Post
Topic
Board Bitcoin Discussion
Re: Why does Bitcoiner still support the use of centralized exchanges?
by
CryptSafe
on 25/04/2023, 11:44:24 UTC
I did some research on Bitcoin because I was interested in it, and I discovered that the key principles of Bitcoin are peer-to-peer, anonymity, pseudonymity, decentralization, and operating without a middleman to ensure that Bitcoiners can have financial freedom. However, despite knowing that Bitcoiners adhere to these tenets, why do some Bitcoiners act contrary to them? Why do they continue to support centralized exchanges, use them, and retain their Bitcoin there?
I really see your points as you have said. Although it is true that bitcoin was invented for such purpose and it is in its course of fulfilling the sole reason it was invented. Come to talk of bitcoin peer to peer transaction, I believe a peer to peer transaction definitely would require two parties meeting to do transfer one on one which do not also guarantee ones safety of the account holder and it does not reflect the pseudo or anonymous transaction for which Satoshi Nakamoto clearly stated.

 Although CEX are not  pseudo or anonymous and they demand for kyc before depositing with them but the peer to peer with the CEX are anonymous and ok to go with just as the DEX is.

Do not get me wrong and also do not get things twisted. The CEX have played a big role in aiding the far and wide spread of Crypto currency including bitcoin to a global scale purchase and accessibility. Without the CEX and DEX, bitcoin and other Crypto currencies would have been limited in circulation in speed compared to the initial time bitcoin came to existence.

 So in all sense,  I believe someone people wants to remain anonymous through that means by dealing with CEX and DEX rather than doing a peer to peer or a one on one that would reveal their identities an possibly keep their wallets activities on track by their counterpart.