Question: after no kyc, if you need to make a big purchase and solicitors require AML and ask "what is the source of this incoming tx?" What do you say?
Discussion
Why we need to make No-KYC coins the standard. This is the same concept as the anonymotity set - the No-KYC set. If every purchase and every transactions are No-KYC, AML will become impractical to conduct.
Too much LARPing, too little Building. If we lose, it’ll be because of the complacency of plebs. #BUIDL.
You get the same issue for cash. If I deposited 20k cash, I'd get 121 questions about where it came from, where are the receipts etc.
Fortunately I have never had this situation, but I think this is a question that should be taken more seriously.
It's a real concern for someone who wants to avoid kyc but also doesn't want to give themselves a headache in the future.
I think the only answer is record keeping "just in case"... But exploration and guidance on how to do this such that you can give records in the future without revealing more than you need to would be very welcome IMO.
Never asked these questions when buying a car, or a phone, or anything for that matters.
But yes, stop dealing with banks.