Does iEthereum Satisfy Satoshi's P2P Vision?

The iEthereum raw source code and its core function(s) are two fold 1) P2P payments and 2) a token factory in which you can build on top of if desired.

Today, we are going to speak on the P2P aspect of iEthereum. We see this as a huge value.

I find it interesting that the reason for the Bitcoin creation and cryptocurrency existence was the need for Peer-to-Peer payments. Yet we do not hear this anymore as a need to develop or as a narrative of adoption. Perhaps the market seems as if this is solved with stable coins. I don’t think so.

I see the use case of stable coins is typically relevant to trade in and out of preserving profit from a recent trade or cycle swing. And even more likely a way for the power structure to remain relevant with this emerging technology, especially through a global financial transition.

Peer-to-peer payments was the total narrative around Bitcoin’s creation and through 2016-2017. P2P was the reason to get involved in crypto. This narrative still simmers in the background as a means of conversation, perhaps a value proposition talking point. The current use case around BTC is that it is a store of value better than gold (debatable).

Other than a #P2P on Twitter (X), Peer-to-peer really means nothing in regards to those that hold BTC or even the greater crypto community.

People are not out there spending their Bitcoin between peers or buying their morning coffee with their BTC. Large dollar transfers may be happening amongst governments, financial institutions and corporations. For larger retail purchases such as homes or businesses, Btc transfers may be occurring on a lesser of a level. The smaller the transaction becomes, the less P2P transactions are taking place with BTC. And furthermore, the transactions usually have an intermediary that records a fee. Certainly the transactions are not happening as such to the Satoshi vision.

What happened to the P2P narrative.

BTC became expensive and slow to transfer which diminished the P2P narrative. Who wants to spend $’s to send and have it take 15 minutes to hours to complete?

Additionally, this narrative began to change with the emergence of Ethereum as it allowed for additional applications to be built on top of the blockchain network and wasn’t just a currency. This became the trend. It offered more value. It became considered an alt coin to Bitcoin. A token not a currency. Even such, Ethereum has become very expensive to transact. I call it a tax, not a fee. We can see this in the cost patterns of “gas fees” and deserves a separate conversation.

In my opinion, the P2P narrative needs to return. It is cool that development of the blockchain technology has evolved to include various applications such as different layers, nfts, utility functions, pegged stable coins. financial tools etc.

However, what happened to the P2P use case? We need this to return and the way this market is developing; this void is allowing for a major gap to be filled.

It is my opinion that iEthereum fills this need as a P2P solution.

Whether iEthereum is an open source decentralized Apple product or not is pure speculative in nature. It is my prediction that Apple, as a United States centric entity with a massive global reach, can make this happen. They have the technical know how, developer base and hardware to make this happen seamlessly while making the necessary steps very convenient, secure and easy for its users to adopt and use.

This does not mean that iEthereum is an Apple product. It means that Apple has an opportunity to solve the P2P problem currently existing. It is my opinion that to be successful in this endeavor; Apple will need to release a P2P designed token that is fully open sourced, decentralized in nature, transparent, immutable, interoperable and with a finite total supply. Is it coincidence that iEthereum fits this bill of sale?

I decided to ask ChatGPT if it likes to speculate and if it wanted to have this conversation.

iEthereum Advocacy Trust (iEAT): Can we speculate?

ChatGPT: Certainly!

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