1 sat \ 12 replies \ @RedRadish688 31 May \ parent \ on: The benefits of no-KYC Bitcoin | Freedom.Tech bitcoin
What about the related topic of tainted coins? I have seen different people asking in forum posts for chainanalysis services they can subscribe to, to filter out risky addresses, because they don't want to be associated with them.
Are you ever worried about a scenario, where everyone only accepts bitcoin from non tainted addresses? Would you consider bitcoin failed in this case?
tainted coins?
There's no such thing. That is another bullshit narrative pushed into newbies minds.
If such thing will exist, Bitcoin will cease to exist.
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I don't think we disagree here.
The question about whether this narrative exists or not depends on whether people believe in it or not. If enough people accept bitcoin from all sources without filtering it, its a bullshit narrative. If everyone starts subscribing to services, that classify risky addresses it will become real. And in this case in my opinion bitcoin has failed.
I don't have an overview over how many people currently subscribe to this narrative, but its certainly greater than zero.
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It doesn't matter from where you get your bitcoin. It doesn't really matter if you got some sats from a KYC exchange.
It matter if you NEVER go back to fiat.
It matter how you are doing a good coin control.
I wrote several guides about these aspects:
- ₿itcoin - Be your own bank, think like a bank
- Getting Started Stacking Sats Noob Journey
- From where can I get some ₿itcoin?
- ⚡ Lightning ⚡ Cleaning Machine
- ₿itcoin and privacy
- Operating with ⚡ Lightning Network ⚡ as a merchant
and many more on: https://darth-coin.github.io
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These are all great guides. I have read many of them and practice a lot of the stuff already.
Still, doesn't the act of coin control imply that I have to treat the coins different depending on where they come from? And that with some coins I am more limited in what I can pay than with others?
Let's assume I have received some coins from an address that my government has banned. I would not be comfortable in paying my rent with these coins, as it would connect them to my real identity. I can buy something completely anonymously or I can try solutions, like coinjoin, submarine swaps, opening a lightning channel. But all the solutions still require that the counterparty accepts these coins.
As government pressure mounts, it is not unrealistic to assume that fewer and fewer counterparties will accept them.
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If a merchant will (be able) reject a tx from your BTC wallet because you obtain those sats from a KYC source or will require you to provide the source of those coins, in that moment BTC will cease to exist.
As government pressure mounts
FUCK THE GOV! Why do you need gov approval to use your own money?
Rebut ANY gov, they do not have any authority or jurisdiction over your own money.
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If a merchant will (be able) reject a tx from your BTC wallet because you obtain those sats from a KYC source or will require you to provide the source of those coins, in that moment BTC will cease to exist.
Yes, it is also but I believe. My point is, you seem to consider this scenario as very unrealistic? While in my view the trend seems to be more and more in this direction and that it something we need to actively discourage / fight against.
FUCK THE GOV! Why do you need gov approval to use your own money? Rebut ANY gov, they do not have any authority or jurisdiction over your own money.
I see your point. Again it boils down to the previous question of whether enough people are willing to accept my money. If this remains true, then indeed no government has any authority over my money.
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Why do you need a gov to rule over your money?
Build your local communities that will accept your sats.
Done. Fuck the gov.
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I don't need the government for anything. The question is if my community can remain invisible to the government / can avoid getting captured by it.
This has been happening for years...
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I will take all your "KYC-coins" happily.
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