Quote from: Abiky on May 22, 2020, 06:34:46 PM

With the world's economy collapsing, people are looking for alternative safe-haven assets to use in times of turmoil. Interest in crypto has sparked a lot ever since the stock market went on a decline. If people decide to use crypto, precious metals, and physical cash, will it be possible to live a normal life without a bank?

In my case, I'd be willing to exit the banking system in order to have true sovereignty over my money. After all, that's what crypto is all about. If you could live your normal life without the need to ever interact with a bank (having a bank account to make transactions, etc), it'll be a blast. With the world shifting towards the online realm for e-commerce, virtual meetings, and more, it seems likely that people will be using decentralized money more thoroughly. There are still people using credit/debit cards, but that may change soon as Fiat becomes hyper-inflated.

What are your thoughts? Huh

So far, the use of cryptocurrencies as a full-fledged, high-quality alternative to fiat and the banking system looks like a transition to payment with cowrie shells or other monetary surrogates. The reason is trivial - decentralization and some technological problems (for example, erroneous sending of tokens to a non-existent address) do not allow the implementation of a full-fledged, self-sufficient financial system on today's cryptocurrencies