>Well, everyone has their own bank account. There's a lot of potential there to just transact directly The technical problems with that are much less important

>Well, everyone has their own bank account. There's a lot of potential there to just transact directly The technical problems with that are much less important than the legal problems. It's likely that the IRS will maul users (unless they report every transaction as a tax event!), and the bank may refuse transactions. Users may even ask the bank to refuse transactions, and then your collateral isn't really a collateral.