Quote from: d5000 on August 09, 2025, 02:08:57 AM

Quote from: Darker45 on August 08, 2025, 03:48:27 AM

~snip~

Yes, at least in the original setup that is the case.

Now however we could imagine also a setup where two machines are connected:

- First machine checks the money people deposit for counterfeit and is operated by company A.
- Second machine contains only the lockers. It is operated by company B. The lockers are not explicitly for cash, but for any item; they guarantee the value for up to a limit (which shouldn't be too high, let's say something like $1000 or $2000).
- All the communication with the P2P exchange is operated by an open source application, with no company involved.

Taking into account your response about the shop, I could imagine this combination of two machines indeed be located inside a shop or restaurant. This shop could guarantee that the money checked by the first machine is indeed placed in the lockers (which could also be an automated mechanism), but not be in charge of the custody itself (i.e. not guaranteeing that nobody steals the money).

Quote from: Darker45 on August 08, 2025, 03:48:27 AM

Perhaps an option is for P2P platforms to tie up with businesses that don't belong to the financial sector, say, coffee shops, concept stores, drop-off pick-up centers, and the like where you can either leave your cash payment or claim it.

Yes that's a good idea too. I could imagine that for low payments that could work. But the shop would be the custodian, so at least for high amounts it's possible they would also be affected by KYC/AML regulations.

Doesn't it sound unnecessarily complicated to you?

I guess my most important considerations are (1) safe locations and (2) skirting the law.

For example, upon choosing cash on the P2P exchange, the seller specifies the city he/she's in. After choosing the specific city, available locations in the map will come out. These are bookshops, restaurants, coffee shops, concept stores, pubs, or anything whose business doesn't belong to the financial sector. As such, they won't ask for KYC regardless of the amount.

He/she chooses one location and the order is placed. When a buyer accepts it and the deal is sealed, the shop is notified. The buyer brings his/her cash, a transaction code, and give it to the cashier or any attendant. That's enough to make sure the payment is made and the money not counterfeit. The attendant clicks the confirmation button and the seller is prompted to send the BTC. After being confirmed, he/she could go anytime to the shop with a code to claim the money.

Is this idea plausible? Or will the authorities shut all these locations down because of doing something other than what they're registered for? I don't know how strict other countries are, but I think this works where I am.