Hello, first post! Looking to discuss if I'm overthinking the privacy issues in purchasing non-kyc. In broad strokes there seems to be two routes to acquiring non-kyc:
1a) Processing CEX coin with coinjoin or sub swap it, usually with coin purchased before knowing about KYC. I know the boat accident is a common joke and they can't prove it, but for an audit can't they just make an extremely high tax consequence unless you prove your transaction? With increasing laws like Fincen and IRS scrutiny burden of proof of an audit is on the individual. You're already supposed to track all your transactions.
Ex) You move your purchase to another wallet to create plausible deniability. This is a taxable event. But if they ask for transaction history and you say you sold it, they'll need to see a change in balance on the sell. Lack of proof of purchase may result in that high tax consequence.
2) P2P with a DEX like Bisq, HODL, Robosats, etc and pay a premium for the privacy, ideally with a node. I've enjoyed doing this but I didn't realize how fickle bank and the payment methods like CashApp, Zelle, and Strike, etc could be. It's okay for the occasional payment but for anything more it's incredibly inconvenient. I recognize a lot of people got scammed so they're putting in protective services, but for everyone else we have to tip toe a bit to not accidentally have the hassle of getting an account frozen. This is elevated because the main people on each platform are staples indicating that their accounts get considerable repeat activity. It would be unsurprising for them to be flagged and monitored. A transaction with them also creates a high probability that you purchased Bitcoin from them. I know this because I did a transaction well within my limits and then got a call from my bank later that week. Does this mean you should be coinjoining this coin as well or am I overthinking this?
Basically for anyone that made the jump to DCA consistently into non-KYC long term, what is a workflow that works for you? The only thing I can see working is purchasing from a miner directly (if anyone has suggestions I'm all ears), Bull Bitcoin (Canada only), or living as a German citizen for a year lol.
If there are any meetups in your area that might be a good place to find someone willing to sell you BTC for cash.
In large orders its still going to be difficult. I don't know what $100k in cash would look like but I'd imagine it would be bulky & the seller should probably verify the notes too.
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I feel like meetups are brought up a lot as a solution which I'd love to do, but I've never had any success with finding anything. I feel like it used to be a thing before but now everyone is looking to buy (especially as we approach the halving). It may also just be my country is not great for meetups.
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In Australia most of the order books on hodlhodl, robosats are pretty thin. Looks like the USD & euro have the most.
Another way (which maxis might not agree with) is to do a few steps. If you can get into USDT first, then there are more options worldwide to buy BTC.
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I don't mind the extra steps and using that as a way to gain user diversity is actually quite nice thinking! But the main hurdle is the arbitrary limits placed by the payment methods on category type spending (crypto) so getting BTC or CBDC is still considered the same.
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Mining
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Read and think
If you never go to sell back for fiat, why do you care about any gov? Earn in BTC, spend in BTC, hold BTC. is so fucking simple.
If you are still scared shit about taxes, read more here https://www.losthorizons.com/BulletinBoard.htm
Remember:
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Damn straight. We all need to stop being slaves. There are evil people in this world that do evil things with your energy that you offer up to them. Please stop doing that.
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Thank you for the links Darth. I'll certainly be deep diving into your other guides later as well and following your CACHE protocol for existing KYC coin. I think that settles my concerns for method 1.
I don't plan on selling back to fiat, but regarding the post I am having difficulty dealing with the bank-imposed bottlenecks to convert to bitcoin for what you call my HODL stash regarding method 2. Do you have any suggestions on how to convert more quickly without having accounts frozen?
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and pay a premium for the privacy
Not always. If your time preference is lower and you act as a market maker, you can be the one who gets paid a premium.
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Having German residency comes with strings attached.
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