I’d love to read about what you’re referring to regarding the individual being extradited for owning KYC Bitcoin and claiming lost access. If you could provide a reference that would be helpful.
Discussion
“The crypto investor known as ‘Bitcoin Jesus’ has been arrested in Spain on behalf of the US government on charges of tax fraud and failing to pay nearly $50 million in taxes earned from Bitcoin sales.”
Ahhh, this makes perfect sense. This gentleman didn’t play his cards correctly and has misunderstood/underestimated his government.
It didn’t take long in reading this article to see that this gentleman sold bitcoin at a gain and didn’t pay the gains tax. That’s a no no. I’ve never sold any BTC and I wouldn’t suggest anyone sell either. Spend sats but never sell, particularly at a gain.
This story highlights a different concern outside of what you presented as a concern in your earlier post.
Using a KYC exchange and paying your gains tax, as any responsible citizen should, would avoid being extradited and arrested. I think gains tax are a government scam, but that’s a different discussion.
hmm, regarding your first statement, im not sure what you mean. The point I was trying to make was that if gov can see the sat trail, we are only one executive order away from the government pulling another "you cant hold gold legally" situation. Bitcoin Jesus did a lot of not-smart things, and Im sure in hindsight he would have done a lot of things different to get the same benefit, however, it simply goes to show that they can and will track you if you are a big enough target.
Back to my first statement, buying nokyc and avoiding the surveillance discount is in everyway a better option in my opinion. Robosats offers a user friendly, privacy centered way of getting sats and the seller fees are ridiculously low considering the benefit. If you want to spend sats, nostr:npub18tcc00lqpysdsurg567dllzg7jeyr5wcyk2v6w23rx3s3ygyze2qv32nxx offers digital gift cards that you can buy with sats and you avoid the shenanigans that extradited bitcoin jesus.