Why P2P series - Chapter 1, The origins

The origins of Bitcoin

Dear peaches, as you may already know, our app allows users to buy Bitcoin P2P (peer to peer, or peach to peach as we prefer). But, even if many people have heard those words before, have you ever stopped to think what that even means?

The basic definition is pretty obvious, but in the bitcoin space, many people are still buying Bitcoin using services that require verification of personal information, aka VEXs*, thus tying the Bitcoin bought to your identity. Which makes us wonder: have we (bitcoiners) really understood what this is all about?

In this series of blog posts we will dive a little bit deeper into what it means to use bitcoin P2P, and some of its advantages.

In today's chapter, we want to briefly explore how everything started.

bitcoin whitepaper

Bitcoin isn’t something that randomly appeared. It’s conception was founded in the fact that the money masters (governments and central banks) played their game until they reached a point were it wasn’t sustainable anymore. Even if the propaganda machine will tell you that “external problems” are the cause of your loss of purchasing power… in the end we know that’s not true. Their incompetence and greed led us where we are today.

When Satoshi launched Bitcoin, he described it as “Peer-to-Peer electronic cash”, a description that wasn’t chosen arbitrarily either.

Money is the best tool that humans have found to exchange goods and services between them, and P2P is the purest expression of such an exchange.

Satoshi chose to express bitcoin as a P2P electronic cash due to its simple nature; a tool to exchange value, without the possibility of either party manipulating the exchange.

Unfortunately, some business models (VEXs) have flourished, which have ended up (almost) destroying the P2P model that satoshi proposed.

Most of those business models have burned themselves to the ground by their greed. Yet, some still remain, fooling newbies into thinking that their services are legit, while actually completely breaking Satoshi’s new model for some quick profits.

We founded Peach with the mission to bring Bitcoin back to its origins, by creating an easy way of exchanging Bitcoin P2P and helping users understand that this is a better way of using Bitcoin. All while (re)learning self-custody, self-responsibility and money management. We believe that there is a better way of using Bitcoin, and we believe that people can use it as a tool for real freedom when given the right means and education.

Bitcoin: A Peer-to-Peer Electronic Cash System — Satoshi Nakamoto, Bitcoin whitepaper

Dear peaches, thank you for reading this far, this was the first of a full series of blog posts where we'll fall down the rabbit hole of p2p. If you want to receive updates about the next posts, feel free to subscribe to our mailing list.

Final Notes

If you want to know more about Peach features, or read some of our other articles, you can find them here!

How to Recover Bitcoin Wallets Using a Seed Phrase

How to Fund Multiple Sell Offers

How to buy and sell Bitcoin with cash using Peach

How to add a new payment method on the Peach app

Peach expands to the Global South!

Making our Peach-API Public

Full Wallet Functionality

What is GroupHug?

Why P2P series? Chapter 1

Why P2P series? Chapter 2

Why P2P series? Chapter 3

Why P2P series? Chapter 4

Peach x meetups

If you want to know more about us, check out or socials, or simply contact us (use our PGP key if possible) we'll be happy to hear from you!

Telegram, Discord, Twitter, Instagram

Keep spreading the Peach word, who knows when you'll find the match of your life!

*shoutout to @okada_blue for introducing the “VEX” terminology, aka; Verification Exchanges in his article The Value of p2p Bitcoin exchanges

April 12nd, 2023

Tagged with:education

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