Is Bitcoin private enough for freedom financially??

[mk4]

It depends and there is no universal answer for everyone.

For someone who has $1M in Real Estate and another $1M in index funds, I don't see what problem they are going to have buying a couple of Bitcoin on Coinbase fully KYC.

All of you who are obsessed with privacy, I imagine that you have a very important part of your net worth in non-kyc Bitcoin, passed through CM.

I obviously wasn't even referring to privacy in concern with KYC platforms(because some people simply don't care); I was referring to privacy in concern with $5 wrench attacks when sending coins to people using a single frequently-reused address(in which people should definitely care even if they currently don't).

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[WeThePe0ple]

= These exchanges become a choke hold for enforcing regulatory actions like OFAC sanctions and they are left with no choice but to oblige. To cite an instance, is the Tornado Cash mixer issue on Aug 8th. 2022.

When the EU imposed financial sanctions on Russia (SWIFT system exclusion) I was very curious to see what Russian crypto holders would do. Whether they would be able to bypass these sanctions or not. So I looked it up. The EU has approached Binance, asking them to ban all Russian account holders.

This is what happened.
https://www.binance.com/en/support/announcement/4887e569afdf4b1e89e024371d3a49b9

Changes of Services to Users in Russia
2022-04-21 08:30
Fellow Binancians,
Following the EU’s fifth package of restrictive measures against Russia, Binance is required to limit services for Russian nationals or natural persons residing in Russia, or legal entities established in Russia, that have crypto assets exceeding the value of 10,000 EUR. As such, we require you to complete your proof-of-address verification.
Accounts that classify under this restriction will be put into withdrawal-only mode. No deposits or trading will be permitted on these accounts. The limit also covers all spot, futures, custody wallets, and staked and earned deposits. In addition, all deposits to accounts for Russian nationals or natural persons residing in Russia, or legal entities established in Russia with over 10,000 EUR will be restricted.

So no, it is not safe and private. If they can do it to the Russians, they can do it to all of us.

[Laurendaldin]

You are right, but people have more followed centralized exchangee. There are decentralized ones like Bisq which is better, but people prefer going the other side. This makes me not to be surprised anymore when people are falling victims of scammers that want to pay 10x or more profit within just a month and they fall for it.

Probably it seems to people that it is safer to trust a more centralized exchanger. If you don't know the topic very well and don't go into details, it looks like this.