KYC is a massive risk with a self-custody, permissionless asset.
Since it's so easy to steal extraordinarily large amounts and not-yet-easy to trace, thieves are incentivised to go after big holders and do whatever brutal means necessary to get their coins.
The risk-reward for criminals is very good.
In other words - one leak of your address puts you at massive risk.
This is one reason why it's so important to run a LN node behind a VPN/Tor/etc. - it's not hard to find your location via your IP address.
We should all be paranoid what linkage exists online between our bitcoin_address<->ip_address<->name<->net worth<->physical_address.
The spectrum of paranoia can vary (e.g allow IP address leaking but hide physical address by all means) and I'm in no means perfect either.
it was the first thing i did when i got into bitcoin. just holding it makes no sense. you want to make it work and make more bitcoin. this desire is what scammers exploit
Many noobs want to "catch up" with the people who came into Bitcoin earlier and start looking for yield and trading shitcoins just to get burned. When we tell them "Not your keys, Not your Bitcoin" and that trading shitcoins doesn't work (because of the majority of us have already tried), they laugh at us or tell us that we don't want them to success.
The truth is, we want them to success (success gets shared) and that's why we're trying to steer them away from the scams. Some listen, some don't.
The link for the direct download (without going through the Twitter t.co url shortener) is:
https://ia601401.us.archive.org/28/items/celsius/celsius.pdf
This got removed.
See https://twitter.com/crypto_notte/status/1578471067667963904 / https://drive.google.com/file/d/10NoRnuwLUs1snG0aXGnfLJWfegCsfP_w/view
Also in a nice
.csvfile so you cangrepyour name (all caps) nicely.Awesome, thank you for sharing that!
KYC is a massive risk with a self-custody, permissionless asset.
Since it's so easy to steal extraordinarily large amounts and not-yet-easy to trace, thieves are incentivised to go after big holders and do whatever brutal means necessary to get their coins.
The risk-reward for criminals is very good.
In other words - one leak of your address puts you at massive risk.
This is one reason why it's so important to run a LN node behind a VPN/Tor/etc. - it's not hard to find your location via your IP address.
We should all be paranoid what linkage exists online between our
bitcoin_address<->ip_address<->name<->net worth<->physical_address.The spectrum of paranoia can vary (e.g allow IP address leaking but hide physical address by all means) and I'm in no means perfect either.
Looking at the quantities people lost - if this document doesn't get you to move your coins to cold storage, nothing will.
These people were looking for yield.
it was the first thing i did when i got into bitcoin. just holding it makes no sense. you want to make it work and make more bitcoin. this desire is what scammers exploit
holding it makes all the sense :)
Society today for some reason is obsessed with "productivity". Can't hold something that's not doing anything!!1!
When you are holding money that doesn't dilute, you are gaining value as the world is increasing in productivity (or diluting their version of money).
And to be frank - Bitcoin is doing something. Its network effect is growing, so that is another price appreciator.
Many noobs want to "catch up" with the people who came into Bitcoin earlier and start looking for yield and trading shitcoins just to get burned. When we tell them "Not your keys, Not your Bitcoin" and that trading shitcoins doesn't work (because of the majority of us have already tried), they laugh at us or tell us that we don't want them to success.
The truth is, we want them to success (success gets shared) and that's why we're trying to steer them away from the scams. Some listen, some don't.
FFS
YES - this is EXACTLY why KYC must be avoided
The address appear to be redacted in this document?
That's correct. At least something.
Does anyone have a searchable version of this?
@ln_cortado shared this one above:
https://drive.google.com/file/d/10NoRnuwLUs1snG0aXGnfLJWfegCsfP_w/view
Now they are trying to do this with FTX:
New York Times blasted for Attempting to Get FTX Creditors' Names Unsealed
#105459
https://news.bitcoin.com/new-york-times-ft-bloomberg-blasted-for-attempting-to-get-ftx-creditors-names-unsealed/
What a disaster. How this gets leaked. A gross invasion of privacy.
Dear god in heaven. This is why you avoid KYC under all circumstances.