RANT: Stop saying, ”KYC-Free Bitcoin“ \ stacker news ~bitcoin

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26 sats \ 9 comments \ @SatoshiNakanodo 24 Dec 2022 bitcoin

I’m tired of people trying to place labels on bitcoin such as “dirty coins” (ie. mined with dirty sources of energy) and “KYC-free coins” which insinuates that anonymity is evil or illegal.

This mindset is an existential threat to the fungibility of bitcoin and to the future viability of the crypto-space writ large.

It frustrates me to say I do not have a solution, necessarily. However, I would like to point out that as Bitcoiners, we should wipe these fabricated/false terms from our daily parlance. Particularly “KYC-Free” when referring to coins obtained peer-to-peer or off-exchange.

Simply by using the term “KYC-Free Bitcoin” we lend credibility to it and the idea that obtaining bitcoin without giving away one’s identity is somehow nefarious, or produces a different type of bitcoin.

I contend...

KYC is something that happens to YOU. Not to Bitcoin.

There is no “KYC-Free Bitcoin”.

There is only Bitcoin.

When speaking, words matter. Instead of saying, ”I'm so happy because I acquired KYC-free bitcoin," try this... ”I'm so happy because I acquired bitcoin today and didn't fucking KYC myself."

There’s no need for us to contribute to their false narrative.

FIN.

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1 sat \ 6 replies \ @cryptocoin 24 Dec 2022

Do you prefer we call it "bitcoin from a No-KYC method" then?

Because I will always differentiate bitcoin that is acquired from an exchange that involved me providing identity/KYC as being different from bitcoin that I acquired from a No-KYC method ... unless I've properly done a coinjoin or other obfuscation to it.

I even have different wallet software for each, so that there is not even the chance they get accidentally combined in a future transaction.

Don't @ me.

31 sats \ 1 reply \ @SatoshiNakanodo OP 24 Dec 2022

Why do you need to call it anything other than bitcoin?

When a cashier at the Piggly-Wiggly hands me dollars, I don't say, these are Piggly-Wiggly dollars or KYC-free dollars.

When I withdraw dollars from my bank account, I don't say, these are KYC dollars.

On the other hand, IF I were a criminal, I might keep two piles of cash and make a mental note of the ones the bank/government knows about.

But THIS is the narrative of those who would like to criminalize Bitcoin.

1 sat \ 0 replies \ @cryptocoin 24 Dec 2022

When a cashier at the Piggly-Wiggly hands me dollars, I don't say, these are Piggly-Wiggly dollars or KYC-free dollars.

That's because you have cash. Cash that is not easily tracked. I can't (easily) find out that you had shopped at Piggly Wiggly nor where you spent those dollars after leaving Piggly Wiggle.

Bitcoin is not the same as cash.

1 sat \ 3 replies \ @cryptocoin 24 Dec 2022

we lend credibility to it and the idea that obtaining bitcoin without giving away one’s identity is somehow nefarious, or produces a different type of bitcoin.

I call it maintaining my financial privacy. If you want to label that as nefarious, that's on you. But I deem bitcoin where I've maintained my financial privacy is most definitely different from bitcoin that has been associated with my identity.

26 sats \ 2 replies \ @SatoshiNakanodo OP 24 Dec 2022

As do I. That's why I've only ever acquired bitcoin peer-to-peer. I'm not saying you shouldn't care or keep track of your KYC stack.

I'm actually not even sure we're disagreeing about anything. Are we?

1 sat \ 1 reply \ @cryptocoin 24 Dec 2022

Ok, so I think now I get your point.

The term "unhosted wallet" was used by governments when we already had a term for that ... "wallet". That's it, it's a wallet, not an "unhosted wallet". But governments wanted to make "unhosted" be an attribute that helps with their argument that unhosted wallets are the outliers, and the ones for which regulation is needed.

And that's total nonsense.

So now (I think) I get your point about KYC-Free.

Bitcoin that has no tie to your identity is not "KYC-Free" bitcoin, ... it's just bitcoin.

And that If you have bitcoin that is tied to your identity, then that can be called "KYC" bitcoin -- because that is bitcoin with some other attribute (specifcially, a tie to your identity).

Am I getting closer?

26 sats \ 0 replies \ @SatoshiNakanodo OP 24 Dec 2022

Exactly!

0 sats \ 0 replies \ @SatoshiNakanodo OP 25 Feb 2023

There is no such thing as KYC or No KYC bitcoin, there are bitcoiners on lists and those that are not on lists.

0 sats \ 0 replies \ @01xCc 25 Dec 2022

Пусть... люди должны пройти через это... пусть говорят и обсуждают... не стоит запрещать обсуждать и говорить об этом... потом поймут... но сначала слово ..