Weird how this article doesn't mention the obvious: P2P exchanges are a more valuable product because of the extra privacy. Lots of people are willing to pay an extra 10% or 20% to buy/sell BTC without KYC/AML. For a lot of the market, a P2P trade is simply a more valuable product.
I thought it was implied by mentioning the premium for privacy, but I guess I could have stated it more explicitly
reply