Crypto will never replace banking system ,government and banking hold the most powers in the world and because of taxes that companies and individuals paid which are used for social amenities like electrification, health care centers, housing e.t.c. Hence it would be artless to think government will open their eyes and allow crypto to replace banking system.
I know that cryptocurrency can not replace bank, but we misunderstood these because bank is place were money is being transact successfully and is generally known as fiat currency and cryptocurrency is a digital currency that can be seen online and document also online, saying banking system that cryptocurrency will take over it is wrong speech, because what should be there is cryptocurrency /Bitcoin can take over fiat currency. 
Topic: Banks will die crypto will take over in 5-10 years (Read 1229 times)
Crypto will never replace banking system ,government and banking hold the most powers in the world and because of taxes that companies and individuals paid which are used for social amenities like electrification, health care centers, housing e.t.c. Hence it would be artless to think government will open their eyes and allow crypto to replace banking system.
I know that cryptocurrency can not replace bank, but we misunderstood these because bank is place were money is being transact successfully and is generally known as fiat currency and cryptocurrency is a digital currency that can be seen online and document also online, saying banking system that cryptocurrency will take over it is wrong speech, because what should be there is cryptocurrency /Bitcoin can take over fiat currency. Considering on whats the actual purpose on why crypto exist yet it would give out people to chance to be their own bank and if we do tend to compare out on what are the benefits and specific functions on where
banks do then you would able to realize for yourself that this wont really be possible to happen.Hence, as if the government would really just easily allow it? Of course not.
As long they do exist then it wont be happening anytime soon even if we do talk about 10-20 years from now which is impossible.
Crypto will never replace banking system ,government and banking hold the most powers in the world and because of taxes that companies and individuals paid which are used for social amenities like electrification, health care centers, housing e.t.c. Hence it would be artless to think government will open their eyes and allow crypto to replace banking system.
I know that cryptocurrency can not replace bank, but we misunderstood these because bank is place were money is being transact successfully and is generally known as fiat currency and cryptocurrency is a digital currency that can be seen online and document also online, saying banking system that cryptocurrency will take over it is wrong speech, because what should be there is cryptocurrency /Bitcoin can take over fiat currency.
Crypto will never replace banking system ,government and banking hold the most powers in the world and because of taxes that companies and individuals paid which are used for social amenities like electrification, health care centers, housing e.t.c. Hence it would be artless to think government will open their eyes and allow crypto to replace banking system.
It is so hard to come to think that banks will die off. Not really but it is possible cryptocurrency can be more superior than the bank time to come. The bank will still exist , many will like to invest in cryptocurrency instead saving their money in the bank for nothing which won't have any value.
I would disagree with that, although the cryptocurrency is already popular nowadays but I still believe that the fiat system is more superior, and with that said, the banking system is still intact and profitable, they collect deposits and people trust them because they offer insurance, unlike in crypto where it's a high risk. Saving money is good for banks while investing is good for crypto, I believe that way.
On the other hand, banks perform many organizational and administrative functions to serve the economy of each state, which cryptocurrency is not capable of performing.
And most importantly: the banking system is under the full protection of the state and, in fact, is part of the state system of power. Anyone who encroaches on this system will be destroyed by the repressive machine of the state.
It is so hard to come to think that banks will die off. Not really but it is possible cryptocurrency can be more superior than the bank time to come. The bank will still exist , many will like to invest in cryptocurrency instead saving their money in the bank for nothing which won't have any value.
I would disagree with that, although the cryptocurrency is already popular nowadays but I still believe that the fiat system is more superior, and with that said, the banking system is still intact and profitable, they collect deposits and people trust them because they offer insurance, unlike in crypto where it's a high risk. Saving money is good for banks while investing is good for crypto, I believe that way.
I am sure that banks will not be destroyed, because banks play a big role in a country and even in the world, so it is impossible for banks to be eliminated even in the decades to come. in China alone crypto is eliminated how crypto can take over banks.
The most probable and reasonable thing is that crypto will be bigger than it is now, but it cannot replace the role of banks in the world.
The most probable and reasonable thing is that crypto will be bigger than it is now, but it cannot replace the role of banks in the world.
Of course. It was never about "beating" banks, but rather becoming an alternative to the existing banking system. Crypto/Blockchain tech is decentralized, so governments won't allow something they can't control to take over the entire mainstream economy. Fiat will continue to decline, but that won't mean the end of banks. On the contrary, banks will become more powerful as they manipulate the economy to their own will. This will happen after the introduction of CBDCs (digital Fiat currencies to be exact). Set yourself forward 5-10 years from now, and everything else will probably look the same as it is right now. Crypto will be bigger and stronger for sure, but that's it. As long as decentralization prevails, nothing else matters. Just my opinion
no matter crypto would progress on but still it would really remain no matter what which is fiat.Government wouldnt really let these things to happen and this centralized
system would remain for a while and wouldnt tend out to be replaced by something which cant be controlled.Both would co-exist
even if we do talk about forever.
I am sure that banks will not be destroyed, because banks play a big role in a country and even in the world, so it is impossible for banks to be eliminated even in the decades to come. in China alone crypto is eliminated how crypto can take over banks.
The most probable and reasonable thing is that crypto will be bigger than it is now, but it cannot replace the role of banks in the world.
The most probable and reasonable thing is that crypto will be bigger than it is now, but it cannot replace the role of banks in the world.
Of course. It was never about "beating" banks, but rather becoming an alternative to the existing banking system. Crypto/Blockchain tech is decentralized, so governments won't allow something they can't control to take over the entire mainstream economy. Fiat will continue to decline, but that won't mean the end of banks. On the contrary, banks will become more powerful as they manipulate the economy to their own will. This will happen after the introduction of CBDCs (digital Fiat currencies to be exact). Set yourself forward 5-10 years from now, and everything else will probably look the same as it is right now. Crypto will be bigger and stronger for sure, but that's it. As long as decentralization prevails, nothing else matters. Just my opinion
It is so hard to come to think that banks will die off. Not really but it is possible cryptocurrency can be more superior than the bank time to come. The bank will still exist , many will like to invest in cryptocurrency instead saving their money in the bank for nothing which won't have any value.
I would disagree with that, although the cryptocurrency is already popular nowadays but I still believe that the fiat system is more superior, and with that said, the banking system is still intact and profitable, they collect deposits and people trust them because they offer insurance, unlike in crypto where it's a high risk. Saving money is good for banks while investing is good for crypto, I believe that way.
Banks will die crypto will take over in 5-10 years
Why ? They are starting to ask to many personal questions and monitoring people like they are criminals / terrorists etc ...even if they are not ...
Govs want to much control on people...the world is becoming very strange and it all started with 9/11 attacks ... to many coincidences
To many things happened in 2 decades :
Terrorists attacks / Wars on Terror / Arab spring / SARS / Climate Change / Covid / Global trade problems and so on ...
Before 2001 life was normal ...does how are older remember ... now they are not even hidding it / no longer in the shadows what they are trying to do ...
Is it just to take peoples freedom for the "greater good" ? Will people allow their freedom to be taken ?
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Here is a example of problem with banks : I have another girlfriend or a secret kid from another women that i am sending money to each month to support ... now some banks started to ask questions what are you doing with your money ... ? Why are you sending to x,y,z ...We each have our own problems in life...Questions banks started to ask are to personal.
Already all of good banking system trying to do good something about blockchain technology so we can expect in near future we can see all beaning system operate by over blockchine technology. Why ? They are starting to ask to many personal questions and monitoring people like they are criminals / terrorists etc ...even if they are not ...
Govs want to much control on people...the world is becoming very strange and it all started with 9/11 attacks ... to many coincidences
To many things happened in 2 decades :
Terrorists attacks / Wars on Terror / Arab spring / SARS / Climate Change / Covid / Global trade problems and so on ...
Before 2001 life was normal ...does how are older remember ... now they are not even hidding it / no longer in the shadows what they are trying to do ...
Is it just to take peoples freedom for the "greater good" ? Will people allow their freedom to be taken ?
-------------------------------------------
Here is a example of problem with banks : I have another girlfriend or a secret kid from another women that i am sending money to each month to support ... now some banks started to ask questions what are you doing with your money ... ? Why are you sending to x,y,z ...We each have our own problems in life...Questions banks started to ask are to personal.
When you say that the bank will die in 5-10 years, that means our government will also die, don't forget that our government creates a central bank to monitor the banking system and they issue fiat, so where would fiat go? do you think bitcoin will replace fiat? if you answer is no, then no doubt that banks will stay.
There is no way that government will die or the system of the government will be vanish. And on the same way there is no chance that fiat will be disable. And at the same time there is no chance that bank will die. People may not be rely only on the bank but people will have to rely on the bank. If bank die or banking system die then how people will take loan to enlarge their business or necessities.When you say that the bank will die in 5-10 years, that means our government will also die, don't forget that our government creates a central bank to monitor the banking system and they issue fiat, so where would fiat go? do you think bitcoin will replace fiat? if you answer is no, then no doubt that banks will stay.
There is no way that government will die or the system of the government will be vanish. And on the same way there is no chance that fiat will be disable. And at the same time there is no chance that bank will die. People may not be rely only on the bank but people will have to rely on the bank. If bank die or banking system die then how people will take loan to enlarge their business or necessities.
When you say that the bank will die in 5-10 years, that means our government will also die, don't forget that our government creates a central bank to monitor the banking system and they issue fiat, so where would fiat go? do you think bitcoin will replace fiat? if you answer is no, then no doubt that banks will stay.
You are probably right that crypto will take over in 5-10 years. I would say even 2-3 years. However, banks arent going to die. Banks are increasingly getting involved with crypto and profiting from it. Ripple and many HyperLedger projects are backed by banks. The biggest project that I am keeping an eye on is Circle, Coinbase and their USDC. Its starting to look like a front-runner for the CBDC of the Fed. They have the ability to blacklist wallets and have been granted FDIC insurance. Federal Deposit insurance is not given to just any organization. There has to be some sort of cooperation between the Federal Government and Coinbase/Circle. A CBDC offers the Government and the Federal Reserve a chance to maintain complete control as it would push out cash and 'under the table' transactions. It also allows them to 'shut off' anyone who disagrees with their policies. Banks and Government entities are always a few steps ahead of the general population. If Bitcoin, or any crypto, threatened their control, it would be quickly discredited or shut down. Remember that.
Banks will die crypto will take over in 5-10 years
Banks would never die as long government do exist and come to think that it wasnt even possible even on my dreams on having a society thats been ranon a decentralized manner because it would just basically wipe out the true existence of government in the first place if ever that thing happens.
Taking over is something is really impossible to happen.We cant deny that there are services we do really need on a centralized network.
I agree with this. As long as the government exists, banks will not disappear and especially the government will not allow crypto to take over banks unless the bank uses cryptocurrencies. Because banks pay a lot of taxes to the government.
Not all banks are very personal asking because they also know that all their clients have privacy, if someone already has an account with a bank they are no longer there to ask questions or interview their clients. Unless the person who's asking you is interested in your personal life, bank staff do not have to ask their client sensitive questions. Before you open a bank account, you need to pass the requirements and they have a form provided for your information so that they will know what a person's source of income is.
which is really an impossible one.
I think banks will never die. But they are different in the upcoming future. Great article!!
Banks will die crypto will take over in 5-10 years
Banks would never die as long government do exist and come to think that it wasnt even possible even on my dreams on having a society thats been ranon a decentralized manner because it would just basically wipe out the true existence of government in the first place if ever that thing happens.
Taking over is something is really impossible to happen.We cant deny that there are services we do really need on a centralized network.
I agree with this. As long as the government exists, banks will not disappear and especially the government will not allow crypto to take over banks unless the bank uses cryptocurrencies. Because banks pay a lot of taxes to the government.
Not all banks are very personal asking because they also know that all their clients have privacy, if someone already has an account with a bank they are no longer there to ask questions or interview their clients. Unless the person who's asking you is interested in your personal life, bank staff do not have to ask their client sensitive questions. Before you open a bank account, you need to pass the requirements and they have a form provided for your information so that they will know what a person's source of income is.
which is really an impossible one.
The whole economy of the world is running through banks. The Govt makes projects for development and for the welfare of the people and funds are provided through banks. So it is not possible that in the next 5-10 years banks will go to die. But the crypto will be deposited through banks and withdrawal through banks by means of ATM, credit cards or master cards,s, etc. In the future banks will facilitate crypto and you are seeing that it had become possible today.
Banks will die crypto will take over in 5-10 years
Banks would never die as long government do exist and come to think that it wasnt even possible even on my dreams on having a society thats been ranon a decentralized manner because it would just basically wipe out the true existence of government in the first place if ever that thing happens.
Taking over is something is really impossible to happen.We cant deny that there are services we do really need on a centralized network.
I agree with this. As long as the government exists, banks will not disappear and especially the government will not allow crypto to take over banks unless the bank uses cryptocurrencies. Because banks pay a lot of taxes to the government.
Not all banks are very personal asking because they also know that all their clients have privacy, if someone already has an account with a bank they are no longer there to ask questions or interview their clients. Unless the person who's asking you is interested in your personal life, bank staff do not have to ask their client sensitive questions. Before you open a bank account, you need to pass the requirements and they have a form provided for your information so that they will know what a person's source of income is.
I am sure that banks will not be destroyed, because banks play a big role in a country and even in the world, so it is impossible for banks to be eliminated even in the decades to come. in China alone crypto is eliminated how crypto can take over banks.
The most probable and reasonable thing is that crypto will be bigger than it is now, but it cannot replace the role of banks in the world.
I agreed with you, banks would do more of peripheral jobs but unreplaceable, probably there major role is for transactions between two anonymous crypto traders selling of coins and sending fiat to the buyer vice visa however I think a lot of crypto enthusiasts will prefer to hodl their coin as a store of value rather save it as fiat in the bank thus banking would be less attractive to people in saving money because the rate at which crypto adoption is going is in leap and bound.The most probable and reasonable thing is that crypto will be bigger than it is now, but it cannot replace the role of banks in the world.
on making out profits in long term basis plus its not been regulated in every corners of the world which its normal that you would really be having that kind of hesitance in doing so
since you couldn't really do it after all.
Fiat would still remain no matter what because there would be always a government would be backing it up and wont really be letting decentralized things would take over.
But honestly we couldn't really think off if banking sector or institution would be wiped out considering the services that they do gave then its still crucial for us on needing it of.
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