Do you think Crypto firm wanted to Overthrow Banks?

[Bobcrypto]

Anyone who has been following certain developments between Cryptocurrency and Banks might have observed that there might have been some cold war existed on both sector for many years still counting. Actually, there were certain companies who were pursuing to establish a crypto banking system but there seems to be some banking sector's resistance, unfortunately, this idea look unrealistic due to the internal registration setbacks.
Now, the struggle for stable coins issuer are now hovering on legislation/registrations approvals on different regions of the world and has once again ignited a stronger internal war between crypto companies and the banks.

Take a details look here: https://cointelegraph.com/magazine/crypto-banks-stablecoin-fight/

Do you think Crypto firm wanted to Overthrow Banks? i think that the banking sector are behind some progress hindrances against crypto firms.

[bitterguy28]

Do you think Crypto firm wanted to Overthrow Banks?

i would expect them so but then to overthrow banks they would need to cater to those who strictly use banks and fiat or maybe it is just not banks they are looking to overthrow but as well as fiat but how realistic is that? to overthrow fiat would mean a lot of things but i would not put it past crypto leaders to think about this

i think that the banking sector are behind some progress hindrances against crypto firms.

yes this is why we are seeing the birth of cbdcs they are trying to implement the blockchain technology at least to catch up with the crypto firms these days

[TomPluz]

I would like to think that this war is actually so hot and not cold...as both are actually fighting for almost the same market and both are encroaching in each other territories. When you are in a competition, naturally you would aim for domination and possible decimation of your competitors but then we know that reality can be quite different. This competition will not mean that one will be taken out by the other...this can actually mean that people now have different, better choices. The ultimate winner will be the consuming public. While crypto firms are getting into the market dominated by banks, there is a big chance now that banks will be using their might, influence and resources to offer something similar to what these crypto firms are offering. So as for me, let the hot war begins and I am just sitting here in the sideline enjoying the show. 

[Asiska02]

Do you think Crypto firm wanted to Overthrow Banks? i think that the banking sector are behind some progress hindrances against crypto firms.

Your second option is actually what it is. Even Satoshi that invested bitcoin did so to serve as alternative to the banking system which is centralized while bitcoin was decentralized and open source. Banks saw this as competition and since the government has all banks under his own watch through the central bank controlled by them, it then become difficult for them to accept bitcoin as term it as a dangerous currency that will affect their own fiat currencies and way of banking. All these are because the whole bitcoin stuff is decentralized and they won’t have control over it. Crypto is not here to fight banks but to exist as their own entity without them interfering into each other’s business.

[Stompix]

Actually, there were certain companies who were pursuing to establish a crypto banking system

Satoshi spinning at 10 000 RPM in his grave
So from being your own bank, not your keys not your coins we now want crypto banks?
Why? What would be the purpose of it, why would anyone use them at all? Why and why again and over again?
So you can get your account lcoekd, your coinsconfiscated, your coins stolen?

[Faisal2202]

Do you think Crypto firm wanted to Overthrow Banks? i think that the banking sector are behind some progress hindrances against crypto firms.

I don't understand how this is a war anymore. I mean, people love crypto stablecoins, they also love banks, but banks don't like these stablecoins, and now they have been left with no choice but they also have to adopt them, like some already did according to the magazine you provided.

These two acts actually made the stablecoin issuers comply with banks to have a bank charter, which I think can make banks some money too, That's why I think an agreement has already been made, so it is not a war anymore.

[Zaguru12]

Do you think Crypto firm wanted to Overthrow Banks? i think that the banking sector are behind some progress hindrances against crypto firms.

I will make my opinion base on bitcoin, cryptocurrency is never here to replace bitcoin but it is rather here to be an alternative to banks and fiat. Stablecoin are pegged with fiat currency so I don’t see the reason why it is said to come and replace it. Rather it is the banks that are scared of stablecoin replacing them and spreading this stereotype just because they know that if stablecoins get the adoption they deserve it will relegate the use of fiat or banks

[taufik123]

Now it is only necessary to see how crypto develops in society at large, whether crypto is more dominant or vice versa.
Banks are still needed by most people and crypto is an optional digital currency that is also needed for those who already understand how cryptocurrencies, especially Bitcoin, work.

Right now banks are still very dominating and still very much needed, but the next few years may be different, but it also depends on how crypto will develop, as some developing countries still do not fully support crypto.

[yhiaali3]

Cryptocurrency companies won't be able to easily overthrow banks. Banks have an established, interconnected system across the world, and it's never easy to displace them in the near term. However, I hope they can do so in the long term..

Currently, I see almost the opposite: governments that support banks are seeking to contain cryptocurrencies by merging them with banks. This merger, as it stands, is not in the best interest of the crypto community, as it poses a significant risk to decentralization and privacy.

[zeeMN]

Still banks will keep resisting cryptocurrencies as they are direct assets competing with fiat which is bad for their existence. Moreover, banks don't only act in their bets interests, it's the government pulling the strings and all they do is follow instructions. This bank crypto fight is far from over.

[Bobcrypto]

Do you think Crypto firm wanted to Overthrow Banks? i think that the banking sector are behind some progress hindrances against crypto firms.

I don't understand how this is a war anymore. I mean, people love crypto stablecoins, they also love banks, but banks don't like these stablecoins, and now they have been left with no choice but they also have to adopt them, like some already did according to the magazine you provided.

These two acts actually made the stablecoin issuers comply with banks to have a bank charter, which I think can make banks some money too, That's why I think an agreement has already been made, so it is not a war anymore.

You just have to know, just like i said, it is actually a Cold war,  but some members had considered this it a hot war, especially the legislation on stable coins issuers, whichever way, obviously, the banking knows the huge positive impact of Bitcoin and the blockchain technology, hence they feared a complete crypto dominance which is may happen in near future.
I think that this is just the  beginning of this struggle between crypto firms and the banking sector. The banking sector is already feeling the heat in my opinion.

[Z-tight]

What is a crypto banking system, BTC and crypto is different from the banking system, it should be not your keys, not your coins, and not us trying to go back to the custodial system.

Crypto firms cannot overthrow banks, people would always store their fiat in the bank, but for people who still want to use crypto like fiat and store it in a custodial platform, maybe they should not use crypto.

[SamReomo]

I believe the best way to keep crypto world decentralized is to stay away from crypto banks as Satoshi created Bitcoin to free everyone from the centralized system and relying on centralized banks isn't going to be helpful when it comes to privacy. Stay away from crypto firms just be your own boss and store your crypto in your own personal wallets where you own the keys not a third party.

[Lucius]

Actually, there were certain companies who were pursuing to establish a crypto banking system

Satoshi spinning at 10 000 RPM in his grave
So from being your own bank, not your keys not your coins we now want crypto banks?
Why? What would be the purpose of it, why would anyone use them at all? Why and why again and over again?
So you can get your account lcoekd, your coinsconfiscated, your coins stolen?

This idea is not something that has taken root among people, because most do not want the responsibility that comes with it. In addition, Bitcoin and decentralization are on one side, most altcoins are on the opposite side - not to mention stablecoins, which are mostly nothing but an even worse version of fiat currencies that can be seized regardless of which wallet they are in.

I don't know what kind of war we're talking about here, but the EU literally "killed" stablecoins and privacy coins in one fell swoop - so this war has only one winner.

[Z-tight]

Stay away from crypto firms just be your own boss and store your crypto in your own personal wallets where you own the keys not a third party.

It is now becoming a cliche when we tell people: 'not your keys, not your coins', but the same people who do not listen are the first to cry scam when they lose their funds to a failed or bankrupt custodial service. I know that many people are 'scared' of being their own bank, so maybe they should first of all kill that fear before they use BTC.