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‘Don’t be alarmed by bitcoin’s drop – we’ve been here before’

AltCoinTrader’s Richard da Sousa believes this is a moderate correction compared with past crashes.

Richard da Sousa, founder of crypto exchange AltCoinTrader, has seen far worse crashes in his time as a bitcoin investor. This is a moderate correction compared with past crashes, he says.

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CRypto is here to stay!

The Banks are dead!

Yes…Until they hack you and steal all your coins. The bubble might be coming down.

A response from someone who obviously owns crypto

If banks are dead, who’s going to give you a bond to buy a home, or a vehicle loan

If banks are dead, what happens to the debt which lapses after 30 years?

If banks are dead and crypto is here to stay, who’s going to tell the masses many of whom live in the mountainous regions of our country that their social grant is no more!

From now on they will receive social grants in crypto.. Really..?Their cell phones can only receive and make calls, and only when there’s a signal

Crypto is here agreed, but banks being dead?

Not by a long shot..If anything in future, they will control the flow, thats just the way it’s going to be..Like it or not

I think both are required. To get a loan, go to the bank. If you want to grow your cash, use Crypto.

Agree banks are not at risk at the moment but DeFi is booming; we are already using our Crypto as collateral to raise funds to buy more Crypto and, of course, we use Crypto cards to pay our monthly bills (no bank required).

DeFi will soon have loans backed by real world assets like Tile Deeds/Vehicle Registration Documents locked into smart contracts until Crypto home/vehicle loans are settled. Unsecured Crypto loans based of social profiles also coming. So any financing a bank does will soon be available in DeFi.

Regarding grants, the United Nation’s World Food Programme piloted an ETH grant program to Syrian refugees that went off extremely well getting funds straight to beneficiaries & cutting out the hoards of middlemen in the process. In time, all grants will be decentralised directly to beneficiaries cutting out the cost of banks & middlemen.

So, will banks become extinct?

Unless they adapt to the New World of Finance, my guess is it would be very difficult for them to stay in business.

The world’s biggest banks have realised this and are adapting to Blockchain at warp speed.

End of comments.

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