Post
Topic
Board Economics
Re: No choice but to use the unavoidable middle man, the exchange companies.
by
bayu7adi
on 12/09/2023, 09:08:32 UTC
Honestly, I have more numbers of trades using a middleman than using a peer-to-peer I'm sure all of us here third parties will always be with us, we are so used to it, It applies in many industries it applies in Cryptocurrency.
With this can we now say that bitcoin is not performing the original privacy goal or that it is the human factor that is frustrating it because like you pointed out, third party services in bitcoin is really growing bigger apart from the exchanges, people have taken up this like the brokers and they stand in the middle to execute the transaction like the escrow service. I think the P2P service is not really getting that attention because of trust.
There's no denying that engaging in Bitcoin transactions through third-party intermediaries offers a more convenient experience for a variety of reasons. This convenience stems from several factors, including a more robust orderbook and competitive pricing when compared to conducting direct peer-to-peer (P2P) sales. In some cases, issues related to trust and additional fees have often deterred me from engaging in P2P transactions.

On the other hand, I find P2P transactions to be more convenient when it comes to purchasing goods and services using BTC. Buying from reputable service providers offers protection against fraud and is particularly well-suited for P2P exchanges.