Post
Topic
Board Economics
Re: No choice but to use the unavoidable middle man, the exchange companies.
by
Mr.right85
on 16/09/2023, 23:50:20 UTC
But for convenience, transparency and scams that are associated with P2P, you don't have much choice but to patronize the services of these exchanges.

You can not eliminate the middle man in businesses, especially in this digital age, be it fiat or cryptocurrencies, because they have come to stay. Big exchanges like Binance, are cashing in on being the middle man in businesses, an unavoidable indirect business associates, in your face, waiting for you to go through them.
Nothing confines you to using a middle man in a p2p transaction.
It’s a matter of instance and convinces.

Remember, the design of cryptocurrency or bitcoin for shorts is to be non refundable and has an anonymous nature to it and it’s usage. Should you chose to forgo your anonymity, you might as well not need an exchange if your client or merchant is known. You meet up and transact physically. That works too.

Where it becomes an issue is with you, wanting the anonymity it provides but still, you don’t want the services of middle men or third party. You’ve got to wake the hell up because, that ain’t possible. You can’t eat your cake and still have it. You e hit yo make a choice on either to use third party services in exchanges and keep your anonymity or you forget the anonymity in the event that you have a means to meet the other party and transact physically.