Hey Luke, nice insightful post. Actually, I AM waiting for some pullback of some sort to invest and I don't really get a lot about it, but there's one thing I want to ask and I don't get: Why do people criticise banks so much? I mean, do people not want banks? If there are no banks, who will offer loans to people? And even if people with crypto start offering loans, how will poor people in undeveloped countries without the technical know-how be able to get loans? I think that banks are necessary for the people.
Do bear with me if you think these questions are naive as I am new to cryptocurrencies but look forward to learning as much as I can 🙂
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I did a presentation years ago you may find helpful for understanding why cryptocurrency advocates don't like central banks: Why Bitcoin May Be More Disruptive than the Internet. There are also plenty of interesting documentaries online like Money as Debt or All Wars are Bankers' Wars.
Loans can and do exist without banks. There are many cryptocurrency projects that specialize in this as well. A bank is a third party risk that is no longer technically needed.