Combined global banking market capitalization is well over 7 trillion

Bitcoin allows users to participate in an open system that requires no permission and enables cost-effective value transfer anywhere in the world cheaply, efficiently, with no trust, with no counter-party risk, where transactions can’t be censored and user’s value is moved with programmatic assurance. User’s can also store their value on the world’s most secure monetary network at no cost in perpetuity. Transactions on the network are final and immutable and the rules of the system can never be changed.

It is indisputable that the Bitcoin network is significantly more efficient and more reliable than legacy banking in all comparable functions. We’re not talking loans and credit and all of those services. Just the nuts and bolts of banking – which Bitcoin does so much better than banks ever could hope to.

Bitcoin is the programmatic robot bank in the sky. It works 24/7. It can’t be turned off. Withdrawals can’t be haulted. Funds can’t be frozen. No board of directors or government or institution controls it. The rules can’t be changed. Transactions can’t be reversed. Funds can’t be confiscated. And the finite liquidity of the system is selling for tenths-of-a-cent on the dollar today. Just some bullish thoughts for the day.

submitted by /u/thefullmcnulty
[link] [comments]