The Universal Crypto Exit Problem

[Agathamay]

I don't think exchanging crypto to fiat is a very difficult situation at the moment an even tough I don't know what you typically want and what country you're in, I wouldn't be able to give a direct response but not withstanding, at this point, I don't think exchanging bitcoin to fiat is supposed to be a very difficult thing to do considering the number of exchanges that are already closing the gaps and you can choose to use the centralized exchange or the decentralized ones depending on what you want.

[Renampun]

Why hasn't someone ever thought about this problem? Can we build a universal exit layer or add a better freedom layer.

Do you mean by building a universal exchange where you can deposit and withdraw to your country's currency easily? I think this idea won't work because regulations in each country are different from one country to another... Each country has its own licensing requirements, KYC and AML rules, so if you force the platform to work in countries that have stricter crypto regulations, the chances that the platform will encounter problems are very high, and the platform could eventually be forced to restrict its services.

[laspol65]

See, many exchanges have added P2P and this service has been providing for a long time, any country can use it to P2P their domestic currency. However, Bitcoin is still not legal in many scenarios but they are not staying away from using Bitcoin but are using it secretly, because the governments of different countries are not legalizing Bitcoin because they are very afraid of it against their fiat currency. Because the people of the country will not try to use fiat currency anymore,
due to which they see this Bitcoin as a threat to the future. So in this situation, those who are using Bitcoin secretly now will use Bitcoin in the future, but Bitcoin investment is increasing day by day but not decreasing.

[Rengga Jati]

We can move crypto across chains, but why is converting it into usable money still so complicated in most countries?

This will depend on the policies and regulations of the country in question. If it is permitted, I am confident that we could easily go ahead with it; however, if it is prohibited, then carrying it out would pose a significant challenge for us.

Main motive to start this Bitcoin was to create an alternative to the Banks. But after a decade when I look back, things were different back then.

In reality, not all of Bitcoin’s primary objectives have been realized. While it may have begun to see global adoption, its progress is hindered by regulations imposed by individual governments. Many countries still prohibit the use of Bitcoin as a form of currency, even though they may permit it for investment or trading purposes.