Banks against the crypto

[South Park]

This is how banks were able to beat gold and put their fiat in its place, people were unable to secure their gold and then banks offered to keep their coins safe for them and then they began to use fractional reserve banking to increase their profits, if we really want things to change we need to take responsibility of our coins and store them safely ourselves especially since hardware wallets are so cheap, but I do not have high hopes this will happen and so banks will try fractional reserve banking with bitcoin once people give up control of their bitcoins to them.

We have no reason to give our bitcoins for the banks to keep,if we are doing that means there is no means for decentralization here.

Everything will change,so people also may get changed in the future if we want to be their banks rather than trusting a third party and giving them opportunity to make money for themselves.

That is true for people like ourselves which know enough about computers to secure our devices properly and take extra steps to avoid being hacked, but most people do not have that expertise and if bitcoin gets adopted globally as we want then hackers will steal a huge amount of bitcoin from many users, at that point banks will see their opportunity and offer their services and people will fall for it because they always fall for tricks like that.

Believe me I would like to believe in the people and I would like they relied on themselves to store their coins but they will take the easiest solution available to them which will be to delegate the control and responsibility of their coins to someone else.

[1714173703]

1714173703

[1714173703]

1714173703

[daarul50]

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

Banks will certainly adapt to the changing situation. They are already working on solutions that are beneficial for them. I do not think that cryptocurrencies could lead to the disappearance of banks. They are too small a part of global economy to threaten the importance of banks.

Why do most people think that bitcoin can threaten the bank, even though all this time without us knowing the bank and crypto have worked together for a long time but the cooperation is not in writing like other agreements.

[BestSSS]

No matter how quickly and strongly the cryptocurrency develops, banks will not go anywhere and will live for a very long time. If the day comes when people will start to pay in cryptocurrencies, the real money in any case will not disappear and will continue to exist together with the cryptocurrency.
In addition, most likely in most countries, the crypto currency will not be allowed as it causes damage to the economies of countries. If the money will no longer pass through banks, government agencies will lose a decent amount and it is not profitable for them. So we won't be left without banks anyway.

[Tungsten-1]

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

the point that you are mentioned in second point will be apt for currency because cryptocurrencies are not against anything and banks also not against the cryptocurrency we need some adjustments if it happens then all the things are going very properly it will be very good for the future also.

One thing I am sure about it crypto currency is not against banks but I am not sure about banks if they are gonna accept the reality that crypto is future or not, because as much I can see people are taking good interest in crypto currency and losing interest in banks, it gives them profit and they are making money but banks are just storing our money for nothing.

[LUCKMCFLY]

I do not believe that they can dethrone the banks, simply because in the world the security standards in the economy are managed under insurance, that is, economies that are supported, either by gold or by any precious metal that has worldwide validity.

The bitcoin represents risk economists, can not establish securities or simply can not control it, this is something they do not recommend, that is why the bank will not accept bitcoin completely, because it is not a supported currency, because it does not have liquidity, only survives because of the immense demand and supply.

Although Bitcoin represents financial freedom, banks will always prefer that people have to limit their profits and that they are assigned how much money they have to manage, with bitcoin you can manage large volumes of money without anyone controlling the movements.

However, the time will come for people to feel that FIAT money will not be as useful as cryptocurrency and little by little they will move on to technology, but that is little by little, in the very long term.

[Finestream]

No matter how quickly and strongly the cryptocurrency develops, banks will not go anywhere and will live for a very long time. If the day comes when people will start to pay in cryptocurrencies, the real money in any case will not disappear and will continue to exist together with the cryptocurrency.
In addition, most likely in most countries, the crypto currency will not be allowed as it causes damage to the economies of countries. If the money will no longer pass through banks, government agencies will lose a decent amount and it is not profitable for them. So we won't be left without banks anyway.

I agree.Even if mass adoption for crypto will take place,i think banks will still remain.There are still a lot of people particularly the old ones who still prefer to use banks in storing their money than crypto.And crypto is not really made to replace banks.It only serves as an another option aside from fiat currency so they can be as well work together to serve the people.

[Daboy_Lyle]

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

Banks avoids getting loss because of bitcoin. They are against Crypto because it is not unstable where in they will get loss or get benefits. In our country banks are always against cryptocurrency when it comes creating bank account but we can use to wothdraw our cryptocurrency through banks by the use of our mobile wallet the coins.ph. I visited a bank last week and tried to create an account and they asked what is it for and what kind of source do I'll use for depositing and I answered It is for cryptocurrency then they denied my creation immediately because they don't accept cryptocurrency as a deposit.

[Lanatsa]

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

Banks avoids getting loss because of bitcoin. They are against Crypto because it is not unstable where in they will get loss or get benefits. In our country banks are always against cryptocurrency when it comes creating bank account but we can use to wothdraw our cryptocurrency through banks by the use of our mobile wallet the coins.ph. I visited a bank last week and tried to create an account and they asked what is it for and what kind of source do I'll use for depositing and I answered It is for cryptocurrency then they denied my creation immediately because they don't accept cryptocurrency as a deposit.

Banks arent really concerned that crypto is unstable.The only thing that they do worried about that people would use crypto services due to
less fees and almost instant transactions which in result would affect the profitability of banking sector thats why they do attack Bitcoin and other cryptos
due to that reason.

[gabmen]

No matter how quickly and strongly the cryptocurrency develops, banks will not go anywhere and will live for a very long time. If the day comes when people will start to pay in cryptocurrencies, the real money in any case will not disappear and will continue to exist together with the cryptocurrency.
In addition, most likely in most countries, the crypto currency will not be allowed as it causes damage to the economies of countries. If the money will no longer pass through banks, government agencies will lose a decent amount and it is not profitable for them. So we won't be left without banks anyway.

I agree.Even if mass adoption for crypto will take place,i think banks will still remain.There are still a lot of people particularly the old ones who still prefer to use banks in storing their money than crypto.And crypto is not really made to replace banks.It only serves as an another option aside from fiat currency so they can be as well work together to serve the people.

Well it may change in time that's for sure. Eventually the old ones who are not open to change wi be replaced by newer generations that have been exposed to crypto already. I guess that's how transition will be. So in case crypto overtakes banks, it'll probably be on 2 or 3 generations.

[Dimas99]

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

all possibilities can happen and no one can ensure that in my opinion the bank will not lose the possibility that in the future technology obtained from crypto currency will be adopted by the bank

[malikusama]

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

It's difficult to completely vanish the banking system but not impossible at all.
The banking system have strong roots in our economic system of world, and cryptos are too young so it will take some time to transfer financial power from banks towards cryptocurrencies.

[richminded]

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

Bank will stay, but cryptocurrency will be more dominant in the future. Its hard to kill a multi-billion company, they will also adopt for sure and it can be a better banking system in the future. We have to be focus on helping cryptocurrency to succeed for a more better future, we should not let anyone to destroy this market.

[Altero]

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

Bank will stay, but cryptocurrency will be more dominant in the future. Its hard to kill a multi-billion company, they will also adopt for sure and it can be a better banking system in the future. We have to be focus on helping cryptocurrency to succeed for a more better future, we should not let anyone to destroy this market.

Will have a crypto dominance once people would used and invest crypto, and also the participation of the government. And it may take many years to come before we have that thing since crypto development still on going and due to some issues of its stability.

With that matter, banks will still remain in service and provide their functions knowing that they are the most reliable companies where we can stored our money safely. And I don't think that they against on crypto but maybe they are pursuing also to adopt the system.

[andika2018]

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

Bank will stay, but cryptocurrency will be more dominant in the future. Its hard to kill a multi-billion company, they will also adopt for sure and it can be a better banking system in the future. We have to be focus on helping cryptocurrency to succeed for a more better future, we should not let anyone to destroy this market.

Will have a crypto dominance once people would used and invest crypto, and also the participation of the government. And it may take many years to come before we have that thing since crypto development still on going and due to some issues of its stability.

With that matter, banks will still remain in service and provide their functions knowing that they are the most reliable companies where we can stored our money safely. And I don't think that they against on crypto but maybe they are pursuing also to adopt the system.

Banks already have long experience in any politics, economic situation and always able to adapting. If peoples using crypto for transaction, banks will adapting in crypto world and right now, many banks already involve in crypto market

[shesheboy]

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

Bank will stay, but cryptocurrency will be more dominant in the future. Its hard to kill a multi-billion company, they will also adopt for sure and it can be a better banking system in the future. We have to be focus on helping cryptocurrency to succeed for a more better future, we should not let anyone to destroy this market.

Will have a crypto dominance once people would used and invest crypto, and also the participation of the government. And it may take many years to come before we have that thing since crypto development still on going and due to some issues of its stability.

With that matter, banks will still remain in service and provide their functions knowing that they are the most reliable companies where we can stored our money safely. And I don't think that they against on crypto but maybe they are pursuing also to adopt the system.

Banks already have long experience in any politics, economic situation and always able to adapting. If peoples using crypto for transaction, banks will adapting in crypto world and right now, many banks already involve in crypto market

Banks will surely adapt crypto but not all are expected to do it because some banks will always be against crypto because crypto and banks have a different advocacy  . crypto wants to be independent while banks are dependent  .  if i were to ask , id say im already contented on what banks and crypto has to offer .  there is no need to replace the other older service for a new one because both service are already working fine as intented  .

[Vaskiy]

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

Bank will stay, but cryptocurrency will be more dominant in the future. Its hard to kill a multi-billion company, they will also adopt for sure and it can be a better banking system in the future. We have to be focus on helping cryptocurrency to succeed for a more better future, we should not let anyone to destroy this market.

Will have a crypto dominance once people would used and invest crypto, and also the participation of the government. And it may take many years to come before we have that thing since crypto development still on going and due to some issues of its stability.

With that matter, banks will still remain in service and provide their functions knowing that they are the most reliable companies where we can stored our money safely. And I don't think that they against on crypto but maybe they are pursuing also to adopt the system.

Banks already have long experience in any politics, economic situation and always able to adapting. If peoples using crypto for transaction, banks will adapting in crypto world and right now, many banks already involve in crypto market

Banks will surely adapt crypto but not all are expected to do it because some banks will always be against crypto because crypto and banks have a different advocacy  . crypto wants to be independent while banks are dependent  .  if i were to ask , id say im already contented on what banks and crypto has to offer .  there is no need to replace the other older service for a new one because both service are already working fine as intented  .

Already large financial institutions have invested on cryptocurrency indirectly. Banks won't adopt bitcoin, they might come up with the plans of adopting the technology. Already more banks have done it and under testing. Banks might add bitcoin as an added service, but this takes time as governments need to legalize the use of cryptocurrencies.

[Caladonian]

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

Bank will stay, but cryptocurrency will be more dominant in the future. Its hard to kill a multi-billion company, they will also adopt for sure and it can be a better banking system in the future. We have to be focus on helping cryptocurrency to succeed for a more better future, we should not let anyone to destroy this market.

As they can adopt crypto as well, if they seen big opportunities we never know what this big businesses can do inside the financial market, the business will still exist and continue, there's no such thing that can prevent them to work alongside with crypto so it would be possible that this two system will
co-exist in the future helping the financial industry.

[ongkok87]

That is certain because from yesterday it is still an obstacle for developing crypto in countries because it is still difficult for children to accept crypto currencies, even though the government is willing to look at the crypto currency well

[TheUltraElite]

Will have a crypto dominance once people would used and invest crypto, and also the participation of the government. And it may take many years to come before we have that thing since crypto development still on going and due to some issues of its stability.

Lets make it very clear here. Governments are not going to accept something that makes hiding their black money and bribery easy. So saying that government is going to accept crypto is like living a dream with a few countries being exceptions. Even then the speculation and bad rumors going on with them makes the system even more volatile in Venezuela not to mention the world economists saying bad things about it. This leads to panic among people who have very low income and cant stand the prices of things for long - it leads to loss of lives.

With that matter, banks will still remain in service and provide their functions knowing that they are the most reliable companies where we can stored our money safely. And I don't think that they against on crypto but maybe they are pursuing also to adopt the system.

What will happen in future is not for us to know from before but to see with our own eyes. Banking system wont go down even when crypto rises. Fiat will be there but the importance might differ.

[kaya11]

We are not so sure, it's like a game of thug of war. Whoever have the edge surely wins. For now banks are ahead of crypto currencies. Even so, we can't fully disregard the use of banks, they profit from loans and interests. Crypto have the same characteristics, there are also projects who can loan you. Even the world will be fully run by Blockchain still banks will be present.