The arguments as to why bitcoin is superior to the banking system are pretty clear cut to anyone that has used it. A decade ago BTC was conceived to cut out the fatcat middlemen and allow people to transact between themselves. We are not quite there yet, but flaws in the way banks work and grab their profits are mounting up. Big Bank Fines Accumulating Aside from the simple premise that bitcoin is faster andRead MoreThe post UK Banks Fined $66 Billion For Insurance Fraud; Bitcoin Still Bad? appeared first on Bitcoinist.com.