156 sats \ 5 replies \ @BlokchainB 28 Feb \ on: Stacker Saloon
@siggy47 you in here cowboy? After taking your advice I got a new dilemma now. Do I KYC again to withdraw the BTC I bought instead of paying my debt? Or should I sell withdrawal do an ETF to another exchange and rebuy?!?
I was listening to a podcast yesterday that discussed just what we were talking about. Of course I can't remember which one now. Basically the gist of it was that Saylor borrowed fiat to buy bitcoin. It's a double benefit. You buy an appreciating asset with a depreciating asset, and you get the benefit of knowing that your act of borrowing "prints" more fiat, causing it to depreciate even faster. As to your situation, I don't know. I'm confused myself. Confession- 2 years ago I used one of those credit card 0% offers to buy bitcoin. I knew I could swing paying it off through the term. That felt good, but I'm not recommending it!
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Yeah I did that too that worked out great. But I guess from your perspective KYC’ing to withdrawal isn’t a big deal?
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Well the privacy maxis say don’t KYC with an exchange to withdrawal your bitcoin because it destroys your privacy. Buy it peer to peer to protect your identity and privacy . Because these platforms scan your ID or passport and they keep it sitting on a database that could be hacked which will then link you to your BTC purchases and the addresses you sent the BTC to.
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Oh, Ok. Yes. I don't know if this is weird, bit I keep two piles. One kyc, one non kyc. I guess I'm still worried about the white list stuff, so I don't completely shun KYC. I figure I can have a boating accident and mix my coins down the road if that's the direction I decide to take.
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