00:00All bitcoin transactions and satoshis stats are fundamentally equal on the bitcoin network,
00:03regardless of whether they are associated with know your customer KYC procedures or not.
00:08Here are five reasons why there is no difference between KYC and non-KYC bitcoin,
00:12emphasizing the fungibility and equality of all stats on the network.
00:151. Asterisk asterisk fungibility of bitcoin asterisk asterisk on the bitcoin blockchain,
00:20every satoshi with smallest unit of bitcoin is indistinguishable from another in terms of
00:24functionality. The network does not differentiate between stats based on their origin, whether
00:28purchased through a KYC compliant exchange or acquired anonymously. Each satoshi carries the
00:33same value and can be used interchangeably for transactions.
00:362. Asterisk asterisk decentralized protocol asterisk asterisk bitcoin operates on a decentralized,
00:42permissionless protocol. The blockchain does not enforce or recognize KYC status.
00:47When a transaction is broadcast to the network, mine is validated based on cryptographic rules,
00:51not on whether the funds were obtained through KYC or non-KYC means.
00:543. All valid transactions are treated equally.
00:573. Asterisk asterisk no metadata stored on blockchain asterisk asterisk the bitcoin blockchain
01:03does not store KYC related information. It records only transaction details like addresses, amounts,
01:09and signatures. Whether a user went through KYC to acquire the bitcoin is external to the network and
01:14irrelevant to its operation, ensuring all sats are processed uniformly. 4. Asterisk asterisk universal
01:20spendability asterisk asterisk any bitcoin, whether KYC or non-KYC can be spent anywhere that accepts
01:25bitcoin, provided the transaction adheres to the network's consensus rules. The network itself imposes
01:31no restrictions based on the source of the funds, maintaining the principle that all sats are equal
01:35in terms of spendability. 5. Asterisk asterisk privacy is external to the protocol asterisk asterisk
01:41KYC is a regulatory requirement imposed by centralized entity exchanges and not a feature of the bitcoin network.
01:466. While KYC may tie personal information to bitcoin at the point of acquisition,
01:50this does not alter the bitcoin itself or its treatment on the blockchain.
01:537. Non-KYC bitcoin operates identically on the network, reinforcing the equality of all sats.
01:588. In summary, the bitcoin network treats all sats hushies the same regardless of KYC's status
02:03because its design prioritizes fungibility, decentralization, and privacy at the protocol level.
02:079. Any distinction between KYC and non-KYC bitcoin exists only in the context of external
02:12regulations or services, not within the bitcoin network itself.
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