I am no expert!
My take:
This is understandable from regulation side, because the current debt base monetary system only works if they can dispatch the cost of the newly borrowed debt onto someone(s). And if there is a loophole where money can disappear from their system, money will go that way. Also bitcoin self-custody can't be controlled by them, therefore they have to track your stack to give you the check for the tax, or they have to trust you to pay it voluntarily. Of course you have to trust them, but vica-versa it does not work. Or they need to know your address to know from whom they have to request money when they say "you have to give your btc to the gov" like what happened with gold.
In my opinion what you can do, is
1.) use peer-to-peer or nokyc exchanges, and never share your information.
2.) Use cash or gift cards not attached to your real identity to buy btc.
3.) Use lightning to receive bought btc. (Not fully private either compared to onchain when you receive, but still more private)
4.) Use coinjoin to your cold storage.
Joey
npub1hm7…4mzq
2024-02-08 09:46:10
in reply to nevent1q…yu0z
Author Public Key
npub1hm7vs5sqm2cypkkepgtjmp878d43wtnfzmu0tu0j794zflyn4wyqlc4mzqPublished at
2024-02-08 09:46:10Event JSON
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"created_at": 1707381970,
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"tags": [
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"content": "I am no expert!\n\nMy take:\nThis is understandable from regulation side, because the current debt base monetary system only works if they can dispatch the cost of the newly borrowed debt onto someone(s). And if there is a loophole where money can disappear from their system, money will go that way. Also bitcoin self-custody can't be controlled by them, therefore they have to track your stack to give you the check for the tax, or they have to trust you to pay it voluntarily. Of course you have to trust them, but vica-versa it does not work. Or they need to know your address to know from whom they have to request money when they say \"you have to give your btc to the gov\" like what happened with gold.\n\nIn my opinion what you can do, is \n1.) use peer-to-peer or nokyc exchanges, and never share your information.\n2.) Use cash or gift cards not attached to your real identity to buy btc.\n3.) Use lightning to receive bought btc. (Not fully private either compared to onchain when you receive, but still more private)\n4.) Use coinjoin to your cold storage.",
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}