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If you’ve ever asked « why should I spent my bitcoin when I can spend fiat (bad money) and stack sats (good money)? ». This is why 👇 P2P electronic cash only works as intended in a closed loop. Anytime you cross over to fiat, you are subject to the same control measures. Aka, you failed. 👉 KYC yourself 👉 Limited self-custody 👉 Tax on capital gains (in fiat terms) 👉 Limits on withdrawals and payments 👉 Flagged transactions 👉 Provide proof of income Even selling bitcoin p2p is already limited to small amounts to avoid being flagged by your bank. The key is bitcoin circular economies. #bitcoin #privacy #nokyc #bitcoincirculareconomy View quoted note →