This topic is about getting rid of banks.
Bitcoin as cash is getting rid of them already. That's why they hate it.
The idea of banks is not bad. Only the creation of debt out of thin air is. That is why Bitcoin Cash can be amazing, as it will prevent all the bad things, but will allow for the good ones.
Banks are not gone. Think what banks do. Is your private key really only yours if a guy with a wrench comes?
so the function they provide is trusted storage?
The idea of banks is not bad per session. It's the fractional reserve system and its debt based monetary system that is a total abomination.
*bad per se. Fucking auto correct.
If all the things dr Wright is working on will come out soon, bank will not be able to block your funds. Just like exchanges wont be able to get hacked and your BCH get stolen.
Honestly banks will simply be come redundant.
Banks will always be around as long as people want to borrow money, but credit creation will cease.
No problem, banks will just form their own IOU coins, and done! How can't people see this happening?
but banks wont be able to force people to use their IOU coins like they currently do with fiat. right? with competition among money people have to choose to use IOU coin. why would they?
