608 sats \ 3 replies \ @IainCheyne 9 Feb 2023
It was an OK service, but Robosats is streets ahead.
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48 sats \ 0 replies \ @kr 9 Feb 2023
this is the only other time i’ve heard someone say streets ahead, thank you for bringing it back.
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25 sats \ 1 reply \ @AJ1992 9 Feb 2023
Eh, there's no urgency on robosats and too many bugs still. On localcryptos or localcoinswap the "online" status is actually accurate and trades can be completed within 5-10 mins, not 8 hours v
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186 sats \ 0 replies \ @P2P_bitcoin 9 Feb 2023
LocalCryptos is dead, Jim.
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434 sats \ 2 replies \ @P2P_bitcoin 9 Feb 2023
Paxful drank their milk shake!
.
LocalBitcoins global volume
Source: https://coin.dance/volume/localbitcoins
.
Paxful global volume
Source: https://coin.dance/volume/paxful
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1 sat \ 1 reply \ @P2P_bitcoin 9 Feb 2023
Actually, it was more likely that the introduction of more (and better) options for fiat on- and off-ramps (e.g., centralized exchanges expanding globally) that had displaced the need to do P2P trading for many.
LocalBitcoins was the first exchange for many bitcoin OGs -- especially for those in countries where there was no bitcoin exchanges. At some point LocalBitcoins required Identity verification / KYC, and they then lost a ton of traders at that period of time to Paxful. Paxful then later also began to require Identity verification / KYC. And though Paxful lost a number of privacy-conscious traders too, they managed to increase and hold (until this past year) their greater trading volumes.
Today, there's simply a lot more competition as well with other competing P2P trading platforms.
Person-to-Person bitcoin Trading Platforms
https://cointastical.github.io/P2P-Trading-Exchanges/
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26 sats \ 0 replies \ @satcat 9 Feb 2023
Yup, they failed to keep up with Lightning and instead bent the knee to KYC, good riddance
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303 sats \ 0 replies \ @1fatmess 9 Feb 2023
We need DEX relays on Nostr. ASAP.
That is all.
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32 sats \ 0 replies \ @Zepasta 9 Feb 2023
They required KYC. Won't miss them.
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29 sats \ 1 reply \ @nikotsla 9 Feb 2023
O.O ups, "ongoing very cold crypto-winter" is this the real motive?
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26 sats \ 0 replies \ @Wumbo 9 Feb 2023
I was thinking the same thing. I am guessing there is something else besides "crypto-winter" pressuring them.
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26 sats \ 0 replies \ @Wumbo 9 Feb 2023
Tip of the Hat to them for: " You have 12 months to withdraw, however of course we encourage you to proceed withdrawing sooner. "
Very professional of them.
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25 sats \ 4 replies \ @AJ1992 9 Feb 2023
Good riddance. Localcryptos and localcoinswap were always the better options anyway.
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1 sat \ 2 replies \ @P2P_bitcoin 9 Feb 2023
LocalCryptos shut down a few months ago.
And LocalCoinSwap recently went non-custodial for all wallets / trades.
The beneficiaries of LocalBitcoins' exit will be Robosats (due to using LN), Bisq, LocalCoinSwap, and Peach (though Peach is still in closed beta).
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25 sats \ 0 replies \ @akakush19 10 Feb 2023
Peach going OPEN beta early March! :)
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25 sats \ 0 replies \ @AJ1992 9 Feb 2023
Wow, missed that about Localcryptos... I was using them when they were still localethereum and eth gas was no more than 5 cents USD in a block within 60 seconds. I did get the email from localcoinswap recently about finally going fully non-custodial.. their custodial withdrawl fee for on chain BTC was ridiculously high, like 6k sats.
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0 sats \ 0 replies \ @shyfire 9 Feb 2023
Robosats!
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0 sats \ 0 replies \ @Lordyfish 10 Feb 2023
This one hits home for me. Without LBC in China I may have never become a Bitcoiner
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0 sats \ 0 replies \ @TheBTCManual 10 Feb 2023
I wonder who will buy this domain and redirect it to an exchange or a p2P service, should be well worth the investment in bagging all that redirected traffic
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0 sats \ 0 replies \ @eduardopro 10 Feb 2023
I loved LocalBitcoins at some point, but then they went all KYC on me.
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0 sats \ 0 replies \ @cryptocoin 9 Feb 2023
See also another post, found here on SN, with an article in CoinDesk on this topic:
LocalBitcoins to Close, Citing Market Conditions
#133669
https://www.coindesk.com/business/2023/02/09/bitcoin-exchange-localbitcoins-to-close-citing-market-conditions [Archive]
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0 sats \ 3 replies \ @kristapsk 9 Feb 2023
Fortunatelly, there are better alternatives nowadays - HodlHodl for onchain and RoboSats for lightning.
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21 sats \ 1 reply \ @Zepasta 9 Feb 2023
Robosats works for on-chain aswell.
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0 sats \ 0 replies \ @kristapsk 9 Feb 2023
Only for buyer of BTC (using submarine swaps) not seller I think?
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0 sats \ 0 replies \ @thrown 9 Feb 2023
Does Robosats have an escrow yet?
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0 sats \ 0 replies \ @TNStacker 9 Feb 2023
Decrypt article -
https://decrypt.co/120933/localbitcoins-shut-down-10-years-operation
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0 sats \ 0 replies \ @joyepzion 9 Feb 2023
Were they not able to check up with the market growths - both bullish and bearish times? It was one of the first places I was advised to buy bitcoin on. Goodbye to first beginnings.
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