The UK has some of the worst banking in the developed world - not the best.
The quick-transfer system is only available for certain transactions. Most payments still take a while, and anything that involves a paper cheque still takes at least a week.
As for money laundering and terrorism - it's been proven over and over that it's easier to get a bank account for both than it is to get a bank account as an average Joe.
Not a few banks are knowingly involved in illegal transactions of one kind or another. So giving Bitcoin a hard time for the same thing is hypocritical.
Banks are certainly going to be killed by a global digital currency sooner or later, but it's going to need some kind of independent OpenMoney initiative.
BC is not that initiative, because the creators seemed to believe that starting a digital goldrush was more important than creating a rock-solid and secure peer to peer infrastructure for all transactions.
I doubt banks will still be around fifty years from now. In an all-digital economy they're not just parasitic, they're irrelevant.
The quick-transfer system is only available for certain transactions. Most payments still take a while, and anything that involves a paper cheque still takes at least a week.
As for money laundering and terrorism - it's been proven over and over that it's easier to get a bank account for both than it is to get a bank account as an average Joe.
Not a few banks are knowingly involved in illegal transactions of one kind or another. So giving Bitcoin a hard time for the same thing is hypocritical.
Banks are certainly going to be killed by a global digital currency sooner or later, but it's going to need some kind of independent OpenMoney initiative.
BC is not that initiative, because the creators seemed to believe that starting a digital goldrush was more important than creating a rock-solid and secure peer to peer infrastructure for all transactions.
I doubt banks will still be around fifty years from now. In an all-digital economy they're not just parasitic, they're irrelevant.