The recent crypto slap in the face that we've got lately from the crooked EU legislators got me thinking... I'm that guy that always tries to circumvent shit, who loves "good anarchism", but doesn't believe in equality.
I'm a complete weirdo and I'm proud of that.
The bill that's supposed to force crypto exchanges in the EU in asking to KYC unhosted wallets that are transferring funds from and towards such exchanges is going to be enforced as of 2024, according to persons that are more knowledgeable than I am.
So what can we do until then to be able to take a shit on their Orwellian law and stay sovereign and anon with our internet money... One option would be to never exceed the €1,000 threshold for such transfers that asks for KYC on unhosted wallets, but that's weak imo.
Crypto was not designed for that. We're Spartans, remember?
So what else can we do... Well, for now, us individuals can't do much tbh, but we have options and we have some really good ones. It might sound a bit weird but what I was thinking lately is some mix between VISA/Mastercard and DeFi...
How could that be possible? Well, if we could somehow link a metmask wallet for example to a VISA card/account we would literally be able to spend crypto all over the world without needing to send these funds to a CEX and trigger the algorithms. I don't see yet the exact solution, other than P2P trading, but there has to be something.
It's about time that we should get rid once and for all of this dependency of banks when talking crypto and cashing it in and out, or we should better create our parallel financial systems with merchants and companies accepting direct crypto payments instead of cash and simply middle fingering the current financial system.
I guess we could do that, too, and solve inflation on the wa. I remember reading recently of Weimar's Germany from the 1920's where due to hyper inflation some shops and small businesses started creating their own currency. Why wouldn't we try that? I know it sounds like transitioning to a Fred Flintstone type of era, but you sometimes have to start it from scratch.
We somehow already have all the ingredients to decouple from a tyrannical corrupt system(BTC, USDC, HIVE, HBD, etc), we just need to connect the dots and web them across the globe, same as they did with their excessive power and control over us.
I guess it's time we should start using crypto more and speculate on it less. That's how I see it. What do you think, though, of my idiotic ideas, how legit do they sound :)? You got to appreciate my ingenuity in finding circumvention ways, though...
Thanks for attention,
Adrian