Quote from: posi on March 16, 2023, 10:24:20 AM

Quote from: FireDAO CY on March 16, 2023, 01:34:52 AM

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

It is also a topic that has been discussed a lot in the market in recent days, but so far, there has been no significant change. But I think the collapse of banks in succession is not a positive signal, it will make the world economy more complex, and we will be affected. I don't expect that to happen or spread. Even if people switch to bitcoin, we will still need a bank, the bank is a bridge for us to exchange bitcoin and fiat easily. We will still need the bank in many situations.

I think it's good to work both way. I believe it's impossible to be 100% decentralized, but at least now we have extra option.

Quote from: DevFile90 on March 16, 2023, 03:50:58 PM

The depression stage is just about to get set, with banks going bankrupt because of mismanagement of funds, I. Believe that crypto will still take one last huge correction before new money start coming into crypto again, I have stopped buying anything right now even though I still have good altcoins I plan to accumulate before the market gets bullish.

Bank system that already existed for centuries and it collapsed in front of the world is definitely very concerning. Crypto definitely will gain advantage from here and we can see more people are considering crypto now.

Quote from: Apocollapse on Today at 03:59:59 AM

Quote from: FireDAO CY on March 16, 2023, 01:34:52 AM

Recently bank like Credit Suisse and Silicon Valley bank are collapsing. People are switching their money to bitcoin. Is it the sign that more people are no longer trusting the bank and are moving toward to decentralized world?

Where do you read this? do you live in Switzerland (Credit Suisse) or United States (Silicon Valley Bank) so you know people are tend to switch their money to Bitcoin? If you're just make an assumption if bank collapsed will make them to choose Bitcoin, you're wrong because banks in United States and Switzerland is really a lot, not only the collapsed one.

There's will be no change, except the whole banks are collapsed and make people lose their trust with banks.

I did read alot of comments about what I mentioned but it doesn't mean everyone of them are doing that. Such a huge bank collapsed definitely will gain concern and people will rethink again is the system still perfect to keep our money in it? I'm here to seek for more deeper discussion, but ya, thanks for your comment anyway.