Will increasing banking restrictions lead to a rise in P2P transactions?

[Jet Cash]

You need to remember that I'm in England, and England is a special case. The current world order that evolved from the Knights Templar and the subsequent British Empire, is under threat. The UK is ruled through a different "country", and that is the City of London. This isn't the London controlled by the Mayor of London, but the financial empire known as the square mile. It has a public figurehead who is The Lord Mayor of London. It is estimated that up to 60% of the western world's assets are managed through the "Veil of Tiers" trusts administered by the City of London. This includes the banks, and they feel threatened by crypto that is outside their control. They are also weaponising banking. This evident in the way that they are destroying the dollar, and political punishments such as the de-banking of Nigel Farage and other political figures. The current restrictions are causing crypto exchanges to emigrate from the UK, and thus the government will lose the tax revenue from these businesses. Banks are closing accounts where payment are made to or from crypto exchanges. Tor doesn't help, as the banks will need full details to make the payments. Any attempts to conceal this will probably give rise to a charge of money laundering, and the subsequent confiscation of funds. Whilst I do not agree with much of the current UK government expenditure, I have no desire to attempt to evade the payment of legitimate taxes. However, I do want to keep my current bank accounts and payment services.

If I sell a domain name, then I can accept a peer to peer payment, and push the name via my registrar. I understand that there will be taxes due on the sale, but at no time does the transaction involve any banks if the purchaser already owns Bitcoin. I feel fairly safe when making a cash purchase in a Supermarket cafe. They all have massive numbers of video recording and facial recognition these days, so any attempted robbery would be recorded on video. That raises the question of government access to those video tapes, and that may be something to consider for the future.

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[barto123]

Yes, this is something I'm personally predicting big time

People are starting to figure it out. Check out website kycnot.me

Most of crypto is just surveillance like fiat, so they can easily pin your identity to the blockchain & extort you

Problem is - if you coinjoin your BTC, most exchanges/swap sites will now deny your transactions

So you best buy it P2P at the very minimum or just use Monero

however Monero is being shadow-banned all over the place - which tells me they fear it the most. which makes me want to buy & use it more

[Peanutswar]

Currently, my country is slowly adopting the use of crypto transactions, but still, they are using a third party to support the conversation of the crypto coins to fiat coins, but they are now widely accepting the use of crypto even as an act of payment but in limited stores, sooner or later if the government will see the potential on the use of it i guess possible they will adopt but takes a lot of due process with this decentralized feature.

[Pmalek]

You have not given your reasons why you don't like face to face trading of cryptocurrency...

I guess it's the usual reasons. The possibility of getting robbed or receiving fake bank notes fully or partially. You could also be followed home, which would reveal to scammers where you live. Luckily, I have only had positive examples with face-to-face deals, but I have heard horror stories that makes you think how smart it is to meet people you don't know, even in public. All I can say is, don't go unarmed and be willing to strike first if it comes to that.

[DooMAD]

I keep reading about bank accounts in the UK, US and EU being frozen due to crypto associations. This is concerning me, and I am reluctant now to use any exchanges to purchase Bitcoin.

If those centralised exchanges can also freeze your funds, should you not be equally reluctant to use them to begin with?

or will sanity prevail and allow us to return to using exchanges?

If sanity had prevailed, people would have stopped using exchanges when Gox imploded.  The entire concept of recreating custodial banking services in Bitcoin is deeply flawed.  I find it completely insane that so many people readily abandon ownership for convenience.

If you saw someone standing on a street corner saying they'd hold onto your cash for you so you can trade some bits of paper with "IOU" written on them, you'd call the police, right?  Exact same setup on the internet?  Sign up thousands of users.  Go figure.