What made me sell most of my Bitcoin a few months ago

https://controlplanecapital.com/p/what-made-me-sell-most-of-my-bitcoin

My goal with this Substack was to open-source most of my Bitcoin research and with this article, I have achieved my goal.

Excellent article I really can't find anything that's not completely accurate. I want to emphasize to those who believe their self-custody stack is safe from these attacks, and especially those with non-KYC stacks that they're coming for YOU. It won't be long until OFAC sanctions lists and regulations expand to encompass all non-KYC UTXOs and eventually all self custody. This isn't a pie in the sky doomsday scenario, it's the inevitable end when even simple coinjoins are banned and developers are incarcerated.

This makes Bitcoin extremely risky to hold long term in a self custodial and especially non-KYC manner. How are you going to dump your bags if you 1. Can't get those UTXOs on lightning (Boltz already bans OFAC sanctioned UTXOs, channel peers will be blacklisted if opened by tainted coins) 2. Use instant non-KYC exchanges (They're coming for all of them, Tradogre and Majestic bank are just the most recent examples. There are internal memos stating these exchanges as being the target. Listen to them when they tell you who they are) 3. Can't use p2p exchanges (Haveno, Bisq or Robosats) for anywhere close to the same value (who's buying non-KYC coins if you can't do anything with them but give to another person in the p2p exchange? The only reason someone would trade monero for non-KYC Bitcoin is to then off-ramp in large amounts or spend Bitcoin where monero isn't accepted or swap back. If the usage is ONLY to swap back and forth ONLY on p2p exchanges, non-KYC Bitcoin is essentially useless and we'll see a huge devaluation of those UTXOs)

In summary, I too have now dumped nearly all of my Bitcoin reserves just as you have. I now only have confidence in Monero as both long term non-KYC self custodial store of value AND MOST IMPORTANTLY medium of exchange. Its just safer and easier to buy lots of things with Monero on xmrbazaar.com and even though sites like Newegg accept Bitcoin, the regulatory risk of using it is just too grave.

Bitcoin as freedom money is dead and its a tragedy. Number-go-up greed got us to this point. The sin of greed is truly grave.

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