Someone in the circle or family friends who is extremely fiat rich cannot access his accounts because of KYC and and and..
I said to this dude at 16k - put $250k into BTC and let it sit - obviously he didn’t and now he sits with paperwork issues..
Bitcoin fixes this!
#bitcoin #nostr #freedom
The exact same problem can occur when trying to use Bitcoin though...
Not in this country.. if he listened and followed my instructions..
The reason they do it is they are scared of a bank run..
Obviously KYC platforms can in theory stop the withdrawal of BTC but if you smart you drip feed into the exchanges..
Side note.. all the money is taxed so it’s not like there is a possibility of tax evasion or something..
Yeah, but couldn't your relative have drip fed his money from his bank too?
That’s what I told him to do.. he didn’t listen and now he has no access to his accounts until they are satisfied with paperwork.. basically debanking him until he agrees
