I don't think we nessessarily need banks, I think all we really need is time. The more efficient monetary system will win if that's what the market want's. It just need's time and patience :)
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I don't think we nessessarily need banks, I think all we really need is time. The more efficient monetary system will win if that's what the market want's. It just need's time and patience :)
Of course it will all come to that in the end.
Ya that’s it! I see so many people running around panicking about all these problems like “use case” lol “we need to spend our bitcoin” no more hodl!!! It makes me laugh these ppl think that’s going to make difference. It just needs time to scale and humans to adapt. Stability and less volatility will come as the market grows in to the trillions and with that crypto will slowly change from holding as an investment to using it as currency.
It’s as clear as day for the patient minds.
You made a good point. There are no shortcuts. Bitcoin was supposed to be a digital form of cash used for your day-to-day transactions but instead it turned into an investment tool and the 'use' aspect somewhat got left behind. And I think it hurt Bitcoin.
While time and adaptation is important, we also need to have the necessary tools available when the time is right.
People are having a hard time understanding that it’s ok if bitcoin isn’t being used as cash right now, it was always a known fact that it would have go through this speculative phase before it builds up a big enough market cap to stabilize the volatility. Just the natural process it must go through! There is no way around it. If there is money to be made from a limited supply people will hoard it! It’s just a FACT of life. But that’s ok, it doesn’t mean bitcoin is broken and not living up to satoshis vision, that’s the wrong perspective. I am in full support of building these much needed payment tools but people need to stop the use case digital cash vs investment debate. Both are vital for the future of crypto and will coexist together as a natural process.
I think those debates are no longer valid. As Bitcoin will remain an investment tool. There are more faster, cheaper, and scalable blockchains that can fulfill the gap for a digital cash. But I think we are not ready for that. As you mentioned earlier, we need Trillions to bring the risk averse merchants to accept Crypto. The volatility factor is probably the scariest one for them. Tx
The whole point in being in crypto is to NOT use existing banking systems. Banks report (actively or passively) to Governments and spy agencies.
Further, digital information can be and is shared from UK to Europe, USA etc. Forget token privacy laws!
This means more tax of citizens (stealing their money) and
unauthorised use thereof eg making war.
This means surveillance of a persons every transaction......
Of course, most blockchain transactions are public; There are some however, that are more private as in Monero, PIVIX, Verge etc.
Sure give your KYC data to Cryptov8 and the FCA.... but understand the impications......
We need to be able to exchange CASH for crypto without any Government taxation or tracking.
As much as I hate the banks and there agenda I think crypto will have to coexist with them for a long time before they are phased out and we use only decentralized exchanges. I am a big supporter of privacy coins as well and will continue to invest in them :)
We have something in common. I think exactly the same. I even left my Bank job years ago when I found Bitcoin for more or less similar reasons.
I like it
Your points really resonates with me but what are you proposing? I mean how are you going to be able to do this.
The localbitcoin and peer-to-peer solution looks like a viable one by it lacks structure, feasibility and many other problems attached. I believe the general user care less about KYC. That data is already with the governments and institutions, you are just sharing it one more time. I totally understand your points, but I guess we are not yet ready for that.
you rightly said that until and unless we be able to exchange cash for crypto and that too without any government taxation or tracking..the real idea behind using cryptocurrencies is not fulfilled. Moreover, the chances of governments allowing cryptos through banks are almost negligible.
me upvote you and you upvote me please one upvote donate
@cyberblock The monetory system need to be very efficient and surely banks need to incorporate blockchain technology or else they will vanish soon!!!
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