Quote from: tbct_mt2 on September 12, 2023, 01:49:35 PM

Quote from: sunsilk on September 12, 2023, 01:32:19 PM

It was a concern that many have thought that crypto will certainly be able to defeat the banks. But we're getting the picture blurry these days as these banks are also adopting to changes.

They're just doing the innovation through digital payments and currencies that they govern.

Bitcoin and cryptocurrency won't defeat or kill central banks, commercial banks and fiat currencies or CBDCs. Bitcoin can outperform fiat currencies, CBDCs in purchasing power over time but by beating, killing I meant Bitcoin will get rid of fiat currencies and CBDCs. It simply won't happen in future and it is kind of over fear.

If a Bitcoin maximalist, investor hope it will happen, it is unrealistic hope. If globally, there are governments, it will not happen.

Yeah, that won't happen. Before, many have believed that and even I but as time passes, we're getting the idea that it's exaggerated.

Quote from: Don Pedro Dinero on September 12, 2023, 04:54:18 PM

Quote from: sunsilk on September 12, 2023, 01:32:19 PM

It was a concern that many have thought that crypto will certainly be able to defeat the banks. But we're getting the picture blurry these days as these banks are also adopting to changes.

Well, Satoshi's idea was to create

Quote

<...> an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party

This eliminates the idea of central banks, and all other banks, as they are third parties. Another thing is that with the development of the bitcoin industry, mainly centralised exchanges, which is where most retail investors buy their bitcoins, this idea seems like a nice utopia today, but we cannot see it as feasible.

So, to answer the question of the thread, yes and no. Bitcoin was conceived as the opposite, but this is not necessarily the case, as is unfortunately the case.

Yup, that's it.

We may want to have the idea to be firm and get into the world someday. But it just can't and the matter of fact is that it's good as it is another entity where people can use both of it but it can surely outperform those.