Re: Will banks go on extinction if they do not adopt cryptocurrencies?
Hahaha...This is deep, but only the wise would know.
Crypto here and there, to the extent that people now mistake it for the main economy of the world. I don't know how people are this gullible. Bank is a major part of the world economy, cryptocurrency can't hold that position other than you enjoy them for private/decentralised payments and investment, like any other asset.
Crypto here and there, to the extent that people now mistake it for the main economy of the world. I don't know how people are this gullible. Bank is a major part of the world economy, cryptocurrency can't hold that position other than you enjoy them for private/decentralised payments and investment, like any other asset.
Didn't Satoshi want Bitcoin to replace banks in the first place? I mean, he created Bitcoin as an answer to banks' mishandling of the economy (Global Financial Crisis of 2008). The fact that banks are still relevant these days is because of the looming centralization in the crypto industry. Bitcoin may be decentralized, but the market itself is NOT. If we look at the metrics/stats, we'll notice that centralized exchanges are the dominant force of the crypto market. The vast majority of BTC holders are none other than CEXs, whales, governments, and now, institutional investors. How can BTC replace banks this way? It's already too late for that.
With the media spreading propaganda that Bitcoin is the "next digital Gold", we might as well forget about banks disappearing from the face of the Earth. Besides, governments are still relevant. They need banks to help keep Fiat (national currencies) in circulation. Without central banks (nor retail banks), there won't be any Fiat, resulting in true freedom for the people. Banks' disappearance won't happen now, or in another century. At least, we can use Bitcoin as an alternative to banks. As long as it stays decentralized, nothing should be able to stop it.
