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Economists at the Bank of International Settlements just proposed that *any coin* that has *ever* passed through a no-KYC wallet should be banned from regulated services. The economists argue that their approach would enable a culture of self-policing, or β€œduty of care,” in which even users of non-custodial wallets would not accept no-KYC coins, report illicit activity, and engage in voluntary KYC. image View quoted note β†’

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SHOULD HAVE USED MONERO! #bitcoin #monero #SHUM
L0la L33tz's avatar L0la L33tz
Economists at the Bank of International Settlements just proposed that *any coin* that has *ever* passed through a no-KYC wallet should be banned from regulated services. The economists argue that their approach would enable a culture of self-policing, or β€œduty of care,” in which even users of non-custodial wallets would not accept no-KYC coins, report illicit activity, and engage in voluntary KYC. image View quoted note β†’
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Shocking, I tell you. #monero fixes this. Are you beginning to see the problem with having normalized transparency yet?
L0la L33tz's avatar L0la L33tz
Economists at the Bank of International Settlements just proposed that *any coin* that has *ever* passed through a no-KYC wallet should be banned from regulated services. The economists argue that their approach would enable a culture of self-policing, or β€œduty of care,” in which even users of non-custodial wallets would not accept no-KYC coins, report illicit activity, and engage in voluntary KYC. image View quoted note β†’
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E lΓ‘ vamos nΓ³s
L0la L33tz's avatar L0la L33tz
Economists at the Bank of International Settlements just proposed that *any coin* that has *ever* passed through a no-KYC wallet should be banned from regulated services. The economists argue that their approach would enable a culture of self-policing, or β€œduty of care,” in which even users of non-custodial wallets would not accept no-KYC coins, report illicit activity, and engage in voluntary KYC. image View quoted note β†’
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This is how the game theory plays out, from their perspective and what they are attempting to prep everyone for. They propose this measure that is light touch and self policing model. Knowing full well it will be laughed at and scorned. There will know doubt be another 3 or 4 proposals in the works some getting progressively authoritarian and the final will be obscenely over reaching. In fact they had they floated this out before with outright bans and outlawing. But the goals of all these papers really is to put some form of justification in peoples minds that the BIS has an actual role to play. They are attempting to normalise their very existence in this arena.
I never understood KYC.. especially when it is pushed by the very same criminals that run free in the world. Bis being an organized thieft institution pushing for KYC to protect the criminals from what? The perversion is blood boiling.
L0la L33tz's avatar L0la L33tz
Economists at the Bank of International Settlements just proposed that *any coin* that has *ever* passed through a no-KYC wallet should be banned from regulated services. The economists argue that their approach would enable a culture of self-policing, or β€œduty of care,” in which even users of non-custodial wallets would not accept no-KYC coins, report illicit activity, and engage in voluntary KYC. image View quoted note β†’
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Not surprising. Atlas Shrugged happening live. There will be two worlds: the free, β€œdangerous” world of the underdogs who chose to live outside the system, and the captured, β€œsafe” world of the compliant servants of central planning
Since the majority of bitcoin exists in self-custody wallets, the BIS is proposing that the majority of bitcoin should be considered "bad" bitcoin. Why stop at bitcoin? They should be able to say which cars, houses, pieces of art, or gold coins are "bad" too! To them, value isn't subjective and determined my market participants...it's whatever the hell they say it is.
L0la L33tz's avatar L0la L33tz
Economists at the Bank of International Settlements just proposed that *any coin* that has *ever* passed through a no-KYC wallet should be banned from regulated services. The economists argue that their approach would enable a culture of self-policing, or β€œduty of care,” in which even users of non-custodial wallets would not accept no-KYC coins, report illicit activity, and engage in voluntary KYC. image View quoted note β†’
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#PSA Intellectually disabled & pathologically predatory individuals with Neurodevelopmental Entitlement Disorder will seek to seize & control what/when & wherever possible to facilitate nefarious fuckery. They lack critical neurobiology & intelligence required for finding other options that could serve the interests of anyone outside of themselves. 🌻 Example:
L0la L33tz's avatar L0la L33tz
Economists at the Bank of International Settlements just proposed that *any coin* that has *ever* passed through a no-KYC wallet should be banned from regulated services. The economists argue that their approach would enable a culture of self-policing, or β€œduty of care,” in which even users of non-custodial wallets would not accept no-KYC coins, report illicit activity, and engage in voluntary KYC. image View quoted note β†’
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I will stick to my dirty money and dirty social protocol, thanks anyway.
L0la L33tz's avatar L0la L33tz
Economists at the Bank of International Settlements just proposed that *any coin* that has *ever* passed through a no-KYC wallet should be banned from regulated services. The economists argue that their approach would enable a culture of self-policing, or β€œduty of care,” in which even users of non-custodial wallets would not accept no-KYC coins, report illicit activity, and engage in voluntary KYC. image View quoted note β†’
View quoted note →
TradFi and its watchdogs are building a beautiful, regulated cage for a beast that has no physical form. And they will ultimately end up by paying for the privilege. #bitcoin
L0la L33tz's avatar L0la L33tz
Economists at the Bank of International Settlements just proposed that *any coin* that has *ever* passed through a no-KYC wallet should be banned from regulated services. The economists argue that their approach would enable a culture of self-policing, or β€œduty of care,” in which even users of non-custodial wallets would not accept no-KYC coins, report illicit activity, and engage in voluntary KYC. image View quoted note β†’
View quoted note →