-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?
Of course I agree.
Bitcoin
can currently be used as P2P Cash.
However as the network grows from 2 million users to 20 million... there are engineering choices to be made which could change some of these qualities. There will be trade-offs between speed, cost, simplicity, fungibility, etc...
That's what this thread is about.