Quote from: o_e_l_e_o on April 25, 2023, 06:52:30 PM

Quote from: CryptSafe on April 25, 2023, 11:44:24 AM

Come to talk of bitcoin peer to peer transaction, I believe a peer to peer transaction definitely would require two parties meeting to do transfer one on one which do not also guarantee ones safety of the account holder

You don't need to meet at all and the bitcoin being traded can be placed in escrow prior to the trade for safety. There are plenty of platforms such as Bisq and Robosats which have such a system in operation.

Quote from: CryptSafe on April 25, 2023, 11:44:24 AM

Although CEX are not pseudo or anonymous and they demand for kyc before depositing with them but the peer to peer with the CEX are anonymous and ok to go with just as the DEX is.

Not correct. Trading peer to peer on a CEX is not in the least bit private or secure, since the CEX watches everything you do, reports it all to blockchain analysis companies, and has complete control over your bitcoin while the trade is taking place. You cannot trade peer to peer on a CEX - it is always peer to CEX to peer, with the CEX being a centralized third party. All CEXs which offer "peer to peer" are simply using the term as a marketing gimmick - it isn't actually peer to peer at all.

It is fascinating how you and some other Bitcointalk members relentlessly repeat the problems that come with the usage of CEXs. KYC, no KYC, privacy, no privacy, those aspects seem to be too superficial for some users to actually grasp the far-reaching consequences that the usage of CEXs can bring about later down the road. Tons of data is being collected and for most of those users the digital fingerprint is already perfect from the perspective of governments and other interest groups (hackers).

But my first thought often is that most people who think using CEXs is safe are often those who haven't burnt their fingers yet. I admit I have burnt my fingers and it helped me questioning my trading behavior far beyond what I initially thought is appropriate. Getting your funds frozen can be extremely distressing if the exchange literally blackmails you for an almost unlimited amount of proofs. I have had that in the past and I actually decided to let my funds go because I did at least take the precautionary measure in my mind to not deposit so much that I could be forced into providing whatever they ask me to provide.

I burnt my fingers twice. The above mentioned example was the second time. The first time the exchange just went offline. That is quite a couple of years ago but happened in the right time for me because that was when I was still experimenting. It was definitely hurtful because in relative terms I lost a lot of my crypto holdings.

As of today the funds I hold on a CEX is $0.00.

The saying 'don't risk what you can't afford to lose" applies not only to gambling, but also to keeping funds on a CEX. In essence, doing that can be very similar to gambling. I do understand some people who own so little that the transaction fees would be too much of a financial burden, but I think that trading makes even less sense in that situation. Rather try building a sufficient portfolio even if it takes time, but keep it off-exchange.