Hanshan on Nostr: this is why KYCed coins are shitcoins. they are not censorship resistant. good luck ...

this is why KYCed coins are shitcoins. they are not censorship resistant.
good luck telling the men with guns "that 2nd address wasn't mine!"

Monero fixes this (IF you don't buy kyc)

quoting
nevent1q…e5uy

Once you move your freshly self-custodied #bitcoin away from its first home outside of the exchange to the next wallet address, it is no longer KYC bitcoin. Sure it tracks back to you, but that new wallet address could belong to anyone. There is no way to prove that you control those sats anymore. The same is true if you trade bitcoin for Monero. The bitcoin will always trace back to you forever. The difference is that you don’t have any control over how your Monero trading buddy spends your previously KYC’d bitcoin. Why not just spend it yourself? Personally I think the KYC question is a type of FUD that will resolve itself over time. As people begin spending their bitcoin on goods & services.