Banks against the crypto

[rchstr]

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?

For me banks cannot be dissolve as it will be the way how the government can manipulate the world market.

We know that in a certain country their would be unity if their is government as it will lead how the country will move forward.

Banks can adopt certain part of blockchain technology but it cannot be decentralized. Bitcoin is just an alternative for bank who serves for the unbanked people.

[zhekinsp]

People didn't use the decentralized payment system yet,they see bitcoin as opportunity for money making and they will exit the market once made profits so where we need bansk so cryptos definitely can't destroy the banks by this way.

[LUCKMCFLY]

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?

This is a topic that everyone always wants to be right, both banks and those who defend technologies, in this case I think that both ways of managing money should always coexist.

Fiat money is necessary, because many transactions must be that way, and the most fundamental part of progress gives the way open to bitcoin and blockchain technology.

The tenology of Blockchain and Bitcoin offer new ways to pay for goods and services, it is a totally free, decentralized economy and you can achieve your financial freedom quickly, besides the transactions are very secure and secure, they represent more confidence when it comes to making transfers which are very large and that all banks always put problems to make them, through bitcoin, they are made and they are very fast, without problems and without danger that the money is lost, besides that to steal through the bitcoin portfolios has been almost impossible because to hack there is no technology to do it.

FIAT thefts in money if it is much easier and very feasible for many, there is less security and it must be in cash. I believe that this is why both are necessary, because in case of a munificent failure of electric power or internet service, simply the bitcoin and the technology is canceled.

[jak3]

Banks are always against Cryptocurrency and cryptocurrencies always have high potential to make banks disappear but still, there is no reason for that to happen. Someone or something being better does not mean the other lower thing should be disappeared from existence. bitcoin and other cryptocurrencies have value because they can be exchanged with faint currency if there is no faint, then crypto's will be at high risk.

[Chacha1000]

Its reall been a long time now that  banks have been against Cryptocurrency and cryptocurrencies always have high potential to make banks disappear out of the world.

[Apes]

why do have to eliminate the Bank. isn't there a better way than to eliminate it. the best way for cryptocurrencies to succeed is to collaborate with the Bank. inside the bank there are still many people working in it who cannot be replaced by machines or AI in making decisions.
Banks are financial legalities recognized by the state and companies, there are still many aspects that are owned by the Bank that cannot be replaced by cryptocurrencies.

[Activitycoin]

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 sure that the banks will not disappear. Most likely, they will change and will use the blockchain. This will be the centralized version and I dont like it.

I am for decentralization. I hope, in the fight against crypto against banks, the victory will be for crypto.

Surely the victory will be with crypto currency because crypto currency has more value as compare to banks now, people want limitless earning and they are not happy with this centralized system of the banks crypto currency is on its growth but banks lose value now because of its old system which is being use since decades and crypto currency is the invention of this modern age.

[Seeker#9]

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 are always part of country's economy so they are not going disappear unless they will be replaced by more effective and efficient means of finance. When a country's banking sectoris healthy, it will greatly contribute to the growth of nation's economy. Bank can upgrade itself to match the modern technology and the threat of cryptocurrencies. In fact, some of the banks are already planning to use blockchain in the future.

[viralmetaphore]

It's for better that the banks get their hands out of the crypto space. Yet. We cannot prevent them to adquire knowledge about the space. but Crypto came here to empower the individual. Banks do not want that. Banks only want to control people. They do by lending "Your" money. Which in fact it's never yours.

While banking had been always a good way for the economic to fluctuate around the world. Yet it does not. by misleading peoplee. It's time for the knowledge it's why cryptocurrencies here

In fact. These morons. Withour the poor system of priting money, or typing it digital on your account they rich as they do.

https://twitter.com/coincenter/status/1126574631605997569

I'm wondering what this guy above is smoking, lmao

[BennyK]

Banks are against crypto because they see crypto as a major disruptive agent to their existence. Banks are centralized and intends to gain total control and power over the financial transactions of the people whereas crypto do the contrary by given back the power to the people to own control over their own transactions.

[Abiky]

Not necessarily. Banks will still be the medium to convert fiat into crypto vice versa; they both can be used by the society as they have both purpose, pros and cons. Also, we can't compare the situation of snailmail being replaced by email as banks aren't replaceable

Good point. Because of crypto's inability to become an independent medium of exchange, we'll always have the need to interact with Fiat somehow. Banks are known to be the gateway from crypto land into the Fiat world. Without them, one cannot exchange cryptocurrencies into Fiat as there's no central issuer. On the other hand, one cannot live without crypto as it provides freedom to our financial life.

As such, everything in the world needs balance. There cannot be a single thing for any purpose in life. Which means, that diversity is needed for our world to change for the better. Banks and crypto will turn their separate ways for the foreseeable future. But they cannot destroy each other in any way.

The main reason Banks have been against crypto is because they don't want people to gain control of their financial life. Banks' living is based off fees from its customers, and if that's gone, their business will end for sure. While Banks are against crypto most of the times, they're not against Blockchain technology which powers most (if not all) cryptocurrencies known today.

Banks have seen Blockchain as extremely beneficial to them, that they have started exploring the technology more thoroughly. Before you know it, a new age will come where Fiat will no longer exist physically, but it will live on a Blockchain of its own. All in all, both ends (Banks and crypto) will survive for a long time. Just my thoughts

[bonker]

Banks are against crypto because they see crypto as a major disruptive agent to their existence. Banks are centralized and intends to gain total control and power over the financial transactions of the people whereas crypto do the contrary by given back the power to the people to own control over their own transactions.

If crypto payments were adopted all over the world then the service from the banks will no longer needed so they are not going to support the cryptos existence and also governments won't like it because banks are the one making economy of a government if there are no banks then that country might suffer for the funds.

[dat.ho12492]

Banks are against crypto because they see crypto as a major disruptive agent to their existence. Banks are centralized and intends to gain total control and power over the financial transactions of the people whereas crypto do the contrary by given back the power to the people to own control over their own transactions.

If crypto payments were adopted all over the world then the service from the banks will no longer needed so they are not going to support the cryptos existence and also governments won't like it because banks are the one making economy of a government if there are no banks then that country might suffer for the funds.

I don't think banking services are no longer needed when crypto is accepted and popular, I believe it is still necessary, even more popular because everyone's goal with crypto is to invest, they don't use it to store, the bank is where they will send money when they want to store. Especially if banks offer additional services on crypto, it is truly a reliable thing, so I believe that the bank will become more popular, rather than under the influence of crypto, against crypto is just speculation of people, the bank does not clearly confirm it

[Irvinn]

If transactions in cryptocurrencies are finally approved it would not really get banks out of the word but it would rather reduce their activities as most people would use cryptocurrencies to make transactions.

In fact, the banking system is part of the state, so there is nothing for banks to fear. They will even exist if they do not use blockchein technology. However, banks themselves are striving to improve their performance and replace their outdated SWIFT method with blockchein technology to improve the speed and reliability of their transactions in order to increase their profits.

[Best Dreams]

Banks are against crypto because they see crypto as a major disruptive agent to their existence. Banks are centralized and intends to gain total control and power over the financial transactions of the people whereas crypto do the contrary by given back the power to the people to own control over their own transactions.

If crypto payments were adopted all over the world then the service from the banks will no longer needed so they are not going to support the cryptos existence and also governments won't like it because banks are the one making economy of a government if there are no banks then that country might suffer for the funds.

Crypto currency as payment is being use since long it is acceptable people are now investing more crypto currency more than banks because keeping your money in banks are just useless because the more you keep it just get rusted, but investing in crypto currency gives profit and with this your money increases, it makes profit and makes our life better with facilities.

[fauzan Ichsan]

Banks are against crypto because they see crypto as a major disruptive agent to their existence. Banks are centralized and intends to gain total control and power over the financial transactions of the people whereas crypto do the contrary by given back the power to the people to own control over their own transactions.

If crypto payments were adopted all over the world then the service from the banks will no longer needed so they are not going to support the cryptos existence and also governments won't like it because banks are the one making economy of a government if there are no banks then that country might suffer for the funds.

Crypto currency as payment is being use since long it is acceptable people are now investing more crypto currency more than banks because keeping your money in banks are just useless because the more you keep it just get rusted, but investing in crypto currency gives profit and with this your money increases, it makes profit and makes our life better with facilities.

especially by using a cryptocurrency wallet, we feel we don't need a bank, because we have our own asset storage, but what is clear to me is that the government still does not agree with the decentralization system, and as if the bank is being cornered

[Abiky]

In fact, the banking system is part of the state, so there is nothing for banks to fear. They will even exist if they do not use blockchein technology. However, banks themselves are striving to improve their performance and replace their outdated SWIFT method with blockchein technology to improve the speed and reliability of their transactions in order to increase their profits.

One thing for sure is that Banks are always one step ahead of everything in the world of finance. They may be against crypto itself, but they're not against the underlying technology called the Blockchain. Given how beneficial Blockchain is to reduce costs and improve efficiency, Banks and governments have been studying this trend more thoroughly. We've seen how most Banks have partnered with Ripple in order to improve the payments industry.

It should only be a matter of time before Banks obtain all the benefits inherent within most cryptocurrencies we know and love today (except decentralization, of course). Even if they don't upgrade their system towards the Blockchain, they'll survive for a long time because governments are backing them (not to mention that people still trust these financial institutions).

Nonetheless, as crypto becomes more valuable and prominent in the mainstream world, Banks will envy their progress. Despite these facts, Blockchain technology will be a part of our lives in nearly everything we do within the future. Just my thoughts

[Tylev]

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 any case, the banks due to the appearance of cryptocurrency will not disappear anywhere. They will work in their normal mode and will not experience any discomfort due to cryptocurrency. Yes, they will use the ripple blockchain network technology to increase the efficiency of their work, and will also provide some services in the cryptocurrency, if it benefits them. Why it can lead to their disappearance? There will always be a demand for their usual services. In addition, they will always serve the majority of enterprises and provide financial services to the economy of each state, which will always protect the interests of banks.

[DarkIT]

well, so much controversy about this. however, banks will always be more advanced than crytpo. for now, crypto is indeed the latest competitor in financial matters. only, the needs of the people for the bank are very large, so crypto may be difficult to beat the bank in financial matters.

[Ayiranorea]

well, so much controversy about this. however, banks will always be more advanced than crytpo. for now, crypto is indeed the latest competitor in financial matters. only, the needs of the people for the bank are very large, so crypto may be difficult to beat the bank in financial matters.

Right now the usage of banks were very big, this is not due to the technology that has made things possible. What we find with banks is fulfillment of people's need. As things get advanced people expect much more from the banking services which at times looks like an impossible thing. Now the same is being found successful through bitcoin and the technology that drives it forward. This makes banks have a opposition against bitcoin. More banks have begun to use the technology of bitcoin which makes the banking services function same as cryptocurrencies.