Quote from: posi on September 14, 2023, 05:14:45 AM

Quote from: HONDACD125 on September 14, 2023, 03:08:13 AM

snip~

Many people still prefer to keep their assets in crypto currencies instead of banks. Since their assets may be at risk of devaluation in banks, they are likely to get good returns on crypto currencies, especially Bitcoin. If people invest more and more. Assets in crypto currencies or Bitcoin instead of banks, this will also have a huge impact on banks. However, banks have their importance and its importance cannot be denied. However, I don't think the relationship between banks and crypt currencies can be cordial, rather the situation between the two is more likely to remain tense, as both perceive each other's existence as a threat to themselves.

Why don't you mention the risks of investing in cryptocurrency and bitcoin? The risk of depositing money in a bank is that the money may lose value over time and the account may be frozen. The risk when investing in bitcoin is that we can lose everything we have if bitcoin suddenly crashes, or our wallet can be hacked...but in return, we have the opportunity to profit big profit instead of depositing money in the bank. Both have their pros and cons.

Apart from bitcoin, the rest of the cryptocurrencies are mostly centralized, so it may not pose a threat to banks as governments may also be looking to control cryptocurrencies, with the exception of bitcoin.

We all know that crypto currency market is a risky market. Anything can happen at any time, but Bitcoin is more reliable than other currencies, but still Bitcoin cannot be exempt from risk. It is a fact that where there is gain there is also loss and this should never be ignored. The value of Bitcoin can fall, and often the value of Bitcoin fluctuates. Also, any bad news can cause a sudden drop in the price of Bitcoin.

This happened during the crash of Luna, and the same thing happened during the crash of FTX, but we believed that Bitcoin would recover its value very soon, and the current price is in front of you how Bitcoin has recovered its value after major crashes. If we are not careful, our wallet can be hacked, but many people's bank cards i.e. ATM cards can also be hacked without being careful. Such cases are common. So be very careful with things online. The government is creating regulations to regulate and legalize cryptocurrency, but I think Bitcoin is definitely a challenge for the banking sector.