Is a P2P trade always documented ?? | Bitcointalksearch.org

perfect999

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Quote from: MyCB on January 19, 2022, 06:53:07 AM

If I did a trade with a user on Localbitcoins, for example, I'm sure LocalBitcoins would have a record of the trade.
But I wanted to know if all P2P sites make records on their platforms of a trade?
If a bad actor made the trade , are there records kept for law enforcement to follow up with?

I would want to believe they do and if not for anything, for reference reasons in the most cases. Using local exchange's P2P functionality as a case study; that's why they are able to tell me the amount of trades that has been done by me in particular time frame.

So, if any bad person made a trade if they want they can make it available for the law procedures then they need to record all the trades from the day one onward. So, not just trade history, IP address and session timing and browser, OS related things also will be logged for future references if needed.

hugeblack

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For example, Localcryptos claims that all the records between the user and the second party are made by generating a key for the conversation and are destroyed after its completion (after a week or two weeks,) and all financial transfers are made through onChain network, so using a good mixer, a good VPN and some experience will keep you away from monitoring.

In addition, the resources dedicated to tracking you determine the amount of evidence that will be collected about you. For example, if you are a drug dealer or any activities that harm the state, they can allocate sufficient resources to track you^[1] even if you do everything correctly and this is different from someone who wants to evade taxes than someone in a financial case In court.

[1] How the FBI caught Ross Ulbricht, alleged creator of Silk Road

pooya87

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Quote from: adzino on January 19, 2022, 05:20:07 PM

Quote from: MyCB on January 19, 2022, 06:53:07 AM

If I did a trade with a user on Localbitcoins, for example,

Did you have to go through any KYC or submit any kind of documents? If no, then all they will have is your username, your IP and everything related to your transaction (address and stuffs. the blockchain is public. Everyone can see that). And they can trace the transaction back to you. It is not impossible. Bitcoin isn't anonymous. So yeah, they will keep those basic records and will likely hand it over to the law enforcement if it is something serious.

Considering that OP is talking about a centralized exchange that as far as I know mandates KYC verification despite being considered a P2P exchange, there is no anonymity involved in the trades and whether or not bitcoin is anonymous is not relevant here since all the information about both parties are already known.

adzino

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Quote from: MyCB on January 19, 2022, 06:53:07 AM

Fellow traders!
I have on open question for anyone :

If I did a trade with a user on Localbitcoins, for example, I'm sure LocalBitcoins would have a record of the trade.
But I wanted to know if all P2P sites make records on their platforms of a trade?
If a bad actor made the trade , are there records kept for law enforcement to follow up with?

Thank you kindly

Did you have to go through any KYC or submit any kind of documents? If no, then all they will have is your username, your IP and everything related to your transaction (address and stuffs. the blockchain is public. Everyone can see that). And they can trace the transaction back to you. It is not impossible. Bitcoin isn't anonymous. So yeah, they will keep those basic records and will likely hand it over to the law enforcement if it is something serious.

The Cryptovator

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Using P2P exchange means you are revealing your address or bank details. So definitely they keep the record, otherwise, how do they settle transactions? Especially if you are using custodial p2p exchange. Everywhere have positive and negative effect. Especially if you are selling for cash, then the recipient's details are already exposed to the sender. So the record even could be saved by the platform where you are dealing.

jossiel

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Quote from: NeuroticFish on January 19, 2022, 07:40:59 AM

It's safer to assume they do.

I agree. It's better to think that they do.

They have no choice if the law requires them to look out for that transaction if it's illegal and they're requiring for that since they're on it investigating.

It's their platform and for sure that they got the access for the information needed and if the transaction is broadcasted publicly, they can just give out the txid to the law enforcers that's looking for it.

Wakate

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Quote from: MyCB on January 19, 2022, 06:53:07 AM

Fellow traders!
I have on open question for anyone :

If I did a trade with a user on Localbitcoins, for example, I'm sure LocalBitcoins would have a record of the trade.
But I wanted to know if all P2P sites make records on their platforms of a trade?
If a bad actor made the trade , are there records kept for law enforcement to follow up with?

Thank you kindly

I think exchanges keep record of every transactions that occur on their site for reference purposes. This records are needed for flashback and to keep account of those who are true P2e traders and in case of necessity. Most time, at the end of the year, this record are being checked to get estimates of their annual transactions and methods of improving more. All exchanges keeps records of all the trades which is very important.

OcTradism

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Documented on what?

On blokchain, public ledger or on a P2P platform you use for your P2P trade. It is always recorded on a public ledger but if you use a P2P platform for your trade, it can be worse. Because the platform will record your trade history (txhash, username, screenshot, and your identity document, etc.)

On some P2P marketplaces, you will have to pass KYC to start trading. It is not much different from trading on CEX. There are very little true DEX to use in order to avoid documented records that you don't want.

dataispower

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Quote from: MyCB on January 19, 2022, 06:53:07 AM

Fellow traders!
I have on open question for anyone :

If I did a trade with a user on Localbitcoins, for example, I'm sure LocalBitcoins would have a record of the trade.
But I wanted to know if all P2P sites make records on their platforms of a trade?
If a bad actor made the trade , are there records kept for law enforcement to follow up with?

Thank you kindly

Am reasoning that the only place sanity can be review is when the site for the p2p take place, because believing that the details of the transaction can be deleted from the transaction dash board because it's their site, but for sincere site every documents will be open and intact for review, because all the Bitcoin transactions always make it open, but I'm considering if their is some chips involve in building the site to trash all transaction immediately it is done, but is not possible

amishmanish

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Quote from: MyCB on January 19, 2022, 06:53:07 AM

Fellow traders!
I have on open question for anyone :

If I did a trade with a user on Localbitcoins, for example, I'm sure LocalBitcoins would have a record of the trade.
But I wanted to know if all P2P sites make records on their platforms of a trade?
If a bad actor made the trade , are there records kept for law enforcement to follow up with?

Thank you kindly

Newbie account asking their first question about "record of transaction" on p2p.

TLDR; "I tried to scam someone. Can they trace me using my P2P transactions?"

Option 2: "I tried using LBC to start a scam network but looks like they have KYC. Can you suggest something that won't keep a record?"

LOL. I know, i know. Just conjecture. The only time there is no record is when you use your own wallets. If you use a platform, there'd most definitely be some sort of KYC or record. Good luck man. May you be motivated to use anonymity for the greater good always.

mocacinno

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That's a very broad question you have there... ALL sites: probably not... MOST sites (especially the not-to-scammy ones): probably. There are non-custodial platforms like bisq that should be non-scammy but still not requiring KYC (at least, it wasn't using KYC last time i checked it out)

NeuroticFish already told you that onchain bitcoin transactions are always public, but that doesn't mean that the one you sell or buy bitcoins from has passed KYC correctly (even on platforms that force KYC, somebody can use hacked accounts or fake documents).

It might be better to ask questions about the platform you're going to use instead asking such a broad question that doesn't have a yes or no answer? If you feel uneasy about a certain service/exchange, it doesn't hurt to ask our input on the situation before sending FIAT/crypto to the buyer/seller...

NeuroticFish

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Quote from: MyCB on January 19, 2022, 06:53:07 AM

If a bad actor made the trade , are there records kept for law enforcement to follow up with?

You should be aware that all bitcoin transactions are publicly available on the blockchain and any block explorer can show the transactions and content of any wallet.
Of course, from knowing what happens on an address to linking an address to a person there's still a step. And depending on how careful one is, this step will or will not happen.

You should not rely that a website doesn't keep records. It's safer to assume they do.

MyCB

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Fellow traders!
I have on open question for anyone :

If I did a trade with a user on Localbitcoins, for example, I'm sure LocalBitcoins would have a record of the trade.
But I wanted to know if all P2P sites make records on their platforms of a trade?
If a bad actor made the trade , are there records kept for law enforcement to follow up with?

Thank you kindly

Topic: Is a P2P trade always documented ?? (Read 149 times)