Oddbean new post about login | logout I don’t think you understand the function of boating accidents. You see, when you go to un-kyc your coins, you realize you can’t because someone else found your keys and un-kyc’d them to themselves.
What does it mean "to un-kyc your coins", practically speaking?
Coinjoin, joinmarket, wasabi/samourai, etc These are means of enforcing your right to privacy from third party and government snoops.
OK, and how do you define "boating accident" precisely? You gonna tell the feds you literally lost your private key? Or something else e.g. your wallet was hacked
You learn to say: I don’t answer questions.
Aight, will be interesting to see how that plays out in worst case scenarios Lyn is considering.
Yup. If you bend over and make it easy for them to steal from you, they will.
Using KYC services is bending over
Yup. And un-kycing your coins is the opposite.
Sure, if you like taking it in the first place
You can pay through the nose for non-KYC sats. Or you can create them for less.
I pay 0% premium for no-KYC sats
If you’re getting a discount, you might be buying from a criminal. KYS.
lmfao get some principles. First you say "don't bend over" and now you're worried about them?
I think it's incredibly naive to think that you're going to dis-intermediate the bankers that run the world and when their enforcement division comes at you, you're going to tell them, "I'm not going to answer any questions." And you rhink they're just going to walk away and leave you alone. Theyre not. They're going to have your keys or they're going to kill you to take your UTXOs off the board. That is how power works.
What are you saying? That the promise of bitcoin will fail when facing the powers that be? If not safety in numbers than what?
Without privacy, you have no wealth. There will always be a bigger, better armed bully. Therefore, lack of Bitcoin privacy jeapordizes its censorship resistance. also "boating accidents" on a transparent ledger are a farce. nobody is going to believe that shit.
It’s true we could be forced to reject the founding documents of America and essentially lose our nation. But that’s why we have guns. An armed populace is necessary to maintain the security of a free state. Arms aren’t necessary if we give up freedom and/or security.
Yup not happening youre KYC’ed. Only way was the OG’s who are never moving their coin