Post
Topic
Board Bitcoin Discussion
Re: P2P Cash or Settlement Layer?
by
Lauda
on 19/03/2016, 19:11:03 UTC
-Open, permissionless system. If you have the token, you can use it.
-Mere Possession of the token is enough. No extra proof is required.
-Payments are simple, fast and have low transaction costs.
-Tokens are fungible.
-Payments are irreversible and final.
1) Correct. Bitcoin is censorship resistant.
2) Correct. Owning the private key is everything that is needed.
3) They current are (fees have an unknown/undecided future).
4) Somewhat fungible (unknown?).
5) Correct.

...and for it to be P2P:
-Only the voluntary interaction of the 2 parties to a transaction is required. No third party can block the transaction.
Correct.


Do you agree with my statements?