Banks will die crypto will take over in 5-10 years

[Silberman]

Banks will die crypto will take over in 5-10 years

Why ? They are starting to ask to many personal questions and monitoring people like they are criminals / terrorists etc ...even if they are not ...
Govs want to much control on people...the world is becoming very strange and it all started with 9/11 attacks ...  to many coincidences

To many things happened in 2 decades :
Terrorists attacks / Wars on Terror / Arab spring  / SARS / Climate Change / Covid / Global trade problems  and so on ...

Before 2001 life was normal ...does how are older remember ... now they are not even hidding it / no longer in the shadows what they are trying to do ...

Is it just to take peoples freedom for the "greater good" ?  Will people allow their freedom to be taken ?

Your arguments are in fact accurate, the young people do not know but before those attacks we enjoyed a lot more freedom than what we have now so it is regretful we have reached the current conditions we are experimenting, with that being said I still do not think that is going to be enough for banks to disappear, the majority of the people are incapable of taking good financial decisions or to take care of their money and as such they will always be dependent on the banks and other financial institutions.

[Ozero]

The emergence of cryptocurrency and even its spread around the world cannot in any way affect the disappearance of current banks. The banking system is part of the state system of government. Banks help the state and its government to regulate the economy. Therefore, as long as states exist, they will protect their banks from any encroachment on them. Even if banks did not have such protection, they would still exist. The demand for banking services will never disappear. At the same time, banks have learned to adapt to changing conditions, especially when it comes to increasing their profits.

[maju69]

It's horrifying to hear that the bank is going to die in such a short time. Whether that happens or not, what is certain is that there are still ways that banks can maintain their existence in various ways and ask for reinforcement from the government. Because the role of banks and governments in running the financial system, when it is said to be dead, is cryptocurrency a suitable escape? So where are the people who don't use crypto? will they feel the economic collapse? obviously that would be a big question.

[el kaka22]

Why cannot anyone realize the business model of banks? How does a bank money? They get money from you, put it in a savings account, give you 1% for it and then loan it at 2% (numbers vary from nation to nation). So that means we could literally turn that into crypto as well right? Look at exchanges, do you really think that the huge banks all over the world can't turn themselves into exchanges? Hell I am pretty sure banks could acquire all of Binance as a whole, they are that rich. HSBC could ring up CZ tomorrow, offer them 500 billion dollars, and then take over.

Same goes for Coinbase, I do not know who owns majority of it, but it is on the stock market and banks probably took most of the stocks available as well. All of this means that the moment banks can't make a profit with fiat, they will already be doing fine with crypto anyway.

[hyudien]

As many have argued that banks will always adapt, evolve to the conditions and circumstances of the world economy. For example, from the year the Bank was born, the system has made many adjustments to date. Starting from manual transactions, then to digital transactions between cities and extending between countries in just one confirmation.

So, as long as the government system requires finances that meet economic stability supported by state finances, during that time banks will continue to adjust to the situation. Even by giving up on crypto, the financial system runs centrally under the control of the government. It may not be seen at this time, but in 5 to 10 years nothing is impossible. Finances must continue to run, the government needs income to manage the state order.

[Kasabus]

It's horrifying to hear that the bank is going to die in such a short time. Whether that happens or not, what is certain is that there are still ways that banks can maintain their existence in various ways and ask for reinforcement from the government. Because the role of banks and governments in running the financial system, when it is said to be dead, is cryptocurrency a suitable escape? So where are the people who don't use crypto? will they feel the economic collapse? obviously that would be a big question.

For crypto enthusiasts, they will really wish for crypto to replace banks in the near future. But how about for those who are used in the presence of banks? This will really give them a headache.  So this is the reason why government cannot allow crypto to replace banks because it will only cause more horrible experiences. As long as government still backed banks, it will never stop from existing. Maybe in the future, we can see banks integrating crypto transactions so they can cater too for those who find more convenience in crypto.

[Rruchi man]

5-10 years is really short duration for this your prediction. However, I completely understand your school of thought and i'd rather say the that the banking systems will evolve rather than completely disappear. Things are changing quickly and in 5-10years time if we are still alive, we will have witnessed massive changes, improvements and development in all systems, the banking industry will not be left out.

[llooafer]

Banks will not disappear. Banks represent the government. The government may launch its own country's digital currency, but cryptocurrency cannot replace banks. Many people still don't believe in cryptocurrencies. They believe in banks and store their money in the bank, even if they cannot make additional profits.

[Wong Gendheng]

Banks will not disappear. Banks represent the government. The government may launch its own country's digital currency, but cryptocurrency cannot replace banks. Many people still don't believe in cryptocurrencies. They believe in banks and store their money in the bank, even if they cannot make additional profits.

exactly, banks certainly have a different function than cryptocurrencies, even though the use of cryptocurrencies is increasingly massive but I also believe that banks will continue to be protected by the state because the dependence of the public and businesses on banks is very high, for example lending.

[Oasisman]

Banks will die crypto will take over in 5-10 years

Why ? They are starting to ask to many personal questions and monitoring people like they are criminals / terrorists etc ...even if they are not ...
Govs want to much control on people...the world is becoming very strange and it all started with 9/11 attacks ...  to many coincidences

To many things happened in 2 decades :
Terrorists attacks / Wars on Terror / Arab spring  / SARS / Climate Change / Covid / Global trade problems  and so on ...

Before 2001 life was normal ...does how are older remember ... now they are not even hidding it / no longer in the shadows what they are trying to do ...

Is it just to take peoples freedom for the "greater good" ?  Will people allow their freedom to be taken ?

Good luck to that kind of perception.
Banks has been like than since. Personal information are always gonna be the main concern when you're opening a bank account. It's not that it's something new.
Whether you like it or not, banks are always here to stay.
Infact, banks are slowly adapting to cryptocurrency. So, what made you think banks will disappear in the future?

If you think banks are asking too much personal information, then wait until majority of the crypto exchange and trading platform is regulated.

[karanggatak]

time flow, era will follow no matter what.
in many past year, we dont know about crypto, but now we said that the opponent will be destroy. actually, the obstacle know how to stand, how to survive. they always stand above or below the subject.
in my place, bank never ask about that one, but they will ask 'what do you do for living', just for formality.

[topbitcoin]

Really doubt if bank can die easily, because we can see people behind them can do anything they want. Crypto already created in years, and i think as long we still can use it, is already good for us. Don't need to disrupt fiat which already be used for really long time, because will need more adaption, more process, more resources to change main payment of the world.

[Semar Mesem]

I haven't heard that crypto can dominate transactions in the country even though it has been legalized like El Salvador, of course I don't want to see changes that are too fast because changes that are too fast will cause a lot of losses such as unemployment because banks are closed, let everything pass slowly so it's easier to adapt .

[Reid]

Social media really opened the eyes of the people. Then, the usage of internet is now in its maturity form.
We don't rely on gossips anymore, we can gain information by clicks or types away from our keyboards with a computer connected to the internet.
They can tell lies using words in newspaper or just attack the editor to write a different thing but now the people want videos for proofs if something is not right.
To gain access with anything sure does help but its also scary in a way. Banks will stay, an industry that holds money for people who cannot use crypto is still in a high percentage.

[mitchr4]

I haven't heard that crypto can dominate transactions in the country even though it has been legalized like El Salvador, of course I don't want to see changes that are too fast because changes that are too fast will cause a lot of losses such as unemployment because banks are closed, let everything pass slowly so it's easier to adapt .

Banks will still exist. People are familiar with banking system. Banks have benefits that crypto doesn't have. Cryptocurrencies are too risky to replace banks because of their anonymous use and can lead to financial crimes as well.
El Salvador not yet have an official currency and still uses the US dollar. That is why they accept Bitcoin as their transaction. But in fact people in El Salvador still struggle to use Bitcoin as their main transaction many people don't know how Bitcoin works and protest about the adoption of Bitcoin because potentially increase financial crime and fluctuating prices.

[Ngewex Yuk]

I think it took us more than 20 years to take over from banks, especially in developing countries internet usage is still low so there are still many people on earth who have not heard of cryptocurrencies, besides that it takes time for parliament to make laws and the process of transitioning the financial system of course takes time. long time.

[Gozie51]

I haven't heard that crypto can dominate transactions in the country even though it has been legalized like El Salvador, of course I don't want to see changes that are too fast because changes that are too fast will cause a lot of losses such as unemployment because banks are closed, let everything pass slowly so it's easier to adapt .

Banks and cryptocurrency  may exist with each other and not that cryptocurrency will close down banks because there are mode of operation that banks do as it works with government and government has a duty to control of the citizen so for the mention of this fact, the government will keep fighting cryptocurrency for its traditional leadership role. And now most government are creating a digital aspect of theur currency which is a way of remaining in the affairs of digital economy.

[cryptomaniac_xxx]

I think it took us more than 20 years to take over from banks, especially in developing countries internet usage is still low so there are still many people on earth who have not heard of cryptocurrencies, besides that it takes time for parliament to make laws and the process of transitioning the financial system of course takes time. long time.

Maybe crypto will take some customers out of the banking system and shift to crypto to hold their assets and wealth. But that will be a big risk for people who are not technically inclined, so it will be a big challenge for them.

But for those who doesn't want to be their own bank, then they will have to choose the banking institutions. So I doubt that it will even take 20 years for them to disappear because they are not. They will remain even if crypto will be recognized by many countries around the world.

[Taskford]

Banks will die crypto will take over in 5-10 years

Why ? They are starting to ask to many personal questions and monitoring people like they are criminals / terrorists etc ...even if they are not ...
Govs want to much control on people...the world is becoming very strange and it all started with 9/11 attacks ...  to many coincidences

To many things happened in 2 decades :
Terrorists attacks / Wars on Terror / Arab spring  / SARS / Climate Change / Covid / Global trade problems  and so on ...

Before 2001 life was normal ...does how are older remember ... now they are not even hidding it / no longer in the shadows what they are trying to do ...

Is it just to take peoples freedom for the "greater good" ?  Will people allow their freedom to be taken ?

For sure those things what in your mind will not happen since for sure government is just making an audit to see if this is safe to be used by their citizens since knowing that bitcoin is been tag as currency used by criminals, but even if those things came first before this good things happening on this coin still we don't see any of them completely ban its usage to their respective country. And there's no freedom taken on this since anyone could use bitcoin after all.

[maydna]

I do not think banks will die in 5-10 years later as the banks are one product from the government. The government does not want to see their product will die and will do many things they can to still exist among the people. Maybe the government will modify the system and who knows, the government will try to integrate the system with the blockchain so the banks can evolve into the blockchain.

If the government allows people to use crypto and make sure the banks still exist, people will have the freedom to manage their finances and not just depend on the banks.