Quote from: Rengga Jati on March 29, 2023, 11:55:17 PM

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?

Some banks may indeed experience a collapse. It is undeniable that there are large banks in my country that also experience the same thing. And this really hurts a lot of people. But that doesn't mean banks are collapsing. The proof is that there are still many large banks that continue to survive and develop with various functions that suit current needs, support e-money, and provide effective services without having to go to the bank. But indeed, there are some disadvantages to using the bank itself.
But my point is, the banks will continue to survive anyway, especially state-owned banks, so it will be difficult for cryptocurrencies to take over or the like. Actually, trusting a bank is also like trusting exchanges, not really 100% because banks sometimes also make some faults that lose their user money, although not all of them.

The people behind the banks have played really well and they have made the banking industry key to keep the current status quo, so governments regardless of whether they want or not will have to keep rescuing them despite the protests of their citizens, so banks have no incentive at all to be responsible when they can be rescued at any time and for any reason, so it is unlikely that decentralization will take over the world even if banks were to collapse.