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Banks Fighting the Future

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by COINS NEWS 113 Views

So it seems with recent events of banks collapsing, the SEC sending a letter of notice to Coinbase, and now banking institutions putting Crypto bans into effect; traditional banking institutions (and the politicians they have in their corners) are now fighting tooth and nail to try and kill crypto in a bid to maintain their status-quo. Bitcoin was originally proposed and made as a way to work around these fundamentally flawed financial institutions, and now those very same institutions are trying to stop us and Crypto in it's tracks.

This is what it boils down to, "Money equals power." If traditional banks continue to wield the majority of wealth, or at least continue to hold onto those assets for those who deposit with them, those banks and their depositors will continue to hold the majority of power. Crypto is a threat to that power system, and they don't like that. So what does this mean for us?

Well it means we'll probably see more actions taken against Crypto, be it outright bans or legislature that seeks to limit the potential impact that Crypto has on the traditional financial markets, and by extension, the systems of power. Banks want to keep their power, and they will do everything they can to hold onto it, but there's another way. If banks can be persuaded to see the benefit that Crypto can offer to not only ordinary people but to themselves, then we may see the tide change towards adoption versus rejection.

Now mind you, I'm just a regular guy who's been in this market for a minute now and I won't claim to know it all, but this is just the way I see it from a power and systems perspective. I feel banks are just fighting to slow down what I personally feel is an inevitable flip in power and financial systems, but again, just my two cents. What's your guys take on all this though? Do you see this situation in a different perspective than me or do you feel the same?

TLDR: Money equals power. Banks/Wealthy have the most money and therefore the most power. Banks trying to stop crypto through SEC and legal actions. Banks can take a stance of adoption or continued rejection. What's your perspective on this?

submitted by /u/Kill_It_With_Coffee
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