Topic: The rise of the no KYC exchanger - page 4. (Read 864 times)

The problem here is with the assets. Sure, there are decentralized non KYC platforms but you can't use Bitcoin with the mentioned platforms. You can use WBTC, but not bitcoin. You can also not use privacy-based coins like Monero. It's just Ethereum (or EVM) based tokens.

I'm pretty sure that whoever is interested in non KYC platforms and only wants to swap tokens, is already using the platforms you mentioned.

There are some no KYC exchanges are advertising here but with some restrictions from theymos related to rules applied in Mixers ban months ago.

Mixers to be banned. See definition of a mixer in the announcement.

It's because in cryptocurrency market, numbers of true decentralized exchanges are limited. You can have many Decentralized exchanges from Coinmarketcap or Coingecko but true DEX are less than what they list.

Find true DEX there https://kycnot.me/

Very shortly after bitcointalk banned advertising, promotional threads and linking to mixers, there appeared a plethora of no-KYC exchangers advertising at the same or similar rates of payment towards their members.

If there's so much demand for no-kyc exchanges then why don't we see any decentralized finance platform advertising here? Instead we only see some wholly centralized closed source sites doing so. In the meantime anyone could go to 1inch.io or openocean.finance and access in USD billions worth of liquidity across dozens of different blockchains with varying degrees of trustlessness and none of them requiring KYC to access all of their liquidity.

Centralized no KYC exchanges have 0 competitive advantage to decentralized platforms. In a way, we're already close to Satoshi's vision in that regard thanks to the solutions that are available, and yet here on bitcointalk advertising is dominated by centralized platforms. Kinda ironic. The only advantage I see to centralized no-KYC exchanges is that you're able to deposit BTC on-chain and withdraw on the same chain simply with the funds coming from another address. If the goal was to exchange funds from one crypto to another then there would be absolutely no reason to use a centralized clearing house. But that's clearly not it.

While I personally have nothing against this type of promotion, it's quite obvious that this is a simple re-branding of the centralized mixer advertising campaigns. So it's not a question of if, but when will the feds start going after these types of websites too. Arresting their founders, seizing all user funds, pursuing aggressive extradition procedures, giving the administrators extremely long sentences by throwing the book towards them in court etc.

inb4 I want to clarify something:
I'm not making this thread to bash anyone. I respect that there's demand for these services so if they offer funds for promotion it's perfectly ethical in my book to promote them. After all it's not the act of transferring money that endangers lives. And nevertheless nearly all of the world's money laundering happens in USD, not BTC or crypto in general.
I just know that FEDs are ruthless and wanted to say what's on my mind. Maybe when the first no-KYC exchanger gets shutdown you'll remember me.