Nostr

sperry 2y ago

Easy way to quickly get KYC-free sats.

Buy bitcoin on CashApp.

Generate a lightning invoice on Kraken.

Rerurn to CashApp, "paste" invoice into CashApp using the QR scanner.

Once deposit clears on Kraken (only takes a few seconds).

Go to XMR/BTC pair and buy XMR (select pay fees in xmr to leave Kraken with zero balance)

Withdraw XMR to wallet.

Now you're free to use any KYC-free spot to exchange the XMR for BTC...

Bisq

CoinEx

MexC

SimpleSwap

Swapspace

TradeOgre

Agoradesk

swap direct with Cake Wallet

Surprisingly easy, and very little waiting.

What's another simple way?

The less counter-party risk, the better....

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Discussion

kidwarp 2y ago

The only issue I have with this is now you created a "taxable event" on an kyc exchange with the swap.

I get it tho… kraken buy fees suck.

Cash app btc-> atomic swap for xmr-> use different atomic swap to LNbtc or btc cs.

Russo 2y ago

That is a bad way to have kyc-free sats, because they know that you bouth from cashapp.

Why not buy from other pleb in bisq or robosats directly?

You can buy directly kyc-free sats that way P2P.

sperry 2y ago

counter-party risk with PayPal, etc.

Russo 2y ago

you have the same counter-party risk with cashapp

An you can buy bitcoin from robosats with many forms of money, vouchers, bank to bank, there are plenty of options

sperry 2y ago

whats the counter oarty risk with CashApp, it's my money and always was, didn't wait for someone else to send fiat...

JoySun 2y ago

I'm curious why not sent directly to your self-custodial ln wallet? Why the extra step with kraken? Now one more KYC platform to deal with.

sperry 2y ago

fees and instant withdrawal

theres a bunch of ways to do it. Personally, could care less about all the KYC dialogue. BTC is KYC-free, it's exchanges and platforms that are KYC.

Really, I just wanted to deposit with lightning, lol.

rafael_xmr 2y ago

> Personally, could care less about all the KYC dialogue. BTC is KYC-free, it's exchanges and platforms that are KYC.

BTC as a permanent record has no KYC built-in but outside observers can use this information to track and monitor transactions, which is what compromises the user's privacy and potentially exposes them to surveillance and censorship.

So in your scenario you are better off going straight to Monero in a peer to peer manner or on a local face to face meetup and maybe from there exchanging to Bitcoin, or using XMR for spends directly like buying gift cards, leaving less info as possible to be stored on data centers for harvest

Mr. Sat Stacker 2y ago

Yeah in 2024 is by non kyc stacking year. I'm gonna make my buys from other plebs. I'll use mutiny or muun and sweep from mobile to a cold card.

It's gonna take a while but I'm early (as I e been told)

nobody 2y ago

Nope. Bad idea. Dumb to be honest.

Taxable event.

Playing with fire for very little to zero benefit.

And they still know who you are, non-KYC is a scam and doesn’t exist.

Good luck though.

sperry 2y ago

What are the taxes on bitcoin bought and sold at same price.

Also, I dgaf about KYC, but everyone else seems to, lol. Personally, I think withdrawing instantly from CashApp using ⚡ is pretty epic. What you do with it is up to you.

nobody 2y ago

Tax event is different than “what do I owe”. Events get reported, even flat events.

I agree on CashApp. Just bought more KYC BTC today & lighting withdrawal immediately to wallet/cold is epic.

sperry 2y ago

And why should we care about "reported flat events" ?

nobody 2y ago

Reported to whom?

I thought this was a no-KYC post. Reported tax events will show Kraken, CashApp and some other shady shit that nobody could ever figure out😉

⚡️ gTeL ☕ 2y ago

Cash app unavailable in Brazil, unfortunately.

TheGrinder 2y ago

Your money was KYCed the moment you mentioned Kraken.

sperry 2y ago

but not after I got XMR

TheGrinder 2y ago

It doesn't matter. Do you think you can push 100k through Kraken and nobody will ever ask what happened to that money? If not for tax then for money laundering.

sperry 2y ago

The only person that's ever going to ask where the money went, will be my wife, 😂.

Sergio 2y ago

More of a fees work around

nostr:nevent1qqsv9wn8gfegq0l77wvf5rcuw7qx5h5eqvspprvfjv9rhq4n7dv2dqqprpmhxue69uhhyetvv9ujucm4wfex2mn59en8j6f0qgspr59kvarcs7af5mf5kgltxy58xa95tvdpk9s7432vkxpu20sqaacrqsqqqqqpuvkt8s

Byrdman 2y ago

Strike rocks way better!💥Just send dollars to any #Bitcoin wallet instantly.😉

sperry 2y ago

you can do that with CashApp, too, but everyone cries about KYC... This was an easy, cheap fee way to acquire XMR to get KYC-free bitcoin with.

Byrdman 2y ago

The difference is you are buying it on Cash App...no purchase necessary using Strike. Just send dollars to you #Bitcoin Wallet.👀

You simply cannot do this with Cash App as it is not a lightning app per se.😁

. 2y ago

Cash App & Strike are KYC

Byrdman 2y ago

Strike works on the Lightning network...doesn't matter. Cash App is not the same at all.

. 2y ago

the op was about buying without kyc, but both apps mentioned are kyc

Enki 2y ago

I was gonna say afaik cash app wont let you withdraw any btc without kyc and kraken is kyc......this does not compute. Unless im missing something here.

Byrdman 2y ago

And with Strike there is no buying necessary.

nobody 2y ago

I didn’t even know Kraken had Lightning ⚡️ 🧐

sperry 2y ago

one of the few exchanges with it AND XMR. Kraken is a gem, IMO.

nobody 2y ago

Thank you for that info, never knew.

Kraken US I believe is diff from Kraken World Wide Version if I say that correctly

ภ๏รtг๏ภคยt 2y ago

Cashapp - tradeogre.

Winning combo.

But, why not just use XMR itself, your already cleaning KYC bitcoin with it...

Just use XMR!?

Hear me out here.

Nostr, but with XMR? 🤔

sperry 2y ago

They're releasing a nostr client called Topaz at beginning of 2024, with Cake wallet integration.....

ภ๏รtг๏ภคยt 2y ago

🤔 where can I learn more?

sperry 2y ago

nostr:npub19mc0en74540rd0ytuwjjtswwjleqa2a2jnnfmqh7hltyrk2gps6skpz875 was building the client, but I believe the Cake Wallet team is at the helm now. Was told Q1 or 2 of 2024. Cake teased about lightning integration in April, as well.

Tanner Silva 2y ago

I continue to be the spearhead of nostr development for the cake team. Nothing has changed there.

The vision is fairly lucid and the tech will come together on some timeline, still hard to predict what that timeline looks like. There are a lot of moving pieces, almost none of which have to do with nostr itself.

We were running LMDB on the client side long before anyone else had it in their projects, so I look forward to showing everyone what comes next. Seems like a lot of people are still catching up on this front.

But of course, I haven’t shipped anything yet, so I can’t get too prideful. We won’t ship anything if it doesn’t meet the bar we’re setting for ourselves internally. It will be unique.

Tanner Silva 2y ago

Frankly, have been a little turned off by the community. The vibe has been discouraging and has shifted my priorities slightly to other things.

DM’s are a big issue in nostr, I’ve been trying to lead by personally finding NIP-42 development on popular relays, was met with some nonsensical and inarticulate pushback. Toxic nonsense, to be honest.

The gift wrapping situation is also not great.

But the project is not dead, we push forward.

Tanner Silva 2y ago

*funding

rafael_xmr 2y ago

nice image

zhenya 2y ago

Without getting to the merits of the rest, why buy btc on cash app then go to kraken?

Why not consolidate that “on-ramp” step to one venue?

zhenya 2y ago

Fiat to btc on cashapp

Btc to xmr on kraken

Xmr to kyc free btc on “bisq”

We cross the spread/kyc’d thrice

Fiat to xmr on kraken

Xmr to kyc free btc on bisq

Twice.

Fiat to kyc free btc on bisq

Once.

Am I missing something?

sperry 2y ago

wait times and 3rd part risk.

CashApp instant transfer > Kraken fiat deposit wait times

zhenya 2y ago

I see so the idea is cashapp lets you get out of btc faster than kraken because the transfers are faster. By using cashapp to kraken to a wallet you could be in your wallet faster than straight through kraken to a wallet?

zhenya 2y ago

And is the idea this is better than usd to non-kyc directly because xmr/btc on a non-kyc exchange is tighter spread? So you pick up kyc on a few entities as a trade for tighter spread and better pricing?

Otherwise I don’t see why add the extra steps.

Enki 2y ago

Nothing about this is kyc free.

sperry 2y ago

as kyc free as coinjoins, wasabi mixers and the like, and easier. no mess with wait times for fiat deposits and avoids BTC withdraw fees.

Enki 2y ago

If you have given your ID to any of these platforms, you have been KYC'd and your trasactions will be tracked. Using LN to hop from kyced platform to kyc platform is not the privacy silver bullet I think your assuming it is.

I genuinely think you don't understand what you're talking about.

sperry 2y ago

You don't comprehend what I'm saying. Of course you're KYC'd on CashApp and Kraken, its what happens after you acquire the XMR. dgaf about the privacy between CashApp and Kraken. This same scenario could be done from strike to kraken, too.

If you know of a non-KYC exchange that has lightning for XMR, you could use that, too.

The KYC bitcoin dialogue is so tiresome, just use XMR. You're gonna have to give ID to return to fiat, anyway, unless you're doing gift cards or something stupid.

If you're never selling, then it's all just noise.

If you do sell and are avoiding taxrs, you're a criminal.

Enki 2y ago

Okay, so then calling it KYC free is misinformation. Chain swapping to XMR is a vaild strat for some forward looking privacy but again lots of ways to shoot yourself in the foot there to (ie swapping back to btc to fast)

The entire point of avoiding KYC is to avoid having a record that you ever had anything to do with any cryptocurrency to begin with. So while this particular strategy might clean your coins and give you some forward-looking privacy at the end of the day there's still a record on both cash app and kraken that you have bought and swapped cryptos around.

Anti Spasti 2y ago

Coinjoins have nothing to do with KYC-free.

A coinjoin/mix does not delete your user-data and trades in the database of Cashapp/Kraken/Coinbase/Bitstamp.