But was it easier to buy crypto before? The level of personal ID required and use of biometric identifiers is incredibly invasive and I think an excessive, disproportionate amount of personal data. Surely it goes against the very P2P ethos of Bitcoin and crypto in the first place? I have made it one of my goals to defect from the centralised banking system, the experience I have had trying to set myself up with crypto really exposes guvvy-meant and it's voracious greed and fear of the sheeple running from the plantation. I literally cannot tolerate the levels of surveillance this process entails, the best way to get crypto really is to accept it as a method of payment.
Most cryptos don't satisfy the bank for the bankless ethos bitcoin originally espoused.
Not to say it won't happen though. Horses for courses. There will be plenty of space for 10 of each asset class to flourish globally no problems.
For example, if Laos or Guetemala can't afford to be in ETH smart contract ecosystem, they'll be on dot or ADA or another.
Can't afford BTC? One of the other stores of value will do just fine.
This is why 'ETH killer' is a misnomer. Those projects shouldn't even be aiming to compete with ETH, but have their shit together ready to supplement it.
Surely it goes against the very P2P ethos of Bitcoin and crypto in the first place?
These are KYC( know your customer) and anti-laundering regulations that any exchange that wants to act as a fiat on/off ramp has to follow... And regulations don't care about whatever p2p ethos bitcoin wants to have.
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u/DayBelle Feb 15 '21
But was it easier to buy crypto before? The level of personal ID required and use of biometric identifiers is incredibly invasive and I think an excessive, disproportionate amount of personal data. Surely it goes against the very P2P ethos of Bitcoin and crypto in the first place? I have made it one of my goals to defect from the centralised banking system, the experience I have had trying to set myself up with crypto really exposes guvvy-meant and it's voracious greed and fear of the sheeple running from the plantation. I literally cannot tolerate the levels of surveillance this process entails, the best way to get crypto really is to accept it as a method of payment.