The Case for Privacy: Why Non-KYC Mining Pools Matter
Bitcoin was created by Satoshi Nakamoto as a "Peer-to-Peer Electronic Cash System." It was designed to be permissionless. You do not need a passport to create a wallet. You do not need permission to run a node.
However, as the industry has professionalized, a dangerous trend has emerged: KYC (Know Your Customer) Mining Pools.
Major corporate pools now often require miners to upload photo IDs, phone numbers, and residential addresses just to connect a machine.
At Gokby, we believe this fundamentally contradicts the spirit of Bitcoin. Here is why Non-KYC mining is essential for your security and the network's health.
1. The Risk of Data Leaks
"Why should I care if the pool has my ID? I have nothing to hide."
You might not have anything to hide, but you have something to lose.
Cryptocurrency companies are prime targets for hackers.
- The Ledger Leak: In 2020, a hardware wallet manufacturer suffered a data breach. The home addresses of thousands of Bitcoin owners were leaked online. Many users received death threats and phishing attempts.
If a mining pool gets hacked and your home address is linked to your mining activity, criminals know exactly where expensive hardware and Bitcoin are located. No Data = No Leak.
2. Censorship Resistance
The core value proposition of Bitcoin is that it cannot be censored.
However, KYC pools are legally legally obligated to comply with government blacklists (like OFAC).
If a KYC pool decides that your wallet address is "suspicious" (perhaps you used a CoinJoin or received coins from a gambling site), they can freeze your payouts.
In a Non-KYC pool, the pool operator does not know who you are. The math doesn't care about your politics or your location. It just verifies the work.
3. Tax Complexity vs. Simplicity
Disclaimer: This is not financial advice.
When you mine on a KYC pool, that entity creates a permanent record of your income linked to your real-world identity, often sharing it automatically with tax authorities regardless of your local laws.
Non-KYC mining puts the responsibility back on you. You are free to report your taxes accurately according to your local jurisdiction without a third-party corporation spying on your finances.
How Gokby Protects Privacy
Mining on Gokby is strictly permissionless.
- No Account Creation: You do not create a username or password.
- No Email: We do not collect email addresses.
- Wallet Auth: Your authentication is simply your wallet address.
To start mining, you simply configure your ASIC with:
stratum+tcp://btc.gokby.com:3333
User: YourBitcoinAddress
That is it. We don't know who you are, and we don't want to know. We just want your hashrate to help secure the network.
Conclusion
Privacy is not about hiding crimes; it is about protecting individual liberty. By choosing a Non-KYC pool, you are voting for a Bitcoin network that remains open, neutral, and free for everyone—just as Satoshi intended.
