What if banks reject all payments from and through crypto exchanges?

What do you guys think would happen if all banks globally decide upon NOT processing payments coming from and through exchanges? Let's say governments will try to regulate the decentralized markets this way. That would mean there is no way for exchanges to turn your crypto into fiat right? Will we be stuck with our crypto? (other than buying other assets with it)

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We would start to privately sell it, even more loss of control for banks and govs

>paypal
>ebay
>ebay becomes the new exchange

End goal of crypto is to GTFO out of fiat system where central authorities are printing money whenever they can and banks scamming porks.

Your goal as user is to bring as much useful services on crypto as you can, so people actually start fucking using crpyto for what it is intended.

So yes, fiat gateway can get it's head cut off and we get fucked temporarily.

short term, massive fucking crash
medium term p2p trading
long term decentralised 'banks'

Others payment companies will surely appear to fix that aka Nubank and shit. If big banks try to accept such payments, others will obviously use this to gain followers and big money.

>if big banks try to refuse such payments
fixed

Why is it so difficult right now for exchanges to pay out fiat?

If that happens I hope the assassination pools that Roger Ver was talking about become a thing. They would deserve nothing less. Off with their heads.

They're not going to crack down on XRP because it complies with all the financial laws and regulations. Next world reserve currency.

we would have a serious fucking problem.

>the banks

But even if decentralized banks would appear. Wouldn't these have to work with centralized banks again to transfer fiat to the users account?

Request network would jump in and solve al our problems. You can pay with any coin everywhere. I’ll be ordering a lambo. Please banks do this! Make me filthy rich!

But this again, Request Network can only work with a full adoption of Crypto currencies globally for the usage of every day purchases. I don't see stores getting excited yet for someone coming in and paying with their Ripples we are simple not even close to that kind of mass adoption. Im just trying to get a discussion started on this :)

>use prepaid card
>pay with that

Wew

There was a time when "experts" on the news said that one day people would buy things over the internet, and everyone watching, myself included, thought that sounded absolutely ridiculous.

I would literally open up a Game website to sell steam games lel

There will be on greedy Je- Bank that gives.
Will create a chain reaction. Bank FOMO.

this.
the toothpaste isn't going back in the tube.
any country or bank that does this shit will just be shooting themselves in the balls longterm and they know it

>wat if the gubbment bans stocks gize?
>wat if guilds ban factorios gize?
>wat if hitites ban iron weepons gize?

If it still makes money, there will always be intermediaries. Like hedge funds or something.

>Switzerland

Switzerland doesn't care, it loves money. Banks forming a cartel to do something not only incentivizes other banks to allow

buy fentanyl from china and become a drug lord, obviously. Just think of the returns

they dont have usd

I imagine something like a craigslist marketplace for crypto would arise (there are some already) where trust is acquired through review scores from previous traders and broken down transactions, like this:
>Bob wants to sell 50 ETH for USD
>posts ad
>Mike says he'll buy the 50 ETH
>they agree on a price
>Bob sends 0.5 ETH to Mike, when Mike receives it he sends him the USD
>Bob trusts Mike more, sends him 2 ETH, Mike waits for it to arrive and pays the USD
>Bob trusts Mike even more, sends him 5 ETH, Mike waits for it to arrive and pays him the USD
>this continues until they finish the full transaction
>prices may be adjusted during the transaction between sub-transactions
>this can be somewhat automated
It's a clusterfuck, but it's the best way to work when 2 parties don't trust each other.

>What is a smart contract?

I have no idea, what IS a smart contract?

In the history books they will refer to this as the currency revolution or some shit. The consequences will never be the same.

Doesn't matter. The crypto economy will be the 'real' economy in the future. The economy of the people and goy slaves. The plutocrat economy will revolve around gold and abstract financial products and only a select few supranational corporations, nations (just goy-management corporations in the new world order), banks and financial services providers will partake in it.

You'll get your UBI through which the nation corporation keeps you in bondage and servitude (controlling you via threat of shortening your UBI). With this money you pay your rent, health insurance, holocaust reparations for being white amalekite, whiteness tax, electricity bill etc.

The lambo, badass gaming rig, fancy watch, etc you'll purchase in the 'real' market using crypto.

Sounds wacky af but it's true. Screencap this and check in 20 years.

The absolute state of crypto

A self executing contract with inputs and outputs.

Bob writes a smart contract to sell Mike ETH and deposits his ETH into it. The contract stipulates that once Mike deposits $ into Bob's bank account the contract will release the ETH to Mike. Mike walks up to the window at Bob's bank and puts cash into his account. Then the smart contacts uses ChainLink to verify that money was actually received. Once verified, the contract will release the ETH to Mike's wallet.

Wouldn't happen. Those Jews see a good thing and will all job on board to fight for the last man standing

>
realistically, we are fucking screwed. prices will drop like crazy and we are all going to be stuck with random ass useless online coins

Who enforces the contract, Bob's bank?

>the smart contracts uses chainlink

Hahahahahahahahahahaha

Decentralised standardised currencies eg bitUSD within decentralised exchanges

thats already happening in australia, the top 3 banks are closing people's accounts that deposited to btc exchanges

this. He who has the most coins will win when crypto becomes widely adopted. Not who's coins have the most value

Kill yourself

You think Monaco is a solution to this where you can use their card to pay with Ether and Bitcoin for stuff?

Jews also jew each other. I bet some of them are heavily invested in crypto and will push for adoption.

I would take my business elsewhere. Simple as that.

This could actually be a HUGE boost for crypto and a crippling blow for banks.

Imagine this. Rather than cashing out, companies like APMEX got deep in to crypto/precious metals trading.

You could then, metal out or metal in to the crypto market. The two things complement each other better than anime and loneliness.

This man is thinking with his head.

Crypto is an unstoppable force where we now have the tools and capability to easily sell, trade, and withdraw through other means.

Consider what Bitshares has been putting together over several years at this point. They have an entire self running fucking country built on the internet.

hahaha. if this would ever happen. then privatly own companies may rise in the name of "crypto cash out center" literally everyone will start selling it there when the first company opens. and these companies would get insane cryptoes. after this price of cryptos will recover again
literally billionaire.
tell me how this cant happen.

>privately sell it

By sending envelopes of dollars in the mail? Banks are the mediator of the whole monetary system. It would definitely crash the market, big money would have absolutely no way of participating. You'd have to find a way around it so that your bank didn't know it was receiving/sending money from an exchange

Some other mediator would arise, all the banks would see would be private individuals wiring money to each other.

>APMEX greats a gold standard cryto
>Becomes the new gateway.

So fucking simple. You would eliminate the banks as a middle man.

It enforces itself. All the contract needs is the signal from Bob's bank that it received the money.

If you don't invest into Bitshares you will regret the problem they are going to be solving in the near future.

Stay poor.

Already bought the Bitshares dip at their all time low.

>he thinks decentralization will work in year > 2017 (year greater than 2017)

>thinks you can avoid consolidation of power with bitcoins

May we moon from the pure ignorance of others.

We start trading using bjork cds or anything else. Fiat is just a convenient way to get crypto, not the ultimate goal.

This

Bought both Bitshares and 0x as they appear to be the most promising in decentralization. Good long term investments and hedges against government corruption.

Thats not trustless tho.

Aren't you just trusting the contract, and by extension the network? I mean sure, you have to trust something, but I'd much rather trust ETH than Mike.

Just buy EGAS and hold it...13mil max supply and the price is sub $0.10 - at $1 it will only be 13mil market cap and even if it turns out to be a scamcoin thats still 10x returns.
Take a look@ coinmarketcap.com/currencies/ethgas/

60 iota a month will Be deposited upon positive signal from RetinaTracker 3000's smart chip that you have been in JobNet for 30 hours per week getting paid for job contracts such as completing surveys and voting for Celebrity Orgy House on GoyiMTV

Hes trusting the banks ability to send money

>ctrl-f localbitcoins
>0 results
you faggots are the worst

i actually think this will happen sooner or later when and if inflation and socialist policies become a lot more extreme

2018 is supposed to be the year of Decentralized Exchanges. Nobody realizes this.

and lose all those sweet taxes?

Retarded scenario for retarded kids

> He thinks there will be jobs for the commoners instead of being used as cattle for their biofluids