True peer-to-peer Bitcoin trading is great, it's legal, it preserves privacy, you don't have to pay any fees, and sometimes you even make friends. Do you buy and sell Bitcoin peer-to-peer, in person, maybe even for cash?
What's something you consider P2P etiquette? What's something you wish more people did or knew?
I'll start:
- I always meet in person, and will only transact Bitcoin and cash. I have to be very clear about that, because it already happened that people showed up in person, expecting me to take their wire transfer.
- Great places to meet are libraries (if you and your peer are able to converse with a soft voice), hotel, bank or post lobbies. Bitcoin meetups can be the ideal place if you haven't transacted much P2P before.
- I will make it clear in advance what reference exchange rate I typically use, e.g. the Kraken pair for my local currency
- I don't accept or charge any markup or discount to the reference rate, but I do expect whoever is making the Bitcoin transaction to pay their network/routing fees
- Lightning very much preferred! I don't want to sit around for an hour waiting for a block to be mined. I understand that especially for large amounts, this might not be practical
- I haven't quite worked out the exact flow, but so far it seems to be most appropriate for the buyer to show they brought the cash, then share their Bitcoin address/LN invoice, then for both to agree on an exchange rate, then for the money to be counted and then for the Bitcoin transaction to be made. Once the Bitcoin transaction has been confirmed/completed, the seller takes the cash off the table.
- There's no safe way to advertise these deals, and I don't think there will be. So offers and bids are likely made in your local groups's Telegram chat room, or the local Bitcoin meetup. It's always worth to ask at the end of the trade if they would like to meet again. Most people are either consistently selling (for example because they're earning Bitcoin), or buying (because they're stacking or spending). Good to know who belongs to the other group than you!
This is why I eventually went with a multi-sig setup. Even under duress, it's simply not possible for me to forfeit my funds easily. The attacker would have to travel to several guarded locations and somehow not arouse suspicion.
You paint a future where Bitcoin has appreciated dramatically. Allow me to add some further details: The legacy financial system has collapsed, the no-coiner majority is unimaginably salty about Bitcoin's success, and most exchanges have had their KYC details breached and published all over the darkweb. Attacks on Bitcoiners are cheered on and encouraged.
Do you think your funds are secure in that scenario?
That's the benchmark I set for myself. Don't plan for today, plan for 5-10 years from now. If you're not constantly reviewing your security practices, you are not nearly bullish enough on Bitcoin. It should scare the shit out of you, actually.
Based in a Texas close to the border and see it everyday. The amount of people crossing daily is insane, and they know they’ll get a free pass as soon as they cross.
I’ve seen people cross and wait for border patrol to pick them up. They already know the process and know that surrendering to BP will get them in the country faster.
Illegal immigrants have been house at various locations to include motels and facilities run by cities and are then transported by bus, some even by plane, to sanctuary cities or family that is already in the country.
Operation Lonestar is bolstering security at the border, National Guard troops are only allowed to report illegal immigrants to BP.
Stronger border security and better policies would greatly help. As I stated, people crossing illegally already know the process, that’s why they’re crossing at high numbers.
12ft proxy
An archive of the article is here. An archive has no paywall, no subscription requirement, and can be easier to read.
I have my min zap at 100 so I can keep my hat easily
An infinite decision in the hands of finite beings strikes me as unwise.
I'm biased to say yes, but realistically speaking what we need right now is better client software. More app and desktop wallets trying different UXes and goals. That to me is the current bottle neck.