KYC means Know Your Customer, and it has been introduced as a way to verify users and account holders. It started as an excuse to combat money laundering and only when handling money in an account, but as we’ve seen lately it’s been abused everywhere, even in Facebook and Twitter (X) accounts.
KYC has not been proven to do anything to help combat money laundering but they still force it with stricter rules every year that passes.
We really like Peach Bitcoin, it’s a great P2P app in which you can even transact in cash at your local meetup like we do in Athens. You can sign up here with the referral code LOVEISBITCOIN for a few extra points loveisbitcoin.com/peach
But the important thing is, can non-KYC bitcoin be stopped by a powerful government?
Tony from Bitcoin Way has an answer to that.
Transcription:
Someone asked me a very interesting question the other day and that’s if I thought compliance or regulation can somehow kill or stop no KYC bitcoin, the short answer to that is absolutely not.
I’m not worried about this whatsoever. PeerToPeer is, you know, is a system that distributes data and resources across a global network of decentralized individuals.
So unless somehow you find a way of putting away 8 billion people that at some point are going to want to transact in the only form of pure money available to them, peer to peer no KYC bitcoin is not going anywhere.
Any attempt to coerce individuals into perhaps thinking this is wrong or illegal might work on some will likely be ignored by most.
I don’t believe anyone has the right to dictate how individuals use their money, how they spend their time and energy.
Obviously, I’m speaking within the confines of legitimate laws and rules. I’m not advocating anyone break any rules or engage in any illegal activity whatsoever. But outside of that, peer to peer no KYC bitcoin is part of the ecosystem and I do not believe anything can stop it.
Any attempts to do so will likely be defended aggressively.
If you’re interested in buying non-KYC bitcoin, here’s a great guide to start with. https://bitcoiner.guide/nokyconly/ but it can become daunting when you’re confronted with the tools necessary to do so. Bisq requires a capital of bitcoin to begin with, robosats can be difficult with the whole Tor-only access, and generally none of them are good for large amounts if that’s what you’re looking for.
Tony from Bitcoin Way can answer your questions, alleviate your fears and help you get no-KYC bitcoin with no problems whatsoever. Book a call now at loveisbitcoin.com/call
