Connect with your local Bitcoin community. Soon enough you'll need those contacts if you ever have to sell some non-KYC corn. "source of funds" is becoming a thing and a simple "I mined those sats in...." wont suffice.
"peer-to-peer electronic cash system" enters the room.
💜
Can use Robosats as well
Yes you can. If you don't have a problem in sending or receiving funds to your KYC bank account from strangers it certainly is. Unless their accounts are flagged already for whatever reason and you link your own identity to that unknown person. What could possibly go wrong?
They can block payment in which case you get your sats back from escrow. Yes cash is definitely preferable but I’ve only had this happen once and it was using HodlHodl where the seller was doing large volume so banks were blocking tx. I had many successful tx with him but eventually stopped because the banks kept holding up payment. If it’s wrong to use bitcoin p2p I don’t want to be right 😉
Blocking fiat tx*
best procedure seems to be to keep amounts in the $500 range and use many different platforms
ie use revolut AND wise AND venmo AND whatever
but mostly use cash by mail and IRL meetups
Agree not the best if your trying to do a lot of volume of larger tx size.
Revolut? I literally just closed the account last month when they started to ask stupid questions for MiCa. Like how much my net-worth is, my income, source of investment funds, how much I have in savings etc etc.
I didn't mean Robosats. People are sending money from their bank account to random bank accounts to buy "non-KYC Bitcoin". Every transaction is a paper trail and you don't know who your counterpart is. It could be my Mum, or a terrorist, a cartel member, just another pleb or a sting. You simply don't know but you're establishing a financial link with your counterpart.
Plus, at least here in the EU, cash transaction limits, bank transaction limits (and withdrawal limits) are getting tougher and tougher. It used to be 10k no questions asked. Now it's something stupid like 1-3k. Anything beyond that raises questions.
So yeah having real life contacts and building up that trust with them is important since that takes time and like I said, most of us will need such cash networks rather sooner than later.
💯 I’m not disagreeing having IRL ppl to transact with p2p is the best.
If you go on Craigslist or FB marketplace or whatever and buy a used whatever and send money to their bank account they could also be your mum, a terrorist or a cartel member.
Yeah I didn't think you were. I just stated what I think when it comes to turning clean BTC into dirty fiat.
As for the latter. I don't even shop at Amazon. The few times I did the products were shit. I prefer going to actual stores so I can see and touch stuff before I buy it.
