pull down to refresh
156 sats \ 5 replies \ @BlokchainB 28 Feb \ on: Stacker Saloon
@siggy47 you in here cowboy? After taking your advice I got a new dilemma now. Do I KYC again to withdraw the BTC I bought instead of paying my debt? Or should I sell withdrawal do an ETF to another exchange and rebuy?!?
I was listening to a podcast yesterday that discussed just what we were talking about. Of course I can't remember which one now. Basically the gist of it was that Saylor borrowed fiat to buy bitcoin. It's a double benefit. You buy an appreciating asset with a depreciating asset, and you get the benefit of knowing that your act of borrowing "prints" more fiat, causing it to depreciate even faster. As to your situation, I don't know. I'm confused myself. Confession- 2 years ago I used one of those credit card 0% offers to buy bitcoin. I knew I could swing paying it off through the term. That felt good, but I'm not recommending it!
reply
Yeah I did that too that worked out great. But I guess from your perspective KYC’ing to withdrawal isn’t a big deal?
reply
reply
Well the privacy maxis say don’t KYC with an exchange to withdrawal your bitcoin because it destroys your privacy. Buy it peer to peer to protect your identity and privacy . Because these platforms scan your ID or passport and they keep it sitting on a database that could be hacked which will then link you to your BTC purchases and the addresses you sent the BTC to.
reply
Oh, Ok. Yes. I don't know if this is weird, bit I keep two piles. One kyc, one non kyc. I guess I'm still worried about the white list stuff, so I don't completely shun KYC. I figure I can have a boating accident and mix my coins down the road if that's the direction I decide to take.
reply