Post
Topic
Board Economics
Re: We, bitcoiners, should buy a bank
by
davis196
on 29/12/2020, 07:14:19 UTC

I still see many people being puzzled by BTC, saying it's a bubble, that it's going to crash, etc...
Taking advantage of the huge price rise, I think some early believers should team and buy an existing bank. Not Barclays, nor JP Morgan of course, but there are small banks out there. Imagine a bank owned by bitcoiners, for bitcoiners. It would become an exchange, and it would be the best exchange in the world with the full ability to make Swift and SEPA transfers without the need to use the service of a third party.


This doesn't seem like a solution to me.
Buying a bank doesn't mean that the bank will be allowed to trade cryptocurrencies for SEPA or Swift transfers.
Every bank,no matter how big or small it is,needs permission by the authorities to do business.
I'm not a expect,but AFAIK,payment systems like Swift and SEPA are third party services and no bank can't avoid using them.
By the way,Bitcoin is really in a price bubbles,but there's nothing wrong with that.Almost all financial assets can form price bubbles.Buying a small bank to turning it into a crypto exchange won't make the Bitcoin price more stable.