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After almost two decades my guess is we can start to look back at the whole cryptocurrency thing a bit more clearly. > but cryptocurrency makes traditional ban
by sunshine-o 1y ago
After almost two decades my guess is we can start to look back at the whole cryptocurrency thing a bit more clearly.
> but cryptocurrency makes traditional banking obsolete.
Most banks we interact with were obsolete before crypto.
When working there I had a lot of "why" questions until someone explained me "You need to think about banks basically as an extension of the state".
From a tech POV it is exactly what we usually hear: there is a ~50 year old legacy core banking system that nobody really understand but keep working almost miraculously. Everything else beyond that is trash.
Cryptocurrencies pop up in a weird way and obliviously did not delivered since.
In 2025, it is still hard and costly to transact on Bitcoin or Ethereum. If it wasn't govs would have unleashed the fury on crypto.
> Or should have.
Yes our banking system is failing society and preventing progress since at least 2008.
Crypto was our chance to move beyond but it didn't happen. Bitcoin price is probably just reflect the fact that our banking system is at risk of collapsing any time soon and crypto might be (part of) the solution.
> I don't care how many times I am violently buried on this site for mentioning the word
Yes crypto shouldn't be taboo on HN. It is a potential solution for what most people need urgently (more than AI) so it should be discussed.