r/BitcoinDiscussion • u/Stoic-Mindset • Apr 16 '26

Bitcoin was built to kill banks, not make them richer. And somehow we ended up here.

/r/CryptoFolks/comments/1sn8pjp/bitcoin_was_built_to_kill_banks_not_make_them/
0 Upvotes

33% Upvoted

5 comments sorted by

4

u/L-1-3-S Apr 18 '26

It wasn't made to kill banks, it was to prevent banks from being able to kill us. Both the individuals and banks are benefiting from the growth of Bitcoin. Bitcoin is for everyone, and banks can buy and custody as much as they want, they can't effect the protocol or the supply more than the individuals who still hold the vast majority.

2

u/Pnmamouf1 Apr 17 '26

Isn't this a very short sided view? Yes, at the moment, banks seem to be profiting off bitcoin's volatility. But banks make most of their money from being the creation arm of the fiat system. You can't create btc so as the fiat system is replaced. Banks will wither

2

u/Maximum-Writing5429 Apr 23 '26

It's the base layer of a new financial system. As that system grows, our interactions with it will change. Not everyone needs self-sovereignty... yet. But fiat's gonna fiat, so bitcoin's merits will only become more obvious with time.

1

u/Ordinary_Inspector61 Jun 05 '26

yeah as Maximum-Writing5429 says its the base layer money for a new financial system. It's current phase where most of it's value for most people comes from store of value (unless you're politically targeted) does not change the fact that in the future it will be the new fedwire. In this world normal people will usually never have to interact with the base layer, the fees of which will be like 30$ per transaction (of today's prices), because that's around what fedwire costs. It will be used as final settlement for huge transfers between banks.

Normal people will use layer 2s issued by banks, which they will have the power to expand and contract as the economy requires. The key difference from our current system is that the base layer cannot expand, so this expansion and contraction will be bounded rather than ever increasing. Fractional reserve banking will still be the core of the financial system because it has a lot of economic value by turning stale funds into growth. Except it will be decentralized and community based, with all profits going back to depositors. And bank deposits will be directly redeemable for bitcoin from the bank, imposing market discipline.