Topic: Crypto to trigger a global bank run? - page 5. (Read 1049 times)

If you really think that fiat money is really garbage and fake,why don't you just throw some fiat money in the thrash. I believe you wouldn't do that,right.
Some people don't realize how small the crypto industry is.The global market is 200 bln USD which under 1% of the global GDP.The banks simply don't care about crypto,because it's too small.

Store of value, I don’t know how you think about store of value, my store of value refer to anything that many people would want it badly, long ago, people love some art, and some people like bill gates love the art, he would buy it at any price, because it is what many people want it, and there is even more retard store of value, rare retro game cartridges which worth hundreds of thousands, why people want it badly, but it certainly has a lot of value thus it has good store of value, does the money itself has great store of value? Or it is just a piece of IOU certificate that nobody want it, and thus throwing at each other.

Sometimes we can get carried by our cryptocurrency-induced dreams that we tend to forget that we are still living in reality. We are dreaming that one day the whole world (and that of course includes China, Russia, India and the vast territories of the North and South Pole) will be coming magically under the influence of Bitcoin with maybe Satoshi Nakamoto coming out of retirement and lead the world towards the nirvana we all wanted with all of our heart and soul. This forum is for the dreamers but also for people who prefer to also live in reality. Cryptocurrency and the blockchain can be a good tool towards innovations and changes but relying on them to magically transform the world can be a bit too much.

Facts:
1.agree, crypto is nothing without people using it.
2.economics, well the terms economics I believe didn’t change overtime, it should still refer to interaction among human beings, when two person trades with each other we called that economics, but crypto? I think it is visible enough the trading is very tremendous, although I could hardly get a clue what’s going on.
3.If money itself is an IOU, crypto itself could work just as great as IOU too.
4.true, crypto is just a knowledge if I would like it to be more precise.

Possibilities:
1.I think digital money itself is virtual at best, it had replaced the paper money itself. And central bank create the money? I don’t think so. People believe money are created by M0, M1, and M2, which m0 is money base, M1 and M2 is digital money and stock market, what could crypto fitted in this definition?
2.I doubt bank could catch up with the change, they don’t need to change, I certainly agree with most of the point Vitalik Butterin the creator of the ETH stressing.
3.how about one world one crypto, but it would seem more hostile, because of how easily crypto move from one to another, a currency will only be strong when it is highly controlled.
4.without human being interaction, bank economics wouldn’t work, and I believe bank will survive, but may be getting smaller market.
5.And 6. I think joniboini has addressed it pretty well.


Well, it is just my opinion, economics is certainly not my cup of coffee, I actually had very limited understanding itself, but I can feel something itself is changing, it could be the crypto is the source of that change. However I may be as dumb as the government who is always hostile toward the change.

That's even more than what has already written by satoshi on its WP. It looks like there was a lot of unpredictable condition when people are seeing bitcoin as a revolutionary system right now and it's not only limited to change the digital payment system only like what has already stated by satoshi.

It will disrupt the centralized economy system but it will not so far as your prediction to make the bank gone. Store of value? maybe not maybe yes.

The term fake money itself shows the misunderstanding about the bitcoin. When it comes to fake money, it is the one that we give with kids to play business. Bitcoin is completely different and has given a new dimension to the financial technology. People were more attached to currencies that have a backing, here the technology backs bitcoin. With fiat each currency is provided with a value, here the value is generated.

These two points are spot on!

At this moment I don't know what the future holds, but Bitcoin become the only currency for this world is damn near impossible. There are too many powerful government bodies and of course politicians which won't let that happen. Unless somehow they force the consensus to change and allows Bitcoin to be inflated just like fiat.

On the other hand, it's almost too late to stop crypto from becoming mainstream. Which is why the compromise would be to allow crypto and fiat to coexist together. I think Bitcoin was never meant to be a fully usable daily currency anyway, at least you don't need to use Bitcoin if you only need to buy a snack from your neighborhood.

Firstly, come down to the ground because you are currently sitting on an imaginary issue which doesn't exist!

Understand the below facts,

1. crypto is not a magic wand.
2. Crypto is not created to bring economic overhaul
3. Crypto doesn't have the power to become global currency
4. Cryptos are literally a piece of code

Now, lets look at the possibilities,

1. Virtual currencies will take over the world economy which will be created and circulated by the central banks
2. Banks will have to bring in major technological changes in their operating structure to cope up with the changes
3. World will never move to "one world one currency" regime
4. Banks will still control the economy
5. The parallel economy created by cryptos, will get merged with mainstream economy after banks and governments realize that it's impossible to stop them
6. Crypto enthusiasts will keep the revolutionary ideas in heart but continue to live in reality

Constructive criticisms are welcome!

I think everyday trust toward to the money is rapidly depleted, and people will finally realised how ignorant and gullible they’re to just earn the IOU garbage fake money, do you think crypto will trigger the complete bank run? Or any other delusional store of value that we don’t know yet?