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If my idea proves to be correct, will the government of the country accept it?
1. Will the government of a country ever want their banking sector to be abolished?
2. How will the government collect taxes from the people?
3. If the government can't keep track of people's legitimate money, won't corruption increase?
1. Historically speaking, there were two types of banking in the past: loan banking and deposit banking. Both of these are one of the greatest inventions of humanity, and, obviously, they were not created in a vacuum. People needed banking services, and wanted loans and safe deposits. The problem is not in banks per se, it is essentially a business like any other. The problem is the money they are using. If money, for example, paper receipts, could be easily inflated, debased, counterfeited, that leads to fractional reserve banking and a flawed system we have today. If banks and governments start to use bitcoin instead of unbacked paper, the banking sector will be more healthy.If my idea proves to be correct, will the government of the country accept it?
1. Will the government of a country ever want their banking sector to be abolished?
2. How will the government collect taxes from the people?
3. If the government can't keep track of people's legitimate money, won't corruption increase?
2. Aren't they collecting crypto taxes today?
3. It is a common fallacy. Government control over money only increases the level of corruption.
So in the end we can say that our society is useless without banks. Isn't that so?
Isn't it true that Bitcoin is incomplete without a bank?