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Understood. And again I’m not against it and I can definitely see the value of it

To all of you holding non KYC sats I have a question. What if some day you’re in a very bad situation in which you have to sell bitcoin for fiat in order to survive (let’s say you get sick and need to sell for your treatment). How will you do that with non KYC sats? Let’s say it’s a very big amount. You’ll most likely never be able to convert that to fiat without governments raising questions where it came from.

Zach⚡️ 1y ago

You can always KYC your sats, but it’s much harder to un-KYC them.

50% of Bitcoin was mined before 2012, before there was rampant KYC. I think the risks of revealing non-KYC Bitcoin in a crisis are lower than having your stack be known to adversaries in a crisis.

But again with that said, I have a lot of KYC sats. I don’t preach about it because I’m already public about my interest in Bitcoin (potentially unwisely) and there are a lot of challenges with stacking non-KYC with regularity.

It’s kind of like not closing the door when you shit at home - 99% of the time it doesn’t make a difference, but there are situations where you’ll be caught with your pants down.

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Discussion

Humble Bitcoiner 1y ago

Hahaha great comparison

No seriously I get all your points. All of you. Thank you for all these arguments. I’m glad we at least can have an open discussion about it