Banks are centralized and mostly government mandated. Unlike bitcoin they can produce more and more money and just regulate what is being distributed. Fiat is also the focus of banks and they trust physical money. Bitcoin is more on being an open information and that is the blockchain. It provides information to all with it's open source data so that everyone can be a monitor for each and everyone that uses a bitcoin. Banks have a security that hinders everyone to view the circulation of money and how banks are using it.The difference between bank and Bitcoin is very clear. Centralized management system while Bitcoin with blockchain is the technology of the community. Bank stability with the dollar and Bitcoin is very volatile.
The way governments want to tap all money flows in order to fund itself is not entirely unlike how the surveillance agencies want to tap all information flows in order to have an information advantage. In this way, the deployment of cryptocurrency is to tax collection what deployment of end-to-end encryption is to mass surveillance. The government can no longer reach into money flows and grab what it wants, but will be dependent on people actively sending it money. The government can’t point a gun at a computer and have it give up its money; you can only make a computer operator feel very sorry for not voluntarily producing the keys to that money. So the government is no longer able to collect taxes without the consent – even if coerced and forced consent – of the people being thus collected
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You have a minor misspelling in the following sentence:
It should be government instead of goverment.okay thanks will correct it :-)
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