Trying to share wisdom | Bitcointalksearch.org

ice098

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Quote from: Findingnemo on October 02, 2020, 10:33:48 AM

Quote from: chaser15 on October 01, 2020, 03:53:45 PM

Quote from: ibuddy122505 on October 01, 2020, 12:16:40 PM

Like as yours, I've taken a break for around one years here since the last(2018) cypto crash. Meanwhile, I’ve been learning lot how to trade. Prime part here is trade for yourself but not guided by others.

Don't close the doors to other's suggestions. You don't need to primarily trade thru your self-knowledge most of the time.

Welcome other's input as I think you have the ability know if it's worth following or not. Take their pointers as advice then apply it to your self-knowledge.

OP can consider creating a public room for a purpose of this as I think he's not used to share wisdom via regular posting.

Veterans may not really having enough time to post on bitcointalk, we can see that in most of the sections of our forum has less activities. Bit this thread will be helpful for the upcoming traders even if they have their own way there is nothing wrong in learning the new strategies, methods, condition from different members.

Yes i bet veterans in cryptocurrency doesn't have enough time to post, shared their knowledge and experiences here in bitcointalk but here in forum we still have some of the experienced traders willing to share wisdom and basic knowledge about cryptocurrency. We may have different story, different experiences but dont be confused about who advices would you take. Be open in any information you may get and trust here in forum that members here will never share those information that cannot help newbies.

Peanutswar

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Well, trading gives you a lot of headaches if you do not get a good profit, base on my experience in p2p trading this gives a more advantage because when Im making a trade to the friends of mine all you need to do is send the funds without less too much transaction fee, this is the benefits I really like. Im just a beginner in trading but I know some of the process and how does it work so I share those to the people want to earn with me, of course, I give them an idea what are the possible outcome will happen if they trade.

Quote from: MCDev on October 01, 2020, 12:10:49 PM

According to your recommendation, you are a person with a lot of experience in investing in the cryptocurrency market, can you recommend some tips or tricks for people.
People here are trying to find an investment strategy and are happy to hear about your experience.

Also I'm getting curious what I are the techniques use by OP like what are the technical indicators he uses, Mine is just the MACD, VOL I want to learn more with the use of trading indicators.

lixer

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Quote from: LUCKMCFLY on October 01, 2020, 06:00:34 PM

There is a practice that many do, which is to buy and sell, as they do in localbitcoins.com, they buy low and then sell high, generally this works wonders in countries with inflationary economies, from a point of view of Saving is quite beneficial, because the money in local currency increases as time goes by, sometimes in a day you can earn a lot of money, but you must do the transactions very quickly so that it is not dangerous to lose.

Actually these trades yield a massive amount of income but only if and once you become a recognized trader and know how much fees you have to pay on each trade as taxes to the government and making sure you are doing it legally.

I have seen the variance in buy and sell on localbitcoins is easily around 5-8% on average in buy-sell and once who buys from users earns like 8% on buying trades and then 8% on sell trades, all he needs is a good reputation and a genuine setup but it is not as easy as it sounds though because I myself tried this and people are really smart and try various methods to scam you like fake messages, fake transactions and even carded funds.

justdimin

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I personally believe that if I end up reading others thoughts on these subjects, there is no way that I could make any profit because there are so many people who have different opinions, some people think X whereas others think anti-x which means I need to trust one of them and I wouldn't know which one to trust.

Instead of that I try to learn how they came to that conclusion, if I learn how they think to figure the price out, I could learn how to think like that as well, that could be very helpful for your own predictions. That is definitely something I would love to do, learning everything yourself to figure out what people do to predict the market. Of course this is not single alone method, you could probably listen to just one expert as well without getting confused with others.

Findingnemo

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Bitcoin = Financial freedom

Quote from: chaser15 on October 01, 2020, 03:53:45 PM

Quote from: ibuddy122505 on October 01, 2020, 12:16:40 PM

Like as yours, I've taken a break for around one years here since the last(2018) cypto crash. Meanwhile, I’ve been learning lot how to trade. Prime part here is trade for yourself but not guided by others.

Don't close the doors to other's suggestions. You don't need to primarily trade thru your self-knowledge most of the time.

Welcome other's input as I think you have the ability know if it's worth following or not. Take their pointers as advice then apply it to your self-knowledge.

OP can consider creating a public room for a purpose of this as I think he's not used to share wisdom via regular posting.

Veterans may not really having enough time to post on bitcointalk, we can see that in most of the sections of our forum has less activities. Bit this thread will be helpful for the upcoming traders even if they have their own way there is nothing wrong in learning the new strategies, methods, condition from different members.

LUCKMCFLY

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Leading Crypto Sports Betting & Casino Platform

There is a practice that many do, which is to buy and sell, as they do in localbitcoins.com, they buy low and then sell high, generally this works wonders in countries with inflationary economies, from a point of view of Saving is quite beneficial, because the money in local currency increases as time goes by, sometimes in a day you can earn a lot of money, but you must do the transactions very quickly so that it is not dangerous to lose.

chaser15

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Quote from: ibuddy122505 on October 01, 2020, 12:16:40 PM

Like as yours, I've taken a break for around one years here since the last(2018) cypto crash. Meanwhile, I’ve been learning lot how to trade. Prime part here is trade for yourself but not guided by others.

Don't close the doors to other's suggestions. You don't need to primarily trade thru your self-knowledge most of the time.

Welcome other's input as I think you have the ability know if it's worth following or not. Take their pointers as advice then apply it to your self-knowledge.

OP can consider creating a public room for a purpose of this as I think he's not used to share wisdom via regular posting.

ChrisPop

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Not your Keys, Not your Bitcoins

Nice to see an ex-trader trying to bring value to the community. You own a crypto consultancy company? - Peerly Safe?

You said you're a former bitcoin 'peer-to-peer' trader. I suppose that means you have been mainly trading OTC. How have you fund buyers/sellers? (through platforms like localbitcoins or your network)

abel1337

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Quote from: jostorres on September 26, 2020, 11:58:42 AM

I mostly make use of peer-to-peer for trading cryptocurrency, funny thing is that I have never used a centralized exchange to trade cryptocurrency, not to talk of giving out my information to any of them, it has only been the decentralized exchanges and even most of the people I trade with are people that I know face to face and some over-the-counter business of trading cryptocurrency, and I prefer this method because it makes things more easy for me.

I don’t have to give any information about myself, all I need is just their wallet address and all they need is my bank account number and that’s it. Very simple, I send the crypto and they send the payment; the same thing when I want to buy cryptocurrency.

If I am on your spot, I will think about my safety on peer-to-peer trading of course depending on the amount of deal. I know you are trading with the people you know but sometimes betrayal happens and your life might be in danger because they know you hold such an asset. As I said it will differ on the amount you are dealing with. But it is a good thing that your community does have active bitcoin users and it seems that there are many of them.

o_e_l_e_o

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Quote from: Ucy on October 01, 2020, 11:13:34 AM

Besides, bits of verifiers info will be automatically linked/recorded immutably on the decentralized ID profiles of people they verify for record keeping, just incase rules were broken or for something else

I would still feel very uncomfortable with that set up.

So my documents still have to be uploaded somewhere, and stored on an immutable ledger, meaning that once they are uploaded they can never be deleted. There must also be a mechanism for revealing my details to the other party if they feel I have wronged them in some way. Who oversees this process? There must still be a trusted third party here, or else everyone could just put in a scam report and have my details revealed to them. What if the third party gets it wrong? What if it turns out there is a bug in the encryption or storage process, which means someone manages to breach the entire database?

I'm much happier trading with no KYC at all.

ibuddy122505

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Like as yours, I've taken a break for around one years here since the last(2018) cypto crash. Meanwhile, I’ve been learning lot how to trade. Prime part here is trade for yourself but not guided by others. I've observed the vast majority of people dive into blindly and lose thousands. Money they should have used to learn and get learning materials. Finally, Choose the best platform and increase your Bitcoins!!

MCDev

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According to your recommendation, you are a person with a lot of experience in investing in the cryptocurrency market, can you recommend some tips or tricks for people.
People here are trying to find an investment strategy and are happy to hear about your experience.

Ucy

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Quote from: o_e_l_e_o on September 29, 2020, 10:54:15 AM

Quote from: Ucy on September 29, 2020, 10:25:14 AM

I will probably accept decentralized third-party verifier/verifiers to verify my private info and my identity physically, as long as they are not storing the information in their equipments.

Two problems with this.

First of all, there is no way to know your information is not being stored. If you are sending your details and data to a third party, you have to completely take them on their word that they will delete it after they are done. You need to trust them completely. There is also the possibility of your information being intercepted in transit or accessed by someone other than the intended recipient.

Second of all, I'm not sure what this achieves. KYC on centralized platforms is so they can comply with government regulations, and on decentralized platforms such as this it is seen as a security measure to help prevent scamming. If I verify my identity, and then all record of the verification is wiped, then what has really changed? A CEX can't prove to the government I am who I say I am because all my information has been deleted, and a trader on a DEX can't hand my details to the police if I scam because all my information has been deleted.

Just a one-time ID verification alternative without sending your scanned ID to people on the internet.

The third-party verifiers will meet the ID owners for verification at secure locations and they will simply compare their physical documents with what the owners posted on a decentralized (self-custody) platform.
Unless the verifiers have hidden cameras or robotic eyes (which would be against the rules), I'm not sure how they can have copy of the ID.
Besides, bits of verifiers info will be automatically linked/recorded immutably on the decentralized ID profiles of people they verify for record keeping, just incase rules were broken or for something else

pokeronlinestatus

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My experience with trading Bitcoin peer-to-peer has been good so far. I have only lost my money once and that’s years back when I was still new to everything and I’m happy I didn’t lose much money, just $15. I was still inexperienced back then and tried to do peer-to-peer using the wrong platform and someone who claimed he was legit ended up being a scammer.

But, that’s part of the experience, and it made me wise up and to stop trusting people easily. After that I started being very careful and since then I have not experienced any such thing.

target

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You start fresh again, I think that is the best that you can do. Completely forget the old accounts and acquire an untraceable wallet. Maybe just P2P to someone you personally meet at a meetup conference I guess and then start using the DEX. Though there isn't much trading volume there, the tools around still work for anyone that can trade. The future isn't good for someone who does have millions in BTC while being known.

el kaka22

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Best move anyone can make about this would probably be to have some sort of fall back money aside, that is really important because I see too many people get all in, they not only put all their money involved but I have seen people who saw others do 10x and they literally sell their cars or take out a loan or even as small as spend on their credit card max to get involved.

It is vitally important to not go in with all your money let alone with money you do not have, if you have 1000 aside do not get in with 1000, do not get in with more, just get in with 500 if you can and keep the other 500 aside for what you can do as next move. This is not a straight line so there will be times when it goes up and down and if it goes up you will profit and if it goes down you still have one more move.

AakZaki

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Quote from: Kasabus on September 29, 2020, 02:49:44 PM

Yes. It's nice to hear good people sharing their experiences in trading and giving out their brilliant advices particularly for those newbies in trading. Peer to peer trading is not that easy as it is and it gives me a hard time making profits with it in my first years in trading but i learned to trade on my own which has satisfied me more and hassle free compared to peer to peer trading.

In the beginning, P2P trading was not going to be easy because it required patience and you had to always update the prices offered. trust as a P2P trader must also be considered and that is very important, providing the best service for customers so that they are satisfied and can work together again. As well as being the official P2P trader chosen by Binance I also trade Futures and Spot as my spare time and always hone my technical analytical skills.

Always learn and never give up to get a satisfying result.

glowing10

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I find this forum a very good medium as well to trade. For those who has being part of this forum for couple of years would know some of the trustworthy members and would have made friends as well across forum or in their local section. So, it becomes easy to trade as trust is build or can use escrow service here and the trade is done rather than using exchanges which requires your KYC or so.

Kasabus

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Quote from: Harlot on September 28, 2020, 11:28:38 AM

For a man who have transacted millions of dollars in all forms of payments I think you should be tge one sharing some tips and tricks to the members here since not all have reached your level and everybody here would want to hear what you have some in order to be successful just like you. But if you have any particular questions in mind I'm glad to add in some points if I have a little bit of knowledge regarding what you are asking.

Yes. It's nice to hear good people sharing their experiences in trading and giving out their brilliant advices particularly for those newbies in trading. Peer to peer trading is not that easy as it is and it gives me a hard time making profits with it in my first years in trading but i learned to trade on my own which has satisfied me more and hassle free compared to peer to peer trading.

akram143

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Quote from: o_e_l_e_o on September 27, 2020, 06:20:36 AM

Quote from: akram143 on September 26, 2020, 05:22:46 PM

Recently I tried to trade on Localcryptos where there is no verification needed for registering but found almost every trader asks for one time verification to prove their identity and not using any third party accounts for sending or receiving money even for safe methods like banking payment modes as well.That is why I decided not to trade until I have no other choices.

It is very variable depending on which country you are in, and other trades are obviously going to me more weary if you have a relatively new account or are trying to pay with easily reversed methods such as PayPal. If you are finding the majority of trades are asking for identity verification which you rightly do not wish to provide, then simply open your own offer without such a requirement and wait for someone to take it.

Alternatively, I prefer to use Bisq which has no such issues, as well as being more decentralized than LocalCryptos.

But in my country Bisq nearly have zero trading volume so that is also not a good option right now, especially for the Indians.For now I am okay with localbitcoin even though they need some personal details for their verification but at least I can trade there without letting my identity to random individual on LBC.

o_e_l_e_o

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Quote from: Ucy on September 29, 2020, 10:25:14 AM

I will probably accept decentralized third-party verifier/verifiers to verify my private info and my identity physically, as long as they are not storing the information in their equipments.

Two problems with this.

First of all, there is no way to know your information is not being stored. If you are sending your details and data to a third party, you have to completely take them on their word that they will delete it after they are done. You need to trust them completely. There is also the possibility of your information being intercepted in transit or accessed by someone other than the intended recipient.

Second of all, I'm not sure what this achieves. KYC on centralized platforms is so they can comply with government regulations, and on decentralized platforms such as this it is seen as a security measure to help prevent scamming. If I verify my identity, and then all record of the verification is wiped, then what has really changed? A CEX can't prove to the government I am who I say I am because all my information has been deleted, and a trader on a DEX can't hand my details to the police if I scam because all my information has been deleted.

Ucy

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Quote from: o_e_l_e_o on September 26, 2020, 01:44:06 PM

Quote from: akram143 on September 25, 2020, 12:21:27 PM

Localcryptos claim they doesn't need any documents for trading in their platform but still traders may prefer docs to verify the identity.

LocalCryptos doesn't need any documents for trading on their platform. I use them not infrequently and have never and will never share a document or even my real name with them.

Some traders may ask for identity verification prior to trading, but you are entirely free to not use those traders. Last I read LocalCryptos were trying to implement some sort of secure identity verification system, which would allow users to verify their identity to each other without revealing documents, butbut it obviously still requires a third party to review your documents at some point, so it is far from an ideal solution. They wrote a blog post about it over a year ago, but I've not heard anything since - https://blog.localcryptos.com/preventing-identity-theft-with-optional-id-verification/

I will probably accept decentralized third-party verifier/verifiers to verify my private info and my identity physically, as long as they are not storing the information in their equipments.
I guess the network could simply assign me two to three random verifiers at a neutral and safe location for verification. This is one of few methods of id verification that I think is worth considering.

Harlot

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For a man who have transacted millions of dollars in all forms of payments I think you should be tge one sharing some tips and tricks to the members here since not all have reached your level and everybody here would want to hear what you have some in order to be successful just like you. But if you have any particular questions in mind I'm glad to add in some points if I have a little bit of knowledge regarding what you are asking.

barbara44

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Best advice I can give to anyone who is starting new, restarting again, or have been around for a decade would be to be ready for anything in crypto world.

I have been here for a decade and when defi suddenly jumped and became this billions of dollars worth of thing I was shocked, I wasn't ready for it and I was very surprised as well, defi wasn't a brand new thing when that happened, there was few places that dealt with defi beforehand as well but one day when I woke up something changed in defi world and suddenly they became source for gold. That is why do not really be shocked if anything unexpected happens, maybe tomorrow bitcoin will be 3k and ethereum will be 5k, who knows? Nobody can guarantee you what can happen in crypto, so be ready for everything.

o_e_l_e_o

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Quote from: akram143 on September 26, 2020, 05:22:46 PM

Recently I tried to trade on Localcryptos where there is no verification needed for registering but found almost every trader asks for one time verification to prove their identity and not using any third party accounts for sending or receiving money even for safe methods like banking payment modes as well.That is why I decided not to trade until I have no other choices.

It is very variable depending on which country you are in, and other trades are obviously going to me more weary if you have a relatively new account or are trying to pay with easily reversed methods such as PayPal. If you are finding the majority of trades are asking for identity verification which you rightly do not wish to provide, then simply open your own offer without such a requirement and wait for someone to take it.

Alternatively, I prefer to use Bisq which has no such issues, as well as being more decentralized than LocalCryptos.

akram143

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Quote from: o_e_l_e_o on September 26, 2020, 01:44:06 PM

Quote from: akram143 on September 25, 2020, 12:21:27 PM

Localcryptos claim they doesn't need any documents for trading in their platform but still traders may prefer docs to verify the identity.

LocalCryptos doesn't need any documents for trading on their platform. I use them not infrequently and have never and will never share a document or even my real name with them.

Some traders may ask for identity verification prior to trading, but you are entirely free to not use those traders. Last I read LocalCryptos were trying to implement some sort of secure identity verification system, which would allow users to verify their identity to each other without revealing documents, but it obviously still requires a third party to review your documents at some point, so it is far from an ideal solution. They wrote a blog post about it over a year ago, but I've not heard anything since - https://blog.localcryptos.com/preventing-identity-theft-with-optional-id-verification/

Recently I tried to trade on Localcryptos where there is no verification needed for registering but found almost every trader asks for one time verification to prove their identity and not using any third party accounts for sending or receiving money even for safe methods like banking payment modes as well.That is why I decided not to trade until I have no other choices.

o_e_l_e_o

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Quote from: akram143 on September 25, 2020, 12:21:27 PM

Localcryptos claim they doesn't need any documents for trading in their platform but still traders may prefer docs to verify the identity.

LocalCryptos doesn't need any documents for trading on their platform. I use them not infrequently and have never and will never share a document or even my real name with them.

Some traders may ask for identity verification prior to trading, but you are entirely free to not use those traders. Last I read LocalCryptos were trying to implement some sort of secure identity verification system, which would allow users to verify their identity to each other without revealing documents, but it obviously still requires a third party to review your documents at some point, so it is far from an ideal solution. They wrote a blog post about it over a year ago, but I've not heard anything since - https://blog.localcryptos.com/preventing-identity-theft-with-optional-id-verification/

jostorres

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I mostly make use of peer-to-peer for trading cryptocurrency, funny thing is that I have never used a centralized exchange to trade cryptocurrency, not to talk of giving out my information to any of them, it has only been the decentralized exchanges and even most of the people I trade with are people that I know face to face and some over-the-counter business of trading cryptocurrency, and I prefer this method because it makes things more easy for me.

I don’t have to give any information about myself, all I need is just their wallet address and all they need is my bank account number and that’s it. Very simple, I send the crypto and they send the payment; the same thing when I want to buy cryptocurrency.

akram143

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Peer to peer mode trading changed a lot in the meanwhile period, now almost there is no complete privacy when registering into the exchanges.Localcryptos claim they doesn't need any documents for trading in their platform but still traders may prefer docs to verify the identity.

Ucy

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Quote from: Yogee on September 14, 2020, 10:47:37 PM

Quote from: joniboini on September 14, 2020, 02:31:31 AM

Quote from: Yogee on September 14, 2020, 12:07:36 AM

When we say P2P, it doesn't automatically mean that it's decentralized. Many of us are still confused with this.

I think it's a matter of preference. Some traders probably refers decentralized when they don't have to store KYC and stuff like that when they use the platform. It's not entirely wrong imo, as long as both parties understand what they're trying to do.

It's still wrong and people who think it's the same are still misinformed or uninformed. P2P platforms allows trade between two parties without the exchange interference but that doesn't qualify them as decentralized when their servers are centralized.

These traders who refers an exchange not storing personal information for KYC as DEX probably thinks Yobit as decentralized too hehe.

And Decentralized exchange can also work as peer-to-peer platform. I believe that is the best way to go about peer-to-peer trading Bitcoin/cryptocurrency. That will allow for selfcustody, running of nodes, privacy, decentralized regulation, censorship resistant etc

Paycoinzzz

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Quote from: Eisenhower34 on September 13, 2020, 10:50:28 AM

Hey guys,

I've taken a break for a few years here since going hard trading Bitcoin peer-to-peer. I'm just now coming back and going to get back to spreading the good word and I'm looking to start networking again.

If anyone is interested in sharing tricks, tips, or any kind of advice when it comes to the Bitcoin lifestyle, feel free to reach out via DM. I've transacted well over millions of dollars to direct individuals using all forms of payments over the years. I've lived, learned, and even lost. Let's share stories and laugh, time to catch up!

Even though I was only trading a year ago, I would love to discuss how the market works and how bitcoin does. Do you accept more students? Now I want to learn everything about finance, I'm very interested in it. If you accept it please send me your telegram link, we will chat about your trading experience.

Eisenhower34

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Quote from: RealMalatesta on September 16, 2020, 11:10:32 AM

Trading peer-to-peer for me has always been a pain in the ass lol.
The people I do peer-to-peer trading with usually do rates that are seriously annoying and I will always be at loss after trading.

It took me long until I started to become an OG in the trading game this time around it’s really interesting and I am the one calling the rates now and making huge profits from every trades I make. This time around I sell for a rate that is very high and when I am buying I buy for a very low rate and it is really cool. When you’re still new in this you will find it hard.

That's the American dream, set your own price. Way to go man.

adaseb

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I used to also trade peer-to-peer locally in my city years ago when I first discovered bitcoin and mining and honestly it was very stressful to say the least. I didn't do it to make a profit because I was usually just selling my mining profits, so I sold at the exchange rate with no market up. But the amount of sketchy people you meet was just not worth it.

When Bitcoin ATMs started to hit my city, I was relieved and used those instead. Then there was more and more legit exchanges which you can just do a bank transfer or wire and I've been using those ever since. I always claimed my income and taxes so the high rate of Bitcoin ATMs wasn't really worth it for me. Rather just do a transfer using an legit exchange and not worry about my safety.

RealMalatesta

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Trading peer-to-peer for me has always been a pain in the ass lol.
The people I do peer-to-peer trading with usually do rates that are seriously annoying and I will always be at loss after trading.

It took me long until I started to become an OG in the trading game this time around it’s really interesting and I am the one calling the rates now and making huge profits from every trades I make. This time around I sell for a rate that is very high and when I am buying I buy for a very low rate and it is really cool. When you’re still new in this you will find it hard.

o_e_l_e_o

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Quote from: Eisenhower34 on September 15, 2020, 11:12:09 AM

They only care about maintaining their enormous daily profit 10k+> profit.

I've often said this about all centralized exchanges. Coinbase are quite happy to rat their users out to the IRS provided they are allowed to keep operating and make their obscene half-a-billion-a-year profits. The willingness of people to hand over their private information to complete strangers never ceases to amaze me.

Quote from: Eisenhower34 on September 15, 2020, 11:19:27 AM

Where are our projects with the same ethos as Dark Wallet or developers like Amir Taaki?

Wasabi and Samourai wallets are the two leading privacy orientated wallets at the moment, which both make use of coinjoin like Dark Wallet did. I think much of the more "radical" side of the community have moved to Monero, though.

Eisenhower34

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Quote from: o_e_l_e_o on September 14, 2020, 04:26:47 AM

Quote from: btc_angela on September 13, 2020, 06:01:17 PM

How about another good option which is https://hodlhodl.com/?

I do like hodlhodl, I use it occasionally, and I like the amount of work they have put in to setting up their smart contract escrows. However, as pointed out above, it still runs on a centralized website and so is not as truly decentralized as Bisq is.

Quote from: minairia3 on September 13, 2020, 09:31:44 PM

A lot of scam new projects are lurking on the market.

There are always scam coins and tokens on the market. It used to be ICOs. Then it was IEOs. Now it's yield tokens or whatever. No doubt next year it will be something else for people to lose their money on. And throughout it all, bitcoin remains.

Quote from: joniboini on September 14, 2020, 02:31:31 AM

It's not entirely wrong imo, as long as both parties understand what they're trying to do.

There is a problem with a lot of exchanges using the word "decentralized" as a marketing tool and gimmick, when in reality they are not decentralized at all. Sites like LocalBitcoins and IDEX which claim to be decentralized, and yet users have to deposit coins to their custodial wallets and complete KYC. Complete nonsense.

Thanks for breaking it down. Where are our projects with the same ethos as Dark Wallet or developers like Amir Taaki? I want radical.

Eisenhower34

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Quote from: mk4 on September 13, 2020, 10:55:27 AM

Quote from: Eisenhower34 on September 13, 2020, 10:50:28 AM

If anyone is interested in sharing tricks, tips, or any kind of advice when it comes to the Bitcoin lifestyle, feel free to reach out via DM.

Not sure if you're doing this already, but if you want a Bitcoin lifestyle, you might want to give attention to your privacy by doing things such as mixing and/or CoinJoining your coins through services like WasabiWallet and ChipMixer. https://en.bitcoin.it/wiki/Privacy

I suggest moving this topic to the Bitcoin Discussion section though, as it's probably more fitting there.

Of course =) Real privacy lays in who you cash out with though, always remember. Nerds always get beat by the rubber hose, remember that.

Forgot all about the Bitcoin Discussion section... whoops.

LBC is swarmed by the feds and they cooperate all the time. They use MLAT's (Mutual Legal Assistance Treaties). Even though LBC is slow as fuck, they still respond to the processes. They only care about maintaining their enormous daily profit 10k+> profit. I have accounts that are half a decade old I refuse to use anymore simply because it requires me to enter KYC if I wish to use them.

Those bums should at least give every user a canary and have it disappear when they are ratting them out to the federales. BUMS. I remember when LBC was created they had a backbone.

o_e_l_e_o

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Quote from: Yogee on September 14, 2020, 10:47:37 PM

P2P platforms allows trade between two parties without the exchange interference but that doesn't qualify them as decentralized when their servers are centralized.

Exactly. LocalBitcoins is peer to peer but it isn't decentralized at all. HodlHodl is peer to peer and semi-decentralized, but still has a centralized website which all functions take place on. Bisq is peer to peer and the most decentralized exchange we have at the moment, as each user runs the software on their own computer, but still has a few centralized components (the arbitrators for conflict resolution).

Not requiring KYC, while necessary to be classed as a decentralized exchange, is not sufficient on its own to make an exchange decentralized by any means.

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Quote from: joniboini on September 14, 2020, 02:31:31 AM

Quote from: Yogee on September 14, 2020, 12:07:36 AM

When we say P2P, it doesn't automatically mean that it's decentralized. Many of us are still confused with this.

I think it's a matter of preference. Some traders probably refers decentralized when they don't have to store KYC and stuff like that when they use the platform. It's not entirely wrong imo, as long as both parties understand what they're trying to do.

It's still wrong and people who think it's the same are still misinformed or uninformed. P2P platforms allows trade between two parties without the exchange interference but that doesn't qualify them as decentralized when their servers are centralized.

These traders who refers an exchange not storing personal information for KYC as DEX probably thinks Yobit as decentralized too hehe.

Quote from: o_e_l_e_o on September 14, 2020, 04:26:47 AM

.......
There is a problem with a lot of exchanges using the word "decentralized" as a marketing tool and gimmick, when in reality they are not decentralized at all. Sites like LocalBitcoins and IDEX which claim to be decentralized, and yet users have to deposit coins to their custodial wallets and complete KYC. Complete nonsense.

This!

o_e_l_e_o

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Quote from: btc_angela on September 13, 2020, 06:01:17 PM

How about another good option which is https://hodlhodl.com/?

I do like hodlhodl, I use it occasionally, and I like the amount of work they have put in to setting up their smart contract escrows. However, as pointed out above, it still runs on a centralized website and so is not as truly decentralized as Bisq is.

Quote from: minairia3 on September 13, 2020, 09:31:44 PM

A lot of scam new projects are lurking on the market.

There are always scam coins and tokens on the market. It used to be ICOs. Then it was IEOs. Now it's yield tokens or whatever. No doubt next year it will be something else for people to lose their money on. And throughout it all, bitcoin remains.

Quote from: joniboini on September 14, 2020, 02:31:31 AM

It's not entirely wrong imo, as long as both parties understand what they're trying to do.

There is a problem with a lot of exchanges using the word "decentralized" as a marketing tool and gimmick, when in reality they are not decentralized at all. Sites like LocalBitcoins and IDEX which claim to be decentralized, and yet users have to deposit coins to their custodial wallets and complete KYC. Complete nonsense.

joniboini

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Quote from: Yogee on September 14, 2020, 12:07:36 AM

When we say P2P, it doesn't automatically mean that it's decentralized. Many of us are still confused with this.

I think it's a matter of preference. Some traders probably refers decentralized when they don't have to store KYC and stuff like that when they use the platform. It's not entirely wrong imo, as long as both parties understand what they're trying to do.

Yogee

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Quote from: btc_angela on September 13, 2020, 06:01:17 PM

......
How about another good option which is https://hodlhodl.com/?

It is a platform where users can buy peer to peer but this is not truly decentralized. The servers running hodlhodl.com and LBC are controlled by some few individuals which makes it centralized. Bisq, on the other hand, doesn't run on centralized server as explained by o_e_l_e_o.

When we say P2P, it doesn't automatically mean that it's decentralized. Many of us are still confused with this.

Eisenhower34, I'd like to hear your thoughts on the current market and bitcoin adoption. Compare to your past experiences if possible.

YOSHIE

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Quote from: Eisenhower34 on September 13, 2020, 10:50:28 AM

I've taken a break for a few years here since going hard trading Bitcoin peer-to-peer. I'm just now coming back and going to get back to spreading the good word and I'm looking to start networking again.

It should be you who give us a little experience, tricks, tips that you have learned over the years, We are very happy if you share the story from the beginning so that you can successfully trade Bitcoin in a peer-to-peer way, as you tell today.

Not the other way around, we are here as you can see, only providing information about crypto/Bitcoin in this forum, but it's different from you.
You have real experience in trading, we should hear your story, not our story you want to hear. I think that's better.

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Quote from: Eisenhower34 on September 13, 2020, 10:50:28 AM

If anyone is interested in sharing tricks, tips, or any kind of advice when it comes to the Bitcoin lifestyle, feel free to reach out via DM. I've transacted well over millions of dollars to direct individuals using all forms of payments over the years. I've lived, learned, and even lost. Let's share stories and laugh, time to catch up!

The funnt story is when youre gone a lot of new tech and project emerged aside from bitcoin, and guess what it is now the time of defi and yield farming shit. A lot of scam new projects are lurking on the market. Its look like you need to catch up on this, but better stay on legit one like bitcoin.

Welcome back again.

btc_angela

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Quote from: o_e_l_e_o on September 13, 2020, 01:36:26 PM

[snip]

How about another good option which is https://hodlhodl.com/?

Welcome back @Eisenhower34 trading is not as it used to be, LBC or Paxful for once has implemented KYC already, so just bear that in mind. But there are ways to still hide your privacy like using mixers, wasabi and conjoin. Best of luck.

o_e_l_e_o

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From your other post, looks like you are largely interested in privacy and real decentralized exchanges?

If that's the case, then I would thoroughly recommend Bisq as a place to get started trading with other users again. You download and run the software (open source, obviously) on your own machine, and it connects to other users in a peer-to-peer manner over Tor. Bitcoin trades are made via a timelocked 2-of-2 multi-sig escrow between buyer and seller. There are still centralized "arbitrators" who can step in for conflict resolution in rare cases, but I've never had to use them before. Their wiki is a good place to learn more: https://bisq.wiki/Main_Page

Zero KYC and zero centralized wallets. It's the closest thing to completely peer-to-peer trading that isn't a direct trade with a friend.

mk4

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Quote from: Eisenhower34 on September 13, 2020, 10:50:28 AM

If anyone is interested in sharing tricks, tips, or any kind of advice when it comes to the Bitcoin lifestyle, feel free to reach out via DM.

Not sure if you're doing this already, but if you want a Bitcoin lifestyle, you might want to give attention to your privacy by doing things such as mixing and/or CoinJoining your coins through services like WasabiWallet and ChipMixer. https://en.bitcoin.it/wiki/Privacy

I suggest moving this topic to the Bitcoin Discussion section though, as it's probably more fitting there.

Eisenhower34

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Hey guys,

I've taken a break for a few years here since going hard trading Bitcoin peer-to-peer. I'm just now coming back and going to get back to spreading the good word and I'm looking to start networking again.

If anyone is interested in sharing tricks, tips, or any kind of advice when it comes to the Bitcoin lifestyle, feel free to reach out via DM. I've transacted well over millions of dollars to direct individuals using all forms of payments over the years. I've lived, learned, and even lost. Let's share stories and laugh, time to catch up!

Topic: Trying to share wisdom (Read 483 times)