Post
Topic
Board Bitcoin Discussion
Merits 8 from 4 users
Re: Goodbye, privacy, goodbye, it was nice while it lasted.
by
DaveF
on 09/04/2022, 14:26:49 UTC
⭐ Merited by o_e_l_e_o (4) ,malevolent (2) ,vapourminer (1) ,JayJuanGee (1)
Cryptocurrency payment processors are also sometimes asking for KYC, if they aren't, they can be eventually compelled to do so.
Absolutely. Don't even get me started on the clusterfuck that is BitPay. DaveF will tell you how long I can rant about them. Tongue This is why the best solution is for merchants to use their own self hosted processor such as BTCPay.

A lot, he can rant a lot. :-)

Bit of a ramble, but I also think it comes back a bit to philosophy.
I tend to use the "fight the fights you can win" theory when it comes to crypto and IMO  @o_e_l_e_o tends towards the "fight the fights that need fighting"

I don't like BitPay or any of the other intrusive services. But if I can talk a merchant into taking BTC and they don't want to do it themselves there is a limit to what is out there that does not totally rake you over the coals in terms of rates.

So in the end if it's BitPay / Coinbase Commecre / CashApp-Square / or nothing I'll choose to send them to one of those evil KYC places because *I* see it as a win that another merchant takes BTC.

Others that fight the fights that need fighting will see it as a loss since privacy just got slammed.
We need both types of people IMO.

2 side comments about BitPay.
1) They are now starting to take lightning payments
2) Unless you are doing that 1 large purchase that puts you over their somewhat arbitrary limit, they track by email for total spent. Disposable emails do help that issue a bit.

-Dave