Dr. Fernando Morales on Nostr: Thanks for the response, I'm trying to learn about the different perspectives in ...
Thanks for the response, I'm trying to learn about the different perspectives in order to see what's best for my personal circumstances. I also think there might be a time people will mainly earn in BTC and kyc/non-kyc will become irrelevant, the current lines of thinking I see are the following:
1. The optimist, perhaps naive to some:
If I think BTC will be the world's money eventually, wouldn't it be better to stack "cheaper" (kyc) sats? Buying non-kyc will only mean being "poorer" in the future. Plus with wealth, you can vote with your feet and go where you're treated best (living in [various] smaller less controlling nations that are actually competing for foreign capital).
2. The cautious, perhaps a doomer to some:
The world might transition to using bitcoin but it might be a bumpy ride with governments trying to steal and control as much as they can before going out. Buying non-kyc increases my chances of keeping some of that bitcoin in the future.
I think the optimal way of thinking lies somewhere in between. The optimist runs a larger risk of his private information being leaked to hackers or governments. The cautious will have to spend their BTC eventually (for a house, a car or something) and never make a privacy mistake, because if he/she lacks proper UTXO management or whatever, their BTC stash amount could be known and even have their identity discovered. Making all/most of their privacy enhancing measures irrelevant.
1. The optimist, perhaps naive to some:
If I think BTC will be the world's money eventually, wouldn't it be better to stack "cheaper" (kyc) sats? Buying non-kyc will only mean being "poorer" in the future. Plus with wealth, you can vote with your feet and go where you're treated best (living in [various] smaller less controlling nations that are actually competing for foreign capital).
2. The cautious, perhaps a doomer to some:
The world might transition to using bitcoin but it might be a bumpy ride with governments trying to steal and control as much as they can before going out. Buying non-kyc increases my chances of keeping some of that bitcoin in the future.
I think the optimal way of thinking lies somewhere in between. The optimist runs a larger risk of his private information being leaked to hackers or governments. The cautious will have to spend their BTC eventually (for a house, a car or something) and never make a privacy mistake, because if he/she lacks proper UTXO management or whatever, their BTC stash amount could be known and even have their identity discovered. Making all/most of their privacy enhancing measures irrelevant.