How would a vendor and a dealer connect with each other for BTC means of payment

Dzwaafu11

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Quote from: EluguHcman on March 08, 2024, 03:04:13 AM

So now, what is the state of security measures towards vendors who makes it obvious and publicly that they accepts Bitcoin transaction as alternative means of payments?

Or how would a vendor get connected with a dealer who wants to make payments to the vendor using Bitcoin if they both have to stay anonymous from their holdings?

These tags are not for these people because they are using bitcoin to make payments when they buy or sell something. So you can see that this is a public thing that people who buy something from them will know. so they cannot hide from anyone because it is what they use in their business. For example, if a country accepts bitcoin as a means of payment, you will see that all the citizens will likely have bitcoin in their wallet. In this kind of case, it is well known that everyone in the country may have bitcoin for transactions since it is legal, so the same thing applicable to these people using bitcoin as a means of payment in their business is not bad if people who purchased something from them know that they are hodlers; it just remains for them to ensure enough security for where they are storing their coin.

Adbitco

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I think this should be a problem to me because as dealer or business owner who accepts bitcoin what you need is to have a wallet not reaching access by people and if a payment is being sent they can be confirmed through explorer by then you don't to know who is in charge of that wallet than exposing yourself. Naturalling people will have this in back of their mind that Mr. A & Z accepts bitcoin in their business but that doesn't mean they are move all round with their wallet for people to hack them or steal their seedphrase or to whatever, people still connect here and initiate business between themselves without them going close to each other.

cryptoaddictchie

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Quote from: Despairo on March 08, 2024, 03:15:02 AM

It's impossible in the first place.

When you're already meet the person in real life, it's no longer anonymous.

Even if we talk about online marketplace, you need to submit your identity when you want to make a business/service/project, so someone already know about you. Except someone is willing to become a public CEO that known by anyone and you choose to work in silent.

Well I think its no longer anon too. I am using Binance and sometimes Ive sold my btc there thru exchanging to usdt and use p2p. Using my remittance as receiver makes me no longer anonymous. As much as I wanted to not leave any footprints but I cant completely do it as what I am using to withdraw my funds needed a KYC. Well its a big deal though but I cant do as much as p2p with someone I dont know too. Kinda hard and scary to meet someone and exchange with fiat that way.

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Quote from: EluguHcman on March 08, 2024, 03:04:13 AM

So now, what is the state of security measures towards vendors who makes it obvious and publicly that they accepts Bitcoin transaction as alternative means of payments?

For an investor, Your level of security and consciousness about it has to be increased or steadily be increasing and alongside the money you make. Bitcoins can easily be stolen but the whole process for stolen bitcoins will be much more easier if the holders and investors in Bitcoin are very careless people.

I do not think it will be very risky if as a vendor you decide to put out a sign that says that you accept Bitcoin as a means of payment in your establishment.

hatshepsut93

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That advice is not for all Bitcoin users but for private individuals. Organizations have different security model. They need to focus on digital and physical security as they obviosly can't operate anonymously. So for example the keys would be stored in a secure room in headquarters, everything is protected with strong passwords and air-gapped, and only a small hot wallet is connected to the servers. Bitcoin has been around for many years and there has been cases of physical attacks on individuals, but never true Bitcoin heists that stole from organizations - all the thefts were either hacks of hot wallets or inside jobs.

nakamura12

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There's no other choice but to expose his holdings in order to accept Bitcoin as other mode of payment. For buyer, it is possible to stay anonymous if he has balance from an exchange to withdraw in a new wallet made only to buy and pay with bitcoin while the main wallet doesn't get exposed to buyer or anyone at all. There are other ways to stay anonymous and it's up to you in which one you would use or maybe you will use the lightning network as dkbit98 explained.

Saint-loup

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Quote from: EluguHcman on March 08, 2024, 03:04:13 AM

We have always have this tag "Stay anonymous with your Bitcoin holdings and don't get exposed that you are a Bitcoin holder or a Bitcoin investor" for security reasons.

So now, what is the state of security measures towards vendors who makes it obvious and publicly that they accepts Bitcoin transaction as alternative means of payments?

Or how would a vendor get connected with a dealer who wants to make payments to the vendor using Bitcoin if they both have to stay anonymous from their holdings?

Accepting Bitcoin transactions for a seller doesn't imply he's holding Bitcoin and doesn't reveal anything about the amount of Bitcoins he is in possession. Sellers who doesn't like volatility or who doesn't want to keep accounts in Bitcoin, will exchange bitcoin payments into fiat money as soon as they can and won't leave one single satoshis in their own accounts. So if you think sellers accepting Bitcoin are all Bitcoin holders you're wrong.

dkbit98

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Quote from: EluguHcman on March 08, 2024, 03:04:13 AM

Or how would a vendor get connected with a dealer who wants to make payments to the vendor using Bitcoin if they both have to stay anonymous from their holdings?

You can get connected with some third party, and using Lightning Network payments would make it easy to hide your total Bitcoin holding.
Bitcoin Liquid Network also supports confidential transactions and with Aqua wallet you can pay both with Liquid and Lightning, or even is stable coins.

decodx

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If you're a vendor or business, it makes sense to use a separate bitcoin address for each transaction - one that doesn't hold any existing balance. Rotate them for each new sale or purchase. It breaks the chain of transactions leading back to your main stash of coin. This can be particularly important for businesses that value customer privacy or deal with sensitive transactions. But for completely stealth transactions, you can use privacy-focused blockchains, like Monero.

Zigabel

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Quote from: EluguHcman on March 08, 2024, 03:04:13 AM

We have always have this tag "Stay anonymous with your Bitcoin holdings and don't get exposed that you are a Bitcoin holder or a Bitcoin investor" for security reasons.

So now, what is the state of security measures towards vendors who makes it obvious and publicly that they accepts Bitcoin transaction as alternative means of payments?

Or how would a vendor get connected with a dealer who wants to make payments to the vendor using Bitcoin if they both have to stay anonymous from their holdings?

Staying anonymous about your Bitcoin hodling can actually be seen from different perspectives, if you are accepting Bitcoin as a form of payment you don't have to expose the amount of your hodling to your customer because they don't need to know but only need know the volume which you can transact with, how much you have isn't what you should let them know but you know within Yourself the volume you can do at a time and its limit. If you are totally anonymous I doubt if people could trust transacting with you except there's an intermediary in the for if an exchange platform where you both meet to make such and can stay anonymous yet having the trust of the transaction based on the intermediary otherwise you are to keep your portfolio anonymous and allow yourself to be known especially to your target market audience and not to everyone.

You can't be totally anonymous and people will know if you accept Bitcoin thereby reducing your customer base but if you are anonymous to those who you aught to be anonymous to then you can maintain some level of security because nots everyone knows about your dealings.

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Quote from: EluguHcman on March 08, 2024, 03:04:13 AM

Or how would a vendor get connected with a dealer who wants to make payments to the vendor using Bitcoin if they both have to stay anonymous from their holdings?

There's a couple ways you can go about this. For one, you could use an escrow service - they're neutral third parties that'll hold onto the bitcoin payment until both sides do what they agreed to and takes away the need for total anonymity that way. Or you can use a payment processor. Some big ones will handle the transaction and swap out the bitcoin for fiat that the seller gets instead. So they don't have to "mess" with bitcoin much themselves.

But like some members said already, it doesn't make much sense for a business to stay totally anonymous unless they're doing something shady illegal-wise or ducking taxes. I wouldn't buy from someone like that no matter what.

Husires

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Not only Bitcoin, but all your investments, do you go to the bar and tell everyone that there are 10 ounces of gold in your home, or that you bought a diamond ring. Privacy is essential even in bank accounts, but because of its ease of money tracking in bank accounts they focus on cash and prized possession, and we can consider bitcoin part of it just like gold.

rat03gopoh

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Quote from: EluguHcman on March 08, 2024, 03:04:13 AM

We have always have this tag "Stay anonymous with your Bitcoin holdings and don't get exposed that you are a Bitcoin holder or a Bitcoin investor" for security reasons.

Mixer, change address, send from centralized service.
Anyway, where did you get this tag? I think it's not anonymous, but more about privacy to the point where you feel safe from criminal attempts. After all, privacy is just a security option, some people don't even care about that especially if they have to share a residential address.

Cantsay

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Quote from: EluguHcman on March 08, 2024, 03:04:13 AM

So now, what is the state of security measures towards vendors who makes it obvious and publicly that they accepts Bitcoin transaction as alternative means of payments?

By “vendor who accepts Bitcoin as an alternative means of payment” I believe that vendor sells a physical product and most likely have a shop - in such a situation it would be impossible for the vendor to keep his or herself anonymous because the first step of running a physical business is making yourself known to the public and that have already gotten rid of your anonymousity.

The customer can still make their identity hidden to some certain level but the same can't be said for the vendor - for example the customer can simply decides to buy the product by contacting the vendor through digital means afterwards send them the location that your product should be moved to, that method can be used.

Cookdata

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Quote from: EluguHcman on March 08, 2024, 03:04:13 AM

We have always have this tag "Stay anonymous with your Bitcoin holdings and don't get exposed that you are a Bitcoin holder or a Bitcoin investor" for security reasons.

So now, what is the state of security measures towards vendors who makes it obvious and publicly that they accepts Bitcoin transaction as alternative means of payments?

Or how would a vendor get connected with a dealer who wants to make payments to the vendor using Bitcoin if they both have to stay anonymous from their holdings?

Unless the two of you use a platform like a centralized p2p where exchange can act as a middle person, you don't want to send your Bitcoin to someone you don't know right? There is very high risk sending your Bitcoin to a vendor you know nothing about unless there is a collateral involved and even at that, you need to get hold of something worth to be collaterized of your bitcoin.

I don't really think a vendor or a Marchant need to stay hidden or anonymous to buy or sell Bitcoin from people, they are usually open and transparent so as to gain the public trust since bitcoin transactions are irreversible and no person will want to trade Bitcoin with you except in situation where you want to use a middle man as escrow, like the ones we have in this forum. In this case, the buyer, the seller and the escrow identify remain anonymous since the forum escrow are trusted for their services.

AbuBhakar

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Quote from: EluguHcman on March 08, 2024, 03:04:13 AM

We have always have this tag "Stay anonymous with your Bitcoin holdings and don't get exposed that you are a Bitcoin holder or a Bitcoin investor" for security reasons.

So now, what is the state of security measures towards vendors who makes it obvious and publicly that they accepts Bitcoin transaction as alternative means of payments?

Or how would a vendor get connected with a dealer who wants to make payments to the vendor using Bitcoin if they both have to stay anonymous from their holdings?

If you are a vendor/businessman I’m sure being anonymous is not your top priority since your main goal is to become well known to make a sales. This anonymous features is dedicated for user that storing Bitcoin for their personal use not to those user that making business using Bitcoin because that’s 2 different goal on using Bitcoin.

There’s no way a vendor will pursue anonymous while at the same time try to earn using crypto because that’s contradictory to each other. You can only maintain being anonymous if you are not dealing to anyone here that need to expose your personal info.

Sim_card

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People that wants to remain anonymous don't need to use a vendor, rather they are to use DEX or mixers. So if anyone is encouraging you to stay anonymous means that you should not use any service that will expose for your identity when making any bitcoin transaction. However, if you are using a vendor that you need to see one on one, as stated above, have a separate wallet for such, and don't reveal the total amount of bitcoin that you have to anyone. It is common to say don't show your bitcoin hodling to someone or tell them much much that you gave in bitcoin.

Mpamaegbu

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OP, vendors who trade Bitcoin you mentioned have no better option than exposing themselves. They're marketing their businesses. You can't hide something if you want to market it. I believe those ventures will have a certain level of security around themselves. The Bureau De Change guys don't hide to do their business, why should crypto merchants hide themselves? They shouldn't. However, if one isn't an exchanger I think it's unnecessary louding it by letting anyone who comes in contact with one know one is into cryptos.

As for the face to face meet-up to transact Bitcoin I don't think it's safer than having one online if it's on a trusted site. A few days ago, a merchant tried to swindle me on a popular Cex (not Binance) by lying he had sent cash to me and that I should release the coin. I refused because I had always made sure I saw the money in my account before releasing assets. I'm never in a hurry while at any financial dealings. I've realized it's that hastiness scammers use as weapon and I've turned their weapon against them.

Zaguru12

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Quote from: EluguHcman on March 08, 2024, 03:04:13 AM

We have always have this tag "Stay anonymous with your Bitcoin holdings and don't get exposed that you are a Bitcoin holder or a Bitcoin investor" for security reasons.

So now, what is the state of security measures towards vendors who makes it obvious and publicly that they accepts Bitcoin transaction as alternative means of payments?

Or how would a vendor get connected with a dealer who wants to make payments to the vendor using Bitcoin if they both have to stay anonymous from their holdings?

Physical purchase of a thing and payment using bitcoin will definitely affect one’s anonymity. We have repeatedly discussed this in the forum and how it even affects some people trying to get a hardware wallet and they still want to stay anonymous, some end up faking their identity to stay anonymous.

For a vendor and dealer, the obvious solution is to make sure the address that is used in the transaction shouldn’t be an address that holds your bitcoin in bulk. This anonymity state is already sorted out by the use of different addresses for different transactions. The only thing that can be used to link you up is that address so when there isn’t much or large amounts of bitcoin on the address used for the transaction then there wouldn’t be a problem.

So for privacy purposes you can use different addresses for different transactions.

Bushdark

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Quote from: EluguHcman on March 08, 2024, 03:04:13 AM

We have always have this tag "Stay anonymous with your Bitcoin holdings and don't get exposed that you are a Bitcoin holder or a Bitcoin investor" for security reasons.

So now, what is the state of security measures towards vendors who makes it obvious and publicly that they accepts Bitcoin transaction as alternative means of payments?

Or how would a vendor get connected with a dealer who wants to make payments to the vendor using Bitcoin if they both have to stay anonymous from their holdings?

I think you are getting it all wrong, does anykme asked you to hide your crypto portfolio from the public? If so there is nothing bad in that and we can always create more wallets and separate our crypto portfolio from the ones we always use for transactions and the ones that is majorly for storage. We don't have to keep up to just one wallet, it is God when we have different wallets for different things so we can separate that from the public not knowing the value of our crypto holdings.

Despairo

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It's impossible in the first place.

When you're already meet the person in real life, it's no longer anonymous.

Even if we talk about online marketplace, you need to submit your identity when you want to make a business/service/project, so someone already know about you. Except someone is willing to become a public CEO that known by anyone and you choose to work in silent.

EluguHcman

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We have always have this tag "Stay anonymous with your Bitcoin holdings and don't get exposed that you are a Bitcoin holder or a Bitcoin investor" for security reasons.

So now, what is the state of security measures towards vendors who makes it obvious and publicly that they accepts Bitcoin transaction as alternative means of payments?

Or how would a vendor get connected with a dealer who wants to make payments to the vendor using Bitcoin if they both have to stay anonymous from their holdings?

Topic: How would a vendor and a dealer connect with each other for BTC means of payment (Read 196 times)