Can someone please explain to me how a decentralized P2P exchange would work from a user's point of view? I don't want to discuss the technical aspects of it. Let's just assume that part is worked out and trusted for the sake of this argument. What I mean is, it's easy enough to transfer BTC in and out of an exchange. But how does one get their fiat in and out? The only two ways I can think of are by using cash or going through your bank account, neither of which seem useful for a P2P exchange. Can someone break it down for me? How does this help us?
You mention cash or using your bank account. Are you looking for a third way like paypal or credit card? Understandable request but I don't think it can be done because those methods are reversible by design.
Wire transfer should be irreversible by design, but it can be done on the internet. So, my suggestion is in this post:
https://bitcointalk.org/index.php?topic=205796.msg2197907#msg2197907