It's starting, the dreamed future is playing out

[DanWalker]

It doesn't matter if the core Blockchain network remains decentralized. Once big entities (governments, banks, companies, institutional investment firms, etc.) accumulate most (if not all) of the circulating supply, you'll be forced to comply with KYC. It's all part of their plan. What use would it be for BTC to be decentralized if the only way to buy/sell coins would be through a centralized exchange? DEXs will have very little liquidity, that it would be almost impossible to get ahold of BTC. Especially when all of the BTC will be in the hands of the aforementioned entities. Is this what Satoshi would've wanted for Bitcoin? I think not.

As far as I know, CEX account for 90% to 95% of the total trading volume in the industry, while DEX only hold a very small market share.
The truth is that most of us use CEX to buy and sell, very few people use DEX. I guess you are using CEX too, right?
So, as long as they do not ban the use of non custodial wallets, there is nothing to worry about. We remain our own bank

By deeply integrating BTC into the centralized, regulated financial system, banks and governments have won. I mean, Bitcoin was created as a response from banks' failures. We've steered away from BTC's original vision long ago. Is there still hope? Maybe. However, a future where the economy gets completely decentralized would be a distant dream. At least, better something than nothing.

Bitcoin was not created to overthrow or completely replace fiat and the banking system. It s just an alternative solution, so expecting bitcoin to decentralize the economy is an illusion.

[Marvelockg]

Let's talk, if everyone starts paying with crypto and buying and selling with crypto takes over, what will be the jobs of banks then? Any helpful thought on this? 

When you say everyone starts accepting cryptocurrency, it just makes it seems like it's an easy thing. No matter the extent of bitcoin adoption, there's still going to be a lot of other nations that will still make use of the fiat.

Bitcoin is not a replacement to the fiat and expecting bitcoin or any crypto to go mainstream to the point that it's being used like the way fiat is being used at the moment is almost an impossible thing that will never happen ever again. The dream future for most crypto enthusiast should be that big firms and institutions adopt bitcoin more than they have accepted it now, that's the highest we can see to be possible.

[tread93]

Let's talk, if everyone starts paying with crypto and buying and selling with crypto takes over, what will be the jobs of banks then? Any helpful thought on this? 

When you say everyone starts accepting cryptocurrency, it just makes it seems like it's an easy thing. No matter the extent of bitcoin adoption, there's still going to be a lot of other nations that will still make use of the fiat.

Bitcoin is not a replacement to the fiat and expecting bitcoin or any crypto to go mainstream to the point that it's being used like the way fiat is being used at the moment is almost an impossible thing that will never happen ever again. The dream future for most crypto enthusiast should be that big firms and institutions adopt bitcoin more than they have accepted it now, that's the highest we can see to be possible.

Well, I should think that any companies that were once on the edge about getting some on their balance sheet are probably thinking long and hard about getting some now when its down! I feel like its a great buying opportunity right now if you had 10k to throw in and get yourself a nicle little chunck of a bitcoin then hey thats not a bad bet at all. I would say that is a great entry point and I hope that companies are paying attention to the opportunity and not tantalized by all the FUD.

[Abiky]

As far as I know, CEX account for 90% to 95% of the total trading volume in the industry, while DEX only hold a very small market share.
The truth is that most of us use CEX to buy and sell, very few people use DEX. I guess you are using CEX too, right?
So, as long as they do not ban the use of non custodial wallets, there is nothing to worry about. We remain our own bank

Banning non-custodial wallets would be impossible. Especially if we're talking about an open source non-custodial wallet. Consider what happened with the Samourai wallet. It was taken down from mobile app stores and PC, only to be "resurrected" via a fork. "Kill one, many will take its place".

And yes, I do use CEXs. But I try to avoid them whenever possible. I only use CEXs every now and then to sell some crypto for Fiat. It hard to do this via a P2P trading platform or DEX due to their low liquidity, though. Platforms such as Bisq and Robosats are rising in popularity, so this might change in the future. Despite "Wall Street's" increasing involvement in Bitcoin, the cryptocurrency has managed to retain its decentralized and censorship-resistant nature. Let's hope it stays that way forever.

[Cleanslate_]

The banks will also join in the transactions of cryptocurrency and the use of fiat will continue since that is the traditional currency, the banks will have to manage the situation of relating both fiat and cryptocurrency together so that they will not be losing out, because they can derive revenue from cryptocurrency since the world cannot do without it now because even if you ban it or refuse to adopt crypto in your country, the citizens will always find their ways of accessing it since it is a digital currency that has to do with technology, therefore working together with fiat and cryptocurrency is the best because cryptocurrency mainly bitcoin bring a lot of benefits to a countries economy.

[Peanutswar]

Let's talk, if everyone starts paying with crypto and buying and selling with crypto takes over, what will be the jobs of banks then? Any helpful thought on this?

Will this help Fiat in anyway? Will people not see need to still use Fiat? Will banks start having less customers?

Currently here in my country they are accepting a crypto debit payment which is still treated as a debit card and good thing is they dont have a convert fee its a 1:1 ratio of the payment amount currently used once with the crypto.com visa card, but as of now with the use of the QR payment through wallet is havent experience it yet.
Banks will still be right there because its people still prefered their fiat currencies, not all people are aware with the latest technology such a bitcoin or crypto and the cons here is volatile so they keep preffered the use of the fiat or their local currencies, so basically they cant replace this but now most of the banks here in our local adapted the use of the crypto investment feature.

[Maliceprime]

Bitcoin blockchain cannot process millions of transactions per second,  it will be difficult to use it globally for everyday payments. It is true that Bitcoin adoption is increasing, but many use Bitcoin off-chain, either through centralized services or decentralized bridges, and none of these are real Bitcoin.

cryptocurrency payments percentage by merchants that that already accept crypto is approximately 26%.

Among merchants that already accept crypto, these payments represent 26% of total sales, showing that customers are able and willing to pay with crypto when the option is available.

It's good that you used crypto and not Bitcoin,  are you saying that crypto can't process millions of transactions at once? I mean all of them? Because there are some projects that have solved this already, there are crypto projects that are made specifically to carry out millions of transactions at once.

Qubic can do 15.5 million TPS
Tectum can do 1 million TPS
TON can also do 1 million TPS

[Byebyebtc]

It will certainly affect banks, they will loose costumers, but this doesn't mean they wouldn't function anymore,
Banks will adapt, and probably shift system, they will just find a way to fit in. And we all know that salaries will still be paid in fait, taxes also will be paid in fait. The only way fait will die is if government loose control, if not the traditional way of payment will still function.

[Rustam Meraj]

Currently here in my country they are accepting a crypto debit payment which is still treated as a debit card and good thing is they dont have a convert fee its a 1:1 ratio of the payment amount currently used once with the crypto.com visa card, but as of now with the use of the QR payment through wallet is havent experience it yet.
Banks will still be right there because its people still prefered their fiat currencies, not all people are aware with the latest technology such a bitcoin or crypto and the cons here is volatile so they keep preffered the use of the fiat or their local currencies, so basically they cant replace this but now most of the banks here in our local adapted the use of the crypto investment feature.

Though you have not used QR payments yet but much of places are now adding Lightning Network QR codes to their checkout systems and can now make fast Bitcoin payments that are even quicker than card chips.
To my mind, there is no future where people will have to decide between Bitcoin and Banks.
That your local banks now have officially become crypto as a service proves that they no longer see it as rival, but as needed improvement that allows you to handle your investment group of assets alongside your steady cash.

[melinoe]

It will certainly affect banks, they will loose costumers, but this doesn't mean they wouldn't function anymore,
Banks will adapt, and probably shift system, they will just find a way to fit in. And we all know that salaries will still be paid in fait, taxes also will be paid in fait. The only way fait will die is if government loose control, if not the traditional way of payment will still function.

Yep. It will just integrate the crypto into itself to continue being relevant, if that's the case.

[oktana]

THE FUTURE IS NEAR

I don't know about you but this is what I have been rooting out for.



I am patiently waiting for the day where crypto payments is just become so norm that every business owners won't have any reason not to make the options available for their customers.

Somehow I feel this will promote privacy and decentralisation even more, no need for the banks but then again....


Let's talk, if everyone starts paying with crypto and buying and selling with crypto takes over, what will be the jobs of banks then? Any helpful thought on this?

Will this help Fiat in anyway? Will people not see need to still use Fiat? Will banks start having less customers?

You forget that bank controls credit? And credit is power. IMO even if btc payments becomes normal, banks will still remain. Given that most people don’t just store nor save money, they borrow, credit lines? Mortgages, business loans etc. and untill crypto-native lending fully replaces that system at scale, banks will still have a role.
More to say, government taxes are paid in fiat, court contracts, salaries in most region are paid out in fiat. These keeps fiat relevant whether we like it or not.
They may be a shift, and it would definitely not lead to the extinction of banks but may lead to banks not just being the only gatekeepers. And that alone changes power dynamics a lot.

[nemesis_incarnate]

You forget that bank controls credit? And credit is power. IMO even if btc payments becomes normal, banks will still remain. Given that most people don’t just store nor save money, they borrow, credit lines? Mortgages, business loans etc. and untill crypto-native lending fully replaces that system at scale, banks will still have a role.
More to say, government taxes are paid in fiat, court contracts, salaries in most region are paid out in fiat. These keeps fiat relevant whether we like it or not.
They may be a shift, and it would definitely not lead to the extinction of banks but may lead to banks not just being the only gatekeepers. And that alone changes power dynamics a lot.

It would lead to their adaptation to the crypto eco, or giving crypto more space to be in the said traditional world as its auxiliary..

[oktana]

You forget that bank controls credit? And credit is power. IMO even if btc payments becomes normal, banks will still remain. Given that most people don’t just store nor save money, they borrow, credit lines? Mortgages, business loans etc. and untill crypto-native lending fully replaces that system at scale, banks will still have a role.
More to say, government taxes are paid in fiat, court contracts, salaries in most region are paid out in fiat. These keeps fiat relevant whether we like it or not.
They may be a shift, and it would definitely not lead to the extinction of banks but may lead to banks not just being the only gatekeepers. And that alone changes power dynamics a lot.

It would lead to their adaptation to the crypto eco, or giving crypto more space to be in the said traditional world as its auxiliary..

Adaptation is absolutely the obvious move.
I do not think banks will fight something they’d profit from. They’d embrace it, offer custody and just maybe even package bitcoin exposure as another product line.btw calling crypto “auxiliary” feels temporary.
When there’s another settlement and payment system that runs alongside banks, one that doesn’t require approval, it will stop being a backup option and start becoming the bargaining power.
A lot of people may still go to bank for loans and credits or anything related to fiat but knowing they have an alternative changes the dynamic!
If / when banks adapt, that necessarily doesn’t mean the system will stay the same, it just means influence is spread out more instead of being concentrated.
Coexistence is very possible.
But coexistence in an environment that is competitive feels quite different from a monopoly that calls all the shots.

[PhantomBoost]

You forget that bank controls credit? And credit is power. IMO even if btc payments becomes normal, banks will still remain. Given that most people don’t just store nor save money, they borrow, credit lines? Mortgages, business loans etc. and untill crypto-native lending fully replaces that system at scale, banks will still have a role.
More to say, government taxes are paid in fiat, court contracts, salaries in most region are paid out in fiat. These keeps fiat relevant whether we like it or not.
They may be a shift, and it would definitely not lead to the extinction of banks but may lead to banks not just being the only gatekeepers. And that alone changes power dynamics a lot.

It would lead to their adaptation to the crypto eco, or giving crypto more space to be in the said traditional world as its auxiliary..

Adaptation is absolutely the obvious move.
I do not think banks will fight something they’d profit from. They’d embrace it, offer custody and just maybe even package bitcoin exposure as another product line.btw calling crypto “auxiliary” feels temporary.
When there’s another settlement and payment system that runs alongside banks, one that doesn’t require approval, it will stop being a backup option and start becoming the bargaining power.
A lot of people may still go to bank for loans and credits or anything related to fiat but knowing they have an alternative changes the dynamic!
If / when banks adapt, that necessarily doesn’t mean the system will stay the same, it just means influence is spread out more instead of being concentrated.
Coexistence is very possible.
But coexistence in an environment that is competitive feels quite different from a monopoly that calls all the shots.

I think coexistence is really the most realistic outcome here. Banks aren't just about payments, they handle things like loans, credit and legal structures that crypto hasn't fully replaced yet. So they're not going away anytime soon.

At the same time, bitcoin and crypto introduce something new, you can hold and transfer value without permission and you're not fully dependent on banks anymore. That alone changes the dynamic.

Banks will likely adapt because there's money to be made, but the difference now is that people have options. And once people have options, power is no longer one-sided like before.

[Janette014]

THE FUTURE IS NEAR

I don't know about you but this is what I have been rooting out for.

[img height=206]https://talkimg.com/images/2026/01/28/UEu635.jpeg[/img
Let's talk, if everyone starts paying with crypto and buying and selling with crypto takes over, what will be the jobs of banks then? Any helpful thought on this?

Will this help Fiat in anyway? Will people not see need to still use Fiat? Will banks start having less customers?

‎This can only be by absorption where by fiat will fade away and every individual has to pay with just crypto currency. Let's not forget, even the bank right now, not every individual is making use of it, there are people who are still afraid of keeping their finances in the bank. Same thing will happen when it's just crypto currency.

‎Even fiat now, there are individual who aren't exposed to technology, when you do any transition with them, they prefer cash because that's what they can handle. So, banks are not going anywhere but with times Crypto will be more used here than now. Even banks will start operating with it too.

[AsvXrin]

‎This can only be by absorption where by fiat will fade away and every individual has to pay with just crypto currency. Let's not forget, even the bank right now, not every individual is making use of it, there are people who are still afraid of keeping their finances in the bank. Same thing will happen when it's just crypto currency.

‎Even fiat now, there are individual who aren't exposed to technology, when you do any transition with them, they prefer cash because that's what they can handle. So, banks are not going anywhere but with times Crypto will be more used here than now. Even banks will start operating with it too.

It's not something that will replace everything overnight. Adoption usually happens slowly, just like how banks and digital payments grew over time. Even today, a lot of people still prefer cash because it's simple and familiar. The same thing will likely happen with crypto, some will adopt it, others won't especially those not comfortable with technology.

From what I've seen, it's more likely that crypto and traditional finance will exist together. Banks might even integrate crypto instead of being replaced by it. So yeah, crypto will grow over time, but it will probably complement the system, not completely replace it.

[tread93]

THE FUTURE IS NEAR

I don't know about you but this is what I have been rooting out for.



I am patiently waiting for the day where crypto payments is just become so norm that every business owners won't have any reason not to make the options available for their customers.

Somehow I feel this will promote privacy and decentralisation even more, no need for the banks but then again....


Let's talk, if everyone starts paying with crypto and buying and selling with crypto takes over, what will be the jobs of banks then? Any helpful thought on this?

Will this help Fiat in anyway? Will people not see need to still use Fiat? Will banks start having less customers?

The thing about money is that people need something tangible. Maybe not all the time, a lot of folks have become accustomed to using their cards and phone pay and all that stuff but nothing beats having cold hard cash. Today that is a flex. If you're out with friends eating food at a restaurant and the check comes out which is better? Slapping your card in the leather thing or whipping out some crisp 100 dollar bills? Now this could play against you as the waiter may come out and only bring you big bills and hope you don't have any cash left and be forced to leave a larger tip but that can't fool us!! Always bring enough cash   Cash is still king ya'll. And boy oh boy do I love CASH. The only thing I like more than CASH is BITCOIN!!!!

[jizzjazz]

Who would want to pay with Bitcoin? You'd have to be crazy.