New to P2P markets, I have some questions

I've been buying Bitcoin via centralized exchanges and transfering directly to my hardware wallet but according to some of these CEXes it is now a requirement to make a video of MY personal wallet/holdings to prove ownership (or some bullshit) in my country before they'll let me transfer funds from my bank. To me this comes across as a poor attempt to do KYC, which I hate with a passion.

I'm new however to P2P alternatives and I have some questions that maybe some of you are willing to answer.

1. When I initiate a trade on an app like Bisq where I am the buyer my understanding is that I have to transfer funds to the seller (through various payment methods). The seller then has to confirm that the funds were received, after which a multisig transfer of Bitcoin will be initiated by Bisq.

What happens though if the seller does not confirm the arrival of my funds? Will there be any recourse for me to get my funds back, or do I simply have to trust the seller?

I know the same can be said about centralized exchanges in the sense that I have to trust them with my money (albeit temporarily) but I am wondering if maybe there is a way on the protocol level to have some sort of middleman/smart contract type functionality that still allows for fiat -> crypto conversions.

1. I know nobody can answer this with 100% certainty, but how likely do you think it is that Bitcoin that was obtained outside of KYC-enabled environments will be somehow marked as such and could in the future (if/when we have mass adoption) be rejected by retailers/institutions we depend upon? (e.g. for day-to-day needs)

For example, when retailers I depend upon for my day-to-day needs accept Bitcoin through some third-party (I think this could be enforced by governments, sneak in through misinformation, etc) and this third-party would only allow for coins that have been obtained via CEXes with KYC, they would theoretically be able to reject my payment because I have obtained my coins outside of KYC enabled environments.. right?

Thanks.

submitted by /u/arveus
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Gregg Foss: Bitcoin Is Worth $2 Million In Today’s Dollars

Gregg Foss: Bitcoin Is Worth $2 Million In Today’s Dollars He's said it many times, and said it again at Bitcoin Amsterdam. What do you think?

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Bitcoin is reeeealy volatile

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Let's try

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A little history lesson to emphasize the importance of self sovereignty through bitcoin.

TLDR ; the government finessed the people (surprise) with a huge transfer of wealth by not allowing people to possess large amounts of gold(be there own banks) and confiscating it all, then by proclamation increasing the value by roughly 75%, profiting handsomely and devaluing the dollars they exchanged to citizens for it in the process

Executive Order 6102 required all persons with more than 100$ equivalent in gold to deliver on or before May 1, 1933, all but a small amount of gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve in exchange for $20.67 (equivalent to $433 in 2021)per troy ounce. Under the Trading with the Enemy Act of 1917, as amended by the recently passed Emergency Banking Act of March 9, 1933, a violation of the order was punishable by fine up to $10,000 (equivalent to $209,000 in 2021),up to ten years in prison, or both.

https://imgur.com/a/8IQ4WXn

The main rationale behind the order was actually to remove the constraint on the Federal Reserve preventing it from increasing the money supply during the depression. The Federal Reserve Act (1913) required 40% gold backing of Federal Reserve Notes that were issued. By the late 1920s, the Federal Reserve had almost reached the limit of allowable credit, in the form of Federal Reserve demand notes, which could be backed by the gold in its possession.

BTW since 2020 the required reserves of cash on hand per amount deposited is zero.

https://imgur.com/a/g9PDnF8

https://www.federalreserve.gov/monetarypolicy/reservereq.htm

The price of gold from the Treasury for international transactions was then raised by the Gold Reserve Act to $35 an ounce (equivalent to $733 in 2021). The resulting profit that the government realized funded the Exchange Stabilization Fund, established by the 1934 Gold Reserve Act. More about the ESF https://home.treasury.gov/system/files/206/ESF-Annual-Report-for-Fiscal-Year-2021.pdf

A New York attorney named Frederick Campbell had one deposit at Chase National Bank of over 5,000 troy ounces (160 kg) of gold. When Campbell attempted to withdraw the gold, Chase refused, and Campbell sued Chase. A federal prosecutor then indicted Campbell on the following day (September 27, 1933) for failing to surrender his gold. Ultimately, the prosecution of Campbell failed, but the authority of the federal government to seize gold was upheld, and Campbell's gold was confiscated.

The Gold Reserve Act of 1934 made gold clauses unenforceable and authorized the President to establish the gold value of the dollar by proclamation. Immediately following its passage, Roosevelt changed the statutory price of gold from $20.67 to $35 per ounce, thereby devaluing the US dollar, which was based on gold. That price remained in effect until August 15, 1971, when President Richard Nixon announced that the US would no longer convert dollars to gold at a fixed value.

submitted by /u/TakingChances01
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Open Sourcing the BITCOIN YouTube Channel | Who Should Contribute?

Hi r/bitcoin

I'm going to be opening up the BITCOIN YouTube channel to Bitcoin developers, educators and creators soonTM. They'll be able to log in with their own gmail account, upload and publish their own content without my permission. Before I start sending out invites, I thought I'd ask, who do you want to see as a contributor to this project?

For more information about the project: https://github.com/Fiach-Dubh/BITCOIN-YouTube

if you have any questions or feedback, I'm all ears.

Thanks for reading.

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On a Ford Edge though….

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