nice topic bro..
Topic: Banks will die crypto will take over in 5-10 years - page 10. (Read 1229 times)
I myself feel that my freedom has been taken away in my own country..when several factors change the habit of living at home without any income..even though some people have a bad opinion about bitcoin..I think this is interesting to learn for the necessities of life..not only our popes also entitled..in my country have started to look at crypto they open a new channel as a third party..maybe in the future it will be one of their services..how about your country?? hopefully the bank will not be an opponent but a complement... crypto transactions are getting easier
nice topic bro..
nice topic bro..
I guess bank will not die than to help people to know the difference between decentralized currency and centralized currency. Now that many countries are still use to centralized currency because they are not use to decentralized that came to eliminate economy failure and reduced unemployment in the world economy.
Crypto will continue to fulfilling the purpose it was created by making transaction faster, steady and reduce delay in the community. Bank will still remain centralized currency and Crypto will still remain decentralized currency that is contributing to the world economy. In next 5 or 10 years crypto will be the most popular currency in the world.
Banks will literally give up on centralized currency and move to decentralized one the moment they realize that the path to getting out will be exactly that. There is nothing that you could do to make them go out of their way to make a profit, if they can profit with crypto and make a loss with fiat then they will not try to fight it, they will not "go away", they will not bankrupt. They will simply just take over the crypto world and try to make a profit that way.Crypto will continue to fulfilling the purpose it was created by making transaction faster, steady and reduce delay in the community. Bank will still remain centralized currency and Crypto will still remain decentralized currency that is contributing to the world economy. In next 5 or 10 years crypto will be the most popular currency in the world.
It is clear to me that wealthy people do not become wealthy by just working hard, they are also working smart, and ruthless and cunning as well. They do not care what they do, they just care about how much they could make and that's all they care about.
10/20 years is not a long time in the industry and technology of economic growth, with that time it is not easy to shift the role of banking in the world's people's lives even though we know the shortage of banks in transactions is very far from the digital blockchain world, but what we need to remember banks can still touch several lines of the economy in people's business loans; just as agriculture and fishing are actually the businesses of most locals while the cryptocurrency world is very difficult to touch and tends to only create and sell tokens after they are abandoned.
I guess bank will not die than to help people to know the difference between decentralized currency and centralized currency. Now that many countries are still use to centralized currency because they are not use to decentralized that came to eliminate economy failure and reduced unemployment in the world economy.
Crypto will continue to fulfilling the purpose it was created by making transaction faster, steady and reduce delay in the community. Bank will still remain centralized currency and Crypto will still remain decentralized currency that is contributing to the world economy. In next 5 or 10 years crypto will be the most popular currency in the world.
Banks will literally give up on centralized currency and move to decentralized one the moment they realize that the path to getting out will be exactly that. There is nothing that you could do to make them go out of their way to make a profit, if they can profit with crypto and make a loss with fiat then they will not try to fight it, they will not "go away", they will not bankrupt. They will simply just take over the crypto world and try to make a profit that way.Crypto will continue to fulfilling the purpose it was created by making transaction faster, steady and reduce delay in the community. Bank will still remain centralized currency and Crypto will still remain decentralized currency that is contributing to the world economy. In next 5 or 10 years crypto will be the most popular currency in the world.
It is clear to me that wealthy people do not become wealthy by just working hard, they are also working smart, and ruthless and cunning as well. They do not care what they do, they just care about how much they could make and that's all they care about.
If I am not mistaken, In the states the FDIC Chair said they were looking to see how or what roles a bank can play in the industry. At the end of the day, it is about profit for banks and maintaining that stream of income as a business, even if a bank. As Jurassic Park chaotician said,"Life Finds a way".
You could say that govs want to control people but the govs priorities the control of money. I don't think banks will just go away and die. I would rather believe that banks will start to use cryptocurrency and have their own exchange then they will earn profit from it. There is a wallet/exchange regulated by a central bank in my country.
The banks will still exist in the next 5 years but I can not predict if that is about 10 years later because with the growth of the technology, that can change the bank's system and we are difficult to know what the government plan with the banks. Maybe banks will use a new system and adopt a blockchain method or the banks can use their own new system and not related to the blockchain because that will depend on each government plan. But people who do not want to use a new thing will still rely on the bank because it is hard to adapt to the situation and still prefer the old methods.
The growth of crypto users has been started to increase and it will be even more visible in the next 5-10 years. And with this positive change for crypto, the government will always exist with its centralized banks and will continue to serve the people. And with the inevitable growth for crypto enthusiasts, i think the government will create plans for banks to start adopting crypto transactions with fiat still existing. Since there will be two groups already for crypto and fiat users, then banks should also learn to cater to them both, the reason that banks should never be extinct. 
The banks will still exist in the next 5 years but I can not predict if that is about 10 years later because with the growth of the technology, that can change the bank's system and we are difficult to know what the government plan with the banks. Maybe banks will use a new system and adopt a blockchain method or the banks can use their own new system and not related to the blockchain because that will depend on each government plan. But people who do not want to use a new thing will still rely on the bank because it is hard to adapt to the situation and still prefer the old methods.
I guess bank will not die than to help people to know the difference between decentralized currency and centralized currency. Now that many countries are still use to centralized currency because they are not use to decentralized that came to eliminate economy failure and reduced unemployment in the world economy.
Crypto will continue to fulfilling the purpose it was created by making transaction faster, steady and reduce delay in the community. Bank will still remain centralized currency and Crypto will still remain decentralized currency that is contributing to the world economy. In next 5 or 10 years crypto will be the most popular currency in the world.
Crypto will continue to fulfilling the purpose it was created by making transaction faster, steady and reduce delay in the community. Bank will still remain centralized currency and Crypto will still remain decentralized currency that is contributing to the world economy. In next 5 or 10 years crypto will be the most popular currency in the world.
Bitcoin and cryptocurrencies users are increasing and many have shifted their money from banks to cryptocurrencies, this is a sign that banks will die, I believe in countries that have legalized bitcoin like el savador then 10 years from now there will be no banks, everyone will control money with cryptocurrencies.
This might not be a reality it would only exist in the dream world because those in authority will always want to be in charge of their citizens funds so they can track what goes around financial sectors. This is why the regulators are trying had impose digital currencies on their citizens and forcing them to believe it's a better investment option than crypto so the can tell who owns which funds
Not all cryptos are truly decentralized!
Banks will just switch over to crypto and act as exchanges. Doesn't seem like other currencies will die, but rather there'll be competition between currencies, and banks could serve the role of acting as an intermediary for the sake of convenience. Still, there won't be a reliance as any crypto owner will have full control over their funds. Anyone that doesn't trust themselves to handle their own coin could rely on a bank to hold their funds if they wanted to, because that's basically the traditional system we have today that most people rely on. Financial institutions are quick to adapt so I wouldn't count them out. Except centralized banks to start issuing out CBDC's out to smaller private banks first, and then when that doesn't work they'll start to dive into crypto (I don't consider CBDC to be a true crypto currency, even though people compare the two)
Doubt that banks will just go away.
Banks will certainly adapt to the new crypto landscape and start offering wealth management and transaction services that are denominated in terms of crypto.
But they will certainly not be extinct. Even in the crypto sphere some degree of centralization is necessary to sustain practices (at least as of current).
Banks will certainly adapt to the new crypto landscape and start offering wealth management and transaction services that are denominated in terms of crypto.
But they will certainly not be extinct. Even in the crypto sphere some degree of centralization is necessary to sustain practices (at least as of current).
I wholeheartedly agree. Banks will remain as fiat will still continue to be the standard/medium of exchange even in the far future.
What makes cryptocurrencies impossible for standardization is the recognition they must gain from countries before they come legal tender. Imagine having a currency that is volatile in nature, which changes its value every second of the day. This would not only disrupt the market but also be prejudicial to either the vendor or the vendee depending on who controls majority of the supply of BTC.
That is also one of the reasons on why banks will continue to remain as long as fiat stays in the picture.
One of the greatest financial advisers once said that what is old will survive, gold and silver are old and it will survive, so basically since Banks are older than bitcoin or crypto, then it will survive, while on the other hand, crypto is relatively new as bitcoin is not even 15 years old yet, so there's a chance that it will not survive while the bank will remain.
Actually, we can't compare apple to orange because both have a different purpose, banks do centralized transactions while bitcoin or blockchain do decentralized transaction, but what's more powerful are the regulators and that will favor the banks since they can declare bitcoin to be illegal while keep the banking system legal.
Actually, we can't compare apple to orange because both have a different purpose, banks do centralized transactions while bitcoin or blockchain do decentralized transaction, but what's more powerful are the regulators and that will favor the banks since they can declare bitcoin to be illegal while keep the banking system legal.
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 ?
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 ?
Banks are now a dead weight on global economy due to over the top KYC/AML. The problem I see is that some centralized crypto exchanges are now getting even worst than banks. The future will be peer to peer.
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 ?
Why do you want banks to die? It doesn't have to die. Bank, fiat and crypto currencies can be used side by side, concurrently. We are not in war with banks or fiat currency. Even if crypto currencies to replace fiat or the bank, it won't be happening anytime soon. Maybe after decades, but not now. And you are saying that terrorism financing is the reason why crypto will replace banks? I mean wouldn't the exact opposite be happening? 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 ?
It's not necessary for me to read your reason because it will never happen.
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.
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.
For sure those things what in your mind will not happen since for sure government is just making an audit to see if this is safe to be used by their citizens since knowing that bitcoin is been tag as currency used by criminals, but even if those things came first before this good things happening on this coin still we don't see any of them completely ban its usage to their respective country. And there's no freedom taken on this since anyone could use bitcoin after all.
I just love it when people are into crypto that much. I do not care how wrong they are, instead of people saying "bitcoin will die eventually", I like to see people saying "bitcoin will take over the world!!!!".We know that both of them are wrong, we know that it will neither die nor take over the world, we know that it will grow in a good manner and be a good alternative to use as an option for whoever prefers it and that's it, we know that people may continue to make a profit from it, doubtful to make profit like the people who bought bitcoin for few cents, but still could make a decent profit. However, I still prefer these type of wrong people, at least they are hyping bitcoin like crazy.
Because you are a crypto fan, you definitely want to hear something positive about crypto instead of having to hear something negative. Although
as you said sometimes the positive things we hear are not true and are difficult to realize, but we are happy to hear them. That's a natural thing,
it happens to anyone, because most humans really want to hear what they really want to hear. I also think like you, would prefer people who spread
the word Bitcoin will take over the world and will make banks die. Because this will make people more motivated to invest in Bitcoin and eventually
make the Bitcoin price go up. Although I admit it's wrong, but maybe my selfishness arises and I really want to see Bitcoin become the best currency
in the world.
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
Even banks are not showing interest in cryptocurrency. I don’t really think banks are going to die off just like that, there will also be people who are still interested in making use of banks, maybe people who find it very difficult to navigate through the use of crypto currency. But, for those of us who would be able to manage their finances by themselves, it wouldn't be bad if we do that by choosing crypto.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
It is all about choice, if you think it would be best for you to put all your money in cryptocurrency and you’re ready to take the risk, then you can go ahead and do that. But if you still look at things the other way round, you would see that in a way you still need the services of banks in some areas, why cryptocurrency especially Bitcoin continues to play its own part in the areas that it would fit in best.
Im not against with decentralization but we should accept the fact that current system we are taking and been using through ages
does really give out that convenience.
Why not thinking off on having both on upcoming or near future? The more the better right?
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