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Laser 2y ago

#KYC shaming is the wrong way to improve adoption of #NoKYC #Bitcoin.

Instead, we should (A) accept that the overwhelming majority of #Bitcoin adoption is entering through #KYC ramps and (B) encourage plebs to start their own #NoKYC stash as part of their #Bitcoin journey.

Here's how I like to frame things -

It's a bad idea to register every single sat against your legal identity. It's never too late to start an unregistered stack of sats for your household. Start one now.

https://nostrcheck.me/media/public/nostrcheck.me_6917812739808265441694021391.webp

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Discussion

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kidwarp 2y ago

This has always been the way.

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Vyram Kraven 2y ago

I don't even know what kyc or no kyc means?

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WARTIME PSYCHOPATH™ ☣️⚔️ 2y ago

Know Your Customer. Like KYC AML laws require exchanges to collect ID SSN etc

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Vyram Kraven 2y ago

I see. How would one turn unregistered sats into cash?

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WARTIME PSYCHOPATH™ ☣️⚔️ 2y ago

By: - buying something directly in bitcoin

- An Exchange like Bisq or Robosats for p2p bank or electronic transfers

- p2p(person 2 person) trade

- Gift cards or prepaid debit cards

Multiple ways depending on specific instances and dollar amount. Selling $1m in btc might be harder than say $500

0c
0c2fdd55... 2y ago

Just send them to me and I'll give u the cash trust me bro i dont lie 💀

e1
BOL 2y ago

Dunno man, chop at the root too?, I reside in a country where the WEFsters are still parading about with no shame whatsoever...

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Hanshan 2y ago

It is largely wrong to frame KYC shaming in the context of adoption.

KYC shaming is appropriate because bitcoiners completely fail to grasp the danger of regulatory capture.

If they understand the peril the network is in, they will be incentivized to pursue nonKYC options.

I refuse to accept KYC, and the associated cucking of the network by regulators, as inevitable.

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XMR Future 2y ago

Not to mention the potential danger KYC puts users in once their info is inevitably leaked or hacked

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Brisket 2y ago

I used to worry about moving my funds out of bitcoin & ensuring that they were 'clean'.

Moving value out of bitcoin is not a concern anymore.

I don't regret having a KYC stack but I wish I'd started my non KYC stack sooner.

I think the circular economy establishment is hampered by KYC bitcoin (on the spending side). Everyone should have a non KYC stack.

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no₿ody™ 🧱 2y ago

I spend kyc sats on stuff no problem, they can come after me for not reporting losses of they want 😅

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Brisket 2y ago

Aye.

We're all in various stages of non compliance.

Owning bitcoin is a light form - just the tip. It's only a matter of time before it turns into an orgy of non compliance.

🤙

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BitcoinSandy 2y ago

Why’s circular economy hampered by KYC coins?

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Brisket 2y ago

People are unsure with the tax implications of spending or don't want to deal with the complexity.

This pretty much disappears for them once they get some non KYC bitcoin. I've seen interest in non KYC bitcoin increase purely for the purpose of being able to spend bitcoin freely.