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RE: Did your BAT earnings from Brave just disappear? I have a guess as to what is going on...

in LeoFinance3 months ago

I'd prefer Brave die off rather than come here, it's incredibly centralised and it'd be better to have something more decentralised and without KYC replace it.

The entire point of cryptocurrency is to be free of BS from any government, and KYC definitely falls under being government BS.

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If you think cryptocurrency is going to survive and be "free of BS from any government" well, I think that is being naive. Governments have armies and jail while cryptocurrency has nerds with computers. Cryptocurrency can continue to move forward but I highly doubt it will be able to do so independent of governments.

So far technology has always won, China and Russia try to curtail the use of Tor yet people still get around the blocks and there's not much the governments can do about it. The new snowflake project will make it even more difficult for governments to block Tor.

All we would need is a cryptocurrency similar to Monero but built on top of the I2P network and we'd have something near impossible to block, at least not without killing the entire internet along with it. With that, we would need is at least one exchange operating somewhere in the world that would exchange that cryptocurrency for ones like Monero which can then be exchanged for fiat or physical goods.

You have to remember, most governments are run by a bunch of old people who have no clue how modern technology works. Sure, things may change in the next 40 years, though given the current state of the world, it looks like we're likely going to move towards having more directly democratic governments before then.

Government power is fairly limited in scope, technology is global.

Ideally sure. How many exchanges do you know of currently where you can get your fiat in or out without having to provide identification? The government has already clamped down on this to a large degree...

Only chance is if everything suddenly were to be priced in crypto. Even though, people would still need to get their fiat in...

The people over at KYC, Not Me! maintain an incomplete list of exchanges and services where no KYC is required, at least not for most transactions. If you know of any that aren't listed, you could let them know.

Decentralised exchanges like Bisq are likely your best option for exchanging fiat for crypto. I use Flyp.me for exchanging small amounts of crypto to other crypto, even though they may not have the best of exchange rates.

A good way to encourage crypto adoption would be to push businesses to start accepting asset-backed crypto like USD Coin or Paxos Standard. Once they have infrastructure in place to accept crypto it would become easier to convince them to start accepting more forms of crypto like Monero, Hive, etc.

Do you know of any exchange where you can get fiat in or out without providing identification? As far as I know this is where the government is mainly focused. The on/off ramps. If they control those they can police things to an extent.

If you're outside of the USA, there are several exchanges that do not require KYC for smaller amounts of money, typically under a few thousand euros worth. If you're in the USA you would have to use a decentralised exchange or have a trusted friend outside the USA who can purchase coins on your behalf.

Decentralised exchanges are peer to peer and some sellers may require ID while other do not, they've been slowly picking up in usage ever since governments started to clamp down on exchanges.