Post
Topic
Board Bitcoin Discussion
Re: Is Bitcoin Still A P2P Electronic Cash System ?.
by
Z-tight
on 01/11/2023, 23:17:43 UTC
I don't consider Bitcoin as A Peer-to-Peer Electronic Cash System because it has huge disadvantages as a currency for everyday payments, starting from the costs of the payments,
BTC tx's are not too expensive, especially when the mempool isn't congested and you have consolidated inputs. BTC is surely a p2p electronic cash and it makes cross-border payments easier to make.
finishing the time it takes to receive your coins.
Tx's are confirmed ~ 10 minutes on average, it doesn't mean that it has to be exactly 10 minutes but that is the average time, your tx's can even be confirmed in seconds, if you get into a block that is just about to be mined. Your tx would only be stuck in the mempool if you don't know how to use https://mempool.space/ or you don't just want to pay an appropriate fee.
This is one of the major reason why peeps just buy and sell over an exchanger, hold them, profit and stay happy.
There are still enough p2p solutions: https://kycnot.me/
You can buy and sell on p2p exchanges of your choice, or if you want to swap coins, you can use https://exch.cx/ but make sure you move your funds into your self custodial wallet and stay happy and safe.