We somehow give a connotation that cryptocurrency is a way out of the influential and powerful ways of the banks and the governments. No wonder why crypto first thrived in the underground--in the deep web for instance--
before it came out into the open and eventually into the mainstream arena.
However, we noticed that the banks and the governments are now getting into the crypto game. There are news that certain banks around the world are opening up for crypto already. And the governments are also accepting yet effectively regulating crypto at the same time, thus controlling it in some significant ways.
Do you guys think that the with the powerful banks and the governments joining in the crypto development, its revolutionary system will somehow get pulled towards the old kind of system we have right now?
I need your wide perspective on this please. Thank you.
Banks are entering only now. Crypto was never out of influential and powerful ways. The exchanges have ruined people's lives. There has been intervention from authorities from time to time. Now that banks are eventually entering the arena, things would get out of hand. We will have to again deal with the KYC annoying crap. Some exchanges are even asking proof of funds. For CRYPTO. ARE YOU KIDDING ME? How will one possibly provide proof of funds from monero? The world will stop getting fucked up. Wish dictatorship was still a thing. Rather get yourself crucified than losing your damn privacy.