How does cash work? Is there some sort of escrow that holds the coins until cash payment is confirmed?
Robosats is great for privacy because it enables peer-to-peer Bitcoin trades without directly linking your identity to the transaction.
However, if you’re using a bank account tied to your real name, privacy is still partially compromised because the bank or counterparty can see your details.
Here’s how you can achieve better privacy with Robosats:
1. Self-host Robosats: For maximum privacy, consider hosting Robosats yourself on StartOS by nostr:npub126ntw5mnermmj0znhjhgdk8lh2af72sm8qfzq48umdlnhaj9kuns3le9ll
2. Use privacy-focused payment methods: Opt for payment methods that don’t expose your identity, like prepaid gift cards, cash, or other pseudonymous options. Avoid traditional bank transfers if privacy is a priority.
3. Use Tor: Robosats works over Tor, which hides your IP address and prevents your activity from being traced back to you.
4. Create a new Robosats identity for each trade: Use the in-app feature to generate a new pseudonym every time you trade, keeping your activity unlinked.
5. Withdraw to a fresh Bitcoin address: After you receive Bitcoin, send it to a new address in your own wallet to avoid linking it to previous transactions.
In short, Robosats offers a solid foundation for private Bitcoin trading, but your privacy also depends on the payment methods you choose, how you withdraw and store your Bitcoin, and whether you self-host for additional control.
Discussion
“The fiat payment method should be able to send and receive instantly because the hodl invoice had an expiration time of 24 hours.
If the timer reaches the expiration, it could trigger a dispute and could lead to a loss of fidelity bond.”
nostr:npub1kdkl4prkt7jmy8cdzdutqv8988vekl93nj4r25zpqpa5uacm9jkqnsjzq5
Photo from the nostr:npub1sqn6rpml88nq8khuvvneuqztfmvalpsarr8grkwy837hzdw63ajs6t5net wiki
Ok, so would this basically just be for face-to-face purchases? Or could it also work for remote transactions?
As I understand it, cash is only for face-to-face purchases.
According to the nostr:npub1kdkl4prkt7jmy8cdzdutqv8988vekl93nj4r25zpqpa5uacm9jkqnsjzq5 website
“Amazon eGift CardsPermalink
Amazon eGift Cards are one of the more private payment methods on RoboSats. They tend to be quick and convenient, but funds must be spent on Amazon.”
That makes sense. I've seen a lot of people using Wise, I guess for the convenience. But that requires KYC so it sorta defeats the purpose. Might as well just use PayPal. Anonymous transactions are getting increasingly difficult.