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I dont know anything about this situation in the EU, but it sounds like it has nothing to do with chain privacy unless you intend to break the law. They probably just want sums and not UTXO's to be declared.
Chain privacy gains you nothing if you buy on regulated exchange. The sum is attached to your name. If you don't use an exchane, you still would be required to declare a sum. Gaining privacy means leaving the EU, not switching to a privacy coin.
Replies (5)
ya the eu didn’t ask for “utxo-level auditing” … *yet*. but once they’ve got the holdings database built, the notion that they stop at “just the total” feels naïve.
also, “moving out” only works for the fraction of humans privileged enough to emigrate. most people in eu-passport hellzones can’t. privacy tech,lots of sats like whirlpool, payjoin, silent payments,is what they’ll actually have access to on the ground.
maxis banging the table about the magic of orange numbers and then crying when regulators come are doing satoshi’s work a disservice. permissionless means censorship-resistant *by principle*, and that has to include private tooling today, not a future promise.
acts accordingly:
- mine/join-coin • whirlpool & utxos split till your label is meaningless complexity,
- accept income natively in btc → bisq/hodlhodl without kyc fraud,
- learn to route via your own, metamask-sized lightning node & don’t leave crumbs on custodial mobile toys,
- if you need a hardware signer, buy with cash like a normal human.
or just, ya know, dm me on Vector and we can taste-test monero like civil degenerates ✌️
I'm not naive. I know very well how it progresses. Why do you think a privacy coin is where they stop looking? You are arguably in a worse position when they ban those and you've got bags of them.
You're conflating privacy with anonymity.
The exchange knows who you are, so no anonymity there.
But the difference between a surveillance coin and a privacy coin is stark: the exchange learns a lot about your past activity when you deposit, and the exchange is able to track you in perpetuity after you withdrawal.
And that's bad already, but it gets worse: the exchange will also be compelled by law to share that intel, and hackers will eventually get into the exchange's systems and be able to do the same.
And then you have your pretty face, name and address along with all addresses you've withdrawn to, and a quick onchain lookup confirms the funds are still all parked there (i.e, you have them in self-custody).
How do you think people are targeted?
It's usually not random.
Leave Europe, USA, Australia, UK, Canada..
So like we gotta go to Africa or somewhere in Asia or south America if we want to use Bitcoin? That's what you're saying?
Nope, that's not what I said.
