Quote from: o_e_l_e_o on April 05, 2023, 09:43:32 AM

Quote from: mv1986 on April 05, 2023, 09:23:31 AM

-snip-

The solution is simple: Don't use centralized exchanges.

I don't need to use a centralized exchange to "cash out" my bitcoin, since I can either spend it directly with merchants or trade it peer to peer just as I did when I bought it.
I don't care if centralized exchanges start demanding even more ridiculous KYC or require you to identify all your personal addresses to them. I will never use them and so they have no jurisdiction over me whatsoever. If anything, such draconian rules will just push more and more people to trade using real DEXs, not these centralized fakes like LBC and Paxful.

Ok but do I understand correctly that when I want to acquire Bitcoin with fiat via Bisq that Bisq only handles the Bitcoin transfer while I have to use the traditional banking system to wire the fiat money? Once financial authorities get involved asking me for the origin of my coins, I would have to tell them anyway with whom I transacted. It is still better than doing it directly via a centralized exchange, but a result could be that they do get the data they want either way. The problem is that the governments are trying to cause trouble for you if you can't properly prove the origin of funds. I am not a fan as you can imagine of what might be coming our ways in Europe. I hope it is not going to happen the way they wanted it to happen like a year ago or so. So far it is still all cool, but one reason for that might be that people do actually pay their taxes. If they weren't, there would be more incentive for authorities to crack down (besides their hunger for limitless data).