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A comment on Binance sees $2B in outflows as troubles compound. Parent comment

Re:Binance sees $2B in outflows as troubles compound by matheusmoreira on Wednesday March 29, 2023 @07:07AM (#35355430)
> you can always exchange it peer to peer, without a third-party

Who's going to show up at some untrustworthy place with fat stacks of cash in order to trade crypto?

> as it is initially meant to be used

It was meant to replace the USD for everything including everyday transactions.

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Re:Binance sees $2B in outflows as troubles compound by nibbleshifter on Wednesday March 29, 2023 @10:47AM (#35358055)
> Who's going to show up at some untrustworthy place with fat stacks of cash in order to trade crypto?

Lots of people, actually. Its more common than you would think!

The hardest part is matchmaking and (optionally) escrow.

LocalBitcoin originally did this for IRL but then stopped as they were slapped by a regulator. They were taking a cut from the escrow and acting as a custodial wallet, which made it easy to spank them.

They are now kaput.

There are other, less stupid, platforms that replace them.

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Re:Binance sees $2B in outflows as troubles compound by throw101010 on Wednesday March 29, 2023 @08:39PM (#35366105)
> Who's going to show up at some untrustworthy place with fat stacks of cash in order to trade crypto?

There are ways to transact P2P without meeting in person. Bisq is decentralized example.

> It was meant to replace the USD for everything including everyday transactions.

I did not read this chapter of the Bitcoin whitepaper

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