25 sats \ 9 replies \ @SwapMarket 5h \ on: First bitcoin non-kyc achieved, was almost painless bitcoin_beginners
You used Aqua? So what you really bought was Liquid BTC. Buying non-KYC is nonsense. You can buy on Kraken and withdraw via Lightning to your real lightning wallet very cheaply. No one cares to track when you buy.
Selling is another story. You don't want IRS to see when you sell. But if you use Robosats and money get credited to your account the bank may get suspicious. Better deal face-to-face and sell your sats for cash.
Buying non-KYC is nonsense. You can buy on Kraken and withdraw via Lightning to your real lightning wallet very cheaply.
Buying KYC is nonsense. You can buy on Robosats and withdraw via Lightning to your real lightning wallet very cheaply. Why give your personal data to Kraken when it's none of their business? Why give them the opportunity to track you whenever they might want to do so now or in the future? To me, that's nonsense.
Also, saying "No one cares to track when you buy" is obviously false with respect to Kraken, whose privacy policy explicitly says they track when you buy:
The information that we collect from you is as follows...Trading account balances, trading activity...your inquiries and our responses (“Trading information”) source
They also say why they track when you buy:
For the purposes of identity verification, compliance with court orders, tax laws or other reporting obligations and anti-money laundering controls...[And] To comply with applicable laws, subpoenas, court orders, other judicial process, or the requirements of any applicable regulatory authorities source
So please, none of this "no one cares" nonsense. They care deeply about when you buy, how much you buy, where you send it, and what you do with it; they log all of that info to the best of their ability, and they report it to governments who ask for it and partners who purchase it:
As part of processing your personal data for the purposes set out above, Kraken may disclose your personal data to any members of the Kraken company group, and to third parties. source
I recommend fighting back with Robosats -- which is easier and cheaper than Kraken anyway.
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Mostly agree, but...
Buying non-KYC is nonsense.
Buying non-KYC Bitcoin can make sense when you don't want your government to know that you own Bitcoin.
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i used aqua for this one yeah, i will probably just use WOS next.
as for no one caring , you're probably right, but one day in the future when btc is worth a lot more, i can see all the exchanges just giving up every last piece of info to the UK tax authorities and i don't want to make it any easier for the bastards!
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I'll say good luck to them. I run bitcoin, lightning and liquid node, swapping my sats all the time with other people via confidential transactions. Obviously I do.
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Fair point. They have my name, but the address is not in the country where I live.
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They sure can find in a database that once upon a time I bought some Bitcoin. But as long as I don't sell KYC there won't be a reason to go looking for me.
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