Edmund Edgar expressed:  Does anyone else find they’re like in a perpetual see-saw on the “crypto will replace banks” thing where you read tweets from the bitcoin bro’s and that makes you pro-bank, then you interact with an actual bank and that makes you pro-crypto.

In response to Edmund Edgar, Emin Gun Sirer expressed:  Banks make the best case for crypto.

I double dare anyone to: – send money (basic crypto) – take out a collateralized loan (lending) – borrow funds for short term liquidity (flash loans) as quickly or cheaply through a bank as we can with crypto.

In particular, Dapps and launches that are not designed carefully can place extreme stresses on the chain. I’ll be reaching out to teams to develop lighter, faster, and best of all, fairer mechanisms.

Overall, the Avalanche community is committed to building an elegant, fast, and decentralized chain that’s pleasant to use.

For clarity, those who have trouble understanding the context should try to understand how to swap on a decentralized exchange (Trader Joe) and how to deposit on a decentralized finance lend market (AAVE) using the Avalanche C-Chain.

Community Reaction:  No. Banks in 2021 serve 99.999% use cases of 99.9999999% ppl just fine. Please use financial products and services before talking about disrupting finance.

Brokerages lend funds against your portfolio all the time. It’s instant. And, borrowing rates these days hover around 1%. I know it’s not relevant to Ava (yet) but L2 makes flash loans virtually impossible.

Just try sending a domestic wire through a bank – I don’t even want to think about an international wire. Or just go stand in line at a bank and wait for others in front of you cashing checks or taking out cash.

You must be joking. It’s exactly the contrary. People are not fine and this is pure ignorance about the current disruption which takes place. Of course, banks will suffer and honestly, right so.

I had to get a cashier’s check made at my bank and it took half an hour including their sales pitch for inviting me into some premium membership just so I could avoid the $15 fee. A $15 fee to print a check. What the hell?

25% of US households are unbanked or underbanked. Global CC fraud in 2018: $24.26Bn. When you deposit in, that is now the bank’s money. They allow you to use it when it suits them, and will stop you when it doesn’t. Anticompetitive, opportunistic vultures control your money.