Jason Voorhees
๐ธ๐๐๐๐๐๐๐๐ ๐ฎ๐๐๐ โข ๐๐๐๐๐ฅ
- Joined
- May 15, 2020
- Posts
- 94,110
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I genuinely don't get why so many users here throw tantrums and jump through hoops for no KYC buys. I'll make it clear here you can't buy crypto without KYC unless you do peer to peer but it shouldn't matter. KYC isn't doxxing teenagers it's a basic AML tool so regulators can trace wallet addresses to real identities but isn't a privacy risk.
Even Monero with its fancy ring signatures and stealth addresses for hiding transactions, gets targeted because bad actors love it but the point is they don't care about your $500 ETH stack or edgy teenage trades for drugs on dark web. The entire system is built to flag massive suspicious flows, freeze CEX accounts tied to sanctioned entities.
In other words it is to stop drug cartels, billionaires, money launderers, terrorists, international financial criminals etc to stop people like these from moving large sums of money across the border. I will tell what you should be worried about it is centralized honey pots. Exchanges and third party KYC vendors that get breached like Ledger and Coinbase but otherwise they don't give a flying fuck about you. You're not a cypherpunk hero protagonist. No one cares about you and no one is out there to get you. You are too irrelevant and small for anyone to care.
Even Monero with its fancy ring signatures and stealth addresses for hiding transactions, gets targeted because bad actors love it but the point is they don't care about your $500 ETH stack or edgy teenage trades for drugs on dark web. The entire system is built to flag massive suspicious flows, freeze CEX accounts tied to sanctioned entities.
In other words it is to stop drug cartels, billionaires, money launderers, terrorists, international financial criminals etc to stop people like these from moving large sums of money across the border. I will tell what you should be worried about it is centralized honey pots. Exchanges and third party KYC vendors that get breached like Ledger and Coinbase but otherwise they don't give a flying fuck about you. You're not a cypherpunk hero protagonist. No one cares about you and no one is out there to get you. You are too irrelevant and small for anyone to care.
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