No choice but to use the unavoidable middle man, the exchange companies.

[Kelward]

Some businesses don't want to hold Bitcoin so they use intermediaries that receive Bitcoin for them and convert it to fiat. But not all businesses are like that, some don't mind keeping BTC, so they get they full decentralized experience.

The bigger problem that if you want to use Bitcoin, often you just can't, because you can't pay with it, so you have to sell it for fiat. In the past there was a lot of hope that soon mass adoption will come and it will change, but that "soon" never came so far.

The solution to eliminating the middleman, as you have stated is to have mass adoption of bitcoin, but that is yet to happen, so the exchange middleman still keeps his job. I think that to attain this mass adoption will not be easy because fiat currencies is the identities of countries, so if a single digital currency were to replace or reduce the power of local fiat, then they'll make sure that it doesn't happen. I commend El Salvador, for adopting bitcoin, as their currency, hoping that other nations will see the advantages of bitcoin and adopt it too. I believe that the adoption is attainable because I hear that in some countries that they have bitcoin ATM's, so maybe if every country can adopt it, then it's a way to go.

[slapper]

Some businesses don't want to hold Bitcoin so they use intermediaries that receive Bitcoin for them and convert it to fiat. But not all businesses are like that, some don't mind keeping BTC, so they get they full decentralized experience.

The bigger problem that if you want to use Bitcoin, often you just can't, because you can't pay with it, so you have to sell it for fiat. In the past there was a lot of hope that soon mass adoption will come and it will change, but that "soon" never came so far.

The solution to eliminating the middleman, as you have stated is to have mass adoption of bitcoin, but that is yet to happen, so the exchange middleman still keeps his job. I think that to attain this mass adoption will not be easy because fiat currencies is the identities of countries, so if a single digital currency were to replace or reduce the power of local fiat, then they'll make sure that it doesn't happen. I commend El Salvador, for adopting bitcoin, as their currency, hoping that other nations will see the advantages of bitcoin and adopt it too. I believe that the adoption is attainable because I hear that in some countries that they have bitcoin ATM's, so maybe if every country can adopt it, then it's a way to go.

Not merely "eliminating the middleman" is the goal; our approach to thinking about money needs to be revolutionized. Fiat moneys? Holding them up are antiquated institutions. They are bound to a nation's identity, yes, but that is what is restricting them. Bigger thinking is required

Costa Rica? They deserve praise for having the fortitude to look to the future. But why wait until a Bitcoin ATM is available in every nation? Small thinking, that. We wouldn't be waiting for change if I were in charge; we would be demanding it. Let nations maintain their antiquated fiat currencies if they so choose! We're about to see a financial revolution, and I can assure you that a few bureaucrats won't be able to stop it

[AicecreaME]

For me, the safest way to make an online or even an actual transaction using fiat or Bitcoin is through a middleman.

You cannot risk your Bitcoin in an online transaction with a total stranger that you've known online that wants to buy or sell Bitcoin to you in exchange of fiat. I'd rather spend using a reputable middleman than to risk my money even though I know I have a lot of choices to make the transaction safe as much as possible.

Don't be a cheap person when it comes to the security of your own money in any kind of transactions unless you know the person who you're transacting with.

[Doan9269]

You can not eliminate the middle man in businesses, especially in this digital age, be it fiat or cryptocurrencies, because they have come to stay. Big exchanges like Binance, are cashing in on being the middle man in businesses, an unavoidable indirect business associates, in your face, waiting for you to go through them.

Going by what p2p is, we can make use of decentralized exchages as well in getting our needs, centralized exchages to some is the last option they could recommend in which one can use to acquire bitcoin which isn't, however if we must then use any, there must be this understanding that our asset must be moved to a personal wallet for safety, some actually depends on these middlemen functions to earn a living because that's how their own way of making business comes in, we should know that we can also do without them in cryptocurrency.

[reagansimms]

In this case, it's not only the exchange that benefits, you also benefit from the services they offer, it's simpler that you and the exchange are equally profitable. You cannot ignore intermediaries in processing crypto assets, for example you want to convert Bitcoin to fiat and then withdraw it through conventional banks.
Their existence has made it easier for Crypto asset users in every way, intermediaries in business have helped many people with the services offered. Exchanges like Binance have made a lot of profit from the services they offer as intermediaries. It's only natural that they gain a lot because they have helped many users of Crypto assets in making various transactions.

[Joshapat]

The presence of cryptocurrencies is certainly the most profitable business place for exchange companies, even Binance is now getting bigger and becoming a company with a very large turnover, several top exchanges such as crypto.com, coinbase and so on continue to expand and promote in world's top events such as football, UFC and so on.

[Franctoshi]

I think that exchanges simply play a different role and thus are very likely to stay. A person can send BTC from one address to another, and there's zero need for an exchange in that situation. But if you're a trader, you need an exchange, and centralized exchanges might be convenient for that. If you want to buy or sell BTC for fiat, that also often requires an exchange, although it doesn't have to be a place like Binance where they store your money. I, for one, usually use local exchanges where you, for example, send BTC to a certain address from your wallet and get a transfer onto a bank account, so nobody is storing anyone else's funds in this situation.
Also, if we're talking about active use of Bitcoin for payments, a custodial wallet can be more convenient if it's widely used because that allows 'instant payments' and very low fees.
I think it should just be accepted that there are some use cases for intermediaries, and that they are not going to disappear.

I don't either see the possibility of centralized exchanges going away soon because of the role that they play in the industry in terms of trading future contracts/leverage, They play the role that the forex brokers play in the forex industry, and taking them out of the picture regardless makes no sense, we have decentralized exchanges and self custody wallet, people can always run transaction without third-party.

[Unbunplease]

In this case, it's not only the exchange that benefits, you also benefit from the services they offer, it's simpler that you and the exchange are equally profitable. You cannot ignore intermediaries in processing crypto assets, for example you want to convert Bitcoin to fiat and then withdraw it through conventional banks.
Their existence has made it easier for Crypto asset users in every way, intermediaries in business have helped many people with the services offered. Exchanges like Binance have made a lot of profit from the services they offer as intermediaries. It's only natural that they gain a lot because they have helped many users of Crypto assets in making various transactions.

Mediation is one of the revenue items of exchanges. You can hardly do without it. But the exchange somehow guarantees that you will receive your funds - and you have to pay for guarantees. In general, it is unrealistic to do without intermediaries - this is only a dream, the reality is somewhat different

[SmartGold01]

There some most cases where you may deal without involving the middle man, which we can call it escrow because that is the function of p2p trade on any exchange. They hold the funds in between and when is initiated and the receiver confirm his payment then the escrow holder releases for the sender, but from my little research over here I noticed there are some reputable members you can deal without having to go through escrow service for them to hold funds while the business transaction is settled. So partially people across this forum can deal with each others after haven developed trust.

[Davian144]

The presence of cryptocurrencies is certainly the most profitable business place for exchange companies, even Binance is now getting bigger and becoming a company with a very large turnover, several top exchanges such as crypto.com, coinbase and so on continue to expand and promote in world's top events such as football, UFC and so on.

Companies that serve the field of exchange are like markets that can sell and exchange goods as seen by many people in life so that they are very suitable to develop and be present among the world's people who continue to like crypto currency more and more. And for promotional matters and the cooperation they tie up with several major sporting events, I think this is just their way or technique to make the company more famous so that there is a lot of trust from the public to use it.

[BRINIRHA]

Direct transactions without intermediaries in the real world are easy to do. But direct transactions without third-party intermediaries on the internet with people you don't know are much more difficult. Because this is about trust. I personally feel comfortable with the p2p provided by centralized exchanges which are highly rated which also means having a high level of trust. Because when we sell crypto, we will not be afraid of being deceived because the buyer will transfer money to our account first. After they have successfully transferred, then we can release our crypto to the buyer. But yeah, everyone has a different opinion on this. But the point is sometimes a trusted third party is needed to achieve a safer transaction.

[Razmirraz]

Who can refuse, when you want to convert Bitcoin to Fiat or vice versa, you need to use the services offered by intermediaries or more widely known in the world of Crypto Exchange. Why can Binance become one of the biggest platforms in the Crypto world because almost all of the world's crypto users use its services.
The functions and benefits offered by intermediaries cannot be eliminated, especially in crypto activities, imagine if there were no intermediaries, how could you exchange Bitcoin into Fiat (a simple example like that).

[Gozie51]

Well, trust is difficult to earn. And it's often advised not to give it to anybody. We don't easily trust. But does an exchange offer a solution to this? From a certain viewpoint, it actually is making it more problematic. It adds another layer of trust. Not only are we required to trust the person we're trading with, we're now also required to trust the exchange itself. So far, it is proven with sufficient evidence that exchanges cannot be trusted however huge they are.

The issue of trust is the strong factor that we struggle with on the P2P level. Yes bitcoin in it decentralized system eliminated this aspect of third party transaction if all things are equal but just that human selfish factor that breeds distrust. But a P2P is quite successful with bitcoin transaction if both parties eliminate that distrust. For example there are some P2P local groups were with or without the third party escrow service, some parties still transact successfully without distrust which is the original bitcoin decentralized system.

[irhact]

One of the reasons why I like bitcoin is that it's decentralized, and you can do a P2P transaction with another bitcoin holder without any exchange being involved. But for convenience, transparency and scams that are associated with P2P, you don't have much choice but to patronize the services of these exchanges.

You don't need to patronized the service of exchange for transacting with Bitcoin, we have companies that specialized in doing just that but they're centralized and just like exchanges and that's the disadvantage of using them. Many individuals don't have trust in decentralized platforms and that's the problem, they believe in third party system because they're used to trusting the banks. The third party companies in the industry are operating like the banks and that's why they're been trusted.

Don't say we don't have choice because we have choices but we refused to use them, nobody is forcing businesses or individuals to rely on third party companied that operate as middle men but we choose to use them. We can carry out transaction without needing them.

[bayu7adi]

The involvement of third parties has become indispensable, especially within the cryptocurrency exchange market. We all comprehend the formidable challenge of trading Bitcoin at market rates. If peer-to-peer (P2P) methods could offer a heightened sense of security devoid of intermediary agents, it might just proffer the solution we've been seeking.

Binance emerges as a bearer of high trustworthiness. Their mission entails transforming this platform into a global exchange thoroughfare. While entering Binance remains optional, its allure surpasses the somewhat intricate and potentially fraudulent-prone landscape of the P2P approach that has persisted hitherto.

[sana54210]

I think that exchanges simply play a different role and thus are very likely to stay. A person can send BTC from one address to another, and there's zero need for an exchange in that situation. But if you're a trader, you need an exchange, and centralized exchanges might be convenient for that. If you want to buy or sell BTC for fiat, that also often requires an exchange, although it doesn't have to be a place like Binance where they store your money. I, for one, usually use local exchanges where you, for example, send BTC to a certain address from your wallet and get a transfer onto a bank account, so nobody is storing anyone else's funds in this situation.
Also, if we're talking about active use of Bitcoin for payments, a custodial wallet can be more convenient if it's widely used because that allows 'instant payments' and very low fees.
I think it should just be accepted that there are some use cases for intermediaries, and that they are not going to disappear.

I don't either see the possibility of centralized exchanges going away soon because of the role that they play in the industry in terms of trading future contracts/leverage, They play the role that the forex brokers play in the forex industry, and taking them out of the picture regardless makes no sense, we have decentralized exchanges and self custody wallet, people can always run transaction without third-party.

That is mainly because they are doing a great job and people like to use them. I mean there is an understanding that if they were doing a terrible job then nobody would use them, but we see that they are actually doing a good job so why would anyone want to use something else instead? This is why it's quite important to realize that we are going to end up with centralized exchanges keep being the driving engine for the crypto world.

It is obvious that we are not going to end up with a good thing, we should be considering that as a trouble when the time comes. Hopefully it will be soon that bitcoin will start to go back up again and we are going to see how much centralized exchanges are helpful in that regard when you want to trade quickly.

[Bananington]

Well, trust is difficult to earn. And it's often advised not to give it to anybody. We don't easily trust. But does an exchange offer a solution to this? From a certain viewpoint, it actually is making it more problematic. It adds another layer of trust. Not only are we required to trust the person we're trading with, we're now also required to trust the exchange itself. So far, it is proven with sufficient evidence that exchanges cannot be trusted however huge they are.

The issue of trust is the strong factor that we struggle with on the P2P level. Yes bitcoin in it decentralized system eliminated this aspect of third party transaction if all things are equal but just that human selfish factor that breeds distrust. But a P2P is quite successful with bitcoin transaction if both parties eliminate that distrust. For example there are some P2P local groups were with or without the third party escrow service, some parties still transact successfully without distrust which is the original bitcoin decentralized system.

Perhaps the volume of funds might be a very good reason why the use of middle man is necessary in some cases and not in others.
I for one would like to have a third party involved if I am to move a huge fund across border, just so I am sure I don't fall in the trap of paying into the wrong address that may be occasioned by a bug or malware, when copying and pasting address from my clipboard.
An exchange that is good as an intermidiary has provided jobs to people and am sure the fees won't be as high as using the centralized fiat system if we were to compare also.

[Stedsm]

Actually, it is said that how the trades will go depends upon the intentions of that middleman so be it an exchange or a single person or a group of people, what matters is the trust factor. Let's say someone brings you some business and you're earning through it, then I don't think there's anything wrong on that person's end to charge you something out of it or for it. The same way, exchanges are a source of trust atm which is why traders go through them to buy and sell crypto and in between, they trade their assets to make more money with it and as that service is being provided by the exchange, why won't they even charge you on the transactions you do by trading there? That's how they'll keep their servers upgraded and provide you with the best services, right?

[stomachgrowls]

Well, trust is difficult to earn. And it's often advised not to give it to anybody. We don't easily trust. But does an exchange offer a solution to this? From a certain viewpoint, it actually is making it more problematic. It adds another layer of trust. Not only are we required to trust the person we're trading with, we're now also required to trust the exchange itself. So far, it is proven with sufficient evidence that exchanges cannot be trusted however huge they are.

The issue of trust is the strong factor that we struggle with on the P2P level. Yes bitcoin in it decentralized system eliminated this aspect of third party transaction if all things are equal but just that human selfish factor that breeds distrust. But a P2P is quite successful with bitcoin transaction if both parties eliminate that distrust. For example there are some P2P local groups were with or without the third party escrow service, some parties still transact successfully without distrust which is the original bitcoin decentralized system.

Perhaps the volume of funds might be a very good reason why the use of middle man is necessary in some cases and not in others.
I for one would like to have a third party involved if I am to move a huge fund across border, just so I am sure I don't fall in the trap of paying into the wrong address that may be occasioned by a bug or malware, when copying and pasting address from my clipboard.
An exchange that is good as an intermidiary has provided jobs to people and am sure the fees won't be as high as using the centralized fiat system if we were to compare also.

In talks about conversions from crypto to fiat then we do prefer on making use of that p2p system which its true that when it comes to fees or whatever deductions then there's no such thing plus you could really be able

to receive it out without any issues as well. This is why it cant really be blamed out on why people do really love on making use of these services despite that we do much prefer about decentralization. The convenience
and the swiftness of transactions plus having that less fee or none is the main reason on why we do really still prefer on making use or considering about these stuffs. It isnt really that we dont have no choice since
there's still option for us to deal with those decentralized or totally anonymous transactions but we know that risks on dealing up with random people on the internet is really that risky or something
that we cant really that able to assure.

This is why we would really be considering out on touching up these platforms because you would really be going on things which are convenient and at the same time it is really that less risky.
Although in exchange of that will definitely be talking about your own privacy but well it isnt really that an issue for most people.

[Kelward]

There some most cases where you may deal without involving the middle man, which we can call it escrow because that is the function of p2p trade on any exchange. They hold the funds in between and when is initiated and the receiver confirm his payment then the escrow holder releases for the sender, but from my little research over here I noticed there are some reputable members you can deal without having to go through escrow service for them to hold funds while the business transaction is settled. So partially people across this forum can deal with each others after haven developed trust.

Truly as you have noted, in this forum for example, there are reputable members that you can exchange your bitcoin with fiat, especially in local boards. Some of these trusted members stands as escrows in the exchange of bitcoin to fiat between members in the forum. Although this P2P transactions is limited to trusted people in a group, so reputable exchanges still plays their vital roles as the middleman or third party in exchange transactions.