rieger_san on Nostr: Coinjoin is useless when it comes to KYC. The KYC process identifies you so that ...
Coinjoin is useless when it comes to KYC.
The KYC process identifies you so that specific transactions can be bound to you. Making a Coinjoin doesn’t delete the Database of the exchange. They will always know that you have bought Bitcoin.
A normal transaction is enough, because no one can tell if it’s your address or not. When you tell someone you habe sold the sats p2p no one can prove the information is right or wrong.
A Coinjoin disconnects transactions from each other. That’s good for privacy but not for KYC. You have given your privacy away with the registration.
I would say a normal transaction is much better than a coinjoin when it comes to breaking a KYC link.
A normal transaction is not suspicious, a coinjoin is. But that’s just my point of view
The KYC process identifies you so that specific transactions can be bound to you. Making a Coinjoin doesn’t delete the Database of the exchange. They will always know that you have bought Bitcoin.
A normal transaction is enough, because no one can tell if it’s your address or not. When you tell someone you habe sold the sats p2p no one can prove the information is right or wrong.
A Coinjoin disconnects transactions from each other. That’s good for privacy but not for KYC. You have given your privacy away with the registration.
I would say a normal transaction is much better than a coinjoin when it comes to breaking a KYC link.
A normal transaction is not suspicious, a coinjoin is. But that’s just my point of view