Sad to see Localbitcoins.com closing
Hi,
a few days ago, I received a sad email, that one of the oldest business in crypto, will cease to exist. LocalBitcoins which is a peer-to-peer bitcoin exchange platform, announced that they will close the business and no new sign-ups are available.
For me, it was the first exchange used and also the preferred choice. I did use only the direct in person exchange, where a contact was established and where people would meet in person.
As the IP was blocked in Germany, I had to use it outside the country, mostly in Austria, Swiss and Czech Republic.
Never had any BTC loaded on it, as like it is said, not my keys, not my crypto. It was one of the best experiences, as mostly I picked trades with users with high rating. You know, there are stories with mobsters, people that follow and steal your keys, but by going in only with high rating people, it was always a good business and pleasure.
I think the regulatory pressure, the crypto drop in the past months, and the increased operating cost, made it go bust, or better said, render it unprofitable.
Thank you for your service, LocalBitcoins! You will be missed.
Posted Using LeoFinance Beta
a service like this needs to be decentralized. nostr will fix this :)
Nostr is not more focused on social media? Or am I wrong?
Posted Using LeoFinance Beta
the first and most visible use case for nostr is a twitter alternative, yes. But this is only the tip of the ice berg of possibilities.
Thinking nostr only being social network is like thinking Bitcoin being only for payments ;-)
nostr stands for notes and other stuff transmitted by relays.
Focus for the use case in this thread is the "other stuff".
Can be anything in json format. Like HIVE ;-) but without the need for big bloated nodes as the intelligence is on the client side.
With nostr you can build any platform that has offers and bids. Like localbitcoins. Or ebay. Or uber. Or AirBNB.
Just publish "hey, I want to sell for at " or "hey, I want to sell at for ". Clients get that messages from relays, match them and then set up a meeting. All decentralized and permissionless via nostr. The amazing thing is that all nostr messages are signed and thus you can build a reputation based on rating of former transactions. nostr is the perfect decentralized non-platform to replace greedy middlemen that take a cut just for publishing, matching and reputation.
Please build that decentralized localbitcoins on nostr, so that I don't have to! 😎
How?
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That is pretty sad. I almost feel like that would be as bad as Bitcoin Talk closing up shop or something like that. I haven't visited that forum in a long time. I should check it out again.
Posted Using LeoFinance Beta
That would be even worse, if they would close that forum.
Posted Using LeoFinance Beta
Since it's a forum I doubt that would ever happen. I'm always amazed at some of the forums that are still around from when I was much younger.