Post
Topic
Board Bitcoin Discussion
Re: Bitcoin Banks Are Coming. Should That Make You Nervous?
by
leetcoiner
on 11/11/2018, 21:49:19 UTC
This article on https://blockexplorer.com/news/bitcoin-banks-are-coming/ made me wonder... Bitcoin was designed to operate outside the banking system, right? It was created so that you don’t have to trust a bank or third-party. So how does it works if we get Bitcoin banks?

This is impossible, since the Bank implies a centralized asset management system, and bitcoin is a fully decentralized system. Banks can take bitcoin in use, as well as any user of the network and issue it at an interest rate, but it is technically impossible to own the entire system, since it is to impose on all people of the planet earth. The news is fake.