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0 sats \ 2 replies \ @fiatbad 19 Nov 2022 \ parent \ on: dont buy bitcoin bitcoin
What about Strike and Square, though? I want to support the Jacks because they are helping educate the public about why "Bitcoin not shitcoin". Their fees are low-ish, and they are Bitcoin-ONLY exchanges. The only issue I see with them is KYC.
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0 sats \ 0 replies \ @Hermit 19 Nov 2022
Do you guys ever go to a restaurant, to a store, or to do groceries?
This places offer you goods and services that you pay for and they get a cut for doing the work of prep everything for you.
You go to Chipotle, you buy a burrito and I don't think you care what they do with their profits while you get your burrito to eat.
Exchanges are the exact same, no difference. Another thing is if after that, you expect the exchange to give you a yield, a credit card or dance flamenco for you, they are not what they are here for.
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0 sats \ 0 replies \ @SatoshiNakanodo 19 Nov 2022
You answered your own question. KYC keeps you prisoner to the traditional system. if you can buy from a peer without giving up your personal information, why wouldn't you? Jack and Jack will be fine.
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