Are Cryptobanks Future? - page 11. | Bitcointalksearch.org

Kelvinid

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Quote from: bitcoinst on April 15, 2019, 07:27:18 AM

I do not think that crypto banks in their pure form will be able to occupy a serious niche, at least in the near future. There are several reasons. The main thing is that ordinary banks just will not give up their territory, the second is the strong volatility of the market.

We might be thinking that crypto will be competing fiat banks and turning them into crypto banks. I've never think that it have to be like that knowing that still there is a huge numbers of fiat users rather than of crypto adopters. This could be a way that crypto banks in the future will looks so impossible and people would stick into fiat banks.

bitcoinst

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I do not think that crypto banks in their pure form will be able to occupy a serious niche, at least in the near future. There are several reasons. The main thing is that ordinary banks just will not give up their territory, the second is the strong volatility of the market.

breathlessz

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Quote from: jcarlo on April 08, 2019, 07:58:47 PM

Quote from: iTradeBit on December 08, 2018, 11:52:26 AM

Friends, I have recently read an article on the future of the banking system thanks to proliferation of smart contracts, some countries are already preparing cryptobanking projects, and this should happen the next few years. Actually the conclusion of the article was that the free financial market - cryptocurrency is the future for the financial system. Do you agree? Is it so positive, or will the state regulation complicate things, but in my opinion it is inevitable for the banking sector, in your opinion?

Cryptocurrency like bitcoin created by satoshi because not trust on banking system. People can make transaction peer to peer and i dont think need cryptobanking project. When exchanger getting bigger and have feature to deposit and withdrawal direct from our bank account, i think cryptobanking less needed and dont have good prospect

right, everyone like having a private bank, so the cryptobank doesn't seem to have many functions. what is needed is only additional security so that our wallet is not easily hacked by hackers

jcarlo

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Quote from: iTradeBit on December 08, 2018, 11:52:26 AM

Friends, I have recently read an article on the future of the banking system thanks to proliferation of smart contracts, some countries are already preparing cryptobanking projects, and this should happen the next few years. Actually the conclusion of the article was that the free financial market - cryptocurrency is the future for the financial system. Do you agree? Is it so positive, or will the state regulation complicate things, but in my opinion it is inevitable for the banking sector, in your opinion?

Cryptocurrency like bitcoin created by satoshi because not trust on banking system. People can make transaction peer to peer and i dont think need cryptobanking project. When exchanger getting bigger and have feature to deposit and withdrawal direct from our bank account, i think cryptobanking less needed and dont have good prospect

0t3p0t

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Quote from: cluit on December 26, 2018, 05:07:25 AM

Quote from: iTradeBit on December 08, 2018, 11:52:26 AM

Friends, I have recently read an article on the future of the banking system thanks to proliferation of smart contracts, some countries are already preparing cryptobanking projects, and this should happen the next few years. Actually the conclusion of the article was that the free financial market - cryptocurrency is the future for the financial system. Do you agree? Is it so positive, or will the state regulation complicate things, but in my opinion it is inevitable for the banking sector, in your opinion?

The question is who and who is even interested in the banks you’re talking about? I have not seen anyone that is interested in anything about Cryptocurrency banks.

When it comes to making use of Bitcoin or any cryptocurrencies, all you need is just your crypto wallet and nothing else, you don’t really need anything bank. There are different types of safe wallets that you can use to store you coins safely just like Trezor and the rest of them.

I think the people are interested with crypto banks depends on it really works either it is a centralized or decentralized bank that will take good care of our funds but to be honest we don't need them as the wallets we have are more secure than this kind of banks. We have the full control of our wallets that is why I think people will stay away from it but we also have to accept the fact that there are people who still have interests in using such cryptobanks.

samcrypto

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Quote from: Dimas99 on April 04, 2019, 01:10:56 AM

Quote from: Centareum on December 14, 2018, 01:07:56 AM

Most of the Governments won't do this! they need things to be centralized as they wanna keep an eye on everything! Roll Eyes

all possibilities can occur without anyone who can find out all the developments of the era and the technology that is possible so that the government can also use an economic system that uses advances in the era and technology

Government can do anything, i don’t want to be limited because of the bad government actions but I think they can make their own coin for sure. Cryptobanks are not totally needed, but if there is someone who are willing to take challenge the real banks then it would be a nice move for them. Right now its not possible, the future will make it more possible.

Adriano2010

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I also i don't think the crypto banks is the future, the bank will work as today for more time, they like to have money and to give loans and take a lot of interest and also governments like the way how bank works.

Indrawan77

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I don't think so, in the future banking system will still dominant by the today's system maybe will be influenced a little by crypto, but the government won't allowed too many changes in bank because the bank need to have control over the economic system to balance the inflation, bank and crypto will create a good harmonisation if its being used correctly and in balance

tadpole_bitfrog

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Quote from: iTradeBit on December 08, 2018, 11:52:26 AM

Friends, I have recently read an article on the future of the banking system thanks to proliferation of smart contracts, some countries are already preparing cryptobanking projects, and this should happen the next few years. Actually the conclusion of the article was that the free financial market - cryptocurrency is the future for the financial system. Do you agree? Is it so positive, or will the state regulation complicate things, but in my opinion it is inevitable for the banking sector, in your opinion?

I totally agree that electronic money will be the financial system in the future. We cannot deny its utility. It makes millions of transactions easier every day at a very low cost.
In the future, if banks do not apply blockchain technology in their financial systems, other businesses will quickly do so.

stfN2128

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Isn't a bank exactly that what cryptos not need and are made for? I mean yeah they tell you that they are going to store your cryptos safe. but when you are prepared for the worst, you should be able to manage your cryptos safely by yourself. i don't trust banks, so i also don't like the way with cryptobanks. maybe it's ok for now to fill the gap between fiat and cryptos... but for the longterm i really hope that cryptobanks aren't a big thing.

usorin

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Quote from: iTradeBit on December 08, 2018, 11:52:26 AM

Friends, I have recently read an article on the future of the banking system thanks to proliferation of smart contracts, some countries are already preparing cryptobanking projects, and this should happen the next few years. Actually the conclusion of the article was that the free financial market - cryptocurrency is the future for the financial system. Do you agree? Is it so positive, or will the state regulation complicate things, but in my opinion it is inevitable for the banking sector, in your opinion?

I don't trust in any form of bank, i mean a bank is a bank and the hole purpose of the blockchain is to avoid this kind of systems for the financial liberty.

mrdeposit

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Quote from: Dimas99 on April 04, 2019, 01:10:56 AM

Quote from: Centareum on December 14, 2018, 01:07:56 AM

Most of the Governments won't do this! they need things to be centralized as they wanna keep an eye on everything! Roll Eyes

all possibilities can occur without anyone who can find out all the developments of the era and the technology that is possible so that the government can also use an economic system that uses advances in the era and technology

We may need a lot of time for this change. Today, price volatility is not allowing most of the crypto banks to continue as it is.
Personally, I do not think we can continue with a decentralized system. So we will try the more advanced type of central system.

kamilah147

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Quote from: iTradeBit on December 08, 2018, 11:52:26 AM

Friends, I have recently read an article on the future of the banking system thanks to proliferation of smart contracts, some countries are already preparing cryptobanking projects, and this should happen the next few years. Actually the conclusion of the article was that the free financial market - cryptocurrency is the future for the financial system. Do you agree? Is it so positive, or will the state regulation complicate things, but in my opinion it is inevitable for the banking sector, in your opinion?

all possibilities can happen and no one can confirm that if the development and crypto bank technology will be needed, I think the government will do that by adopting an economic system that is used by crypto currencies

fasdorcas

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Quote from: okala on April 03, 2019, 03:37:13 AM

Cryptobank project will be a good development but I believe that the blockchain is already performing that role of crypto bank because it transactions are carried out on the blockchain and records kept on the blockchain network. Having a project for that will be to give it a physical identity which will be far from anonymousness.

Lol, we don’t even need anything bank. I see some projects that claims to be cryptocurrency banks and I just laugh at them. What exactly do they have to offer? They can’t even do up to 10% of what banks can do and one thing for sure is that they can’t give loans to people. So they don’t stand a chance. I have seen how some cryptocurrency loan platforms works and I don’t really fancy them.

Moreover, cryptocurrency doesn’t need banks, your wallet already serves for everything that you need, and that includes sending and receiving money, some wallets also offers debit cards that allows you to withdraw cash from ATMs' where the card is being accepted. So you don’t really need for cryptocurrency and by the way it is not even a real money, rather it’s an asset you purchase and own with your fiat.

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Quote from: shoreno on April 05, 2019, 04:31:24 AM

Quote from: sakokinak on April 05, 2019, 02:59:50 AM

Quote from: Botnake on April 03, 2019, 11:46:11 PM

Quote from: cryptjh on April 03, 2019, 03:26:16 PM

Holding cryptocurrency is all about being your own bank. The banks won't go away they will still be here in the future, even in the event that the world abandons the fiat system.
The banks will, in the end, find a new way of making money, so there's a chance that our banks in the future will add crypto exchanges into there business, so every bank costumers will be able to trade crypto in their home bank.

It's not similar to banking if you are just holding, banks gives interest therefore you money will grow but in crypto there is no assurance that it will grow.
Bank is for savings, while crypto is for investing, the first one does not have risk which crypto has, that's my own definition.

Nevertheless, more and more people do understand that we need cryptobanks. With their help, we will make more profitable exchanges. They will give us more chances to make money with crypto.

i dont think that you can earn more with crypto banks because you still need to pay before you can use thier service and the concept of crypto banks is storing a crypto right ? that simply means you can still loose because crypto banks are not reponsible to secure the value of your money from volatility . i dont see any valid reason why we will be needing such kind of bank . right now traditional banks are now slowly recognizing cryptos and they are already enough .

`You can use their service` sum up everything about the banks, they are just service, now and they will be just a service. They will need to find a way to stay in business, cause what are they doing now and how they are earning now will be replaced by cryptocurrencies, we will be our own banks, we will send and receive money on distance without them. What way will they find is up to them, will they make their coins like some of them started to do, or they will become exchanges one day, I think we will see many of the banks trying something, but not all of them will stay alive.

shoreno

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Quote from: sakokinak on April 05, 2019, 02:59:50 AM

Quote from: Botnake on April 03, 2019, 11:46:11 PM

Quote from: cryptjh on April 03, 2019, 03:26:16 PM

Holding cryptocurrency is all about being your own bank. The banks won't go away they will still be here in the future, even in the event that the world abandons the fiat system.
The banks will, in the end, find a new way of making money, so there's a chance that our banks in the future will add crypto exchanges into there business, so every bank costumers will be able to trade crypto in their home bank.

It's not similar to banking if you are just holding, banks gives interest therefore you money will grow but in crypto there is no assurance that it will grow.
Bank is for savings, while crypto is for investing, the first one does not have risk which crypto has, that's my own definition.

Nevertheless, more and more people do understand that we need cryptobanks. With their help, we will make more profitable exchanges. They will give us more chances to make money with crypto.

i dont think that you can earn more with crypto banks because you still need to pay before you can use thier service and the concept of crypto banks is storing a crypto right ? that simply means you can still loose because crypto banks are not reponsible to secure the value of your money from volatility . i dont see any valid reason why we will be needing such kind of bank . right now traditional banks are now slowly recognizing cryptos and they are already enough .

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Quote from: Botnake on April 03, 2019, 11:46:11 PM

Quote from: cryptjh on April 03, 2019, 03:26:16 PM

Holding cryptocurrency is all about being your own bank. The banks won't go away they will still be here in the future, even in the event that the world abandons the fiat system.
The banks will, in the end, find a new way of making money, so there's a chance that our banks in the future will add crypto exchanges into there business, so every bank costumers will be able to trade crypto in their home bank.

It's not similar to banking if you are just holding, banks gives interest therefore you money will grow but in crypto there is no assurance that it will grow.
Bank is for savings, while crypto is for investing, the first one does not have risk which crypto has, that's my own definition.

What's been stated in the quote is the right definition for banks and cryptocurrency. With banks we can save, in terms of cryptocurrency too we can save. Here with cryptocurrency we cannot get assurance of our savings. The growth can happen in the uptrend or it could go low. With banks one gets an assurance of earning as interest will be provided for the savings. From my understanding one who have begun to save in terms of cryptocurrency will never move to bank savings.

sakokinak

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Quote from: Botnake on April 03, 2019, 11:46:11 PM

Quote from: cryptjh on April 03, 2019, 03:26:16 PM

Holding cryptocurrency is all about being your own bank. The banks won't go away they will still be here in the future, even in the event that the world abandons the fiat system.
The banks will, in the end, find a new way of making money, so there's a chance that our banks in the future will add crypto exchanges into there business, so every bank costumers will be able to trade crypto in their home bank.

It's not similar to banking if you are just holding, banks gives interest therefore you money will grow but in crypto there is no assurance that it will grow.
Bank is for savings, while crypto is for investing, the first one does not have risk which crypto has, that's my own definition.

Nevertheless, more and more people do understand that we need cryptobanks. With their help, we will make more profitable exchanges. They will give us more chances to make money with crypto.

Dimas99

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Quote from: Centareum on December 14, 2018, 01:07:56 AM

Most of the Governments won't do this! they need things to be centralized as they wanna keep an eye on everything! Roll Eyes

all possibilities can occur without anyone who can find out all the developments of the era and the technology that is possible so that the government can also use an economic system that uses advances in the era and technology

Botnake

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Quote from: cryptjh on April 03, 2019, 03:26:16 PM

Holding cryptocurrency is all about being your own bank. The banks won't go away they will still be here in the future, even in the event that the world abandons the fiat system.
The banks will, in the end, find a new way of making money, so there's a chance that our banks in the future will add crypto exchanges into there business, so every bank costumers will be able to trade crypto in their home bank.

It's not similar to banking if you are just holding, banks gives interest therefore you money will grow but in crypto there is no assurance that it will grow.
Bank is for savings, while crypto is for investing, the first one does not have risk which crypto has, that's my own definition.

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