Could crypto survive without the validation and interest of Govt’s and big banks?

If yes, please tell me what it would take?

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Yes, I think so. It has survived thus far. How ever it will take acceptance of governments and big banks for crypto to truly go mainstream. Either the status quo collapses due to an economic failure (fiat currencies collapsing for example) or they endorse crypto and try to get ahead of it by regulating it.

Thanks Ian

I agree for the most part, I just have a very difficult time believing the big banks (players) will allow the crypto space to thrive without their consent or dominant stake. They’ve known about crypto for years and must have their grubby tentacles wrapped around it’s neck somehow - suffocating it until they’re ready to take advantage of it. Hard to know for sure though.

I also agree. I feel they won’t accept it for a while. They can’t really control it. It can’t benefit them how printing fake money, and fractional reserve lending does.

As more and more people see the advantages of using a decentralized borderless currency, governments will have to get on board or try to stop it, which is near impossible.

The more it grows the more they have to come up with something appealing, or a worthwhile alternative to Crypto. Possibly creating a universal basic income (UBI) and have it go to their own type of digital wallet is one tactic.

Only time will tell. Hodl on!

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I do believe it will survive . But the politics of each country is very important . Here , for example , in my native country , the National Bank is very rigid regarding crypto . All banks are aligned with the National Bank policy . It’s very hard to invest in crypto here . And I’m only buying monthly a small percent of my salary . Regards , Virgil .

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Yeah it will survive. However, I don’t believe it will thrive. All that moon talk most likely will not happen without the regulatory support.

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@ [cashdee99] Exactly . But it’s important how this regulatory support would be . If it’s only for big players , like banks and governments and small players like me are charged with fees and regulations , it’s a problem .

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I agree. It’s interesting to consider that what is suppose to be a decentralized market, is still greatly dependent on regulations from central entities. Kind of backwards, right?

Makes me convinced they want and need this market to thrive, just want to make sure they control the value flows and can take their haircut.

Yes, but depends of the empowerment of the citizens.

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Govt is already interested in cryptos because we all know what FED is doing right now :slight_smile: Printing money from thin air. Uber destroyed cabs, Blockchain will destroy banks. One day for sure may be 5 years or may be 20 years for sure.

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@crypto2 I’m not sure banks are going anywhere. I do think crypto will disrupt the banking industry, but custody and security (insurance) are what people want. People want guarantees, and until FI products and serviced can offer the same insurances, they’ll be around.

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Banks are already working on blockchain technology. Once banks adopts it and brings to the main stream, people will realize.

Blockchain is already the winner, indirectly, it means crypto currencies are winners

Crypto doesn’t needs banks. But bank needs crypto :raised_hands::

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