The seller is exchanging nokyc bitcoin. The government doesnt know he has it.
There’s also no link between the exchange of fiat and the reception of nokyc bitcoin 🤷🏾♂️
Discussion
But here is a little trust involved. You have to trust the seller that he sells nokyc coins. That he managed his utxos right and did not mix nokyc and kyc. And many more variables possible.
The best solution for me is buying amazon cards with cash and using it on robosats to buy bitcoin with that amazon card by posting the redeem code in the robosats buyer/seller chat.
No matter what mistake the seller made, the link to me is broken as he does not know who he got money from.
Drawback is that there is not much liquidity with amazon cards. So it can happen that you need a few days to find a seller.
I’m noy sure I get your first point. Let’s say the seller mixed nokyc and kyc, how is it linked to my identity?
*not sure
I mean you can't be sure that the seller is an OG Bitcoiner with high end privacy skills.
With mixing I meant that maybe the seller bought some no kyc coin and at some point he moved them to his main wallet where his kyc coin are on. No one knows what comes but when the financial institute want to see the pubkey, they will notice that other bitcoin except of his mentioned kyc coin are on it. So they then want to know where these are.
Then he says he sold on bisq and shows them his bank account where your name stand on the bank transfer.
I hope it is understandable. And I mean there are many manyb more possibikities.
But maybe I'm just too paranoid 😅
I get your point. I still don’t see how the financial transaction is linked to the exchange of utxos 🤷🏾♂️
this is why Vexl exists! p2p local without KYC in your web of trust.
Could you please explain a little bit what makes Vexl special against services like Bisq and Robosats?
With p2p local you mean that you meet in person to buy or sell bitcoin?
If yes, I think meeting in person at this time of bitcoins lifetime is not ideal.
Numbers can still go up a lot. So not good if someone knows my face and even when I mask myself there is a risk that you will get beaten and forced to hand out your seed if you want to keep your knee caps undrilled.
:D
But I'm really curious to hear about Vexl. Maybe I have a wrong understanding of its USP.
Sorry for my delay in seeing this!
Vexl is different because of the reputation model.
You’re not meeting strangers, you’re meeting friends and friends of friends, when I see an offer on Vexl I see how many friends i have in common with the person making the offer.
That is the reputation. If I have 25 friends in common, well I can be certain that that trade is going to go well as we have just so many mutual friends.
If I have 3-4 friends in common, well I would approach it differently if I was making a larger bitcoin buy/sell.
I would say something like “hey I see we both have Bob as a friend, I know Bob well he’s one of my friends from university before I meet you can we both shoot Bob a message and if he says that you’re cool to trade with then let’s do this damn thing”
So even I don’t need to know your name, just if Bob says yes I’m ok to meet.
When you trade based on real world reputation you lower the risk, because if you screw me over well I’m certainly gonna let Bob know that, which damages your reputation.