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Cryptocurrency Goal Should Be To Eliminate Banks by taskmaster4450

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· @taskmaster4450 ·
$60.53
Cryptocurrency Goal Should Be To Eliminate Banks
We discuss **banking** a lot.  There is a good reason for it.  This is the industry, both domestic and internationally, that runs everything.  Bankers are more powerful than governments.  They also tend to be exempt from prosecution.  When it comes to enslaving of humanity, few are as efficient at this as bankers.

This is not a hit piece on the banking industry.  Instead, this is meant to help us to understand how things operate and why it is imperative for us to create a completely new system.

**Bankers run the world.**

I am sure this is something most heard in their lives.  The reason this is so stems from the fact they are at the heart of all financial matters.  Over the decades, in most countries, they established a strong system which heavily favors them.  Through their lobbying (bribery?) efforts, laws were constructed which puts them at the heart of much that is done.  Of course, for this "service" they take a cut.

Banks are the epitome of "intermediaries".  When it comes to middlemen, they take the cake.  A banking institution is going to be involved in most anything that takes place.  Think about that for a second.  All that goes on, a bank somewhere is getting a cut.  Naturally, the term bank is being used to cover their financial brethren.

Challenging the banks is a vital part of pushing humanity down the **path of freedom**.

<center>![image.png](https://images.hive.blog/DQmSBmdmAmzVN6BimVsPBK83ndSiivaJPa3VbjMF7qqWEXf/image.png)
[Source](https://www.moneycrashers.com/wp-content/uploads/2012/04/reasons-change-banks.jpg)</center>

# Making Banks Into Newspapers

The Internet did a job on the information purveyors.  There was a time where the newspapers had a lot of power in the United States (and around the world).  This all changed with the introduction of this new medium.

While we still see newspapers around a number of decades later, they do not wield the same influence they once did.  To start, there are a lot less of them.  Throughout the early 2000s, the industry consolidated while witnessing a large number of bankruptcies.  The ones that have followings today are most due to demographics.  The older generations still get their "news" from those sources.  Newer generations do not care.

We will likely see thin take place with the banking industry.  We know that cryptocurrency is not exactly filled with Boomers.  In fact, Gen X is not the target market either.  It is really the Millennial age bracket that starts to embrace this.  After all, they were the ones who grew up with the Internet, hence accepting **Internet money** is not a big leap.

This means that we are going to have banks for a number of years to come.  They are not going to disappear.  While there are still the large number of Boomers still around, banks will have customers.  The same is true for much of the **financial industry**.

That said, the goal is to eliminate banks and all the associated control.  For this to happen, we should target the different aspects of banking that exist.  It is going to be a war of attrition.  Over time, their foundation will start to crumble.

Of course, we can expect blowback.  Banks have a lot of control in the national governments.  Much of what we see taking place is, likely, at the bequest of the banking and financial sectors.  We have to be prepared for this.

# Building A Rock Solid Foundation

We see a great deal of attention paid to Musk and Twitter.  Suddenly, the national conversation around free speech is taking place.  While this is an important matter, it is dwarfed by what the **international banking system** does.  People need to realize when they have money in the bank, it is not theirs.  The bank can do with it as it sees fit.

For example, many banks will not allow customers to buy **cryptocurrency**.  Here are adults who earned their money legally and they are being denied the right to buy something that is not deemed illegal.  Why?  Simply because the bank says so.

Here is where we need to ensure what we build is outside the reach of any government or central bank.  As we discuss regularly, there is a model to follow set up, conveniently, the international banking system.  They operated for decades outside the reach of governments.  This is what allows them to take them over.

Expansion is crucial.  The ability to **make our own money** is something the bankers did.  In fact, even the major currencies are in the hands of the commercial banking industry.  It is they who determine whether the money supply expands or contracts.  Naturally, this is the part of banking most understand.  When we get into the international system, the sky is the limit in terms of what they can generate.

When we look at a blockchain like Hive, we have to understand the potential.  We are effectively operating outside the system.  This cannot be stressed enough.  The on-chain stablecoin, **Hive Backed Dollar**, is also following this path.  It is a very powerful starting point.

Ultimately, tens of trillions of dollars will be needed to overtake the power of the bankers.  Here again, this will not happen overnight.  It took decades for the banking system to get where it is.  We are likely to see decades required to render it impotent.

# Tokenization Of Everything

One of the biggest concepts we have to embrace is the **tokenization of everything**.  It is the route to distribution.  Money is not wealth but it does allow for the generation of it.  This is how we need to approach it.

The game starts with getting the money distributed.  After that, innovation and entrepreneurship takes over with people building.  Over time, this increases the wealth available that can be leverage to, you guessed it, create more wealth.  It is how economies grow.

**Crypto-Networks** should be thought of as economies.  In the digital realm, they serve the same purpose as nations. to a great degree.  The one major difference is we can operate, due to the advent of cryptocurrency, without the bankers.  There is no need for the traditional intermediaries.

We are at the point of distribution.  It is vital to get projects doling out tokens are incentive for whatever activity is applicable.  One of the biggest factors that **Hive** has going for it is a means of distributing tokens for online activities.  This is another point that cannot be overstressed.

As we tokenize everything, people will start to see their holdings grow.  When we couple this with the **network effect**, it is easy to forecast how values will grow.  This is the basis upon which we can start the process.

Of course, the infrastructure must be in place to achieve this end.  That means when people are in need of the services, we have them available.  It is why building is still the most important part.

Banking can be taken down.  We just have to understand that focusing upon banking is not where the power is.  In reality, the international system resembles a **computer network** more than a financial one.  Once we grasp that, we can follow the path of developing a better one.  

Cryptocurrency will be a success.  To ensure that, we simply have to maintain the goal of eliminating the banks.  That is the major power player in the world.

 ___
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@alonicus ·
$0.09
A good analysis. I feel the key thing we need to achieve is to prevent creeping centralisation. This is why the banks are pressuring governments to pressure exchanges to do KYC, enable records for taxation, treat crypto products as securities etc. 

Once a certain point of centralisation is achieved, it enables the banks to just take over crypto. They've got the money to just buy it (by buying all the exchanges and other key control points), since they can hand-wave as much money as they need out of thin air. 

Then they will integrate it into their systems and treat it as just another of their financial services. With the same kind of ridiculous fees, rules and restrictions attached, of course. 
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@taskmaster4450le ·
>I feel the key thing we need to achieve is to prevent creeping centralisation.

I am not sure it is creeping.

>Once a certain point of centralisation is achieved, it enables the banks to just take over crypto.

I recall people in crypto talking about when will Wall Street get involved so their tokens would moon.  I was like are you people stupid.  The answer is yes.  Wall Street has the funds to take over.

>They've got the money to just buy it (by buying all the exchanges and other key control points), since they can hand-wave as much money as they need out of thin air.

In traditional banking, they are limited by the fact they require a borrower to create money.  So they really cant just hand-wave.  In the Eurodollar system however, that is what they can do.

Of course, now so can we.  The ability to generate money out of thin air is within our power.

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@ammonite ·
Taking over exchanges will just allow them control the on/off ramps. My hopes for Crypto is that this will also become obsolete as we build out the alternative economy.
Fork the bankers. 
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@antisocialist ·
New boss, same as the old boss.

We have to have workers, we don't have to have dollars.β„’
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@blanchy ·
$0.26
My little problem with this is that the likes of CZ, George Lee, Justin Sun who run all these large cryptocurrencies. All of a sudden it becomes like a George Orwell Animal Farm type scenario where the banks are gone but these boys are the new elite class replacing the bankers. Then we are back where we started with even bigger cowboys running the show. The system has to be decentralised fully. This has to be the next step. We cannot have the Binances, FTX's or Coinbases running the world.
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@taskmaster4450le ·
There is no doubt that the technocrats are no different from any of the other fillintheblank-o-crats who went before them.  They are the same as the aristocrats of the 1800s or the industrialists of a century plus later.

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@cryptoandcoffee ·
$0.09
I hate banks with a passion as they have had it so easy for too long. The foreign exchange gets me as they charge you when you take it and then they charge you when you return it all at rates that favor themselves. This to me really pleases me if we can trim their wings slowly and eradicate them over time. My daughter had to pay staff the other week by drawing cash at the teller. The fees that she was charged for drawing her own money was ridiculous and is in my mind a form of theft as the fees were that high. 

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@taskmaster4450le ·
Nothing is without a fees.  Banks are experts are making a fortune off incremental amounts.

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@curatorcat.leo ·
It's going to take a while, but I sincerely hope that at least the amount of *power* the banks hold will decline. Will they go away, completely? I sincerely doubt it... there will always be those to cling to the way of the past, and will make motions to bring it back. 

What has long been a concern for me is that the banks will be aware that they are losing ground, so they'll start to *"cloud the issue"* by all becoming tokenized and presenting themselves to the greater world *"being with the times"* because they now have their own *(Centralized)* tokens and they will offer those to their customers on the pretext that they no offer cryptocurrency, and said customers can *"get involved in crypto, but with the safety of a bank."*

You and I won't buy that fairy tale, but a lot of people *will.*

=^..^=

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@devpress ·
$0.09
It's not the 1% that scares me but the people who work for the banks and manipulate the average people, thats what scares me about banks. Sometimes it's not the oppressor that is scary, it's the people who work for them are the scary lot that damage people. I hope that in near future AI takes over and many such banks are replaced with decentralized machines or some sort of the programs that does the heavy lifting. I wonder how this change will take place in this world.
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@taskmaster4450le ·
Well there is no doubt those in power could never carry out their intentions without the compliance of millions who obey the orders.  Look at the biggest atrocities in history and it was not carried out by one person.

Stalin didnt kill tens of millions of people.  The people following his orders did.  Stalin could not have done that himself.

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@emeka4 ·
$0.09
The future of crypto is massive because it's impact to change the world is extraordinary which it has already been showing that part. I believe with the existence of crypto it is likely going to surpass the banking system because what crypto have to offer is more than what a banking system would contribute in changing lives

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vote details (1)
@hislab ·
$0.09
For banks to debit my account takes micro seconds but to correct erroneous debit by crediting my account will take 10 working days. That is how pathetic banking system suffers humanity. 

Very soon newspapers will only be a dictionary definition, it will become obsolete. 

Banks will join and a time will come and even government will become irrelevant as people will be able to make decisions, make their money, do almost everything without fear of anyone or depending on any policy.

Cryptocurrencies is here to rule the world as an Internet currency and leofinance will be in the front line one day.


Thanks for sharing 

Cheers
πŸ‘  
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@taskmaster4450le ·
>Banks will join and a time will come and even government will become irrelevant

I agree with this.  I wrote that by 2100, the nation-state as a governance model will see as valid as the feudal-state does today.

Cryptocurrency has the ability to change a lot of things.  We are at the early stages.  Fortunately, it is the digital world which can spread like wildfire.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@taskmaster4450le/re-hislab-34fsaz)
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@jfang003 ·
$0.09
Eliminating the banks would be quite nice but I have a feeling that the mainstream public isn't ready for it. As much as it hurts us and they are profiting off of us, having a bank makes normal citizens feel safe with their money. I don't think it's really that safe and how would a CBDC work into this? I think the CBDC itself would kind of remove banks.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@jfang003/re-taskmaster4450-2abrgf)
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vote details (1)
@taskmaster4450le ·
CBDCs are a threat to the banks unless they are brought into the mix.  There are ways to change the laws so the banks can still take a cut.  

We can bet the ranch something like that will not get passed without the bankers bribing, I mean lobbying, members of Congress.

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@joetunex ·
$0.09
Getting in on cryptocurrency and realizing you are dealing with a better form of money could also help in eliminating the banks. You don't want to make some profit from crypto and go converting to fiat, that would still keep the banks in power. 

Certainly Cryptocurrency has the power to eliminate banks over time but the masses and developers have to play collective roles in achieving this. 

Banks, one of mankind's biggest enemy if not the biggest! 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@joetunex/re-taskmaster4450-39upaf)
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vote details (1)
@taskmaster4450le ·
It isnt the money that is the reason why the banks are in trouble.  Simply, it is because we develop better networks.  If you think of the banking realm as a computer network, not financial, then it starts to make more sense.

We are the advancing generation of technology.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@taskmaster4450le/re-joetunex-6ggg6i)
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@mintfinch ·
Banks killed news papers and took away people's freedom. Crypto is here to hand people there freedom. But that won't come on a silver plate. 

Targets market for crypto are not the current or the passed. But those growing with the Internet. Meaning there is need to tap I to what they like and building will cover much of this. Secondly will be to poke holes into the system that's robbing there freedom, by building products that will hand them the power to question the crumbs banks give them through building and tokenizing everything.. Nice!!

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@mintfinch/re-taskmaster4450-7pxuwo)
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@taskmaster4450le ·
>Banks killed news papers and took away people's freedom.

Banks killed the newspapers?  I am not sure how they did that.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@taskmaster4450le/re-mintfinch-5jqbdl)
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@paulmoon410 ·
Banks aren't bad. They're structure is so out of date and flawed beyond repair. Update the structure and make it open source so you know where your money is and who gets what
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@taskmaster4450le ·
Why would banks open source their structure?  They are no more going to do that than Facebook is going to.

It is their power center.

>Banks aren't bad. 

I think if you look closely at their conduct over the last 100 years, the evidence appears to  the contrary of your statement.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@taskmaster4450le/re-paulmoon410-6twyxe)
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@pele23 ·
$0.09
Well, I would be glad if it at least made the banks less powerful. And I think we are succeeding at that, slowly…
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vote details (1)
@taskmaster4450le ·
That is what it will be.  We will just keep chipping away at their power base.  It wont happen overnight and there will be no collapse.

Instead we are dealing with attrition here.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@taskmaster4450le/re-pele23-3bv2yb)
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@sepracore ·
$0.08
It is better that it happens very very slowly. Like boiling a frog. 
πŸ‘  
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@pixresteemer ·
<center>![pixresteemer_incognito_angel_mini.png](https://files.peakd.com/file/peakd-hive/pixresteemer/8h7BBw1w-pixresteemer_incognito_angel_mini.png)</center><center>Bang, I did it again... I just rehived your post!</center><center>Week 101 of my [contest](/hive-179017/@pixresteemer/the-re-hive-contest-results-week-100-and-start-week-101) just started...you can now check the winners of the previous week!</center><center>!LUV</center><center><sub>12</sub></center>
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@repayme4568 ·
$0.09
It is true of what you portray here of banks being the intermediary, they are the ones claiming to be the middleman, that without them you can not have a complete transaction, and that is why they mostly Involves in all our operations, yet tends to be putting more fear in the minds of their customers, with high charges and all the rest.

πŸ‘  
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vote details (1)
@taskmaster4450le ·
Yep.  They do this at the government level.  Many of the transfer payments are conducted by the banks.  They are reaping in huge money providing this "service".

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@taskmaster4450le/re-repayme4568-4ph7q4)
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@repayme4568 ·
Which is very unethical yet they are the ones with this practice
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@rob23 ·
$0.09
I completely agree with you on this one. I think it'll take a while, but the future will be tokenized.
πŸ‘  
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vote details (1)
@taskmaster4450le ·
$0.11
A couple decades at least.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@taskmaster4450le/re-rob23-28c1ml)
πŸ‘  
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@rob23 ·
I'll be looking forward to it
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@rzc24-nftbbg ·
> Ultimately, tens of trillions of dollars will be needed to overtake the power of the bankers. Here again, this will not happen overnight. It took decades for the banking system to get where it is. We are likely to see decades required to render it impotent.

I hope to see whales and Orcas on Hive become crypto billionaires to replace these bankers decades from now.

> Crypto-Networks should be thought of as economies. In the digital realm, they serve the same purpose as nations.

Unlike in the real world where citizenship is usually limited by one's financial situation, don't you see any setback to having multiple citizenships in the digital world? 



Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@rzc24-nftbbg/re-taskmaster4450-3hin1g)
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@sepracore ·
$0.09
β€œPermit me to issue and control the money of a nation, and I care not who makes its laws!” - Mayer Amschel Rothschild

Time to give this power to the people
πŸ‘  
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vote details (1)
@sissim72 ·
$0.05
@barnabo73 I think this can be an interesting reading for you ☺️
πŸ‘  
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@williamtboy ·
$0.09
As physical bank can't allow individual to buy crypto currency. There's alot of Internet and online banking that allow people to buy crypto currency.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@williamtboy/re-taskmaster4450-4nykl1)
πŸ‘  
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