Banks are collapsing. Will Bitcoin and other cryptocurrencies rise from here??

[FireDAO CY]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

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[o48o]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

Trusting a bank and trusting Fiat money are 2 very different things. And this isn't leading to more decentralized world. It leads to more regulations, falling banks is what happens when populists like Donald Trump rolli back the wall street reform and consumer protection act. Just out of spite because he wanted to cancel everything Obama did.

And why not just decentralized world? Because that's far from ready. Decentralized world doesn't have build in IDs, confidential transactions or ZK smart contracts that are ready to get adopted. The whole platform is still being developed. And buying a coin/native token because you think that's going to be a next platform is a gamble. Most of the top marketcap coins have dropped out from the list.

[posi]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

It is also a topic that has been discussed a lot in the market in recent days, but so far, there has been no significant change. But I think the collapse of banks in succession is not a positive signal, it will make the world economy more complex, and we will be affected. I don't expect that to happen or spread. Even if people switch to bitcoin, we will still need a bank, the bank is a bridge for us to exchange bitcoin and fiat easily. We will still need the bank in many situations.

[hd49728]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

Domino effects in bank system just started but FED will not stop because they must keep increase interest rate to fulfill their responsibility. If they halt it in the middle, a last few months will not lead to final result they want.

It is time for Bitcoin to shine but it's not a time for cryptocurrency to shine in general. Cryptocurrency means Bitcoin plus altcoins. Altcoins are scam and they are not different than fiat currencies or banks. I don't believe in altcoins after a few years in the market. Very few altcoins I can put my belief in them and for most of altcoins, I only consider them as chances for me to enjoy their short bull runs or bounces and exit.

After many years in cryptocurrency, I no longer mind to hold altcoins and consider them as good for my portfolio.

[DeathAngel]

There is a tidal wave of defaults coming. This is all the result of years of money mismanagement by banks & governments. Inflation is out of control, the money printer was relentless during COVID. They literally shut down the worlds economy for 2 years. They must have known something like this would happen? Maybe it’s what tgey wanted, The Great Reset & introduction of CBDC’s. You will own nothing & you will be happy etc.

Bitcoin & other cryptos may dump with legacy markets when the shit hits the fan soon but long term bitcoin especially, with it’s deflationary supply by design will have meteoric rises in price. People will flood out of fiat & into bitcoin. It might look messy at first but bitcoin will moon as the world sinks into a great depression.

[DevFile90]

The depression stage is just about to get set, with banks going bankrupt because of mismanagement of funds, I. Believe that crypto will still take one last huge correction before new money start coming into crypto again, I have stopped buying anything right now even though I still have good altcoins I plan to accumulate before the market gets bullish.

[Apocollapse]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

Where do you read this? do you live in Switzerland (Credit Suisse) or United States (Silicon Valley Bank) so you know people are tend to switch their money to Bitcoin? If you're just make an assumption if bank collapsed will make them to choose Bitcoin, you're wrong because banks in United States and Switzerland is really a lot, not only the collapsed one.

There's will be no change, except the whole banks are collapsed and make people lose their trust with banks.

[someone703]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

I also had some preparations before the end of 2022, I was very much looking forward to the price falling even lower. But anyway, I have bought into crypto before and just took profit on some altcoins to buy more BTC for the long term.
I don't think it will be too different, when BTC price runs, leading L1 platforms are pushed, and then there are dozens of mixed trends.

[FireDAO CY]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

It is also a topic that has been discussed a lot in the market in recent days, but so far, there has been no significant change. But I think the collapse of banks in succession is not a positive signal, it will make the world economy more complex, and we will be affected. I don't expect that to happen or spread. Even if people switch to bitcoin, we will still need a bank, the bank is a bridge for us to exchange bitcoin and fiat easily. We will still need the bank in many situations.

I think it's good to work both way. I believe it's impossible to be 100% decentralized, but at least now we have extra option.

The depression stage is just about to get set, with banks going bankrupt because of mismanagement of funds, I. Believe that crypto will still take one last huge correction before new money start coming into crypto again, I have stopped buying anything right now even though I still have good altcoins I plan to accumulate before the market gets bullish.

Bank system that already existed for centuries and it collapsed in front of the world is definitely very concerning. Crypto definitely will gain advantage from here and we can see more people are considering crypto now.

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

Where do you read this? do you live in Switzerland (Credit Suisse) or United States (Silicon Valley Bank) so you know people are tend to switch their money to Bitcoin? If you're just make an assumption if bank collapsed will make them to choose Bitcoin, you're wrong because banks in United States and Switzerland is really a lot, not only the collapsed one.

There's will be no change, except the whole banks are collapsed and make people lose their trust with banks.

I did read alot of comments about what I mentioned but it doesn't mean everyone of them are doing that. Such a huge bank collapsed definitely will gain concern and people will rethink again is the system still perfect to keep our money in it? I'm here to seek for more deeper discussion, but ya, thanks for your comment anyway.

[goaldigger]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

As of the moment the banking industry are still in shock, we might see some good effect for Bitcoin in short term but many are also suffering because of this. There's a panic around the world and the fear of experiencing the same faith with their local banks, many countries are also limiting their banking transactions. We might finally see Bitcoin to be appreciated since many realized that even a biggest bank will collapse in just a week. There's no assurance about the future of the Banks but I think they will rise again for now, we should be more careful and continue to monitor your bank, so you can act right away.

[kryptocanon]

Bank is centralized while bitcoin on the other part is decentralized. I don't think there is an actual sense in having money kept in a centralized institute. Well,  excuse my English, they may work hand-in-hand but I'm confident in the theory that the more people get to know about Bitcoin, the more adoption increases. Already, we see Colorado becoming the first state in the USA that accepts bitcoin as payment for taxes. That's another sample that the trust they have got banks is someway, somehow fading away.

[pgbit]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

Yes ! You are right The collapse of banks like Credit Suisse and Silicon Valley Bank, along with the rise of Bitcoin, may suggest that some individuals are losing trust in traditional banking systems and exploring decentralized financial technologies. The motivations for using Bitcoin can vary, including greater control over financial transactions, investment opportunities, or simply hype. However, it's premature to predict whether decentralized technologies will fully replace traditional banking. Banks remain crucial for economic activity and financial services such as loans and investments.

[FireDAO CY]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

As of the moment the banking industry are still in shock, we might see some good effect for Bitcoin in short term but many are also suffering because of this. There's a panic around the world and the fear of experiencing the same faith with their local banks, many countries are also limiting their banking transactions. We might finally see Bitcoin to be appreciated since many realized that even a biggest bank will collapse in just a week. There's no assurance about the future of the Banks but I think they will rise again for now, we should be more careful and continue to monitor your bank, so you can act right away.

It's good just keep it both way at the moment. It's impossible to keep the bank away and only focus on crypto currency as crypto still very volatile. There's still alot to do but definitely it's keeping more people interested in decentralized world.

Bank is centralized while bitcoin on the other part is decentralized. I don't think there is an actual sense in having money kept in a centralized institute. Well,  excuse my English, they may work hand-in-hand but I'm confident in the theory that the more people get to know about Bitcoin, the more adoption increases. Already, we see Colorado becoming the first state in the USA that accepts bitcoin as payment for taxes. That's another sample that the trust they have got banks is someway, somehow fading away.

Step has to be taken. It's definitely a historical movement but we need time to monitor and improve as well to be in the better position.

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

Yes ! You are right The collapse of banks like Credit Suisse and Silicon Valley Bank, along with the rise of Bitcoin, may suggest that some individuals are losing trust in traditional banking systems and exploring decentralized financial technologies. The motivations for using Bitcoin can vary, including greater control over financial transactions, investment opportunities, or simply hype. However, it's premature to predict whether decentralized technologies will fully replace traditional banking. Banks remain crucial for economic activity and financial services such as loans and investments.

People are just being very sentimental to the traditional banking system as for now but it's all depend on how the government takes the action. But all the tokens are hyping now, but is it the bull is back?? How long can it last?

[WillyAp]

a few banks don't make a collaps
It takes way more. There are thousands of banks worldwide and only a few hundred are involved in their mutal destruction scheme called futures, dept papers, derivates and such. Most from the 1rst world, so 3rd world Banks are stilkl hung up in the 18.th century.

[Jackl87]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

I was actually surprised that the crypto market is doing so well at the moment, despite the fact that the traditional stock markets was going down at the same time. I know that cryptocurrencies as a whole were created as an alternative to the traditional financial institutes and as a replacement for banks, but still in the past when there was a stock market crash the crypto market crashed too. Now i feel like it is the first time, that the crypto market is going into the opposite direction than the stock market. I just hope that this is not just a temporary thing and that the prices will stay that way at least for a while.We will see.

[sheenshane]

It's good just keep it both way at the moment. It's impossible to keep the bank away and only focus on crypto currency as crypto still very volatile. There's still alot to do but definitely it's keeping more people interested in decentralized world.

It should be this, the answer to your question itself.

Both have their respective advantages and disadvantages, and it's up to individual users to determine which approach best suits their needs.
IMO, there should be no war/arguments between them or even a comparison between them.  People embrace Bitcoin and the technology behind it because they want to have full control of their money and how the decentralized system works but it doesn't mean crypto will replace traditional banks, they might see the potential benefits and are not necessarily threatened by the rise of Bitcoin.

[Yatsan]

I doubt.  In the first place there are many banks around existing. The fact that Bitcoin is not yet accepted across many countries, is already making this assumption sketchy. Bitcoin and other cryptocurrencies are still lacking consistency and acknowledgement from government sectors. Banks are simply under government institutions so more likely, the replacement should be as well having the same characteristic in order to promote consistency with the 'system'. Also it would be a risky move to do by local governments.

a few banks don't make a collaps
It takes way more. There are thousands of banks worldwide and only a few hundred are involved in their mutal destruction scheme called futures, dept papers, derivates and such. Most from the 1rst world, so 3rd world Banks are stilkl hung up in the 18.th century.

But it is true and many banking institutions are struggling at this point yielding to collapse on their industry. Developments in this technology is indeed potent enough and promising but for sure there are underlying  factors why this concern is not yet fully resolved.

[Anonylz]

Government are still in control of the economy and I so doubt they will fold hands and watch their instrument of destruction collapse without bothering to save it. How will they control the world if they allow banks to die and crypto a decentralized space to take over.  They expect that to happen.

[DeathAngel]

Well with financial turmoil in some traditional banks, bitcoin & crypto in general seems to be reacting very well.
The Fed look set to continue with money printing so this will no doubt have a positive impact on the bitcoin price.

Bitcoin is doing very well recently, let’s hope it continues. Alts will follow as usual, I just hope this isn’t a massive bear market rally & there’s a huge sell off if a recession is confirmed by the US.

[BIT-BENDER]

Not only banks, even stablecoins like USDC is also crashing and many people are getting affected, the financial system is becoming very unsafe and thinking you have backing in crypto-currency then you are wrong.

Am not saying Crypto-currency doesn’t have any utilities that puts it ahead of the banking system, I am saying that there is no system of finance where you should drop your guard down.

[vv181]

FDIC protect Silicon Valley Bank and Swiss central bank funds Credit Suisse, although it hasn't helped much, rumour says Credit Suisse are still in the process to be acquired. Can't say much it certainly going to collapse noting how much power is being made to keep it stays afloat.

The sentiment toward the banking system is lowering while on the other hand, bitcoin gains its momentum. Though, it doesn't necessarily mean or indicate that most people switch their money or funds to bitcoin. It is just the market sentiment that switching up, I doubt people inherently aware of the core values of the decentralized system, so a mere sign that you stated are not enough to conclude people are moving to cryptocurrencies.

[Luffygroove]

People's faith in traditional financial institutions may be eroded as a result of the failure of banks such as Credit Suisse and Silicon Valley Bank. Nonetheless, it is impossible to draw a clear link between these events and the trend toward decentralization. Bitcoin and other cryptocurrencies provide a distinct financial system based on decentralization and transparency, which may appeal to certain people who have lost trust in traditional banks. However, it is important to note that cryptocurrency usage is still tiny in comparison to traditional banking, and there are still challenges to overcome before they can become a generally recognized alternative.

[LogitechMouse]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

Partly yes.

I mean like in crypto where investor's trust is affected towards a project when something bad happens, it's the same with the banks that some people no longer trust them because of what happened. Banks are known to be against crypto so the fall of some banks for some investors is a positive sign for them thus, they will invest more. At least it's what the sentiments of the investors, and we are already seeing Bitcoin pumped up at the time these banks fell down.

Currently at $27,400, if the fall of more banks continues, we might see Bitcoin continue to go up as well. On the other hand, there will still be people who will trust banks no matter what happened to them. They will just withdraw their money, and then find a larger bank for them to keep their money there.

[WillyAp]

Bitcoin and other cryptocurrencies provide a distinct financial system based on decentralization and transparency, which may appeal to certain people who have lost trust in traditional banks.

Bitcoin and Litecoin are more or less the only ones which do not have a CEO.
So much for transparancy.

[DapanasFruit]

The collapse of the banks mentioned above has been a big eye-opener to many to never trust banks 100% in the same way that we should never be trusting any new projects/platforms asking for money from us here in the world of cryptocurrency. Why? Because we are all humans capable of making small and big mistakes along the way...as to banks they never foresaw the rise of interest which left the government bonds they invested with lose their value. Human mistakes and greed are all a part of any industry we can be and yes this all include the cryptocurrency market with all of its scams, frauds and hacking. Now, having said that, we could never be sure if the surge right now in Bitcoin and alts can be the signal of its big rise towards the bull run...who knows if things are already settled in banking if crypto will also go back to where it was.

[adaseb]

The issue is that many of these banks didn’t hedge or sell their underwater bonds at a loss. And since the fed hiked at such as fast pace, they got deeper and deeper in the whole.

I think when word got out on how the tech sector was going to dry up, they should of started to raise funds then. However all it took was a handful of clients to withdraw at once and all of a sudden they get into this huge mess.

[Marti Panadero]

The recent collapse of banks like Credit Suisse and Silicon Valley Bank may be a contributing factor to the increasing popularity of Bitcoin. People may be losing trust in traditional banks and turning towards decentralized options like Bitcoin.

However, it is important to note that the collapse of a few banks does not necessarily indicate a widespread trend towards decentralization.

It is important to consider other factors, such as the volatility of Bitcoin and the overall stability of the financial system, before drawing any conclusions.

[ichsan ardi]

yes, judging from the bankruptcy cases of several banks, people choose to transfer their assets to cryptocurrency and indirectly they no longer trust banks and this is a good step for cryptocurrency to make people believe in cryptocurrency more.
What do you think?

[Bay_Harbour_Butcher]

Yes, of course, because of the Silicon Valley Bank incident and the bankrupt bank signature, people's trust in banks has decreased, especially in several big countries, and most of them have switched to crypto, in fact the crypto market is experiencing a bull market

[DOH!]

Any bullish push comes from the way bitcoin is representing. The collapse of banks is just one of the valid reasons to make this dynamic more realistic. The perception of trust and decentralization is getting more and more positive, which is how bitcoin makes a difference. It is no coincidence that bitcoin was born after the collapse of Lehman Brothers (USA) in 2008... bitcoin will continue to represent and exist in the human psyche, a tremendous change.

[Pelana vreo]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

I don't know for sure, but in the last few days $2 billion USD worth of coins have been minted, you can see it on the whale alert twitter account.

But I think it has nothing to do with banks going bankrupt, because as far as I know, banks go bankrupt due to low liquidity and some consumers withdraw the money they have in the bank.

[Abiky]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

People are starting to lose confidence in the banking system, as they switch to decentralized cryptocurrencies that can't be debased. While crypto assets increased in price because of the collapse of major banks in the US, not everyone is in the game yet. There are a lot of people who're still skeptical about crypto/Blockchain tech. At least, it's a good start. The more banks fail, the more people will "flock" into decentralized cryptocurrencies.

Governments don't want to lose control/power, so they will do anything they can to try to stop people from using to crypto over Fiat. Maybe central banks will proceed with a "global reset"? These are uncertain we're living into, so expect the unexpected. Maybe crypto will beat Fiat in the future? Just my thoughts

[yazher]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

Inflation is hitting the market and it's really common to see such scenarios all around the world, some companies are holding tight nowadays just for their businesses to survive because it has not been a good thing to see such giant banks collapsing right in front of their eyes. That's why it's really important that people realize they really need to migrate to cryptocurrency in order to save their assets from collapsing as well. Their fiat would be returned to them if their banks are in deep collapse and the remedy is to invest their money into bitcoins to save it there.

[cafee_orange]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

it seems that there have been no positive signs for the bitcoin price after that incident, but we hope that there will be changes in the near future.
It is possible that they are not diverting their money in Bitcoin or other crypto but for other needs.

[Lainta]

It is not accurate to say that people are necessarily switching their money to Bitcoin as a result of recent bank collapses like Credit Suisse and Silicon Valley Bank. While cryptocurrencies like Bitcoin may offer an alternative to traditional banking, they are not a direct replacement for banks and traditional financial systems. The decision to invest in cryptocurrencies should be carefully considered and based on an individual's own financial goals and risk tolerance. While some individuals may be turning to cryptocurrencies as an alternative to traditional banking, it is unlikely to be a widespread trend at this time.

[abralzain17]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

let's hope there is new hope with the value of crypto that continues to increase. but until now no one knows whether the aftermath of the collapse of Credit Suisse and Silicon Valley banks was caused by People diverting their money to bitcoin? but until now I haven't seen any sign of it

[carrie_white]

silicon valley bank and Credit Suisse bank are quite large banks, but they can still collapsing, the reason is because most of those who invest in these banks are from startup companies, but due to the pandemic and the Ukrainian war, these startup companies have to diversify their assets so they can process them more optimally, and the result is that this actually has a good impact on cryptocurrency, because many people are even more interested in investing in crypto

[Dragonfund]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

In every system, there lies bad people, we have them in crypto both the centralized ecosystems and defi ecosystems and so do the banks, every one of them has their level of risk. The banks are the financial institutions that are collapsing this year but crypto also did last year that even some of my friends don't want to associate there self here again. The decentralized society we have today are been hack and funds are been drained by wicked people and bad teams, so we just have to be careful when it comes to investing our money and trying to make wealth.

[Mozzart]

Banks will endure as many partners have already communicated to transfer with money to cover problems, which already has an advantage for depositors. The cryptocurrency market reacted quite positively to this news. I am more worried about the fact that now there is a lot of negative information in the direction of the owner of binance, which is what you should be afraid of at the moment.

[jrrsparkles]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

I don't think so, even one percent of total amount transacted everyday is happening with cryptocurrency if my assumption is right so that much big the banking sector is, so fall of 10 big reputed banks even doesn't shake the whole sector but it can alarm everyone especially who invested on bank stocks will try to cash out if they're in profits.

On the other hand the cryptocurrency is rising gradually, no matter what force is trying to suppress its growth like governments, banks, main stream media, billionaires still the adoption of Bitcoin is happening gradually as well as rapidly in countries where they don't really trust their fiat and government anymore.

[Junii]

It is true that some people may be turning to cryptocurrencies such as Bitcoin as an alternative to traditional banking systems. Cryptocurrencies have several advantages, such as decentralization, security, and transparency, which can be appealing to those who are distrustful of traditional financial institutions. But it is  important to remember that cryptocurrencies are also highly volatile and subject to significant price fluctuations. While some people may view them as a safe haven in times of financial uncertainty, they are not without risks and should be approached with caution. While in past we see some banks are collapsed  due to  financial difficulties, but  there is no evidence to suggest that the banking industry as a whole is collapsing.

[Abiky]

It is not accurate to say that people are necessarily switching their money to Bitcoin as a result of recent bank collapses like Credit Suisse and Silicon Valley Bank. While cryptocurrencies like Bitcoin may offer an alternative to traditional banking, they are not a direct replacement for banks and traditional financial systems. The decision to invest in cryptocurrencies should be carefully considered and based on an individual's own financial goals and risk tolerance. While some individuals may be turning to cryptocurrencies as an alternative to traditional banking, it is unlikely to be a widespread trend at this time.

Exactly. Even though Bitcoin is decentralized, that doesn't mean it will replace the traditional banking system in the long run. Governments simply won't allow a currency outside of their control to take over the world. Besides, there are a lot of people that are still skeptical about Bitcoin. The volatile market prices and uncertainty surrounding the crypto industry, makes people think twice before using Bitcoin on top of Fiat.

While the banking system is beginning to collapse, that doesn't mean it's the end of the world. Governments (especially the US), will eventually bail out banks to restore confidence into the economy. As long as they control Fiat, they have the power to do whatever they want. I wouldn't be surprised if we experience a "global reset" just to pave the way for CBDCs to take over traditional Fiat. No one knows what the future holds, so we can only hope for the best. Just my opinion

[abel1337]

It is not accurate to say that people are necessarily switching their money to Bitcoin as a result of recent bank collapses like Credit Suisse and Silicon Valley Bank. While cryptocurrencies like Bitcoin may offer an alternative to traditional banking, they are not a direct replacement for banks and traditional financial systems. The decision to invest in cryptocurrencies should be carefully considered and based on an individual's own financial goals and risk tolerance. While some individuals may be turning to cryptocurrencies as an alternative to traditional banking, it is unlikely to be a widespread trend at this time.

Exactly. Even though Bitcoin is decentralized, that doesn't mean it will replace the traditional banking system in the long run. Governments simply won't allow a currency outside of their control to take over the world. Besides, there are a lot of people that are still skeptical about Bitcoin. The volatile market prices and uncertainty surrounding the crypto industry, makes people think twice before using Bitcoin on top of Fiat.

While the banking system is beginning to collapse, that doesn't mean it's the end of the world. Governments (especially the US), will eventually bail out banks to restore confidence into the economy. As long as they control Fiat, they have the power to do whatever they want. I wouldn't be surprised if we experience a "global reset" just to pave the way for CBDCs to take over traditional Fiat. No one knows what the future holds, so we can only hope for the best. Just my opinion

I agree. Government will only see the crashing banks as a resolvable problem. We have saw how US print more money to save banks, This is how they want to make bank survive. Though it is a great advantage to bitcoin as people find it as an option for banks when the time they know that their money is in danger. It is what people likes, The more options we have is the better. If banks constantly be like this, I can see that people will start switching to bitcoin and cryptocurrency to store their money for the mean time. It's just hard to predict the future but I guess the best thing we can do is to be ready incase majority of the banks fails.

[Teraboy]

It is true that some people may be turning to cryptocurrencies such as Bitcoin as an alternative to traditional banking systems. Cryptocurrencies have several advantages, such as decentralization, security, and transparency, which can be appealing to those who are distrustful of traditional financial institutions. But it is  important to remember that cryptocurrencies are also highly volatile and subject to significant price fluctuations. While some people may view them as a safe haven in times of financial uncertainty, they are not without risks and should be approached with caution. While in past we see some banks are collapsed  due to  financial difficulties, but  there is no evidence to suggest that the banking industry as a whole is collapsing.

As long as crypto can be much safer compared with the bank and that's fine. THere are stable tokens in the market that can be used as a way to store your money without even getting impact by the volatility that happens in the market.

Crypto is also much safer than bank caused you be your own bank. You are storing money in yourself by used the wallet with safe security. that's enough to keep your money securely without any problem.

[blockman]

Crypto is also much safer than bank caused you be your own bank. You are storing money in yourself by used the wallet with safe security. that's enough to keep your money securely without any problem.

In terms of being our bank, it's true and that's one of the things I like about owning crypto. We hold our own funds and they're all our responsibility. It teaches how to manage our finances and as well as be wary of security concerns that force us to learn about them. Being a responsible crypto owner, we tend to be more conscious about the market value than the security matters but little did we know, we're all being taught that we should be the one controlling our money and not the banks or any third party that charges us fees by getting back our own money.

[Rengga Jati]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

Some banks may indeed experience a collapse. It is undeniable that there are large banks in my country that also experience the same thing. And this really hurts a lot of people. But that doesn't mean banks are collapsing. The proof is that there are still many large banks that continue to survive and develop with various functions that suit current needs, support e-money, and provide effective services without having to go to the bank. But indeed, there are some disadvantages to using the bank itself.
But my point is, the banks will continue to survive anyway, especially state-owned banks, so it will be difficult for cryptocurrencies to take over or the like. Actually, trusting a bank is also like trusting exchanges, not really 100% because banks sometimes also make some faults that lose their user money, although not all of them.

[Silberman]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

Some banks may indeed experience a collapse. It is undeniable that there are large banks in my country that also experience the same thing. And this really hurts a lot of people. But that doesn't mean banks are collapsing. The proof is that there are still many large banks that continue to survive and develop with various functions that suit current needs, support e-money, and provide effective services without having to go to the bank. But indeed, there are some disadvantages to using the bank itself.
But my point is, the banks will continue to survive anyway, especially state-owned banks, so it will be difficult for cryptocurrencies to take over or the like. Actually, trusting a bank is also like trusting exchanges, not really 100% because banks sometimes also make some faults that lose their user money, although not all of them.

The people behind the banks have played really well and they have made the banking industry key to keep the current status quo, so governments regardless of whether they want or not will have to keep rescuing them despite the protests of their citizens, so banks have no incentive at all to be responsible when they can be rescued at any time and for any reason, so it is unlikely that decentralization will take over the world even if banks were to collapse.

[Teraboy]

The people behind the banks have played really well and they have made the banking industry key to keep the current status quo, so governments regardless of whether they want or not will have to keep rescuing them despite the protests of their citizens, so banks have no incentive at all to be responsible when they can be rescued at any time and for any reason, so it is unlikely that decentralization will take over the world even if banks were to collapse.

I don't even think so. All of money were coming from the centralized parties. The decentralization will not have value if there would be no money came from centralized parties. You received your payment and you withdraw it to your bank account and then cash out it to pay bell in your real life. A few bank collapse is not comparable with so many exchange sites in the crypto that goes bankrupt and scam.

[Dr.Osh]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

I think if the banks fall, not everyone will switch to bitcoin, because there are still very many people who don't know how to access bitcoin, or maybe there are also many who still don't believe in bitcoin. I think the article you read only votes for crypto users. Also, if the banks do crash, I think people will probably be inclined to go for gold, silver, or some other thing that might be really valuable and can be resold later.
However, the public's trust in banks is currently very large. I think people will still be waiting for an alternative to that, and the government is unlikely to just see this happen. they will definitely look for alternatives to remedy this situation.

[Marvell1]

It is not accurate to say that people are necessarily switching their money to Bitcoin as a result of recent bank collapses like Credit Suisse and Silicon Valley Bank. While cryptocurrencies like Bitcoin may offer an alternative to traditional banking, they are not a direct replacement for banks and traditional financial systems. The decision to invest in cryptocurrencies should be carefully considered and based on an individual's own financial goals and risk tolerance. While some individuals may be turning to cryptocurrencies as an alternative to traditional banking, it is unlikely to be a widespread trend at this time.

Exactly. Even though Bitcoin is decentralized, that doesn't mean it will replace the traditional banking system in the long run. Governments simply won't allow a currency outside of their control to take over the world. Besides, there are a lot of people that are still skeptical about Bitcoin. The volatile market prices and uncertainty surrounding the crypto industry, makes people think twice before using Bitcoin on top of Fiat.

While the banking system is beginning to collapse, that doesn't mean it's the end of the world. Governments (especially the US), will eventually bail out banks to restore confidence into the economy. As long as they control Fiat, they have the power to do whatever they want. I wouldn't be surprised if we experience a "global reset" just to pave the way for CBDCs to take over traditional Fiat. No one knows what the future holds, so we can only hope for the best. Just my opinion

I agree. Government will only see the crashing banks as a resolvable problem. We have saw how US print more money to save banks, This is how they want to make bank survive. Though it is a great advantage to bitcoin as people find it as an option for banks when the time they know that their money is in danger. It is what people likes, The more options we have is the better. If banks constantly be like this, I can see that people will start switching to bitcoin and cryptocurrency to store their money for the mean time. It's just hard to predict the future but I guess the best thing we can do is to be ready incase majority of the banks fails.

As you said, the government owns the money printing machine, so it's not too difficult to save the bank, and it's unlikely that the government will let most banks go bankrupt. That will not only cause economic hardship but will also shake their power, they will not be able to let that happen.

In my opinion, the failure of banks is not new, it happened many times in the past, but in the end, everything was solved. What's happening is the kind of purge they want to happen and re-establish a new order in the economy.

[Abiky]

The people behind the banks have played really well and they have made the banking industry key to keep the current status quo, so governments regardless of whether they want or not will have to keep rescuing them despite the protests of their citizens, so banks have no incentive at all to be responsible when they can be rescued at any time and for any reason, so it is unlikely that decentralization will take over the world even if banks were to collapse.

Banks have the power to do whatever they want. After all, they're patronized by mainstream governments. If all else fails, banks can easily hit "the reset button", to drive the economy to their own favor. It's manipulation/corruption at its finest. With Bitcoin, it's another story. There's no central authority behind it, becoming impossible to change its supply at will. It's one of the many things that makes Bitcoin better than Fiat.

I think BTC and other cryptocurrencies are set for a rally as central banks increase their balance sheets to prevent another collapse. People are starting to distrust these powerful entities, so it should only be a matter of time before crypto/Blockchain tech (especially Bitcoin) takes over the world. Who knows if early adopters like us will become extremely lucky in the future? Just my opinion

[ololajulo]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

Bitcoin's purchase as a result of failing banks is intriguing, but how much does the whole bitcoin  marketcap cost? Also, why do you think a massive purchase wouldn't have pushed the coin above its previous highs? Bank failures are widespread across all continents, and the government was unable to protect them. They are trying to get back funds from the inflated economies. I  like the timing

[CarnagexD]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

I think people are bitcoin are just being more cautious and aware of how they will take care of their assets so they seek alternatives to traditional banks. I don't think it is because they don't trust bank anymore. Many people still rely on traditional financial institutions for their banking needs because tho cryptocurrencies offer potential benefits, they also come with their own risks and challenges like volatility, lack of regulation, and susceptibility to fraud.

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

I think if the banks fall, not everyone will switch to bitcoin, because there are still very many people who don't know how to access bitcoin, or maybe there are also many who still don't believe in bitcoin. I think the article you read only votes for crypto users. Also, if the banks do crash, I think people will probably be inclined to go for gold, silver, or some other thing that might be really valuable and can be resold later.
However, the public's trust in banks is currently very large. I think people will still be waiting for an alternative to that, and the government is unlikely to just see this happen. they will definitely look for alternatives to remedy this situation.

Yeah. I don't think the government will allow crypto to widespread in financial institutions without getting involved. But they cannot prevent people from looking for alternatives especially those that started early with bitcoin. The trend towards decentralization is complex and people's trust in traditional financial institutions can be influenced by a variety of factors.

[Tony116]

The people behind the banks have played really well and they have made the banking industry key to keep the current status quo, so governments regardless of whether they want or not will have to keep rescuing them despite the protests of their citizens, so banks have no incentive at all to be responsible when they can be rescued at any time and for any reason, so it is unlikely that decentralization will take over the world even if banks were to collapse.

Banks have the power to do whatever they want. After all, they're patronized by mainstream governments. If all else fails, banks can easily hit "the reset button", to drive the economy to their own favor. It's manipulation/corruption at its finest. With Bitcoin, it's another story. There's no central authority behind it, becoming impossible to change its supply at will. It's one of the many things that makes Bitcoin better than Fiat.

I think BTC and other cryptocurrencies are set for a rally as central banks increase their balance sheets to prevent another collapse. People are starting to distrust these powerful entities, so it should only be a matter of time before crypto/Blockchain tech (especially Bitcoin) takes over the world. Who knows if early adopters like us will become extremely lucky in the future? Just my opinion

I have no doubt when you say bitcoin is better than fiat, that's absolutely true. But good does not mean it will be widely used or will replace someone. Bitcoin is good for us but not good for the government, and the government is the world's ruler. That is, it is they who decide what to use and what not to use, no matter how good it is. So I don't think bitcoin is going to take over the world.

Bank collapse is not new to our economy, it crashes but is then replaced by another, and that has happened many times in the past. That means bitcoin is unlikely to be the next candidate to replace banking.

[adzino]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

Yes, you are right. Banks are facing challenges, and it might lead to an increased interest in cryptocurrencies like Bitcoin (and it is already happening). People might be attracted to the decentralized nature of cryptocurrencies as they seek alternatives to traditional banking systems. But banks collapsing doesn't mean that people will start moving to crypto currencies, and the price will skyrocket. There are various factors that will play an important role, like regulations, economic stability, and how much people are going to trust crypto currencies (don't forget, crypto currencies aren't flawless too).  But as more people learn about the benefits of cryptocurrencies and blockchain technology, we could see a gradual increase in their adoption. It might not happen overnight, but it will happen eventually.

[Silberman]

The people behind the banks have played really well and they have made the banking industry key to keep the current status quo, so governments regardless of whether they want or not will have to keep rescuing them despite the protests of their citizens, so banks have no incentive at all to be responsible when they can be rescued at any time and for any reason, so it is unlikely that decentralization will take over the world even if banks were to collapse.

Banks have the power to do whatever they want. After all, they're patronized by mainstream governments. If all else fails, banks can easily hit "the reset button", to drive the economy to their own favor. It's manipulation/corruption at its finest. With Bitcoin, it's another story. There's no central authority behind it, becoming impossible to change its supply at will. It's one of the many things that makes Bitcoin better than Fiat.

I think BTC and other cryptocurrencies are set for a rally as central banks increase their balance sheets to prevent another collapse. People are starting to distrust these powerful entities, so it should only be a matter of time before crypto/Blockchain tech (especially Bitcoin) takes over the world. Who knows if early adopters like us will become extremely lucky in the future? Just my opinion

Without a doubt bitcoin is better than fiat, however those at the very top benefit from having such an unfair system in which they can abuse money printing and their political power to do whatever they want, and it is unlikely they are going to be persuaded to change their ways, so they see in bitcoin an enemy that must be destroyed or at least tamed so it does not become a threat to them, this is why we are seeing so many regulations against this market lately, as those powerful people are worried they have pushed the economy too much and people begin to adopt bitcoin as a way to protect themselves from their manipulation.

[I_RodimusPrime]

Collapsing few banks will not help people to invest more in crypto. Whatever happens older generation is still believe in fiat and banks. So never compare fiat and crypto as same. They are different era always. Also people who need money asap will never invest in crypto or stocks as Robert Kiyosaki said. 

[LastKiss]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

Most people will move their money to gold after that two incidents happen, Bitcoin and other cryptos will rise after Bitcoin halves also crypto is under heavy pressure because there are a few major incidents like the collapse of FTX. Remembering that incident making people afraid to invest in cryptocurrencies so we need to gain people's trust again.

[Abiky]

Without a doubt bitcoin is better than fiat, however those at the very top benefit from having such an unfair system in which they can abuse money printing and their political power to do whatever they want, and it is unlikely they are going to be persuaded to change their ways, so they see in bitcoin an enemy that must be destroyed or at least tamed so it does not become a threat to them, this is why we are seeing so many regulations against this market lately, as those powerful people are worried they have pushed the economy too much and people begin to adopt bitcoin as a way to protect themselves from their manipulation.

We know for sure banks won't give up "without a fight". They will cooperate with mainstream governments to try to bring down the crypto industry for good. Their chances of success will be low thanks to the decentralized and censorship-resistant design of crypto/Blockchain tech, but they will certainly make an impact in terms of mainstream adoption. Regulations will continue to increase until crypto becomes "weaker" against Fiat.

There's no reason to worry about this, especially when crypto was never meant to replace the traditional banking system. The recent collapse of major banks in the US and Switzerland will only become history, as they become bigger and stronger than ever. Crypto (especially Bitcoin) has come a long way since its inception, so don't expect it to disappear anytime soon. Who knows if it lives alongside Fiat for generations? Just my thoughts

[rahulzx]

I doubt.  In the first place there are many banks around existing. The fact that Bitcoin is not yet accepted across many countries, is already making this assumption sketchy. Bitcoin and other cryptocurrencies are still lacking consistency and acknowledgement from government sectors. Banks are simply under government institutions so more likely, the replacement should be as well having the same characteristic in order to promote consistency with the 'system'. Also it would be a risky move to do by local governments.

a few banks don't make a collaps
It takes way more. There are thousands of banks worldwide and only a few hundred are involved in their mutal destruction scheme called futures, dept papers, derivates and such. Most from the 1rst world, so 3rd world Banks are stilkl hung up in the 18.th century.

But it is true and many banking institutions are struggling at this point yielding to collapse on their industry. Developments in this technology is indeed potent enough and promising but for sure there are underlying  factors why this concern is not yet fully resolved.

Yatsan you raise a valid point about the struggles that traditional banking institutions are facing in light of technological advancements, such as the rise of cryptocurrencies. While it's true that these technologies have great potential, there are still many challenges and factors that need to be addressed before they can fully replace traditional banking systems.

One such challenge is the issue of regulation and government oversight. Traditional banking institutions are heavily regulated to ensure the safety and security of people's deposits, but cryptocurrencies and DeFi platforms operate in a more decentralized and unregulated manner. This lack of oversight can lead to higher risks for investors and potentially greater volatility in the market.

Another challenge is the issue of adoption and mainstream acceptance. While cryptocurrencies have gained popularity in recent years, they are still not widely accepted as a form of payment by most merchants and businesses. This can limit their usefulness and hinder their growth as a viable alternative to traditional banking systems.

So, it's important to recognize the potential of new technologies and their ability to disrupt traditional industries, but also to acknowledge the challenges and limitations that still exist. As the industry continues to evolve and mature, it will be interesting to see how these challenges are addressed and how these technologies will ultimately shape the future of finance. What would you think?

[fzkto]

Collapsing few banks will not help people to invest more in crypto. Whatever happens older generation is still believe in fiat and banks. So never compare fiat and crypto as same. They are different era always. Also people who need money asap will never invest in crypto or stocks as Robert Kiyosaki said. 

The older generation does not have much confidence in banks either. But here such people may even be in the majority, but they will not be able to decide anything. It is the people who will want to save capital from the banking crisis who decide. Such people have huge fortunes and if they see cryptocurrencies as a safe haven, it will trigger a new era for cryptocurrencies.

[WillyAp]

One such challenge is the issue of regulation and government oversight. Traditional banking institutions are heavily regulated to ensure the safety and security of people's deposits, but cryptocurrencies and DeFi platforms operate in a more decentralized and unregulated manner. This lack of oversight can lead to higher risks for investors and potentially greater volatility in the market.

Exactly a little oversight and the need to cover the deposits to an extend is needed.

[Xal0lex]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

Investing in bitcoin does not always mean that people have now moved to the side of decentralization. A great many bitcoin investors store their bitcoins in centralized services or custodial wallets. It's definitely not about decentralization, although their asset allows them to opt out of a third party. So far, centralization has very much dominated the crypto market, and that trend will only intensify over time. It would seem that over time people should learn to understand the full meaning of cryptocurrencies and bitcoin, but something is not going according to plan, and people are choosing convenience over decentralization and self-custody.

[Argoo]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

Bitcoin's purchase as a result of failing banks is intriguing, but how much does the whole bitcoin  marketcap cost? Also, why do you think a massive purchase wouldn't have pushed the coin above its previous highs? Bank failures are widespread across all continents, and the government was unable to protect them. They are trying to get back funds from the inflated economies. I  like the timing

Some of the banks periodically go bankrupt in difficult and troubled times. It was before, and it will be later. But we cannot assume that the banking system will collapse because of this. It is very powerful because it is under the auspices of the state.

As for cryptocurrencies, many believed that the negative effects of the coronavirus would lead to a sharp increase in people's interest in cryptocurrencies and it would quickly begin to grow in value. But that did not happen. The cryptocurrency market is still in decline for almost two years now. People are showing interest in cryptocurrencies, but this is not happening as quickly as we would like.

[Weawant]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

People are not moving towards the decentralized world instead they're moving to what'll profit them more because Bitcoin has a good record of giving its investors profit so that's why it's attracting investors.

The world isn't really for full decentralization yet and that's why the government are fighting the market because they can't control it. If we were moving towards a decentralized world then the metaverse won't have died.

Soon when another banks get launched, you'll see this investors going back to invest with the banks because they'll promised a more stable platform then what the other banks were and people will still believe them which is just how the world works.

[Kgdktac]

It's difficult to say definitively why individuals are choosing to move their money into Bitcoin or other cryptocurrencies. While events like the collapse of banks may contribute to people's decisions, there could be a variety of other factors at play as well.

[podluznyj]

It's difficult to say definitively why individuals are choosing to move their money into Bitcoin or other cryptocurrencies. While events like the collapse of banks may contribute to people's decisions, there could be a variety of other factors at play as well.

Now the banking system on the world market is not stable, it has become inappropriate to keep money in banks, so people began to look for an alternative to banks, so they began to invest in bitcoin as bitcoin is growing and investing in this crypto money makes hope to earn money, because people are looking for the best for life

[imamb]

In my country there are several central bank branches, many of which are closed due to the rapid increase in crypto investment. and the public bank is just a cash withdrawal of money. maybe it will continue to reduce bank branches in terms of the tv news that I see. The era of technological progress will continue to grow rapidly

[Iyeman]

It's difficult to say definitively why individuals are choosing to move their money into Bitcoin or other cryptocurrencies. While events like the collapse of banks may contribute to people's decisions, there could be a variety of other factors at play as well.

Most were just speculating and no more. The fact that if most of people are still saving their money in the bank. that being said that if the only a few people who have been choosing crypto to safe their money. I think that there's no safe place to secure our money,.

Anyplace has its own risk but crypto's risk is much bigger rather than bank. So many scammers these days.

[Baofeng]

In my country there are several central bank branches, many of which are closed due to the rapid increase in crypto investment. and the public bank is just a cash withdrawal of money. maybe it will continue to reduce bank branches in terms of the tv news that I see. The era of technological progress will continue to grow rapidly

I don't get it, banks in your country are closing because people are withdrawing their funds and putting in to crypto? If that is the case then it's a big win for crypto, however, it might have a bad effect in your country if the banking system are going to collapse, just like any other big banks right now. We don't want this to happen though, but it seems that we can't stop this from happening, and this is probably the offshoot of the current economies, it's so bad that the value of money is nothing now, the so called "mickey mouse money".

It's difficult to say definitively why individuals are choosing to move their money into Bitcoin or other cryptocurrencies. While events like the collapse of banks may contribute to people's decisions, there could be a variety of other factors at play as well.

We can only speculate why individuals are choosing BTC or other cryptocurrencies, here are few reasons that I can think off.

(1) hedge against inflation
(2) possible to make profits, let's say in the next bull run, their money can grown 10x
(3) be your own bank, you have total control of it, you can withdraw anytime, anywhere
(4) pseudo anonymity

[SquallLeonhart]

Collapsing few banks will not help people to invest more in crypto. Whatever happens older generation is still believe in fiat and banks. So never compare fiat and crypto as same. They are different era always. Also people who need money asap will never invest in crypto or stocks as Robert Kiyosaki said. 

The older generation does not have much confidence in banks either. But here such people may even be in the majority, but they will not be able to decide anything. It is the people who will want to save capital from the banking crisis who decide. Such people have huge fortunes and if they see cryptocurrencies as a safe haven, it will trigger a new era for cryptocurrencies.

They may not have too much love or respect towards banks, or even bankers, but they do not have any other option and do not favor it all that much neither. Imagine it like a hostage situation, they feel like they have no other options and forced to use banks and that's the trouble basically for all of them.

I believe that we shouldn't be worried like that ourselves because we know about bitcoin and crypto which means that we do not "need" banks. It is still easier to use them for many payments so I still use one unfortunately, but I am waiting for the day when I can use bitcoin for everything and never have to cash anything out at all and never use fiat or banks.

[Abiky]

Investing in bitcoin does not always mean that people have now moved to the side of decentralization. A great many bitcoin investors store their bitcoins in centralized services or custodial wallets. It's definitely not about decentralization, although their asset allows them to opt out of a third party. So far, centralization has very much dominated the crypto market, and that trend will only intensify over time. It would seem that over time people should learn to understand the full meaning of cryptocurrencies and bitcoin, but something is not going according to plan, and people are choosing convenience over decentralization and self-custody.

Self-custody is the only way to ensure your Bitcoins are safe from harms way. Otherwise, you could lose it all if the exchange, wallet, or service holding your coins goes bankrupt, gets hacked, or seized by the government. It would be no different than trusting banks with your money. While the failure of the current banking system may trigger some people to move their money into Bitcoin, that doesn't mean Fiat will die in the long run. Governments will keep bailing out banks for as long as it takes.

In essence, banks will become bigger and stronger than ever. And you can bet that will be the case with the launch of CBDCs. Who knows how the crypto market will fare in the future? Just my opinion

[kak uli]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

We expect that there will be growing trust from the public in Bitcoin and other crypto developments. however the effect of the collapse of Credit Suisse and Silicon Valley banks has not been seen to this day whether they take the money and put it in crypto, I have not seen any positive signs in the crypto market so far. I hope this year will be a year full of trust in crypto by all.

[Teraboy]

It's difficult to say definitively why individuals are choosing to move their money into Bitcoin or other cryptocurrencies. While events like the collapse of banks may contribute to people's decisions, there could be a variety of other factors at play as well.

There are no lots of money moving from banks to the crypto. People were always using their banks accounts as a way to withdraw their money back again. Crypto was just a machine to generate money. a bank collapse but almost all of them are still remain exist. You can compare how often the exchange sites in crypto goes bankrupt compare with bank. That's why bank has more guarantee.

[lobo13hf]

highly doubt this all these banks got bail out, you think they'd go down easily but they aren't gonna be collapsing that easily, too many things related with the bank that letting it collapse than saving it would do no good, even like that it seems cryptocurrencies still doing quite well.

[Silberman]

Collapsing few banks will not help people to invest more in crypto. Whatever happens older generation is still believe in fiat and banks. So never compare fiat and crypto as same. They are different era always. Also people who need money asap will never invest in crypto or stocks as Robert Kiyosaki said. 

The older generation does not have much confidence in banks either. But here such people may even be in the majority, but they will not be able to decide anything. It is the people who will want to save capital from the banking crisis who decide. Such people have huge fortunes and if they see cryptocurrencies as a safe haven, it will trigger a new era for cryptocurrencies.

They may not have too much love or respect towards banks, or even bankers, but they do not have any other option and do not favor it all that much neither. Imagine it like a hostage situation, they feel like they have no other options and forced to use banks and that's the trouble basically for all of them.

I believe that we shouldn't be worried like that ourselves because we know about bitcoin and crypto which means that we do not "need" banks. It is still easier to use them for many payments so I still use one unfortunately, but I am waiting for the day when I can use bitcoin for everything and never have to cash anything out at all and never use fiat or banks.

And you can be completely sure that banks are doing everything they can so that day does not come, even right now people are depending on the banks to buy bitcoin, as the majority of them are using centralized exchanges and the money on their bank accounts to obtain cryptocurrencies, however if the majority of us could bypass them and acquire almost everything we want easily and without any inconvenience by using our bitcoin directly then the monopoly of banks over the economy will be no more.

[imamb]

In my country there are several central bank branches, many of which are closed due to the rapid increase in crypto investment. and the public bank is just a cash withdrawal of money. maybe it will continue to reduce bank branches in terms of the tv news that I see. The era of technological progress will continue to grow rapidly

I don't get it, banks in your country are closing because people are withdrawing their funds and putting in to crypto? If that is the case then it's a big win for crypto, however, it might have a bad effect in your country if the banking system are going to collapse, just like any other big banks right now. We don't want this to happen though, but it seems that we can't stop this from happening, and this is probably the offshoot of the current economies, it's so bad that the value of money is nothing now, the so called "mickey mouse money".

It's difficult to say definitively why individuals are choosing to move their money into Bitcoin or other cryptocurrencies. While events like the collapse of banks may contribute to people's decisions, there could be a variety of other factors at play as well.

We can only speculate why individuals are choosing BTC or other cryptocurrencies, here are few reasons that I can think off.

(1) hedge against inflation
(2) possible to make profits, let's say in the next bull run, their money can grown 10x
(3) be your own bank, you have total control of it, you can withdraw anytime, anywhere
(4) pseudo anonymity

this is not about collapsing but reducing the number of branches in each city, because the progress of the crypto era in my city is quite fast, people know about the crypto world. most of them do airdrop side jobs and market/stock trading makes the bank less income or less active member of the bank

[fzkto]

Collapsing few banks will not help people to invest more in crypto. Whatever happens older generation is still believe in fiat and banks. So never compare fiat and crypto as same. They are different era always. Also people who need money asap will never invest in crypto or stocks as Robert Kiyosaki said. 

The older generation does not have much confidence in banks either. But here such people may even be in the majority, but they will not be able to decide anything. It is the people who will want to save capital from the banking crisis who decide. Such people have huge fortunes and if they see cryptocurrencies as a safe haven, it will trigger a new era for cryptocurrencies.

They may not have too much love or respect towards banks, or even bankers, but they do not have any other option and do not favor it all that much neither. Imagine it like a hostage situation, they feel like they have no other options and forced to use banks and that's the trouble basically for all of them.

I believe that we shouldn't be worried like that ourselves because we know about bitcoin and crypto which means that we do not "need" banks. It is still easier to use them for many payments so I still use one unfortunately, but I am waiting for the day when I can use bitcoin for everything and never have to cash anything out at all and never use fiat or banks.

And you can be completely sure that banks are doing everything they can so that day does not come, even right now people are depending on the banks to buy bitcoin, as the majority of them are using centralized exchanges and the money on their bank accounts to obtain cryptocurrencies, however if the majority of us could bypass them and acquire almost everything we want easily and without any inconvenience by using our bitcoin directly then the monopoly of banks over the economy will be no more.

I guess you could say we are really lucky that we know about cryptocurrencies and how to use them. When I travel, I just need to have my crypto wallet and smartphone with me so that I can feel comfortable in almost any country. But I still need to convert the cryptocurrency into national currency in order to do so. True, I don't have to declare at customs the amount of currency I take out of the country, which is also very convenient.

[Oneandpure]

I sure with bigger Bank have been collapse will make public trust more interested for saving their money in bitcoin than the bank, how bigger Bank in United State have been collapse and many people save their money there. Seems difficult with United State regulation about cryptocurrency give little space for their people saving money in Bitcoin than Bank have chance for collapse again later.

I think one day when all countries have linked cryptocurrency there are not have bring much money when travelling to other country, need to bring mobile phone and wallet access how to make payment at the future without any risk like the Bank when collapse. All our money controlling by our self without think will collapse later due have higher protect securing about wallet for saving Bitcoin.

[ifarted]

It could be the reason that the Crypto will rise of what most of the people choose to buy BTC which will increase the demand but if most of the people buy other crypto then it won't affect much but it is a win for crypto since people are now using crypto instead of using fiat and trust banks to keep it safe. It may also not a win if the people who withdraw their money from banks keep the cash themselves and didn't buy crypto.

[Silberman]

And you can be completely sure that banks are doing everything they can so that day does not come, even right now people are depending on the banks to buy bitcoin, as the majority of them are using centralized exchanges and the money on their bank accounts to obtain cryptocurrencies, however if the majority of us could bypass them and acquire almost everything we want easily and without any inconvenience by using our bitcoin directly then the monopoly of banks over the economy will be no more.

I guess you could say we are really lucky that we know about cryptocurrencies and how to use them. When I travel, I just need to have my crypto wallet and smartphone with me so that I can feel comfortable in almost any country. But I still need to convert the cryptocurrency into national currency in order to do so. True, I don't have to declare at customs the amount of currency I take out of the country, which is also very convenient.

And this is something governments hate, when it comes to almost any other asset you will leave a trail which will allow the government to know that you are moving your wealth from one place to another, but bitcoin allows you to move your wealth in ways which are very private, in fact if you wanted you could move your coins without leaving any psychical evidence this is the case if you memorized your seed words and then you restored your wallet once you had passed through customs.

[darewaller]

I guess you could say we are really lucky that we know about cryptocurrencies and how to use them. When I travel, I just need to have my crypto wallet and smartphone with me so that I can feel comfortable in almost any country. But I still need to convert the cryptocurrency into national currency in order to do so. True, I don't have to declare at customs the amount of currency I take out of the country, which is also very convenient.

And this is something governments hate, when it comes to almost any other asset you will leave a trail which will allow the government to know that you are moving your wealth from one place to another, but bitcoin allows you to move your wealth in ways which are very private, in fact if you wanted you could move your coins without leaving any psychical evidence this is the case if you memorized your seed words and then you restored your wallet once you had passed through customs.

Some Governments are only concern in our safety. It will help them track the criminals easily if the transactions are recorded everywhere. In Bitcoin, it still possible to see the wallet activity but there are ways to make it private. One is by using a Mixer. This is why Governments are after them and they are now shutting them one by one. Memorizing seed phrase might be possible than the former private keys which compose of so many random characters but this was not advisable as there as still instances that we can forget it.

It's always better to have a back up especially if our goal is to HODL our BTCs for a long time. You can make multiple copies and hide them in different places. That way authorities won't find any evidence that you hold a crypto just in case they investigate you.

[NicNacCoin]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

Bitcoin is moving at its own pace. Bitcoin does not move forward depending on any medium. But currently, the most corruption is happening in the banking sector all over the world. People don't consider their money safe in banks anymore. Swiss bank silicon valley bank all the banks are going bankrupt then how people will trust the bank. I myself do not believe in banks because more and more corruption is happening in the banking sector in my country Bangladesh. That's why people are now flocking to cryptocurrencies a little more. In this way, if people rush more towards cryptocurrency, then surely cryptocurrency will have an impact and its importance will increase.

[uneng]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

The collapse of banks in US have indeed its positive impact on Bitcoin price, as we can see the price has been rising since that happened, however, we must be careful when making further assumptions, because most people aren't switching their money into bitcoin. I believe the impact we see is more due to big investors speculating, instead of an organic movement from the independent society towards Bitcoin's adoption.

Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

I'm not sure about that. It's more like a signal speculators have already saturated the traditional market, so they are willing to come back to crypto universe, until they also saturate it once again, and then go back to traditional markets once more. That is the never ending cycle we have been watching to happen before our eyes.

[GelatikKembar]

it has been proven that Bitcoin has risen from $20k to $30k, of course this is a very good thing to start from the beginning of a bullish recovery,
moreover the halving is also getting closer, yes 2024 is a bullish time because the halving will occur there, hold on if you believe in Bitcoin.

[borovichok]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

Cryptocurrency is one of the top projects to invest in but with the sudden procrastinating and nailing negative thoughts on Bitcoin which is also a crucial project in the space, it have triggered FUD in individuals, they get scared of hugh losses in crypto which is totally unclear, they're kept in the dark side of cryptocurrency and that's one of the main barrier that caught up with these people. Banks and the government are the real enemies here, they do whatever it takes to ceased one's money when they persist the growth of an individual account.

[fzkto]

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

The collapse of banks in US have indeed its positive impact on Bitcoin price, as we can see the price has been rising since that happened, however, we must be careful when making further assumptions, because most people aren't switching their money into bitcoin. I believe the impact we see is more due to big investors speculating, instead of an organic movement from the independent society towards Bitcoin's adoption.

Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

I'm not sure about that. It's more like a signal speculators have already saturated the traditional market, so they are willing to come back to crypto universe, until they also saturate it once again, and then go back to traditional markets once more. That is the never ending cycle we have been watching to happen before our eyes.

The price of bitcoin started to rise before banks started going bankrupt. Although undoubtedly the bankruptcies have added to the momentum for growth. But most people still don't trust cryptocurrencies, and not many are willing to invest in crypto, even if banks are under attack. Many will be more comfortable holding cash at home. So I think as long as bank failure stories don't become more frequent, it won't have much impact on bitcoin price.

[justdimin]

Some Governments are only concern in our safety. It will help them track the criminals easily if the transactions are recorded everywhere. In Bitcoin, it still possible to see the wallet activity but there are ways to make it private. One is by using a Mixer. This is why Governments are after them and they are now shutting them one by one. Memorizing seed phrase might be possible than the former private keys which compose of so many random characters but this was not advisable as there as still instances that we can forget it.

It's always better to have a back up especially if our goal is to HODL our BTCs for a long time. You can make multiple copies and hide them in different places. That way authorities won't find any evidence that you hold a crypto just in case they investigate you.

I think it is important to realize that governments do not just track the criminals, they track you as well for tax reasons. For example, Americans have this risk where they are making a ton of trades at Coinbase and Kraken, which is all given to the government and then government asks them to pay taxes.

The weirdest thing in the USA is that they do not tell you how much you should pay in taxes, they let you decide how much you should, but if you pay less than what you should, they punish you for it, and still don't tell you how much you should. Weird system but in the end crypto is connected to that and you need to figure out a way to make a profit from crypto and then pay taxes for it in order to continue.

[daenarys_stormborn]

the fall of big banks such as credit suisse and sillicon valley bank, made people's trust to put their money in the bank drastically reduced, therefore many people put some of their money in the crypto world, we can see the positive market trend is still continuing, even bitcoin has passed $ 30K

[Jating]

the fall of big banks such as credit suisse and sillicon valley bank, made people's trust to put their money in the bank drastically reduced, therefore many people put some of their money in the crypto world, we can see the positive market trend is still continuing, even bitcoin has passed $ 30K

I wouldn't say that people trust in banks are 0 now, but majority of them thinks that its not better to put their money on the banking institutions. Maybe if everything goes back to normal, everything is stable and the economy is good.

So now what the wealthy people might be doing is withdraw their money from banks, look for assets that they can used as a hedge against inflation so that it will still preserved the value of their money. And I think the best assets for them is crypto as it might not be just a hedge, but their money is going to grow overtime. Next year we will be approaching bull run so we all know that we will get profits if we are going to put money on our favorite crypto now.

[Silberman]

the fall of big banks such as credit suisse and sillicon valley bank, made people's trust to put their money in the bank drastically reduced, therefore many people put some of their money in the crypto world, we can see the positive market trend is still continuing, even bitcoin has passed $ 30K

I wouldn't say that people trust in banks are 0 now, but majority of them thinks that its not better to put their money on the banking institutions. Maybe if everything goes back to normal, everything is stable and the economy is good.

So now what the wealthy people might be doing is withdraw their money from banks, look for assets that they can used as a hedge against inflation so that it will still preserved the value of their money. And I think the best assets for them is crypto as it might not be just a hedge, but their money is going to grow overtime. Next year we will be approaching bull run so we all know that we will get profits if we are going to put money on our favorite crypto now.

As years go by people are becoming skeptical of the people in power and the institutions they belong, and banks are not an exception to this, while the young people may not remember, those which are slightly older do remember the crisis of 2008 and how almost the whole economy was brought down because of the risky bets banks made at the time and how the governments had to save them by printing money and getting even more debt, and now we are facing a similar situation, with the difference governments cannot afford to pay for those mistakes again.

[Rasa nanas]

bank with bitcoin are two different things, bank is used for saving money and bitcoin for investment. it's impossible for someone who will save money and then suddenly buy bitcoin just because something happened with a certain bank, maybe that person will just look for another bank which he thinks is safer. please distinguish investing with saving money 

[JayTrain]

This is of course a wake-up call for many, because such large banks simply go bankrupt in a few days, trust in this disappears, and perhaps people are looking for an alternative in the form of decentralization, and this may be an even greater risk, but it seems to me justified if it is done in a balanced and  Right.

[shinratensei_]

has been series of good days after the banks are collapsing for bitcoin since the price are increasing but I guess there have nothing to do with the fact that bitcoin increase, those banks are recovering some of them get bailed out and bitcoin is also growing, it just the effect of economy recovering back to its original state after the pandemics, i'd say more and more people out there are shelling out their money for investments once more like before the pandemics, and it's now seems just getting better day by day.
I'd say, if not for the current world conflict that's going on today, we could have better things by now, but certainly these collapse also change quite many in regards of how they perceive these banks in general. I guess they might favour cryptocurrency investments right now.

[serjent05]

When traditional banking methods fail, people who are using those services will look for an alternative, it so happens that Bitcoin and other cryptocurrency offers alternative means of moving funds.   So yeah, the collapse of the banking system will trigger more adoption of cryptocurrencies.

As long as the government doesn't release a hostile stance towards cryptocurrency people will continue to flock into the cryptocurrency industry because they wanted their funds to be safe and obviously avoid losses from bank bankruptcy.  We all know that cryptocurrency especially Bitcoin have the feature that bank services have such as fund transfers on both local and global.  Aside from that Bitcoin offers cheaper transaction in terms of global transfer because it does not need to pay for intermediaries' services.

[Abiky]

And you can be completely sure that banks are doing everything they can so that day does not come, even right now people are depending on the banks to buy bitcoin, as the majority of them are using centralized exchanges and the money on their bank accounts to obtain cryptocurrencies, however if the majority of us could bypass them and acquire almost everything we want easily and without any inconvenience by using our bitcoin directly then the monopoly of banks over the economy will be no more.

Good luck with that. Banks aren't going anywhere, even if the economy is showing signs of death. Governments will eventually bail them out, putting banks at the top once again. Bitcoin and its variants will always remain an alternative to the current banking system no matter what. The world simply won't abandon centralized Fiat currencies for decentralized cryptocurrencies that's outside the scope of central banks and governments alike.

BTC may have risen a little in market price, but the vast majority of people worldwide still prefer Fiat for day-to-day payments. There's really nothing we can do about it. At least, it's better to have financial freedom with Bitcoin than having nothing. Who knows where crypto market prices will go decades into the future? Just my thoughts