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10 sats \ 3 replies \ @DarthCoin 28 Jan \ on: Critiques of "Non-Kyc" Bitcoin bitcoin
I think I already explained in simple terms here #867959 my position about KYC.
The thing is that the "privacy advocates" are trying to sell your the non-KYC places as the ultimate thing against a government agency that is watching all your moves. That's not totally true. The gov is not interested into how many beers you bought with sats, but from where they can squeeze you to pay more taxes.
The REAL threat is not coming from the gov, when is about your BTC... but from real bad actors, that are not part of the gov... and can be right next to you, the guy that sells you pot and next day can kidnap you because they know your BTC stash.
And please, don't say anymore "KYC or non-KYC bitcoin". There's no such thing. It's only Bitcoin.
Thanks. My position on this... is that a long-term holder needs a blended 'defense in depth' against scams, fraud, or even violent crime against them.
Not talking about Bitcoin... or at least not 'their' Bitcoin. Not to mention, not having substantial amounts of Bitcoin at easy access or in a place where they could be "compelled" to access it.
Some people advocate for multisig for just this reason (I know you don't?) because that way it's not "all at one place" and keys have to accessed in multiple secure locations to spend funds.
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blended 'defense in depth'
You will not achieve that with more complexity but with simplicity.
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Interesting
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