161 sats \ 2 replies \ @BlokchainB 8 Oct 2022 \ on: Daily discussion thread
This Celsius disclosure is crazy. Makes me think what if all Bitcoiners went no kyc today what would happen to the KYC businesses? Would they go bust? (strike, river, swan) I am certain it would drastically raise the bar for entry. Thus slower adoption but way better privacy for all who use BTC.
I have heard about the dual approach a KYC stack and a no kyc stack but I’m just torn on how I should go forward with my accumulation strategy because now I do every I can to not only accumulate sats but also use them and donate them. Thinking should I go full no KYC in 2023 just use bisq and ATMs or just keep status quo and take my chances with being dox (which already happened because of ledger and casa leaks)
The dual-stack model is probably the best approach to hedge.
The inconvenience (and potential premium) in the short-term will far outweigh the inconvenience in the long-term. Also adds an additional incentive to mine.
When the time comes, anyone looking to take advantage of fiat gains should probably prioritise spending KYC stack. Banks (for now) want to see evidence that those have been in your possession, especially for big purchases like houses etc. Eventually that won't be the case, but compliance officers are checking boxes no matter how ineffective the paper trail is. The more barriers they introduce the bigger advertisement for non-KYC HODLing.
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I have a feeling the people doxxed in the Celcius disclosure don't know enough to care that they've been doxxed.
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