My problem is with the banks. They almost always earn profit and when things go bad, they are the first to be bailed out with our tax dollars. While normal citizens are stuck holding the bags as they either pay for it in taxes and may be stuck holding the huge amount as debt. With crypto, we can cut out the banks as the middle-man and do direct transparent transactions. Thus the less control the banks and governments have, the better it is for us.
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People fail to realize the banks, for the most part, are getting crushed. They operate in a physical world, with branches. They are shutting them down as quickly as they can since they are not needed. We saw 20 years of fintech take its toll on the banking system. Now, with crypto, they face another attack.
It is all adding up to their demise. Some will survive, most will collapse like newspapers did.
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