Economists at the Bank of International Settlements just proposed that *any coin* that has *ever* passed through a no-KYC wallet should be banned from regulated services. The economists argue that their approach would enable a culture of self-policing, or “duty of care,” in which even users of non-custodial wallets would not accept no-KYC coins, report illicit activity, and engage in voluntary KYC. View quoted note →

Bitcoin is the bank of international settlement. Find a new job.

Making it harder to get their hands on those last few bitcoin, just about the point that they'll be scrambling to acquire them, at around $100,000,000 per coin.

Bifurcation intensifies. View quoted note →

Good luck.

I'm sorry, I don't accept Bitcoin. I only accept Monero.

they don't like monero because it doesn't fit the mold for this strategy

The regulated services will just be shutting themselves out of the economy at that point.

This “culture of self policing” reminds me when Larry Fink said his aim is to force behaviors on society

Another reason not to use regulated services.

Wonder if zelenskys laundered American and European taxpayer money is KYC 🤔

A wunch of bankers

I guess that is an improvement from their previous positions of wanting to outright ban all cryptocurrency.

DoD and Defence Contractors offer the best money laundering services in the world, much better than any other criminal enterprises have access to.

Excellent payment rails. I wonder if their transactions costs are as high as my 45 buck today to get some fiat shite in to my account in Costa Rica. Obviously had to be a low ish amount too as I have restrictions but then I have to earn it rather than print it. What a wonderful system. I love it personally

And now he's the new WEF boss

Personally, I think things like this will help accelerate peer-to-peer payments even further, so I feel like if someone wants to try it, they should just go for it. If it were something that could simply be blocked because someone didn't like it, I wouldn't have supported Bitcoin in the first place.

I watched a video fom #BitcoinHotel in german about this already. so strange but they want to contol everything #freedom #bitcoin

And we don't give a single, solitary fuck. 🤷‍♂️ We don't need anyone's permission to use #Bitcoin / #BTC. 🤙

Self-KYC for non-custodial wallets – as if money suddenly needs a passport. They still don’t get it: Bitcoin won’t be traded against fiat in the future. It’s already money and will serve as the most trusted payment rail of the coming decades. Luckily, KYC fantasies are biodegradable. #Bitcoin #BTC #FreedomMoney View quoted note →

Filter men… View quoted note →

Nobody likes monero becuase a 300m market cap Qbuic coin can topple a 6b market cap coin lolz. RIP monero.

I have no allegiances and this is bitcoin maxi slop. monero is still here working and will continue to be.

A portfolio without diversification is ignorance at its finest. But multiple double spends and 60 orphaned blocks says otherwise. It's okay we'll be saying RIP to doge next.

there have been no double spends and the orphaned blocks are irrelevant to anyone using the network. you sound like you just came from wallstreetbets

This one's my favorite, enjoy your day!!

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Double spends? So you've resorted to just making shit up now? Lmao. ~1% of blocks were orphaned during the entire attack. You're retarded. https://xcancel.com/JohnnyLaw2021/status/1956126414937448808

This is only a threat because the FIAT system, which at this point is very blatantly a single system, not decentralised by banks, nor by countries, has a disproportionate adoption compared to Bitcoin. Bitcoin will win and the threats will be neutralised.

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U have no power in here ...

I can't believe the article never mentions who the authors are. It just calls them "the economists" over and over. Here are the authors: Iñaki Aldasoro, Jon Frost, Sang Hyuk Lim, Fernando Perez-Cruz and Hyun Song Shin.

They are scared. Dont compl. I push P2P tech even harder when I see this kinda shit

SUCK MY DICK

Top comment, "Ur downplaying the whole thing. It is misleading. Can u share a verifiable info about how many times there was a 6-7 blocks reorg in the Monero history? And when was it? 6-7 blocks reorg and 1-3 blocks are two different things" 💰 ✋️ =Bag Holder. Any other info you'd like to share about a compromised coin??

Nice deflection There were no double spends like you falsely claimed (maybe you don't know what a double spend is) and the reorgs happened for 1% of blocks. Any user not paying attention wouldn't know an attack was even happening.

X (formerly Twitter)

johnnylaw (@JohnnyLaw2021) on X

Debunking the Monero “Attack” Rumors – A Data-Driven Look at Chain Stability

Yes .. please get those KYC retards out of freefom payment circles.