How do you first become sovereign without having control of your money? How do you become ungovernable by relenting power over your money to the state? What do you do should you be banned from using the banking system? If you decide to opt out of the banking system, What options are available to you?
This is the first post in our series about getting access to non-kyc crypto, being able to spend in a circular economy as well as off-ramps back into a local currency. There is not a 100% circular economy right now, but you still have many ways to participate where possible, and when not possible, ways to get into other currencies.
You must first be able to access the ramps to obtain cryptocurrencies. After obtaining the bitcoin/monero privately, many more opportunities then become available to you.
The capture from the state is most easily executed at the choke points. This would be at the on and off ramps.
We focus only on no-kyc options because if there is an opportunity for a state agent or bad actor to learn information about you, to then seize funds, KYC puts a target on your back by willingly divulging this information. So we avoid KYC at all costs!
The asset you choose to use also plays a role in your online digital footprint. For the sake of this discussion, we focus on Bitcoin and Monero. Bitcoin for its large market share and philosophical origin, and Monero for its large market share and its inherent privacy.
Bitcoin’s privacy pitfalls should be addressed from a privacy-first no-kyc framework. This helps to mitigate some of the other privacy concerns of bitcoin’s design. If you start from a private origin point, bitcoin’s on-chain pseudonymity won’t leak any KYC identifying information(using your own node over TOR will help mitigate further privacy leaks). The identifying information comes from when you first enter the asset, and the platforms you use.
Where can you leak identifying information about your bitcoin/monero:
– On-ramp: Where you change your local currency into btc/xmr
– Platform/services used: Services where you decide to use your btc/xmr (Wherever you decide to spend btc/xmr, the platform will know information around the transaction, so if the service also knows identifying information about you, such as shipping name and address, this transaction can be linked)
– Off-ramp: where you change your btc/xmr into your local currency
You should build an abundant amount of options for each of these three options (on-ramps, services, off-ramp). The more options you have available to you, the easier/cheaper it’ll be for you if you are forced to operate solely in this sovereign manner (outside the normal centralized banking system)
In the next post, we’ll break down different options available to access bitcoin/monero via no-kyc routes and discuss the trade-offs of these different platforms.
This post originally appeared on The Sovrn Bitcoiner (TSB)