| submitted by /u/gjewells
On the most recent episode of Let's Talk Bitcoin!, the hosts discuss the now-defunct Bitcoin Alert system, devised by Satoshi himself. A rarity in the …
Google Alert – bitcoin
- Censorship resistance
- User control of funds
These are the 3 key reasons why decentralized exchanges are fundamental for Bitcoin to succeed. They are not theoretical risks, but very real threats: We have hundreds of examples of users losing funds after ceding control to a custodial exchange. We have dozen of cases of goverments blocking or regulating exchanges out of existence. And we have an ever increasing number of exchanges being forced or choosing to invade user privacy through KYC, AML and other intrusive (and exclusive) requirements… and then leaking or selling that information.
Bisq is currently the best available option to exchange Bitcoin without sacrificing privacy, ceding control of your bitcoins to a third party or allowing censorship of any kind.
- Bisq is censorship-resistant: it runs over TOR and cannot be shut down or regulated. It is not a company or website, but rather a P2P network similar to BitTorrent or Bitcoin.
- Bisq does not require nor collect your personal information – it is stored locally on your computer and only what is strictly necessary to complete a trade is shared with your counterpart in each trade. There is no central respository of user info.
- Bisq never touches your funds – bitcoins are under your control in your own wallet and only locked up in a multi-sig transaction during the execution of each trade. Fiat funds are sent directly from the buyer to the seller without involving a third party.
If you want to help Bisq grow on September 20th there will be a market Kick-start day to push liquidity. Please post a offer to buy/sell on that day to show your interest.
I recently downloaded the software and I have been very impressed so far. It is quite easy to install and setup.
Now that localbitcoins.com requires ID, this is the easiest way to buy bitcoin anonymously. It's also much less scammy.
Decentralized exchanges are the only way to prevent governments shutdowns and interference. Think BitTorrent for buying and selling Bitcoin.
I highly recommend trying out a small order so that you are familiar with how things work. The volume is quite low at the moment so this would help the network grow.
I am not affiliated with bisq in any way. Just trying to spread awareness that it's out there and that it works great.