I'm looking at vexl, but I dont think it solves the issue of on/off ramps.
The problem remains on how to make payments in fiat that dont raise red flags or cause the accounts to be frozen.
I reckon the solution IS to trust a third-party that disguises as a legit element.
well when trading within your social circles (friends and friends of friends) it does solve the fiat on ramps issue.
we encourage face to face cash trades the unique approach to reputation ensures the trades go safely and smoothly.
if you want to send fiat via wire transfer or sepa that's up to you, but it introduces a risk. vexl is purely p2p no middle man.
it scales, as your network continues to grow you are able to buy bitcoin as easily as a carton of milk, in fact farmers are already selling eggs and milk for bitcoin there, so the circular economy aspect is very strong.
I'm intrigued. I need to learn more about this.
But can you please explain a little more on how does trading multiple times with the same person, even if this person is on your social circle, reduce the risk of banks assuming you are incurring into fraud? The bank doesn't know they are your friends. If I send them 3 payments, that can still be illicit. I have no idea how the banks make that decisions, do you?
Genuine question - Do you know or have an idea of what their algoritms are?
check out this to learn how the WOT works https://blog.vexl.it/understanding-vexl-security-privacy-and-building-a-web-of-trust-867710d4a6fe
and this to learn what p2p with Vexl looks like https://blog.vexl.it/how-to-do-peer-to-peer-trading-on-vexl-6745f3954ae9
