Currencies Used On Robosats \ stacker news ~bitcoin

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781 sats \ 47 comments \ @siggy47 18 Mar bitcoin

I'm not sure if this has any real value, but what the heck? I'll post it anyway. Since I am now on Robosats daily, I have been keeping notes on various stuff I observe. Today, for the first time, I saw offers in two currencies I had never seen before, The Ghanaian Cedis and Romanian Leu. So I figured I would post the whole list of currencies I have seen on Robosats to date:

EUR Euro USD Dollar BRL Brazilian Real GDP British Pound AUD Australian Dollar CAD Canadian Dollar RUB Russian Ruble COP Columbian Peso VES Venezuelan Bolivar PAB Panamanian Balboa MXN Mexican Pesos HUF Hungarian Forints ARS Argentine Peso ZAR South African Rand PEN Peruvian sol JPY Japanese Yen CHF Swiss Franc PLN Polish Zlotych KRW South Korean Won GHS Ghanaian Cedis RON Romanian Leu

My general impression is that the most used currency is the euro, followed closely by the us dollar and brazilian real.

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97 sats \ 17 replies \ @jasonb 18 Mar

I’ve thought of accepting different currencies as a seller with the Amazon gift cards to see if I could use them but always decided against it as that would be a bummer of a loss if it turned out that I couldn’t…

50 sats \ 16 replies \ @siggy47 OP 18 Mar

I'm not sure how that would work. I only use Amazon cards. Things are getting a little weird locally, though. One of the big drug store chains are putting a limit (under $200usd) on cash purchases without producing an ID. Makes no sense.

57 sats \ 11 replies \ @SwapMarket 18 Mar

How do they explain it? If you split your purchase in parts below $200 each, will they also deny? I insist on paying cash wherever I can, just out of principle.

0 sats \ 10 replies \ @siggy47 OP 18 Mar

I asked why. The guy said because of fraud. I asked if the card was fraudulent. He said of course not. I said so are you afraid I will commit fraud? He said yes. I said how. He said he didn't know, but those are the rules.

54 sats \ 0 replies \ @stack_harder 19 Mar

gift cards have been a go-to for criminals since forever https://www.cbc.ca/news/gopublic/go-public-gift-cards-theft-organized-crime-1.7475283

so capping them is probably just a blanket liability thing

36 sats \ 8 replies \ @SwapMarket 18 Mar

Ah, you are going to a drug store to buy physical Amazon gift cards for cash? Got it.

121 sats \ 7 replies \ @siggy47 OP 18 Mar

Yes. Ecards kind of defeat the whole purpose, IMO

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41 sats \ 0 replies \ @SimpleStacker 18 Mar

I think there may be people mass buying gift cards for one reason or another.

Last time I walked into a Best Buy to get a Steam gift card for someone's birthday... and they were totally sold out. I asked about it and the employee said someone comes in every time they stock the gift cards and just buys 'em all out.

36 sats \ 1 reply \ @jasonb 18 Mar

I was mostly thinking of using them online.

Re: drugstores - That’s some dystopian type stuff…

0 sats \ 0 replies \ @siggy47 OP 18 Mar

I'm going old school resistance money😀

36 sats \ 0 replies \ @stack_harder 19 Mar

im always surprised by how few gbp offers there are on there

66 sats \ 4 replies \ @DarthCoin 18 Mar

I should make an offer in Pink Shells

36 sats \ 2 replies \ @SimpleStacker 18 Mar

Try making an offer with monopoly money

66 sats \ 1 reply \ @DarthCoin 18 Mar

wait... is not the same with USD (aka federal notes, aka simply promissory notes / debt) ? In my case, pink shells are REAL money not like federal notes. btw... federal notes are not money... but people are going away with that, without knowing it...

36 sats \ 0 replies \ @SimpleStacker 18 Mar

Exactly, so offer them monopoly money. It's the same as USD anyway

21 sats \ 0 replies \ @siggy47 OP 18 Mar

https://nakamotoinstitute.org/library/shelling-out/

66 sats \ 1 reply \ @cryotosensei 18 Mar

My currency still hasn’t made it to the ranking board yet haha

0 sats \ 0 replies \ @SimpleStacker 18 Mar

How's the bitcoin community in Singapore? Do you come across a good number of Bitcoiners?

36 sats \ 0 replies \ @flat24 18 Mar

I love robosats because you find merchants who use XMR When I use Fiat currency. I always find more liquidity available on LNP2Pbot

36 sats \ 1 reply \ @kurszusz 18 Mar

A stupid question from my side... what are "Robosats"? :)

10 sats \ 0 replies \ @siggy47 OP 18 Mar

https://blockdyor.com/robosats/

36 sats \ 4 replies \ @SpaceHodler 18 Mar

I didn't know the GBP was that common on there.

I think of the UK populace as one that's not particularly interested in freedom. That said, I dispose of my GBP on Kraken myself, because I don't want to lose my bank accounts and because of the low liquidity on Robosats.

I've bought corn on some no-KYC Swiss exchanges via SEPA transfers, but those still reveal the name and registered address on the depositor's bank account. The same is true with Robosats, it's just that the entity that sees the account details is the peer, which can be different each time.

30 sats \ 2 replies \ @teemupleb 19 Mar

You can also use fiat payment methods that don’t reveal your full name or address.

You can set e.g. Revolut to only show your first name and the first letter of your last name.

0 sats \ 1 reply \ @SpaceHodler 19 Mar

That's good to know, but I've heard Revolut sometimes closes the accounts of customers trading p2p. I don't want to lose my Revolut (or Wise) account, I get some fiat freelancing income in those from overseas clients, which with a traditional bank account would be more costly.

10 sats \ 0 replies \ @teemupleb 19 Mar

Yeah I guess the key is to have many Revolut-like neobank bank cards in case you get debanked

20 sats \ 0 replies \ @siggy47 OP 18 Mar

Yeah, I would say it's number 4. I didn't rank them or keep specific track of each currency. Considering that robosats is low volume to begin with, it's fair to say there isn't a very liquid market in pounds!

36 sats \ 3 replies \ @settebello 18 Mar

Can you also explain to me how come people dont ask for Gift Card anymore and are all mainly transfers using SEPA/WISE/E Transfert?

Doesnt this dox the parties?

5 sats \ 0 replies \ @Bishop 18 Mar

The seller discloses his bank details to the buyer. This information would only revealed to the order host if a dispute is raised.

0 sats \ 0 replies \ @SwapMarket 18 Mar

The worst is, that frequent p2p payments are frown upon by banks and are considered undeclared income in some countries.

0 sats \ 0 replies \ @siggy47 OP 18 Mar

I think so. That's my point

36 sats \ 0 replies \ @TheBTCManual 18 Mar

Damn no Wampum BTC pairs?

36 sats \ 5 replies \ @LibertasBR 18 Mar

This allows us to see how people in each country are adopting Bitcoin via P2P. Although it is not an exact number, many will end up using dollars for purchases. Is it possible to know the amount of money that is being transferred?

100 sats \ 4 replies \ @siggy47 OP 18 Mar

I don't think so, by design. You can see the fiat amount of buy and sell offers, but you have no way of knowing if the transaction took place or expired.

36 sats \ 3 replies \ @optimism 18 Mar

Expired we can check by snapshot. I have some draft code for that but like we discussed before, i don't wanna publish chainalysis for robosats just yet so I'm taking it super slow, getting a feeling for what's what.

We can't tell if it were cancelled though.

100 sats \ 2 replies \ @siggy47 OP 18 Mar

Great! I really like your project. I wish there was more trading volume. As it grows your data will become more and more valuable.

157 sats \ 1 reply \ @optimism 18 Mar

Yes. The spreads are very wide right now because order volume is low. I am trying to introduce local people here (I'm very much outside of the major political blocs right now, you know, the kind of country that gets rekt with USD debt) that are currently depending on USDT to be banked to at least not save in USDT and do some trades over robosats to securely hedge some of their longer-term fiat holdings - but even though thats a relative easy pitch conceptually, it is becoming kind of a hard sell when people have no concept of lightning.

Currently contemplating organizing a workshop a la bitcoin beach

100 sats \ 0 replies \ @siggy47 OP 18 Mar

That sounds like a worthwhile plan.

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0 sats \ 0 replies \ @Butterfinger 18 Mar

It's very curious how brazilian real is used a lot, not a rich country like europeans or the usa but yeah with a lot of financial repression. But still why brazil and not as much argentina or venezuela. Another curiosity is China, is it culture censorship or a mix of other things that make chinese people not interested in bitcoin?

0 sats \ 1 reply \ @Satosora 18 Mar

I dont use robosats, but do they convert all the currencies to bitcoin, or a common currency?

0 sats \ 0 replies \ @Rexdentron 18 Mar

You can post an offer that let you input any currency you want (realistically fiat or gift card)