@marketingmonk the Bitwala model may not be purely "individualist" but there is one key aspect that is a huge victory for the cryptocurrency movement. Bitcoin and other cryptos held in trust by banking institutions cannot be used for FRACTIONAL RESERVE LENDING. For banks to be employing this model is a tacit admission of defeat that fractional reserve lending will die with fiat currency.
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The whole point of having bitcoin is holding yourself otherwise you go back to centralising power I see the banksters trying to ring fence btc like they did with gold treating it as an asset instead of money using paper futures to suppress the price.
We can only break free by using it as currency and becoming are own banks.
But after watching the video I must agree, average users just leave money on an exchange, even with a hardware wallet right next to them :(