Quote from: AndySt on November 02, 2020, 10:38:37 PM

Quote from: Twentyonepaylots on November 02, 2020, 09:13:15 PM

Quote from: FACE 2 FACE on November 02, 2020, 07:49:07 PM

It seems to me that these are vain hopes that banks will one day disappear. Even if they do not exist physically and they do not have offices and real estate in which they are now, they will continue to exist virtually. In the form of portals or in the form of interactive decentralized services. I think it will be that way.

Banks live and thrive over their customer's trust and money. Their biggest ways of earning profits is through investments and ironically, through loans made by the customer. That being said, as the economy continuously decline due to the pandemic, it is expected that people will look for alternative ways of investing rather than sticking with banks. This is where bitcoin comes in. It's going to be a long process, but this is the first of the many steps bitcoin will take towards winning over corporations.

For some reason, I have a persistent feeling that corporations with their huge resources will ultimately win in the end Wink

Human self-organization is a great thing, but it usually gives in to a clearly organized hierarchical structure, which in its current manifestation is a modern corporation. The pandemic is hitting small businesses much harder in the current situation than large corporations that have accumulated reserves to survive the current situation. The state also provides assistance to big business.

But still the economy fill not function very well without banks. For those people who thinks that banks are not important, try to study more economics. Banks have important role in our economy and it should not be remove because they are the one who circulates fiat money in our society. The banks are also giving loan especially for those corporations of businessman that want to expand their business. Banks are also giving interest as payment for those people who want to save their money but there is also a downside which it only give small interest in long period of time. In this kind of pandemic, we should really see how important are the banks. A lot of business are now not functioning because of the their losses but they can able to operate again if they will get loan in banks to expand their business.