Quote from: Mrbluntzy on Today at 10:39:57 PM

Quote from: we-btc on February 28, 2024, 09:39:37 PM

Fast forward 16 years and almost all Bitcoin transactions are run through third parties. To buy Bitcoin most people use exchanges which you must KYC on. To store Bitcoin most people use wallets that require the use of 3rd party nodes for transactions.

Bitcoin transactions may be running through third parties exchange or wallets but most of those centralized exchange have also made it easy for fast accumulation of Bitcoin in some part of the world like in my country. It have helped some people to even buy Bitcoin more faster. I don't know how to express everything I wanted to say but in a short word my country people are using centralized exchange to buy their Bitcoin and they are more familiar with its use. Most of those exchange have aid a wide adoption of Bitcoin. How many non third party exchange do you recommend for use and how popular are they?

The issue I am trying to shine a light on is that transactions with a 3rd party intermediary defeat the purpose of Bitcoin being a peer-to-peer network. If centralized exchanges provide easier access to Bitcoin that is great but if you want Bitcoin to provide the decentralized freedom it was designed to facilitate then you have to use your own node. Will people transition away from these centralized 3 party transactions after their initial purchases? Only if they understand why this is important. It is important to understand that it is not in the best interest of the 3rd party to promote peer-to-peer transactions.

All 3rd parties, whether it is a wallet, exchange or bank will attempt to keep their customers using their service. This propaganda is what is driving adoption of these trust based bitcoin transactions.