Banks against the crypto

[cizatext]

It depends on the angle one subject it to because the bank still remains the central financial system of government of countries and at that the bank have the support of the government and the cryptocurrency brought about freedom.

[annango]

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.

Actually comparing with the appearance of banks, cryptocurrency is indeed in its young stage. Although these days the number of people pay attention in crypto is going to much more crowded, the number of people who uses banks is much dominance in many place of the world. Because fake news, bad rumor or that sort of thing about crypto are spread continually which makes many people not have faith in crypto at all. I don’t think that cryptocurrency can lead the disappearance of banks cause its common role in life. However, crypto is possibly dominant in the future.

[mrdeposit]

It depends on the angle one subject it to because the bank still remains the central financial system of government of countries and at that the bank have the support of the government and the cryptocurrency brought about freedom.

If governments decide to keep the clean the economy from robbery bankers then main political figures will check the availability of another dilemma. Crypto banking projects are popping up every day and these projects will beat one day the small bankers and domino effect will happen sooner or later, even without the help of the greedy politicians.

[Finestream]

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.

Right.Banks will never lost its value even if mass adoption for crypto will happen.I think cryptos also are not created to compete with banks.Instead,they are here just to offer another option for people to give more convenience in making money transactions and even making their funds more safe and secured through keeping in their own crypto wallets.

[vixcious]

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 have to fight a lot with this. But I think the best way is that they will accept blockchain technology and change their entire trading system as soon as possible.
Because when the old bank opposes the blockchain, new banks will grow and there are many incentives in transferring money. Old banks will also die if they don't know how to take advantage of new technology.

[Incodium Coin]

Banks may be more prudent now, but back in 2017/2018, many banks were heavily invested in crypto. They cashed out at the height when the government began putting in place measures to regulate crypto. Blockchain technology will serve even banks.

[nur rochid]

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 have to fight a lot with this. But I think the best way is that they will accept blockchain technology and change their entire trading system as soon as possible.
Because when the old bank opposes the blockchain, new banks will grow and there are many incentives in transferring money. Old banks will also die if they don't know how to take advantage of new technology.

the first point that must be implemented is the legalization of the government, so that banks can carry out their performance using the blockchain according to the laws of the government.

[Botnake]

Banks may be more prudent now, but back in 2017/2018, many banks were heavily invested in crypto. They cashed out at the height when the government began putting in place measures to regulate crypto. Blockchain technology will serve even banks.

Such as, be more precise and give us an example on what banks are investing with crypto that time.
There are a lot of banks in the world, therefore they are big in numbers so saying many is would mean they it will pour money in crypto and I don't see an institution such as bank will just invest with crypto when they are also guided by the banking law.

[tetyulfania]

What have to care about bank against with crypto, more than last three years our local exchange market have support by bank and never have bank want to stop it, you have trust bank never against crypto forever.

[BennyK]

The issue between the banks and crypto is not a new thing. This is largely due to the fact that the banks are centralized whereas crypto is decentralized. The governments are in full support with the bank system because it gets to control the  affairs of the banks. However, crypto bypasses this by giving the users full authority over their own transactions.
Anyway, there are projects like the HubrisOne which is working towards the merging of cryptocurrency services and banks into a single platform. The app is already on the market.

[KennyR]

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?

Im betting it is not possible to eliminate banks. Crypto having a hard time gaining legal side and the Government keeps on denying the existence of crypto as a good instrument in the finance industry. Maybe some huge name will disagree even we fight for pure decentralization.

Chances are slim to achieve this but Im still hoping this could be implemented since blockchain works out well compared to bank.

Agreed, it is impossible to eliminate the usage of banks. These are the primary financial service renders who play a big role in the economic structure of any country. Over the past few years banks have been experiencing a big loss due to the increasing adoption of cryptocurrency. Banks against the cryptocurrency is happening fearing it might take the place of banks which is truly impossible in the short or in the later years.

[dat.ho12492]

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 have to fight a lot with this. But I think the best way is that they will accept blockchain technology and change their entire trading system as soon as possible.
Because when the old bank opposes the blockchain, new banks will grow and there are many incentives in transferring money. Old banks will also die if they don't know how to take advantage of new technology.

Why do banks need to fight crypto while crypto does not pose too great a threat to them, I don't even see any opposition from banks to crypto as you say, what i see is that the bank receives a ban from the government and does not allow participation in crypto, that's all. And except for that, I no longer see anything else, the bank is not too interested in crypto because they know that people will still choose them, instead of crypto, they are reputable and safe, crypto is just a new character, it is still not competitive enough in the banking market

[jademaxsuy]

For now bank is more establish than crypto. But, there is no way we could compare the two system for it has huge difference from centralized (banks) and the decentralized (crypto) systems has brought conflict when mixed together. However, there is no absolute centralized and decentralized system that work out so far for it should be balance.

So, instead of comparing what better system to be used I suggest for the betterment is to used both crypto.and bank system. Look for a way to solve conflict between changing transition of both systems though I think it is somehow on the wat or achieve already like converting fiat to crypto and vice versa.

[fabiorem]

Bankers speak against bitcoin, but they secretly buy it.

Fact is, bitcoin will not replace the banks. Most people dont want to have responsibility over their own money. People lose passwords very easily, some still get viruses in their computers. Normies dont need too much knowledge to operate a computer or a smartphone, so they do shit very easily. They will prefer to trust the banker to hold their money, even if its a digital one.

Banks will probably adopt bitcoin, and release related products to the public when they have enough reserves for it. The talk about decentralization only appeal to geeks and enthusiasts, the sheeple is not attracted by it. Actually, I believe the masses want more centralization and censorship, in the name of "security". Of course, the usual trader is not exactly part of the masses, and the bankers knows that, so they will eventually adopt bitcoin to back ETFs for those traders who are fearful of the crypto-market. The masses will only adopt it very late, when governments decides to use it.

But this will need another cycle to come to fruition. Bitcoin is not ready for things like ETFs and specialized banks, much less to be used by the normies. In fact, these instruments would, right now, hurt its development.

[bitbunnny]

To my opinion banks are not against Bitcoin or at least this is some kind of propaganda because they are like protecting their interests and interest of financial institutions in general. But they are well aware that cryptocurrencies are reality that can't be avoided anymore and that they have to adapt and accept that sooner or later. Moreover I think they already have business plan to offer Bitcoin connected services to their clients.

[karanggatak]

I think the bank will always be there. because it is a financial institution that functions as a place to collect money and also channel money as a loan fund. the community needs banks as providers of money loans. we cannot expect this savings and loan process to be cryptocurrency because its value is volatile. and I think cryptocurrency and banks can run together or maybe in the future the bank will adopt cryptocurrency.

[okala]

The cryptocurrency has a very long way to go because even if cryptocurrency becomes the mainstream their will still some high level of intimidation from the financial institutions due to the fact that the bank are always afraid of cryptocurrency taken it place in the financial processing network because very soon the banks will be insolent and will be replaced with cryptocurrency.

[Ziskinberg]

The cryptocurrency has a very long way to go because even if cryptocurrency becomes the mainstream their will still some high level of intimidation from the financial institutions due to the fact that the bank are always afraid of cryptocurrency taken it place in the financial processing network because very soon the banks will be insolent and will be replaced with cryptocurrency.

I don't think they will be replace by crypto, with the way that is moving now, it seems like the government want crypto to be centralized.
There regulation made us adopt on the law, and we cannot live without following the law, otherwise, we will pay for our violation.

The system will remain decentralized but we cannot be anonymous here.

[ajaymukund]

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 will certainly have to adjust their power and will have to share half of the profits for crypto businesses.
crypto businesses cannot manipulate all banks because their systems are difficult to understand and that will not cause sympathy for customers and they will be afraid of being scammed.
So I think the combination of banking and blockchain is a perfect combination than ever.

[CoinEraser]

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?

At the beginning I also thought crypto could deprive banks of their power, but that will probably not happen. One reason is the people who use crypto and hope that banks will soon manage their crypto holdings, the other is the banks themselves. Banks have so much power and fiat money that you can strongly influence the crypto market. They will also begin to use crypto themselves and integrate it into their business and as soon as people start to store their cryptocurrencys there, banks again have full control over the coins and thus the power.