Can literally anybody explain to me why it has become like that
To take a line out of 1984...Big Brother is watching you...lol...but, really, that's it.
I observed long ago that the exchanges having to KYC was proof that there's no real DE-centralization. The BTC value will continue its decline as people begin to see that it's just another means of FIAT.
Realistically, all of the id requirements is based on the need for people to PAY TAXES on the transactions. Too many people are failing to report their crypto earnings, due to naivete or greed (matters not which); and, that's costing the govt tons of dinero. That fish won't fly...that dog won't hunt.
Best regards.
Peace.
I literally have to say, I am so glad that you are here! Finally there is someone who understands my concerns and I really want to thank you for your comment. Made my day!
Regards
Lol...GBY!...
I hope you won't be totally frightened away from crypto. I think it will be a common/viable means of exchange/income long-term.
Keep good records, even though it's all stored on the blockchain for your convenience; and, provide the info requested by the person who does your taxes. Crypto gains and losses are pretty much the same as for fiat investments.
Best regards.
Peace.