{"type":"rich","version":"1.0","title":"hugomofn wrote","author_name":"hugomofn (npub1qp…6yn58)","author_url":"https://yabu.me/npub1qp302p7ry80x8xpcafm4d4szpxvzy8r70lyveg39gk0xgycwu35s06yn58","provider_name":"njump","provider_url":"https://yabu.me","html":"I don’t think people fully grok the risk of KYC in Bitcoin.\n\nKYC honeypots \u0026 data leaks are already dangerous in the analog world. But zoom out and fast-forward 20 years into a hyper-digitized, hyper-bitcoinized future, and that risk 10x’s.\n\nIn the analog, pre-hyperbitcoinized world, if someone gets your family’s name, SSN, and address, what’s the worst the can happen?\n\nMaybe they impersonate you. Maybe they sell your data to ad companies.\n\nIt’s bad, but not end-of-the-world bad.\n\nBut with Bitcoin — a digital bearer asset — it’s different.\n\nOnce someone knows your family holds a large stack, you’re a forever target.\n\nYou don’t get spammed. You get hunted.\nBy North Korean hacker teams and ransomware crews from every corner of the world. Forever.\n\nYou do not want a target on your family’s back for eternity.\n\nZoom out \u0026 think long-term. KYC isn’t just a risk. It’s a ticking time bomb.\n\nP.S. Some historical context: KYC was invented before the Internet.\n\nNot only has it failed its objectives, its creators NEVER anticipated a world shaped by the Internet \u0026 Bitcoin.\n\nThe ramifications of this outdated policy will be insane in the years to come. A lot of people will get hurt.\n\nnostr:note1g2rhxjnygvtaa8g2j5acl85akuscyk9lc6gqcq7fwzv77rst5mjqs52y54"}