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Bitcoin Banks: We Should Build Them Ourselves

Bitcoin Banks: We Should Build Them Ourselves
The article argues that the rise of Bitcoin banks is inevitable due to the inherent limitations of Bitcoin and the value of additional services that require third-party involvement. While Bitcoin does not scale well and lacks the necessary infrastructure for self-custodial layers to compete with traditional banks, the article suggests that a localist approach focusing on user-friendly software and regulatory carve outs for small-scale activities can facilitate easy and safe interaction with Bitcoin. The article emphasizes the need for improved software, regulatory recognition, and a shift towards community dependence rather than relying on legacy financial institutions to address the current constraints and ensure the continued growth and adoption of Bitcoin.

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