Post
Topic
Board Bitcoin Discussion
Re: UK banks' innovation render bitcoin pointless (?)
by
Kazimir
on 04/08/2015, 13:32:46 UTC
UK banks now enable, with most recent IOS apps:
- moving money from bank to bank effectively instantly (no fees).
- move money to a mobile number, using Paym, bank - > mobile number www.paym.co.uk  (I think no fees)
- enable Apple pay sync (no fees)

I find it very hard to see how bitcoin can become further adopted in the UK given these and other advances. Moloch has rumbled, Moloch has delivered. Anyone disagree?
Disagree.

I still read "bank" (i.e. staying dependent on them) in every sentence. The whole point is we don't need banks anymore.
Also, "in the UK" is a very limited field of play. This is 2015, we have the internet now, countries / regions / borders / etc should be no longer relevant. It's the old fashioned banking and payment system that is still imposing these restrictions on us.

But even worse is the fact that, despite these "innovations", banks can still create money out of thin air. And continue to do so. If people would actually understand how this sytem works, everybody could draw the conclusion that his is modern form of slavery: they do effectively nothing, we work our entire life to pay rent on money they created at the press of a button.

If the postal services would innovate and deliver letters within one hour, free of charge, would people still be using email?

For money, all these middle men or 3rd parties or service providers are no longer necessary, and definitely no longer desirable.