Oddbean new post about | logout
 "It's very hard to do Bitcoin trades without KYC" is exactly the problem. Hell will freeze over before I KYC for anything willingly and I'm certainly not doing it for $50 of Bitcoin in a personal trial run... which sucks to say because I do see many of the ways it can significantly improve our future. However, if governments can simply block all the entries like this, I'm not sure it's quite the be-all/end-all that many claim.

The dumb thing is, I'm not even explicitly anti-KYC because I want financial privacy (though that is still quite important). It's that I'm not about to give sensitive documentation (which is difficult to replace) to a centralized platform that's highly targeted by blackhats, especially not when I'm incapable of verifying that they're doing due diligence. I'm also not about to give selfies to these platforms for Lord knows what purpose, which would make a data breach even WORSE for the victims involved.