Millennials and gen-x get vitimized via digital fraud a lot as they tend to trust the tech and don't realize what a weasly scammer can do with it. Older people don't wantt the full connivence of being fully synched up as they fear getting ripped off by it.
KYC is needed for large money movers not little numbers. But most of the world governments are still trying to make the world into 2 groups the have and the have nots. KYC for any amount under 1000 usd is truly wrong
I would argue it is wrong for any amount under 100,000 usd value. At certain wealth numbers it can be argued for since it would not create the demand for stolen info that 1000 or 500 limit does.
Some where I posted a list of btc addresses by value. I will look for it. Found it and you can see setting the kyc at 100,000 usd means under 170,000 people need give kyc for all of bitcoin but setting kyc at 1,000 means over 3,300,000 would need kyc
So having that low level kyc threshold creates a lot of kyc info in a lot of places only making more victims and more demand and more law enforcement.
I thought about it before but you would rather use a coinmixer because;
1. You will end up spending a lot in fees when doing an atomic swap. So carrying out 2 atomic swaps means losing more coins in fees not forgetting the exchange rates that are always set so that the DEXes can make some profit out of your trades.
2. Not convenient; Most atomic swaps have maximum limits for coins you want to exchange so imagine if someone wants to convert 20 BTC and the atomic swap has a limit of only 2 BTC per trade. Some even start asking for KYC (read changelly)
Verdict: Coin mixers are a cheaper option, much more convenient to use
1. You will end up spending a lot in fees when doing an atomic swap. So carrying out 2 atomic swaps means losing more coins in fees not forgetting the exchange rates that are always set so that the DEXes can make some profit out of your trades.
2. Not convenient; Most atomic swaps have maximum limits for coins you want to exchange so imagine if someone wants to convert 20 BTC and the atomic swap has a limit of only 2 BTC per trade. Some even start asking for KYC (read changelly)
Verdict: Coin mixers are a cheaper option, much more convenient to use
Coin mining works pretty well to stay anonymous.
In Fact you can turn a profit doing it.
BTW being anonymous paints a target on the anonymous address.
https://bitcoinist.com/bitcoin-addresses-732000-1-btc/
don't you think this info above is looked into by governments
certainly the info below in the 10 btc and above category is listed
Quote
https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html
Bitcoin Rich List
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Bitcoin distribution
Balance, BTC Addresses % Addresses (Total) Coins $USD % Coins (Total)
(0 - 0.001) 14109754 48.72% (100%) 2,894 BTC 28,479,632 USD 0.02% (100%)
[0.001 - 0.01) 7032245 24.28% (51.28%) 28,110 BTC 276,636,215 USD 0.15% (99.98%)
[0.01 - 0.1) 4978235 17.19% (26.99%) 160,258 BTC 1,577,131,784 USD 0.88% (99.83%)
[0.1 - 1) 2052612 7.09% (9.8%) 655,373 BTC 6,449,645,276 USD 3.6% (98.95%)
[1 - 10) 631693 2.18% (2.71%) 1,671,480 BTC 16,449,348,079 USD 9.18% (95.35%)
[10 - 100) 137934 0.48% (0.53%) 4,447,159 BTC 43,765,335,409 USD 24.43% (86.17%)
[100 - 1,000) 14091 0.05% (0.06%) 3,575,309 BTC 35,185,296,894 USD 19.64% (61.74%)
[1,000 - 10,000) 2056 0.01% (0.01%) 4,863,288 BTC 47,860,544,488 USD 26.72% (42.1%)
[10,000 - 100,000) 103 0% (0%) 2,249,811 BTC 22,140,820,546 USD 12.36% (15.38%)
[100,000 - 1,000,000) 3 0% (0%) 549,861 BTC 5,411,290,435 USD 3.02% (3.02%)
Addresses richer than
1 USD..............100 USD....... 1,000 USD..............10,000 USD..............100,000 USD...........1,000,000 USD........10,000,000 USD
21,248,660 7,237,023...... 2,710,158...............673,101...................140,753..................13,916...................1,632
Bitcoin Rich List
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Bitcoin distribution
Balance, BTC Addresses % Addresses (Total) Coins $USD % Coins (Total)
(0 - 0.001) 14109754 48.72% (100%) 2,894 BTC 28,479,632 USD 0.02% (100%)
[0.001 - 0.01) 7032245 24.28% (51.28%) 28,110 BTC 276,636,215 USD 0.15% (99.98%)
[0.01 - 0.1) 4978235 17.19% (26.99%) 160,258 BTC 1,577,131,784 USD 0.88% (99.83%)
[0.1 - 1) 2052612 7.09% (9.8%) 655,373 BTC 6,449,645,276 USD 3.6% (98.95%)
[1 - 10) 631693 2.18% (2.71%) 1,671,480 BTC 16,449,348,079 USD 9.18% (95.35%)
[10 - 100) 137934 0.48% (0.53%) 4,447,159 BTC 43,765,335,409 USD 24.43% (86.17%)
[100 - 1,000) 14091 0.05% (0.06%) 3,575,309 BTC 35,185,296,894 USD 19.64% (61.74%)
[1,000 - 10,000) 2056 0.01% (0.01%) 4,863,288 BTC 47,860,544,488 USD 26.72% (42.1%)
[10,000 - 100,000) 103 0% (0%) 2,249,811 BTC 22,140,820,546 USD 12.36% (15.38%)
[100,000 - 1,000,000) 3 0% (0%) 549,861 BTC 5,411,290,435 USD 3.02% (3.02%)
Addresses richer than
1 USD..............100 USD....... 1,000 USD..............10,000 USD..............100,000 USD...........1,000,000 USD........10,000,000 USD
21,248,660 7,237,023...... 2,710,158...............673,101...................140,753..................13,916...................1,632
by dollar value there are 155,000 addresses over 100,000usd about the same as over 10btc since a coin is now around 9800 don't you think that list is given to irs etc especially if they find ones they don't know the owner to.
So the whole idea of anonymous is kind of dead here. What do you want to do the op idea or coinmixer if they result in a newly minted unidentifiable address most governments will say cost basis is zero and the day the new address is made is your profit.
Ie a make a 10 coin address today with any method USA will say it is worth 98000 and since it can't be identified as of today I should report it as 98000 profit for 2020 taxes.
If I don't and I hodl it to 2025 finally cashing it in lets pretend it is worth 200,000
I will have tax penalties since I did not report the 98,000 in 2020. So if I want to hide coins I need to have a country to live in that does not tax coins.
But if I have a country to live in that does not tax my coins why hide them. Since they are not subject to tax I can show them in an unhidden address.
So effectively you have hidden money with a target painted on it.
