Banks against the crypto

[conected]

Here is my own opinion about why the banks afraid of crypto. First thing is about the financial system, crypto can save your fiat without depositing on the bank and second is the banking system. If everyone would invest and save their fiat to cryptocurrency banks is nothing and no one who use banks. Indeed, they are afraid that soon cryptocurrency will their biggest competitor when it comes financial and banking system.

- You have talked about many advantages and outstanding features of crypto compared to banks, even said that crypto is almost a competitor and it will probably replace the bank but you should look at everyone's choice, what you are appreciating, it is not everyone's choice, almost everyone chooses the bank. No one intends to abandon banks and switch to crypto because banks and governments have a special relationship, it creates trust and credibility for users, even ensuring that our money won't have any risks, so the bank is not against crypto, crypto is not considered a rival of the bank

[befriendmywater]

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?

They must definitely adjust the trading system and optimize the benefits for customers. sooner or later, banks must also need blockchain technology to upgrade their trading systems.
crypto is still incomparable to banks because its structure is quite complicated and it is a big barrier for many people who do not understand much about technology.

[Anies_Sandi]

That is certainly because the one that is still difficult for Bitcoin can be accepted by the country because its influence is a bank, the solution with the Bitcoin bank is that it does not like and prohibit because they are afraid that the community will use digital currency instead of paper currency even though until whenever the paper currency will definitely be used continuously

[Yusuf77]

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 bank disappeared because the crypto in my opinion is not possible in my opinion the bank will adopt the economic system used by the crypto currency in my opinion

[el kaka22]

I don't think things are as simple as banks vs crypto. Banks made sure that crypto is not against them by turning it into something people could make a bit of money and instead of transaction greatness crypto has it is now an investment thing.

Back in the day banks didn't love bitcoin because it was mostly used by people to use instead of dollar and thanks to bitcoin being decentralized and can't be controlled banks wouldn't be capable of taking advantage of bitcoin like they do with fiat and governments, they couldn't bribe their way into more money.

Now everyone is after buying bitcoin at right price and selling bitcoin at right price to get richer which works out the best for banks because many people make money but many more lose money at the same time.

[Ucy]

Well, I see no reason why banks would remain except for nationalistic reasons or assisted by government with financial aid.   

However, they could transform from holding fiat currencies for customers to holding cryptocurrency currencies. 

I also believe a strong competition from cryptocurrency could see governments going  defensive or adopting protectionism.

[goaldigger]

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?

Its more likely that a bank can adopt to cryptocurrency rather than make it obsolete. Bank is still a private company and businessman doesnt want their business to be forgotten. In this case, they should now how they fit on the growing environment of cryptocurrency.

[Sebas.tian]

They don't need to replace the one or the other, they should co-exist to cater the varying needs of the people. Some prefer to use banks and other uses the services of cryptocurrency. Each of them also has flaws and they could complement each other.

[alisafidel58]

They don't need to replace the one or the other, they should co-exist to cater the varying needs of the people. Some prefer to use banks and other uses the services of cryptocurrency. Each of them also has flaws and they could complement each other.

I dont think that they could compliment each other. Banks are businesses funded by millionaires and backed up by the government. Banks are transparent enough to pay taxes and can resolve issues if your account has been breach or somewhat.

Banks can only adapt to their system of crypto currency so that when moving money it wont be a hassle to their clients, even if its cross banking.

[tarable]

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?

Its more likely that a bank can adopt to cryptocurrency rather than make it obsolete. Bank is still a private company and businessman doesnt want their business to be forgotten. In this case, they should now how they fit on the growing environment of cryptocurrency.

therefore in a long time the bank will definitely continue to ban crypto in countries because the bank is definitely a year if the paper currency will not be used again in the presence of an easy digital currency to use transactions

[creeps]

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?

They must definitely adjust the trading system and optimize the benefits for customers. sooner or later, banks must also need blockchain technology to upgrade their trading systems.
crypto is still incomparable to banks because its structure is quite complicated and it is a big barrier for many people who do not understand much about technology.

Again, banks will never disappear especially right now that many banks now are supporting cryptocurrency and they’ve already adopt blockchain technology. With a help of the top altcoin XRP, i think its more possible to gain the attention of banks. If there’s more bank adopts blockchain, i think the trust of the public will back to them.

[Ranly123]

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 remain in power since they are the foundation of the monetary system in a country. Crypto exist not to replace banks but to make people have other option on to where they can invest their money other than banks.

[poldanmig]

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 bank is lost I think it's something that is impossible in my opinion maybe in the future the bank will use or adopt the crypto currency as its economic system

[haidil]

for this problem it might depend on what the future will be, for now the bank is still in power. but now many banks are working with cryptocurrencies

[Irvinn]

Well, I see no reason why banks would remain except for nationalistic reasons or assisted by government with financial aid.   

However, they could transform from holding fiat currencies for customers to holding cryptocurrency currencies. 

I also believe a strong competition from cryptocurrency could see governments going  defensive or adopting protectionism.

Banks will not disappear anywhere and will continue to exist in the future. Cryptocurrency is not yet a significant competition for banks and is unlikely to represent it. Banks perform many other useful functions, including fully servicing the financing and lending to the state economy. Therefore, any state will protect the interests of state banks. Banks and cryptocurrency should continue to coexist and complement each other.

[TheUltraElite]

therefore in a long time the bank will definitely continue to ban crypto in countries because the bank is definitely a year if the paper currency will not be used again in the presence of an easy digital currency to use transactions

Such things would never happen. Bitcoin was created to serve the similar purpose. There are banks that look down upon it but also want to join the fray. Dont think that people call something bad just because they want to save your from its wrath. They also know the potential in bitcoin and they want you to sell so they can grab it at a lower price while you sold at below buying price at a loss. Thats called manipulation and its rampant in every speculative market where people dont have basic understanding of they assets they hold or any fundamental analysis at hand.

This can only be prevented if you remain neutral in your mindset and not think about what others are saying but stock up at low prices and sell at high prices. Rinse and repeat.

[Dessy88]

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?

in my opinion the bank will not be lost because the crypto market or crypto currency may be banks will adopt a system that is used crypto currency because crypto currency uses the advancement of time and technology for its work

[Darker45]

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?

I am certain banks will have to adopt to the current crypto sentiment. That is the only way for them to be able to remain relevant in the coming years. They have waged battles against crypto and are still on it until today but we can easily notice how they are also adapting at the same time. That is their safest option as they are well aware of how widely accepted crypto has grown. It is now common to read in the news how banks are already accepting cryptocurrencies, established partnership with crypto companies, even installing crypto ATMs, and so on. This is definitely a winning factor for crypto.

[tadpole_bitfrog]

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?

I think they will soon disappear and cooperate with blockchain companies. Banks are under so much pressure from inflation and crypto can solve that difficult problem.
I think that banking businesses will gradually transform into a place to store electronic money and blockchain technology will be the main tool in money transfer.

[iv4n]

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?

I think they will soon disappear and cooperate with blockchain companies. Banks are under so much pressure from inflation and crypto can solve that difficult problem.
I think that banking businesses will gradually transform into a place to store electronic money and blockchain technology will be the main tool in money transfer.

That cooperation will be interesting. I think they will need to create a different approach, like JP Morgan that announced creating of stable coin. They will be interesting to follow and probably many big banks will follow their example, learn from their mistakes. What will they do is their thing, but never forget that we have a voice now, we can choose to use their stable coins or to believe in bitcoin or some other coin. Economy is in transition and transitions are hard for some people, many fail and many break trough. It`s interesting to live in this times and witness all that, some of us actively participate.