Oddbean new post about login | logout Just wild. I successfully used a relay in China to make a Lightning payment. https://image.nostr.build/214f611aec3aee133d0bcf8473869dac589721ccf15b9e606adec5b62c10d427.jpg
Tim - are you in China? The financial system is locked down in China. Curious to know if this is a way for Chinese to get their money out of China? Thoughts? I don't think they can stop it - but if you got caught.... ouch.
Every Chinese has 50k usd quota per year
there's no sense to get their fiat money "out of china" into another fiat. i tried to transfer some into my Euro account then realized EU is crazier on money transfer scrutiny even between own accounts, idk how about an USD account
Gotcha. It makes sense. How about #Bitcoin? Preservation of wealth? Probably like West, few understand. Correct?
yeah very FEW. and in China it's very hard to orange pill people because of the heavy speech censorship
This kinda scares the shit out of me. I always think, "How can someone subject themselves to living like this?" And then I wake up and realize it's happening in USA too.
how is US handling individuals' bank tractions? i heard the IRS is quite omnipotent
Most transactions are through a bank. Because banks have to comply with KYC (Know Your Customer) they have access to all transactions with a search warrant for ALL accounts. There are many stories of peoples accounts being frozen for 'suspicious' activity. I don't think this is the norm. BUT it can be done with the current system in place. The IRS can take money from accounts, and garnish wages. BUT I think it's quite rare - maybe getting more so but still very rare. The idea these systems are in place are beyond comprehension to me - why Bitcoin wins with me.
🥜💰👀 nostr:nevent1qqs2tr8afk7frwdya2mewdyh4knekqx3ntmwrmk4uz644c4t7jhfn3cpr9mhxue69uhhyetvv9ujumt0d4hhxarj9ecxjmnt9upzqp4hsxwh78rl23eprqnxa4au4pu9mn4wp83kagay4an9cmgasvnuqvzqqqqqqyev9xzy
The most cypherpunk post I have seen in a while.
