Will direct peer-to-peer transactions be possible in future? - page 2.

tee-rex

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Quote from: jurelmartin on June 08, 2018, 10:35:01 PM

It is already possible to send bitcoins peer-to-peer. You can send money to friends and relatives in the form of bitcoins but an exchange will always be needed to buy and sell bitcoins because it ensures trust between two parties.

So I'm just wondering if bitcoin or cryptocurrency should be the future form of our money and it will continue to the future because it has a threat to the banks or it will be stopped again by our own governments of the world just like they stopped the developement of electric cars back when it was first introduced in the market because it was a threat for the oil companies?

You cannot stop progress. Electric cars are simply uncompetitive with the regular ones so far (let's be honest here). If they were real competition, no oil cartel or whatever would be able to stop them. Regarding cryptocurrencies, we already have "direct" peer-to-peer transactions (for the record, peer-to-peer transactions are direct by definition). All we need is a universal acceptance of cryptocurrencies (at least, major ones like Bitcoin) as a means of payment. Then you would not need to convert your coins into fiat to buy a cup of tea, for example. In that case exchanges will be there only for speculators and their likes.

AGD

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Quote from: jurelmartin on June 08, 2018, 10:35:01 PM

It is already possible to send bitcoins peer-to-peer. You can send money to friends and relatives in the form of bitcoins but an exchange will always be needed to buy and sell bitcoins because it ensures trust between two parties.

So I'm just wondering if bitcoin or cryptocurrency should be the future form of our money and it will continue to the future because it has a threat to the banks or it will be stopped again by our own governments of the world just like they stopped the developement of electric cars back when it was first introduced in the market because it was a threat for the oil companies?

https://bisq.network/

tunapa

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Majority has enjoyed the bitcoin peer to peer transaction, we saw how smooth and easy it was, I think people will like to continue enjoying such transaction that avoids third party. The community is growing and it will keep growing. There is no need to panic because Bitcoin and cryptocurrency is here to stay.

chillitabit

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Quote from: jurelmartin on June 08, 2018, 10:35:01 PM

It is already possible to send bitcoins peer-to-peer. You can send money to friends and relatives in the form of bitcoins but an exchange will always be needed to buy and sell bitcoins because it ensures trust between two parties.

So I'm just wondering if bitcoin or cryptocurrency should be the future form of our money and it will continue to the future because it has a threat to the banks or it will be stopped again by our own governments of the world just like they stopped the developement of electric cars back when it was first introduced in the market because it was a threat for the oil companies?

it's starting to be regulated, but generally speaking the ban is not really threat. I'm sure that the only real competitor of cryptocurrencies are crypticurrencies themselves.

Enijesiku Sulaimom

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With my own little knowledge of crypto they can use bitcoin and blockchain tech to their own advantage and they don't need to stop it in order to adopt its tech. Direct peer-to-peer transactions worldwide would be possible in the future with the help of bitcoin, but there will always be someone who prefers transactions mediated by a third party rather than p2p, and for this reason, coexistence of banks and crypto will be useful.

CryptoTamer

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Quote from: ?? on ??

Quote from: jurelmartin on June 08, 2018, 10:35:01 PM

It is already possible to send bitcoins peer-to-peer. You can send money to friends and relatives in the form of bitcoins but an exchange will always be needed to buy and sell bitcoins because it ensures trust between two parties.

So I'm just wondering if bitcoin or cryptocurrency should be the future form of our money and it will continue to the future because it has a threat to the banks or it will be stopped again by our own governments of the world just like they stopped the developement of electric cars back when it was first introduced in the market because it was a threat for the oil companies?

P2P transacion is possible even there is a lot of projects are developing platforms for P2P transactions

Do not compare Bitcoin with an electric car case...! an Electric car is a centralized project and everything centralized can easily be killed by the government through regulation while Bitcoin is a decentralized currency that is not controlled by any company or institution

omorfi

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For faster transactions, P2P is a necessity. But i believe that there is still much time for that for security reasons. Hope to see peer to peer direct transactions feasibility one day.

Tankdestroyer

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Quote from: Jet Cash on June 09, 2018, 02:21:49 AM

Of course direct peer to peer exchanges are possible. In fact, I would trust some of the members here more than I would trust most of the exchanges.

Isn't it already happening with trusted members in marketplace section here in this forum(without escrow)?

Quote from: jurelmartin on June 08, 2018, 10:35:01 PM

So I'm just wondering if bitcoin or cryptocurrency should be the future form of our money and it will continue to the future because it has a threat to the banks or it will be stopped again by our own governments of the world?

IMO they can use bitcoin and blockchain tech to their own advantage and they don't need to stop it in order to adopt its tech. Direct peer-to-peer transactions worldwide would be possible in the future thanks to bitcoin, but there will always be someone who prefers transactions mediated by a third party rather than p2p, and for this reason, I think banks and crypto can coexist.

pooya87

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Quote from: Jet Cash on June 09, 2018, 02:21:49 AM

Of course direct peer to peer exchanges are possible. In fact, I would trust some of the members here more than I would trust most of the exchanges.

not to mention the multi signature capabilities of bitcoin which has opened up a lot of possibilities including a more trustworthy escrow with 2 of 3 multisigs. or even a 2 of 2 multi sig between the seller and buyer can be more secure. all of which makes peer to peer exchange not only possible but also safer.

cryptohopes

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Cryptocurrency has always been a threat to the usual currency and this is the reason that banks and governments of some countries are against it. They are trying to suppress crypto by imposing "bans" on it. But I think this will not help much if people decides to accept it.

asdep

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Yes, I think BTC can be likened to gold, both are something that can not be obtained easily, only btc it is more risky.

hatshepsut93

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Quote from: jurelmartin on June 08, 2018, 10:35:01 PM

It is already possible to send bitcoins peer-to-peer. You can send money to friends and relatives in the form of bitcoins but an exchange will always be needed to buy and sell bitcoins because it ensures trust between two parties.

People use exchanges because they need to sell their earned Bitcoins to get fiat for spending or to buy Bitcoins with fiat that they earn. So, a more correct question would be "when will we be able to go 100% Bitcoin"? Right now it's not realistic to live on Bitcoin only, you'd have to take long trips to even buy all the needed groceries, and sometimes it would be just impossible to buy something with BTC.

In the future Bitcoin adoption should be higher, so in some parts of the world people will have a chance to use only it, but I personally don't think that it will be like that globally, especially if some countries will keep restricting its use.

Earthwood

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Quote from: Jet Cash on June 09, 2018, 02:21:49 AM

Of course direct peer to peer exchanges are possible. In fact, I would trust some of the members here more than I would trust most of the exchanges.

Yes, and it is implemented by bitcoin and blockchain way back. That’s why people are more aware and want to change our old financial systems specifically in trading. The peer-to-peer transactions in bitcoin is already there with blockchain technology. So it is possible.

St4yInTh3D4rk

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"STAY IN THE DARK"

Quote from: jurelmartin on June 08, 2018, 10:35:01 PM

It is already possible to send bitcoins peer-to-peer. You can send money to friends and relatives in the form of bitcoins but an exchange will always be needed to buy and sell bitcoins because it ensures trust between two parties.

So I'm just wondering if bitcoin or cryptocurrency should be the future form of our money and it will continue to the future because it has a threat to the banks or it will be stopped again by our own governments of the world just like they stopped the developement of electric cars back when it was first introduced in the market because it was a threat for the oil companies?

But crypto currency field is decentralized so no one can control it if it tries to kill the banks and fiat money because it is all in the hands of the crypto currency users,if everyone using the crypto currencies in the future then the peer to peer transaction will become possible and that is what the main reason for the invention of the crypto currencies then we can feel the freedom of using our money on our own.

Jet Cash

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https://JetCash.com

Of course direct peer to peer exchanges are possible. In fact, I would trust some of the members here more than I would trust most of the exchanges.

Kakmakr

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Governments can only intervene when there is Fiat involved and that is why they are targeting the on ramp and off ramp at exchanges with their KYC/AML regulations. People will always be able to sell and buy bitcoins on a face to face basis, but centralized exchanges just broaden the available buyer and sellers market.

The decentralized exchanges has also made it more difficult for governments to stop people from trading bitcoins. Grin

The technology will always stay one or two steps in front of government actions. Roll Eyes

bad_apple

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Quote from: BitcoinNewbie15 on June 08, 2018, 10:44:45 PM

As for the title, Direct peer-to-peer transactions are possible. And a third party isn't always needed to sell Bitcoin. There are decentralized exchanges and in personal Local Bitcoin trades.

Quote from: jurelmartin on June 08, 2018, 10:35:01 PM

So I'm just wondering if bitcoin or cryptocurrency should be the future form of our money and it will continue to the future because it has a threat to the banks or it will be stopped again by our own governments of the world just like they stopped the developement of electric cars back when it was first introduced in the market because it was a threat for the oil companies?

Bitcoin is a threat and it always has been a threat to them. They already know this. The thing is, they cant stop Bitcoin. Because of its decentralized nature, it is extremely difficult to stop it. Even if they make laws against it, it would be extremely difficult to enforce those laws due to the anonymous and peer to peer nature of the network. Bitcoin truly is an elegant and beautiful solution/alternative to the fiat system.

I agree. That's why bitcoin is always the topic in medias such as exploiting its negative sides, its risks, what would be the future if bitcoin keeps up to the pace, and the like. However, no one knows what will happen in the future.

theyRmose

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I think for now peer to peer bitcoin transactions are often done by many people, especially ordinary people. For example, when people buy bitcoin through ATM machines using paper money and then use their bitcoin to pay for food or coffee to the merchant it can be said that people have been doing peer to peer bitcoin transactions.

Paul23

newbie

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Well,, maybe it possible to those nation will truly acceptable of decentralized money,to replace their own traditional money in the future ,,but now its hard to say that ,peer to peer transaction would be impossible to other nation (while bitcoin were banned on this nation),maybe it need to be enough time and lawful agreement on that case,while some nation who will try to go and oppose it. It is already recognized in a few countries due to bitcoin is very profitable, and it keeps getting more popular.

BitcoinNewbie15

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Bitcoin isn't a bubble. It's the pin!

As for the title, Direct peer-to-peer transactions are possible. And a third party isn't always needed to sell Bitcoin. There are decentralized exchanges and in personal Local Bitcoin trades.

Quote from: jurelmartin on June 08, 2018, 10:35:01 PM

So I'm just wondering if bitcoin or cryptocurrency should be the future form of our money and it will continue to the future because it has a threat to the banks or it will be stopped again by our own governments of the world just like they stopped the developement of electric cars back when it was first introduced in the market because it was a threat for the oil companies?

Bitcoin is a threat and it always has been a threat to them. They already know this. The thing is, they cant stop Bitcoin. Because of its decentralized nature, it is extremely difficult to stop it. Even if they make laws against it, it would be extremely difficult to enforce those laws due to the anonymous and peer to peer nature of the network. Bitcoin truly is an elegant and beautiful solution/alternative to the fiat system.

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