On: Tell HN: Coinbase now requires physical address of recipient in crypto transfers

[ada1981]

Is it possible to acquire crytpo through a non-centralized way?

Beyond mining, how do I exchange $100 of USD for Crypto without going through a trusted party to ensure my $$ gets me BTC?

[bavell → ada1981]

Sure, ask a friend or someone in your local crypto community. P2P is the default in crypto.

[peyton → ada1981]

You and counterparty agree on source of truth (e.g. some bank’s database) and use some sort of proof framework. It’s just an off-chain computation.

[Koshkin → peyton]

I don’t think an average person would understand a word of what you just wrote.

[pc86 → Koshkin]

Just use a proof framework and off-chain computation, you dolt! Monads are just burritos!

[matheusmoreira → ada1981]

Mining is the solution to this problem. It's a simple USD -> electricity -> computer -> cryptocurrency process.

[ada1981 → matheusmoreira]

That’s interesting. It’s essentially a push right?

Do not wildly profitable to mine; but you can untraceably convert USD to crypto via mining.

Curious what it looks like to do this with large sums of cash.