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?

I think people are bitcoin are just being more cautious and aware of how they will take care of their assets so they seek alternatives to traditional banks. I don't think it is because they don't trust bank anymore. Many people still rely on traditional financial institutions for their banking needs because tho cryptocurrencies offer potential benefits, they also come with their own risks and challenges like volatility, lack of regulation, and susceptibility to fraud.

Quote from: Dr.Osh on March 31, 2023, 03:38:12 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?

I think if the banks fall, not everyone will switch to bitcoin, because there are still very many people who don't know how to access bitcoin, or maybe there are also many who still don't believe in bitcoin. I think the article you read only votes for crypto users. Also, if the banks do crash, I think people will probably be inclined to go for gold, silver, or some other thing that might be really valuable and can be resold later.
However, the public's trust in banks is currently very large. I think people will still be waiting for an alternative to that, and the government is unlikely to just see this happen. they will definitely look for alternatives to remedy this situation.

Yeah. I don't think the government will allow crypto to widespread in financial institutions without getting involved. But they cannot prevent people from looking for alternatives especially those that started early with bitcoin. The trend towards decentralization is complex and people's trust in traditional financial institutions can be influenced by a variety of factors.