Crypto vs Banks

[Mahmoud Sabry 15]

The main advantage would be crypto’s ability to function and operate without a single point of failure which hackers could target. Another vantage point is that as most of the cryptos are based on a P2P settlement system and are fully operational around the clock on holidays and weekends.

 

The financial freedom and independence that cryptocurrencies bring to the table are very useful to businesses and individuals operating in regions wherein government entities control banks and financial institutions.

 

We could also say that using and trading crypto rises the financial awareness of the consumers as they and only they have access to the funds and full control over them. No one is going to refund any transactions or recover user accounts once the private key is lost.

[Teminali69 1081]

On 10/9/2020 at 2:22 PM, Lytran said:

I think the bank will win, because most banks are world-wide, and only a few of us know, simply because it's just a virtual currency, it's not like the real money we're holding. Whoever wants to hold a virtual currency rather than real money, I think the bank will win this case

Put it like this, paper money is not digital and we are heading into the digital world, and the money that is digital is cryptocurrency.. so you see human are built to grow and growing means advancements and digitization.

[Dg1995 31]

There is a big difference between the two media because banks collect money physically and cryptos virtually, being today the best crypto banks

[indio24 68]

On 10/6/2020 at 7:15 PM, mariag921 said:

In my opinion the banks are going to have to learn to convert with the crypto currencies, people like to have control of their money and with them it is possible, in the banks sometimes you have restrictions, both have risks but I think that the crypto is gaining more space every day

This is how my friend banks have to live with crypto, after so many financial crises many people realize how their money foams since banks are not responsible for these events, banks are always looking for an interest to win, and With cryptos you have that freedom that you are the one who handles the money and no one else.

[avgplaya 97]

On 10/15/2019 at 2:10 AM, duncun007 said:

Ever since the financial crisis 2008 people became aware that their money isnt safe at banks and so are their investments, bitcoin emerged as a savior and an alternative that might eventually replace banks, (fast-forward thru the parts where bitcoin price went from .01$ to 20k)  I've heard too many mainstream economists saying bitcoin isnt going to last and no sane government would accept it because simply we dont know who controls it.

my question is in this ongoing war between bitcoin and banks who is going to win and why?

 

Bitcoin was born out of the need to not totally depend on the banking system. For this reason, people in the world have adopted Bitcoin as a means of payment and development, efficient, clear and transparent.
We are definitely going towards the disappearance of centralist control through the Central Banks of the World. This control will gradually diminish and as more people adhere to the adoption of cryptocurrencies, the economic world will be better. What do you think?

 

😎 ❤️ 👻 🏨 📈

[khaleesi2020 115]

good afternoon,
mmm well I don't think one is mutually exclusive, rather I think they are complementary, we need banks, because beyond transactions they are fundamentally important for our economy, since they allow us to use savings to generate credit, which generate employment, greater activity , economic, and so the cycle continues.

[hackynoway 89]

I honestly do not have a crystal ball to predict the future but, taking into account where this humanity is going, which is towards absolute control of everything, even now with this Plandemic, how long and how you can breathe fresh air. ..

The cryptos are here to stay, not all but the most powerful ones, they will also eliminate fiat money or cash and thus control absolutely the entire world economy, they already control us through mobile phones, that device that they do not force us to carry. everywhere but that we take it even when we go to the bathroom.

[Enrique77 50]

On 10/15/2019 at 4:10 AM, duncun007 said:

Ever since the financial crisis 2008 people became aware that their money isnt safe at banks and so are their investments, bitcoin emerged as a savior and an alternative that might eventually replace banks, (fast-forward thru the parts where bitcoin price went from .01$ to 20k)  I've heard too many mainstream economists saying bitcoin isnt going to last and no sane government would accept it because simply we dont know who controls it.

my question is in this ongoing war between bitcoin and banks who is going to win and why?

 

I think all of us are tired of traditional banks. I believe that they drown us with loans that are unpayable in the long run, that the interest and commissions that they charge us every day exhaust us mentally. And above all we depend on them forever. But the digital revolution is beginning, and I think we are going to experience changes faster. And I also think that the fight is going to be more difficult when they want to completely ban cryptocurrency trading. But they will not achieve it, since the best thing about this world is that it is decentralized and no one can regulate it, neither its emission nor its price.

[No_Regrets 29]

However, the Bank of America is not the first to start to embrace cryptocurrencies, JPMorgan Chase, the largest bank in the USA , has accepted crypto exchanges Gemini and Coinbase as banking clients. ... Nevertheless the bank will not carry-out any cryptocurrency-based transactions.

[arnosk 228]

How much better will the world be if the financial system is replaced by one or more crypto currencies with smart contracts? But do you really think that is what the central banks want. No of course they will do everything to maintain the current financial which they are now controlling.

[eduardo767 29]

for me the crypto is easier to make withdrawals for high amounts as many times as one wants by the bank there is a limitation in my country that happens

[Braulio Eurea 720]

Cryptocurrencies and traditional banking, the banks that handle fiat money are going to be maintained for a long time, because traditional banking is legal and within the operational parameters of the governments of nations, they are the ones that manage the money fiduciary issued by central banks. Cryptocurrencies are not within the legal scheme of the countries and operate with cryptocurrencies that are generally not in the global legal framework, so traditional banking will continue to operate within the scheme of the nation state.

[yonkii 3205]

I am very new to know about all that, but what I can say is that I've read many crypto news talking about banks want to enter the cryptocurrency world and offer bank services, include crypto in their investment porfolio and offer trading too in some cases but with the crypto in their custody at all times. Maybe this war you are saying is over now? I will learn more about it and try to come back.

[Rawad933 159]

I think it is cryptocurrency that will definitely win, because it really doesn't matter who controls this, blockchain technology provides very high privacy it just shows the date of receipt of the coin and the addresses of the wallets

[Zeshan Khalid 2577]

Crypto is tax free and there is no legislation worldwide regarding it that's why if you transfer the money internationally through crypto. It can be considered as money laundering. On the other hands banks follow the instructions of Govt. that's why it is completely legal to transfer out of border through banks

[cryptovlek 2597]

There are not a lot people completely trust their banks, but they don't know a lot about crypto and they have heard about the big scams and the ponzi so everyone is afraid right now to use cryptocurrencies. With education this can change.

[Cryptonix 135]

All currencies that we use are linked to the banking system in one way or another. Such control restricts the financial freedom of each person, and cryptocurrencies and blockchain offer an Autonomous and secure space for exchanging funds. And every user, not just the "Bank", knows what operations are carried out and what amount of money exists in principle. Against this background, the advantage of cryptocurrencies is undeniable.

[JeanC 86]

In the future I think that the adoption of bitcoin is something that will happen if or if, however the banks will put their foot on it many times, they will not leave it easy but in the end they will have to accept bitcoin and find a way to work together.

[fatimateta 175]

I  think cryptocurrencies will win in this war for many reasons for example the banking system themselves have caused people to look for  other financial solutions when this solutions have many features like Decentralization , privacy and regulation .

[Onden 2098]

People want to keep their money safely and without reducing its value, nowadays many are aware that saving money in a bank is not safe, because at any time a crisis can occur and we can lose the value of the money we save in the bank. Nobody knows who is the winner of the Battle between the bank and Bitcoin, because in the future we will see the winner.

[Alex9876r 1408]

Bitcoin has been subjected to fights and pressures as long as it is decentralized, as governments do not allow decentralization or the absence of something monitored, but they can impose restrictions or some kind of conditions on the platforms to track transmissions and this is something that exists, but they cannot ignore the amount of its use or its importance, and because they simply close their eyes to development and the future

[gest49 84]

My opinion on this issue is that over time, banks seeing that cryptos are being used more for large amounts of money, they will make transfers of finance to the crypto world, we are in a world where if you do not adapt to innovate you stay in oblivion.  We hope that in the future bitcoin and world banks will be associated.

[kryptonick 2659]

Bitcoin is against the central bank system that is used to save the corrupt private banks from shutting down and hold the simple people hostages with the example of Lehman Brothers. It was an example because it shown all the world how you can lose all your deposits when the government will not help a bank survive. Of course the government will pay to save the bank with aditional taxation. So we all paid the banks and their party and all their rich life styles of their managers and financial advisors grabbing bonuses.

Edited October 12, 2020 by kryptonick

[botukk1234 38]

On 15.10.2019 at 10:10, duncun007 said:

Ever since the financial crisis 2008 people became aware that their money isnt safe at banks and so are their investments, bitcoin emerged as a savior and an alternative that might eventually replace banks, (fast-forward thru the parts where bitcoin price went from .01$ to 20k)  I've heard too many mainstream economists saying bitcoin isnt going to last and no sane government would accept it because simply we dont know who controls it.

my question is in this ongoing war between bitcoin and banks who is going to win and why?

 

I think that Bitcoin will, of course, win this war, since it has been proving this to us for a long time. Not only can people make money on it, if they can, of course, but also be sure that many factors will not let Bitcoin fall so much that your pocket will suffer losses. Good luck to all!

[Razan alikac 1899]

Banks cannot beat Bitcoin because Bitcoin basically does not go to war with the banks but rather works as it was created, in a decentralized manner and code that does not care about skeptics or banks.