P2P trade. What happened?

[shegazy82]

When I decided to try to figure out how to make money with Bitcoins last year I thought the most suitable solution for my situation was to sell BTC for other FIAT based wallets or cash (Skrill, PayPal, Western Union, Perfect Money ....etc) make profit and buy again, the market was awesome.

I would finish all of what I have early in the day and shut down customers because I don't have enough capital. Given that I decided to dedicate myself to this and grow.

I invested some money and time learning and by the time I opened a company and struggled with banks to find some who would accept a crypto business owned by an Egyptian who is resident in Latvia and his capital is under 100,000 Euros, now it seems like the business is dead.

There are no customers like before and I am getting worried. I tried google to figure out what is going on; and there are some new services but  I don't think they absorbed all of that volume specially that this happened very very quickly I would say it started slowly last September and became very bad by the end of December.

I had a theory that people will need BTC in their daily lives soon and with that for the next 2 to 5 years there will be a high demand on buying BTC using online wallets and not enough services facilitating this, for so many different reasons but now it doesn't look like that at all.


Anybody has any idea what is going on?

[1714175202]

1714175202

[figmentofmyass]

There are no customers like before and I am getting worried. I tried google to figure out what is going on; and there are some new services but  I don't think they absorbed all of that volume specially that this happened very very quickly I would say it started slowly last September and became very bad by the end of December.

I had a theory that people will need BTC in their daily lives soon and with that for the next 2 to 5 years there will be a high demand on buying BTC using online wallets and not enough services facilitating this, for so many different reasons but now it doesn't look like that at all.

Anybody has any idea what is going on?

i'm not sure where you're writing from. in the USA, warnings from regulators and some arrests of localbitcoins traders for unlicensed money transmission has put a big damper on the P2P market. where i live, it's gotten much more difficult to trade for cash over the past year. and most localbitcoins traders are now asking for ID before engaging in trades. i think that's discouraged a lot of P2P market activity here.

[socks435]

Most investors right now are trading or exchange their crypto to tether base on what i heard and localbitcoin mostly there are lots of scammers out there.
If you still wanted to deal to someone why not exchange your bitcoin here https://bitcointalk.org/index.php?board=53.0
And use escrow when dealing you can post if what you rules of payment. .
P2P now a days will be dead soon..

[jnano]

Isn't it about the big market dip? Mainstream audiences might not be used to drops of 70% in a month and half.
I bet a large portion of last year's newcomers will not return, but eventually some might, if the recovery continues.

Maybe also Bitcoin's current capacity limitations put a damper on the enthusiasm.

But you're saying the business decline started in September? If so, that doesn't fit the timeline of the increase in network congestion issues, and the value drop that followed.