Quote from: bryant.coleman on Today at 01:02:42 PM

Quote from: Firefox07 on Today at 12:55:12 PM

I still believe that the banking industry can still recover. And crypto currency exchangers will take a long time before it can change the banks.

Although I would not compare the banks with cryptocurrency exchanges, the truth is that the banks are not in good shape. Many of them are surviving, just because of the bailouts from the government. Loan defaults have increased to such an extent that the banks are no longer able to keep a balance between deposits and loans. On top of that, the margins have decreased due to the decline in interest rates.

Banks are still important in the world, we cannot just say that it is better to close because there are some cryptocurrency exchanges. Banks are used for traditional transactions and we all know that cryptocurrency is not that ready to use instead of using banks because cryptocurrency still needs to be innovated and become recognized by all countries as well. We can say that there are still countries that are prohibiting the usage of cryptocurrency and that is not good for everyone if they try to close the banks. Also, the knowledge about cryptocurrency is not known by all people, so it is hard to do a quick change.