I have a question as a #robosats newb - I was originally intending to buy KYC free sats with Amazon gift cards, but it doesn't seem like there is much demand for that from sellers. I see a lot of people putting up offers with Strike as a payment method. My question is, wouldn't paying via Strike (assuming I'd have to KYC w/ them) defeat the entire purpose? I'm not seeing the advantage with that...
Discussion
I had the same thought process at first. And bought Amazon gift cards with cash. But there is nothing tying your fiat payment to the Bitcoin you’re receiving. Given that your wallet host is not KYC-required and that wallet has never transacted KYC’d sats. For example I made a new Sparrow wallet to only receive sats from Robosats.
I deducted all of this myself so there may be a security vulnerability I’m not thinking of 🤔
I was kinda thinking the same thing, but I’m paranoid there’s another caveat I haven’t considered. I would think the folks who made robosats thought that through, but not 100% sure. I’d just hate to pay a premium for non kyc sats but end up with KYC anyway.
It’s not perfect but it’s more private than straight up buying bitcoin from Strike or paying yourself a LN invoice with dollars on Strike (which I think strikes (no pun intended) a nice balance as long as you’re not doing sketchy stuff with that bitcoin).
There will be a record of you sending dollars to a random person on Strike. I haven’t used robosats in a minute, but when I did earlier this year there weren’t that many sellers. I bought bitcoin from the same people a few times. Long story short, the feds can easily deduce the Strike dollar payment to a random person was likely a bitcoin txn, but they won’t be able to pin point which UTXO corresponds to that dollar payment on Strike. I like getting the sats on Robosats via LN and doing an additional LN hop (Ex: Alby -> Muun) before sending to cold storage.
Ya makes sense. Appreciate the input!