Bitcoin Forum

This short crypto-economic piece explores the probability and impacts of Bitcoin triggering a collapse of our central banking systems and a reordering of the world's wealth structure.

Pre-Bitcoin, individuals were all trapped in a system where the Federal Reserve and other central banks around the world could create money at will and force people to purchase assets and consumer items so they would avoid inflation.  When fiat is saved, the velocity of money slows and economic activity grinds lower - for this reason the planners wished to encourage spending, and not saving, through quantitative easing.

Now we are seeing the wealthy, investment banks and treasury departments of companies OPTING OUT of this monetary riddle by taking their money "out of the matrix" and hiding it in Bitcoin to send their value into the future.  They do this because the value of assets today is too high, yet their cash and bonds are being eaten by fiat printing so they have to invest in something, anything.  Before they had no rational spending options and had to buy ever more overvalued real estate, stocks, and other financial instruments, but now they have a much better option: buying Bitcoin. 

The difference now is printing fiat does not encourage people to spend their money, the reverse is actually true when that lever is pulled, it encourages purchasing and HOARDING of Bitcoin in much the same way people hoarded cash during the great depression.  The more central banks print fiat, the more popular Bitcoin becomes as the smart money escapes the legacy monetary system, but it also works the other way around: the more Bitcoin that is bought, the more central banks are forced to print due to fiat leaving the system for Bitcoin, and a negative feedback loop ensues. 

To throw gas on the fire, this disappearing act of fiat into Bitcoin is starting to accelerate since the 2020 halvening event in May.  Not a day goes by when we don't hear of multiple billions being sunk into Bitcoin by a new financial institution, and much fewer Bitcoin are being sold than bought.  The Federal Reserve is seeing weakness in the economy and Congress announced they are printing another 1 trillion dollars to hand out to Americans; on the same day Bitcoin skyrocketed to all time highs.  At a certain point, the exponential flow into Bitcoin will begin to affect the fiat money supply by reducing it significantly.  This will cause deflation and the central bank will print orders of magnitude more fiat, which encourages ever more panicked Bitcoin purchases to preserve wealth, and the cycle continues.

This "Bitcoin Option" represents the leaks in the system our monetary planners didn't anticipate.  They either still do not see them or feel that they are impossible to stop due to the completely decentralized nature of Bitcoin.  There is no CEO to drag before congress, no central server to shut down.  These leaks may ultimately end up disrupting the entire banking system through hyperinflation with Bitcoin as an accelerant, and without a shot being fired.

I see a very uncomfortable future for those who don't own Bitcoin.  The transition to the new system is going to impoverish many of the middle class that weren't impoverished before.  The price of a whole coin is accelerating away from the financial reach of the middle class now and will continue to do so ($24,000 USD per coin as of today).  As Bitcoin appreciates higher and higher, the US dollar and other currencies continue to debase themselves trying to catch up in overall value, the planners fill the gas tank faster as it continues to pour out onto the road. 

In the end, a complete reordering of the entire global economic system will need to occur as the world economy stalls in its depreciating orbit and is caught in the gravity well that is Bitcoin, the new world reserve currency.  Millions of people will lose their fixed income, cash and bonds to hyper-inflation while Bitcoiners become the new global wealthy, leisurely floating over the tidal wave of devalued dollars, in an ocean of paper money.  The Federal government disappears like the Soviet Union as their financial instruments fail completely and there is a physical struggle for control as the power structure decentralizes.  Crypto exchanges become our new economic pillars that control transfer into and out of the financial matrix as people desperately attempt to secure a handful of Satoshis, as the price of a full Bitcoin moves completely out of sight. 

The haves and the have nots are reordered, into the early adopters and the late comers, those with Bitcoin and those without.

TL;DR. Anyway, this is next to impossible. The only reason that may cause central banks to collapse is when governments themselves collapse. Otherwise, central banks will always be there. For as long as money is designed, issued, and controlled by governments, central banks will stay relevant. For as long as monetary policies are crafted and subsequently implemented by governments, central banks will exist. There may be changes in the design of central banks but they remain essentially the same.

Now, Bitcoin is not created to bring down governments. If at all, it prefers that money is out of their control.

It's hard to say that Bitcoin triggered the central bank collapse. In 2008 the financial crisis happened not because of Bitcoin. I mean all the things are going on right now just demonstrate that the debt based economy isn't the best economic system.

Central banks will rather adopt blockchain and evolve. Bitcoin solely is not enough to solve global problems

When you successfully convince 50% of all your friends in your social network profile, that might increase the odds by 1%, yup, you would still need another 99% to overturn the central bank. That’s how difficult, no need a wall of text of why and why.

You should consider if government will allow that bitcoin will take over the fiats in every parts of the world and came to the point that the central bank collapsed? I think no since for sure they will not allow the uncontrollable things to penetrate in their economical system. Remember bitcoin got unpredictable volatility and it has high chances to get manipulated thats why for sure for this reasons many will doubt about holding it for long time period.

Until now, even though there are many very good developments from Crypto, there are still many countries that still do not accept Crypto. And this is of course a reason why crypto is still not able to replace fiats. And I think it will be very difficult and even seemingly impossible for crypto to replace fiats.

I think anyone who believes such an article to be somewhat delusional or naive. Bitcoin is an asset, it has valuable and it is apparently useful as a form of currency - as we can see from the popularity of it's recent rise. However at a fixed amount of 21 million units, with however many satoshi's and to however many decimal places. Bitcoin can barely cope with the capacity demands of speculators and a small fraction of all the people who would need access if it became the sole global currency unit. Bitcoin has its place, and that place is a small portion of a diversified portfolio and it certainly has its limits. It would never be able replace something like the US dollar in its current form.

first based on the text or this article you use our sentences for your country. certainly the possibility that a collapse that damages central banks is not for all the world's banks. but precisely, it is a problem that resides in the country you live in. because in fact every country that is centered on a central bank has not yet fully stated that bitcoin is destroying the fiat currency system. indeed at first glance the demand for money printing will be very large when everyone is spending it on bitcoin. In this case you are very thorough in making articles where you describe the problems that are not felt by every country. are you building propaganda?

At least If we talk about the vitality and future prospects of the banking system, then first of all it is necessary to say that banks are, first of all, an organization or structure that provides specific services. Based on this, the banking system will be able to adapt to new realities. And if the cryptocurrency will have mass adoption all over the world, then the banks will provide all kinds of services not with the dollar, but with the cryptocurrency. Although the dollar Apparently is not going anywhere either.

It seems to me that it is not profitable for banks to move to blockchain, because it is an open registry, and anyone can see the movement of funds... And everyone knows that banks often use their clients' funds in various frauds, such as issuing loans or mortgages, paying dividends, etc...

Never, centralized financial institutions will not hand over the management of financial flows into the hands of technologies such as blockchain! Never - because this is contrary to their survival! They will create the appearance of "freedom", but centralized control will remain - through regulators, financial monitoring, rules for exchanges, etc. Just look at the scale of the crypto market - it's DUST against the backdrop of the daily turnover in the financial / fiat market! Banks and the financial sector can use TECHNOLOGICAL solutions based on the blockchain, but the financial system itself will never become decentralized, in accordance with the blockchain ideology. The state and power is the control of financial flows, therefore, as long as the state exists, the financial system will be controlled and dependent.

why should it be replaced? I don't think there is a need to replace fiat money with crypto. and it is not only difficult, but will not be realized. here we cannot forget people who are still alive without needing bitcoin. we will always be side by side. So in my opinion, bitcoin is not a good idea to replace fiat money. let bitcoin be an asset to invest in, and fiat money remains a means of transaction in general.

digital fiat will come replacing the  cash/bills we are using and this would mean that central banks are still going to be here in the form of CBDC. central banks will be relevant in cashless society now that we are going in that direction.

they are not collapsing but they were seeing cryptocurrency as threat when they couldn't control cryptocurrency despite the mandatory kYC documents. the anon coins are still a problem to them.

Government would simply not allow Bitcoin to replace fiat. They tolerate it for now because there's no consumer adoption. If they saw that people actually use it and it comes together with tax evasion, money laundering or just hiding your transactions, they would just ban it. Without centralized exchages, Bitcoin will trade for 1-3% of the current price. It's also naive to think that just because Bitcoin is rising, it would keep rising forever. Even now a lot of investors understand that this is a bubble.

Absolutely agree! No matter how long he will write the reason why, we already know the answer to this - no, not in the very near future. Just be grateful that bitcoin adoption is growing, but triggering to collapse the central bank, not a chance. The government will not let that situation to happen for many reasons.

Sure, but fundamentally we're just talking about a transfer of wealth from one group (or class) to another. Smart money will hedge accordingly, dumb money will lose their wealth. That's how the world works. Markets are cruel, always have been, always will be.

So much middle class prosperity since the 90s has been built on unsustainable monetary policy-fueled growth. Maybe the middle class ought to be shaken out.


Basically, yeah. I am however open to a more moderate scenario. I am not convinced it will be so sudden and drastic. I foresee governments rebooting their currencies in a new financial paradigm in the coming years, much like Bretton Woods at the end of WWII after the erosion of the gold standard. This may involve a return to partially backed currencies, and down the road, I could see BTC potentially comprising part of the typical reserve asset basket.

In that context, it won't be total doomsday for nocoiners, but things will be chaotic and confusing for a while and BTC holders will definitely become the new "haves."

It is for the better of bitcoin if that continue to happen. The thing though is that despite all of this massive printing of fiat, means that all of the people will come running to bitcoin hoping and begging for their forgiveness, no. People would still use fiat, bitcoin might be regulated by countries but it will never replace them. There are a lot of things that happened and can happen to trigger central bank collapse but in my opinion, bitcoin is not on that list.

This wall of text was completely boring to read and I didn't get any new information or value for reading it.
Congratulations,you have successfully managed to waste a few minutes of my life. ;D
Bitcoin can't trigger anything and the central banks are still strong.Actually the stimulus checks and money printing are the main reason why the cryptocurrency markets are on a bull run.
Actually the central banks are helping the crypto industry(which isn't intentional,but who cares),so why would we want the central banks to collapse. ;D

It should always be remembered that state banks are part of the general state system of government, that is, in fact, part of the state. States will never allow anyone to interfere with their system of government. If they consider that there is a threat to the banking system from the side of cryptocurrency, then they will use the legal levers of regulation and restrictions on its circulation. Banks will adapt to cryptocurrency only to the extent that it suits their interests. This relationship between banks and cryptocurrency has yet to develop.

Bitcoin still has a good purpose for the world's future to access with no limiting hour which is already tested to make a bridge to any transaction fast and reliable. I think it is unfair if the central bank government collapsing it will be a big loss too many.on the other hand, Bitcoin has no connection for what is the situation with fiat. Right away I also respect this kind of speculation, and presently it is normal but obviously, on the previous record there is a piece of evidence that many countries hate fiat currency and burn it when the pandemic was spreading, additionally, I believe also that both transactions are spending more effort to live forever.

I am curious about a country that burns fiat money during a crisis in a pandemic, can you name one of those countries?

The reason is, it is unfortunate that many around us are not familiar with bitcoin and only rely on fiat money to meet their daily needs for survival in the face of a pandemic. Of course this sounds very sad for the people who do not receive assistance from the government.

Banks is under government authority that's why it's difficult to collapse as long as government support is there. Bitcoin is decentralized which is no single authority controlled which caused the government not accepting it.

So you mean that the Central banks were well off on a good road to ever increasing wealth in the first place ? NO ! They are just in a bind and causing numerous problems, not just for the people but for themselves too. The government is the one which is responsible for their stability, if the government cuts off the funds and decides to close them then we will reach a moment when these bodies can start disappearing. Right now I do think that it will take 10 more pandemics to make it happen. The banks might be weak , might be based on a bubble but at the same time they are far from getting collapsed they are more or so funded by the government.

- Bitcoins and other cryptocurrencies are actually dependent on the trading between the Cryptos in fiats and thats how people use them everyday.

Bitcoins won't make them collapse if anything they are actually helping the banks to actually increase their range of customers. They might as be codependent in the future.

***Not always we have to look at things negatively.***

Well this is just another absurd theory to be very frank. Let me tell you why:
1.
No major Investment bank has until now decided to invest a major chunk in Bitcoin and trust me not many really care about the inflation matrix what most of the wealthy investment banks think about is the opportunity cost of capital or the cost of Debt while making their investment decision. Even though Inflation does play a role in it indirectly sole purpose for investment in Bitcoin is higher returns. But isn't this merely hoarding of a utility less asset? I say utility less because if the top players are merely using it as their wealth storage mechanism it's merely going to become  a manipulated speculative asset.

2.
How does fiat leaves the system? When you purchase bitcoin fiat isn't getting burned or is converted magically to ashes. When you buy bitcoin you are buying it from someone who might have brought it or mined it now you are merely exchanging it therefore the fiat still remains in the system with him. In turn if we imagine your kind of scenario it means that the demand for dollars would go down as people would be willing to buy bitcoin and give up dollar. In which case no central bank prints more money what they do is taking out money from the system to create equilibrium so why would they print more of it??  Instead inflation would grow and for bringing down this inflationary situation such measure of taking back some fiat from system would be pretty excellent. And 1 trillion dollars handed over isn't to buy bitcoin for Christmas instead it's for providing up a boost to an already dead economy.

3. Once again makes no sense. do you have any idea about the scaling issues? we already have a pretty hefty fee and pretty high transaction times at $24000 which are merely going to shoot up with increased value and adoption and so far we have no solutions. This means the utility of being an "CURRENCY" is itself finished. Why would people want to shift to such a currency? Yeah many people might miss a roller coaster ride of 200-300% gains but it's not that they are going to lose on something extraordinary. I think you should look at it from a more macro economic standpoint.

Central banks do not collapse, even in nations that has superbly high inflation like Zimbabwe or Venezuela, central banks still manage to get rich somehow. You want to know why? Because, they are the central banks and they can print as much money required as they want, if their money worths nothing, they will use all the paper in the nation to print money if they need to in order to pay off their own debts and their own expenses, whereas everyone else will be screwed and food will be a million fiat instead of a few cents.

What we are trying to achieve with crypto is that when central banks take over and only cares for themselves and screw everyone else, regular people could put their money into crypto and hope that when their nation is doing horrible job running the economy, they could simply get richer thanks to their money being in crypto instead of being in fiat.

As you said there i don't think it can bitcoin has the power to trigger central bank to collapse since , central bank is the one who supporting countries who needed financial funds as they one who give them money as debt to pay every month and it will be taxed it to the people of one country , If central bank has an eye for bitcoin maybe it can adopt to be a part of blockchain and it will be evolved as one or they can be use to transact money faster without big taxes, But i don't think government will not take that idea coz they have full authority with central bank which they can easily manipulate money and if you compare fiat into currency they always choose fiat where they have a full control to it.

IMO, probably we need to stop the perspective of Central Banks being limited to issuing Fiat/money papers because it’s not.
If in case that cryptocurrencies already dominated the market.  Central banks have their choice to move to digital, as well.

Your individual rights for having cryptocurrency is way less than a central bank as an entity or in other words, we can freely have cryptos as much as we can.  They can still dominate it stronger, the bottom line, central banks will never collapse and in fact, Bitcoin isn't a threat for them.

Its  nice becouse the old system gona die anyways.
Just take from this as much you can !!

Make yourself rich

I don't believe Bitcoin to be the trigger for central bank collapse, because until now there is no solid evidence that shows Bitcoin
will trigger central bank collapse. In my opinion, the government will not allow the central bank to collapse, so don't take too far
into this. I believe we all still need fiat, so there's no way central bank collapse.

As of the moment we can see bitcoin coexisting with fiat currencies. Something we weren't even sure about happening last 2017. We're either going for bitcoin toppling fiat or Fiat toppling bitcoin. But it looks like life found a way to make them both happen. So no, it's very unlikely that bitcoin will be the death of fiat or central bank for that matter, as it needs fiat to be relevant for it to be relevant too.

What is the big difference now, cryptocurrency market is yet to make any major changes as they are viewed as a speculative market and if you are talking about the price then i could agree with it but you are talking about getting trapped in a system  ;D.

If you like it or not you are living in a centralized system and the government will look after the monetary structure and everything revolves around it, if you are telling that all the shops in your locality started accepted bitcoin then you can get rid of your federal reserve currency.

Another factor is that bitcoin is not created to get rid of the central banks nor it is created to replace fiat currency, we are seeing similar topics for a very long time and till now there is no instance where in which we could very well tell that bitcoin will replace fiat simply because of the volatility and the transaction delays. 

I am surprised how some people mistakenly understand Bitcoin which was created as an alternative not to actually take over fiat currency not to take of collapse Central Bank and if some companies now use it as their reserve currency it doesn't explain the true purpose of Bitcoin. However, the IMF has advised the government to limit printing of currency and they use integrate national digital currency why didn't they do that before some companies use Bitcoin as a reserve.
The government and the Central Bank officials are those that trigger Central Bank collapse, not Bitcoin.

and Even before the collapse of central banks ,for sure Bitcoin will be Banned and restrict to that country hehehe..

and you are correct ,Central bank can adopt Blockchain so it will be trusted of their countrymen.

People nowadays are digging their Mind so deep just to connect bitcoin, Why not just take a Movie maker course because most of their ideas are only for James Bond movies..impossible

It’s nearly impossible for bitcoin to be one of the main reasons why the central banks would collapse. Central banks exist because the government is utilizing its functionalities. The government of each countries are the ones responsible if ever these central organizations would experience downfall. The government is accountable for money production, designing, and circulation. If they will continue to use the fiat currency as long as they want, the central organizations will continue to thrive and exist. It won’t be easily replaced nor abolished as it existed long before. It still remain relevant and widely used all over the globe.

Meanwhile, bitcoin is still new in the industry. Not that I’m underestimating bitcoin, but I’m stating the truth that it won’t easily surpass and trigger the phasing out of fiat currency altogether with the central organizations. The traditional banks and currency would remain for as long as the government would let it be. Right now, there are still many countries that haven’t legalize the use of bitcoin yet. However, there are few that has opened their doors to bitcoin, but with limitations. You see, the government won’t just trust the bitcoin community that fast, hence the probability of it triggering the downfall of banks would be slim.

This seems to be the most likely outcome in my opinion as well. A coexistence of Bitcoin's and fiat currencies is likely to continue like we see it right now. Too many companies, governments and people still depend on the central bank to take care of them.

Central bank collapse will happen with or without bitcoin. Look at all those nations with horrible economies, central banks are not helping at all, because all they can afford is literally printing money and nothing else, maybe allow people to have higher interest rates and so forth as well but that is about it.

It means people will not really care about central banks eventually, they will see it as the enemy in long enough period, and already seen in few nations, so they are "collapsing" even if not on paper, at least in the eyes of citizens. This means there will be a lot more interest towards crypto no matter what, I understand that it may not be right away, but it will take some time and it will happen, which is why I believe it is around time people should move to crypto asap if they want to avoid what will happen to central banks when public starts to ignore it.

I think that this will be reality, albeit a distant one.

Whether or not the fiat system holds up post-pandemic will be a huge determinant of how much adoption we see for BTC and whether or not a mass adoption event will be possible during this decade.

The threat of a re-ordering of the global monetary system (which will go to zero as a matter of time given it's built on straws entirely) should be enough to prompt everyone from individuals to firms to hold some BTC as a hedge, imo. Even if you don't necessarily believe that a reset of this magnitude is probable, it is a possibility that needs to be addressed by any holistic investment strategy.

Opting out you say?! can they really do that? even if they are to by pass some bank policies, so long as the banks still issue out fiat and are within a nation bounded by boarders, its is very much unlikely for any local bank to opt out of there nations central bank monetary policy. This policy is like a permit for operation in other to safe guard customers money. I can agree with you @OP on the note that, a portion of its revenue is invested in bitcoin or cryptos but, i dont believe they can opt out of a central banks monetary policy.

Like the first commenter said, central bank collapse is next to impossible as this remains a major tool in the hands of government and we can rightly say that, the banks are the government itself. Bitcoin has got potentials and good plans for the world but, its got to do so along with the fiat and central banks print fiats so, a collapse is never happening.

OP trying to convince we are triggering the bank collapse, but that’s not a good opening phrase to tell your friend about bitcoin, it would have adverse effect on you, that sound like we are a bunch of criminal trying to rob the central bank and we want to invite them friends to join force.

To provoke the "collapse of the central bank" you need something more powerful than a cryptocurrency that is used by very few people (on the scale of the planet and in the scale of the country), unless you are some kind of Venezuela (if so, then you are already good).
Let me tell you a secret-states and their systems know best the most important rule: if you can’t win, cooperate with them.
Today you say that BTC will bring down the Central Bank and tomorrow you will be happy to transfer ETH through the processing of PayPal and Visa cards with joy by issuing a multi-card in the bank of your city and providing passport data. Meanwhile, CB will launch their own cbdc. Full stop.
You can't beat something that grows two heads instead of one. And it works both ways.

they think that btc had growned alot and its now starting to dominate every financial groups and in the fact that they are now avoiding banks and traditional currencies but thats them , there are still people left that continue use banks and fiats despite of using a btc

reserve can also means that they have a plan for it . they can use it as a back up currency if printing money isnt allowed anymore . if they hodl it and make use of the volatility , that is still part of a use of bitcoin . bitcoin isnt the enemy on here but its a part of the solution

I think the same, bitcoin is improving and it is gaining more recognition every passing day but we must not deceive ourselves, governments always think that an external factor is going to make them fall, when historically you can see that most governments fall because of their own weight, if we see a crash in the economy it is going to be because of the horrible policies that have been passed during the last decades and not because of bitcoin or gold.

A huge delusion ... Bitcoin and cryptocurrency are now essentially "candy wrappers" that have neither the status of official means of payment nor real security. Saying that the blockchain will negatively affect the work of central banks is like printing out "my dollars" at my place now, and this will become a huge danger for the federal reserve system :)
The negative impact of cryptocurrencies on the banking system is greatly exaggerated. The total capitalization of cryptocurrencies is a "drop in the ocean" against the background of the capitalization of the financial market, therefore it cannot have any noticeable impact. And the most important thing is that the turnover of cryptocurrencies is crypto-exchanges. And their work is fully controlled and regulated by government agencies, including financial

Central banks will stay there as long as we have a fiat money system so banks are going to collapse when people stopped using them but it is actually not possible to happen or at least in this century because almost everyone is taking loans for their needs that is how fiat money got the significance level into everyone's life and we didn't evolve from the loan culture yet which will put the central bank at the top for sure.

It's a delusion  ! Cash is the solution that does not allow global control and, most importantly, control the masses. The transition to non-cash payments (card accounts), and possibly using blockchain technologies, will create a more controlled and manageable community, with a higher level of "automation" of the influence of banks on people

Just remember one thing, Satoshi Nakamoto did not develop Bitcoin to solve all the problems in the world... it was created to serve as an alternative payment option for a Fiat system that was being destroyed by the Central Banks. Just look at the devaluation of the US Dollar and how it lost it's buying power over the years.

The Central Banks will not change.. it will adapt and it will steal the Blockchain technology and create something like Ripple that are centralized and then use that as a replacement for the collapsing Fiat currencies.  ???

True, I'm not really sure what the OP has said so far, but it's still too far. If this is a matter of value, then bitcoin is still not close to the USD value which is actually backed by "original assets" and also investments made by many parties and also the government.

In 2020, almost 90% of the fiat money is in digital format so we are going to transfer the money via bank accounts for anything when the amount is higher so I am not talking about paper money and digitized paper money. Talking about fiat money, in general, comparing with the decentralized cryptocurrencies then central banks don't have any alternative when it comes to taking loans.

True, bitcoin isn't just enough to solve economy problem globally but one thing can make things better than what it is right now, having more than one great digital currency like Bitcoin, we don't have to rely on bitcoin only but many more strong coins will be better

Yeah i agree with you irrespective the level of cryptocurrency in the world I don't think government would give bitcoin Chance to dominates over fiat, because from views I found out that government don't don't really like the growth of bitcoin in society

You maybe correct but I dont think domination or growth was their true intention cause the number one reason they dont like or want to support Bitcoin is because of it decentralization which they speculate could be a threat to their position.

They did plan to use Bitcoin as a backup plan for I dont see printing of new fiat not to be allow.

Absolutely and I dont know why some governments and people see Bitcoin as the enemy rather than an inspiration.

There are just some pillars in the management of the economy and, accordingly, the state, the destruction of which leads to the destruction of the state itself and the Fiat currency, including digital format, is among these fundamental pillars. The state may allow some experiments in this area in the form of decentralized cryptocurrencies, but it will never be able to allow these cryptocurrencies to become the dominant means of payment within the economy.

You got it.

Norway has started this by buying 2 usd worth of btc for all of its citizens for retirement purpose.

So what happens if many countries copy this. They simply absorbed btc into central banks.

You mean the Norwegian Oil Fund? They aren't directly investing in BTC or BTC instruments. They own a stake in Microstrategy, so there was a big story circulating in September about their indirect investment in Bitcoin.

Microstrategy has actually bought more BTC since then (and the price has gone up) so the Oil Fund's investment is probably significantly larger than $2 per citizen now.

Regardless, I do think you're onto something. I also expect that central banks will eventually be holding BTC reserves just like they hold gold reserves today. We could still be decades away from that, but it's coming.

The development of Bitcoin has continued to increase, moreover, the price of Bitcoin continues to rise, making many people interested
in buying Bitcoin. But that doesn't mean Bitcoin has triggered a central bank collapse, because there are still a few merchants that accept
Bitcoin payments and there are still a few countries that allow Bitcoin as payment. This means that Bitcoin is still not optimally used as
a currency, the conclusion is that fiat is still needed to buy the necessities of our life and may not collapse.

I'm dreamt about a world where by all useful digital currencies will co exist with fiat and banks at the same time, one don't need to kill other off to stay alive, all these can all work together, bitcoin can't do shit alone, it's just like trying to eradicate every centralized projects in crypto space when we know how helpful is the existence of USDT is in crypto space

Bitcoin will not destroy central banks anymore than gold or penny stocks have destroyed central banks.

Lets not forget that governments control the gateways into and out of bitcoin and if bitcoin was a real threat they would have choked it to death already.

If bitcoin is the future then central banks will simply create their own version of bitcoin (ie a national digital currency with limited supply) or use bitcoin itself to back their currency (perhaps this is what smaller nations will do).

I don't think central banks are evil but they do tend to take the path of least resistance unfortunately.

Everybody knows central banks created btc.

and in the first place, the govt will not allow such thing to happen. also, consider the percentage of population who are into crypto, still very small as compared to global population. and most of these crypto users are still relying on their banks. crypto is one alternative, but will not really create a situation for the collapse of central bank. not gonna happen in our lifetime. as crypto usage cant be fully controlled by the govt, they will just make a regulation when it comes to crypto.

Moat banks are dependent on a country's stability and stature. If a bank collapses, more likely than not the government will collapse too. And bitcoin wouldn't trigger it, the hype arounf it, not so much. As of not banks are wprking in great harmony with their respective governments so I don't see a gap or an opportunity for one tp live when one dies off.

Bitcoin doesn't trigger central bank collapse, it's the recession as the main reason that may cause it. As long as the country standing still despite having a lot of debt, the central bank still has the power to print fiat currencies. Bitcoin is an alternative digital currency that is gradually changing its role towards hedge funds. Institutional investors, high net worth individuals and others who have so much money want to preserve their financial value as the result of fiat currency depreciation, hence switch to bitcoin as a reserve asset but it won't cause central bank collapse either way.

Bitcoin is not a trigger, but an indicator. Even a recession should not lead to the collapse of Central banks, because according to any laws of the market economy, economic growth cannot continue indefinitely and must necessarily be replaced by a recession, but if the government tries to delay this process by all sorts of artificial measures, then in the future it can lead to unpredictable consequences, including collapse. Therefore, it is quite clear that smart people want to protect their savings and more and more people are beginning to see this protection in bitcoin.

People who want to protect their savings will refrain from investing in overpriced assets. Look at the stock markets now. The P/E ratios for many of the stocks are at unsustainably high levels. And this is one of the reason why investors want to put some of their money in assets that can't be manipulated, such as cryptocurrency. But it needs to be seen whether the government is comfortable with this idea or not. They need to keep the stock markets afloat and diversion of funds to the cryptocurrency market will make that task difficult.

As you say bitcoin does not really need to destroy central banks it just needs to make them irrelevant for the bitcoin holder and that is more than enough, if I can use my bitcoin in the future in any store and not have to go through KYC just because I wanted to buy some groceries and I can exchange it in decentralized markets and do whatever I want with it then bitcoin would have succeeded since I will not care anymore if central banks are printing more of their currency as that cannot affect me negatively anymore.

As long as states exist, there will be no collapse of central banks. Banks are part of the state government and are protected by the state. Therefore, states will not allow a serious threat to their banking system. States have enough leverage to destroy anyone who encroaches on their power. States have not yet taken measures with regard to cryptocurrency, because they do not see it as a threat to the stability of their financial system.

I personally do not want to expose bitcoin to the risk of being a collateral damage in some sort of war against central banks.
Don't underestimate the power of governments

If that is the scenario of the future, where DEXes will not play a central role in crypto trading and exchanging I'd rather be out of the game. I already try to rely less than zero on centralized exchanges. I simply don't trust them anymore with my precious coins and I hope for always better decentralized exchanges to solve this nasty middleman problem. I want to be able to use my coins as freely as possible while retaining the possession of my keys.
I am sorry but I can't see a future where we still rely on crypto exchanges when we can do without.

For me bitcoin is not like that because many businesses that accept bitcoin in transaction to pay bills and more . Thats why i think someday many banks are want to accept bitcoin as an online currencies for payment and many services. The popularity of bitcoin and the use of this is the one key to recognize in world bank even there are many people that don`t want this.

We share the same opinion buddy.
No one joke with a government in power and that's why even a revolution is treated with force. They have immunity to power, hence they can do and undo and there is absolutely we can do about it.
True decentralization comes naturally, not a body to intimidate others. When you push government to the wall, they do the unexpected.

That's what I have been saying to the friends of mine that are overhyping bitcoin, knowing that there is a limitation, I just accept the fact that there are some things that are unachievable to bitcoin, like what OP says about the collapse of central banks, it will be difficult for bitcoin to suddenly fill the void of a central bank collapse, it is not just possible, it is like pulling out a Red Wood tree and replacing it with a sapling hoping to create the same shade. I do agree with you regarding the power of governments but I would like to correct it to fit the situation, do not underestimate the power of the 1%, the people that pulls the string behind the curtain. They know how to subdue something that will threat their seat of power and the only thing that can defeat them is if all the puppets have turned against the puppet master.

No proof that bitcoin was created by any ABC government's agency here.

In any case though, I don't think that bitcoin could also be the trigger of a central bank collapse. It will not be a world currency. And I'm sure government will not allow it, specially US government. So it won't be a threat, but instead will just be a new options for average joe. And if ever players like those rich and wealthy goes full bitcoin, they still banking system, just saying.

I understand that you may not be feeling secure and safe with the centralized exchanges, that is totally understandable, however the reality is that we are not going to be seeing that kind of super increases and changes in crypto world once again, it is CEX and they are now very good specifically at the top.

Binance for example has been around for over 3-4 years now and they have been very good, they never really hurt any customer and always found a very good way to keep supporting people. Obviously you can still pick DEX, in the future in a world where central banks are not favored and people all moved to crypto mainly and deal with that, we are going to have DEX and CEX all working together, people will be using both of them, there is no scenario where people use only CEX or only DEX, they will go together and become a lot bigger for sure.

Let me guess, the friends in this context does not care what you are saying? Because I have seen people hyping up things and can't do rational logic even with the evidence presented to them, can't really blame them, I believe in individuality and I think that anyone is entitled to their opinion even if they are hyping up things as long as they do not hurt themselves or anyone.

I doubt Bitcoin or even other Cryptocurrencies would be responsible to the collapse of the Central Bank. The collapse of central bank might affect the values of different Cryptocurrencies and might even drop Bitcoin to a value in which nobody could imagine.

I think that we should be mindful on what really affects the physical banks in the real world which is the stock or physical investments made in the real world. Most news right now revolves around some low stocks high value which really affected a lot of stocks which result in a stock trade ban and I guess we should focus on that before getting our mind with Bitcoin.

Saying central banks will collapse sounds like saying the government will vanish off the face of the earth, that's impossible, there is nothing wrong with the existence of bitcoin and also the existence of central bank, one shouldn't stop one from working, also I don't see any threat with bitcoin and crypto, even many centralized projects exits in crypto space today, they aren't collapsing, stop dreaming

Reality is that if we only focus on the traditional systems and how they are working right now, crypto will always be something that is creating its existence from the hatred of something else and would never be something that is all by itself and that is a problem.

If you want bitcoin to succeed it should always be something that works better all by itself without the need of being good for anything else, if bitcoin requires fiat to fail in order for bitcoin to succeed that is not a good reason to exist. What bitcoin should strive for is the fact that if fiat becomes something much better, if fiat is greatest again, if everyone is rich and wealthy, crypto should still be great and not fail because of it, crypto should always strive for better no matter what other things are doing.

Something that can make a central bank collapse looks like it will only be about world war, because even with whatever problems have happened so far it has only created a crisis but not a bank collapse. This incident at least proves that if the problem is only about the continuing strengthening of bitcoin prices that will not make the central bank collapse, the government will always try its best to restore the economy so that any resistance that occurs will not cause the bank to collapse.

To talk about the collapse of central banks in the current situation is too dramatic an exaggeration that has nothing to do with reality. The collapse of the central bank can be said when the country is experiencing a dramatic destruction of the economy and hyperinflation, but even this can only be a temporary phenomenon that can be quickly overcome. World wars can indeed lead to the collapse of central banks, but let's hope that this will happen in the foreseeable future, despite the desire of certain political elites to rattle their weapons.

I don't think that Bitcoin can make the central bank collapse. The central bank is a big institution and the government and county support this.
I agree with @Darker45, it is Government that can make it.
Moreover, the central bank is a centralized system under the country's rules and regulations. If the system is still good, they will never let it collapse, except that the country itself is collapsed.
Moreover, nowadays, only a few merchants or companies accept Bitcoin as the payment method so that it needs a long time later to be accepted in many more countries. And towards, we also know that centra bank also create their own CBDC in order to follow up the development of technology era.

Collapse?

It is a thing that wont really happen to banks, as long government do exist then this institution would stay.
Its better not to expect too much with crypto about taking down banks because this is really an impossible thing
to happen.

There might be some advantages but doesn't mean that it will totally crippled out typical banking system.
Still lots had been trusting the good old fiat days rather than on completely trusting the whole
crypto system.

So let it be just like that.

It seems unlikely that crypto will trigger the collapse of the central bank, because there is a government behind the central bank and that will keep the central bank going.

Exactly, and the only thing that could collapse a central bank are wars that have a scorch earth policy. Or a virus that wipes out the population. Or if the people started to do a revolution to topple the big bankers. Cryptocurrency is more of a slow death of banks rather than a sudden collapse which is far better because no deaths will happen and the big bankers will suffer although the smart and sly ones wouldn't because they know when to abandon ship.

It's hard to think why people always think about this way since the legal entities will protect this thing happen since central bank controls all and I believe that bitcoin will first collapsed if government will see it a threat in traditional financing system since for sure they will impose a hard ban of its usage. So for now better not to think about this things and just focus on how the technology works as well to focus on how we can earn with bitcoins.

I doubt bitcoin will ever be able to "collapse" the central banks. This is something that will have a huge (negative) impact on the country. And no government in the world will allow their central banks to collapse. If needed all government of the world with either unite to ban the usage of crypto currencies saying its a danger to the economy of the country or they will find a way to integrate the who bitcoin system with the central bank and take good control of it.
Either way, the central bank isn't going to collapse.

What I mean by people is the other 99% that are governed by the 1% which means it includes the military and the police. The only threat that I can think of when it comes to bitcoin is not the outright ban of it but a total collapse of the Internet infrastructure which is totally impossible. Outright ban doesn't stop the people from using it, humans have a very strange affinity with tenacity you know.

Perhaps I will seem to be a complete optimist, but nevertheless, I am sure that the government already does not have any possibilities to completely ban Bitcoin, since Bitcoin has already entered big business, and not only is an object for activity in the cryptocurrency market for the common person. The government has a very precarious position in this situation. Most likely they will make decisions for control, but not a ban.

People do not know what they are talking about. Central banks are not things that collapse, they are things that exists to control the finances of a nation, think of it like finance part of a company, sure you could build a teddy bear and sell it but there will be an accountant checking everything up, so "central bank" can't collapse, the whole nation would collapse, just like how accountant can't bankrupt, the whole company can.

They just like to talk about the fact that central bank may lose its power over the finances of the people if the people decide to use crypto. That makes more sense, sure it won't be collapsing or even if it does people with bitcoin will be more ready, think of yourself like someone who held a lot of bitcoin in Venezuela before the crash and after the crash your money still worths a ton of things, you are not poorer, the "collapse" of central bank means exactly this.

Centralized...decentralized... which one is better?

I think that recent happening with GameStop shares is a big thing! Wall Street, Robinhood, stock market, reddit... You have many things about that everywhere! So I will not share links, and probably most of you from here are familiar with that situation and what happened!

It's interesting what's happening around the world in the last 10 years, to not go any further and off-topic! People (we all, me and you...) are learning about what internet can do, and what crypto can do... we learn what is what, and how to trust the information from any source. It's new time, and while we here (who are in crypto for longer) know more about terms like centralization/decentralization, free market, DeFi, all sorts of ICO's and IEO's (new project funding), how to trust someone from internet (no matter how far or close it is)... and many, many other things... still a lot more people needs to learn about them, and to find a way to apply them in real life!

I think we are heading to some sort of decentralization... banks (maybe there's a chance if all banks in the world can unite in one bank!) can't compete with crypto, in the way they are designed! A new time is coming, I think that central bank collapse started with the invention of Bitcoin, but in the end the entire crypto will participate in that... I think it's already happening, some smart contracts can do better and faster than any bank, higher efficiency/less cost and available to all 24/7!

This is a rather narrow mindset. Banks are not just a structure that provides individual financial services. It is actually a part of the state that serves the economy of this state. Therefore, the state will toughly protect its banking system. Banks will provide services in cryptocurrency only if it is beneficial for them. At the same time, states will remove any obstacles to the normal existence of their banking system.
Therefore, under the protection of the state, the banking system is not threatened by anything, including bitcoin.

It could be.

Like it or not, the vision of a world in which these currencies liberate money from the clutches of central banks.

And i believe in the future almost everyone will stick with the crypto money.

That is true-- given that the economy is running around the world with the use of fiat currencies since long time ago, even if cryptocurency will be used by almost everyone, I believe fiat currencies will stay the same and will still be used by the countries since it is regulated by the government. Cryptocurrency as a main currency used in everything, that may be possible but central bank will not be lost still.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 

I don't think Bitcoin will cause the collapse of central banks in the mainstream world. They're still too big to fail even with the damaging effects of the COVID-19 pandemic. Not even crypto/Blockchain tech's innovations have taken central banks' place in the mainstream economy. As long as governments depend on central banks for the issuance and management of Fiat money, they won't be going anywhere. Bitcoin and other cryptocurrencies will only remain as an alternative than a replacement to the existing monetary system.

Nonetheless, nothing is set in stone. If banks collapse, then governments might head back to Gold or adopt decentralized cryptocurrencies as the new standard of money. But the odds of this happening are very slim. With banks announcing they'll launch CBDCs (Central Bank Digital Currencies) of their own, it seems to me that they'll be here to stay. They'll just adapt themselves to the latest trends in technology. Bitcoin and other cryptocurrencies will co-exist with the new digital Fiat system for many generations. Just my opinion :)

True. Neither the banks can trigger a crypto collapse nor the vice versa is true because while crypto are powered by the people and controlled by us, banks are always under the government and a collapse of banks would mean a collapse of the whole country to be honest.

If that happens it also means a collapse for Bitcoins because to operate and trade Bitcoins we do need humans and if everyone is dead we don't have any possible way of keep Bitcoins alive either. As much as I like Bitcoins, I believe there is no possible scenario where the banks would collapse but the Bitcoins won't.

I don't think Bitcoin will collapse after central banks' demise in the mainstream world. While Fiat is used as a unit of account to measure Bitcoin's price, people can decide to change this in the long run. By the time central banks collapse, people will be using Bitcoin as the new unit of account. It will enable a truly decentralized economy like never before. But I doubt central banks will collapse anytime soon, as they're too big to fail. As long as governments depend on central banks for the issuance of new Fiat money, they won't be going anywhere. Central banks will eventually adapt themselves to the latest trends in technology. Already, some countries' central banks have announced the launch of CBDCs of their own. This will keep Fiat in-par with crypto for years on end.

Nonetheless, it seems to me that both banks and crypto will co-exist for many generations. Neither Bitcoin or central banks will be going anywhere. There will be a clash between the centralized and decentralized economy. People will get to decide which economy to support in the long run. Remember, Bitcoin was never meant to replace banks. It was created to serve as an alternative to the current monetary system empowered by central banks and governments worldwide. Banks will only become more powerful as they gain greater surveillance with the launch of CBDCs. Just my opinion :)

The moment when Bitcoin really threaten the Fiat system, governments will step in to "ban" it and to protect it. We saw massive bailouts to Banks and the traditional fiat economy when it nearly collapsed in 2018. Do you think for one moment that governments will allow any disruption to take place, without them fighting back?

We will see much stronger regulations and laws being promulgated in the future, to protect Fiat currencies. The other option that they will have, is to develop their own "GovCoin" (They will use tax payers money to fund it and developers will queue to get those government tenders)  ::)

Currently I see this scenario very far, since this scenario has already been envisioned or is being lived in countries like Venezuela, where its currency is totally useless, where all economists have failed their solutions and it really is a very unusual economy .

Inflation is huge, and despite everything people looked for alternative economies, the dollar, the Colombian peso is what moves the most in the country, the bolivar is what its currency represents, it is nothing more than that, having Bitcoin or Any cryptocurrency, the particular economy improves, bitcoin cannot threaten the FIAT system, governments always find solutions to find liquidity for them by devaluations, in a very difficult case to control, the first thing they will do through the banks is to put playpens .

In this, what can increase is the debt, that problem comes from many years ago, long before Bitcoin was invented.

Pep talk always feel good but the truth is that as long as governments exist there will be banking system and hence there is no way the central banks can collapse just because an anonymous asset is dominating the market. Imagine if dollar was doing good will other countries collapse? No way, similarly if an asset is going good doesn't mean others will collapse.

Actually for once we also need to consider that the value of Bitcoins is determined by how much fiat we are getting from selling the bitcoins and if there are no banks or no currency then I am just unable to even imagine how it would all go. Are we going back to the barter system that was in place years ago? I don't think this is happening ever.

Central banks are not business' that should be kept alive and can bankrupt, they are just organizations that basically controls a big portion of a nation's economy, but there is really nothing they could bankrupt, there is really no problem for them since there is no profit or loss for them.

Sure they could "profit" by providing quick loans to huge banks and make money from it, and reissue that profit when the nation needs money without disturbing the market and creating huge inflation, that is a way it could profit, or they could print countless amount of cash and drop the value of it which could be considered failed economy, but they do not bankrupt like a business, they just become good or bad that's it. Zimbabwe and Venezuela has one, they are still printing money and there is really nothing to care about. Long story short I agree that Central banks can never collapse.

The central banks of individual countries may experience huge problems, but they are usually not a catalyst for the financial problems of the state, because central banks usually perform a purely technical role of regulating the financial processes of the state. As long as the current system of government exists, there will continue to be a system of fiat currencies with central banks, and the opposite means only chaos and an emergency.

Bitcoin cannot trigger central bank to collapse because the founder of bitcoin, Satoshi Nakamoto did not create bitcoin to collapse central bank. Government will not allow anything that will collapse fiat money to stand in the country than to do everything possible to eliminate such thing in the country.

Here are some of the things Bitcoin cannot trigger central bank collapse:

1• Authority: The government has the authority to make sure there is money calculation all over the state. The government don't need to take any permission from anybody before money can be in calculation.

2• Equipment: The government has all the equipment to produce and re-produce any amount of money the government know that can save the government central bank not to collapse. Since government is not control by decentralized currency no way decentralized currency can collapse centralized currency.

Or central banks will just adopt blockchain tech and will make other crypto illigal. Thats sounds more realistic for me

They have been into blockchain technology for many years now. Because after all banks processed tons of data and they could really take advantage of blockchain in this matter. There are even arguments that it can save them a lot of money as well if they are going to adopt it.

I don't understand what you mean make other crypto illegal. But in any case, bitcoin will not trigger any collapse of this old system.

Otherwise. 2008 banking collapse "triggered" Bitcoin invention. If the financial crisis hadn't happened, Satoshi would have never invented Bitcoin.

I think there is also laws that prevent such a thing from happening as well, and the fact is that governments could decide to print or even burn money in order to decide what is going to happen with the economy of that nation makes sure that there is no problems at all.

For example one nation could print a ton of money, get bitcoins with it, make their own currency less valuable because they printed so much but overtime when bitcoin becomes a lot richer, they could gradually burn their fiat to make it more worthy eventually, and that way we could honestly live a lot better, obviously it is not going to be overnight success, but nations could use crypto to actually HELP central banks, which is a proof that it is not here to collapse central banks, it is just here and how you use it will decide on what it will do and if you use it smartly it will be of great help.

I absolutely agree that blockchain technology can be used in different areas and is not an exclusive inseparable part of bitcoin, and the use of blockchain in the banking sector does not pose any threats to cryptocurrencies at all. In fact, cryptocurrencies and central banks may well co-exist peacefully and there seems to be less hostility from financial regulators, but we must understand that in any case, under any conditions, the main priority for central banks will always be fiat currencies.

Exactly. It's practically impossible for central banks to collapse in their entirety since they're directly tied to the government. As long as governments force the use of Fiat currencies for mainstream payments, central banks won't be going anywhere. Bitcoin is only an alternative currency for those who want financial freedom. It'll never replace banks, because they're too big too fail. The only way this could happen is if governments adopt Bitcoin and other decentralized cryptocurrencies as the standard medium of exchange. But that's only a dream since governments want something they can control or manipulate. And we all know that Bitcoin goes against what has been established in the first place.

Nonetheless, CBDCs will ensure central banks will last for long in this highly-evolving world. They will adopt crypto/Blockchain tech for their own benefit. It may turn out that both Bitcoin and CBDCs will co-exist for many generations. There will be a clash between the decentralized world of crypto and the centralized world of bankers. People will ultimately decide whenever they'd want to support one side from the other or both. Just my thoughts ;D

I do not think this is ever going to happen, not when we still the Fed. I mean the govt, that's their own way of securing the economy of any country. The government of any country through the central bank of the country makes rules and regulations to monitor the ins and outs of the country's economy. When the economy is not controlled what do you think will happen to such economy. This is one of the reasons banks can never collapse. Even if other small banks do. The apex bank can never at all. And if we still have the apex bank, definitely we will surely have the local banks around. Being it commercial banks or the Microfinance banks they will also be operating.

How can Bitcoin cause the collapse of the banking system? Bitcoin does not threaten its existence at all. If the banking system felt this, then the states would immediately react to it very sharply, up to the prohibition of cryptocurrency. Despite various optimistic statements on this matter, the cryptocurrency has no chance of resisting the states. Therefore, it is better for a cryptocurrency to try to coexist peacefully with the currencies of states and their banking system.

they coexist together now. the problem with some countries is that the central banks or the banks own the state not the other way round which is why there is no collapse that will happen. the government will still have their control back when they finalize their CBDC. cryptocurrency isn't losing though because it's still going to be adopted as well. it's the tax that is going to be their next target which could be terrifying of all.

I have also recently seen a lot of information about the collapse of the current financial system and about the way out of this situation through Bitcoin, but all this casts doubt on this information, since usually no one talks about what will happen next. What is the point of those who want to change something to shout about it? I believe that the whole story with the collapse of the Baknov system is more of an information cover. It is likely that just someone really wants to get all the money in the world and the question arises, who benefits from it? It is beneficial for banks to control the financial system and people, making money on this constantly, but here we see the luring of big money. There is an opinion that they want to mitigate the collapse of the dollar system at the expense of cryptocurrencies, or even raise money and cash out the US debt, but destroy the banking system? I don’t think this is exactly the case, although I could also be wrong.

^^People keep saying that something will destroy economy and it never really does, economy is already a horrible situation at the current moment so why would having a competition would ruin it? It should help it, that is the free market capitalism supported all these years. If banking is so bad that even a crypto currency type of experimental currency can destroy it, maybe that means banking should be destroyed and rebuilt? I mean after all crypto is nothing, it is a decentralized coin and if your company can't handle that maybe you should be gone.

Back in the day people were slaves, when slaves revolted people said without slaves companies couldn't make money, this is only 100-150 years ago (and there is slavery even today) what happened? Jeff Bezos has 200 billion dollars so I guess without slavery (even though it is close to slavery situation) it can continue. Do not mistake what media and companies are telling you with truth, crypto will improve the world and not destroy it.

Yeah money and debt is the new form of slavery these days. Which would mean that eventually the people had enough and start rebelling against the system, like it happened with slavery. When I look back at my grandparents, they saw 4 different type of currencies in their lifetime.  A new currency doesn't always mean a collapse of the central banks but in most cases they go hand in hand. If we look at the super rich and how fast their wealth is growing, while the average salary is not chancing much over the last 10 years, it is just a matter of time until the system will collapse.

To understand how far away Bitcoin is from triggering anything: Gold has a market cap of around $10 trillion. Bitcoin has just one tenth of that. That means one Bitcoin would have to rise to around $500k to even begin to reach the value of all gold. And even then, it would have to rise much much further to even come close to all fiat money. Because only then would it be able to harm the monetary system.

Central bank would have their trust morally bankrupt first, there is bunch of ignorant would still stick with them, in the end they provide the means for life to many people with stimulus checks.

Why we mix these two things because central bank and cryptocurrency have their nature to serve. We need both of them now. Central bank operates the whole country money systems and controls inflation or deflation etc. Bitcoin never liable for central bank collapse while it may be an element of loss demand.

Yeah, this is another anti-bitcoin speaking point. Do not look at people who say things like "bitcoin is so awesome, it will ruin banks!!" they are not trying to say bitcoin is good, they are trying to secretly say "if bitcoin goes any bigger, banks will be gone and all of our money with it and it will be chaos" but they can't say that exactly so they hide behind things looking good for bitcoin and bad for everyone else.

Bitcoin will not ruin banks, there is banks that has 100+ different currencies in fiat, why wouldn't they add another currency called bitcoin? They will do that as soon as governments let banks become crypto exchanges basically. If one bank can hold both dollars and euroes that means they can hold bitcoin as well, all banks can do that. Which is why bitcoin is not a danger to banks, sure it could be for the small ones who ignore bitcoin, but all the ones that accept the fact bitcoin is too big to ignore will be fighting for it.

It's not really the case, actually, big investors and banks are now betting on bitcoin too. Bitcoin is like gold, scarcity and it's status is the only reason why one btc cost so much.
However, it is not a realistic option unless there is a fork that can make it scalable. Blockchain on the other hand and altcoins may indeed make the financial world more decentralized but we are not there yet.

I think the changing times will continue, there is nothing wrong in this. of course, every field must be able to adapt to a change. between the central bank and bitcoin have the opposite nature. I think the government will keep the central bank, but will consider crypto anyway

What can trigger the central bank collapse? It's foolish CB policy, not Bitcoin. When 2008 financial crisis happened, Bitcoin didn't exist.

Businesses need to have a country to register a company, they are required to pay taxes in that country's currency. It is not a big deal for businesses and citizens to accept Bitcoin and use it because central banks will have regulations for Bitcoin and cryptocurrencies. Banks are on the side of the government, so they will find a way to put Bitcoin on their side. Take a look at Goldman Sachs, Paypal, Visa, they are integrating cryptocurrency and making it a tool that benefits their business.

The fact is that the banking system is primarily aimed at providing certain services to individuals and legal entities. The banking system can use any currency, that is, not only fiat money, but also cryptocurrencies. Moreover, everyone knows that banks use assets such as securities and gold too. Proceeding from this, Bitcoin will not destroy the banking system, because banks are already starting to adjust to the current trend in order to use cryptocurrencies in the future.

They cannot go against Bitcoin because of its decentralization. They are adopting cryptocurrencies or whatever is profitable for them. I firmly believe that the brokerage fee for Bitcoin is a great deal.
They are forced to accept cryptocurrencies because if they do not, they will kill their own business.

- Disapproval only creates a small impact on banks when they lack some convenient services that can cater to some special customers and one factor that should be noted is that bitcoin is not at the monetary level of the world, people have an interest but overall, their attitude towards banks and national currencies is still predominant. Banks are a huge and unbreakable existence in every country, bitcoin can only share a portion of the service with the bank but is incapable of causing it to collapse.

Bitcoin can trigger the collapse of the central bank. This can happen. If Bitcoin is widely used by everyone and accepts payment by Bitcoin. Bitcoin has outstanding advantages compared to other currencies that do not need a central bank because Bitcoin is an equal dispersion system, so there is no central server or a control point.

Central banks have it's own CBCD, so I don't think that it can trigger the collapse just like that. They are established entity, with hundreds of years and with people that has a lot of vested interest on banks. So I would say that this will not happen in the next 10-50 years, bitcoin will be bitcoin and banks will just continue what they have been doing.

Exactly. Bitcoin is nowhere near close to replacing Fiat anytime soon. As long as this is the case, banks won't be going anywhere. These financial institutions will eventually adapt themselves to the latest trends in technology. The announcement of CBDCs tells us that banks will remain relevant in the mainstream world even with crypto/Blockchain tech in play. For banks to collapse in their entirety, something catastrophic must happen in the mainstream world. Maybe COVID-19 will make this a reality soon?

Nonetheless, we should face the fact that governments aren't willing to let go of banks no matter what. They rely on them for the issuance and distribution of Fiat. Expect to see both Fiat currencies and crypto live alongside each other for many generations. As long as Bitcoin remains decentralized and censorship-resistant, nothing else matters. Who knows what will happen in the future as Bitcoin becomes more popular in the mainstream world? Just my thoughts ;D

Those advantages are easier to be copied by central banks except the decentralization. I mean central banks may remain as it is, but the percentage of people who are depending on it may get reduced drastically as people may opt for their privacy and freedom. Overall, I am not expecting central banks to collapse completely but it may lose its dominance on common people as bitcoin may help people on ensuring their privacy and freedom.

Well, most people don't care about their privacy since they have nothing to hide. They might as well continue to patronize banks before joining the crypto/Blockchain bandwagon. I doubt central banks will collapse anytime soon since they still dominate the global economy. Governments rely on these financial institutions for the circulation of Fiat. As long as this is the case, Bitcoin will remain as an alternative to the current monetary system than a replacement.

At least, people have an escape route from banks. Bitcoin and other cryptocurrencies bring privacy and freedom to all. Given how banks are still relevant even with crypto/Blockchain tech in play, it looks like both crypto and Fiat will co-exist for many generations. Ultimately, Bitcoin will stand the test of time because of its battle-tested blockchain network. Banks are already recognizing how powerful Bitcoin is, leading them to explore the possibility of launching digital Fiat currencies to the world. With CBDCs (Central Bank Digital Currencies) bound to become a reality soon, banks will be here to stay for a long, long time. Just my thoughts ;D

Bank and financial services provider from the United States, Citi, said bitcoin is currently taking steps to become one of the currencies in international trade.

this is based on the number of companies that have begun to state that they will use bitcoin as a transaction tool, such as Tesla and PayPal. On the other hand, the United States central bank, The Federal Reserve, has also just made a statement that it will issue digital currency.

Citi's statement shows a changing trend in the view of major financial institutions towards bitcoin. Many banks previously looked down on digital assets. According to them, digital assets have no definite value. In addition, the current trend is nothing but a bubble phenomenon or bubbles that are ready to burst at any time.

it is very interesting to see the existence of the dynamics of the presence of bitcoin, but in my opinion to bring down the central bank is very difficult to happen even though the opportunity still exists.

It is that BTC does represent a lot of instability for some banks, because if we take into account that the debt is what gives life to them is the greatest threat of all, this reminds me of JP Morgan that he had to make available in his banks to be able to acquire BTC even though they don't like it, and this is having acceptance by new technologies and in turn it is a door of salvation for every bank, because they cannot be denied and go against the current. For the most defenseless economies, BTC is the best of all solutions, such is the case of Venezuela, since it is a country where there is no mass adoption of BTC because the population does not know about BTC, but the few who know and take advantage of BTC can have more privileges over the other inhabitants, since the currency has an inflation of over 6000%.

The central banking system has existed for many years and it has great economic and political significance, so its collapse will have a huge impact on the whole world. Bitcoin is only a payment solution, so we should not exaggerate.
The central banking system would still function well without Bitcoin. Loans, mortgages, savings accounts to receive interest will continue to take place according to the Government's regulations. Bitcoin could infiltrate the banking system as part of the solution. That would probably be better than competing directly with the banking system.

More likely, cryptocurrencies and central bank will collaborate and will be able to benefit from each other. Although it is not yet feasible for now due to the existence of cryptocurrencies and CBDCs, we can still expect that once crypto surpasses all the obstacles and gets legalized and declared as a recognized currency all over the world, central banks will surely be involved with the investments on it. There's a lot of things that will happen next to crypto and central banks, we can expect the worst or the best nevertheless, we should always prepare ourselves on either way.

Bitcoin can't trigger central bank but it can be adopted by the government to earn profit in bitcoin. As you can read in some reply here bitcoin is being adapted in some platforms like paypal and many more so I don't think bitcoin can trigger collapse since fiat is useful for those who can't use technology like phones and others.

such a scenario cannot be ruled out, China is very actively trying to stop the cryptocurrency rush for a reason, they have one of the strongest economies in the world and they see a threat to it. this anonymous payment method clearly causes irreparable damage to many economies, I believe that in the near future we will feel it

I think this is too much, I believe that crypto will be able to stop it, many countries are afraid of crypto which continues to skyrocket and become the best choice of many people and companies, this is certainly very dangerous for banks and centralized financial systems so that many countries are banned from crypto .

This means that if bitcoin is under the leadership of the government, bitcoin has lost its freedom. We can no longer freely determine how much profit it will make. Everything is under the control of the government.

What are you talking about, how do you know Bitcoin can bring down the central bank, you talk don't analyze using your mind and brain, you know Bitcoin is almost 14 years in the future, if the central bank collapsed, it might have happened two or three years ago, why is it still there today, even the profits of the central bank since the presence of bitcoin have doubled from year to year.

You are just making up news that is hoax, you yourself don't know the working process of the central bank, don't always rely on media news, 70% are hoaxes, 30% may be true, Media reporters, if the pay is the highest, that's what they load, you know what I mean.

What you need to know is: Central banks since the presence of Bitcoin they are progressing and big profits, that's what actually happened, fact.

But aren't they out of the game already? They've already banned mining in their country and it's only a matter of time for a total prohibition of cryptocurrency in their country as the release of their very own digital yuan is nearing it's due date. I don't think that it can cause a damage, the tax bureau can see irregularities in someone's assets when there's some spikes that didn't get taxed so it's not going to damage the economy plus the money goes back to the economy because it's spent by the owners, no point hoarding fiat right? Bitcoin can't trigger financial collapse, I don't how it can and given the current market cap of bitcoin, I don't think there's enough to do some damage.

There is no way central banks to "collapse" without themselves doing it first, they are already sort of doing it, central bank never really collapses period, because their job is to print money and they could be like Zimbabwe where they are printing more and more money, they can keep printing it and the economy could suck big time but just because everything sucks doesn't mean that they will be collapsing, they will just do a horrible job but they will continue to do their job, even badly but still do it.

There was a video of an African dictator (movie scene based on real life) who kept printing more money, even while their money begin worth less than a toilet paper in value, so what did he do? Asked central bank to print even more, that is just how it is in the world of central banks and crypto will not change it, most of them will be doing a horrible job like Venezuela or Zimbabwe eventually, they are a joke now but everyone will be like that in 50 years.

They did not hate BTC, they just have no idea what is Bitcoin.

But on the question, I think there's no reason to think that Bitcoin will make the central bank collapse because the Central bank is government, so it's tantamount to saying that the government will collapse, IMO, it's not gonna happen and it's very unrealistic to think about that.

Getting hype is okay and bitcoin really has a good potential of increase in adoption in the future, but not to the same level as the number of fiat users now.

I don't think we will see in our lifetime that bitcoin will indeed trigger the collapse of central banks.
I understand a lot of people are very happy with this new invention in digital currency.
But it is too early to think that it will significantly impact the traditional way of banking system.
Let us be grateful that some banks are already accepting crypto but replacing the local fiat, I don't think that's gonna happen in the coming years.

This is just said for a beautiful word, because the collapse of the central bank is the collapse of the state itself and it can lead to nothing good, especially for the ordinary population. The state exercises its power, including through monetary policy, the activities of which are regulated through the central bank. The central bank can print as much money as it wants, but it will never do it on its own initiative, and if the amount of money exceeds all reasonable limits, it means that very bad events have occurred in the state or there is simply a problem of the state administration itself and its competence. Bitcoin is a great idea, but by itself it is not capable of both fixing state problems and arranging problems in the presence of normal state power.

Exactly. Banks dominated the mainstream economy for a long time. Even with crypto/Blockchain tech in play, Fiat is still "king" when it comes to paying for goods and services anytime, anywhere in the world. The vast majority of merchants and businesses accept Fiat on top of crypto because of its stability, trust, and backing by the government. One thing for sure is that central banks have the power to manipulate the economy to their own convenience. They can inflate Fiat currencies, increase or decrease interest rates, and more. These financial institutions will never collapse as long as governments are backing them. Only a full shift from Fiat to crypto will make banks disappear for good. But that's very unlikely to happen anytime soon. Time will tell us the fate of both crypto and Fiat as technologies evolve in the mainstream world. Just my opinion :)

You’re very accurate. People keep saying this without knowing the meaning what they are saying. Some of them really do think it would be a good thing if the central bank should collapse. For the central bank of a state to collapse means that the state has fallen, and it’s very bad. In countries where the central bank is at the brink of collapse, people goes through a lot and the rate of crimes increases in such places.

And nobody likes living in a country where there is crisis and all that bad stuff. So, this is never something to wish for. It is not bad to have both Bitcoin/cryptocurrency and fiat. They are all good and they have a different role to play.

Those people who say that are mostly newbies so they believe that this one will happen since for them they really think spread of bitcoin could make certain currency fall, while in reality there's a law and if there's a law the government is there so make this as strong barricade on why we cannot see central bank collapsed. If they see bitcoin then provably this might happen so maybe lets just think about bitcoin as a good alternative since if people push this maybe we see massive banning the usage of it on certain countries.

this is really hard to say bitcoin is triggering the collapse of the central bank because at the moment central banks are still the real payment place for many people and they hate BTC they think BTC is a virtual currency and is not stable.

Bitcoin is and will always be an alternative to the current financial system. Governments don't want to lose control over people's lives, so they'll continue to support banks no matter what. Despite Bitcoin's success, Fiat is still the most dominant form of money worldwide. The vast number of merchants and businesses alike accept Fiat on top of crypto simply because it's stable, reliable, and backed by a trusted authority.

One thing for sure is that Bitcoin is good as a store of value, but terrible as a currency for day-to-day payments. Besides, banks already announced the launch of CBDCs. This will enable them to gain all of the benefits of crypto, without the issues of volatility and limited transaction capacity. Considering that banks are still relevant even with crypto/Blockchain tech in play, it seems to me that Fiat and crypto will co-exist for many generations. Just my thoughts ;D

Not all central banks hate bitcoin.

You can acknowledge those countries that have been open to bitcoin and their central banks are supporting it. They're looking at the chances and possibility that it may bring good outcome to their citizens and as well as economy.

i think he didnt mean banks but he mean the people hate btc .
 there are people that btc and there also people that dont know yet if what is btc ,
that is why they just stick on the traditional payment system but your also correct here that there banks that are willing to collab with btc and maybe the banks can be the one that will introduce btc to those btc haters and to the people that have no idea what btc is .

The first thing to look at should be what is the practical significance of Bitcoin itself to the world's finances?
Is it to replace the central bank? Or to change the current financial system. I don't think the central bank will collapse. If the central bank collapses, it means that the world's government organizations will be completely subverted. Then whether it is capitalism or socialism, the societies of various countries The system will change.This will be a war to break a huge social system that has been going on for a hundred years. I don't think it is necessary.Impossible.

Yes, he didn't.

But what implying to say is that not all the central banks hate bitcoin. It is what I'm trying to say not implying that all of them or some of them hates it.

Well, obviously he said it's all about the central banks not the people working for it as it is in general.

it is clear that regulation has been hindering the development of cryptocurrencies
they are looking for a way to be less visible, clever and cunning way

Decentralized cryptocurrency cannot influence the existing global financial system to such an extent that the central banks of states collapse. After all, this will mean the collapse of the entire existing system of power. States will simply not allow this. They have enough leverage to persuade and coerce to prevent such changes. And cryptocurrency does not have such an opportunity and does not set itself such a goal. It is intended to exist as an alternative financial instrument to the current financial system, but not to replace it.

Not really.....the central bank is fine for now Bitcoin is not as bad as you think prejudiced it's not okay the central bank doesn't say so everything is going normally, I think Bitcoin is not destroying the central bank Bitcoin will save the central bank from the world's corruptors.

Banks will do their best to antagonize bitcoin and make it look as if they are trying to destroy our society as we know it when what it is probably going to do is to evoke a paradigm shift for a better and much more sustainable economy and future for our children. Central Bank wouldn't collapse just because of bitcoin because even if we assume that bitcoin would cause fiat's discontinuance, there's a 99.5% chance that they have other forms of asset such as precious minerals and metals where they can store value from, so a collapse wouldn't happen per se. Would've been better if you at least offered your own reasons for thinking such but I cannot say I don't agree with what you've said. Bitcoin's decentralized nature makes it so no 1% elite is able to tap into its powers and use it for their own good while the rest of the planet is dying of pollution and starvation. Moreso, Since it's mostly powered by electricity we would soon be able to employ cleaner and much more efficient methods of acquiring resources for electricity, hence allowing for a cleaner, greener future.

Bitcoin wasnt created for this sole purpose but rather been focusing most of the time about decentralized payment and for sure Satoshi does know that it is impossible to take down the banking system

thats why he do make out some alternative and created Bitcoin for that purpose and it did really get much demand and recognition and i cant really blame off into those people who do really find out

that this is really something could make central banks collapse but if i were to say that this is something impossible to happen because as long government do exist then they wouldnt let it to happen.

Why can't bitcoin coexist with central banks?

I see a future in which bitcoin acts as an alternative for those who believe that central banking is broken and fractional reserve is ultimately unsustainable.

These people will hold the majority of their wealth on the blockchain, where their wealth is secured by decentralisation. But inevitably there will also be a fiat economy that is only accessible through fiat currencies - and there will be interactions between the crypto and fiat economies through third parties.

Bitcoin has unique potential but probably not the answer to everything and the last time I check it was introduced as an alternative currency to make people financial freedom and also to make bank/government sees new possibility. It is not to save the bank but blockchain have the potential to save the bank.

Exactly. Bitcoin doesn't need to replace banks. It can work well as an alternative financial system anyone can enjoy in times of need. The many limitations of Bitcoin, makes it a terrible Fiat replacement. Banks will still be relevant because governments endorse them. After all, Fiat currencies make the world go round. Given that neither banks or Bitcoin will be going anywhere, we can assume that Fiat and crypto will live alongside each other for many generations. I'm fine with that as long as Bitcoin remains decentralized and censorship-resistant. Just my opinion :)

Not really sure your wealth is "secured" by an asset that has such extreme volatility.  In reality, almost nobody moves a significant portion of their wealth into crypto.  Almost every significant stake holder either has a small minority in crypto, or came into crypto holdings through minimal external investment and just lucked into the huge price swing.

Yes, it was right. Crypto or blockchains are already there and the people who adopts it are continously increasing each day so, in order to make the central banks to not collapse on the very far future, they need to adopt it and make some adjustment too.
If the government do not accept bitcoin, central banks will never collapse because it will always be needed.

Exactly. The central banks won't be triggered by crypto because its more established than crypto and people will still be needing it no matter what.

However, if the people themselves will stop from using it and chose bitcoin then maybe it might be fully triggered that will cause its collapse. But so far, central banks are still in huge demand so i don't think it will be threaten by crypto.

and i believe that situation will not happen in our lifetime. as it was mentioned, traditional banking system has been established for decades and decades already, so for me this new technology will not trigger the collapse of banking system. they may really adopt the technology to hasten their process, but it will not replace or collapse their system. up until now, the percentage of crypto users vs global population is still very small. though the adoption is increasing but as i said, we may not see in our lifetime that bitcoin or any other crypto will replace the traditional banking system.

If central banks don't start to integrate digital currencies to their system, I also believe that Bitcoin can cause central banks to collapse. It is already obvious that we won't go on with fiat currencies forever. Governments are developing their own digital currencies to get ready for the future. There will be no more fiat currencies after some point. So, central banks can't maintain their existence while only giving place to fiat currencies.

Let me ask you the opposite question, why can't we use fiat forever, I don't know what would be a good reason for this question, if you think it's future environment and need more technical, central banks as well as ordinary banks have also provided such techniques, from physical money being transferred to banks and you will have an account with the corresponding balance, all legal and securely managed. Such techniques were born earlier than crypto, and despite the addition of other techniques, fiat is still a condition for updating balances as well as converting some small transactions

I don't think central banks will end up being collapsed if bitcoin will not be integrated into their system. If we are just aware, they have been preparing for it once bitcoin will gained a lot of users they will also come up with their own digital currency that is fully centralized. Central banks will stay for long as long as there are people who keep on using fiat and its own digital coin in the future.

Although bitcoin might be a threat to central banks but it will never end up being collapse because i believe bitcoin is not made to compete with fiat and all its financial institutions but rather to co exist with them and made the consumers feel more convenient.

This is true for me. I know i'm a fanatic about crypto but i don't think that bitcoin will eventually cause the government and its traditional financial system to collapse. Because if we see that way, then bitcoin  is not doing its purpose anymore. It may trigger the old financial system because most of the people here are already into new technology and digital currencies but it will not come to the point that it will replace fiat and make the central bank to collapse.


Yes, bitcoin has become more popular today but its utilization is still less because only few countries are legalizing the use of bitcoin. So it cannot replace the whole traditional banking system not today or in the near future.

Volatility shouldn't be a problem if you use Bitcoin directly for everyday payments. But most people often cash out Bitcoin to Fiat, greatly defeating its purpose. Always remember that 1 Bitcoin equals 1 Bitcoin no matter what. What makes Bitcoin inferior to Banks is its limited transaction capacity. High fees and slow transaction confirmation times, makes Bitcoin a terrible Fiat replacement. If it wasn't by that, Bitcoin would've taken down banks already. What makes banks stronger is government backing. They won't be going anywhere since governments continue to patronize them. Fiat will experience inflation over time, but that's it. Everything will revolve around Fiat since it's been around the scene for quite a long time. Bitcoin is still relatively new to the mainstream world so not everyone trusts it as a currency. What matters is decentralization and censorship-resistance. As long as people have an "escape route" from the current monetary system, there should be nothing to worry about. Just my opinion :)

Even if bitcoin will be legalized, it will still not attract huge adoption due to its volatility, unless some 3rd party business would help to eliminate the volatility risk, which would probably make the transaction fee higher. There's one country now that has already legalized Bitcoin as a legal tender, let's see if their experience is good and it would really gain a lot of adoption.

Even if the current banking system had not started introducing digital technologies, it still would not have disappeared anywhere. For central banks to disappear, you must first destroy the current system of social order, which is based on individual states, because banks are an integral part of states. However, human civilization does not know any other structure of society. However, we see that the banking system itself quickly introduces advanced digital technologies and there is no need to worry about it.

With bitcoin then all control is in hand, if we want to send large amounts of money then we need the services of a bank, this is what makes us too dependent on banks, at a cost of $ 8 we can send bitcoins in the amount of $ 10 or $ 10 billion or whatever the value because of control full is in the user.

The fee is being determined to the size of a transaction. If the size isn't that much then expect that the fee won't be a lot.

But on these times, the transaction fees being made in bitcoin aren't painful and they aren't that much anymore. And that's why it's very optimistic to do transactions in bitcoin to this date.

Triggering the banks to collapse, it's all about people learning to hold their own finances through bitcoin.

The financial crisis that happened in 2008 was the reason why bitcoin was born in 2009, and yes since the bitcoin was created it haven't triggered any economic or financial crisis at all because its value is not that huge and it's not introduced yet into public like these days. Bitcoin was orignally created to gave people more option and as a digital currency rather than just using fiats into payment system, but since bitcoin now is so popular and it is the most trusted crypto and digital currency, it made the central government and banks to shake because of the people continually converting their fiats into crypto due to lack of trust and to avoid inflation.

People wants to save and be comfortable that's why many have choosed the "bitcoin option" rather than placing it in banks in the term of "savings" while in-fact their fiats is slowing deprecated.

As you said there i don't think it can bitcoin has the power to trigger central bank to collapse since , central bank is the one who supporting countries who needed financial funds as they one who give them money as debt to pay every month and it will be taxed it to the people of one country , If central bank has an eye for bitcoin maybe it can adopt to be a part of blockchain and it will be evolved as one or they can be use to transact money faster without big taxes, But i don't think government will not take that idea coz they have full authority with central bank which they can easily manipulate money and if you compare fiat into currency they always choose fiat where they have a full control to it.

It is not happen anymore because Central bank is important roles in every country ,bitcoin can make a good partner for the Central bank.We know that many countries have a big problem about internet connections , thats why many people trust to use Banking than investing Bitcoin. Remember , this two can help us and give some beneficial in many ways to all users.

The central bank will always be protected and defended by the state, it is impossible for bitcoin to eliminate the role of the central bank because the state financial system will always be centralized and the central bank that controls it, may only reduce transactions a little but it will never be real to eliminate the central bank.

it's smart because bitcoin can quickly recover from the collapse of the central bank and somehow bitcoin will remain a digital currency, even if its prices go down, it will also go up eventually and the central bank will return it in an orderly way.

Not only are they protected by the country, central banks are protected by the largest funds and financial corporations when it can be said that central banks are the brokers between companies as well as lending and investment policies, once the cornerstone is destroyed, the whole financial wall will fall, not only domestic influence, it will spread internationally when they have a connection. Banks as a place of hidden resources from related to money, bitcoin will certainly create more work for the bank and only reduce some less profitable and unnecessary activities.

Bitcoin fees are cheap right now probably because most exchanges and service providers are using SegWit (Bech32). That and the fact that activity on the Blockchain is quite low compared to the days after the halving of 2020. As long as fees remain low, Bitcoin can remain a competitive payment system in the mainstream world. But I wouldn't count on Bitcoin replacing banks, since the latter is too big to fail. Governments still rely on banks to issue national currencies, so I seriously doubt they're going to switch to a decentralized cryptocurrency like Bitcoin that's outside of their control.

Of course, banks may collapse but they can easily rise from the ground up. That's because these powerful financial institutions can manipulate the economy to their own will. I'd focus more on Bitcoin being an alternative to banks than all the other way around. Just my opinion :)

Your words and thoughts is kinda pretty similar to mine and yes, you are right. That's the point, in my own thought i also wouldn't think that bitcoin would trigger the collapse of the banks.

You have to consider the governments first, i don't think that they will let that happen and i know that they wouldn't allow it either. We are already used to the banking system and a lot people prefers banks over bitcoin but then again banks will never collapsed.

It's up to the government itself. If they don't allow bitcoin in their country then the banks would stay still, standing all over the city and continuing to grow and develop. Also banks are in a huge demand. Besides, if ever the banks collapsed, i don't think that the citizens will be okay with it. It needs a lot of adjustments to adopt a new change.

Change always happens and sometimes changes make people cry, those who cry because they can't adapt to the times so they are left behind, the presence of a centralized bank system makes anyone not free to control their money, the presence of decentralized and anonymous crypto is more in line with current conditions .

When we can control all financial functions easily then we no longer need a central bank, the modern era that makes us transact internationally requires a currency that can be accepted globally and that of course cannot be controlled by the central bank, and this is what makes one day central banks die because crypto users are unstoppable.

If crypto users are unstoppable then what happen to China? If the government will outlawed crypto transactions like China did then what will happen to ordinary citizen crypto users and how can they break the law?

Bitcoin has been proven to be able to make customers switch to crypto, this is what makes the central bank worried if crypto continues to increase, complete money control makes anyone not worry about saving their money into crypto and of course this will make the central bank collapse.

I think Central Bank is not yet worried about cryptos because crypto is not yet declared as legal tender or as a mode of payment (here in my country) and so no any kind of business is accepting crypto payment. Fiat money is still backed by the government and is still recognized as legal tender. Crypto has a long way to go before it can collapse the Central Bank.

Bitcoin will not cause the central bank to collapse. The central bank has been around for a long time, and it is protected by the state. If the central bank collapses, it will have an impact on the world economy. Banks will also realize the benefits of cryptocurrency and launch their own digital currency to promote economic development.

Of course. It was never about destroying banks. But rather serving as an alternative to the current monetary system. Bitcoin's been doing its job pretty well as a decentralized cryptocurrency anyone can use anywhere in the world. As long as people have financial freedom with Bitcoin, nothing else matters. Central banks are backed by the government, so it's hard to imagine they'll collapse anytime soon. They're still relevant even with crypto/Blockchain tech in play. With how everything's been progressing, it seems that both crypto and Fiat (in the form of CBDCs) will exist for generations. I'm fine with that as long as people have the freedom to choose from one type of currency to the other. Just my thoughts ;D

Don't worry, banks will always exist as long as there is a state, of course the function of a bank is to maintain the circulation of money and the country's economy, it is dangerous if a bank dies, even though crypto continues to grow but I'm sure it will never turn off banks because the influence and function of banks is difficult to replace.

Banks may be unnecessary for individual citizens. And then, it is unlikely that such citizens stop fully using cash that is issued by the central bank. No matter how much the number of cryptocurrency users increases, this will not affect the operation of the banking system of any country. On the contrary, banks are under the protection of the state, and it is capable of eliminating any threat of their existence by its methods of regulation.
So far, the G20 countries have concluded that cryptocurrency does not pose a threat to global financial stability.

If you look at cryptocurrency 5 years ago and now, this is a big difference. Now decentralization is only on paper, but in fact centralization and total control are worse than banks. (I'm talking about CEX)

Exactly. Banks aren't going anywhere soon. After all, governments depend on central banks for the circulation of their national currencies (Fiat). Bitcoin is and will always be an alternative to the current banking system. That's because its decentralized design prevents it from replacing Fiat. Bitcoin is still an experimental cryptocurrency despite years of research and development. There are many issues raging from lack of fungibility, limited transaction capacity, and high price volatility. Banks will always control the mainstream economy, so Bitcoin and CBDCs will live alongside each other for generations. I'm fine with that as long as people have an escape route from the banking system. Just my opinion :)