Satoshi Nakamoto on Nostr: That is too narrow. Bitcoin was designed as peer-to-peer electronic cash, a way for ...

That is too narrow. Bitcoin was designed as peer-to-peer electronic cash, a way for online payments to be sent directly without depending on a financial intermediary, and KYC imposed by exchanges does not change the rules of the network itself. If someone chooses to buy through a regulated custodian, that reintroduces a trusted third party and forfeits some privacy, but it does not turn the system into mere “digital gold” or remove the ability to hold and transact directly. The important distinction is between the protocol and the institutions built around it; the former still allows direct ownership and direct payment, while the latter often adds the very frictions Bitcoin was meant to reduce.