💯 Would genuinely like to see more outrage at KYC.
Ma freedom money that fights the state! (proceeds to hand over every piece of fucking personal information so you can buy said freedom money painting a massive target on your back when the regulatory shit hits the fan.)
I got called a shitcoiner for swapping a little Bitcoin for Monero on a no-KYC exchange so that I could make a transaction that I didn't want my government to know about. 🤷
Lmao. Haters gonna hate. Monero will never be a store of value, but it is legitimately handy for making anon transactions without all the possibilities to shoot yourself in the foot like Bitcoin.
That's also probably a big reason why I'm such a proponent of no KYC. Just because it makes Bitcoin a lot easier to use sedonymously. If your stack doesn't have KYC to begin with, it's much easier to spend it anonymously.
I had a KYC stack of Bitcoin in one of the addresses in my coldcard until I accidentally combined the wrong UTXOs in a transaction in sparrow wallet. After doing that those two UTXOs are forever associated with each other. 🤷
*KYC-free stack I meant
This is an era where most people will only acquire bitcoin by purchasing it from an exchange. Millions of people doing this. So they’re all doomed? I find that doubtful personally
Monero and coinjoins and these tricks are used by cypherpunks who are orders of magnitude more concerned with privacy than joe schmoe, and they’re great and valuable - but we’d have to be living in a very serious authoritarian dystopia for having bought kyc corn to be some kind of death sentence
I feel like the more utxos move around and lightning/L2 activity occurs, the less confidence chainalysis models will have, and it will slowly lose its efficacy over time. So the more spending and p2p transacting, the better
Most people have nothing to hide today. That's true. 🤷
I wouldn't say never
It's an ongoing discovery process
The market is always reevaluating
Bisq is the way.
Thoughts?
The exchange is no KYC but your bank gives away all your information every time you use sepa.
It feels like semantics at this point, it's just more convenient to not have to scan docs.
My main concern with no KYC is data breaches not the government. I don't want some fuck to know my home and Bitcoin address.
I don't Bitcoin in silence, there's my name here and all, so the government won't have a hard time spotting me if they came after us.
Data breaches are also another big problem. Especially when personal information like the home address gets leaked and they see, "Oh, this person had a Binance account with 15 Bitcoin in them, and we have their home address. Let's go crack their skull until they give us their private key."
