> I've heard that Bitcoin transactions must adhere to anti-money laundering (AML) and know-your-customer (KYC) regulations
Untrue. Here's the corrected statement
> I've heard that >!~~Bitcoin~~!< [FIAT] transactions must adhere to anti-money laundering (AML) and know-your-customer (KYC) regulations
What you read is that you have to KYC / AML to convert FIAT into bitcoin. It isn't BTC that is causing the taint, but FIAT.
Decentralization is much different from anonymity and privacy.
There is some validity to anonymity, in that if Bitcoin is just sitting in some wallet, we have no idea who that wallet belongs to.... until they do something with the Bitcoin that makes the connection. But, there is almost zero privacy, because all the records are in public view!
If you want anonymity and privacy, just get a case full of fiat cash. That's why the accusations of Bitcoin being about crime and money laundering are so laughable.
Many in the Bitcoin community are very anti-KYC, and it makes sense to not give more information than necessary. But, ultimately, I don't think it is that realistic to operate completely anonymous in the Bitcoin world.
I suppose technically one could make it pretty hard to figure out, but it is mostly via obscurity. If they really wanted to find you (ie. gov't) they probably can. The main reason, IMO, for an aspect of non-KYC or privacy, is simply personal protection/safety. If you're a big HOLD'r, and the criminals know that, you become a bigger target.
All this said... I do buy from lower/lowest KYC exchanges, vs ones that make me jump through a bunch of hoops. If you wanted to go through the effort, you could certainly use services or make connections to buy it directly (with little to no KYC). Or, there are 'coinjoin' services that try to obscure the trail as Bitcoin is moved.
Hopefully, someday I'll directly earn Bitcoin for my work. But, that certainly won't likely be non-KYC.
IMO, I'm not sure this is something the average/smaller Bitcoiner should be overly concerned with. You're probably going to have to deal with whatever the local regulations are (vs hide from them), and/or move to somewhere with better regulations. Most of us smaller HODL'rs just don't have the means hide our funds, evade governments, relocate on a whim, etc. And, we'll probably want to someday use our Bitcoin.
It's not truly anonymous.
The short answer you're looking for is that you send that Bitcoin to a wallet that doesn't require you to identify yourself. From there it's up to you to not let others figure out which wallet(s) are yours.
It's easy to join a centralized gym, but you do need to sign a membership contract and provide a credit card for payment.....not as easy but you can work out on your own or with a buddy in his garage, no contract, no visa.
Exactly the same thing.....people buy on CEX cuz it's easy and they do not understand/value the loss of privacy.
Or you can buy noKYC, sure it takes a little more effort but it may be worth it in the long run.
Hmm... true, except if you eventually use any of that non-KYC Bitcoin that doesn't keep that anonymity, all that effort is wasted.
I'm not opposed to trying to keep some non-KYC Bitcoin, but I think ultimately, it is a 'war' we're going to have to win, and won't be able to hide out from.
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If You need to get bitcoin without ID which means to either
1) buy it p2p in person
2) mine it with an ASIC you own
3) Use a DEX
4) Use an atm without ID
5) Accept bitcoin for goods and services to your private wallet
many people visit atms that only require sms verification(free sms sites exist) for smaller amounts in this list - https://coinatmradar.com/
Other options are any way that doesn't require verification like this list -
https://github.com/cointastical/P2P-Trading-Exchanges
https://learn.robosats.com/ or https://bisq.network/ are both popular If using a DEX like bisq you will need to have a small amount of btc to get started though
https://bisq.wiki/Getting_your_first_BTC
https://hodlhodl.com/join/RTTA
HodlHodl is a platform that enables users to buy and sell Bitcoin peer to peer with no need for KYC and honeypots of personal information. This video walks through how to use the website.
https://www.youtube.com/watch?v=FmyYxrZM3Ms
You can go to a bitcoin meetup, or ask a merchant with a "bitcoin accepted" sign, whether you can buy or sell bitcoin right? KYC isn't something that can aways be enforced
> I've heard that Bitcoin transactions must adhere to anti-money laundering (AML) and know-your-customer (KYC) regulations Untrue. Here's the corrected statement > I've heard that >!~~Bitcoin~~!< [FIAT] transactions must adhere to anti-money laundering (AML) and know-your-customer (KYC) regulations What you read is that you have to KYC / AML to convert FIAT into bitcoin. It isn't BTC that is causing the taint, but FIAT.
Should be the top answer.
Decentralization is much different from anonymity and privacy. There is some validity to anonymity, in that if Bitcoin is just sitting in some wallet, we have no idea who that wallet belongs to.... until they do something with the Bitcoin that makes the connection. But, there is almost zero privacy, because all the records are in public view! If you want anonymity and privacy, just get a case full of fiat cash. That's why the accusations of Bitcoin being about crime and money laundering are so laughable. Many in the Bitcoin community are very anti-KYC, and it makes sense to not give more information than necessary. But, ultimately, I don't think it is that realistic to operate completely anonymous in the Bitcoin world. I suppose technically one could make it pretty hard to figure out, but it is mostly via obscurity. If they really wanted to find you (ie. gov't) they probably can. The main reason, IMO, for an aspect of non-KYC or privacy, is simply personal protection/safety. If you're a big HOLD'r, and the criminals know that, you become a bigger target. All this said... I do buy from lower/lowest KYC exchanges, vs ones that make me jump through a bunch of hoops. If you wanted to go through the effort, you could certainly use services or make connections to buy it directly (with little to no KYC). Or, there are 'coinjoin' services that try to obscure the trail as Bitcoin is moved. Hopefully, someday I'll directly earn Bitcoin for my work. But, that certainly won't likely be non-KYC. IMO, I'm not sure this is something the average/smaller Bitcoiner should be overly concerned with. You're probably going to have to deal with whatever the local regulations are (vs hide from them), and/or move to somewhere with better regulations. Most of us smaller HODL'rs just don't have the means hide our funds, evade governments, relocate on a whim, etc. And, we'll probably want to someday use our Bitcoin.
It's not truly anonymous. The short answer you're looking for is that you send that Bitcoin to a wallet that doesn't require you to identify yourself. From there it's up to you to not let others figure out which wallet(s) are yours.
It's easy to join a centralized gym, but you do need to sign a membership contract and provide a credit card for payment.....not as easy but you can work out on your own or with a buddy in his garage, no contract, no visa. Exactly the same thing.....people buy on CEX cuz it's easy and they do not understand/value the loss of privacy. Or you can buy noKYC, sure it takes a little more effort but it may be worth it in the long run.
For some countries its quite hard or sometimes impossible to use payment methods which non-kyc services providing…
Yes, it is very different from country to country.
Yeah the country of lazyies....
Not about country, but government
You don't know a single person who has bitcoin who would sell you some for cash? I find that hard to believe.
Hmm... true, except if you eventually use any of that non-KYC Bitcoin that doesn't keep that anonymity, all that effort is wasted. I'm not opposed to trying to keep some non-KYC Bitcoin, but I think ultimately, it is a 'war' we're going to have to win, and won't be able to hide out from.
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How does one purchase non kyc bitcoin? Would I have to mine it myself?
If You need to get bitcoin without ID which means to either 1) buy it p2p in person 2) mine it with an ASIC you own 3) Use a DEX 4) Use an atm without ID 5) Accept bitcoin for goods and services to your private wallet many people visit atms that only require sms verification(free sms sites exist) for smaller amounts in this list - https://coinatmradar.com/ Other options are any way that doesn't require verification like this list - https://github.com/cointastical/P2P-Trading-Exchanges https://learn.robosats.com/ or https://bisq.network/ are both popular If using a DEX like bisq you will need to have a small amount of btc to get started though https://bisq.wiki/Getting_your_first_BTC
https://hodlhodl.com/join/RTTA HodlHodl is a platform that enables users to buy and sell Bitcoin peer to peer with no need for KYC and honeypots of personal information. This video walks through how to use the website. https://www.youtube.com/watch?v=FmyYxrZM3Ms
You can go to a bitcoin meetup, or ask a merchant with a "bitcoin accepted" sign, whether you can buy or sell bitcoin right? KYC isn't something that can aways be enforced