Crypto to trigger a global bank run?

[radjie]

I think everyday trust toward to the money is rapidly depleted, and people will finally realised how ignorant and gullible they’re to just earn the IOU garbage fake money, do you think crypto will trigger the complete bank run? Or any other delusional store of value that we don’t know yet?

What do you think about bank run? Does this mean people will lose trust on bank because of crypto? I think this will not happen because cryptocurrency needs Fiat money to have value. So in other words, to materialize crypto we need banks to make cash out of cryptocurrency.

yes, both of them have a very important role and will always be side by side because if cryptocurrency cannot be converted to fiat then it will not have very valuable value to date

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[leonair]

Cryptocurrency is not a safe haven for investors or people that are trying to be rich, it's a digital money.

People follow others because they've seen potential growth and I see no reason to hate with that, I'm sure that you are here also because you want to learn more about cryptocurrency because it can affect your financial investment in the future.

Bitcoin wasn't made to destroy banks or other payment platforms though.

[Mila52]

The banking system exists because everything in the world is subject to commodity-money relations. The USA share in world trade dominates, although China is now actively competing with them in global markets, which is why cryptocurrency as a digital currency may well be in demand by the world banking system to remove the dominance and dictates of a single country.

[bitbunnny]

You don't necessary need banks to cash out the money from cryptocurrencies, there are some other ways.
But with saying that you adnitted in a way that we still can't live without banks or to be more precise without fiat money.
Sox banks will not disappear, they will continue to run their business. And even with or without cryptocurrencies people have in great deal lost trust in banks but they still use their services because they don't have much choice.
Cryptocurrency are not the full alternative for fiat money and banks.

[fiulpro]

Banks are the building block of the society and nothing can actually replace them , the whole System is dependent on it one way or another.
How do you think you will sell or buy cryptocurrencies online without Banks
They could be a new form of investment but they are not stable nor global..
I think they cannot take over banks

[atjiat]

Banks are the building block of the society and nothing can actually replace them , the whole System is dependent on it one way or another.
How do you think you will sell or buy cryptocurrencies online without Banks
They could be a new form of investment but they are not stable nor global..
I think they cannot take over banks

Despite everything, the cryptocurrency does not yet have the status of a legal currency throughout the world.  This process is just beginning and some countries are already starting to work with cryptocurrency or even create their own national cryptocurrency.  One way or another, the banking system in any form will cooperate with the cryptocurrency market, and also use the blockchain, which is already very often implemented by many banks.  Based on this, it is impossible to separate cryptocurrency, fiat currencies and the banking system, because they will still work in tandem, each in their own field of activity.

[Murat]

First of all, People still believe in Bank for their own purpose, I think the invention of cryptocurrency doesn't hamper the conventional banking system at all, but some people say that the banking system is facing threat for the cryptocurrency, I don't believe that at all, in this sense, I agree with you that cryptocurrency could bring a positive and healthy competition in the monetary system so it may enhance the quality and security of the existing system, nothing else, but if some people want to get involved in this cryptocurrency platform they could only for their own purpose.

[AGroose]

This has already happened. Tens of millions of people trust cryptocurrencies more than banks. And over time, this amount will increase to billions. Then we will see that banks will cease to occupy a major position in the world and they will have to coexist with cryptocurrency

[Botnake]

This has already happened. Tens of millions of people trust cryptocurrencies more than banks.

Can you back this with a valid support, I mean something that is based on studies?

And over time, this amount will increase to billions. Then we will see that banks will cease to occupy a major position in the world and they will have to coexist with cryptocurrency

I believe this is likely to happen, in the long run there will be massive adoption as crypto will not go away, in fact the government are recognizing it and they are starting to regular it, we can wait for that time and people will be using more on online transaction than using paper money.
Bank might still be here but with limited function only as their main function which is to accept deposits, process withdrawals, and fund transfers can be done with blockchain or crypto in a decentralized way.