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.

2023-09-22 22:26:10

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

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

2023-09-20 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 19:26:00

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WTF

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 00:05:42

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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 01:25:56

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#privacy

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

2023-09-10 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 !

2023-09-04 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.

2023-09-02 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.

2023-09-01 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

2023-08-30 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 08:43:14

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Well said !

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 22:04:33

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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 21:23:16

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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 21:18:42

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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 09:56:13

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

2023-08-27 19:30:31

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

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.

2023-08-19 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 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.

2023-08-14 10:38:09

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But why don’t you have this statement in your T&C?
Just fix it in stone there :
4.5a. We will never outsource support
Talking privacy and committing to privacy legally are different things 😀

2023-08-14 04:02:13

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Any service selling onchain bitcoin would be fine to purchase the initial $20 onchain bitcoin.
After that, install Wallet of Satoshi and send those $20 onchain bitcoin to Wallet of Satoshi to have Lightning.
This way your bitcoin student will know that bitcoin is initially onchain and Lightning is Level 2.
After that, start talking about privacy, custodial vs non-custodial etc
I hope this helps.

2023-08-10 20:45:27

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Take a look at Peach Bitcoin and Relai

2023-08-10 20:41:06

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Peach Bitcoin would be the easiest from the list for a newbie.

2023-08-10 01:35:14

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For an average LN node, those routing fees are very small and don’t compensate all the effort and time required to run the LN node.

2023-08-09 15:08:15

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The easiest way for the first coins are SEPA transfer with Relai, Pocket, Bity or Bittr.
I wuensche Ihnen viel Spass mit Bitcoin!

2023-08-07 23:43:26

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Robosats is your way to go.
Selling LN sats for SEPA, Wise or Revolut transfer is very easy and keeps the trade private.
Also, check out companies like Peach Bitcoin, Relai, Bity and Bittr.
For gift cards, I would add thebitcoincompany.com. They have German gift cards too.

2023-08-06 09:10:27

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My take :
Bitcoin Onchain for hodling
LN for quick / easy payment (eg, buying a gift card)
Monero for private transactions when needed
I run a LN node and agree that it’s not for noobs. In the current situation, most people will use custodial solutions like WoS.

2023-08-05 20:14:12

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Bisq or Robosats or HodlHodl or Agora Desk
Azteco vouchers
Search for a local Bitcoin meetup
Maybe a Bitcoin ATM

2023-08-04 18:49:37

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You remember how modems were hissing going online ? Text based Amazon ? IRC first time with a person thousands miles away ? 😀

2023-08-01 23:33:26

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Straight to the point !

2023-08-01 17:42:23

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Well said, much food for thought.
I would add privacy is a part of human freedom. And therefore it’s very important.

2023-08-01 17:22:08

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Guys, you want to get into my social network pretending you want to give me a bitcoin p2p purchase option.
Why is your software not FOSS ?
That raises more suspicion.

2023-07-31 23:20:38

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Don’t forget those companies will disclose all the trade data if forced by the government .
It’s much more difficult with the private trades via Bisq, Robosats.

2023-07-31 23:17:03

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I tried it and stopped when it asked me for my phone number and my contacts. Don’t feel safe even if Vexl claims everything’s encrypted, hashed etc

2023-07-31 23:15:23

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If a Zelle trade in Bisq requires your real phone number to be successful, then you need to give it. If the trade can be fulfilled with a burner number, then use a burner number.

2023-07-31 23:10:13

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Duckduckgo

2023-07-31 17:45:09

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Also, the receiving person also needs to reflect the received amount in the tax statement and also may need to pay an income tax.

2023-07-31 17:40:36

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No, not only returning to fiat.
If you send peer to peer to another person, you need to reflect it in your tax statement. And for me it’s still unclear if you need to pay a capital gain tax or not in this case.
It depends how the taxman treats sending btc from one person to another.
Just imagine that you have 1 bitcoin and send 0.5 to me. If the taxman considers that you “sold” those 0.5 to me , then the capital gains tax can be a considerable amount and you will think twice if it’s reasonable.

2023-07-31 17:27:30

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As I understand, today the taxman treats bitcoin as another asset like a stock. You bought some, you sold some and you pay a capital gains tax.
It’s not fully clear for me how the taxman treats when you sent your bitcoin to another person. I think they may (or already) treat it as a sale, then you are liable to pay the capital gain tax.
To summarize, the less the gov knows about you bitcoin , the better.

2023-07-30 17:54:27

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Check out also those non KYC options :
Hodlhodl
Agora Desk
LocalCoinSwap
Azteco vouchers

2023-07-30 17:28:27

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Have you tried Hodlhodl or Agora Desk?

2023-07-30 17:27:23

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Yes, they have been planning Lightning for some time, but still nothing.

2023-07-29 17:26:23

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Bisq requires more time to understand and use, has more liquidity, but doesn't support Lightning

2023-07-29 17:24:37

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SEPA ?

2023-07-28 23:12:45

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PayPal is a well known shithole

2023-07-25 23:32:56

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That's cool! Will it work if you go to different post offices and use different names ?

2023-07-25 01:22:45

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Don't be manic about it, just start another KYC-free stack.
Don't mix them and you'll be fine.

2023-07-24 15:28:32

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And with some good beer 🍺

2023-07-24 13:00:04

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Sorry, FOSS 😀

2023-07-23 16:48:52

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Peach is not KYC free, it’s a soft KYC because they have your IBAN, even if they claim they can’t see it they may change their conditions at any time.
Bisq or Robosats is superior to Peach in regard to privacy.

2023-07-23 12:32:36

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If you are ok to run a desktop app and ready to learn a little, I would add Bisq to your DCA options.
From my experience, Bisq has slightly larger liquidity for Strike and Zelle compared to Robosats, but you need to spend some time learning how to use it.

2023-07-22 16:27:25

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Thanks, very interesting!

2023-07-22 00:34:39

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LNBits rules !

2023-07-22 00:18:42

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That procedure is essential for good privacy, but bitcoins going into Monero must be from a non-KYC source. If they are from a KYC source like Coinbase or Binance, the government will still consider them as yours.

2023-07-21 18:41:37

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Of course, we agree 💯
I'm and have been a Bitcoin Maxi myself, I thought Lightning will provide ultimate privacy , but still there are some drawbacks and complexity of the 2nd level.
So I started investigating Monero and CURRENTLY it looks better protected for spending only.

2023-07-21 17:05:06

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For stacking - definitely Bitcoin. For private payments Monero is currently better, you don't need to worry about if your btc are not linked to your identity and no need to coinjoin to hide the payment history.
In any way, everybody has his own use case and risk profile.

2023-07-21 14:41:03

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Your brother wants them KYC or KYC-free?
If KYC is ok for him, then he can use any centralized exchange.
If not, then he may want to check out those options:
Bisq
Robosats
Hodlhodl
Agora Desk
Azteco vouchers
Local Bitcoin meetup

2023-07-21 14:33:28

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Very cool! Is it possible to see this session later online?

2023-07-18 20:44:16

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Relai, Bity and Bittr are NOT KYC-free. They link the purchased bitcoins to your identity via your bank IBANs. If the law will require, those companies will disclose all the trade data and identities.
Bisq and Robosats are much better options because your identity via your IBAN is disclosed only to your private and personal trade partner.
Azteco vouchers is a good option if purchased with CASH or other cash equivalents.

2023-07-18 20:03:23

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Bisq
Hodlhodl
Robosats
Agora desk
Those are p2p KYC-free.
You may also want to check out Peach Bitcoin. This exchange is also p2p, but it’s run by a private company claiming it has no access to the ID details (it doubt it, although).
Relai or Pocket Bitcoin is the last resort because they see your IBAN meaning it’s not KYC-free.

2023-07-18 19:58:27

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It depends on your chosen fiat payment method. Just check out those p2p non-KYC exchanges:
Bisq
Robosats
Hodlhodl
Agora Desk

2023-07-16 10:21:51

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I’ve been using both for some time already. Everything was pretty quick. Robosats is easier, Bisq requires more effort but has more liquidity.
Also you may want to check out Hodlhodl and Agora Desk.

2023-07-08 02:11:23

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You need a fresh start to be totally KYC-free.
(1) Sell your "KYC'd to your identity" coins or just keep them separately
(2) Buy some "non-KYC'd to your identity" coins for cash / amazon gift cards / azteco vouchers to be able to pay your initial security deposit at Bisq
(3) Start purchasing at Bisq
(4) Withdraw from Bisq to your clean "non-KYC'd to your identity" wallet via coinjoin

2023-07-06 22:17:05

I have already onboarded to Bisq quite a few people interested in KYC-free btc and every time they asked the same question:
"How and where do I get that initial btc amount required for the security deposit for the first Bisq trade without any link to my identity?"
Obviously, it's not the best idea to get that amount directly from a KYC exchange into Bisq because your further transactions at Bisq may become traceable.
Here are some solutions worked out in the process:
(1) Buy btc from a KYC-free seller for CASH, gift cards etc (meetups, friends, amazon gift cards etc)
(2) Buy btc from a KYC exchange and coinjoin (Samourai wallet etc)
(3) Buy btc from a KYC exchange and run "btc->monero->btc" conversion at a KYC-free exchange
(4) Buy a crypto voucher for CASH, Paysafecard etc (Azteco, Bitnovo etc)

2023-07-01 15:19:52

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BTC on-chain is for hodling, BTC LN is for quick, relatively small tx and Monero is for strong privacy.
That's how I use all of them taking the best from all the worlds.
Thanks, guys, for the discussion!

2023-07-01 02:49:46

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Nope, as soon as you have issued a certain amount of ecash tokens, your withdrawable mint balance is reduced by that number.

2023-06-28 13:37:35

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To give you some variation:
Take the current Fee Rate (sats/vB) and it's your number of repetitions :-)
If it's too many, just divide by 10 and round up.