It’s still surprising how people don’t know what privacy means and why KYC is a violation of it.“If you have nothing to hide, you have nothing to fear.”OK, I get it. You’re a good guy. You never did anything wrong and you believe that everyone trying to protect his privacy must be doing something illegal. But let me tell you: if I wanted to ask for permission and to be verified each time I make a transaction, I’d be pushing credit cards and traditional financial services.Bitcoin and other cryptocurrencies give me freedom to transact what I want when I want. Can this technology be misused? Yes, totally. That doesn’t mean I should be punished. KYC and AML regulations are just the first movement from the governments and financial institutions to impose their power over Bitcoin.We should be completely rejecting these policies, not endorsing it or justifying their existence.Want me to prove my identity to open an account on this exchange? No, thanks. Want me to tell you where I live in order to buy this token? No, thank you. Want me to give you the possibility of stealing my funds if you happen to not like me for some reason? Go flick yourselves.Banks and financial institutions will try to seduce you to accept their control. If they don’t succeed, they will try to force you. But remember: in the big equation of Bitcoin they do not play any role. You are your bank. With Bitcoin, you are in control.
Submitted April 30, 2019 at 09:45AM
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