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1 sat \ 5 replies \ @StackerKnacker 17 Nov 2023 freebie \ on: How I orange pill people around me bitcoin
Hey man , I don't know what your situtation is , but get your sats off Binance as quick as you can . You wan't to get yourself a cold-storage wallet like a Coldcard or a Blockstream Jade.
I'm not trying to spook you man , but if you have 30,000 sats with a custodian like Binance , then all you really have is a promise. Not your keys , not your coins .
Sorry , actually , my bad , I read that wrong , your friends are keeping their corn on Binance , not you . Lucky they have somebody who is in the know to make sure that they don't continue with that type of thing .
Personally , I think that you are better off not buying from exchanges at all , because of the KYC implecations of having your identity tied to all of your UTXO's for now until the end of time , but if it is the only way that you can get your hands on some Bitcoin , then buy it and move it to keys that you own iMMEDIATELY after buying it .
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Exchange is only way to acquire with local currency
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I hadn't considered your local currency , apologies. Have you checked for options like Robosats and Bisq ?
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Never. I must check it out
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Yeah man, Robosats is a great way to buy some lightning non-kyc , no exchange. There is a little bit more work involved in using it .
You need a little bit of lightning to get started making trades, but you are on stacker news , so you might already have some lightning.
You can make your own trade, pick the currency, select the payment method for that currency, choose the premium and a whole lot of other options . Then you lock a little bit of lightning as "collateral" (it's to stop people making bullshit trades, you lose the collateral if you cancel the trade for no reason, but not if the trade times-out) .
If somebody likes your trade, they lock the lightning into esgrow (meaning Robosats has it in the middle, don't ask me how it works , but I'm sure it's all very technical) , and then when it is confirmed that you have paid the fiat to the person , or whatever the payment method may be , then the lightning is unlocked for you , and the trade is complete. All of this can be done through , tor , and everything is encrypted from start to finish , and the best thing is : NO KYC , you never give your information away to anyone along the way. It's cyberpunk af man , go check it out .
Bisq is pretty much the same , but with a higher learning curve, on-chain only the last time that I looked at it .
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