The KYC process when you exchange fiat for bitcoin is a violation of privacy.
Custodial mixers and CoinJoin can help restore your financial privacy, but can also make exchanging back to fiat difficult in the future
Take your privacy back with Unkyc My Bitcoin.
We're a new service that allows you to buy hashrate and mine bitcoin at scale.
- You get your KYC stack off the books at current market value and earn new (kyc free) sats
- 10 PH/s to 100 PH/s hashrate P2P, from mining farm to your mining pool account
- Non-custodial (no kyc required)
- Your funds held in on-chain escrow
- Accurate per-share billing
Fair pricing. Our fee is waived for the first 21 people who sign up today.
Thanks for reading all the way, Team UnkycMyBitcoin
Alwaaays watch out for SCAMS lads! It seems like non-kyc ads are the new marketing trend
We're a new project. Not a scam.
Oh very convincing. You just confirmed it is a scam 😂
why does your project has no credentials or privacy policy, whole page looks dodgy to me, innit?
We're launching in 2024. Our website is a placeholder while we build the service.
always good to have at least some information, looks dodgy and i wouldn't enter my mail adress
Fair enough. Thanks for the feedback.
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Scammers love to prey on the paranoid 😄
👻👻👻
Second this. I would be very hesitant to use something like this.
Has anyone tried this?
I do this in practice using rigly.io when im able to score decently priced forward hash rate. Assuming they are using fpps pools, you are gonna lose 30-40% of your bitcoin at current hash prices for the cost of this service. Youd be so much better off selling your kyc back to CEX, buying new corn on robosats. Probably be faster too.
I'm familiar with Rigly so I was wondering if this is te same model.
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Open LN channel, Send over LN, close on the other side - boom done, very little risk if done properly.
I wouldnt take chance with you.
Exactly
😂 so funny... no-KYC asking for email signup, jeeeezzzz
This is very likely a scam.
Actually 100% sure a scam
"can also make exchanging back to fiat difficult in the future" Wouldn't it be nice if this step became unnecessary?
https://rigly.io/
gfy.
This issue is somewhat fixed by lighting.
so you are basically selling hash?
Its a good idea, but KYC is for life.
I will consider using this option instead of coin joins.
Nah, coinjoins (JoinMarket, Wasabi Wallet) and / or physical miner at home.
Good
So it's a "I give you KYC bitcoin, you give me non-KYC bitcoin" service with extra steps.
Why all the fancy steps with hashrate-lending? Keep it simple. Just do the straight 'KYC for non-KYC swap with some premium" service without unnecessary bullshit.
The good old mining scam.
Was just thinking of doing this for some of the people close to me. I run miners and dont mind them paying me to get non kyc btc. I just use the cash to pay bills or just use the kyc btc and sell it only for my bills.
Interesting approach by Unkyc My Bitcoin to sidestep the KYC process. It seems like a novel way for those concerned about privacy to stay involved in the Bitcoin ecosystem. However, I'm curious about the long-term implications and legality of this method. I think anyone interested should definitely do their research and understand the risks before diving in. It's great to see innovative solutions in the crypto space, but caution and informed decision-making are always key.
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Or you move it to another address shortly after buying, giving you plausible deniability and no real tax impact?
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thats a good way to put it.....or leave the country
Right. I think the idea above is you buy hashrate and take the tax event, then when you mine it is on you to report it.
I can also see how different mining payouts could impact the move to a no-kyc stack. Eg potential to hit a luck streak on a PPLNS pool.
(Also, I’m not an accountant)
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I don't see a problem. Use a throw away email and a fantasy name :-)