Why Bitcoin cannot be a Bank?

[RockBell]

Currently, bitcoin is already replacing fiat in some parts of the world places like Elsavaldor and some African countries where most individuals receive bitcoin as a payment method one thing we all fail to understand is that banks are centralized and have so many defaults like bank charges a lot of failed transactions, while bitcoin is more of decentralized with a lightning transaction, all is a matter of time were people trust will go fully into bitcoin, when it comes to finance trust and full legality matters that is what banks have they have legal recognition from the government, either with or without government bitcoin will still operate. since elsavador has taking a step.

[mv1986]

Currently, bitcoin is already replacing fiat in some parts of the world places like Elsavaldor and some African countries where most individuals receive bitcoin as a payment method one thing we all fail to understand is that banks are centralized and have so many defaults like bank charges a lot of failed transactions, while bitcoin is more of decentralized with a lightning transaction, all is a matter of time were people trust will go fully into bitcoin, when it comes to finance trust and full legality matters that is what banks have they have legal recognition from the government, either with or without government bitcoin will still operate. since elsavador has taking a step.

It is still a far way until you could say that adoption is happening on a large scale. I doubt that a lot of people use Bitcoin for everyday payments as there is still the speculative hope (and will probably be the case for many years to come). Bitcoin's transaction capacity is still relatively limited to be honest. It is not like millions people around the world could use the network without running into congestion or with relatively low fees. There is still competition for your transaction to be included in a block. Then you have the capacity problem on the one hand, and on the other hand it is the fees that make Bitcoin not suitable for real micro transactions.

[Lanatsa]

Deceiving newbies with such a statement won't get Bitcoin the required recognition. It would only lead to more confusion and uncertainty as Banks have done for so long. Such a statement from a Bitcoin influencer would only tarnish the image of Bitcoin. Mcafee was known for such statements.

"BE YOUR OWN BANK"

This statement wasnt really that a lie but talking literally then it cant be possible.I hate to admit but we do still need up these institutions for these functions but of course Bitcoin wasnt really created to replace Banks but rather it is really just a digital currency which does have those features which do opposes banking system and fiat itself and this is why it did really get that much recognition and attention and see
on what it had become as of this moment or point.This is why lets not really that have that kind of idea in our minds because Bitcoin was never intended to replace banks in the first place.This is why
lets just stick on what it is and continue to adopt and make use and hold for investment or earning opportunity.There's lots of options to make.

[Hamza2424]

Bitcoin cannot be a bank huh ? that sounds weird previously I heard topics bitcoin valuation, Bitcoin as a store of value, and Bitcoins as a Global asset. and Bitcoin the freedom? Bitcoin the P2P digital payment system ? and Medium of exchange topics and even some of them are covered by me as well. keep it simple Bitcoin is the P2P medium of exchange. Hope so got it..

If you want to cover its attributes and future potential-like things then do something rather than this because Banks have nothing similar to Bitcoin, they are shady and centralized. They need KYC if they want to access all the financial services the Bitcoin all you need is a paper wallet and an internet connection rest to the things you know. As a Bddy above said "Be your Bank", follow it.

[nullama]

Bitcoin cannot be a bank huh ? that sounds weird previously I heard topics bitcoin valuation, Bitcoin as a store of value, and Bitcoins as a Global asset. and Bitcoin the freedom? Bitcoin the P2P digital payment system ? and Medium of exchange topics and even some of them are covered by me as well. keep it simple Bitcoin is the P2P medium of exchange. Hope so got it..

If you want to cover its attributes and future potential-like things then do something rather than this because Banks have nothing similar to Bitcoin, they are shady and centralized. They need KYC if they want to access all the financial services the Bitcoin all you need is a paper wallet and an internet connection rest to the things you know. As a Bddy above said "Be your Bank", follow it.

I think they're pointing out the idea that Bitcoin is hard money, and basically you cannot just create more Bitcoin out of thin air, which is what banks do these days.

In that regards, Bitcoin cannot be a bank, in the modern sense. Because you can't just loan it to someone else and add more Bitcoin from thin air to yourself.