Scraped on 09/08/2025, 21:21:36 UTC
The biggest advantage of Bitcoin over banks is that it is not controlled by a small group of people who can decide whether or not to restrict depositors' ability to withdraw their money.
But banks are such a well-developed infrastructure that they provide a large number of jobs, and I understand that the more the world progresses, the fewer people you need in the workplace, as processes can be replaced by automation.
But in addition to this, banks help the population a lot through mortgages, which allow many people to avoid renting and pay for an apartment that will eventually become their own. Banks also accept deposits, and they offer a variety of financial products that Bitcoin cannot provide, but this is only temporary.
Original archived Re: Can Bitcoin eliminate local banks?
Scraped on 09/08/2025, 21:17:07 UTC
The biggest advantage of Bitcoin over banks is that it is not controlled by a small group of people who can decide whether or not to restrict depositors' ability to withdraw their money.
But banks are such a well-developed infrastructure that they provide a large number of jobs, and I understand that the more the world progresses, the fewer people you need in the workplace, as processes can be replaced by automation.