Banks are collapsing. Will Bitcoin and other cryptocurrencies rise from here?? - page 3.

Silberman

legendary

Activity: 2534

Merit: 1338

Quote from: Abiky on March 31, 2023, 12:26:05 PM

Quote from: Silberman on March 29, 2023, 10:44:02 PM

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.

adzino

copper member

Activity: 2968

Merit: 575

www.Crypto.Games: Multiple coins, multiple games

Quote from: FireDAO CY on March 15, 2023, 09:34:52 PM

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.

Tony116

legendary

Activity: 2072

Merit: 1023

casinosblockchain.io

Quote from: Abiky on March 31, 2023, 12:26:05 PM

Quote from: Silberman on March 29, 2023, 10:44:02 PM

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.

CarnagexD

sr. member

Activity: 1498

Merit: 374

Leading Crypto Sports Betting & Casino Platform

Quote from: FireDAO CY on March 15, 2023, 09:34:52 PM

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.

Quote from: Dr.Osh on March 30, 2023, 11:38:12 PM

Quote from: FireDAO CY on March 15, 2023, 09:34:52 PM

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.

ololajulo

sr. member

Activity: 2240

Merit: 270

SOL.BIOKRIPT.COM

Quote from: FireDAO CY on March 15, 2023, 09:34:52 PM

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

Abiky

legendary

Activity: 3220

Merit: 1363

www.Crypto.Games: Multiple coins, multiple games

Quote from: Silberman on March 29, 2023, 10:44:02 PM

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

Marvell1

legendary

Activity: 2408

Merit: 1102

Leading Crypto Sports Betting & Casino Platform

Quote from: abel1337 on March 29, 2023, 06:51:03 PM

Quote from: Abiky on March 29, 2023, 12:50:48 PM

Quote from: Lainta on March 27, 2023, 10:16:33 AM

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.

Dr.Osh

legendary

Activity: 2758

Merit: 1004

PredX - AI-Powered Prediction Market

Quote from: FireDAO CY on March 15, 2023, 09:34:52 PM

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.

Teraboy

hero member

Activity: 2282

Merit: 505

Quote from: Silberman on March 29, 2023, 10:44:02 PM

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.

Silberman

legendary

Activity: 2534

Merit: 1338

Quote from: Rengga Jati on March 29, 2023, 07:55:17 PM

Quote from: FireDAO CY on March 15, 2023, 09:34:52 PM

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.

Rengga Jati

hero member

Activity: 2072

Merit: 656

PredX - AI-Powered Prediction Market

Quote from: FireDAO CY on March 15, 2023, 09:34:52 PM

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.

blockman

hero member

Activity: 3038

Merit: 628

Vave.com - Crypto Casino

Quote from: Teraboy on March 29, 2023, 07:02:11 PM

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.

Teraboy

hero member

Activity: 2282

Merit: 505

Quote from: Junii on March 28, 2023, 02:59:50 PM

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.

abel1337

legendary

Activity: 2492

Merit: 1145

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Quote from: Abiky on March 29, 2023, 12:50:48 PM

Quote from: Lainta on March 27, 2023, 10:16:33 AM

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.

Abiky

legendary

Activity: 3220

Merit: 1363

www.Crypto.Games: Multiple coins, multiple games

Quote from: Lainta on March 27, 2023, 10:16:33 AM

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

Junii

newbie

Activity: 28

Merit: 1

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.

jrrsparkles

sr. member

Activity: 2436

Merit: 272

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: FireDAO CY on March 15, 2023, 09:34:52 PM

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.

Mozzart

member

Activity: 382

Merit: 10

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.

Dragonfund

full member

Activity: 546

Merit: 148

Quote from: FireDAO CY on March 15, 2023, 09:34:52 PM

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.

carrie_white

full member

Activity: 784

Merit: 101

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

Topic: Banks are collapsing. Will Bitcoin and other cryptocurrencies rise from here?? - page 3. (Read 650 times)