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In the world of cryptocurrencies, people are often heard arguing about their preferences for one centralized exchange over another.
You know that you can also exchange cryptocurrencies directly with other merchants without the need to have an intermediary throughout the process?
In the world of cryptocurrency trading, there is a modality known as P2P (or “peer-to-peer”), which offers many benefits that centralized exchanges usually cannot offer to a major sector of crypto- Commerce. For this reason, in this article we wanted to analyze some of these benefits of P2P trading for you in order to learn a little more about this type of market and how you can generate income with it during 2020.
More and better ways to withdraw and deposit:
A greater and wider variety of payment methods is one of the most important significant benefits that P2P exchanges offer compared to centralized exchanges. Centralized exchanges generally only accept deposits and bank transfers. And for this reason these Bitcoin Evolution official website can become quite cumbersome and time consuming when using this payment method.
Furthermore, due to countless other legal regulations in different countries, the current reality is that many banks do not accept deposits (or withdrawals of deposits) if they somehow know that these are linked to businesses related to the crypto world. However, with P2P trading this does not happen as you will be transferring to and from natural person bank accounts that banks will in no way associate with the world of cryptocurrencies. So it is for this reason that you generally will not experience this problem on a P2P exchange.
The Bitcoin author decided to implement a different mechanism than that used by the conventional financial system, known for its arbitrary practices regarding the money supply and its great control over other economic market conditions.
Bitcoin was born, precisely, as a decentralized digital counterpart of physical and centralized money. The validation of transactions between users does not depend on banks, institutions or other entities.
Supply of Bitcoin
The maximum supply of BTC, established in its own code, as well as the reduction of rewards in half every 4 years (halving), provide a way of self-regulation of the asset, preventing anyone from influencing its supply. In that future, Bitcoin Evolution website will only receive the small fees that are added every time a user makes a BTC transaction.
Furthermore, if the supply of Bitcoin had no limit, the cryptocurrency would surely lose its quality. In turn, with no supply limits, miners could continue mining forever.
Similarly, if only supply was limited but without cyclical adjustments in miners’ rewards, in just 8 years it would have reached 21 million. In such a scenario, that would have lasted the first and most promising digital currency of today.
It could be proposed in the middle of the developer community, since Bitcoin is an open source project. However, such a change should be accepted by most nodes.Otherwise, another hard-fork would occur. Some would stay on the original blockchain, others would go to the new one.
On the other hand, manipulating the blockchain to create more BTC out of thin air is already somewhat more difficult, if not almost impossible. Thanks to Bitcoin’s own design and infallible help from mathematics, the forced creation of BTC would be very complex and would not go unnoticed. Any attempt to create Bitcoin out of thin air would be obvious on the network itself, plus it is perfectly feasible to estimate how many Bitcoin are in circulation.
And it is almost an axiom: As the network grows, it becomes increasingly complex to perform malicious attacks and changes.
Furthermore, as Satoshi himself pointed out in the Bitcoin white paper, attackers will find it more profitable to follow the rules than to try to break the system.
Thinking about something that will happen in more than a century is irrational and speculative.
At the moment, miners earn most of their income through block rewards. But when the 21 million Bitcoins are mined, those rewards will no longer be. The big question is whether, when the time comes, these rates will be enough to keep mining activity profitable or not.
