Excited to see what comes of this. We need more P2P no-KYC exchanges, and the more of them the better.
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We also need good liquidity on them.
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An idea for this...
Split this protocol into 4 roles, then design accordingly, such that the maker declares two things.
  • What is on offer (something fungible + popular, but double-spendable eg. USD, or something non-fungible + unpopular, eg. real-estate).
  • What security guarantees are offered (by the maker) and what is required (by the taker) to execute the trade.
4 Roles
  • BTC-sender-maker
  • BTC-sender-taker
  • BTC-getter-maker
  • BTC-getter-taker
Expect mature clients to abstract this complexity down to 2 (maker/taker).
Then, drive the protocol sequence and optional features based on declarative options and terms set by the maker, using logical defaults if not over-ridden by the maker.
Takers simply let makers compete, and don't have much wiggle room to negotiate. Makers can optionally list choices or flexibility in their terms.
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keen to see stuff like this spring up, with nostr market and civkit also in the mix we could really have a solid circular economy going here
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“The ideal Bitcoin / fiat gateway must be censorship resistant, private, self-custodial, open to collaborative development, and practically usable to the masses, not just to those already deep in the Bitcoin ecosystem. The solution shall become the go-to on-ramp when an existing Bitcoin veteran orange pills a beginner.”
One thing I must add is a deep liquidity pool! One thing that truly lacks in the no-KYC accumulation method is being able to buy $10k to 50k. Most p2p order books can’t handle that sort of volume. If this p2p exchange can fix this problem would be a massive privacy improvement
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This looks amazing! They seem like true Bitcoin Maxis. Much love to this project!
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