In the face of money can you still keep your privacy goals alive

[GEMIN_M4]

Let's talk about this today shall we?

The economy of my country is very very bad and the president is trying to still make the poor people start paying tax on their income, and the opposition party was clearly against it, presently we no more hear from them and later it was disclosed that they all got bribed by the president himself, although still all allegedly, but the silence of the opposition party making it look like it's true which makes me want to ask this question.

I have seen some posts about people trying as hard as possible to avoid KYC and go full Privacy as a Bitcoin investor or holders, my question is if we are all asked right now to pass through a centralised platform where KYC will be asked and in return you will be 0.5 BTC each what do you think will happen?

Will you still stand on that pure desire of yours about keeping your privacy to yourself and away from centralised authority? Remember, millions of people are still bleeding their hands working nonstop to reach 0.2BTC so that they can hold for long term and hopefully have a good future.

[Hatchy]

Fantasy!!!
Most Bitcoin investors today don't worry much about privacy. They are willing to complete KYC verification even for smaller amounts than you've suggested. Since the government began cracking down on decentralization, many popular crypto Dex exchanges have shifted to a fully centralized. Now, almost all of them require ID verification before you can use their services. Only a few platforms still allow you to trade without KYC, but very small number people know about them or even prioritize their online privacy. The focus has shifted from decentralization to following government regulations. To stay in business and avoid being shut down, most exchanges have been forced to adopt strict KYC rules.

[Cryptohygenic]

Will you still stand on that pure desire of yours about keeping your privacy to yourself and away from centralised authority? Remember, millions of people are still bleeding their hands working nonstop to reach 0.2BTC so that they can hold for long term and hopefully have a good future.

I don't know if you realize that most bitcoin inventors do pass through the Kyc to buy bitcoin except for those that earns it without buying with money.
I am also bringing it to your awareness that centralized exchanges are mostly easy ways for bitcoin users to trade their bitcoins which they also exposes their identities.
Already, most of us cares not about revealing of identity rather, we prioritize privacy on our seed phrases and self custodial.
We also have accounts in the banks with a full revealing of your identity both by document and physical. So what are we there to fear in such offer as described Op? I equally don't find this a big deal in as much I am clean with no evil doing attached that will be implicating.
So if your government will have such proposal, be sure that bitcoineers will humbly embrace it as empowerments to acquire bitcoin. Behold I will be number one of accept the offer.

[Hatchy]

I equally don't find this a big deal in as much I am clean with no evil doing attached that will be implicating.
So if your government will have such proposal, be sure that bitcoineers will humbly embrace it as empowerments to acquire bitcoin. Behold I will be number one of accept the offer.

Lol, so what you are trying to imply here is that people who protect their privacy and avoid kyc has something under the rug or are some kind of criminals? You speak for yourself and not all bitcoiners. Im aware of some people who has avoided every means where they have to give out their personal data just to be registered on any platform.. it's not easy for them but it's something worthwhile. That doesn't mean they are some kind of criminals or hiding something..

Ps, I just saw a thread now where someone offered to pay others for their kyc verification, I don't know if that's where op is drawing his fantasy from?? https://bitcointalk.org/index.php?topic=5569178.0.. if yes, then you should know that such offers would put you in danger. Scammers would buy your kyc at a cheap price and use it to carry out their illegal acts and when it's being traced, it will be linked back to you who knows nothing.. avoid selling your kyc at all cost..

[Bluedrem]

Bitcoin is a symbol of financial freedom, a language of protest and the ability to say no. Your question actually hits the very core of Bitcoin's morality and allure.
Since everyone is being tempted to give Bitcoin through KYC, there must be some other reason hidden behind it.
If I go through a centralized platform and verify my KYC with my information, they might initially give me 0.5 Bitcoin but later the government might tell me-
Accept taxes, otherwise freeze
Accept censorship, otherwise blacklist
Political pressure etc. etc.

Which I don't expect at all, in that case, even if the Bitcoins I get after going through KYC can initially change our lives, we may not get the kind of life-changing experience we were hoping for with Bitcoin.
In that case, most people's answer would be that they would not accept Bitcoin after going through KYC.
But if KYC means only the restriction on disclosing personal information and there is no other obligation behind it, then people will be willing to go beyond KOIC and accept 0.5 Bitcoin to change their lives because it seems to me that this is enough to change a person's life.

[Satofan44]

I have seen some posts about people trying as hard as possible to avoid KYC and go full Privacy as a Bitcoin investor or holders, my question is if we are all asked right now to pass through a centralised platform where KYC will be asked and in return you will be 0.5 BTC each what do you think will happen?

This is not how you sell Bitcoin if you want to avoid KYC, therefore the question itself is wrong and makes no sense. Unless the question is whether people will sell their KYC for 0.5 BTC which is almost $50k, then it is equally ridiculous. Nobody is going to offer you that. Most people these days sell their KYC for less than $200. 

Will you still stand on that pure desire of yours about keeping your privacy to yourself and away from centralised authority? Remember, millions of people are still bleeding their hands working nonstop to reach 0.2BTC so that they can hold for long term and hopefully have a good future.

Yes. I never completed any KYC anywhere and I never will. Even if it ends up costing me extra money, I don't mind. Pathetic are the common folk, for they value a few dollars more than their freedom and privacy.

Fantasy!!!
Most Bitcoin investors today don't worry much about privacy.

It is not a fantasy. If most people are stupid, that doesn't mean that you have to be stupid too.   There is no valid excuse for the topic of privacy.

I equally don't find this a big deal in as much I am clean with no evil doing attached that will be implicating.
So if your government will have such proposal, be sure that bitcoineers will humbly embrace it as empowerments to acquire bitcoin. Behold I will be number one of accept the offer.

Lol, so what you are trying to imply here is that people who protect their privacy and avoid kyc has something under the rug or are some kind of criminals? You speak for yourself and not all bitcoiners. Im aware of some people who has avoided every means where they have to give out their personal data just to be registered on any platform.. it's not easy for them but it's something worthwhile. That doesn't mean they are some kind of criminals or hiding something..

He's an idiot, those idiots that would sell their own family members to the government if the government explained nicely why they should do that. They willingly sacrifice their own rights because of their stupidity or complacency, and then when the consequences come back to haunt them then they whine and complain in public.  

Ps, I just saw a thread now where someone offered to pay others for their kyc verification, I don't know if that's where op is drawing his fantasy from?? https://bitcointalk.org/index.php?topic=5569178.0.. if yes, then you should know that such offers would put you in danger. Scammers would buy your kyc at a cheap price and use it to carry out their illegal acts and when it's being traced, it will be linked back to you who knows nothing.. avoid selling your kyc at all cost..

The KYC industry is huge, neither you nor the users of this forum have no idea what you are talking about. There are groups scattered everywhere on the internet and have their own reputation systems similar to the one found in this forum. The reason that the market is so huge is primarily because the laws are idiotic and do not accomplish anything. Of course dealing with such things is not recommended legally or otherwise, and neither should this forum every allow such a thing because it will bring the force of the government upon it. However, that does not change the fact that you guys are talking nonsense about it. One part of my job is observing activities in different corners of the internet and writing reports, that's why I have plenty of time to multitask. Maybe that is why I am also here, who knows.  

[Iranus]

I have seen some posts about people trying as hard as possible to avoid KYC and go full Privacy as a Bitcoin investor or holders, my question is if we are all asked right now to pass through a centralised platform where KYC will be asked and in return you will be 0.5 BTC each what do you think will happen?
Will you still stand on that pure desire of yours about keeping your privacy to yourself and away from centralised authority?

Due to financial hardship people are often willing to give up their privacy. But imo  that can never be a proper trade off. Because today you have one Bitcoin and you are its owner. But if tomorrow you have ten Bitcoins and the control of those Bitcoins is in someone elses hands then are those ten Bitcoins truly yours?

If a centralized platform asks for KYC and is willing to give you 0.5 Bitcoin in return it means they are buying your privacy for a nominal price. Because once your information goes to the government or a large company you no longer have a private wallet. At any time your funds can be frozen or a large amount of tax can be imposed and you will be powerless to do anything about it. And it is important to remember that governments in various countries have snatched away peoples privacy in exactly this way by luring them with such offers

[Odusko]

0.5BTC = $45,000 at $88, 000 per BTC or More depending on the price of Bitcoin at the point of calculating, who the hell is going to test your privacy capacity with such a life changing amount of money in Bitcoin as airdrop, to be frank with you, the government can never do that, they lack the funding to do so, and anyone that promises you such an amount is probably trying to scam you in the end.

[betswift]

Nobody would give you such amounts just for the KYC alone, it's a dream that will never come true.

[FirmWars]

my question is if we are all asked right now to pass through a centralised platform where KYC will be asked and in return you will be 0.5 BTC each what do you think will happen?

This is just like asking someone that is very hungry if they can compromise and eat a particular food that they don't eat, in such a situation the person will definitely eat the food because they are very hungry. Another scenario is a movie, on the movie, a girl visited a rich home and she was invited to the dinning to eat with the rich family but the food they had on the table is something she doesn't eat, when the rich man realized it, he placed a bet on the girl telling her that if she eats the food that he will give her $5k, she refused to eat and the man doubled the money and yet she still refuses to eat the food but at every of her refusal, the man kept increasing the money until the money was very irresistible by the girl and she ended up to eat the food.

Why am telling you these scenarios is because, in the face of poverty dealing with so many people in the country, they won't reject this kind of offer because it is too good for them to reject, imagine being offered the money that you can not easily get in 5 years? Definitely many would take it.

[alastantiger]

Will you still stand on that pure desire of yours about keeping your privacy to yourself and away from centralised authority? Remember, millions of people are still bleeding their hands working nonstop to reach 0.2BTC so that they can hold for long term and hopefully have a good future.

On paper staying completely private and avoiding centralized control is the ideal for many Bitcoin holders. But 0.5 BTC is a serious amount, for most people it can be life changing. I think a lot of people would probably take it and that doesn't automatically make them bad or hypocritical. It just human nature to weigh opportunity against principle. Some might take it once and still value privacy in general while others would see it as crossing the line. It can be different for everyone.

[finaleshot2016]

The obv answer is, people will prioritize privacy but when in reality, some people will definitely take it since 0.5 BTC could change lives especially those who struggles financially. I know for a fact that majority of people will take it, it's free money, look what happened to the Pi craze, they even believed the mining system on "phones" just for free money so what more can they do if the reward is 0.5 BTC. Some people are getting scammed today so no wonder they'll still accept money even the consequences are privacy.

This is the reality. Your principle, priorities privacy but in reality, when things get hard, you will definitely sell it.

[m2017]

I have seen some posts about people trying as hard as possible to avoid KYC and go full Privacy as a Bitcoin investor or holders, my question is if we are all asked right now to pass through a centralised platform where KYC will be asked and in return you will be 0.5 BTC each what do you think will happen?

You know how to ask funny questions. Because right now, a lot of people agree to KYC without any compensation in return.

0.5 BTC each? Any exchange would go broke on that. That's pure fantasy and will never be realized, as the exchanges have neither the need nor the resources.

Will you still stand on that pure desire of yours about keeping your privacy to yourself and away from centralised authority? Remember, millions of people are still bleeding their hands working nonstop to reach 0.2BTC so that they can hold for long term and hopefully have a good future.

My desire to maintain confidentiality is my legal right, which can't be sold at any price. Even from a pragmatic standpoint, receiving a certain payment for KYC verification may eventually prove unprofitable, rather than a quick way to make easy money. This means your expenses, for example, in the form of taxes on your bitcoin income, will be greater than these KYC payments.

[nemesis_incarnate]

pure fantasy is the right way to put it xd, no exchange in the world is going to drop billions of dollars just to get some kyc data they can already buy from leaked databases for pennies, but the deeper question about whether your privacy has a price is interesting, everyone has a price even if they dont want to admit it but usually that price is much higher than what a centralized platform would offer, and like m2017 said the taxes and the loss of future privacy could end up costing you way more in the long run than any quick payment you get today

Agreed.

Better to have fewer funds and coins, but those would be truly yours, without such risks..

[Sammye3]

It's unrealistic to be paid 0.5 BTC for KYC verification when most people do this for free. To some extent, KYC verification make fiat transactions easier and a secure peer to peer system by strict verification.

The risk of KYC cannot also be neglected, with the breach of transaction history by third parties using addresses, and the fear of exchange being hacked as this could lead to leaking personal information of users such as Id, passport and the likes.

But in the midst of all this risk, it's still very much advisable to carry out 2fa and other security measures to secure your assets, though it might not be a permanent solution but it's better than nothing. As much as people loves privacy, most people would not turn a blind eye to such amount and would sell out their privacy without a second thought.

[Satofan44]

Due to financial hardship people are often willing to give up their privacy. But imo  that can never be a proper trade off. Because today you have one Bitcoin and you are its owner. But if tomorrow you have ten Bitcoins and the control of those Bitcoins is in someone elses hands then are those ten Bitcoins truly yours?

What the fuck are you talking about? Did you have a brain seizure? How does somebody suddenly take control of your ten Bitcoin?   That literally has nothing to do with KYC and submitting KYC for someone else or the hypothetical scenario here.

Because once your information goes to the government or a large company you no longer have a private wallet.

This is not true, don't write misinformation here.

At any time your funds can be frozen or a large amount of tax can be imposed and you will be powerless to do anything about it.

Bitcoin in your wallet can not be frozen, this is not a shitcoin. Do not write lies here.

0.5BTC = $45,000 at $88, 000 per BTC or More depending on the price of Bitcoin at the point of calculating, who the hell is going to test your privacy capacity with such a life changing amount of money in Bitcoin as airdrop, to be frank with you, the government can never do that, they lack the funding to do so, and anyone that promises you such an amount is probably trying to scam you in the end.

Hypothetical scenario, aside from commenting on its likeliness don't be an idiot and get into the details of why it can't be.

Nobody would give you such amounts just for the KYC alone, it's a dream that will never come true.

Again, it is a made up scenario. The supply of KYC data is huge and the demand is not that large, because of that the price for such a thing will never reach anywhere close to the amount proposed here. However OP is not asking whether it is realistic that one day people would get offered $50k for their KYC. The question is whether they would trade their data for this amount of money.

pure fantasy is the right way to put it xd, no exchange in the world is going to drop billions of dollars just to get some kyc data they can already buy from leaked databases for pennies,

Did you know that people who have a severely deficient IQ are unable to handle hypothetical scenarios in their mind? Look it up, they don't have the capacity to think in abstract ways and made up scenarios. It seems that you are an example of such retarded people.

This is just like asking someone that is very hungry if they can compromise and eat a particular food that they don't eat, in such a situation the person will definitely eat the food because they are very hungry. Another scenario is a movie, on the movie, a girl visited a rich home and she was invited to the dinning to eat with the rich family but the food they had on the table is something she doesn't eat, when the rich man realized it, he placed a bet on the girl telling her that if she eats the food that he will give her $5k, she refused to eat and the man doubled the money and yet she still refuses to eat the food but at every of her refusal, the man kept increasing the money until the money was very irresistible by the girl and she ended up to eat the food.

Don't justify stupidity, greed and other malicious actions with hunger. Those that are good people will remain good and starve to death before they commit evil actions. Most of these people are not good or developed people, it has nothing to do with hunger.

[Cookdata]

I have seen some posts about people trying as hard as possible to avoid KYC and go full Privacy as a Bitcoin investor or holders, my question is if we are all asked right now to pass through a centralised platform where KYC will be asked and in return you will be 0.5 BTC each what do you think will happen?

Will you still stand on that pure desire of yours about keeping your privacy to yourself and away from centralised authority? Remember, millions of people are still bleeding their hands working nonstop to reach 0.2BTC so that they can hold for long term and hopefully have a good future.

If a platform is giving something for free, just know that you are the price, an exchange want to give you 0.5Btc which is worth $45k to do Kyc? Is it that important for exchange to give out that money? I want you to know something. If an exchange is going to spend 0.5Btc to get your identity, know that you are worth 50 Btc, the ideology doesn't make any sense.

For an exchange to give that amount if money to get your identity, that means you must have laundered millions of dollars with a fake identity and now they want your full identity. Even if a fool is offer that amount of money for Kyc, he will think twice before accepting that decision of Kyc.

I don't know if you realize that most bitcoin inventors do pass through the Kyc to buy bitcoin except for those that earns it without buying with money.
I am also bringing it to your awareness that centralized exchanges are mostly easy ways for bitcoin users to trade their bitcoins which they also exposes their identities.
Already, most of us cares not about revealing of identity rather, we prioritize privacy on our seed phrases and self custodial.

Centralized exchanges are not the easy way, we have decentralize exchanges that are easy. The cex are more regulatory compliance to government which is why you see them everywhere operating without big challenges. If the government allow decentralize exchanges I believe we will have more of them but the AML became a trend for cex and the cracked down of decentralize made them not popula. I remember even Binance use was against Kyc back then until the story changes later.

[Distinctin]

Even if all investors want to avoid KYC, but KYC is no longer a voluntary one but a mandatory for everyone. So there's no way we can avoid this but to just accept the fact that KYC is already part of the norm. If you want to trade or even gamble legally, KYC is there, especially if you are claiming your winning amount, no KYC, no release of funds.

KYC is no longer new, the people are slowly getting used to it. Anonymity is not highly valued anymore, but following the rules and regulations of the government so that you can still continue to invest, trade or gamble legally. Otherwise, the government will start eyeing on you and attack you inevitably.

[Antona]

For 0.5 BTC? Id have to pass thats not free money its a tracking device. Once your identity is tied to that UTXO every future transaction is watched it sets a precedent that they can buy our privacy id rather keep stacking privately, even if it's slower.

[PrivacyG]

I would argue the 0.5 Bitcoin for Know Your Customer is a way better deal than all these other people giving it away entirely for free.  It at least makes sense that people would give up their face scan and identity card for an amount that can change their life.

I can keep my Privacy goals alive in the face of Money.  I am spending more time of my life paying with Cash when I buy my groceries compared to others who pay with Card.  I used to get a way worse deal exchanging Bitcoin on platforms such as Bisq than I could have by creating a Know Your Customer Binance account.  I am losing out on many opportunities such as discounts on things others get a discount for by linking their customer account to their identity.  And so on.  On average, I am probably paying by up to 20 to 30 percent more than the rest of the people because I do not want to give up my identity.  The amount adds up very quickly once you do the math.

Others prefer convenience.  Most people do, I really wish it was the other way around.