You underestimate the government and most importantly the bank of englands reliance on the main High Street banks processes. Crypto currency is a dark magic, no one can justify the gains of bitcoin its just due to its unregulated use pushing up the demand by its main users which letās face it isnāt āidealā in any governments eyes.
I think once China goes digital the world will regulate like never before and without the help, guidance and expertise of the high street banks the transition to digital will be far harder than some might think.
Why do you think the ant group ipo was stopped? To assess and regulate potential future harm being caused to state owned banks.
Long way to go yet to change my mind.
High Street banks will bounce back and digital will not take over it will be feathered in as and when it suits
Trying not to underestimate things like PayPal and especially Square they are major disruptions to the bank especially when businesses are concerned business owners are starting to realise the banks game
I donāt expect cryptocurrency to take over not at all but digital currency, the pound sterling to euro to dollar no longer hard cash all-digital ,cryptocurrency I donāt really mention as it holds no value
Crypto currency and digital/virtual currencies are one of the same thing, neither have an actual value real world value. They only have a value when you buy or sell something
To think that the top banks donāt have the power to disrupt or change the start ups attacking this market is ridiculous, when they are ready they will either buyout, form new versions of or incorporate this part of the market into theyāre own banking system.
Easily done for banks that have been around for almost three centuries
We havenāt had the technology for a digital alternative for three centuries though.
Also bitcoin or crypto is as fiat as the Ā£ when it comes the value of what it represents.
A pound in the bank, and a pound worth of crypto are the same.
Not until everyone excepts it, also the volatility of crypto means I wouldnāt sell my house and ask for it in crypto currency due to the vast fluctuations in price so no not comparable to any currency at the moment. Thereās also the enormous elephant in the room which is digital currency and where it goes in the event of a digital blackout. For these reasons I think we still have a long way to go especially to convince the very rich to abandon real world money.
Theres a good reason why precious metals are always so strong and thats due to the real world value take that away from cash and I believe types of asset class like gold will yet again flourish.
This is why Iām heavy in metals 
We currently have the blackout issue already thought, weāve already turned into a cashless society. If thereās a power cut most businesses are already screwed.
The digital coins we have today arenāt going to be the ones we use for day to day transactions.
Probably talking fifth generation crypto
Still not convinced I think this will take another generation to be fully integrated. Iām not saying cash will be here forever but the value of it will
Just to be clear Iām not suggesting this will be in the next decade, but weāll be moving in that direction and will lose physical coins and notes. I doubt weāll ever lose the pound as a currency. At least not in our lifetimes.
I wonder what life will be like in 28 years.
Anyway going back to traditional banks, I donāt see them winning be that in 5yrs, 10, 20, or 28.
Iām always happy to listen to other perspectives but with the rapid decrease they suffered in March and the increase happening now right before my eyes I have to disagree. If not in the next decade surely thereās still room for vast amounts of profit, if things change I will sack it in an instant
BTW worst remake in the history of remakes
Not a remake though, itās a sequel. Whether itās better or not is debatable. I think itās a solid film
Iām with you here.
The UK financials are being propped up with stimulus from the government. Once that stops and the bad debt businesses and people becomes clearer it could be news. Not to mention that the interest rates will be flat still as well.
I had Barclays and sold on the news.
Solid point still a crap film though
I find it funny that you assume all bad debt will be secured on the mainstream banks and the new online banks will piss past crapping gold bars out! Surely the debt will be equal spread, my money is still with the banks until theyāve surpassed pre march values.
I didnāt say anything about gold bars?
Iām saying there is a lot of bad debt and low interest rates which is a factā¦
Ofcourse but this is not a good enough argument to say that the main stream banks will fail while the newer online only banks will flourish that was my point. The debt is shared across the banking sector it is not restricted to just the high street banks
And at what point did I say they would fail? No where.
Iām not bullish on them in the next few years as the economy is bigger than the stock market and there are low interest rates and bad debt. No one can dispute this surely?
When I say bigger than the stock market I am referring to private businesses that are struggling.
They have never made the ground up from 08.
Give this a read and youāll see my point 
I think the questions were mainly from Phil but for some reason you have taken it that the answers were to you? Iām looking at the current lows for the almost certain upward future as Iāve said previously I donāt see any reason to sell the banks until they have reached pre march prices as at that point they were recovering. Everyone knows that the main banks didnāt start to recover until late last year and some early this year so the graph from 2008 is pretty obvious really
Youāre making assumptions againā¦
I was responding to a post in agreement, and now I am responding to you who is responding to me, so Iām not really sure what youāre getting at?
There is some short term upside, youāre right. Iāve made my money from it and now Iāve moved my money elsewhere.
Read the article Iāve put up because that articulates my rationale for not being so bullish in the long term