Nostr Web Client

nostr:npub1um8xz4pjtd2wd8y50rzxeufgfcyn77gwvk9k5u8emahw6f67x3zqmnzp4e I'm curious to know your opinion: no one can see into the future, but what do you think the repercussions for owning only KYC Bitcoin may be?

noKYC ⚡︎ 2y ago

The government can confiscate your bitcoin, as has happened with gold, it can invent an absurd law and charge you an absurd tax. Your exchange can be hacked and your data leaked and you become a target, all these events have already happened in history, just research.

Stay safe. 🫂

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Discussion

AlCool 😎 2y ago

Thanks for the response! 😎🙏

noKYC ⚡︎ 2y ago

👊

clambot 2y ago

The Trudeau gov't did exactly this during the convoy protests.

I'm not sure if they had the coins on a third party service, or if they were coerced into giving up the keys or what, but it happened.

noKYC ⚡︎ 2y ago

Perfect, you don't have to go far back in history to find examples.

AlCool 😎 2y ago

Was that a KYC issue or a lack of cold storage? Wouldn't they have to outlaw it for everyone but themselves? They will no doubt need it to compete with the countries that are early adopters.

noKYC ⚡︎ 2y ago

KYC

Akito 2y ago

Not a good argument. The government can just put you in prison until you give up your keys. So, from the user's perspective, you are swapping scat with shit.

nobody 2y ago

See Silk Road for reference.

noKYC ⚡︎ 2y ago

If you don't buy bitcoin with KYC you don't have bitcoin 👀