L0la L33tz on Nostr: Another day, another exchange I am suspended from. All of my funds are conjoined or ...
Another day, another exchange I am suspended from.
All of my funds are conjoined or swapped between LN/XMR for privacy before sending to exchanges, triggering all sorts of nonsense AML flags.
The exchange I am with now is requesting proof of funds, meaning it wants to see fiat coming into my bank account from an entity I have a business relationship with, asking me to "kindly assist them" in surveilling me.
Except that all of my business relationships are handled in bitcoin – meaning that it is impossible for me to show proof of fiat funds.
Alternatively, the exchange says, I could send them “the address” to which I received payment in the last year, matching the amount of money I have exchanged on their platform.
Obviously no such address exists as I create a new address for each transaction (and so should you). Additionally, much of my money comes in through donations, for which I simply do not have an invoice.
I could now send them every single zap I ever received on nostr in the past year – for context, that would be over 250 zaps in the past week alone, s/o to all the zappers – or I could move my business to Switzerland, where I can exchange up to 1000 CHF per day KYC-free (for now), which is what I’m going to do.
However, since I’ll be more heavily relying on peer-to-peer exchanges from now on, I’ll likely have my bank account flagged for receiving weekly payments from randos on the internet, making it fairly foreseeable that I’ll be losing my bank account in the coming months as well.
Fundamental rights violations aside, the amount of complete nonsense work – and with that costs – this system creates both for the Government and private institutions is absolutely astonishing. If there ever was a true bullshit job, compliance officer would no doubt be it.
It’s time we end the global discrimination complex inherent to the financial system in which we are all guilty until proven innocent, only to upkeep an inefficient system that is useless in preventing crime but formidable for imposing mass surveillance on the people.
So no, I will not "kindly assist you" in surveilling me, and if I die on this hill.
Until then, shill me your favorite tools to pay my bills in bitcoin 👇
All of my funds are conjoined or swapped between LN/XMR for privacy before sending to exchanges, triggering all sorts of nonsense AML flags.
The exchange I am with now is requesting proof of funds, meaning it wants to see fiat coming into my bank account from an entity I have a business relationship with, asking me to "kindly assist them" in surveilling me.
Except that all of my business relationships are handled in bitcoin – meaning that it is impossible for me to show proof of fiat funds.
Alternatively, the exchange says, I could send them “the address” to which I received payment in the last year, matching the amount of money I have exchanged on their platform.
Obviously no such address exists as I create a new address for each transaction (and so should you). Additionally, much of my money comes in through donations, for which I simply do not have an invoice.
I could now send them every single zap I ever received on nostr in the past year – for context, that would be over 250 zaps in the past week alone, s/o to all the zappers – or I could move my business to Switzerland, where I can exchange up to 1000 CHF per day KYC-free (for now), which is what I’m going to do.
However, since I’ll be more heavily relying on peer-to-peer exchanges from now on, I’ll likely have my bank account flagged for receiving weekly payments from randos on the internet, making it fairly foreseeable that I’ll be losing my bank account in the coming months as well.
Fundamental rights violations aside, the amount of complete nonsense work – and with that costs – this system creates both for the Government and private institutions is absolutely astonishing. If there ever was a true bullshit job, compliance officer would no doubt be it.
It’s time we end the global discrimination complex inherent to the financial system in which we are all guilty until proven innocent, only to upkeep an inefficient system that is useless in preventing crime but formidable for imposing mass surveillance on the people.
So no, I will not "kindly assist you" in surveilling me, and if I die on this hill.
Until then, shill me your favorite tools to pay my bills in bitcoin 👇