468 sats \ 0 replies \ @rawbe 9 Oct 2022 freebie
I want to try it soon, thanx 4 this article!
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10 sats \ 5 replies \ @sommerfeld 9 Oct 2022
I've tried it and worked great. The centralized escrow gave me more confidence.
The only issue now is that it has terrible liquidity (maybe due to few users since it's still in closed beta).
Low liquidity on a non-KYC platform always causes prices to acquire a premium making it impossible to buy any sats at less than 5% market price. I've even see sells advertised at 20% above market price.
Maybe there is an opportunity of doing some arbitrage here but those kinds of adventures are not for me.
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361 sats \ 0 replies \ @rapidlab309 10 Oct 2022 freebie
It's true that ATM the liquidity is low, but that's due to the fact that Peach is in beta phase and not yet published for the mass.
Once it will be publicly available to down, I believe it would be the standard.
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5 sats \ 3 replies \ @EatBussy 9 Oct 2022
The liquidity is the biggest problem with all these no-KYC or KYC off ramp options. Good to be able to buy some on occasion but my KYC stack will always be larger.
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0 sats \ 2 replies \ @DeezSats 10 Oct 2022
That is more preference than reality. You can buy/sell the sum of full coins over the period of 2-3 days on bisq and without the fee exchanges charge if you make your own offers. Faster turnaround time than the typically 5 business day (lol) regulatory hold placed on funds on exchanges.
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0 sats \ 1 reply \ @sommerfeld 10 Oct 2022
I've never been able to buy at market price (0%) no matter how long I've waited with an open buy order.
I'm in the EU and have most fiat methods available here enabled (revolut and SEPA).
Are you by any change in the US? I can imagine that maybe there is more liquidity for the ones that can pay with ACH transfers for instance.
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0 sats \ 0 replies \ @DeezSats 10 Oct 2022
I can sell coin at market or get a 1% premium all day long. It costs less than exchange fees. Buy orders don't move until I set -1% or better for the seller. Within the daily price fluctuations and worth it.
And yes, the fiat method is key, because you have to consider the implications to the seller. I can speak for the US only here. Nobody (that knows what they are doing) wants to sell using third party payment processors, now that the feds started surveiling them in 2022, with 1099 tax forms. That includes Strike, Cash app, Venmo, etc. In the US you can still use Zelle, for now, without extortion because it is a bank service and not considered third party.
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1 sat \ 0 replies \ @EatBussy 9 Oct 2022
Looking forward to giving it a try. Was recently experimenting with Robosats and was surprised at the interesting ways you can use it.
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0 sats \ 0 replies \ @UnitOfAccount 10 Oct 2022
I’ve applied for the beta, looking forward to it!
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0 sats \ 2 replies \ @TheBTCManual 10 Oct 2022
Great tutorial, I hope to see more P2P liquidity, on base chain, Lightning and Liquid, we need to get away from exchanges, bitcoiners right now who have access to both can pick up a sweet premium, buying KYC sats and selling it P2P right now and that demand isn't going to slow down thats for sure
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0 sats \ 1 reply \ @DeezSats 10 Oct 2022
The feds will think you have more coin than you actually have. Not an enviable position.
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0 sats \ 0 replies \ @TheBTCManual 11 Oct 2022
That's true, but hopefully, with places that are more bitcoin-friendly and in many countries like my own that are proper shit at tracking these things, it can remain that way.
As long as those premiums exist on P2P and it keeps growing as people want sats around the world, someone will come in and buy it, if you're making 20-30% that's enough margin to replace what you're selling at a later stage so you could have the amount back you bought on KYC, its not as if they are going to track UTXO sets
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0 sats \ 0 replies \ @P2P_bitcoin 10 Oct 2022
See also an earlier post, found here on SN, which shared the Twitter thread from which this article was composed by the same author:
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 \ @faithandcredit 9 Oct 2022
PSA: Selling products and services for BTC is non-kyc and probably less of a grey area?
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