The Case For Promoting P2P and OTC Growth
We started a telegram community to advance the vision of P2P cash for the world by discussing and encouraging a more direct means of exchanging fiat to Crypto (in this case BCH on-ramping).
Direct exchange!? Red flags yes I know but hear me out.
We aim to reduce the need to rely on popular fiat payment gateways such as credit cards, banks and electronic payment processors to obtain cryptocurrency. This is for a very good reason.
Through out history, a product often only gained mass adoption because the number of retail outlets grew significantly. Exclusivity is not going to result in mass adoption.
There are other factors that drive the need for re-evaluating the current distribution strategy:
We believe that one way governments and other entities censor access to cryptocurrency thereby discouraging and slowing down adoption is to restrict access to the existing fiat gateways. If you can't find an easy way to buy it, you can't get it.
We believe another way adoption is censored in many parts of the world is to make it costly to acquire crypto. The cost of converting fiat to crypto in many parts of the world act as a disincentive to adoption. While an exchange between two BCH holders for instance may cost 1 or 2 cents, most conversion from fiat to crypto may cost at least 1% -3% of the fiat value. This significant hit on one's fiat makes a casual switch of fiat to crypto and back unattractive especially for every day transactions.
Our proposal to reduce or eliminate these challenges involve promoting the growth and expansion of
Peer-to-peer (P2P) trading platforms who have the luxury of not setting fees in percentages.
Over-the-counter (OTC) exchange that encourage existing shops and merchants that have already on-boarded to BCH to also double as (fiat crypto) swapping points. This can be achieved using already existing software and tools.
We acknowledge the regulatory hurdle to promoting OTC exchanges using on-boarded merchants, however, revolutions and change have had to endure some discomfort and often defy restrictions in order to transform society. History is replete with such incidents.
The community needs to commit itself to this cause of having physical outlets dotted across the globe where you can get your crypto like you get your coffee and groceries.
We should continue to invest ourselves in figuring out how to get to the vision of true "peer to peer cash for the world".
Join the discussion https://t.me/BCHP2P
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