A Bitcoin bank is looming in the horizon - is this a sell out?
A Bitcoin bank may soon be on the way
If Craig Wright (aka Satoshi Nakamoto) has his way he may soon be breaking ground on a Bitcoin bank of sorts. Craig wants Bitcoin to the vehicle for peer-peer banking. Craig has long held this vision and this is just one step further into realising his dream and completing the roadmap he crafted in 2009.
But hold on, didn't Craig invent Bitcoin to avoid the banking system?
Isn't this just a sell out..whats going on?
Yes and no, Craig is a realist (amongst other things) and he always knew that in the long run a bank of some kind would be needed. He tried to set up a Bitcoin bank many years ago but ran into trouble. But he is going to have another try. This time he has some interesting partners, and this time his slate is clean.
Craigs drive and passion will see this through, so I'm sure in the not too distant future we will have a Bitcoin bank, but not in the true sense, it will be a bank for the people, they will still retain control. So not really a sell out, perhaps this is the best thing that could happen for Bitcoin, as long as Craig's ego doesn't stuff it up!
This is all great news for Bitcoin, but which Bitcoin??
This is going to be very interesting!
A bitcoin bank where one could know and completely control one's own funds might just replace the routine old bank account. It would be immune to banking failures and bank runs. Upvoted.
Thanks. Craig got the timing right for Bitcoin and now he has the timing right for a Bitcoin bank. If this really takes off and we do enter another financial crisis we may be able to ride it out!