I know that banks have a bad reputation, but they are in charge of a crucial economic task in a healthy capitalist system: they connect lenders and borrowers; they canalize resources (savings) from people that don't have ideas, to people that have ideas but need resources to implement them. They move the capital trhoughout the economy from those who create it to those who put it to produce wealth.
The success of Bitcoin goes through banks integrating with bitcoin, custodying bitcoins from investors, transferring value using bitcoin's network (instead of shitty SWIFT channels), embracing bitcoin in a regulated, secure, mature finantial network that everyone already trusts.
We don't want to substitute banks by unsafe, unprotected, phone applications that can bankrupt tomorrow like Celsius, Ledn, etc.
And no, not everyone wants to be his own bank: some people wants to pay someone else to do that job.
And yes, DeFi is promising, but it is just that, a promise. Bitcoin is already here and it needs to be generaly adopted fast.
Bitcoin is here to create hard scarcity in relation to weak scarcity provided by Central Banks.
In fact, Bitcoin is GOOD for the banks.
[link] [comments]
Comments
Post a Comment