“Put yourself into a world in which banks charge $20 to $50 to manage an international wire transfer, but hardly make a profit on it. Conceptualize a world in which banks delay domestic ACH transfers up to three days, in a large part to reduce fraud risk. Imagine a world in which taking on just one new customer necessitates the hiring of another employee. If you’re a commercial bank, these problems are likely all too familiar. Your costs are continuously rising, but your clearing and compliance infrastructure hasn’t changed. Well I have some good news for you: Bitcoin is going to lower your network and compliance costs by 90%, and I guarantee you will be using it within ten years or less.”
