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Coinbase’s failure would be an unmitigated good for the goals of cryptocurrency. Hopefully after the FTX fiasco, USG will follow PRC with new bans every few mon
by simple-thoughts 4y ago
Coinbase’s failure would be an unmitigated good for the goals of cryptocurrency. Hopefully after the FTX fiasco, USG will follow PRC with new bans every few months. This will force US consumers to learn how to trade p2p similar to their compatriots in the other global power instead of relying on centralized exchanges that are violating the principle not self custody.
- gghhzzgghhzz 4y agoHow can you trade p2p? How do I find someone to sell me bitcoin without an exchange? If I do find someone and I send them some money, then who guarantees that they send the bitcoin? How will day traders deal with the on-chain transaction costs and slow transaction time?
- Jarwain 4y agoThere are p2p exchanges where the role the exchange plays is simply to connect two traders (potentially with an escrow). The exchange itself holds no money. This Does hurt daytraders, who must now wait for transaction verification blocks and such, plus chain transaction costs, plus escrow fees
- simple-thoughts 4y ago>How can you trade p2p? Google it. There’s lots of sites and Reddit has guides. You can use cash in person, bank transfers, Zelle, PayPal, money orders, gift cards and more. >guarantees Just like any normal market. The counter parties have an incentive to be honest to maintain reputation and repeat business. Avoid counter parties that don’t have this incentive >day traders Dex are decent and fast with deep liquidity on both eth and bsc. For lower cost trades, zk proofs. Currently the deepest is dydx.