Quote from: Blitzboy on June 10, 2024, 01:06:54 PM

Quote from: legendbtc on June 10, 2024, 12:51:51 PM

Quote from: redsun114 on June 10, 2024, 07:49:42 AM

It is also possible that in the future people will stop using bank accounts altogether and start keeping all their assets in cryptocurrency wallets because they don't have to pay taxes to the government or anyone else to keep their assets here or even if they have to, they will at least have decentralization.

As cryptocurrencies become more popular, people tend to gravitate more towards cryptocurrency wallets and less towards banks, which can lead to a cash crunch in banks. This can also be a reason for banks to dislike cryptocurrencies.

As long as fiat remains the world's primary means of payment and governments do not legalize bitcoin or any other cryptocurrency as currency, we will still need banks and fiat. Even if you get tired of the devaluation of fiat currencies and convert all your assets to crypto, but then you will still have to convert back to fiat currency for daily needs.

Even if the cryptocurrency trend becomes more popular, it will never cause banks to weaken or disappear. The role of banks is very important to the national economy, it is considered the backbone of any economy. You probably won't need a bank account to save money, but if you need to borrow money, where will you borrow money if you don't go to the bank? Where will you get fiat to pay your daily bills if you don't go to the bank? So banking is very important and I don't think anyone can live without a bank account.

All of this "crypto versus banks" argument is a crock of garbage. Why not have both? Blockchain is amazing. It is not under government control, speedy, and safe. Still, banks are vital. They provide services crypto cannot, they are safe and under control. Consider it as if crypto is a sleek sports car ideal for a brief escape. Good for a family road trip, banks are more like a luxury SUV. You wouldnt race an SUV on a track and you wouldnt use a sports car to load logs.

Thus, crypto and banks should be collaborating rather than battling. Every one of them has advantages; together, we can design a financial system that is stronger, more effective, and more reachable to everyone. Folks, thats a win-win situation.

Yes, both are important and have their own use cases. If everyone had the same friendly views on things as you do, there wouldn't be any arguments. What you said I completely agree with because that's what I want to say, there will be a more perfect world when cryptocurrencies and banks coexist and develop. But many people don't want that to happen, many people spread that banks are against cryptocurrencies, or that bitcoin was created to replace the current monetary system...many people want to create this war. I don't know what their real intentions are but it's clear that creating these misunderstandings has never benefited crypto or us.