I would say that we are close to the crash of the ENTIRE financial system (banks, currency, mortgages, insurance, stock exchanges, govern-cement bonds…) but that really isn't the correct word. The old system is falling apart as the new system is being built up.
Think of bitcoin (and, i guess you have to throw in Lightning Network), and compare it to money in the bank. If you could spend bitcoin as easily as you do dollars, how many people would just stop using dollars?
Imagine never having to drive to an ATM, never having to pay a bank to store your money, or fees because, that's what banks do. Never having to consult a teller to find out what happened in YOUR account.
Imagine if insurance was a smart contract. You know what your risk is, and then you are offered so much coverage for so much bitcoin. You could see the size of the pool, and analyze the total risk. Or it could be such where everyone overpays, and then, when lots of bad stuff doesn't happen that year, the remaining funds are reimbursed. (automatically)
Imagine if your money was deflationary, like bitcoin. Just holding onto the bitcoin is better than gambling with it in the stock or bond market.
These and many more things are coming to turn the financial world on its head. The Flippening.
Are the banksters shitting their pants?
It must be hell for people like Jamie Dimon. On one hand, he would like to invest in bitcoin and get those huge returns, on the other hand, it destroys everything Dimon stands for.
I wonder if the banksters see how huge of a change bitcoin is bringing? They seem to be seeing it, they are putting all kinds of shit in the way, but nothing they have done has been very effective. And many people surmise that it cannot be effective. "Bitcoin is unstoppable"
Are the banksters thinking they can make money on bitcoin and continue on with their games?
They are trying to make their own bitcoin, without any of the good things about bitcoin, and they seem to be failing. Both in concept and in coding.
Anyway, the banksters are going to lose, their structure is already falling.
Wall Steet goes away. The entire thing
The banksters are engineering a collapse. They have done so before, but nothing as this big since 1913. The banksters know the old system has a time limit, and they wish to collapse (problem) the financial system, scaring all the people (reaction) into accepting their new system (solution). However, they are also losing people's faith. People are seeing what has happened to other people's bank accounts (or their own). More and more people want another solution. And so, will reject what the banksters offer.
More and more people are noticing bitcoin, and as the payment systems are worked out by sellers and buyers, than it is only a matter of time before Wall Street goes away.
Before, the people were able to be lied to. They didn't know that the rots-childs caused the banking crash. The rots-child owned newspapers didn't tell the people of their nefarious ongoings.
This time there is a way out, AND people are starting to see that it is the banksters who are causing all the problems.
It is a trickle now, but soon, it will be a dam busting torrent away from the Wall Street swindlers.
Crashing into success
The rots-childs want to crash all the markets and buy up all the stuff. In fact, they probably own all the stuff already, and just want a catastrophe to give plausibility to them owning everything.
But the internetz will put a crimp in their schemes. When the stock market closes, or what causes the stock market to close; the fact that more shares of stock are traded that exists stocks.
The old, oversell all the tickets, and since everyone thinks they didn't win, then no one comes to collect their winnings.
However, two things are going to happen. Reggie Middleton has created the smart contracts on a block chain to keep track of transferring stock, and this will offer an alternative to the NYSE (and others) and the internetz will lay bare all the swindling that has been taking place. As people share how much stock they each think they own. And so, the totals will show just how corrupt the NYSE was (or the corruption they allowed)
The people will come out much better after this crash.
It is inevitable that crypto replaces fiat currency. It is just that much better.
And so, it will replace all of Wall Street.
The banksters are failing to do what is most important to keep customers. Do something that the customers will pay for.
Bank have become intolerable to deal with. Asking questions about what you want to do with your money, when you ask to withdraw some. Putting delays on everything you may do, and fining you every step of the way. Some banks are literally stealing their customer's money. (and getting fined for it… its called sharing the stolen booty)
All the other financial institutions are being much the same way. Trying to squeeze every dime out of their customers. This can only go on so long as there is no where else for their customers to run to.
So, bitcoin (and cryptos, and smart contracts) is going to replace all of Wall Street.
Savings account? Bitcoin
Checking account? Bitcoin
Money transfer? Bitcoin
Insurance? Bitcoin
Investments? Bitcoin
Bonds? Bitcoin + smart contract
Stocks? smart contract
Even buying gold and silver will be a smart contract on a block chain.
Everything on Wall Street will just go away.