Topic: P2P Trade for Indian board members (Read 106 times)

It seems the time has come to find out an option  to counter this stupid tax. I am all if the future of my existence on this forum allows me to make some Bitcoin with signature campaign.

Since you are a mod on that subreddit, you can surely create a poll on that platform whether members would be interested in doing P2P transactions on the local board marketplace. Some of us might not be interested due to lack of anonymity but others might. According to the results of that poll we can then think about the T&C. A telegram channel is also trying to find ways to do P2P transactions securely. It is a small group of 1000 odd memmer. A few prominent BTT local board members are part of that channel. I can ask them if they would be intrested in such initiative.

The overall user count of bitcointalk has gone down relatively while comparing to the 2018 bear market. There may be many factors associated with this, ranging from users moving over to Twitter where we get first hand information at a faster pace or they are unwilling to reveal themselves after the scrutiny created by the Indian government.

Back when Benson Samuel was moderating the Indian board, we had a huge traffic and everyone were interested in getting involved in discussions but nowadays the active member count has gone down drastically and the remaining users like us are in the dilemma or receiving suggestions to improve the board's traffic count.

r/BitcoinIndia, the subreddit dedicated to discussing about Bitcoin in India and the one which I am moderating has risen from a member count of 5k Bitcoiners to more than 110k right now. May be, we should bring all the like minded Indian crypto communities under one bigger umbrella for carrying out discussions. Thoughts?

Volume would be a big issue considering the number of active users on our local board. At the most we have 5 to 7 active user here. After the last bull run the traffic on Indian board had gone down. After the new tax law it has dried down completely. Maybe by next bull it might again go up there is a possibility that it may not.

Maybe its not that big for them if I am not wrong cause some of them are personally knew them apart from bitcointalk so they use that trust level to make trades despite of exposing their personal information.

Yes, volume is definitely an issue but I though if there will be match then well and good otherwise we can still trade on other platforms.
But reading the opinions from other members on this thread it is clear that P2P trading on Indian board is not really a good option because of privacy concerns.
I wonder how other local boards are operating P2P trading. Aren't they scared of revealing their identities ?

But I think we relatively have too less people on the forum to actually make a successfull P2P trading forum. I don't really think just 10-15 people would be able to make a good platform. I like other countries like Phillipines and Indonesia doing the same many times but their strength of people is the only reason why they are successfully able to do that. but yes we can surely give it a try.

The idea is good but the problem will be creating the volume required for trading from the Indian board is not going to be enough. Since it's a known fact that Indian board is not having many active members and even those who are necessarily need to have interest in trading so doing this may not bring any considerable change in my opinion.

You can post a poll and call for members to see how many of them are actually interested in doing p2p via forum will get conclusive answer.

See now that's what I am talking about. Binance P2P isn't safer too because there are people involved in trading illegal money which can lead to bank accounts getting frozen.
I do agree with all of you though that this forum might not be the best idea to initiate a P2P trade for INR pair.


It does give the name of the person doesn't it ?

As soon as I enter my UPI id on online payment gateways and click on verify it shows me my name.
But I guess that's only thing that is publicly available. A good thing is that it doesn't reveal the bank account details.

We can use bisq, wherein anyone can create a trading request for BTC/INR and INR/ BTC. I created a thread that can be used to for tax free trading within our community. Go ahead and check it: https://bitcointalksearch.org/topic/start-trading-on-bisq-if-you-want-to-save-tax-5443291 Regarding anonymity! Share your UPI address that is based on mobile number. I know it is possible to find out the source of that mobile number but it doesn't give the name of the exact person. It is good if you guys can open a new bank account only for P2P transactions.

Binance P2P is the worst place to trade as there are too many scammers buying cryptocurrency and paying scam money. Avoid any Indian P2P at the moment if you do not want to get your bank account frozen. As @Heisenberg_Hunter said forum P2P is a bad idea because it will reveal everyone's identity. We are here because we love anonymity and through it we have build a trust around us.

Marketplace section makes sense but is Binance P2P really that safe though ?
I think I have read somewhere that people's bank accounts were frozen because the money was coming from an illegal source.
I don't have the link to that post handy or may be I read it on other platform.

This is indeed a good idea and as Wapinter pointed out, we already do have a dedicated board for trading. But, P2P trading on forum is much more worse than trading on large scale platforms such as Binance P2P. One such problem is losing the anonymity of individuals : We as forum accounts have knowingly or unknowingly built trust and these forum names are much more trusted than our real life names. What if a bad actor try to take advantage of this and threaten us for doxing in the future? Even though, we both have been chatting regularly and discussing about various news related to Bitcoin over the past few years, both of us never knew each other personally and this anonymity is required in the case of crypto transactions.

Binance P2P on the other hand, helps us to connect with trusted anonymous individuals who have done various trades in the past. They never know if you are involved in forum activities or they never know the other side of your life. More or less, our Binance accounts are connected to our real life whereas forum accounts have been created to be distinct from them. Trading cryptocurrencies within the forum is always a good practice since we never expose our fiat bank account and our name and personal information are safer. Finally, the chances of getting scammed or account being frozen is relatively lower IMO since Binance regularly monitors the transactions and accounts in their platform so that we have a safer trading platform.

We already have marketplace in Indian board where we can create a thread for buying or selling anything including crypto.

I don't think there is many traders from India here anyway. Mostly newbies trying to trade. Without escrow nobody should and would trade with these newbies.

P2P platforms like Binance are much safer when you trade with anonymous people because they have verified their profile.
If any scam occur, matter can be reported to them and they can take action against the scammer.

I personally think that the Indian board should have a P2P thread open in case they have something to trade.
Its better to trade with trusted people than to trade on other P2P channels like Binance P2P.
The chances of getting scammed or account frozen are relatively high on other platforms than on this thread.
Only active Indian board members will be allowed to trade on this thread.

I want you guys' suggestions so that I can convert this thread to a P2P trade channel. Otherwise I will just lock it up if nobody is interested.