How I Buy Non-KYC Bitcoin \ stacker news ~bitcoin

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608 sats \ 27 comments \ @PictureRoom 3 Feb bitcoin_beginners

In order for me to understand something well, it needs to be explained in a simple way.

This is what I have found that works for me, so I hope it may be of use for someone:

First, I run a Start9, full BTC node
Download Tor browser
Purchase BTC with RoboSats (using my Strike cash balance)
Send the purchased Non-KYC sats via lightning to my Alby wallet
Use Boltz to swap out the newly aquired Non-KYC BTC from lighting to BTC On-Chain
Send to cold storage device (Jade) which I use with Sparrow Wallet

Very easy. If I can do it, you can too.

Links:

Start9 Server One - https://store.start9.com/collections/servers/products/server-one Tor Browser - https://www.torproject.org/download/ Strike - https://strike.me/ RoboSats - https://learn.robosats.com/ GetAlby - https://getalby.com/ Boltz - https://boltz.exchange/ Cold Storage (Blockstream Jade) - https://store.blockstream.com/products/blockstream-jade-hardware-wallet Sparrow Wallet - https://sparrowwallet.com/

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560 sats \ 3 replies \ @stack_harder 3 Feb

how is it non kyc is the funds are coming from Strike, a fully kyc bitcoin company?

30 sats \ 1 reply \ @fiatbad 3 Feb

how is it non kyc is the funds are coming from Strike, a fully kyc bitcoin company?

Because you pay the person fiat. There is no record of the person sending you Sats in exchange for your fiat.

RoboSats is similar to meeting someone at a coffee shop, handing them cash, and having them pay your LN invoice. It's outside the system.

You don't pay capital gains tax when you "gift" your "friend" $100.

34 sats \ 0 replies \ @Jon_Hodl 4 Feb

This assumes that the entity that you are buying from is an honest actor and not a chain analysis company or “fed”.

If the counterparty is a bad actor, then they follow the money both ways.

9 sats \ 0 replies \ @PictureRoom OP 3 Feb

I asked a friend about it, and this is what he told me, but there are only a few options to pay with. There used to be amazon gift cards, but its not there anymore:

"If by safe you mean private, then yes, relatively so. There's no public correlation of your fiat spend to your Bitcoin stack. Of course Strike knows you sent money to someone, and that person knows of the trade, but its far safer than a centralized exchange which can be leaked/hacked and tell the whole world of criminals that you have a fat stack of sats and make a good target for home invasion and robbery".

9 sats \ 0 replies \ @Butterfinger 4 Feb

Raspibolt, minibolt are better than start9 because you get more control and easy to solve problems when they occur. In regards to swaps from LN to onchain and vice-versa I prefer robosats as a maker so you make fees instead of paying them, but if you need speed you can set to pay lower fees than boltz.

9 sats \ 4 replies \ @TheBTCManual 3 Feb

These days my main non-kyc stack is coming from buying azteco vouchers for cash and redeeming to my Alby or greenlight wallet and then if it gets biggly I consolidate on-chain

9 sats \ 3 replies \ @PictureRoom OP 3 Feb

azteco Woah, I've never heard of this

0 sats \ 2 replies \ @Bell_curve 3 Feb

they have a reseller's program

I looked into it myself a few years ago

9 sats \ 1 reply \ @PictureRoom OP 3 Feb

Is this something that you would recommend?

21 sats \ 0 replies \ @Bell_curve 3 Feb

I'm not sure

It's definitely worth exploring again.

10 sats \ 9 replies \ @DarthCoin 3 Feb

Non-KYC sats

THERE'S NO SUCH THING! If that will ever exist, it will be TWO separate networks. Please stop saying this bullshit, especially to beginners!

Purchase BTC with RoboSats (using my Strike cash balance)

The most dumbest thing ever. Why don't you just buy the sats from Strike ? Is absolutely the same, you are already KYCed, and even worse, Strike via your bank is already disclosing all your info to the tax guys (if you really fear them).

Guys, KYC is bad, really bad, but not to hide from a fucking taxman! The taxman doesn't give a fuck how much sats you bought, but how much dollars you bought...

When the fuck people will understand this ?

51 sats \ 8 replies \ @fiatbad 3 Feb

Can you explain this a bit more?

With RoboSats, there's no paper trail linking dollars (or SSN's) to Bitcoin purchases. All Strike knows is that you sent a "friend" some fiat, which the IRS don't care about because that's not taxable. So how is RoboSats not non-KYC?

Sure, you had to KYC to use Strike.... which requires being part of their system. But at least they will never know you bought Bitcoin. And if we ever need to buy dollars, all the taxman knows is that a "friend" lent me some dollars. Not taxable.

Not trying to argue, because I know you're very knowledgeable. Just trying to clear up my own understanding if I have something wrong.

Edit: actually, I think I'm starting to get what you mean before you even respond. It's the buying of the dollars that they care about. I get that.

But if you buy/sell Bitcoin in a non-KYC manner, it's really hard for them to do anything about it. They allow friends to send each other fiat on these apps without it being taxable. The caveat probably has to do with the amount. Friends aren't usually sending thousands of dollars to each other regularly. But if you buy/sell small amounts of Bitcoin, you can go unnoticed.

21 sats \ 4 replies \ @DarthCoin 3 Feb

The whole point is to NEVER ever go back to fiat. Once you buy BTC, stay in BTC, spend with BTC.

Any fucking fiat rail is KYC, no matter what. So even buying on Robosats with a bank transfer or revolut or visa or strike, is already KYC.

But the point is that the taxman will not tax you on how much BTC you buy... they can't do that. But they tax you (if you care about that crap lie) on what BTC you sell back for fiat. YOU DO NOT HAVE ESCAPE WITH FIAT RAILS. That's the whole point.

KYC is bad when you buy BTC because you link your real identity with multiple UTXOs and bad guys can get their hands on leaked KYC data like this: https://paste.fo/raw/ad9159623b1c

Then you will see some bad guys like these at your door...

Gov doesn't give a shit about how much BTC you have as long you are not going back to their fucking fiat.

30 sats \ 1 reply \ @Jon_Hodl 4 Feb

The whole point is to NEVER ever go back to fiat. Once you buy BTC, stay in BTC, spend with BTC.

This.

9 sats \ 0 replies \ @PictureRoom OP 23h

For sure, I understand and agree with it

0 sats \ 1 reply \ @j7hB75 3 Feb

That link is not working.

0 sats \ 0 replies \ @DarthCoin 3 Feb

no wonder they shut it down... it was full of thousands of KYC data leaked

0 sats \ 1 reply \ @PictureRoom OP 3 Feb

it may be a good time to share this as well. I've never heard of this guy, or any of this information that he talks about, but I'd like to discuss the points

0 sats \ 0 replies \ @Bell_curve 3 Feb

does this guy look trustworthy? a reliable source?

If the video was how to traffic narcotics then...

0 sats \ 0 replies \ @PictureRoom OP 3 Feb

My understading as well, thank you

9 sats \ 0 replies \ @itsMoro 3 Feb

nice!

9 sats \ 1 reply \ @sime 3 Feb

I seriously suggest you look into hodlhodl and vexl.it

9 sats \ 0 replies \ @PictureRoom OP 3 Feb

Hmm, idk based from what this says: #157938

21 sats \ 2 replies \ @fiatbad 3 Feb

This is great, but I'm wondering.... why the Alby and Boltz stuff? You have your own Start9 node, so why not just create a LN invoice directly on Thunderhub or RideTheLightning?

Are you not managing your own Lightning channels on your node?

Edit: I realize that what I said above would require you to close a LN channel in order to go to cold storage, and maybe that's why you don't want to do it? Personally, I spend a lot of Lightning at stores and merchants (using my own channels on my node). As I spend, the channel liquidity moves to the other side of the channel. Buying Bitcoin on RoboSats is a great way to get some of that liquidity back on my side, allowing me to spend-and-replace perpetually on a single channel for many years. Free transactions... no KYC. That's the life my man.

5 sats \ 0 replies \ @PictureRoom OP 3 Feb

Yep, that's why I believe I've come to this method. I don't want to close the channels!

5 sats \ 0 replies \ @PictureRoom OP 3 Feb

I'm running Alby / lightning channels on my own node

0 sats \ 0 replies \ @ama 5h

Depending on the amount you buy, and with the current on chain fees, you could buy on Robosats directly to cold storage, and save two steps.

If you buy small amounts you could save one step sending from LN (Alby) directly to cold storage.

In any case, there's no need to go to a hot wallet first, is it?