@P2P_bitcoin

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An executive order signed on April 5, 1933, by US President Franklin D. Roosevelt 'forbidding the hoarding of gold coin, gold bullion, and gold certificates within the continental United States.'

Executive Order 6102 https://en.wikipedia.org/wiki/Executive_Order_6102

What is surprising is that to-date, there's still no solution for non-custodial P2P trading using Lightning network ⚡.

Paxful supports LN but they require KYC, and also customer accounts are held in a custodial wallet. Additionally, Paxful charges a fee (1%) when withdrawing on Lightning network (which is on-top of trading fees).

A P2P bitcoin trading platform is pretty much just four things:

  • Permits advertising of customer's Buy and Sell offers
  • Escrows the seller's bitcoin when the offer is opened
  • Dispute resolution when necessary (e.g., buyer claims to have paid, seller says payment not received)
  • Trust history for buyers and sellers (e.g., "ratings", and transaction count & trade volume metrics)

Where there is a mismatch between existing non-custodial P2P bitcoin trading platforms and a LN-enabled one has to do with the Escrow method. The on-chain non-custodial P2P platforms (e.g., Bisq, HodlHodl, LocalCoinSwap, LocalCryptos, etc.) employ multisig contracts as the method for providing "escrow", where the P2P platform has one of the three keys (with the buyer having one, and the seller having one). In a normal scenario, seller releases the escrow so the transaction has two signatures, satisfying the 2-of-3 multisig contract. If there is a dispute, then the P2P platform's key is the second key used to either release the escrow to the buyer, or to return the escrow to the seller.

I'll have to re-watch this video, but I couldn't really tell if what Synonym is providing is something that can be used as a tool for building, or if their app(s) are using the framework (OmnitBolt) that is the same framework someone building this LN-enabled P2P platform I describe would also need to use when building.

Custodial escrow services have a notorious history of launching, operating until there's a fair amount of customers (and customer balances), then disappearing.

Why would LightningEscrow be any different?

Spoiler:

Launching Soon. Enter your email to receive updates and to notified when we launch!

(Optionally, click the icon for a specific P2P platform to filter offers that are for just that one P2P platform. There's then a green button for "Undo" to reset the filter.)

The P2P platforms for which Yadio shows offers :

There are many other P2P platforms than just these five:

Person-to-Person bitcoin Trading Exchanges https://github.com/cointastical/P2P-Trading-Exchanges

How to use:

  • Choose Country ("Pin" icon) -> [Country]
  • Choose Currency Pair ([fiat] -> BTC, or BTC -> [fiat])

And it will show the offers (ordered by best price first) across multiple P2P trading platforms!!

GENISIS