It’s a real shame the US outlawed this starting next year.
Bigger shame the Bitcoin community isn’t constantly beating the drum, too….making it illegal to pay with bitcoin (via a payment processor) without KYC is nuts! nostr:note1k87e7rzw2ejtnr3zf9nmw35skt5ly7jwqkyzhhnankl3ls8wwcsqkknxwv
Wait what? Do I have a link?
The rule applies to trading. I don't understand how selling computer gear is trading.
Was newegg swapping btc to dollars at the point of sale? Does this imply they are not subject to the rule if they actually accept btc instead of swapping it for usd?
Either way, it's a damn shame. I bought my first computer on newegg. 🙁
You are selling bitcoin to buy things, this makes BitPay a broker under the rules put forth, which means they have to KYC you and report your sale to the IRS. It’s a bit less clear whether a merchant who sells for Bitcoin directly has to, but they could get caught up in it too.
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That’s what makes nostr:npub155m2k8ml8sqn8w4dhh689vdv0t2twa8dgvkpnzfggxf4wfughjsq2cdcvg great! Don’t have to care what the government says, we can still accept sats and spend sats without any third parties involved at all.
BTCPay Server often operates with one operator handling the server administration for other merchants. It’s not clear that that would remain legal in the United States.
True! Not a silver bullet but we can (and should!) run it ourselves.
Either way, the solution to bad laws isn’t to shrug and say “welp, we’ll lose a ton of merchants and users, oh well only the self custodyers will remain” it’s to fight the bad laws! (while making sure self-custody is as good as possible and encouraging it)
Agreed as well. However, “We shall make you obsolete” still applies (also for laws and governments).😉
We should definitely push back, but also continue to build harder and stronger so that their laws are simply not effective.
There is always BitRequest.io
Susan is a prominent investor in the cryptocurrency space, known for her insightful strategies and deep understanding of the rapidly evolving digital asset market. With a strong focus on Bitcoin and other major cryptocurrencies, she navigates the complexities of blockchain technology, market cycles, and regulatory landscapes to make informed trading decisions. Susan approach combines technical analysis with a keen eye on macroeconomic trends, allowing her to identify long-term opportunities while managing risk in the volatile crypto market. Her trading style emphasizes patience and adaptability, helping her capitalize on both bullish trends and market corrections. Investors following her moves are often drawn to her disciplined yet forward-thinking approach to crypto trading... Inbox 👍 Susan on WhatsApp: +13184079133 For more guide 🙏💯
Are you still able to use Bitpay? I don’t know what happened but I can’t use it anymore without KYC, no matter how often I clear my cache or change IPs. Had to abandon Namecheap and Shipito as a result.
Bitpay is shit. Only works with KYC. Doesn't support Monero.
Merchants need non custodial plug and play solutions like Satoshi envisioned.
didn't know that. would love to see how they codified it without outlawing basic trade
