P2P will save your life

[pawel7777]

Money has three functions: medium of exchange, unit of account, and store of value.

This definition should be taken with a grain of salt as hardly anything would meet those requirements. Especially with inflation in some developed countries still being close to two digits.

So at the moment, bitcoin is almost impossible to use as a medium of exchange because each transaction takes time, costs electricity, and costs quite a lot.

What do you mean by "almost impossible"? Sure, you could argue that there are much cheaper and faster mediums of exchange but this doesn't mean Bitcoin can't be used as such. It is being transacted all the time, you yourself probably get paid with btc from the signature campaign you're participating in. So I don't understand why would you think it's impossible.

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[Marvell1]

I have also never heard anyone say that P2P is faster and more convenient than centralized exchanges.

I didn’t think centralized exchanges are more convenient overall.
Centralized exchanges start convenient and become inconvenient later on. P2P requires a higher initial effort, but becomes more convenient later on.

Centralized exchanges let you sign up easily, then force KYC on you, later ask you to verify your source of funds, Bincance hat 3 upload spaces for source of funds, but I had 5 document, had to wait 5 days until documents were reviewed, Binance then refused me without giving me a reason asking me to reapply, I reapplied, refused again. All of this while sometimes holding your funds hostage.
If you want to make your taxes you are limited to exporting 3 month of transaction history. You can only load 3 transaction histories a day.
Trouble over trouble.

P2P has a higher initial effort required, but then the effort is lower especially if you use the same counter parties again and again.

On the topic of Binance P2P, it is not real P2P if Binance is not involved.

I'm not the only one using Binance, and I believe most people are using it for certain purposes. So far, I have never had a problem with Binance. Why don't you wonder, out of millions of accounts, no one has a problem while you are having issues with Binance and complaining about their service? Are they having a problem, or is the problem yours? If you can use P2P conveniently and without any hassle, then that's fine for you. But for me, I find it safer to use P2P of exchanges.

Yes, I agree with you and some people here, P2P of exchanges is not a pure P2P.

[Bitstar_coin]

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I'm not the only one using Binance, and I believe most people are using it for certain purposes. So far, I have never had a problem with Binance. Why don't you wonder, out of millions of accounts, no one has a problem while you are having issues with Binance and complaining about their service? Are they having a problem, or is the problem yours? If you can use P2P conveniently and without any hassle, then that's fine for you. But for me, I find it safer to use P2P of exchanges.

Yes, I agree with you and some people here, P2P of exchanges is not a pure P2P.

To be honest, i don't know any other p2p platforms besides exchanges (binance especially) that is safe enough to transact comfortably imo.
Just like you, i have also been using binance p2p for a long time now and i have never encounter any problem, my assumption with such complaints is probably they don't even have an account with binance but just want to discredit them out of personal beef. i use the binance p2p very frequently and i found it very convenient and secured to a certain degree.

[Emmanuelex]

I always make sure to save some of my money in Bitcoin, though I don't put much of it, because I always need a lot of cash/fiat for my business and also some other day to day expenses I may encounter. But no matter what, I never miss to save some of my money elsewhere, which is Bitcoin, because I understand how important this is.

[fuguebtc]

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I'm not the only one using Binance, and I believe most people are using it for certain purposes. So far, I have never had a problem with Binance. Why don't you wonder, out of millions of accounts, no one has a problem while you are having issues with Binance and complaining about their service? Are they having a problem, or is the problem yours? If you can use P2P conveniently and without any hassle, then that's fine for you. But for me, I find it safer to use P2P of exchanges.

Yes, I agree with you and some people here, P2P of exchanges is not a pure P2P.

To be honest, i don't know any other p2p platforms besides exchanges (binance especially) that is safe enough to transact comfortably imo.
Just like you, i have also been using binance p2p for a long time now and i have never encounter any problem, my assumption with such complaints is probably they don't even have an account with binance but just want to discredit them out of personal beef. i use the binance p2p very frequently and i found it very convenient and secured to a certain degree.

Most of the people who are spreading negative news about centralized exchanges are bitcoin maximalists. They have their reasons because centralized exchanges are going against what bitcoin created, which is decentralized and peer-to-peer trading. But to be fair, P2P has its risks, and many people are risk averse, and they choose centralized exchanges as an option. I'm not advocating for Binance or CEXs, but besides needing to provide our identities, most things go smoothly when we use P2P powered by CEXs. Depending on the choice of each person, we use the service that is most suitable for us.

[panganib999]

Do you think that CBDC will eradicate Paper Money? I don't think so and even if it's going to happen it will be very slow because we have people that don't want to use digital payment still, it's going to be a matter of choice, choose what suits your convenience.

We can't do without the Banks, to spend Bitcoin in the real world you need to convert into Fiat and that money is heading into your Bank account anyway, what we want to prevent is cleaning every traces of Bitcoin money into our Bank accounts, that's why I personally use P2P trades.

The exchange between Bitcoin into Fiat is controlled by YOU, not the government or the Banks, no one forces you to sign up on a centralized exchange and pass their KYC, everyone knows what KYC requirements means when asked.

A real P2P platform is one step ahead of Banks, government and other centralized puppet companies, it's left for you to make your choice wisely.

About the Tainted Coins, it can still be avoided, the problem with privacy and anonymity in crypto space starts with a user, who look for centralized platforms themselves and passed their KYC, you want to stay out of sight? Don't ever pass KYc and stay away from every God damn centralized exchanges.

Exactly. The most common misconception that people have when it comes to CBDC is that it will effectively replace paper money which it won't, cause this will effectively bar those who are off the grid and those who do not have internet capabilities from ever participating in the economy. Plus it doesn't make sense to counteract paper money with digital money when they could work hand in hand anyway. It's also worth noting that while it's up to you to pass KYC requirements just so you can trade and use the platform effectively, the aggressive approach that some CEXs employ just so they can make people verify is a little exploittative, and them being one of the biggest gateways into cryptocurrency makes the industry a little less democratized if you'll ask me.

[Marvell1]

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I'm not the only one using Binance, and I believe most people are using it for certain purposes. So far, I have never had a problem with Binance. Why don't you wonder, out of millions of accounts, no one has a problem while you are having issues with Binance and complaining about their service? Are they having a problem, or is the problem yours? If you can use P2P conveniently and without any hassle, then that's fine for you. But for me, I find it safer to use P2P of exchanges.

Yes, I agree with you and some people here, P2P of exchanges is not a pure P2P.

To be honest, i don't know any other p2p platforms besides exchanges (binance especially) that is safe enough to transact comfortably imo.
Just like you, i have also been using binance p2p for a long time now and i have never encounter any problem, my assumption with such complaints is probably they don't even have an account with binance but just want to discredit them out of personal beef. i use the binance p2p very frequently and i found it very convenient and secured to a certain degree.

I dare bet with you, many people are wandering the social networking platforms to slander the exchange, but behind that, they still quietly use them. Because no matter how badly we talk about it, it is undeniable that centralized exchanges are the most liquid and fastest, so people will go there instead of decentralized platforms. There will be very few people who don't use centralized exchanges and primarily those who uphold the importance of privacy. But as we can easily see, most people enter the market for profit and not to protect privacy.

[Blitzboy]

Do you think that CBDC will eradicate Paper Money? I don't think so and even if it's going to happen it will be very slow because we have people that don't want to use digital payment still, it's going to be a matter of choice, choose what suits your convenience.

We can't do without the Banks, to spend Bitcoin in the real world you need to convert into Fiat and that money is heading into your Bank account anyway, what we want to prevent is cleaning every traces of Bitcoin money into our Bank accounts, that's why I personally use P2P trades.

The exchange between Bitcoin into Fiat is controlled by YOU, not the government or the Banks, no one forces you to sign up on a centralized exchange and pass their KYC, everyone knows what KYC requirements means when asked.

A real P2P platform is one step ahead of Banks, government and other centralized puppet companies, it's left for you to make your choice wisely.

About the Tainted Coins, it can still be avoided, the problem with privacy and anonymity in crypto space starts with a user, who look for centralized platforms themselves and passed their KYC, you want to stay out of sight? Don't ever pass KYc and stay away from every God damn centralized exchanges.

Exactly. The most common misconception that people have when it comes to CBDC is that it will effectively replace paper money which it won't, cause this will effectively bar those who are off the grid and those who do not have internet capabilities from ever participating in the economy. Plus it doesn't make sense to counteract paper money with digital money when they could work hand in hand anyway. It's also worth noting that while it's up to you to pass KYC requirements just so you can trade and use the platform effectively, the aggressive approach that some CEXs employ just so they can make people verify is a little exploittative, and them being one of the biggest gateways into cryptocurrency makes the industry a little less democratized if you'll ask me.

CBDCs aim to coexist and offer options, not to replace real cash. When technology is used to exclude rather than include, cognitive dissonance may occur.

I acknowledge that some CEXs enforce KYC aggressively. Despite their need to follow regulations, the process shouldn't be exploitative or alienating. We should work together to promote participation and compliance. User verification can be efficient, respectful, and inclusive, I hope.

[Ayers]

Do you think that CBDC will eradicate Paper Money? I don't think so and even if it's going to happen it will be very slow because we have people that don't want to use digital payment still, it's going to be a matter of choice, choose what suits your convenience.

We can't do without the Banks, to spend Bitcoin in the real world you need to convert into Fiat and that money is heading into your Bank account anyway, what we want to prevent is cleaning every traces of Bitcoin money into our Bank accounts, that's why I personally use P2P trades.

The exchange between Bitcoin into Fiat is controlled by YOU, not the government or the Banks, no one forces you to sign up on a centralized exchange and pass their KYC, everyone knows what KYC requirements means when asked.

A real P2P platform is one step ahead of Banks, government and other centralized puppet companies, it's left for you to make your choice wisely.

About the Tainted Coins, it can still be avoided, the problem with privacy and anonymity in crypto space starts with a user, who look for centralized platforms themselves and passed their KYC, you want to stay out of sight? Don't ever pass KYc and stay away from every God damn centralized exchanges.

Exactly. The most common misconception that people have when it comes to CBDC is that it will effectively replace paper money which it won't, cause this will effectively bar those who are off the grid and those who do not have internet capabilities from ever participating in the economy. Plus it doesn't make sense to counteract paper money with digital money when they could work hand in hand anyway. It's also worth noting that while it's up to you to pass KYC requirements just so you can trade and use the platform effectively, the aggressive approach that some CEXs employ just so they can make people verify is a little exploittative, and them being one of the biggest gateways into cryptocurrency makes the industry a little less democratized if you'll ask me.

CBDCs aim to coexist and offer options, not to replace real cash. When technology is used to exclude rather than include, cognitive dissonance may occur.

I acknowledge that some CEXs enforce KYC aggressively. Despite their need to follow regulations, the process shouldn't be exploitative or alienating. We should work together to promote participation and compliance. User verification can be efficient, respectful, and inclusive, I hope.

I still believe CBDC will replace and completely eliminate cash, but that won't happen anytime soon, the government may take a long time to do so.
KYC will really make us lose our privacy, I also do not like it but if viewed positively, it is also a way for governments to manage their citizens. Because not everyone uses bitcoin or money for good purposes, many criminals are using bitcoin or money for evil purposes to sabotage our society. So the government has reason to force us to enforce KYC and fully comply with regulations.

[pawel7777]

CBDCs aim to coexist and offer options, not to replace real cash.

That's just a wishful thinking. There's a big push for getting rid of paper cash and no one is even hiding it. In most European countries using of cash is already restricted including max limits for cash purchases, that they keep lowering (plus they're getting effectively decreased by inflation alone).
There's no really a need for CBDC if it was meant to function only as one of the payment options.
From any government's point of view, issuing and managing cash is very inconvenient and creates opportunities for people to under-report their earnings (and pay less taxes as a result), is often used in criminal activities, and posses an inherent risk of it getting counterfeit.
The logic that the cash will have to be around because poor people use it is flawed. It'd probably be easier and cheaper for the government to issue free payment devices to those who need them (similar to "Obama phones" programme) than to keep cash in existence.

[CageMabok]

I always make sure to save some of my money in Bitcoin, though I don't put much of it, because I always need a lot of cash/fiat for my business and also some other day to day expenses I may encounter. But no matter what, I never miss to save some of my money elsewhere, which is Bitcoin, because I understand how important this is.

You have done an extraordinary job and if at this point you already know how important it is to save money into Bitcoin, you may be very profitable when you already have more Bitcoin even though it is the result of the hard work you have put aside so far. Fiat money is money that is still needed by many people, including business people, so it is a very common thing in life. Especially for business people like you who really have to always rotate money in order to get profits on a daily basis.