he is right. ofcourse P2P is better privacy than KYC.
KYC is non-private by default.
p2p, 3 letter athorities have to go GREAT LENGTHS AND EXTREMES to trap you for 120 dollars 🤣
Discussion
Unfortunately that’s what they do. I used to work in the surveillance tech industry.
They go to extreme lengths to get dirt on normal people, but never take action on the big criminals, because those are their bosses or their bosses bosses/friends.
the resources required to do that are not worth it for them for the amount limits availalbe on p2p exchanges.
I also worked in two different surveillance tech industries and one government surveillance body.
Now you are being naive. There is a reason they would like to surveil every single fiat transaction.
A major purpose of TLAs is to have dirt on as many people as possible to silence inconvenient people.
With the complicated and often not completely finalized tax laws on bitcoin, it’s just too tempting.
In the end the only thing they had on Al Capone was taxes.
What is private about the P2P?
You are giving your counterparty banking info and BTC address.
KYC light you give the exchange baking info and BTC address.
Both get the same info. The advantage of exchanges is that you know who has your data and it’s only one partner that needs to he trustworthy.
The downside is that it’s one partner who has all transactions.