AML is categorically broken and using a P2P exchange unfortunately doesn't fix that when you need a bank account. View quoted note →

Revolut just for bisq? Same issue?

Why don't you collateralize a loan with Bitcoin? I obviously know that means KYC but it fixes your access to large amounts of dollars without actually selling your Bitcoin.

My local German bank reported „suspicious“ transactions after several trades on bisq. They never talked to me about the transactions instead they went straight to law enforcement. The system is fucked up.

This definitely requires careful consideration. I got one bank account frozen for “many” ins and outs ant took me a while to get it back. Feels like shit. I would say totally aseptic partitions: 1. Different accounts inside of your usual bank: one account for the card, another for receiving and others to talk with other banks you don’t care much about (Revolut or similar, more than one) 2. Try to use the gift cards when possible. 3. Try to build a community of trust people so you can swap for cash and use more cash. 4. Also close nocoiners are useful and gives a bit resilience (“you pay (me) the rent, I’ll pay (you) the food and gas”) 5… anybody say something else…

We don’t talk enough about this 👇 View quoted note →

I always use cash instead of bank accounts. And for contacts and meetups. But I don’t know your situation ofc.

CAN’T BUILD BITCOIN BUSINESSES FAST ENOUGH - HUGE MARKET NEEDS OUT THERE :) View quoted note →

if your bank closes your account for receiving money you should close that bank account, if all banks do the same in your area look to open an account in another área, there are a lot of different options around the world, look on Paraguay, Panamá, el salvador, ...

Presume you’re already using gift cards as much as you can?

You can't use cash for a car or house purchase. You can't pay your bills with cash. You can't be paid by cash at work. Not having a bank account is a major issue.

This is the limit of P2P bitcoin trading. Eventually, getting recurrent or large sums from random bank accounts will get your account flagged. Either your bank will close your account without warning or explanation, or these transactions will be reported to the tax authorities and you will be taxed on the « income ». This is why bitcoin circular economy is crucial to living on a bitcoin standard in a no-KYC way. #privacy #circulareconomy #p2p View quoted note →

This is the major issue with off-ramps and the solution (in my opinion) is to NOT need banks. Off-ramp solutions that allow you to pay directly for your everyday needs (no-KYC of course) is the way forward.