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Why I HATE KYC, (#2) And Why You Should Too...

By CodyMac50 | MyCripticLife | 19 Nov 2021


I want to be clear about KYC. Everyone already knows that to open a bank account, you need to provide proof of identity. we have been doing this for as long as the banking system has been around. But crypto is not that old, corrupt, elite system.

In a post several months ago, I wrote about how KYC Ruins Everything... The point I was making is that it goes against everything Nakamoto was building. A decentralized peer to peer payment system that is ANONYMOUS... 

That is the important part. The ledger itself is transparent, because transactions can bee seen in real time and anyone can see how much bitcoin went from one address, to another. But the important thing here, is that the individual is not known, (unless you actually know who owns a particular address) because the INDIVIDUAL IS THE BANK. 

That is a huge deal, folks, because I for one dont want everyone knowing anything about me unless I OFFER the information. KYC forces you to tell folks who you are and they know your address, and they see what you do with every click of a button.

We live in an age where the elites want to take personal things from us, and OWN NOTHING AND BE HAPPY. Im sorry, but KYC is part of being a slave. It is part of being used. How? Once they know who you are, they can find you on social media, and bombard you with ads made specifically targeting you.

This isnt some new thing, its been going on since Big Tech understood how to take your info and sell it to the highest bidder. Im sorry, but if I give my info willingly, knowing that you are going to sell it for a profit, and send me ads made from my browsing history, then I deserve what I get. But If I opt out, then that means I VALUE my privacy.

Some argued that KYC was a must for some things. I disagree. Because day in and day out, americans are having garage sales, and the people going to them pay with cash for the item they want, WITHOUT telling the owner who he/she is, and then walk away. Both parties are happy, because the seller got money for a used item, and the buyer got the item they wanted.

This is what Bitcoin is about. Not having to worry about informing someone about yourself just to get an item you want. 

Some will say, well there are sketchy people, and platforms, so we need to know who they are! Nope! Here again, just DYOR. Do Your Own Research. That is the best way to do business. Dont invest more than you can lose, and make sure you understand what you are getting into. It is very simple.

KYC is a mistake and folks need to STOP enforcing this. Bitcoin is a currency that was made for people who want to remain anonymous and want to live life without restrictions. 

Thanks for reading, and have a nice day...

Adieu! 

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CodyMac50
CodyMac50

I'm Cody and will post about anything christian, crypto, and sometimes crazy...


MyCripticLife
MyCripticLife

I was involved with crypto since 2012, but left after homelessness entered my life. Now I am back, (since July of last year) and ready to live this crypto life!

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