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Bitcoin peer2peer marketplace on a mobile app for the EU market
131 sats \ 14 comments \ @DanielAngelovBG 1 Sep 2022 bitcoin
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10 sats \ 1 reply \ @toofasteddie 1 Sep 2022
Interested. Is it something similar to robosats?
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21 sats \ 0 replies \ @P2P_bitcoin 1 Sep 2022
https://peachbitcoin.com
https://Twitter.com/proofofsteph/status/1565355174599737344 https://nitter.it/proofofsteph/status/1565355174599737344
Peach is in the category of a KYC-Free P2P trading platform. So it's more like HodlHodl, LocalCoinSwap or LocalCryptos, but as a mobile app rather than a website.
I looked at the Telegram messages (link to their Telegram at the bottom of the site), and looks like they have been referring to their app internally as being an MVP (minimally viable product), with onchain only currently (but eventual support for Lightning).
I couldn't really tell for sure, but it appears the escrow transaction is an onchain multisig (2of2) with Peach and the seller. So I suppose what happens then is Peach is custodian of the BTC after seller releases escrow, and then buyer withdraws BTC from Peach. So it's not non-custodial, but I guess the term used is minimally custodial.
The sweet spot for P2P is essentially good liquidity and security:
  • Liquidity means offers can be found at a fair price and for trade amounts commonly needed. Peach limits to 1,000 CHF (~ $1,020 USD) per day. This might limit liquidity as large traders would run into that limit quickly. But it is KYC-Free so I suppose anyone could create multiple accounts if they really wanted to do more trades.
  • Security means the trade completes as agreed. The minimal custody model means both the seller and buyer don't need to trust the platform all that much, even if they were "hacked" or whatever. Because PayPal and Revolut are two of the payment methods, this means reputation / trust history is what the seller will rely on to avoid chargebacks / reversals.
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101 sats \ 7 replies \ @deleted231216 1 Sep 2022
When I read marketplace, it sounded like it would support products/services, like Ebay or Craigslist, instead of only Bitcoin <-> fiat exchanges.
Sepa, PayPal, Revolut, Wise, Amazon gift cards and a few more local options
Out of these, only Amazon gift cards are KYC-free (SEPA/Paypal/Revolut require ID to open an account), unless cash in person or cash by mail is included under "local options".
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100 sats \ 0 replies \ @DeezSats 2 Sep 2022
Working on this
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1 sat \ 5 replies \ @badabing 2 Sep 2022
Buying bitcoin p2p and paying with your Revolut or SEPA can still be buying non-kyc bitcoin. It's not because your fiat funds are kyc that your bitcoin is kyc.
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11 sats \ 4 replies \ @deleted231216 2 Sep 2022
deleted by author
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1 sat \ 3 replies \ @badabing 2 Sep 2022
I think you're confusing kyc and financial inclusion. They are not the same, at least for me.
Kyc-free means no personal information is collected while making a transaction. This is also possible with p2p SEPA or Revolut. Only the two participants know each other.
Financial inclusion should indeed be important, but it's not the same thing as kyc-free. It means everyone should be able to buy smth, with SEPA or cash or...
Allowing people to buy btc p2p via SEPA is kyc-free and inclusive. Same for cash.
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0 sats \ 2 replies \ @deleted231216 2 Sep 2022
deleted by author
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1 sat \ 1 reply \ @badabing 2 Sep 2022
Kyc = a process to verify the identity and other credentials of a financial services user. In a P2P service like Robosats, this process is not done. Meaning there is no kyc.
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0 sats \ 0 replies \ @deleted231216 2 Sep 2022
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21 sats \ 0 replies \ @AGORA 28 Jan
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0 sats \ 0 replies \ @P2P_bitcoin 7 Oct 2022
Here's a later post, found here on SN, with an overview:
Great overview of Peach P2P trading platform (Peach App) 🧵 #78402 https://twitter.com/rapidlab309/status/1577748527421300737 [Nitter]
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0 sats \ 0 replies \ @tomlaies 1 Sep 2022
Most of these projects suffer from not enough users... and no projects gets users when everyone waits for a project getting lots of traffic...
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0 sats \ 0 replies \ @sommerfeld 1 Sep 2022 freebie
Love the idea!
bisq is very nice but has a huge liquidity issue.
There is definitely a market opportunity for a centralized trusted and reputed escrow to run a p2p bitcoin-only orderbook.