I see parallels between Bitcoin and 19th century banking.

Bitcoin and Bank Architecture | The Ümlaut

theumlaut.com 27 Feb '13, 11am

I see parallels between Bitcoin and 19th century banking.

When Franklin Roosevelt signed the Banking Act of 1933, he destroyed bank architecture in the United States. Customers of banks insured by the newly-created FDIC no longer had to worry about bank solvency. As a result, the steps banks had previously taken to reassure customers of their solvency were no longer necessary. Chief among these was the construction of a large, ornate, and expensive building, which could always be sold off in the event that the bank’s loan portfolio failed. Almost all of the most beautiful banks in the United States were constructed before 1933. Today, many banks are located in strip malls. These days, whenever I look at these old, pre-New Deal bank buildings, I think of Bitcoin, the increasingly popular cryptocurrency. There are some strong parallels between the Bitcoin economy now and pre-deposit insurance America—most notably, that Bitcoin bala...

Full article: http://theumlaut.com/2013/02/27/bitcoin-and-bank-architec...

Tweets

@elidourado » 21 Mar '13, 11pm
@Stereo_Future From time to time. My Bitcoin tag: [link] And here’s my previous @umlautmag piece: [link]
@stevedarden » 18 Mar '13, 4am
Bitcoin and Bank Architecture [link] When Franklin Roosevelt signed the Banking Act of 1933, he destroyed bank archite...
@EricCrampton » 12 Mar '13, 12am
Nice @EliDourado piece on how an elaborate and beautiful BitCoin bank site is like a 1920s big marble building... [link]
@binarybits » 11 Mar '13, 7pm
Great @elidourado post on Bitcoins and (literal) bank architecture: [link]
@jerrybrito » 11 Mar '13, 7pm
@binarybits Coinbase is an important development in our evolving bitsaga. [link]
@ndebock » 28 Feb '13, 4pm
Great read: Bitcoin and Bank Architecture [link] Before FDIC banks were built to show safety. With BitCoin security is back.
@PelleB » 28 Feb '13, 1pm
Bitcoin and Bank Architecture [link] Before FDIC banks were built to show safety. With BitCoin security is back.
@kyuupichan » 28 Feb '13, 3am
Interesting. RT @elidourado I see parallels between Bitcoin and 19th century banking. [link]
@jerrybrito » 27 Feb '13, 9pm
What #bitcoin has in common with the architecture of pre-New Deal bank buildings [link]
@j_arthur_bloom » 27 Feb '13, 3pm
RT @elidourado: I see parallels between Bitcoin and 19th century banking. [link]
@elidourado » 27 Feb '13, 3pm
I see parallels between Bitcoin and 19th century banking. [link]
@adamgurri » 27 Feb '13, 2pm
Bitcoin and Bank Architecture [link] via @umlautmag
@umlautmag » 27 Feb '13, 11am
The Bitcoin financial services sector is growing, with tips from the 19th… [link]
@bitcoinnews » 27 Feb '13, 7pm
RT @elidourado: I see parallels between Bitcoin and 19th century banking. [link]
@EricDoerr » 27 Feb '13, 7pm
RT @elidourado: I see parallels between Bitcoin and 19th century banking. [link]
@BitCoinReporter » 27 Feb '13, 5pm
Bitcoin and Bank Architecture [link] #bitcoin
@beala » 27 Feb '13, 4pm
RT @elidourado: I see parallels between Bitcoin and 19th century banking. [link]