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Non-KYC P2P trading platform RoboSats price API, Bitcoin selling 5% or more above spot
25 sats \ 7 comments \ @P2P_bitcoin 14 Mar 2022 bitcoin
The new P2P trading platform, RoboSats, has added the /price endpoint to their API:
https://robosats.onion.moe/api/price/
Here's a snippet of the JSON response that shows the price for USD only:
"USD": {
    "price": 40832.66,
    "volume": 0.00244902,
    "premium": 6.0,
    "timestamp": "2022-03-14T04:43:56.737973Z"
},
That's showing the last "tick", from the most recent trade contract denominated in USD that occurred on the platform. In that example, the bitcoin was sold for the amount of $40,832.66, which reflects about a 5% premium above the BTC/USD market (spot) rate at the time the trade occurred.
This ticker becomes useful to show the value of Non-KYC bitcoin. This price ticker will show buyers consistently paying 5% or more above spot to be able to maintain their financial privacy when trading. For Sellers, this means they are consistently able to receive a 5% or more premium when selling through RoboSats
A post here on SN on RoboSats occurred last month:
Robosats: A P2P Fiat-to-Bitcoin Trading Site with Lightning Support #11785
How-to Guide: https://github.com/Reckless-Satoshi/robosats/blob/main/docs/how-to-use.md
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10 sats \ 1 reply \ @BlokchainB 16 Mar 2022
Can you access this site from an iOS device?
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0 sats \ 0 replies \ @P2P_bitcoin OP 16 Mar 2022
This post was referring to a Price API. Using a Tor2Web service, yes -- you can access that Clearnet URL from a browser on any device.
But if you are referring to the RoboSats service, it requires a browser that works on Tor.
For IOS the Tor Project website has the recommendation to run "Onion Browser" on IOS:
Can I run Tor Browser on an iOS device? https://support.torproject.org/tormobile/tormobile-3/
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6 sats \ 2 replies \ @Majjin 14 Mar 2022
Its pretty common for p2p exchanges with no KYC to trade a little above spot, no?
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1 sat \ 1 reply \ @P2P_bitcoin OP 15 Mar 2022
Indeed.
But 5% is actually a price premium below the level that is commonly found with other No-KYC P2P trading platforms (e.g., on Bisq, where 8% or more above spot can be a more typical price).
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5 sats \ 0 replies \ @Majjin 15 Mar 2022
I'm thinking that this is because lightning payments are much cheaper and faster than sending payments on-chain. So the savings are passed on to the buyer.
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1 sat \ 1 reply \ @P2P_bitcoin OP 14 Mar 2022
Just a caveat on that "website" URL shown.
RoboSats runs on TOR only, and the API endpoint is therefore directly accessed only through TOR as well. The URL for the API provided above uses a Tor2Web service, which is for convenience only and should not be considered secure. It is not recommended that anyone trade using that (or any) Tor2Web service or any Clearnet URL.
For trading, use only a TOR compatible browser and use only the TOR URL (.onion) for the RoboSats platform (which is provided in the README for the RoboSats repo on Github).
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0 sats \ 0 replies \ @P2P_bitcoin OP 26 Mar 2022
Also, there's now a Twitter feed for new offers:
https://twitter.com/robosatsOB
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