Topic: Banks are collapsing. Will Bitcoin and other cryptocurrencies rise from here?? - page 2. (Read 650 times)

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.

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.

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.

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.

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

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.

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".


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

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.

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

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

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.

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.

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.

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.

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

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.

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?

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

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.

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.