all about low fees right now
The government doesn't give a flying f*ck about you
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Get kyc-free btc while its still possible
Mine new bitcoin to get kyc-free privacy - rigly.io or Nicehash etc
Hold kyc-free bitcoin for the long term
Here's hoping for mass adoption! Part of me hopes that is a ways out though, there's still so much to build.
Unfortunately I think those approaches are security theatre
We're seeing the fiat rails close for CoinJoined bitcoin and the mixer crackdowns (Bitcoin Fog) are likely to continue
I started a project to simplify access to mining (Rigly) so people can get new bitcoin that way
But there just isn't much new bitcoin left...
Eh its all KYC bitcoin
Unless you mine new btc kyc-free, it's going to end up in one government or another's control
Sure. The state will just wait for those funds to move, then come a calling your way. That's life under KYC.
I think that's right. No direct change but potential slow blocks (+increase fees to get into fewer blocks) during subsequent difficulty adjustments while things shake out...
Related, there could be a fight across multiple mining pools for block 840,000 due to its high value to the Ordinals / rare sats crowd (same estimates are >$1M for the single rare epic sat) ... and so we will likely see block reorgs (and potentially higher fees) as the miners struggle to keep possession of that block.
I wish this post was reassuring - but it just makes me realize how rigged things are
How much of that chart is kyc'd bitcoin?
The individual can't do much when the state a) asks you to turn in bitcoin b) has your KYC info for every purchase
I built Rigly so people have a way to mine bitcoin and get kyc-free, but time is running out.
Yeah and the state will collect all the kyc'd bitcoin before its >$1M
One can be controlled, the other can't
The state is sending a message
They want as much bitcoin as possible to stay kyc'd
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That's a good start. What are you doing for no-kyc sats?