Topic: Goodbye, privacy, goodbye, it was nice while it lasted. - page 2. (Read 2437 times)

snip.

CBDC is and will always be 100% centralized and you can't and will never be able to have any kind of privacy using it. In a sense it is no different than using banks as you already do. The bill on the other hand is targeting centralized services which doesn't affect bitcoin or "all aspects of people's financial activity".
Bitcoin on the other hand will always be decentralized and nobody can control it or your transactions. All they can do is to control big centralized places like a payment processor that shouldn't even exist in bitcoin ecosystem, or exchanges and such. But for example they can never force a supermarket that accepts bitcoin to ask for KYC when someone pays for a bag of chips.

snip

This was to be expected since governments often see crypto as a threat to the existence of Fiat. The EU decided to "up" their game as they believe crypto can be used by Russians to avoid sanctions. Other countries are tightening regulations for the same reason. Privacy in crypto/Blockchain land was relatively non-existent since centralized exchanges and transparent cryptocurrencies like Bitcoin and Ethereum have dominated the industry for long. There are only a few privacy-oriented solutions, but adoption is relatively low.

What matters is that crypto stays decentralized so that it can stand the test of time. As long as there are defenders of privacy and decentralization, there should be nothing to worry about. Just my thoughts

Being in a union cuts both ways. When you are out of it, you can't benefit from the advantages like tax agreements and that returns you higher import prices. However you can create competition by making more investor friendly laws and that will attract more investors like how UK done here.

It seems to me decentralization is a good thing even on a country level.

The more independent countries we have, the more competition we have. The more competition we have, the more investor-friendly laws we get and that means the world government will never work out. Globalism is a fad.

After this horrible thing happened it is great for at least the UK is out of the Eurozone and there are a couple of exchanges there which can offer to withdraw money to your bank account or a crypto wallet that you own,Cex being one of them and I did a transaction as a test compared to other exchanges in the EU,it passed without problems to my bank account the money and also to my crypto wallet.I think we need more countries like this who do not give a damn about what Europe does.

After this horrible thing happened it is great for at least the UK is out of the Eurozone and there are a couple of exchanges there which can offer to withdraw money to your bank account or a crypto wallet that you own,Cex being one of them and I did a transaction as a test compared to other exchanges in the EU,it passed without problems to my bank account the money and also to my crypto wallet.I think we need more countries like this who do not give a damn about what Europe does.

After this horrible thing happened it is great for at least the UK is out of the Eurozone and there are a couple of exchanges there which can offer to withdraw money to your bank account or a crypto wallet that you own,Cex being one of them and I did a transaction as a test compared to other exchanges in the EU,it passed without problems to my bank account the money and also to my crypto wallet.I think we need more countries like this who do not give a damn about what Europe does.

After yesterday's vote of the European Parliament committee, I have become very pessimistic:
...

...

Everything is changing before our eyes in the digital currency industry. With bans on anonymous transactions well underway, the U.S. SEC circling the likes of Ripple and Tether, and Satoshi’s Bitcoin slowly being understood as an electronic cash system designed for small casual payments that works within the law and which is always subject to it, things are ever so slowly changing for the better. If the EU votes to pass the new rules, it will be another nail in the coffin for the false narrative plaguing the industry[/i]."

And the problem with this is that it sets a precedent and entrenches a trend of increasing state control.

What do you think about it? Are you as pessimistic as me or this article?

Edit: go to page 2 for the key proposals of the draft.

Also: PLEASE REALIZE THAT franky's ARGUMENTS ARE GARBAGE. As they are based on a former draft on a slightly different subject, that didn't pass, as I've shown on page 2.

Bitcoin is indeed above government regulations, but each country or government has its own rules or regulations. The government will not fully regulate Cryptocurrency they only regulate the entrance but not for the inside.

Bitcoin is indeed above government regulations, but each country or government has its own rules or regulations. The government will not fully regulate Cryptocurrency they only regulate the entrance but not for the inside. Don't worry, your personal wallet will still be decentralized and only you can manage it, because you own the private key.

as long as you don't publish your personal wallet address, everything will be safe.
stay away from exchanges that require KYC if you really don't want to be exposed.

Due to the specific characteristics and risk profile of crypto-assets, the information obligation should apply to crypto-assets transfers, regardless of the value of the transfer.[/b] There are clear indications that crypto-asset activities associated with criminal activities and terrorism financing are often transfers of small value. Furthermore, crypto-assets and related technologies enable criminals to split high value transfers into small amounts across multiple wallet addresses in order to avoid detection of AML/CFT monitoring systems and to carry out illicit activities via structured transactions to a scale and global reach not available to wire transfers.

The latest news info - UK wants to be a crypto hub and plan to exploit the crypto potential, what about EU - did they still want to commit a crypto suicide with their overregulations? I guess will soon find out?! UK probably made the right choice leaving the EU.

After such actions, will you still have a desire to use this "perfectly fine site"?

1.3. Consent to Access, Processing and Storage of Your Personal Data & Identity Verification. During registration for your Coinbase Account, or at any other time deemed necessary by Coinbase, you agree to provide us with the information we request for the purposes of identity verification, providing Coinbase Services to you, and the detection of money laundering, terrorist financing, fraud, or any other financial crimes and permit us to keep a record of such information. The information we request may include certain personal information, including, but not limited to, your name, address, telephone number, e-mail address, date of birth, taxpayer identification number, government identification, and information regarding your bank account (such as the name of the bank, the account type, routing number, and account number) and in some cases (where permitted by law), special categories of personal data, such as your biometric information. You consent to us accessing, processing and retaining any personal information you provide to us for the purpose of us providing Coinbase Services to you.
This consent is not related to, and does not affect, any rights or obligations we or you have in accordance with data protection laws, privacy laws and regulations. You can withdraw your consent at any time by closing your account with us. However, we may retain and continue to process your personal information if we reasonably believe it is necessary in order to comply with laws or regulations. In providing us with this or any other information that may be required, you confirm that the information is accurate and authentic. You agree to keep us updated if any of the information you provide changes. You authorize us to make inquiries, whether directly or through third parties, that we consider necessary to verify your identity or protect you and/or us against fraud or other financial crime, and to take action we reasonably deem necessary based on the results of such inquiries. When we carry out these inquiries, you acknowledge and agree that your personal information may be disclosed to credit reference and fraud prevention or financial crime agencies and that these agencies may respond to our inquiries in full. This is an identity check only and should have no adverse effect on your credit rating. We reserve the right at all times to monitor, review, retain and/or disclose any information as necessary to satisfy any applicable law, regulation, sanctions programs, legal process or governmental request. Further, you authorize your wireless operator (e.g., AT&T, T-Mobile, US Cellular, Verizon, or any other branded wireless operator) to use your mobile number, name, address, email, network status, customer type, customer role, billing type, mobile device identifiers (IMSI and IMEI) and other subscriber status details, if available, solely to allow verification of your identity and to compare information you have provided to Coinbase with your wireless operator account profile information for as long as you have a Coinbase Account. See our Privacy Policy and Cookie Policy for more information on how we process your personal data and the rights you have in respect of this.

Ones that I personally have used and recommend (in order of preference) are Bisq, LocalCryptos, and HodlHodl.

Another I am aware of which generally has a good reputation but I have never used personally and so would not recommend based on that alone is AgoraDesk.

I've also recently become aware of RoboSats (only available via Tor) which is a very new exchange looking to facilitate fiat/Lightning trades. One to keep an eye on, but again, I am not vouching for it by any means.

Localbitcoins has a long-standing reputation and has proven itself, this is indisputable. But times are changing and no one is able to resist the pressure of governments. I don't know if you have seen this news: Localbitcoins submitted data of over 100,000 Russian users to the tax authorities. I'll give you the first link I can find on this thread.

Localbitcoins was a perfectly fine site that worked for in-person cash trades until the regulatory climate forced LBC to kill off that feature (they could have moved to a different jurisdiction but that wouldn't be enough in the long term).

I would like to mention that I'd prefer recommending 'Bisq and X and Y' because always recommending the same service makes you sound like a shill, I realize that.

But surely that functionality doesn't have to take the form of a centralised website?  That's a big, easy target for regulators.  Alternatively, it could work as an open-source, downloadable software client which matches up prospective buyers and sellers.  That way people can distribute the software via torrent or other hard-to-shut-down filesharing methods.  Why aren't we just doing that?

Localbitcoins was a perfectly fine site that worked for in-person cash trades until the regulatory climate forced LBC to kill off that feature (they could have moved to a different jurisdiction but that wouldn't be enough in the long term).