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

[Sled]

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

I can't make such a conclusion as banks remain important to the community. We have to admit also that not all are crypto users, not all are adopting crypto and these banks give them away to secure their money. Maybe this will happen if we are not using fiat money anymore but, we still have and this still exists many years from now.
That even you see that the world is becoming strange, that seems far and not the only reason for such changes and put an end to banks services.

[AndySt]

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 ?

I don't think that banks are going to die in the next few years. It's been 20 years since 2001 and many bad things happened, but so did it in the time before. Maybe there were less terror attacks before 2001, but there were other bad things like wars too. I don't really understand how banks are being the problem here. Without banks all the things would have happened as well. Saying that it's the banks fault for us losing our freedom is wrong in my opinion. Most of us already gave up their freedom by using all the social media in todays world. The big companies are getting all our personal information for free. Who knows how much of our pictures and messages are being stored on some servers.

Those are different kind of freedoms, the right of privacy has been basically given away for free by the majority of the population simply by the promise they could get their own 15 minutes of fame, and people are happy with that.
Banks are responsible of taking a great deal of our economic freedoms away, for example the things we can do with our cash are more and more limited and it is obvious they want to introduce all kind of similar regulations to bitcoin, I think they will fail but that does not mean I think banks will disappear in such a short amount of time either.

If you really blame someone for all the problems that modern humanity is mired in, then certainly not the banks. I am absolutely sure that banks are happy to abandon all the restrictions imposed on their daily activities by the state as a regulator. Another question, I am not sure that you, as bank customers, would agree to such a lack of responsibility, which would turn into complete irresponsibility in dealing with money capital. Banks are only one of the players in the economic activity of society, which are focused on working with money. But they are not the ones who write the rules and monitor their compliance, but completely different organizations are engaged in this. Therefore, with all the claims to the activities of banks, including mine, it should be recognized that banks are firmly integrated into the economic processes of the state and it will not be possible to remove them from there without catastrophic consequences for the economy, including with the help of cryptocurrencies.

[KennyR]

Banks won't die. Banks are the financial platform that makes the governments function around the world. There are some things that can't be performed through banks with ease. For the same people look for an alternate. As an alternate cryptocurrency takes the role. This makes bitcoin and other cryptocurrencies coexist with banks than elimination of bank services.

[Pejoh Asu]

indeed there is a possibility that it will come true, but I still think the Bank will not die while the government is not there either,
because the State has an icon, namely the Bank, and the Bank will always print money, whether it will regulate or not.
so I think the Bank will always keep running, and will always be by our side, it's just that its function will be different

Actually the function of the central bank is to fully control the money in circulation and of course this is for the common good, it is true that banks will not die because of full guarantees from the state and I think banks and crypto can complement each other so that we get greater benefits from both.

[South Park]

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

I can't make such a conclusion as banks remain important to the community. We have to admit also that not all are crypto users, not all are adopting crypto and these banks give them away to secure their money. Maybe this will happen if we are not using fiat money anymore but, we still have and this still exists many years from now.
That even you see that the world is becoming strange, that seems far and not the only reason for such changes and put an end to banks services.

As much as I love the concept of bitcoin that allow us to have true ownership of the money in our wallets and be our own banks we must recognize the fact the majority of the population is not only not ready for this kind of freedom, for the responsibility of keeping their money safe and have no safety net in place they happen to lose their coins, it is incredibly common for people to forget their login credentials and in most cases they can easily recover the password through other means, but if someone were to lose their seed words or password of their wallet then they are on their own, so I think this fact alone will allow banks to survive for a long time.

[alpamar99]

Why do some people always think that crypto will replace banks?
I understand your reasons for crypto and indeed crypto can be said to be the savior of almost everyone including me who has been here since a few years ago, and its development is very rapid and will continue to grow in the future.
but to replace the bank? I think things like this are funny.
even though there are a lot of doubts about banks and switching to crypto does not mean the bank will be defeated.
they are already strong in every way, including in regulation and full government support.
we can't forget that. even though crypto continues to grow, banks have government power behind them which is indeed an untouchable position.

[Sithara007]

There is no logic in these arguments. Already some of the banks are working with cryptocurrency. Even if cryptocurrency completely replace fiat (which is extremely unlikely), there is a chance that the banks would still exist. They would simply integrate crypto in to their platform. Look at the case with PayPal. A few years ago, we were debating on a similar topic. Would PayPal become extinct, if cryptocurrency becomes popular. And see what happened after that. PayPal just integrated BTC to their system and it is turning out to be mutually beneficial for both the sides.

[Vaculin]

There is no logic in these arguments. Already some of the banks are working with cryptocurrency. Even if cryptocurrency completely replace fiat (which is extremely unlikely), there is a chance that the banks would still exist. They would simply integrate crypto in to their platform. Look at the case with PayPal. A few years ago, we were debating on a similar topic. Would PayPal become extinct, if cryptocurrency becomes popular. And see what happened after that. PayPal just integrated BTC to their system and it is turning out to be mutually beneficial for both the sides.

That will be more likely the future of crypto and banks too. If you insist to believe that crypto will definitely replace banks in the near future and make them extinct, maybe you are living in a false hope. That will never happen because the government itself will never allow it to happen that a decentralized currency will take over fiat and banks.

However, i'm very open that banks and crypto will both have a future together because its possible that crypto transaction will be integrated into banks and other centralized financial institutions. Both will exist so that people can benefit the services from crypto and banks.

[Dewi Aries]

I never get asked like that, maybe because money that come from crypto to me is not really much. But i agree with some people in here if Bank is not a simple thing to take over. Government usually more support at them and maybe if people in crypto force to replace bank with crypto, i think more regulation which can give bad affect will come and honestly i am not want it to happen, so i will stay to be with crypto as my assets.

[ChiBitCTy]

There is absolutely no chance that traditional banks will run out of business within 5-10 years.  If anything, they will all simply start to adopt cryptocurrency and make it a part of their business.  You mention they ask too many questions, but the fact of the matter is so do most cryptocurrency exchanges and other things such as cryptocurrency ATMs.  Banks aren't going anywhere anytime soon.

[Cling18]

It would be too impossible for now because we all know that the government relies on banks. Lots of people also trust banks more than other currencies or modes of payment because it's traditional and tested. However, I believe that cryptocurrency and banks could collaborate in the future. It only needs more time and adoption.

[tygeade]

That will be more likely the future of crypto and banks too. If you insist to believe that crypto will definitely replace banks in the near future and make them extinct, maybe you are living in a false hope. That will never happen because the government itself will never allow it to happen that a decentralized currency will take over fiat and banks.

However, i'm very open that banks and crypto will both have a future together because its possible that crypto transaction will be integrated into banks and other centralized financial institutions. Both will exist so that people can benefit the services from crypto and banks.

It is definitely true that Banks will not be destroyed by crypto at all, it is definitely impossible for Banks to get destroyed by something like that. Maybe if we all go against banks all together and stop using them that would shut them down but I do not see a financial system that stops them all at the same time.

I believe that there is a good chance that Banks are the future exchanges, binance and coinbase and all that will be gone in the future, or even if not gone then they will be acquired. With that type of power they are capable of just checking how exchanges are making insane amount of profit and they will build their own exchanges working inside their bank. So, while getting your money into your bank account, with the same account you will be able to hold some crypto as well. It is not really that much of a big deal, it can be done easily.

[judaspriest]

It would be too impossible for now because we all know that the government relies on banks. Lots of people also trust banks more than other currencies or modes of payment because it's traditional and tested. However, I believe that cryptocurrency and banks could collaborate in the future. It only needs more time and adoption.

It's true that if we talk about the current conditions, it looks like the Bank will still exist and maybe it will forever exist.
indeed at this time crypto is already known by many people but I don't think Banks will be replaced,
I'm sure the collaboration between crypto and Banks will happen although we don't know when for sure

[molsewid]

It would be too impossible for now because we all know that the government relies on banks. Lots of people also trust banks more than other currencies or modes of payment because it's traditional and tested. However, I believe that cryptocurrency and banks could collaborate in the future. It only needs more time and adoption.

Actually I am thinking this way too as this kind of thread were already discussed here in forum for many times, maybe not exactly as this thread but somehow the sense are likely the same , and I always thought that it is impossible to replace the existence of fiat central banks in a certain country or estate to cryptocurrency. For me, cryptocurrency was so volatile that the government couldn't have control over the volatility and this could be a a total kind of risk but I do look for a possibility of fiat banks and cryptocurrency collaboration instead.

[BuNga_cute]

It would be too impossible for now because we all know that the government relies on banks. Lots of people also trust banks more than other currencies or modes of payment because it's traditional and tested. However, I believe that cryptocurrency and banks could collaborate in the future. It only needs more time and adoption.

It's true that if we talk about the current conditions, it looks like the Bank will still exist and maybe it will forever exist.
indeed at this time crypto is already known by many people but I don't think Banks will be replaced,
I'm sure the collaboration between crypto and Banks will happen although we don't know when for sure

Don't be too sure that banks will die and be replaced by crypto, it seems that this is impossible. Banks will always exist because the government's
way of controlling the people's finances is through banks. After all, the majority of countries in the world still prohibit crypto as a means of payment,
meaning that crypto is indeed restricted by the government. Moreover, there are still many people who live in areas where there is no internet
connection, therefore banks are still very much needed. So I agree with you, it is likely that Banks and crypto will co-exist and complement each other.
Even in my neighborhood there are still a lot of people who don't know crypto, so like I said it's impossible for crypto to replace banks.

[michellee]

It would be too impossible for now because we all know that the government relies on banks. Lots of people also trust banks more than other currencies or modes of payment because it's traditional and tested. However, I believe that cryptocurrency and banks could collaborate in the future. It only needs more time and adoption.

Actually I am thinking this way too as this kind of thread were already discussed here in forum for many times, maybe not exactly as this thread but somehow the sense are likely the same , and I always thought that it is impossible to replace the existence of fiat central banks in a certain country or estate to cryptocurrency. For me, cryptocurrency was so volatile that the government couldn't have control over the volatility and this could be a a total kind of risk but I do look for a possibility of fiat banks and cryptocurrency collaboration instead.

Most people will still use the banks, which will help the banks exist among us, although crypto will also grow in the future. I will prefer to see cryptocurrency and banks collaborate and help people in the finances section and the investment section to give them a new option to save their money in the crypto form. With the volatility of crypto, it is impossible to replace the banks and besides that, the level of trust from people to their banks is still higher compared to crypto, and it is hard to replace banks with crypto.

[Quantum907]

Crypto users are increasing and many countries are afraid to get banned crypto, but this cannot prevent the development of crypto because it is anonymous, of course this will have an impact that banks will soon go bankrupt so they will soon die.

[Kodok Bencot]

I think banks will continue to survive even though the use of crypto is increasingly massive, this is because banks will be fully protected by the state, for example if there are banks that will go bankrupt, the state immediately disburses funds so that the banks do not collapse, I think the two are different instruments and need each other, we can't leave the bank because withdrawing to fiat of course requires a bank.

[Silberman]

Why do some people always think that crypto will replace banks?
I understand your reasons for crypto and indeed crypto can be said to be the savior of almost everyone including me who has been here since a few years ago, and its development is very rapid and will continue to grow in the future.
but to replace the bank? I think things like this are funny.
even though there are a lot of doubts about banks and switching to crypto does not mean the bank will be defeated.
they are already strong in every way, including in regulation and full government support.
we can't forget that. even though crypto continues to grow, banks have government power behind them which is indeed an untouchable position.

Some people are just that idealistic, they do not understand that banks will simply adapt to the new reality and still thrive under those new conditions, in an ideal world people will adopt bitcoin and be responsible with their money to the point banks are not needed anymore, but banks exist precisely because people are irresponsible with their money and they do all kind of crazy things with it, and as long as that is the case then banks are going to keep existing.

[ven7net]

As for the banks, they are likely to remain, but not all, and those that remain will simply work with new money and on new conditions. What is happening in the world now can be called in one word - change, but in which direction this change will be seen further. But the fact that banks are now introducing a number of restrictions is only because they are also going through not very good times and they are also bad. But people are worse off, that's why the system is changing now. We just have to adapt and continue our activities further.