I'm debating if I should buy kyc or non-kyc.
Kyc Pros:
- Ease of use
- Low fees
Kyc Cons:
- Doxxing my stash to exchanges, govs, and third parties (chain analysis firms)
- High hypothetical risks later (gov crackdown)
- Taxes
Non-kyc Pros:
- Privacy
- Safety in the event of a worst-case scenario (gov attack)
- No taxes
Non-kyc Cons:
- High fees & privacy premium
- Hassle to use
Non-kyc seems like a lot of trouble on top of a premium that's only rewarded in a worst-case scenario. However, if the gov attacks Bitcoin, it's the superior option. Also, I have no problem paying taxes. I'm simply saying high taxes are a potential attack vector. Ultimately, I feel like I'm betting on if the future will be hostile or friendly to Bitcoin. If friendly: kyc. If hostile: non-kyc.
Alternatively, I'm thinking of buying kyc and if anything bad happens, switch to non-kyc (2 separate stashes). Thoughts? My plan is to treat Bitcoin like a savings account. Hodl and that's it. I'll probably never use or move my coins for 10+ years.
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