OP basically described how shady fractional reserve banking is. But I'd say that thinking in terms of masses of people storing Bitcoin in banks is probably a fu

OP basically described how shady fractional reserve banking is. But I'd say that thinking in terms of masses of people storing Bitcoin in banks is probably a fundamental misunderstanding of how Bitcoin can and should be stored. There's no genuine need to ever send Bitcoin to a bank for safekeeping. It safely exists in the blockchain so long as you have your keys. And unlike other types of assets, you don't need a bank to transact with Bitcoin. You absolutely need some kind of secure vault to safely transact in large quantities of gold. You absolutely need some kind of secure vault to safely transact in large quantities of physical cash. You absolutely need some kind of processor to handle checks. You absolutely need some kind of processor to handle credit cards and wiring money around. But with Bitcoin, everything exists in a blockchain. You just need to hang onto your keys to perform the main function that a bank performs. (And with smart contracts and the like, you should be able to use assets like Bitcoin as collateral for many kinds of loans as well) Banks are largely no longer needed in the future if crypto ever achieves real widespread usage and develops as it should. No wonder there's so much derision directed against it by authoritarians who crave control over others' lives.