Are people losing faith from centralized organizations?

[South Park]

i dont hate banks i like banks they protect my money:)


if you lose your crypto keys how will you rcover funds?  but with bank even i lose my online passwrods or bank card the bank will still verify who i am and will hold funds for me.

i dont mind banks and i really dont undestood this bs against centralised organisations.

Personally I don't have anything against those that like banks, if you do not feel like taking the responsibility of being your own bank and protecting your coins then that is fine with me, use banks as much as you want, however we know that many times in the past banks have failed their obligations to their clients and in many cases they had being the ones to stole the money from your bank accounts and when that happens you cannot do anything about it because they are backed by the governments and at that time you will have no right to complain.

[wiss19]

When exactly did that happen? If that was report earlier this year, then it was because of the Coronavirus. When the coronavirus started and there was about to be a lockdown, a lot of banks in my country were saying the same that there were more withdrawals than deposits, and I think people were trying to withdraw money to buy food stuffs and other things they will need, because the government said that the lockdown will be for a month, so people were rushing to banks to take their money and buy the things they will need. Around that time any day I’m going out I would see crowds in front of banks early in the morning waiting for the bank to open so they can take their money.

[taunitsed]

in general, people loose faith in centralized organizations not because of untrust but more because of outdated technologies and overregulations, which are already solved by decentralized crypto solutions. as for now i even prefer to use dex-s than cex-s

[cryptoboss2020]

Im Losing Faith sure!!
You try to do business or Something but always someone try scam You!
And If smash someones head then its you who is bad lol

I rather not deal with anyone at all so sad you cant trust

[magneto]

When I see the picture of our banks in my country's, it seems lots of people in the line to withdraw their funds. An analysis of my country says that people keeping funds on their hands instead of keeping into the bank. And it hasn't happened before where a huge amount of funds holding by population. Bank reports saying, clients are just withdrawing their money, deposits are very low by comparing with withdrawal. That's why people encountering lots of questions from the bank regarding withdrawal. Most likely due to the global pandemic, people want to keep funds on their hands.

I don't know if it is happening in your country as well. But seems people losing their faith from centralized organizations like a bank. It would happen due fair of bankruptcy or due to need money on emergency situations. On the other hand, gold and bitcoin movements saying that new investors getting in. Most probably people want to be their own bank.

What's your thought and what's the real situation of your country?

Definitely right. And this is part of the reason why I think there is a huge amount of demand for BTC and precious metals within this COVID recession.

Especially with countries that have seen these sorts of cash crunches before, the citizens understand that when all hell breaks loose, you cannot possibly rely on these centralised institutions to function normally, let alone act in their best interests.

There is a lot of unrest and tension around the world right now. This is the sort of event that will catalyse mass adoption of decentralised technologies, whether cryptos, decentralised public forums/instant messengers, etc.

[slapper]

in general, people loose faith in centralized organizations not because of untrust but more because of outdated technologies and overregulations

Not really, the majority of people still depend on the government and the centralized system. As you can see, millions of people use social media, banks, etc in order to make life easier. Soon, they give up on control their life by themselves and give that system more and more power.

[AndySt]

in general, people loose faith in centralized organizations not because of untrust but more because of outdated technologies and overregulations

Not really, the majority of people still depend on the government and the centralized system. As you can see, millions of people use social media, banks, etc in order to make life easier. Soon, they give up on control their life by themselves and give that system more and more power.

In modern conditions, it is impossible to do without a centralized system of power, and the entire centuries-old history of mankind only confirms this. The whole question is to what extent this centralization occurs, because in the last century people are trying to find the necessary balance between the interests of the state and the interests of citizens, as well as between the interests of companies and employees. And please do not deify the system of power and centralized organizations and make them an object of faith

[taunitsed]

in general, people loose faith in centralized organizations not because of untrust but more because of outdated technologies and overregulations, which are already solved by decentralized crypto solutions. as for now i even prefer to use dex-s than cex-s

agree with you, also try to work wih dexs. eventry to invest in credible dex project, but checking them carefully before it

me too) i check dex projects a lot because of scam((( and btw, i found interetsing xsigma stable coin exchange, reccomend u to check  - they have good financial model and team from ripple and amazon

[zanezane]

Not really, the majority of people still depend on the government and the centralized system. As you can see, millions of people use social media, banks, etc in order to make life easier. Soon, they give up on control their life by themselves and give that system more and more power.

This sounds pretty dystopian, I do observe this kind of situation in my country too. I think that the reason for the people submitting to the will of the system and being another cog in the clockwork is because we are conditioned to the point that we can't truly exist without spending money and depending on this archaic institutions, our education system did not teach us what we will encounter when we become adults, they created organic machines that is smart enough to do the paper work and passively submit to crony power. Hopefully, this will all change with cryptocurrency and new generation of thinkers.

[iv4n]

in general, people loose faith in centralized organizations not because of untrust but more because of outdated technologies and overregulations, which are already solved by decentralized crypto solutions. as for now i even prefer to use dex-s than cex-s

Changes are coming! I am one of those people who don't trust the system, and it is because of trust more than because outdated technologies and for sure over regulations (you said it nicely by the way). Very unpleasant workers that always ask for one more paper...
And people will realize all the benefits of decentralized apps, we just need to give more time to ongoing adoption, nothing magical will happen overnight, but as we all see crypto is bigger every year, step by step (sometimes more than one, forward & backward).

As some above saying, we depend on system... more or less in my case, and you can read about people who went full crypto! It's happening around...all depends from individual situation (place where you live, laws around), but people manage to find ways, more and more! We have a good direction I believe!

[Wipeout2097]

I am not sure they are losing confidence in bank but or maybe due to the current financial emergency. Individuals have misplaced employments whereas a few are getting half compensation so by and large, individuals will make more withdrawal than storing cash that has not been winning amid the emergency. We can conversation around individuals lining to pull back their money. I think that's moreover anticipated additionally individuals need to have free get to their cash at any time they need it which is reason why numerous lean toward to hold their cash.

[oHnK]

It seems that not everyone thinks so, I still believe in banks.  Because banking health can show health for the economy in each country.  The domino effect that a bank has is very high, if one bank collapses it might drag another bank into a crash in the country's economy.  Until now, if you look at the policies that have been taken by the central bank in my country.  I still believe my country is fine, even though the slowdown will continue until there are no restrictions on living.

[MCobian]

In my country the same thing happens, lots of people who withdraw money from banks and prefer to keep it in assets that can provide future benefits.
Especially since the internet has become a basic necessity, many people have become aware that saving money in the bank will only make  its
value continue to fall.

Therefore, assets such as cryptocurrency are the choice of many people to increase their wealth. Moreover, the price of Bitcoin which is pumped is
very high, making many people realize that investing in Bitcoin is something that must be done, especially in a pandemic like now.

[Kong Hey Pakboy]

The only thing why people are losing faith in centralized organizations because the decentralized method is a good way to have a more secured and fast transaction without authorities getting involved. Decentralization also solves trust issues because most people have their own sensitive data, money, and assets that they don't need to rely on authorities to protect them.

[Lorence.xD]

The only thing why people are losing faith in centralized organizations because the decentralized method is a good way to have a more secured and fast transaction without authorities getting involved. Decentralization also solves trust issues because most people have their own sensitive data, money, and assets that they don't need to rely on authorities to protect them.

It's deeper than that to be honest, the reason that people are starting to lose faith in their banking institutions is because most banking institutions do not want this people in the first place, there is a reason why the paper work when you want to create an account is so time-consuming, they want those patient and docile enough to passively accept their TOS. Also, some people are getting more aware of the dark side and the unseen side of banking industry which is only fueled to a greater heights by movies that portray banks and other financial institutions as evil and unforgiving which is true by the way, this in turn makes the people aware that they are getting screwed up by these bankers that only works for the commissions.

[so98nn]

If they are loosing the faith from centralised organisation then it's good for the crypto space as we know!

However, that's not completely true because many institutional organisations are now making heads up to invest into cryptocurrencies. The problem is they are also centralised, driven by real world rules and regulations so they are influenced by government, limitations etc.

And they are becoming huge part of the crypto. So if people are getting away from the centralised system then they this in turn could hamper the crypto market too. It may not be visible change today but would be mega if these institutes out grow and invest into crypto currencies.

[Botnake]

If they are loosing the faith from centralised organisation then it's good for the crypto space as we know!

However, that's not completely true because many institutional organisations are now making heads up to invest into cryptocurrencies. The problem is they are also centralised, driven by real world rules and regulations so they are influenced by government, limitations etc.

And they are becoming huge part of the crypto. So if people are getting away from the centralised system then they this in turn could hamper the crypto market too. It may not be visible change today but would be mega if these institutes out grow and invest into crypto currencies.

I can't support that decentralized system will win over the centralized one, our government itself is centralized, what would it make the world if we will all be living in a decentralized way. Decentralized is just an alternative, maybe a big alternative but the centralized system would always dominate.

Per OP's example, it's based on a cased to cased basis as not all banks are corrupt, most banks still gained the trust of the people.

Maybe for small depositors it's easy for them to withdraw the money and just hold it, but how about those companies that has huge deposits and they choose banks to ensure their deposits are safe.

[GeorgeJohn]

I don't know if it is happening in your country as well. But seems people losing their faith from centralized organizations like a bank. It would happen due fair of bankruptcy or due to need money on emergency situations. On the other hand, gold and bitcoin movements saying that new investors getting in. Most probably people want to be their own bank.

What's your thought and what's the real situation of your country?

In my country here many people has stopped depositing money in the bank since last year because of corona virus lockdown that occurred within two months interval, I can see that the trust humans have with banking system of government has been depreciated, because instead of money kept in the money yield interest after been with bank some months the money have to depreciate due to their banking charges, so putting money in back is not helpful and humans has see a means or device that will yield positively to their money which is bitcoin investment, and I believe centralising system of money banking is no longer comfortable to people.

[ivankoh]

Most probably people want to be their own bank.

What's your thought and what's the real situation of your country?

Where I was born, everyone's exposure to blockchain technology was slow.  At the same time, the transition from regulation and structure to decentralization is considered at the security and owner level.  Even covid -19 is awakened, limited, ruining the digital transition.  Some centralized money management banks are doing well, people's confidence depends on it.  At least for now.  Democracy for financial freedom is to be expected - but the inheritance they expect is the patronage of problems related to inheritance.

[oHnK]

I don't know if it is happening in your country as well. But seems people losing their faith from centralized organizations like a bank. It would happen due fair of bankruptcy or due to need money on emergency situations. On the other hand, gold and bitcoin movements saying that new investors getting in. Most probably people want to be their own bank.

What's your thought and what's the real situation of your country?

In my country here many people has stopped depositing money in the bank since last year because of corona virus lockdown that occurred within two months interval, I can see that the trust humans have with banking system of government has been depreciated, because instead of money kept in the money yield interest after been with bank some months the money have to depreciate due to their banking charges, so putting money in back is not helpful and humans has see a means or device that will yield positively to their money which is bitcoin investment, and I believe centralising system of money banking is no longer comfortable to people.

In my country, i see that people who take their money from the bank. It doesn't meant they distrust with the bank but because they need more money to fulfill their needs during pandemic. We know, because of the pandemic, Many people dont have any income to fulfill their needs, but they have to pay every expenses from their saving. Most of people in my city, doesnt interest to invest in crypto. They think that its too risky. They prefer invest their money in gold to crypto.