ferenckovacs on Nostr: I tried out strike’s service. It simply asked if I was sending Bitcoin to myself or ...

I tried out strike (npub1ex7…vyt9)’s service. It simply asked if I was sending Bitcoin to myself or someone else—just a checkbox, confirm, and the Bitcoin was sent. I transferred €720, below the €1000 threshold, but I’ll test higher amounts soon. 💪 #MiCA #TravelRule #Bitcoin

quoting note1cxw…7wug

The EU is back with more attacks on our freedom. 🛑 Their 2025 MiCA and Travel Rule regulations are just another step to control and surveil our financial lives. These tools of control, disguised as “transparency,” aim to micromanage Crypto Asset Service Providers (CASPs), which include any exchange or platform facilitating crypto transactions. The Travel Rule forces exchanges to collect and share private data about Bitcoin users, compromising privacy and financial freedom.

Here’s what you need to know:
• Below €1000: You’ll need to self-declare address ownership.
• Above €1000: Proof of address ownership is mandatory, either by sending a small deposit back to the exchange or signing a message with your private key.

This compliance theater is not about protection—it’s surveillance. But while we live under these nonsensical rules, we can prepare and adapt with a smart approach.

1️⃣ Create a dedicated Taproot wallet for KYC transactions. Taproot wallets (bc1p addresses) provide improved efficiency, lower costs, and robust security. Use wallets like @nunchuk_io or @sparrowwallet to generate these addresses.
2️⃣ Use this wallet exclusively for withdrawals from KYC exchanges.
3️⃣ Immediately transfer funds to a separate cold storage wallet to keep your sats safe.

This strategy minimizes risks, keeps your KYC Bitcoin organized, and maintains a clear separation from non-KYC funds.

Looking ahead, a firmware update for @COLDCARDwallet will soon enable Taproot wallets on hardware devices, allowing fully offline security for self-custody. Until then, wallets like Nunchuk and Sparrow are reliable hot wallet options for short-term transactions.

And remember: if you buy Bitcoin peer-to-peer, none of these rules apply. No one will ask you why you’re sending Bitcoin or to whom. This is the power Bitcoin gives us: financial freedom without permission. 💪

As an entrepreneur, I embrace Bitcoin in my businesses. In fact, we operate the first hotels in Hungary that accept Bitcoin for payments:
• @HotelAuroraHU
• @HotelAtlantisHU

I always encourage other entrepreneurs to lead the way. Don’t wait for customers to demand Bitcoin acceptance—take the first step and show them the value of freedom money. 🌟 #Bitcoin #Taproot #FreedomMoney