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Crypto owners trying to have it both ways with banks

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by COINS NEWS 115 Views

I hate to be that guy but I've seen several posts recently bemoaning banks for shying away from dealing with crypto businesses and clients.

Listen, it's hypocritical for crypto owners to complain about traditional banks being hesitant in dealing with crypto because the very idea behind crypto currencies is to disrupt or replace traditional banking systems. If crypto advocates want to challenge the established financial system, they cannot simultaneously expect banks to embrace the disruptive technologyβ€”that's a suicide pact.

Banks have legitimate concerns about crypto's volatility, security, and regulatory compliance. It's silly for coin holders to demand that banks take on these risks and costs without also acknowledging the risks and challenges that come with crypto ownership and the existential threat that the success of crypto poses to banks. It feels like people expect to benefit from the technology, get the benefits of early stage disruption, but none of the consequences of digital assets.

submitted by /u/NerdFarming
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