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?

[1714714393]

1714714393

[1714714393]

1714714393

[1714714393]

1714714393

[1714714393]

1714714393

[1714714393]

1714714393

[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.