10 sats \ 2 replies \ @DarthCoin 1 Mar 2023 \ parent \ on: What’s the biggest mistake people make when buying bitcoin non-KYC? bitcoin
- Define the term "privacy".
- It really doesn't matter how you acquire BTC. Matter if you start creating a Bitcoin circular economy with it (aka never go back to fiat).
Are KYC exchanges bad? Sure they are, but not because you buy BTC from them, but because you are giving them your personal data!
Your data in their hands and 3rd party hands is the danger, not your BTC.
This is what many people do not understand.
I really don't give a shit if a gov agency knows that I bought BTC from an exchange, but I am concerned that the exchange where I gave them them my personal data they go and sell that data to 3rd parties.
thanks @Darth!! that context helps! My thought was that it's easier to track the flow of your sats if you purchased them via a KYC exchange, but to your point, if you're spending the bitcoin and supporting the circular economy, it leaves your hands anyway and what does it matter (except the tax consequences I suppose). Thanks again - I haven't been on here long but I appreciate your posts!
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- self custody your BTC
- never go back to fiat
- support local shops that accept BTC
- work for BTC (be paid in BTC, not fiat)
- read DarthCoin's guides https://darthcoin.substack.com/s/english/archive?sort=new
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