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Add "Cash by mail" as a payment option #1101
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Here's how "cash by mail" payments for bitcoin (BTC) are handled on other sites:
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+1 nice writeup of cash by mail procedures. Maybe you can do one for cash in person also? perhaps should be a separate issue. |
We'll do a short call about 'cash via mail' ideas later today. Anyone is free to join, and @mutagenfork it would be great to have you there! |
I am not sure sure if I can make it (release), but will try. |
Updated zoom call link: https://zoom.us/j/301252266 |
@mutagenfork, we're here now: https://zoom.us/j/301252266 |
I'm glad this issue is still open. I left a comment in #1110 about arbitration. I think that arbitration is wonderful even if it fails sometimes. The trick is to positively identify an arbiter (sign stuff with the private key of an address from which you send some sort of bond or something?) so that their reputation can follow them. I also would like to see a cash by mail option in BISQ. |
@alfsbs Do you think this payment method is something we should consider? |
bitcoin does have great benefit to the unbanked; and vice versa |
Demand for cash by mail might go up quite a bit because localbitcoins just announced that they will be disabling all cash by mail ads on Dec. 27th. There is an effort to stop them. |
This issue has been automatically marked as stale because it has not had recent activity. It will be closed if no further activity occurs. Thank you for your contributions. |
This issue has been automatically closed because of inactivity. Feel free to reopen it if you think it is still relevant. |
Another exchange, Paxful, is adding KYC steps in order to trade local and by mail cash trades. Even if Bisq only allowed cash trades as a way to exchange contact information securely, I think it would be a valuable feature. Currently, the way local cash trades is implemented, I only use Bisq to share contact information securely because it is too much of a hassle to complete local trades which require a laptop. I think this feature should be revisited as more and more centralized exchanges are regulated. |
+1 for in-person trades to be contact info only. Or at least have it as an option. Basically it would work as present, but without the multi-sig escrow. Then people might actually use it.... |
Hello, i am trader on localbitcoins and paxful. done just over 1000 cash by mail trade, had about 5 disputed in the whole time. thats about 0.5% of trades. i think this method of payment needs to be added. the only reason i do not use bisq is i only trade with cash in person or mail and they is not enough incentive to use bisq yet with my methods. once it accepts cash by mail i would more than likely direct customers from other websites as i like the idea of a decentralised exchange. im just surprised its not already implemented as less risk than in person. |
@dave2014btc Can you teach us how to do mail-by-cash tranasactions anonymously? I'm trying to use mail-by-cash deals on localmonero. But, I have never done cash deals with other people. I imagine that I could do so pseudonomously if I bought and installed password-protected delivery storage in my apartment where many people live. When I buy cash with XMR, I would just have cash delivered to the storage box which is shared with my neighbors. If I have cash delivered to my home address, my opponent learns my home address. I imagine that in the near future, governments may set up cash-by-mail traps on localmonero to punish random suckers who want to buy XMR without leaving traces in the system. |
I do not try to do it anonymously , but I use po box to protect myself from
bad actors. If someone really wanted they could buy xmr from you and send
package with a tracker hidden inside the cardboard on the box and follow it
exactly to you. But your idea sounds decent but wouldn't be surprised if
someone ripped it off the wall knowing they was cash in it. Best way to use
po box costs a bit but saves you from most bad actors. Btw I'm always
buying BTC and crypto for cash in mail.
…On Wed, 30 Sep 2020, 11:01 crocket, ***@***.***> wrote:
@dave2014btc <https://github.com/dave2014btc> Can you teach us how to do
mail-by-cash tranasactions anonymously? I'm trying to use mail-by-cash
deals on localmonero. But, I have never done cash deals with other people.
I imagine that I could do so pseudonomously if I bought and installed
password-protected delivery storage in my apartment where many people live.
When I buy cash with XMR, I would just have cash delivered to the storage
box which is shared with my neighbors.
If I have cash delivered to my home address, my opponent learns my home
address. I imagine that governments may set up cash-by-mail traps on
localmonero to punish random suckers who want to buy XMR without leaving
traces in the system.
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@dave2014btc A tracker is unlikely to be used but is still physically possible. How is post office box any different except that it's more difficult to rip off such a box and there are CCTVs around it? Why do you always buy cryptocurrencies by cash in mail unless you are trying to buy cryptocurrencies privately? Do you have any better idea for private transactions? |
The po box at the post office is not anonymous , also it's not a physically
secure box just a box in a room behind the counter. They are cameras if
someone was to take something but I always ask people to send special
delivery as you can insure cash in the u.k. but it means I don't have to
give my address to random people and it also means that I can collect my
mail at 8am even tho it won't be delivered till 1pm also untracked mail
seems to arrive a day faster. They are pros and cons. Even police or
official people will need a warrant of some sort to get my information from
the post office. I have other ideas on how you could do it but just adds
more risk on money being lost.
…On Wed, 30 Sep 2020, 12:23 crocket, ***@***.***> wrote:
@dave2014btc <https://github.com/dave2014btc> A tracker is unlikely to be
used but is still physically possible. How is post office box any different
except that it's more difficult to rip off such a box and there are CCTVs
around it?
Do you have any better idea?
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@dave2014btc I want to hear your ideas. Perhaps, we can develop this idea somewhere else. I specifically don't want governments and corporations to be able to trace my transactions. I also don't want whom I make deals with to know my address. I want privacy. By the way, you can detect trackers by using various EMF meters. If it emits wireless signal, EMF meters can detect electromagnetic frequencies. Trackers have to emit strong wireless signals if they want to communicate with nearby cell towers. |
Reopening as there is still an ongoing discussion. |
Please see below a summary of the proposal to add Cash by Mail as a payment option to Bisq. Cash by Mail has many desirable features for use as a payment method. Some of the contentious issues are around protentional concerns with what evidence can be provided for delivery / receipt of the cash, and if the cash is or is not genuine. There are also concerns around if potential mediation / arbitration of Cash by Mail trades can be facilitated by the current mediation and arbitration systems in place. I am in favor of adding Cash by Mail as a payment option and keeping it under close review for the next 12 months. At 12 months the benefits/negatives will be more obvious and a decision can be made to continue or retire this payment option. For the purpose of the DAO vote I propose using the below parameters. These can be further agreed if needed. Please see the vote as being to vote in agreement or disagreement with the principle that "Cash by mail" should be added as a payment option to Bisq. Trade sizes: Default as per bisq-network/proposals#264 Please see below a summary of the features of Cash by Mail:
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Maker and taker fees should not be higher than other payment methods. Dispute costs should not be subsidized by all the users but paid by those who use mediation and arbitration. I think this payment method could be multicurrency, as most postal cards can cross borders. |
Just want to mention that this is a bit extra dev effort and we usually dont have payment method specific deposits.
Same here. Will be extra dev effort and might conflict or complicate possible future changes as bisq-network/proposals#280. |
Not sure of the insured methods work cross border, I doubt. |
Is to be insured a requirement? |
Yes :) Think there will be discussion around the protocols, and that can take into account dev time. I will update it to be same as normal. Yes I agree in some instances it can be multicurrency. |
@jmacxx If mediation and arbitrator teams want to go ahead, there's not much more to say through a DAO vote. |
I don't think any current mediators have opposed it. |
@dave2014btc Regarding privacy/physical security: Regarding video/proof: |
@wiz @huey735 @Bisq-knight @leo816 Could you add your view? |
Please consider that scams will not only hurt the trader but also have impact on Bisq:
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I would prefer to use a DAO vote only as a last resort if there are 2 camps cleary pro and contra. But I don't see that. My suggestion (most are in sync with @pazza83's summary):
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Can you let me know thoughts behind why only as a last resort? Can a vote not be used so speed up a process to gain agreement for or against a proposal quickly? |
@pazza83 |
I do not think @wiz is currently a mediator |
He revoked but then later become again afaik. Not 100% sure though. |
I think voting got such a good reputation as our modern democracy has forgotten about the original idea where democracy was about public discourse and finding consensus. Only in the event that no consensus can be found but all arguments have been laid out and are understood by the partizipants voting was the last resort to come to a result. Voting is dictatorship of the majority over the minority and creates a winner and a loser group, so it has potentially negative impact to a group (cause devision). In contrast to find a consensus makes the group stronger as they feel more aligned with the result they could create together. Also the result is then supported by the whole group and not only by the winner group (losers tend to form opposition). I don't want to over-interpret that for our small example here, but those are the reasons why I prefer to avoid DAO voting if not needed. It also reduces outcomes to binary outcomes which might not always reflect good the situation. And it adds delay with the DAO cycle...
Sure if things get stuck it is for sure a tool to be used. I just don't have the feeling that this proposal suffers on stale mate problems, but rather of different expertise and understanding of risks (CBM experts vs. Bisq experts -> both tend to lack understanding of the other domain). |
Thanks for letting me know that sounds great. Does anyone have any objections to @chimp1984's proposal to proceed in a cautious way that reduces the risk of attracting scammers as per #1101 (comment) It would also be great to hear from @jmacxx and @wiz to hear your feedback on @chimp1984's proposal with reference to your expressed concerns. It would also be great to hear from @huey735, @huey735, @Bisq-knight, and @leo816 opinions on the concern raised @wiz about mediators and arbitrators not wanting to be in the situation where they need to make a judgement call based with reference to @dmp1ce #1101 (comment) 🥇 Fun Fact: This issue is the most commented ever on https://github.com/bisq-network/bisq/issues |
The many comments are promising that this payment method might gain traction! |
I prefer lazy consensus after getting work done to concensus before starting work. Faster iterations enabled by lazy consensus make an organization a fast learner. Learning from direct experiences is always better than paralysis by thought experiment committee. Merge a pull request first. Seek forgiveness later. Review after merging. Lazy consensus also attracts more free labor because people like projects that merge fast. My small projects practice lazy consensus. Add cash by mail. If it turns out to be a pain in the ass, you can scrap it later, or you can improve it incrementally. |
I am keen to come to a decision on this by the end of this cycle. I am proposing the add CBM as a payment option to Bisq. This seems to be roughly in line with the majority consensus. It would be great to have @bisq-network/mediators input @huey735, @huey735, @Bisq-knight, @wiz and @leo816 please let me know if you have any concerns regarding mediating CBM trades. |
As per proposal for existing payment method editing process and estimated timelines I am recommending this payment method for addition. No concerns have been raised from @bisq-network/mediators so would like to make plans for getting this added in the next cycle. @huey735, @huey735, @Bisq-knight, @wiz and @leo816 if you do have any concerns share them on this issue before the end of the cycle 27th Dec 2020. |
Thanks to @jmacxx who has started working to implement this 👍 |
Hi the first draft of the Cash by Mail Wiki for Bisq is online Please share your thoughts. I am wondering if phone number should also be included at the payment account creation stage so that this can be passed on the the courier. Would Sellers of BTC using cash by mail be happy to share their phone number with the buyer / courier company to facilitate a smooth delivery? |
Phone numbers can be included, but you shouldn't enforce or validate it. |
I think then best to leave for traders to communicate in trader chat. Numbers might change also depending on preferences at the time of trading. |
Cash by mail is now possible with Bisq https://bisq.wiki/Cash_by_mail |
Bisq advertises privacy as one of the features it offers; to whit:
"Private – no one except trading partners exchange personally identifying data. All personal data is stored locally."
However, this is not true. All of the currently listed payment methods require signing up with a bank or financial institution and sharing with them rather invasive details about one's identity and financial history.
The currently allowed payment methods are also unavailable to anyone who is unbanked, such as an immigrant, or a resident of a country where the banking system is underdeveloped and only available to the wealthy.
Therefore, I'd like to request that bisq add support for payments by "cash in person" and "cash by mail".
Note that this is already an option at several other exchanges/companies:
https://paxful.com/buy-bitcoin/cash-by-mail
https://localbitcoins.com/buy-bitcoins-online/cash-by-mail/
https://moneroforcash.com/
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