171 sats \ 4 replies \ @faithandcredit 15 Sep 2022 \ on: Winnipeg man held at gunpoint, assaulted, tied up during Bitcoin transaction bitcoin
i wonder what made the man take this kind of risks. was he offered bitcoin at 20% discount?
Should have just gone on Robosats
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Based robosats
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There is an In-person cash/F2F payment method of RoboSats, but there's no geographic filtering, making it essentially unusable for P2P trading with cash.
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In-person, face-to-face trading of bitcoin with cash is done all over the world.
There are simple precautions to take that will essentially minimize any risk of physical security and loss of funds.
This person found a counterparty via "social media". Ok, ... but that's a high risk transaction. You don't have any trust history about the "seller". At a minimum the buyer should have insisted on an escrow of the seller's bitcoin, like all P2P bitcoin trading platforms offer. Scammers and fraudsters love Telegram, Whatsapp, Facebook, Craigslist etc. because it is easy to find a gullible mark who will do something like bring a bunch of cash to meet a stranger in a high school parking lot and actually then get into the scammer's car!!
Here's are some resources for P2P trading:
Tips for local transactions
https://bitcointalk.org/index.php?topic=137272
Conduct your in-person transactions safely at your local police station
http://www.safetradestations.com
Guide and General Rules for P2P Cash Trading
https://www.binance.com/en/support/faq/0bec3bb9292241e99c20136a4d3dbfe6 <-- Tips applicable to in-person cash trading with any P2P platform
But there are bad people out there regardless. Here's a list of attacks, though few of which are related to P2P trading:
Known Physical Bitcoin Attacks
https://github.com/jlopp/physical-bitcoin-attacks/blob/master/README.md
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