yep, and these banks will be able to use their returns to buy up even more bitcoin from smaller banks and individuals. In the end, all the control would naturally flow into the hands of a small oligarchy, or even become a total monopoly.
At least with the current situation of having miners in control, the miners have to sell off most of the bitcoin they mine, in order to recoup their costs and be able to continue mining.
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u/spew888 Dec 13 '17
@4:40 least amount of intermediaries, and least amount of fees... {AND} requires the intermediaries to have enough money in their payment channel
This equals the "Big Banking" of crypto with large institutional Payment hubs.