Ciphersmith

@gladstein I very much doubt this is actually the case, particularly if the news is coming from Bloomberg.

Bitcoin fixes this

@notgrubles Why more people can't see the threat vector of CEXs is beyond me.

Civilizational fumble

@MastrXYZ "Maxis" who only care about nGu and have no concern whatsoever for bitcoin's monetary mission.

What damaged crypto the most? 1. Influencer shills 2. Centralized exchanges 3. Insider launches 4. Politicians/ institutions entering crypto 5. People defending scams 6. Ignorance and greed Add or/ and explain your answer below.

@vexl I'm very glad you brought this up. Once you've given up on privacy there's an apathy that sets in that ensures you'll give up your other rights without much fuss, one encroachment at a time.

The most dangerous thing about KYC is that people started calling it normal.

@MrHodl @moneyball I'm pleased someone else feels this way too.

@moneyball ..... i lost Bitcoin in 2011, also. There would be 0 chance i would use a Bitkey today. My mother in law that already trusts Block with her bitcoin... bitkey is for her. There is no replacement for sovereign bitcoin.

great example of where bitkey shines. most people aren't prepared to handle protecting a dozen words and a separate passphrase.

This is the way, gents.

@BitcoinPierre I doubt seriously if it will become law without BSA poison pills being added.

Clarity Act will enable buying and selling bitcoin without KYC/AML, it’s a roundabout repeal of the BSA by way of stablecoin secondary markets, with deposit banks as collateral damage.

@DBCrypt0 @gladstein You are correct, and that is why they are linking puff panels instead of academic whitepapers that have to reveal their methodology for making such an absurd claim.

@gladstein Where is this academic research data? There are not ‘tens of millions of people’ using bitcoin. Unless you consider holding in an exchange or ETF/fund ‘using’ Bitcoin.

Tens of millions of people are using Bitcoin, based on exchange, wallet, and academic research data WSJ: We don’t believe you “Some” people are using a random altcoin WSJ: Sounds good we’ll run a feature 🤡 publication

@gladstein @DBCrypt0 Link the paper on the index's methodology or it's just fluff, because the 10's of millions claim of regular use in transactions defies common sense.

@DBCrypt0 youtu.be/pdz43OknQ7A?si…

@notgrubles Well, you expect the CCP run a surveillance state. People don't expect it in the land of the free and the home of the brave, but this is exactly where it is thriving in plain sight.

Wow they have Flock cameras in China too.

@TheDesertLynx @PerpetualCow Innovation is going to outpace regulation. Count on it.

@PerpetualCow It's the exact same thing unfortunately. We need a real DEX. And we're getting it.

Let me explain to you guys why people use Wagyu. Before Wagyu existed, 90%+ of XMR volume ran through CEXs and instant swappers. The bigger your withdrawal, the more likely it got frozen. If you never experienced it, it is probably due to you having only traded $XMR for small amounts. The threshold based on my research was >$5k for disproportionate freezing, even if the funds have a perfectly clean risk score. Bigger amounts were treated as automatically suspicious, there was obviously a bias towards there. Funds got frozen behind endless KYC, source of funds checks and AML paperwork, no matter how clean your risk score was. It was legalized theft larping as compliance, they all abuse and profit off this system. How Wagyu fixed that problem: Wagyu does have compliance, it does do risk scoring checks BEFORE the swap happens. It will simply refuse your swap if it has a high risk score. Your funds do not get frozen, instead, it will simply not enter the Wagyu protocol. You will get refunded because we know how risk scores can flag up even if someone deposits you tainted money unknowingly. Freezing funds is not necessary to adhere to compliance, but none of the existing exchanges/swap sites want to fix it as they profit off it. Keep you stuck endlessly begging for them to release your funds which they will simply refuse and call it "compliance".

Who keeps voting for Elizabeth Warren??

You don't hate banks nearly enough.

@basedlayer She wants to keep the kickbacks coming from her bankster friends who make billions on the first use of new money while you get 0.1% yield on your idle funds, perpetuating the inflationary theft of your purchasing power.

They want to keep you in the building while it burns.

@EconWithNick AML for thee but not for me.

@notgrubles As you're aware, stablecoins are not simply backed by dollars. They are backed by a basket of assets, some of which have outperformed bitcoin over the last two years.

Anyone holding stablecoins has lost 30% of their purchasing power. Only in crypto can you get away with calling a token that does a -30% a "stable" coin.

Bitcoiners will spend 100 hours debating custody setups and then upload their passport to buy sats. Make it make sense.

@notgrubles Correct.

They're going to screw us with the Clarity act aren't they.

@sashahodler Licenses are the govts way of selling your rights back to you. You have a natural born right to build an unlicensed bank. The government wants you to get licenses so they can control the market. It’s anti-competitive and a violation of your rights.

@Bitkey Oh please. If you need seed phrase recovery you're a dummy and deserve this essentially custodial service. If you have a 2nd party recoverable sed phrase your coins arent yours. FFS.

A seed phrase on your desk isn’t a self-custody system. Bitkey Product Manager Jonathan Pollack shares why real ownership includes recovery, inheritance, and protecting every critical change on-device. That’s what Bitkey is built for.