w_s_bitcoin on Nostr: Usually when we talk about no-kyc bitcoin, we mean that there is no corporate record ...
Usually when we talk about no-kyc bitcoin, we mean that there is no corporate record of YOU having purchased those sats. If someone else buys them for you and then transfers them to you, those would be no-kyc. If you work for bitcoin or sell something for bitcoin and receive it p2p, those would be no-kyc.
If you buy from an exchange and then mix it, although you’ve likely broken the on chain footprint to your new bitcoin, the exchange will still have a record of you having bought those bitcoin and so any rogue government that pressures exchanges for that info could use it to come after you and then the proof of ownership or not would be placed on you…and they’d probably assume you’re “guilty until proven innocent”. Things would have to get pretty bad for that type of scenario to play out.
Published at
2023-03-03 18:48:18Event JSON
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"content": "Usually when we talk about no-kyc bitcoin, we mean that there is no corporate record of YOU having purchased those sats. If someone else buys them for you and then transfers them to you, those would be no-kyc. If you work for bitcoin or sell something for bitcoin and receive it p2p, those would be no-kyc.\n\nIf you buy from an exchange and then mix it, although you’ve likely broken the on chain footprint to your new bitcoin, the exchange will still have a record of you having bought those bitcoin and so any rogue government that pressures exchanges for that info could use it to come after you and then the proof of ownership or not would be placed on you…and they’d probably assume you’re “guilty until proven innocent”. Things would have to get pretty bad for that type of scenario to play out.",
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