Best payment method for bisq/robosats
791 sats \ 21 comments \ @layn 14 Nov 2022 bitcoin
What's the best payment method for p2p exchange like bisq or robosats in term of privacy ?
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136 sats \ 2 replies \ @nerd2ninja 14 Nov 2022
Probably cash by mail or money order. The issue is that you get the sellers address but opening a P.O. Box can pseudo resolve that.
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155 sats \ 1 reply \ @P2P_bitcoin 14 Nov 2022
For Bisq, that may work but not for RoboSats:
The fiat payment method should be able to send and receive instantly because the hodl invoice had an expiration time of 24 hours. if the timer reaches the expiration, it could trigger a dispute and could lead to a loss of fidelity bond.
Fiat Best Practices - For both bitcoin buyer and seller https://learn.robosats.com/docs/payment-methods/#for-both-bitcoin-buyer-and-seller
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26 sats \ 0 replies \ @nerd2ninja 14 Nov 2022
Bisq is pretty niceeee
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31 sats \ 1 reply \ @harambe 14 Nov 2022
amazon gift card on robosats
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101 sats \ 0 replies \ @P2P_bitcoin 14 Nov 2022
As a seller, do not accept a giftcard code on the chat. Instead, the seller should provide an email in chat. The buyer should buy a new giftcard explicitly for the trade and have it sent to the email address of the seller. This way the seller knows he is the only one to have access to the redemeable code. This apprach also generates verifiable evidence that the giftcard was bought for the RoboSats trade in case of dispute.
Fiat Best Practices - Amazon eGift Cards https://learn.robosats.com/docs/payment-methods/#amazon-egift-cards
Also, on Bisq there's this:
Amazon eGift card https://bisq.wiki/Amazon_eGift_card
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1 sat \ 0 replies \ @rijndael 14 Nov 2022
CashByMail or Money Order. USPTO money orders can be bought with cash and no ID if you do <$1000 per money order.
Make sure you read the bisq wiki about what to record and how to pack the money/money order to avoid disputes.
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1 sat \ 0 replies \ @satcat 14 Nov 2022
Best privacy is Cash in Person, but not many offers as it's inconvenient. In Canada, the most popular is e-transfer right into your bank account, which should be safe as payment is not reversible and not labeled as Bitcoin.
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1 sat \ 0 replies \ @lv99_slacker 14 Nov 2022
Been using Strike for Robosats.
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1 sat \ 10 replies \ @patrick 14 Nov 2022
Strike is definitely the most convenient. It's "private" in that there is no on-chain connection between your p2p USD payment and the btc you receive.
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1 sat \ 9 replies \ @nerd2ninja 14 Nov 2022
There does not seem to be much privacy with this method...At least, it would have the same privacy as using cash app or paypal or zelle or any of these other dollar based centralized kyc payment methods.
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1 sat \ 8 replies \ @patrick 14 Nov 2022
I agree that it's just as private as those methods. I'm talking about on-chain privacy. Your p2p payment will have no connection to any on-chain funds.
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16 sats \ 7 replies \ @shyfire 14 Nov 2022
Unless the recipient is a fed that has root level access to strike's database. They will then be able to link it on their side. This is the main attack vector for using something like Strike / Cash app that somewhat doxxes your identity when making payments.
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1 sat \ 3 replies \ @patrick 14 Nov 2022
Even with root level access to their DB you wouldn't have access to the on-chain TX. Robosats is done using lightning HTLCs and hodl invoices and it's impossible to use strike for the actual BTC part of the transaction on robosats.
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1 sat \ 2 replies \ @shyfire 14 Nov 2022
Right, but you'd know that person X bought Y amount of BTC because that was the trade on robosats and you'd have proof of the payment and terms from both robosats and strike/whatever.
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31 sats \ 1 reply \ @patrick 14 Nov 2022
Seems unlikely to me that the IRS would go through this much effort to track robosats purchases at this point.
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31 sats \ 0 replies \ @shyfire 14 Nov 2022
Yeah true, they had to hire 87,000 people just to process status quo returns, nevermind hang out on niche p2p markets.
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1 sat \ 2 replies \ @nerd2ninja 14 Nov 2022
You could have just stuck with like warrant or court order or something lol
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1 sat \ 1 reply \ @shyfire 14 Nov 2022
Yeah, realistically they probably don't have the time to hang out on robosats to link people buying P2P to their real world identities...
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1 sat \ 0 replies \ @nerd2ninja 14 Nov 2022
It would not be difficult to make a program that did that work for you. Just a matter of what they might be willing to fund.
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0 sats \ 0 replies \ @cointastical 10 Dec 2022
There may be useful comments from the following post, found here on SN:
Robosats fiat payment methods #104895
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0 sats \ 0 replies \ @criptopanas 15 Nov 2022
Well, it depends on your location.
The main point is to use a method that can not be canceled as paypal.
Revolut is becoming very popular in Europe.
If you live in a big city, face to face in a public place or in a Casino is a good option.
Cheers
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