What if every person loaned money from a bank or maxed out their credit cards to buy Bitcoin and deliberately not pay out those debts. Would that start "killing" the banks or, at all events, dent their dominance?
Sorry if this might be a shit topic. But go ahead, discuss. Haha.
Banks don’t typically loan money without some kind of collateral or at least the knowledge that you earn money or have assets. If you default on a loan, the bank will come after the money, so I don’t see people getting away with that. Banks will foreclose on houses, garnish wages, and go after asserts such as vehicles and bank accounts. They have the resources to get the money.