Topic: P2P will save your life - page 3. (Read 559 times)

How Binance is p2p? Do they have some service that exclude themselves from the equation? I can't see how and why would they do something like that. But if this is the case, please explain to me how do that service runs! I deleted my account from there some time ago, so I can't know how it works. But I would like to know if it is trye p2p!

How can you think that Binance is the best p2p?  You answered your question yourself, if binance will take action it is because they have network centralization which should never happen on a pure p2p.  Usually the nodes are equal and no one can have control over them, p2p does not always mean cheating but obviously you have to make your own assessments.

P2P is one of the oldest dealing ways even before it was implemented in the crypto industry. I strongly support it and specially without kyc in the crypto sector as that sector was found to spread anonymity and decentralization!

Whether or not coins are actually "tainted" largely depends on the laws in each jurisdiction, i.e. how they approach a situation where say a merchant gets paid with stolen money (be it bitcoins or physical cash), will such money be confiscated or will it be seen as legitimately earned?
Of course it gets trickier with P2P exchange, and I think it'd usually be approached on case-by-case basis, but in countries like the US, there would be a big chance of them getting seized, because the US loves seizing stuff (see the Civil Forfeiture laws)

Then you need to file a report against this site https://www.chainalysis.com/ because their main service are tracking the coins' origins in order to combat against of money laundering. They are cooperating with centralized exchanges too, so if you use a centralized exchanges to trade your coins, you has a chance being tracked by them.

It's not mean I support chainalysis, but you're wrong if the centralized entities aren't consider about tainted coins.

I think you're grossly underestimating the potential of modern technology and the synergy of many people's efforts. There are certainly dangers associated with using Tor, but these are to be expected on the road to technical progress. In addition, doesn't Bitcoin itself operate on the notion of evolution? While privacy is a serious issue, it is not insurmountable. Decentralised VPNs and the development of more secure cryptographic methods bode well for the future. These innovations arent without flaws, but they show promise for the future.

Let us not forget that the trust crisis that gave rise to Bitcoin was itself the result of a lack of trust. While Bitcoin does its best to avoid the pitfalls of trust, it does not do away with it entirely. The reliance on a single entity is replaced by faith in the decentralised network's stability. Its a common misconception that the Tainted Coins are real. Bitcoin's fungibility is one of its greatest strengths. Bitcoins are interchangeable, and its pointless to try to trace their origins.

I think it's hard to go through the P2P route. I've already tried finding buyers to sell my BTC for local fiat currency and everything I found was a local service which buys cheap and sell high. So they never follow the currently quotation of BTC price, as they have to purchase it cheaper to have some profit by selling above the margin.

Anyway, I like the service and I always use them, since it's done P2P, without the need of signing up on an exchange platform and agreeing with several terms and conditions. It's really convenient, although I would like to find someone to deal with who would follow the official quotation of BTC price on Google.

People are so used to exchanges that they don't care about P2P transactions. And the few who care don't find partners to deal with.

in every aspect of business, there's always a scammer so yeah, each user should be very careful in dealing with strangers over the net. this is why i believe the p2p in binance got a good following because binance itself is a reputable platform. so they know that if somebody screwed them, binance will take action. they also have fail safe in place, like you can file a complaint if someone didn't pay you. you can also check the number of orders completed. you will have idea how they are doing their business.

Here are my two cents.

The only reason Tor is the preferred network is due to how many people are using it.  The more Tor users there are, the tougher it becomes to track every body.  It works exactly like Tor Bridges.  You can use Bridges to avoid getting caught for using Tor.  It works by camouflaging your network so the ISP never knows you are using Tor.  This comes with its own set of issues as follows,

In case your country decides to fully crack down on every thing that involves Anonymity and Privacy, you are able to avoid their new rules by using a Bridge.

Consequence.  The more people use Bridges, the higher chances are for other Governments to start cracking down on Tor too.  Following the logic of less people using Tor makes it more abnormal to want to use it.

If we had a better idea than Tor.  I believe we would immediately adopt it.  We had Open Bazaar that attempted a better Peer to Peer way of doing things.  But it failed as far as I know.  I do not even know if it exists any more at all.

Building a set of relationships through trust is a solution.  But only temporary I would argue.  Bitcoin is here to avoid the issues trust involves.  If we consider privacy, you can not have many ways of communication with the other Peer.  You are afraid of being under a DDoS attack from your Government.  How do you trust communication with your other Peer through E-mail or Phone?

You can use Telegram.  But even that is not Open Source, so you are left with Signal and maybe encrypted SMS communication.

The Tainting issues you mentioned are invalid.  There are no Tainted Coins.  Are you going to buy Bitcoin Peer to Peer and verify the history of your other Peer by using Blockchain Analysis?  Then there is no point in all this effort.  Simply go to Binance and buy a 'clean' KYC Bitcoin if you care so much.

I wish flexibility was as easy as you wrote.  Good luck finding some body who would give you grass fed beef for your Bitcoin.  Or who would give you a local voucher for it.  If you are afraid of your Government tracking every thing you are doing.  I would be afraid of working with just ONE person for every thing I do.  What if that person is sent exactly by the Government to trace how Peer to Peer only Bitcoin users are using their Coins.

In theory.  All you said sounds amazing.  In real life however.  Things are different and not as easy as you make them sound.

Even though the blockchain offers a secure mechanism for peer-to-peer transactions, you should always take precautions when dealing with strangers or people outside your circle of trust.  Mutual trust is a crucial element when carrying out p2p transactions, regardless of the platform used.

Although in reality this concept could be valid if you are trading something of value while for example im BitTorrent this makes less sense.

The P2P is the base for the Fiat to crypto conversion,mostly the Usdt was brought all over the world by the P2P in most of the trusted exchanges.They charges few dollars as the fee from the buyers to their Service.This P2P is act like the escrow of the deal and product from the loss by doing online deal to the stranger in other part of the world.If you do the deal online without P2P or escrow,you will see the real face of the people.They will try to scam at the other end.

Is there anything to create p2p again because p2p is already existing in the blockchain what you have to do is just a trust. And this trust must be given to someone within your area region and more likely your community because if you just merely trust someone in another country and send the coins to the person without receiving your money and the person run away with the coin then your coins will be gone.
That is why exchange p2p is also good because you have to receive the money before you release the coins. And every country has their p2p methods to do except the international exchange platforms which perform general per to per. So creating separate p2p for transactions might not necessary again because there are already existing ones.

P2P is great when there is a trusted person, either Person1  or Person2 else it's not going to save your life. I use Binance's P2P system and it's pretty much great.
They have integrated some important metrics like how much time user takes to release the crypto or what's their trust rating recently.

Before that, I used to do P2P on localbitcoins. Good old days.

You could be right, but I don't think it'll be that quick. Few months to a year would be a very short notice. But I don't see cash getting completely replaced until we have CBDC, or other solutions that are available to everyone (including homeless etc). Currently banks can deny you a service even without stating any reason, so potentially some people would be left out without any means to participate in the system.


What's widely described as P2P online crypto transactions (e.g. exchanging btc for fiat) would still require a 3rd party fiat processor.
The only "true" P2P transaction would be exchanging btc for physical cash, but that won't be possible if/when cash goes away.

It is difficult for us to get rid of cash at the present time, so Bitcoin does not present itself as an alternative to cash, but rather another option for those who want not to trust central systems or banks, and it is understandable if you are in a country under sanctions or your wealth has been eroded by inflation. The influence of Bitcoin will increase, and you will have multiple spending options if the demand for it increases.

Treating money in categories and that this is clean money, colored money, and dirty money is a mistake. Money is money, otherwise it would have been the first to destroy the money that is confiscated from the drug trade.

It is true that we have limited options for those who want to buy and sell bitcoin without KYC, but there will always be an option or alternative such as XMR, and the centralized options will become better regulated.

When did losing control over your funds and giving it to a third party become safer that being in control of your trading funds throughout the trade. This thread shows that many people don't know how p2p exchanges work and it would save everyone's time if they learn how it works. A multi-sig set up ensures that the trade happens without any party being scammed, it is not dangerous; you just have to know what you are doing and choose an irreversible payment option if you are the seller.

You've made an interesting idea in advocating for long-term trusted trading connections, however this runs opposed to the core spirit of what Bitcoin represents: decentralisation. I think it's a step backwards to advocate for a trust-based system because that means going towards a more centralised structure. We might as well be asked to put our faith in the government and huge banks all over again.

You're right, there are problems with Bisq. Each and every one of them does. However, these problems can be fixed. Bitcoiners, rather than reverting to more traditional trust-based relationships, ought to concentrate on enhancing and perfecting these decentralised alternatives.

Also, it's risky to discount the importance of regulated markets altogether. Yes, they have their own issues, but they supply Bitcoin with the services and liquidity it needs to thrive in the current economic context. Throwing them out entirely would be like trying to save the world by drowning it in a bathtub full of dirty water.

That's cause people don't appreciate what they don't normally use for their daily lives so that's bound to happen. It's not really a good assumption though, that anarchy is going to be a bad thing for more people, don't the people in Slab City in California live in peace even though they're the closest to a lawlessness? I can understand the scare of using P2P but when the system in place is working properly and ensures the safety of both parties, it's safe to assume that using P2P for transactions is relatively safe. Safety and risk is relative to how competent the system is in my opinion.

Many people always think that they do not need government regulation and take away their freedom, but when they are scammed by someone, they always look to the law for help. That is really too funny and despicable.

P2P is really a transaction method that can guarantee our privacy, but it is really too dangerous and too risky, I also can't trust using P2P exchange platforms without a middleman.

I agree with you that p2p on Binance isn't 100% p2p because if anything goes wrong then there is always a middleman who is involved the solve the issue. I remember the time when my transaction was sent by a trader whom I traded with but wasn't received in my account, and then we appealed the system and it took 4 days for my transaction to be deposited into my account.  I received my transaction after 4 days and we both agreed that the issue was resolved. I know that there is an issue of privacy on Binance, but still without their interference it would be difficult to solve the issue.

I would also chose safety of my money over privacy because if my assets and my money is safe, and for that I need to do my KYC, then I wont hesitate with the thing. However, if there was such a platform on a decentralized exchange then I would definitely go with that, but currently the only safe options are those exchanges that require KYC and they have their name in the crypto-world.