#[4]
Where is this happening? Kyc bitcoin is where it’s happening
Where has this happened? Every kyc exchange on earth
China has had several bans on bitcoin; has this happened there? Yes they had to destroy their mining equipment at some point, which is in fact a form of confiscation.
What gives you cause for concern that this will happen? Executive order 6102 passed 90 years ago
I use sats as electronic “cash” just like satoshi explained it and Samourai wallet lets me achieve that because there are no other equivalent stack with postmix tools.
If you carefully read Satoshi's white paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System" you realize that we are increasingly in a world where we are taught to be suspicious of cash, that those who choose to deal primarily with physical cash are shady at best or criminals at worst. Make no mistake, this is a war, and the victory condition is a state where ALL transactions are tied to an identity that leaves an audit trail for law enforcement and tax authorities.
The war on cash is a real thing. The benefits of a cash free society are too great (from the perspective of central bankers and the state) and make no mistake the war on cash is a WAR ON YOU!
Bitcoin represents a Serious threat to the war on cash. Without firm control the central banker vision of a cashless society can be severely undermined with Bitcoin.
Now Satoshi's white paper title, p2p electronic cash brings system that Satoshi described as electronic cash and it was successful - it created the conditions for an electronic analog to physical cash.
For the first time ever, data could be cash. And data is analogous to speech, and speech always wants to be free.
Unfortunately from the very early days Bitcoin has been painted as "a better money" but this is flawed and why #Bitcoin is being actively attacked in the war on cash, tied up in 'Anti Money Laundering' regulations.
There are no 'coins', no 'notes', no 'currency units'. There is only a chain of digital signatures. There is no issuance of currency. When a new block is found a new special digital signature is created. The signature announced publicly to anyone who will listen.
They are no wallets because there are only keychains that hold public/private key pair data.
Text. Data. Speech.
Why are you so certain that this won’t happen because in China that didn’t happen? There was an executive order 6102 not long ago signed by us president 90 years ago.
Ok fine, but your privacy at stake isn’t it because of convenience also I don’t know if Bitcoin is money.
I believe there is a flawed concept of equating Bitcoin to money. By framing Bitcoin in this way is to let the enemy choose the battlefield. If Bitcoin is money you eventually accept that it must be regulated and controlled as all money is. Bitcoin isn't money and isn't cash. Bitcoin is an entire system, a system for creating the conditions of physical cash, electronically.
Ok so in other words if a state knocks on your door for your kyc sats transaction you’ll happily comply because of convenience?
🤔 I thought bitcoiners were about routing around the state and not finding excuses for why they no longer have the guts to do so, Isn’t this the truth?
It’s not about being paranoid, in
Satoshis white paper title, p2p electronic cash , this system Satoshi's electronic cash is successful because it created the conditions for an electronic analog to physical cash (utxo). For the first time ever, data could be cash. And data is analogous to speech, and speech always wants to be free.
Why would one want to id yourself onchain forever that’s not what bitcoin is about.
Yes they know who you are inside their exchange. But when you spent from that exchange your utxo could potentially be tied to your identity by some other entity who will observe the chain. And it’s not about losing some sats you don’t care to lose because it’s a small amount etc. it’s tying your identity on chain. Linking utxo to your identity.
I understand that but how are you funding wallet of satoshi (custodial wallets) matters. That’s an onchain foot print that chain analysts can observe and most plebs will fund it by directly spending from their exchange wallet. Hence giving up their id known to an exchange that they fund it from to custodial wallets. Why would one wants to id themselves onchain?
Custodial? What’s the point of bitcoin if you push for custodial solutions I don’t understand you?
I see a tipping ⚡️for posts on some profiles in astral.ninja but not in Damus
Ok Next time you want to do that think of me instead of random people 😆😆😂😂. I m random too
