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110 sats \ 2 replies \ @TheBTCManual 23 May 2022 \ on: Any thoughts on if this is a good way of un-KYCing Bitcoin? bitcoin
I think everyone's definition of KYC might be different, for me the moment you purchase from a KYC exchange you cannot un-kyc you've always got that record to your name, and adding another meta data point with an email address via the custodial wallet seems a little pointless. so trying to do all these swaps, to just break chain analysis tracking doesn't solve the problem that all you have is deniability that you still own the coins
You can purchase KYC free sats directly on lightning in several ways that may be a better solve for your problem, you will pay a premium for that privacy though.
If your goal is just to break the path, then yes its an okish method, you can also just remove the custodial wallet step anyway, since you're using lightning, but make sure you're using your own node if you do
Withdrawing from a KYC exchange straight to your node doesn't dox it?
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Yes, but how is that different from being doxed by the custodial wallet's node? I guess both have the potential to be captured, but I mean that extra hop costs you very little if you want to add it for some reason, but I don't see much point in it. I guess it's all about who you feel would be the weaker of the 2.
If we ever get payjoins and channel factories, I think this will be a thing of the past,, but always glad to hear more people taking their opsec seriously
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