Be wary of imitating high-status people who can afford to countersignal

Re:Be wary of imitating high-status people who can afford to... by denton-scratch on Sunday December 11, 2022 @10:38AM (#33944040)

Bitcoin Local offers the opportunity to meet a seller at a physical location. Same with Local Monero. If you're planning to exchange $10M, you'll probably need a couple of bag-carriers, and perhaps some muscle as well.

You can also trade for non-physical "cash", e.g. local bank transfer via escrow. As far as I'm concerned, that's a cash exchange.

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Re:Be wary of imitating high-status people who can afford to... by ycombobreaker on Sunday December 11, 2022 @05:11PM (#33948139)

Won't the usage of escrow trigger a KYC/AML "event" of some sort? That would tie the two parties' identities in a way that a cash evades.

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Re:Be wary of imitating high-status people who can afford to... by denton-scratch on Thursday December 15, 2022 @11:11AM (#34001667)

I think local traders are expected to execute some level of KYC. In my experience (under £1K, online) that's a photo of me, holding my driving licence and a piece of paper syaing "I'm buying X from Y". I've never tried a physical cash trade in person.

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