You wake up one day and realize you have a hardware device that has a fortune in BTCs, but the only way to cashout out is to verify your identity.
You'll give up your privacy for those BTCs?
21 sats \ 1 reply \ @random_bitcoiner 18 May 2023
I wouldn't "cash out", bitcoin is the exit strategy. If it's a fortune it's best placed in BTC than at my bank.
Selling small chunks is relatively easy and I'd only do that if I need to anyways.
reply
10 sats \ 0 replies \ @sudonaka 18 May 2023
!!! Yes. Bitcoin IS the cash.
reply
0 sats \ 2 replies \ @DarthCoin 18 May 2023
That means you didn't do a proper due diligence before using that device.
I have 10+ years in bitcoin, yes I used 2 types of HW but I give them away to a noob in the end. Are useless for me.
Read more here
#179846
reply
0 sats \ 1 reply \ @mo OP 18 May 2023
Luckily, is just a hypothesis for me. However, it is good to know about your thoughts. Do you ever got burn somehow?
reply
10 sats \ 0 replies \ @DarthCoin 18 May 2023
I never lost any single sat or get a wallet compromised.
I always use the 3 levels stash method and never fail.
Be your own bank = think like a bank
reply
0 sats \ 4 replies \ @k00b 18 May 2023
If you bought non-kyc, why wouldn't you be able to sell non-kyc?
reply
0 sats \ 1 reply \ @mo OP 18 May 2023
Let's place the hypothesis that the company that build the device and the assets' management software is suddenly under regulations obligated to KYC all his customers by the government.
reply
0 sats \ 0 replies \ @sudonaka 18 May 2023
use your words to restore to a different software and change governments by moving to a different country
reply
0 sats \ 1 reply \ @At 18 May 2023
Possibly because of dystopian regulations?
CBDC only society would necessate kyc to sell. As long as one is sellling for fiat, of course.
reply
0 sats \ 0 replies \ @k00b 18 May 2023
I see. I imagine you could still trade your desirable asset (given its price) at a slight loss for whatever you want to buy. Then price would only be that high if lots of people wanted bitcoin.
reply