Post
Topic
Board Bitcoin Discussion
Re: The PATRIOT Act comes to cryptocurrency
by
Zaguru12
on 23/10/2023, 21:54:56 UTC
The propaganda machines has been working for several years now to changed the narrative is on Bitcoin and privacy, and they've done such a good job at it that even some Bitcoin users start asking the question of 'why someone wants privacy?' and even those who do not ask the question and sees nothing wrong in wanting privacy does not d anything to protect theirs or teach others how to.

If you ask people who do not have any problem with KYC exchanges you will definitely get the answer that it is use to reduce the risk of crimes or can be used to track down people using it to commit crimes ( at least that’s what the government wants them to believe). The same government that can’t tame down crimes done with fiat and transactions done through banks that have almost all users data.

People will tell you that without centralized exchanges they can exchange their funds and if you suggest decentralized exchanges for them the next question goes to the point that decentralized exchanges do not have much liquidity compared to their counter part. How will they get the liquidity when are busy using the centralized ones, it is not that this liquidity is something that is bought, once we migrate and use more decentralized exchange and give it more liquidity we will be at least saving bitcoin primary purpose which is privacy

Just one more note to anyone like me having coins from KYC exchanges. It is ok to have them, just don't mix them with the non-kyc ones. Privacy is everything. If you want to get rid of your KYC coins, that's even better and you will find many ideas in the forum.

It is not ok to have them as long as they are linked to you. Separating them wouldn’t matter much as they could still be traced to you ones they exists, get total rid of them either by mixing them or converting them to fiat and then buy those coins back from decentralized exchanges.