Bitcoiners shouldn't sit around and wait for fiat banks and financial companies to offer services built on Bitcoin, we should do it ourselves.
This is actually a pretty cool opinion piece, I definitely like the idea.
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40 sats \ 3 replies \ @TheMorningStar 16h
I've seen ads for Xapo Bank. Isn't that a solution?
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5 sats \ 0 replies \ @south_korea_ln 13h
I heard some people complaining about their 1000% price hike. Something like a 1000-dollar membership fee per year, from 100 dollars before that. Clearly going for the OGs with a big stack.
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0 sats \ 0 replies \ @DarthCoin 12h
No. Is a crap shitcoin bank
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0 sats \ 0 replies \ @scatman 13h
I keep getting commercials for them...
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229 sats \ 7 replies \ @k00b 18h
Kind of sad he didn't mention Alby Hub, Galoy, Cashu, or Fedimint which are more recently working on this stuff. Let alone Custodia, which while maybe not friends-and-family-local in nature, is a bitcoin bank in the traditional sense in addition to being a full reserve fiat bank.
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179 sats \ 0 replies \ @Aries 18h
Probably not familiar with Alby Hub. While they did mention LNBits, it has a lot more advanced features. For onboarding and ease of use, Alby Hub is the way to go. With the Alby Go app, you have two buttons, send and receive, and you can get a lighting address too. Anybody can learn to use it.
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21 sats \ 4 replies \ @Aardvark OP 18h
Do you expect anything to get as simplistic as the author hoped for in the near to medium future?
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130 sats \ 3 replies \ @k00b 18h
Not if people like him (a bitcoiner's bitcoiner) aren't using or at least staying aware of the existing solutions.
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21 sats \ 2 replies \ @Aardvark OP 18h
From my perspective, there's just too much shit to know it all.
Maybe in time...
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30 sats \ 1 reply \ @k00b 18h
I don't expect everyone to be clued in. It's just that when someone like him gives out prescriptions, maybe he should be.
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28 sats \ 0 replies \ @Aardvark OP 17h
That seems like a fair point, I certainly wouldn't publish an article without knowing what I'm talking about....
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0 sats \ 0 replies \ @Bell_curve 16h
Bitcoin Magazine never fails to disappoint... again
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107 sats \ 1 reply \ @LNPLEB 17h
fuck the Jamie Dimons of the world, we should be the bitcoin bankers not these fiat maxis.
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100 sats \ 0 replies \ @DarthCoin 12h
yes indeed
As i explained in many guides:
- https://darth-coin.github.io/merchants/private-banks-over-ln-en.html
- #330346
- #701233
- #279712
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50 sats \ 2 replies \ @BlokchainB 17h
I liked this article and he’s right!! But the tools just aren’t there yet
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0 sats \ 0 replies \ @DarthCoin 12h
https://darth-coin.github.io/merchants/private-banks-over-ln-en.html
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0 sats \ 0 replies \ @Aardvark OP 17h
I imagine things will keep getting easier to use overtime.
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5 sats \ 0 replies \ @Solomonsatoshi 13h
You need banks to hold your funds and transfer them- oh but wait Bitcoin does that- so you don't need banks for that anymore.
You need banks to provide finance- but with Bitcoin people have more funds and are less reliant on debt- what may be needed is intermediaries of some sort who provide credit with the Bitcoin funds depositors provide, or people learn to provide finance in a more crowd funding manner where the intermediary enables this...or people learn to fund projects more directly- you have a project and seek funding and offer terms and security to people you know who have funds they want to invest...and you profit share accordingly.
Ultimately, hopefully Bitcoin should reduce the need for banks considerably...and we all gain more financial sovereignty.
The more we can eliminate these rentseeking middlemen usurers the better IMO.
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0 sats \ 0 replies \ @SwapMarket 11h
Banks are regulated entities, with AML/KYC and tax reporting. Bitcoin way is a network of anonymous nodes.
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0 sats \ 0 replies \ @DarthCoin 12h
These guys never read my guides?
https://darth-coin.github.io/merchants/private-banks-over-ln-en.html
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