DeepOnion Prijs

Onion routing fiat payments to buy bitcoin

<!-- SC_OFF --><div class="md"><p>I live in a country where Bitcoin exchanges are not permitted. Most people buy binance P2P, but then binance may get banned too, and most transactions on binance are bank routed anyways. </p> <p>I was thinking, what if there was a way to use Tor concepts in real life face to face exchanges. E g. a person stakes some Bitcoin on some decentralized escrow protocol, and then volunteers to onion route cash for facilitating Bitcoin sales.</p> <p>When A wants to buy Bitcoin from D on bisq or lightning, the Bitcoin part is all secure, but the face to face cash part is difficult, and risky. In this mechanism, if there is an App that finds a random, obfuscated route between A and D, lets say involving B and C. App then tells A to give cash to B, without disclosing it is for D. Then app tells B and deliver it to C. All the while, like lightning, B and C getting a commission for this routing. And money they are moving is always less than the Bitcoin they have staked. Eventually it reaches D and transaction is committed on bisq or lightnig.</p> <p>The major benefit over A meeting directly with D is when government wants to prevent people from transacting in Bitcoin, and is actively seeking to stop such transactions and/or arrest the people involved, or simply to be able to identify and track them, for harassment and fear ongering. But in this approach, the physical exchanges are also obfuscated ad hidden from trackability.</p> <p>Does anybody see this possible, and of value? Can it be another step to full censorship resistance?</p> </div><!-- SC_ON -->   submitted by   <a href="https://www.reddit.com/user/AsifShiraz99"> /u/AsifShiraz99 </a> <br/> <span><a href="https://www.reddit.com/r/Bitcoin/comments/s59d37/onion_routing_fiat_payments_to_buy_bitcoin/">[link]</a></span>   <span><a href="https://www.reddit.com/r/Bitcoin/comments/s59d37/onion_routing_fiat_payments_to_buy_bitcoin/">[comments]</a></span>