think the boating accident phrase is funny but fragile and unlikely to endure under pressure.

It would seem there is a role for openly - even on chain - formalizing some process like the above whereby the owners demonstrably lose all access now with intend of slow recovery across time and space.

Extortion seems to be an impatient process.

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viper_1 6h ago

Also when I wrote extortion I suppose I am writing about “mundane” extortion. Less three letter agency stuff or wrenches, more divorce lawyers and slip and fall schemes. Or Person A’s landscaping biz goes bankrupt but the judge thought the LLC paperwork was misfiled and opened creditors a door to Person A’s personal funds.

Also for the record I am not being dismissive towards the financial trauma of boating accidents, I am very empathetic, having had several myself.