keel
Keel

If you become a US tax resident, then if you sell your KYC bitcoin and get capital gains, you need to show that gain in your tax form. Bitcoin is treated like stock in the US. You pay the capital gains tax.

2023-09-25 13:59:42

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I have been actively using Bisq for more than a year (selling btc) with no scams, but recently was hit by two SEPA chargebacks from two different people and Bisq onion addresses.
Still trying to understand what happened, my bank is slow to explain ...

2023-09-22 22:26:10

Goodbye, ZBD !
Will not touch.
#ZBD
#note1nw9…vlpj

2023-09-22 10:48:05

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Monero is about privacy , and, therefore, is being adopted for privacy oriented payments.
Bitcoin is for hodling , mostly KYC, and some payments when network fees are not prohibitive.
Bitcoin Lightning is for very quick small payments .

2023-09-22 00:35:09

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For KYC coins:
Either leave them as they are (zero cost option)
OR
sell them for fiat and buy again non KYC p2p (you may need to pay a capital gains tax after selling and p2p premium when buying)

2023-09-22 00:31:39

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My favorites are Bisq and Robosats

2023-09-21 11:46:28

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I would add - buy directly from the manufacturer to avoid hacked HWs

2023-09-21 11:42:15

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Try Bisq and/or look for local bitcoin meetups

2023-09-21 11:41:02

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The gov will not need to prove anything. YOU will need to prove that your bitcoin is now in other hands. And, believe me, many of your proofs and statements will be just disregarded and you will be taxed.

2023-09-21 11:38:15

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Bitcoin , at least in the US, is treated as an asset similar to a stock. When you sell it and get a capital gain, you must declare it and pay the tax.
As I am aware, there is no separate bitcoin ownership tax, excluding cases where you own a lot of stuff and are subject to the wealth tax.

2023-09-20 20:45:11

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There are basically two risks:
- the gov will tax you for selling / owning the coins at some point of time
- if your exchange gets hacked, bad actors will know you own the coins and may extort it from you
The only way I know to go non-KYC is to sell your KYC coins for fiat and then buy it again p2p.

2023-09-19 19:29:10

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Or actually a better explanation - vandals just need a valid reason to vandalize

2023-09-19 19:28:40

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Why do they think that vandalizing will promote their agenda ? Don’t get it all ...

2023-09-19 19:27:12

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The climate will change at the end of the day and the Tor will be vandalized too.
What’s the reason ?

2023-09-19 19:26:00

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WTF

2023-09-19 17:48:20

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Check out @Robosats

2023-09-18 00:13:11

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You also can try Standard Notes.

2023-09-18 00:10:16

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First, check how the taxman in your country interprets withdrawals of your KYC coins from the CEXs to other persons addresses.
It may become clear to you that KYC coins stay connected with your ID forever.

2023-09-17 23:59:49

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It seems to me that the idea is to create a relatively closed social network using the Nostr protocol and promising Zaps to the members as an incentive.
As soon as a sizable user base will be created, it can be monetized in one way or another.

2023-09-17 23:45:36

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It has an IOS version

2023-09-17 18:02:01

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Checkout Libgen or Z-lib

2023-09-17 10:35:34

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Looks like Spain or France or Italy 🤫

2023-09-17 00:10:35

www.awesome-privacy.io
Amazing resource for privacy oriented people.
#privacy

2023-09-17 00:05:42

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Try Bisq. The scam potential is very low. I have been trading via Bisq for more than year and no issues at all.
One of the drawbacks: you need to install and run a desktop app.

2023-09-13 09:33:30

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Actually, Why comes before How.
Why do you want non KYC sats?
Why do you want KYC sats?
There are many different scenarios depending on your location, tax conditions, bitcoin use cases, your mindset etc.
The answer for a Bitcoin maxi in the US will be totally different to a bitcoin normie in Nigeria or China or Germany.

2023-09-13 01:25:56

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#privacy

2023-09-12 23:37:28

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At the end of the day, the govs want taxes from the taxable events.
Consider that scenario:
You purchased your BTC for X and then withdrew it to your another address when the BTC price was Y.
If you withdraw to YOUR address, then this event is not taxable. But you will need to PROVE to the taxman that this is YOUR address you withdrew to. If you can’t prove it, then it will be viewed as a taxable event and you need to pay.
So, most probably the govs will just prohibit the withdrawals to the non KYC address and we will have two types of addresses - KYC and non KYC.

2023-09-12 23:26:51

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Your points are valid. I definitely agree that your purchase at a CEX with KYC links your ID with the certain TX forever.
It’s a little more complicated with TXs afterwards when you either (1) withdraw bitcoin to *your* another address, (2) coinjoin , (3) send bitcoin to * other* persons address.
The consequences of those actions depend on how the government or other entities interpret it.
Some govs will punish coinjoins, some govs will consider every withdrawal as if you send to your own address, some govs will not care at all (like in Portugal).
So, your location and your citizenship matters a lot.

2023-09-12 23:17:27

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Running your own node is painful and requires effort, it’s definitely not for a person willing to quickly send some sats to Bitrefill, The Bitcoin Company or similar providers.
For normies, custodial LN wallets work just fine for small/average amounts like <$100

2023-09-12 23:10:31

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Thanks for the hashtag, forgot it 🙃

2023-09-12 21:49:09

Many services want you to sign up (soft KYC), but you can use non-KYC front ends instead.
Here is a useful list of those FOSS front ends:
https://github.com/mendel5/alternative-front-ends

2023-09-11 10:12:33

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Strongly agree, Nostr is about freedom , doesn’t matter Bitcoin or Monero or whatever

2023-09-10 13:40:18

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That’s a very smart move - coinjoining after buying at a DEX.
Although I never discovered a bad source for BTC bought at Bisq , there is still a possibility.
You can track the history of your coins using kycp.org

2023-09-10 13:37:23

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Folks that don’t care about KYC and/or need some fiat.

2023-09-08 15:14:10

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Drink one in the morning tomorrow and you will be fine in a moment !

2023-09-06 17:14:10

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Robosats & Peach Bitcoin & HodlHodl

2023-09-05 12:17:45

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That’s a $1million question when they will transform that knowledge into problems for us, hodlers
That’s why I diversify and totally separate my BTC holdings - KYC (bought from exchanges or companies like Relai) and non-KYC (bisq, robosats)
For complete privacy, I also keep some Monero.

2023-09-05 12:09:25

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Just finished reading it. Absolutely 5++.
All my thumbs up 👍 @npub1a2c…w83a !!

2023-09-05 12:07:58

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Also, absolutely no tax on bitcoin transactions

2023-09-04 14:44:59

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Lost your keys ? The gov will laugh and charge you a capital gains tax.
The bitcoin purchased by you at a KYC exchange stay connected to your ID forever.

2023-09-04 10:29:48

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In any way, if you have that business with Relai for some time, the bank knows for sure about your bitcoin involvement.
The big issue is what they are going to do about it today or in the future

2023-09-04 10:00:14

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Most probably, you got flagged by the bank as Involved with crypto

2023-09-03 16:19:43

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What's the issue with the bank? Did they block the payment to Relai because it's connected to Bitcoin?

2023-09-02 20:27:45

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If you buy your btc at a source that has your ID (like Coinbase or other centralized exchage), then it's relatively easy to track using a chainanalysis software.

2023-09-02 20:18:19

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CashApp is easy, but KYC. So, it works for me for small amounts and quick payments only.
For larger sums and hodling, I go non-KYC p2p + cold storage.

2023-09-02 20:14:18

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Split it into 6 x $500 or 3 x $1000 and DCA every week.
If you want to have your BTC non-KYC (it means not connected to your ID), then use non-KYC p2p exchanges like Bisq, HodlHodl, Peach Bitcoin or Agoradesk.
You may also want to check out Azteco vouchers.
Good luck and feel free to ask.

2023-09-02 15:45:34

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Yes
“Starting 1 September 2023, regulations will require virtual asset service providers (like Revolut) to share information about the sender and the receiver on both ends of a crypto transaction.”

2023-09-01 13:22:04

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Sure, being decentralized and not willing to play Apple or Google game lowers adoption.
But, in any way, being a part of non-KYC world is the choice. Now, Vexl faces the same choice.

2023-09-01 09:31:33

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100% agree
Just take a look at Bisq, totally sovereign, don’t need any Apple shit and do its mission

2023-08-31 11:01:26

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When something big collapses, a period of chaos follows. So, before a new reserve currency settles, there will be a lot of currency trouble world wide where different countries like China, India etc will try to put their own currency as the new reserve currency. And that trouble will hit exactly the countries pushing de-dollarization.

2023-08-30 17:13:19

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That’s relatively easy:
(1) you get your connection to your home internet provider only after submitting your ID
(2) public wifi access require registering by using two independent types of ID
(3) access to Internet is provided only via a gov server
(4) etc etc etc

2023-08-30 16:45:22

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That’s not good news. Should I switch over to Android version of Vexl ?

2023-08-30 08:43:14

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Well said !

2023-08-30 08:42:11

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First two = DONE. Having issues with the 3rd .... still stuck in the human form

2023-08-29 22:15:38

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Nah, of course , it’s not . But I needed to look like a vodka expert to keep the high level of our discussion 😃

2023-08-29 22:13:25

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Well said, man, and well noted for the future

2023-08-29 22:04:33

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Your recipe looks amazing, btw, need to try it . Thanks for sharing !
And the last question - which vodka do you use ? Normally , I prefer Russian, and don’t like Polish or Finnish

2023-08-29 21:57:37

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That’s explains a lot and you are excused 😃Bon Appetit ! And I hope we’ll have some pasta with vodka (your style) or vodka with pasta (my style) some time ....

2023-08-29 21:26:24

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And you also need to give some btc to the Monero god. After that, he becomes well spirited and gives you some XMR 🙂

2023-08-29 21:23:16

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Ahaha, that’s why I got a little more fiat today selling some coins at Bisq to cover expenses ))

2023-08-29 21:20:20

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You are absolutely right. And more of it, it’s just dangerous

2023-08-29 21:19:34

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and sex

2023-08-29 21:18:42

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Why don’t you just drink vodka? I’m a vodka maxi, so I would never mix vodka into a sauce 😬

2023-08-29 21:16:37

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Could you please explain a little more how Wubba Lubba relates to Fathers & Sons by Turgenev ?
I’m really puzzled 🤔

2023-08-29 09:56:13

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@npub15kl…4m73 is great for getting your feet wet with your own (hosted) LN node.

2023-08-29 09:53:10

Just purchased and started reading the Kindle version of “Broken Money” by @npub1a2c…w83a .
Amazing book, very clearly written, definitely a great add to my library.

2023-08-29 09:43:54

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Wow, what an amazing list of resources you are running. Really cool 😎

2023-08-27 19:30:31

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Oh, those issues of consumerism. Just use soap, the problem’s solved.

2023-08-27 11:13:12

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Yes, thanks for the confirmation!
Actually, I use Zeus with my node and their recent initiatives puzzled me a little .

2023-08-27 09:08:15

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Your coins from Relai and similar orgs are absolutely KYC’d because they have your bank account and IP address.
99.99% probability is that Relai and similar orgs retain the trade data and, when needed, the gov will force Relai to submit that data.
There is no “light” KYC.

2023-08-27 08:56:56

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It’s hunting. Hunting for your coins 🙂

2023-08-26 11:35:52

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Many will unfollow , but many others will start following 😉

2023-08-26 11:05:48

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You can start that trend, man 😀

2023-08-23 01:10:42

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Onboarding via tips! That’s cool, never thought about that ....
Great idea!

2023-08-22 22:51:00

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When you onboard people, what are the use cases they are interested in?

2023-08-21 09:34:17

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And also not only from different people, but also from different countries.

2023-08-21 00:25:00

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When Revolut or other banks see outgoing transfers to Pocketbitcoin and then several incoming transfers from different people (SEPA or intra-system), it’s easy for them to assume that it’s the bitcoin trading going on.
Immediately , red lights start flashing in their heads.

2023-08-20 13:43:15

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IMHO, in Europe and US, it's almost a deadend now. There are simply almost no use cases for average people and businesses where bitcoin can serve as a better MoE (cheaper and/or faster) compared to cash and banks.
As a SoV, bitcoin is another (risky) investment that fluctuates wildly (ie, it can give you high gains and high losses).
In other countries, bitcoin may be actively used for inter-border transfers, as protection against very high inflation, darknet and for tax avoidance and corruption payouts.
That's my take today.

2023-08-19 01:02:32

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I would add an ease-of-use angle:
Robosats is easier, Bisq requires more effort

2023-08-19 00:57:44

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Cash in mail is also an alternative , at least with no traces of bank transfers

2023-08-19 00:54:15

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Excellent post ! Bravo !

2023-08-18 08:00:48

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From the experience, the sweet point at Bisq for the seller is between 2% (very quick sale) and 4% (a couple of days).
If you charge more, your selling time increases.

2023-08-15 20:13:45

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Buddy, please come to Russia and just say openly somewhere that you are against the war. Just stand with that slogan outside.
After that, just report honestly what is happening.
You talk a lot , but please do that simple act and you will see.

2023-08-15 17:17:04

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Great, put a link to one of those videos here and we will analyze why those people were arrested - because of their opinion or because they were causing public disorder.
And then we will compare to trials in Russia - trials because of voicing opinions with absolutely no public disorders.

2023-08-15 16:34:13

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Of course, you shouldn’t , but you would you would have a pretty good benchmark for comparing the bad sides of the western democracy to the real totalitarism.
Everything’s relative and you need to establish the base to compare different options with. 🙂

2023-08-15 16:28:31

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I’m simply suggesting a very easy and practical test - to come to Russia and proclaim openly the anti war opinion. After that, see what happens and compare to the “ liberal” West.
And you just push a lot of disorganized statements, some of them sounding very propagandistic.

2023-08-15 13:52:58

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In the “liberal” West you have an illusion of choice , in Russia and Chine you’ll just land into jail just trying to say (to say! Not to act) something against the government .
Try going to Russia and say openly you are against Putin or the war.

2023-08-15 13:50:33

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You should live a year in Russia and a year in China. You’ll love the “liberal” West after that, believe me.

2023-08-15 11:25:30

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Great article, btw.
A quick question - what if I join Vexl, but my contact list will not have any matches with ones of other Vexl users ?
Will I end up with zero offers ? Or it will be the similar story like at Bisq - my offer will be published to a group of strangers ?

2023-08-15 11:08:03

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Many people just don’t understand that you join NATO on your own wish if all other NATO countries agree to it.
They even fail to see the recent clear-cut cases of Sweden and Finland.
This is either prejudice or ignorance , I don’t know.

2023-08-14 22:37:05

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When? That what's the plebs are asking

2023-08-14 10:50:22

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The BEST is a properly diversified portfolio made up based on concrete person’s financial needs - short term and long term.

2023-08-14 10:48:07

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Bitcoin is NOT the best savings technologies.
It’s just one good investment option among many other traditional options.
Putting all the eggs into the bitcoin basket is not an ideal savings portfolio.