Topic: Banks against the crypto - page 2. (Read 12007 times)

Good point. Because of crypto's inability to become an independent medium of exchange, we'll always have the need to interact with Fiat somehow. Banks are known to be the gateway from crypto land into the Fiat world. Without them, one cannot exchange cryptocurrencies into Fiat as there's no central issuer. On the other hand, one cannot live without crypto as it provides freedom to our financial life.

As such, everything in the world needs balance. There cannot be a single thing for any purpose in life. Which means, that diversity is needed for our world to change for the better. Banks and crypto will turn their separate ways for the foreseeable future. But they cannot destroy each other in any way.

The main reason Banks have been against crypto is because they don't want people to gain control of their financial life. Banks' living is based off fees from its customers, and if that's gone, their business will end for sure. While Banks are against crypto most of the times, they're not against Blockchain technology which powers most (if not all) cryptocurrencies known today.

Banks have seen Blockchain as extremely beneficial to them, that they have started exploring the technology more thoroughly. Before you know it, a new age will come where Fiat will no longer exist physically, but it will live on a Blockchain of its own. All in all, both ends (Banks and crypto) will survive for a long time. Just my thoughts

Banks are against crypto because they see crypto as a major disruptive agent to their existence. Banks are centralized and intends to gain total control and power over the financial transactions of the people whereas crypto do the contrary by given back the power to the people to own control over their own transactions.

It's for better that the banks get their hands out of the crypto space. Yet. We cannot prevent them to adquire knowledge about the space. but Crypto came here to empower the individual. Banks do not want that. Banks only want to control people. They do by lending "Your" money. Which in fact it's never yours.

While banking had been always a good way for the economic to fluctuate around the world. Yet it does not. by misleading peoplee. It's time for the knowledge it's why cryptocurrencies here

In fact. These morons. Withour the poor system of priting money, or typing it digital on your account they rich as they do.

https://twitter.com/coincenter/status/1126574631605997569

I'm wondering what this guy above is smoking, lmao

Banks are always part of country's economy so they are not going disappear unless they will be replaced by more effective and efficient means of finance. When a country's banking sectoris healthy, it will greatly contribute to the growth of nation's economy. Bank can upgrade itself to match the modern technology and the threat of cryptocurrencies. In fact, some of the banks are already planning to use blockchain in the future.

Surely the victory will be with crypto currency because crypto currency has more value as compare to banks now, people want limitless earning and they are not happy with this centralized system of the banks crypto currency is on its growth but banks lose value now because of its old system which is being use since decades and crypto currency is the invention of this modern age.

why do have to eliminate the Bank. isn't there a better way than to eliminate it. the best way for cryptocurrencies to succeed is to collaborate with the Bank. inside the bank there are still many people working in it who cannot be replaced by machines or AI in making decisions.
Banks are financial legalities recognized by the state and companies, there are still many aspects that are owned by the Bank that cannot be replaced by cryptocurrencies.

Its reall been a long time now that  banks have been against Cryptocurrency and cryptocurrencies always have high potential to make banks disappear out of the world.

Banks are always against Cryptocurrency and cryptocurrencies always have high potential to make banks disappear but still, there is no reason for that to happen. Someone or something being better does not mean the other lower thing should be disappeared from existence. bitcoin and other cryptocurrencies have value because they can be exchanged with faint currency if there is no faint, then crypto's will be at high risk.

This is a topic that everyone always wants to be right, both banks and those who defend technologies, in this case I think that both ways of managing money should always coexist.

Fiat money is necessary, because many transactions must be that way, and the most fundamental part of progress gives the way open to bitcoin and blockchain technology.

The tenology of Blockchain and Bitcoin offer new ways to pay for goods and services, it is a totally free, decentralized economy and you can achieve your financial freedom quickly, besides the transactions are very secure and secure, they represent more confidence when it comes to making transfers which are very large and that all banks always put problems to make them, through bitcoin, they are made and they are very fast, without problems and without danger that the money is lost, besides that to steal through the bitcoin portfolios has been almost impossible because to hack there is no technology to do it.

FIAT thefts in money if it is much easier and very feasible for many, there is less security and it must be in cash. I believe that this is why both are necessary, because in case of a munificent failure of electric power or internet service, simply the bitcoin and the technology is canceled.

People didn't use the decentralized payment system yet,they see bitcoin as opportunity for money making and they will exit the market once made profits so where we need bansk so cryptos definitely can't destroy the banks by this way.

For me banks cannot be dissolve as it will be the way how the government can manipulate the world market.

We know that in a certain country their would be unity if their is government as it will lead how the country will move forward.

Banks can adopt certain part of blockchain technology but it cannot be decentralized. Bitcoin is just an alternative for bank who serves for the unbanked people.

But we also needs to consider the fact that banks can easily adopt and make a use of this system to favor them, they will not be removed from the picture but they will continue their business, businessman knows how to deal with competitors they will simply adjust or take advantage of it.

If transactions in cryptocurrencies are finally approved it would not really get banks out of the word but it would rather reduce their activities as most people would use cryptocurrencies to make transactions.

I am sure that the banks will not disappear. Most likely, they will change and will use the blockchain. This will be the centralized version and I dont like it.

I am for decentralization. I hope, in the fight against crypto against banks, the victory will be for crypto.

These are why the govs fear decentralised cryptos. They have been using regulations to save their arse all the while.
They control others and at the same time can get away with paper cash if they are the ones doing the dirty stuff.

They don't but the fact that they are regulating the bank, they have the power to control it.
Also, the government have the power to print money which is not transparent to all of us, they can take advantage of doing illegal activities when they are in control. The biggest corruption happens within the government, so we need to change that as its our money that is being stolen, crypto is the solution as it promotes real transparency.

Until and unless they get into the adoption of blockchain technology they will stay against the cryptocurrency. Banks have faced a big loss due to the increased transactions that has taken place using bitcoin. These days to avoid lots and lots of process for large volume transactions people prefer bitcoin where there is no limitations and restrictions. This is a big blow for banks and soon can expect banks getting integrated with bitcoin and blockchain.

Technically, banks are the ones controlling governments. Govs don't control the banks. So bank will still be around for a long time. What they do is that they adapt to how the tech advances. And govs just have to create regulations to help these bankers in order to help themselves(govs).

Banks do not necessarily need to close down Operations because of cryptocurrencies although some investors or cryptos enthusiast prefers Hodling their assets in form of cryptos in a wallet rather than banking it as fiat however I believed  the bank will initiate it's own idea to keyed into cryptos system so as to coexist with it else the would  lose customers savings and having to battle with the latest trend or idea of anonymous transactions via cryptos.

Most banks are going to a dip due to the low interest rate they offer to customers. On the other side too, crypto with a bearish market and it has been a hot cake as to which one to decide on.