The inevitability of Bitcoin banks is underscored by existing legacy institutions beginning to integrate Bitcoin into their offerings, along with new banks targeting cryptocurrency users. Despite challenges like Bitcoin's scalability, the demand for services involving social trust, such as debt, sustains the relevance of traditional banking models. Addressing the need for user-friendly software and local engagement strategies is vital, as is the advancement of self-custody solutions. Both technical development and advocacy are paramount to creating secure, accessible financial systems surrounding Bitcoin.
Bitcoin banks are going to happen as existing banks start offering services and new banks arise around Bitcoin, indicating the unstoppable evolution of financial services.
Despite Bitcoin's limitations in scaling, people desire services like debt that require involving other parties, making traditional banking solutions still relevant.
A localist attitude is essential for easier Bitcoin interaction, necessitating improved software like LNDHub or LNBits for safer custodial accounts and user convenience.
Technological development and lobbying are both critical to building robust self-custodial layers that can compete effectively with traditional banking systems.
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