Max DeMarco's avatar
Max DeMarco maxdemarco@primal.net 9 months ago
Sad bitcoin in Europe reality check - it’s getting baaaad.. I sent my friend his first bitcoin to Revolut ($30) He had to verify the wallet it came from. Including my name, wallet etc. since I used a wallet which isn’t kyced (lol) they refused the Bitcoin - he was forced to send it back. Read that again. SEND IT BACK TO THE WALLET. He couldn’t do anything with it. Fucked up. But now he’s holding his own keys - he immediately understood why we bitcoin 😂 Barbara Streisand effect. View quoted note →
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Replies (26)

Dennis's avatar
Dennis dennis@einundzwanzig.space 9 months ago
Longer term the MiCA regulation and its burdensome requirements can be seen as a good driver for self-custody. It's a clear distinction between truely owning bitoin or using the cucked and permissioned version.
Buckleys's avatar
Buckleys 9 months ago
Crazy work.
Max DeMarco's avatar Max DeMarco
Sad bitcoin in Europe reality check - it’s getting baaaad.. I sent my friend his first bitcoin to Revolut ($30) He had to verify the wallet it came from. Including my name, wallet etc. since I used a wallet which isn’t kyced (lol) they refused the Bitcoin - he was forced to send it back. Read that again. SEND IT BACK TO THE WALLET. He couldn’t do anything with it. Fucked up. But now he’s holding his own keys - he immediately understood why we bitcoin 😂 Barbara Streisand effect. View quoted note →
View quoted note →
MindMining's avatar
MindMining 9 months ago
Revolut is just another pain-in-the-ass neobank trying to look cool and in your favour but in the end are just a bank and working for themselves & the cartel and not for you. They closed my account years ago, because what they would've loved to know was also none of their fucking business. Of course they take hostage of the funds first before they start to ask for info. Motherfuckers.... image
Xtr3m3hodl's avatar
Xtr3m3hodl xtr3m3@nsec.app 9 months ago
Instead use a site/app like bisq, peach etc and then use revolut for the Fiat payment if purchasing Bitcoin
Lyudmyla Kozlovska's avatar
Lyudmyla Kozlovska lyuda_ODF@BitcoinNostr.com 9 months ago
That is sad reality and consequences of no even small attempt to support defending bitcoin privacy tools and transactions in the EU. US bitcoiners defend themselves but the European bitcoiners said they “don’t care” and “bitcoin doesn’t need defense”.
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Lyudmyla Kozlovska's avatar
Lyudmyla Kozlovska lyuda_ODF@BitcoinNostr.com 9 months ago
As bitcoin human right activists we defend our freedom tech & p2p tools in the EU. We described in detail the consequences:
Open Dialogue Foundation
Impact of the EU and FATF Regulatory Frameworks on Non-Custodial Crypto-Assets Wallets - Open Dialogue Foundation
Objective This report provides an analysis of the current and forthcoming regulatory frameworks within the European Union laws, based on the FATF...
 But it is impossible to get substantial results without mobilization of the eu bitcoiners as community and get things done: we need to bring more expertise, resources for advocacy, be vocal about social use cases in front of regulators and dedicate time for that. Nothing will be granted without effort.
Andy's avatar
Andy andywilliamsuk@nostrcheck.me 9 months ago
I was about to say the same. It’s really only a pseudo wallet anyway. If you start sending or receiving outside Revolut they will lock your account down. If you buy and sell within the app it is okay.
Andrew Gomez's avatar
Andrew Gomez realandrewgomez@nostrplebs.com 9 months ago
Painful lesson I learnt from the great btc debit card shutdown of Jan 2018, folks: keep your fiat and crypto seperate, never mix the two. More important now than ever before. Crypto transactions in your Fiat accounts are "suspicious transactions" and could get one debanked.
Default avatar
danielec87 9 months ago
And Revolut is one of those banks that pretends to be "crypto-friendly", so imagine the others.
David Coen's avatar
David Coen _@davidcoen.it 9 months ago
You should NEVER, EVER, send "on ramp" bitcoin to a custodial service. "Yes, but for small amounts the setup is a mess!". Soon it will become as easy as sending to a Bitcoin address.
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