The question around ‘traceability’ is likely what is referred to as Forward Privacy. If you bought BTC on a KYC exchange acct, your purchase is known and recorded, as are all movements ‘going forward’. Therefore you should assume you will one day be called to account for that purchase. (i.e. possibly one day your gov’t will enact an Unrealized Gains Tax on ‘crypto’, and you will be taxed on your purchase(s), even if they don’t know what you did with them afterwords.) So if you bought thru a KYC acct, you may - MAY - be screwed already, regardless whether you observe utmost privacy going forward.
So back to the main question, ‘traceability’: if you simply want to spend your BTC w/o being personally connected to a particular spend…the easiest way (I’ve heard of and can’t vouch for) is to find an exchange that will allow acct opening w/ only an (unique, private) email. Send only enough to stay w/i their withdrawal requirements for KYC registration, exchange into XMR, send the XMR to an XMR-wallet (to break the traceable path)…then spend the XMR freely from there.
If you need to spend actual BTC or wish to break Forward Privacy for BTC (w/o paying huge coinjoin fees), do all the above, but then send the XMR to a NEW acct at the same or different exchange (under a new unique & private email), swap XMR for BTC, then send BTC to a wallet address you’ve never used before for KYC transfers.
You see…its a complicated mess. And the window is closing quickly on this complicated mess. Envy those who bought their BTC years ago before KYC…they were born on third-base, think they hit a triple.
My point being…I’ve never done any of this, only thought it thru for funsies…but your big question is WHAT DO YOU WANT with BTC? If you bought via KYC acct, you can assume you are tracked and every spend is monitored. So how much effort/how much incentive do you have to put into changing this situation?
Narwhal Tacos /
npub1yf…e794q
2022-12-28 07:23:18
in reply to nevent1q…yvcl
Author Public Key
npub1yfmcm63zgnzj9jnafvtnlrz0rjhv7me54suuj83p9rqg78jc687sle794qSeen on
wss://relay.noswhere.comPublished at
2022-12-28 07:23:18Event JSON
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"content": "The question around ‘traceability’ is likely what is referred to as Forward Privacy. If you bought BTC on a KYC exchange acct, your purchase is known and recorded, as are all movements ‘going forward’. Therefore you should assume you will one day be called to account for that purchase. (i.e. possibly one day your gov’t will enact an Unrealized Gains Tax on ‘crypto’, and you will be taxed on your purchase(s), even if they don’t know what you did with them afterwords.) So if you bought thru a KYC acct, you may - MAY - be screwed already, regardless whether you observe utmost privacy going forward.\n\nSo back to the main question, ‘traceability’: if you simply want to spend your BTC w/o being personally connected to a particular spend…the easiest way (I’ve heard of and can’t vouch for) is to find an exchange that will allow acct opening w/ only an (unique, private) email. Send only enough to stay w/i their withdrawal requirements for KYC registration, exchange into XMR, send the XMR to an XMR-wallet (to break the traceable path)…then spend the XMR freely from there.\n\nIf you need to spend actual BTC or wish to break Forward Privacy for BTC (w/o paying huge coinjoin fees), do all the above, but then send the XMR to a NEW acct at the same or different exchange (under a new unique \u0026 private email), swap XMR for BTC, then send BTC to a wallet address you’ve never used before for KYC transfers.\n\nYou see…its a complicated mess. And the window is closing quickly on this complicated mess. Envy those who bought their BTC years ago before KYC…they were born on third-base, think they hit a triple.\n\nMy point being…I’ve never done any of this, only thought it thru for funsies…but your big question is WHAT DO YOU WANT with BTC? If you bought via KYC acct, you can assume you are tracked and every spend is monitored. So how much effort/how much incentive do you have to put into changing this situation?",
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