Post
Topic
Board Bitcoin Discussion
Merits 2 from 1 user
Re: Bitcoin was created to reform money and provide financial freedom
by
PrivacyG
on 29/02/2024, 03:06:36 UTC
⭐ Merited by DooMAD (2)
The option is certainly there for people to use Bitcoin in the correct manner if they wish to.  They'll be the rare fortunate ones to gain the privacy and security benefits.  I'll always advocate for taking this approach.  But I think the number of people actually doing it will remain relatively small.  Even if it is safer and more beneficial.
One problem.  Due to every body else happily abiding to Know Your Customer and all other sorts of policies and regulations, us who choose to benefit from Privacy and Security are starting to suffer.  The option to use Bitcoin as it was meant to be used is still there.  But this option is slowly becoming not an option any more if only few of us can spend and receive without giving up personally identifiable information.

By restricting us, every body else kind of enforces the Know Your Customer way into every body.  Realistically speaking.  How difficult is it today to buy and sell Bitcoin with no Know Your Customer compared to five years ago?  The people who were abiding before and who did not care is not affected in any way today.  On the other end of the stick, we are affected enormously.

It is nice that we still get a chance to use Bitcoin the way we want.  But while that is due to the lack of Censorship in Bitcoin, restrictions make it almost impossible to use it the way we really want nowadays.