I don't think this is fair, but maybe the people you are talking about are more lazy than me.
Firstly, I always go for the non-custodial wallet at first if I can. I don't have time to wait for you to sign up for an exchange and wait 48h due to regulations.
But the problem is that most people would rather jump to the "where do I go to buy it myself?". They don't want to sit with you, they want some homework that they may or may not do and walk away.
The other thing is what do you recommend? I would personally recommend robosats for starters and bisq for larger buyers, but it is always disheartening to see people behave like any small extra steps they need to take is too much, while if a regulated company asks for their first born, they'll happily ask where to sign.
How much of the risks do you explain? You should never mention bitcoin in the reference when sending cash to another peer. Worst case, you get yours and your peer's accounts closed. That is scary AF.
In the UK, robosats is super unpopular, but in the EU it's great. So if you have Wise or Revolut, its easy to get you on KYC-free bitcoin, but if not, its not so easy and then you get questions like "why am I doing things that are controversial here?"
As simple as it sounds to show someone to use the objectively most frictionless way to buy bitcoin, it is subjectively more friction for most people and you find yourself trying to radicalise this person in order to convince them that giving away your personal and private information is not frictionless and using anonymising tools is a reusable skill that is hollistically much more frictionless.
Imo an extension is very primitive, but it was the first attempt. Nsecbunker is better.
No no, the best framing is:
1 dollar just went from being worth thousands of sats, to hundreds of sats. GM.
I'm all in and I finally am worth £10 🍾
Okay, we can bring it back down then.
Imo, nsec bunker fixes this but client support is not there yet.
Nostr clients are not Google or FB. They do not take control of your keys, do not take control of your account and therefore cannot abuse your trust.
In fact many websites do exactly what you were saying by implementing social logins. Let a tech giant handle authentication and user gets to manage less usernames and passwords... win win.
Because then you are instead trusting the website with your nsec.
Websites probably don't want the accusation that they are abusing that trust so they refuse to take your nsec directly.
#Amethyst user here, hi 👋.
I expect it is, yes. Any conversion of bitcoin to anything else, be it fiat, another crypto or some purchase, is a taxable event.
Porkbun now uses Coinbase's Commerce payment processor.
What is a good privacy preserving domain registrar that I could move my domain to that accepts bitcoin (over lightning ideally).
> Paying with Bitcoin
>
> To pay with Bitcoin, you'll need to use your Coinbase.com Bitcoin balance. Bitcoin payments from third-party exchanges and self-custody wallets aren’t supported.
Nuance: they can do this if you use their recovery feature.
That said, I agree with the people here... their motive is to make money and capture the NPC's in the market.
They leaked personal information and their customers faced the consequences, and their customers are not prepared to deal with the consequences because Ledger keeps them bubble wrapped instead of motivating customers to educate themselves.
The recovery feature will have consequences and many of their customers will face them while Ledger stands by and declares that the risks were clear to anyone who read the small print.
If you are looking to buy something for someone else, it is like buying them a semi automatic gun without any safety training. They will shoot themselves in the foot because they will take the path of least resistance and click all buttons that pop up and turn on all convenience options available to them without considering what their tradeoffs are.
Only thing I can think of is tax efficient vehicles. But then these things have limits in how much of your wealth you can contribute and what things you can invest in or hold.
An interesting question on Reddit. (I'm permabanned and cba to create another account since they seem to be able to track if you create another account even when using VPN)
> Stealing your wealth no matter what
You buy bitcoin, price goes up, you sell the bitcoin for a profit. Government takes 30 or 40% of the profit through "realized gains tax". Since the whole point of investing in an asset like bitcoin is to prevent them from stealing your wealth via inflation of the fiat currency, it seems like "realized gains tax" is just the government saying "F*** you, we are going to steal your wealth no matter what."
>
> I know there are loopholes that rich people with expensive lawyers can use to get around this stuff, so it's really only hitting the poor or those who are unknowledgeable.
>
> Am I missing something here?
The only thing I'd mention from a practicality point of view is how much do you lose in Capital Gains vs in inflation?
CGT is typically about 20% but it varies based on your country and laws.
It is also 20% on the profit only, but let's assume the worst.. you were forced due to lack of documentation to report your cost basis as 0 and you made no profit.
Then you lose 20% of your wealth when you withdraw.
But if you keep it in cash, you make no profit and lose 10% per year compounding. Assuming real inflation of 10% per year.
After 2 years you lose 21%, after 3 years you lose 33%.
So you only need to hold for 3 years to guarantee that you suffer less losses than inflation.
The government will take, but a logical mind will identify how to legally reduce what they take from you while staying within your risk tollerance.
It already been back 😅 this is old news. Unless they added more rib?
But many still do, a very good example is the prohibition where many just went underground.
Never 100% adoption until the alternative collapses or the government consedes and capitulates.
They will stand on the shoulders of giants, but only when their ego allows them to. Privacy and self custody tools will improve in the meantime.
Eventually, the alternative will be more inconvenient. Not today, but in the future:
- Bitcoin will be necessary because it is the only way to keep up with your neighbour.
- Governments will overreach and declaring everything will cost you dearly while no one else does it.
- The effort to protect your bitcoin activity will be less than the consequences for not doing it.