Banking system and BTC | Bitcointalksearch.org

Theones

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Quote from: Ozero on December 27, 2021, 12:23:21 PM

The banking system has been working for several centuries and so far the cryptocurrency does not threaten its existence. Periodic problems in this system were, are and will be. However, banks are fully protected by the state, since they serve the economy of each state and ensure the circulation of the national currency. Therefore, as long as states exist, banks will also exist if the states themselves do not find a more effective replacement for them.
Cryptocurrency is not capable of replacing the national currencies of states or the banking system.

Banks are there for centuries and will continue to exists as long as there is central governments in every country. Bitcoin IMO is not designed to threaten banking institutes rather its designed to exist in parallel with them. There are odds in banking system but dont forget there are limitiations in BTC also like scalability, price volatility etc

Ozero

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Quote from: DOH! on November 04, 2021, 11:12:32 AM

I believe the decentralized voluntary economy surrounded by bitcoin will make career-seeking bankers fail in the next 10 years. A new cycle is revolving around problems arising from the main loopholes of banks and governments. The increasing rate of hyperinflation due to additional problems has created a serious degree of broken links. Who will be satisfied with banks today? no and it is clearly used to demonstrate the value and growth of bitcoin.

The banking system has been working for several centuries and so far the cryptocurrency does not threaten its existence. Periodic problems in this system were, are and will be. However, banks are fully protected by the state, since they serve the economy of each state and ensure the circulation of the national currency. Therefore, as long as states exist, banks will also exist if the states themselves do not find a more effective replacement for them.
Cryptocurrency is not capable of replacing the national currencies of states or the banking system.

songchunlai

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In any case, Bitcoin must be the only ruler accepted by society in the future. Because people are no longer stupid.

Dhaniii

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Quote from: Kelvinid on November 25, 2021, 09:12:53 AM

Quote from: haasanjui on November 25, 2021, 08:54:33 AM

Banking system is another thing and BTC is another. In banking system you invest you worth and you are then fully depends on bank and their system but here Bitcoin is a online bank in it self its full in your hands you can use it anytime everywhere.

Most of us do not invest in the bank, we just use the service of banks because we like to save our money, to make it safe as they have insurance.

However, we should not expect that putting our money in the bank will help us gain profit as it will never happen, reasons are because of the inflation rate per year while the banks do not provide good interest to the deposits for their savings, so use the bank to save money, not ot invest, because the right way to invest is putting your money in crypto or in real-life business.

Banks and BTC have a high correlation where bitcoin needs bank services to deposit into BTC and with digital money like BTC, many have now raised a lot of funds to banks due to the move from BTC Financial services such as banking or called banks. So we cannot assume that in the next 10 years the banking system will disappear, instead it will increase further due to frequent transactions everywhere.

Kelvinid

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win lambo...

Quote from: haasanjui on November 25, 2021, 08:54:33 AM

Banking system is another thing and BTC is another. In banking system you invest you worth and you are then fully depends on bank and their system but here Bitcoin is a online bank in it self its full in your hands you can use it anytime everywhere.

Most of us do not invest in the bank, we just use the service of banks because we like to save our money, to make it safe as they have insurance.

However, we should not expect that putting our money in the bank will help us gain profit as it will never happen, reasons are because of the inflation rate per year while the banks do not provide good interest to the deposits for their savings, so use the bank to save money, not ot invest, because the right way to invest is putting your money in crypto or in real-life business.

Wipeout2097

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Tradditional Banks gave the monetary foundation to an economy, taking after this we've voyage till date. Based on distinctive money related arrangements the functionalities vary between banks working on diverse nations. In case managing an account framework haven't existed doubtlessly we all would've needed further dvlopmnt. Alway things not going in th right way.It is way managing an account framework as well has got blemishes. This could be corrected with the progressing innovation. A few has got used to it whereas a few are within the early days of embracing the unused innovation.
If banking systm want their existence must legalize the crypto and accpet in form their own coin.

haasanjui

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Banking system is another thing and BTC is another. In banking system you invest you worth and you are then fully depends on bank and their system but here Bitcoin is a online bank in it self its full in your hands you can use it anytime everywhere.

D-law

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Government control's banking,but are shouldn't be sure of bitcoin surpassing banking system,a simple rule place by the government can disrupt all bitcoin activities.
Banking system can only bring bitcoin system or adapt to the latest trend in technology which is not but Blockchain and Bitcoin transactions.

riskarcher

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Quote from: rodskee on November 24, 2021, 05:00:19 AM

Quote from: Argoo on November 07, 2021, 01:07:05 PM

Quote from: DOH! on November 04, 2021, 11:12:32 AM

I believe the decentralized voluntary economy surrounded by bitcoin will make career-seeking bankers fail in the next 10 years. A new cycle is revolving around problems arising from the main loopholes of banks and governments. The increasing rate of hyperinflation due to additional problems has created a serious degree of broken links. Who will be satisfied with banks today? no and it is clearly used to demonstrate the value and growth of bitcoin.

Many do not take into account that the banking system is part of the state system of government. As long as the states exist, they will defend their banking system by legal methods and methods of direct coercion. However, it can change and improve, and the states themselves are interested in this.
Bitcoins and other cryptocurrencies, including in connection with this, cannot harm banks. Cryptocurrency should learn to coexist with banks and their fiat.

Because government can have control over banks but will never into Bitcoin and this is sudden in their part as they are frustrated in Handling crypto but they are failing all the time.
banking will exist forever but the force of crypto and most specially Bitcoin will certainly lessen the power of Fiat in the world, this will happen soon .

But what you should know is that the government has slowly started to regulate bitcoin by using stable coins as a way to control bitcoin prices and fortunately bitcoin is very decentralized because many holders have the freedom to transact with the blockchain system and the bank is only a place of payment for every bitcoin transaction

rodskee

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Quote from: Argoo on November 07, 2021, 01:07:05 PM

Quote from: DOH! on November 04, 2021, 11:12:32 AM

I believe the decentralized voluntary economy surrounded by bitcoin will make career-seeking bankers fail in the next 10 years. A new cycle is revolving around problems arising from the main loopholes of banks and governments. The increasing rate of hyperinflation due to additional problems has created a serious degree of broken links. Who will be satisfied with banks today? no and it is clearly used to demonstrate the value and growth of bitcoin.

Many do not take into account that the banking system is part of the state system of government. As long as the states exist, they will defend their banking system by legal methods and methods of direct coercion. However, it can change and improve, and the states themselves are interested in this.
Bitcoins and other cryptocurrencies, including in connection with this, cannot harm banks. Cryptocurrency should learn to coexist with banks and their fiat.

Because government can have control over banks but will never into Bitcoin and this is sudden in their part as they are frustrated in Handling crypto but they are failing all the time.
banking will exist forever but the force of crypto and most specially Bitcoin will certainly lessen the power of Fiat in the world, this will happen soon .

Daltonik

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CBA CEO Matt Comyn says on Bloomberg TV that, the largest Australian bank, is more concerned about the risk of staying out of cryptocurrencies than those associated with the introduction of this asset class.

Quote from: https://www.bloomberg.com/news/videos/2021-11-18/cba-ceo-comyn-says-biggest-risk-of-crypto-is-missing-out-video

Argoo

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Quote from: DOH! on November 04, 2021, 11:12:32 AM

I believe the decentralized voluntary economy surrounded by bitcoin will make career-seeking bankers fail in the next 10 years. A new cycle is revolving around problems arising from the main loopholes of banks and governments. The increasing rate of hyperinflation due to additional problems has created a serious degree of broken links. Who will be satisfied with banks today? no and it is clearly used to demonstrate the value and growth of bitcoin.

Many do not take into account that the banking system is part of the state system of government. As long as the states exist, they will defend their banking system by legal methods and methods of direct coercion. However, it can change and improve, and the states themselves are interested in this.
Bitcoins and other cryptocurrencies, including in connection with this, cannot harm banks. Cryptocurrency should learn to coexist with banks and their fiat.

rizqoAD

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In my opinion, banks cannot be replaced by Bitcoin, fiat banks are part of a country's financial system and the condition for the formation of a country is to have its own currency issued by the bank. I agree that Bitcoin is not affected by inflation like fiat, but I think Bitcoin will just be a financial alternative. I wish my country had a cryptocurrency financial system because I think cryptocurrencies don't lose value easily and are very helpful for people like me.

Ebede

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Quote from: oleg681010 on September 06, 2019, 03:36:05 AM

In my opinion, these two things absolutely can not be combined. Therefore, only one must win

The two can work together except you did not understand it difference, no way you can have bitcoin without converting it to paper money and only solution ground that can help you out is bank, so banking system works alongside with bitcoin serving system, i can't differentiate them.

SmokerFace

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Being fully decentralized is the main route cause that the banks aren't adopting it. We can expect it for the future but currently, they seem to have no planning for this. Also, strong processes & infrastructure might be required for the same. Also, there would be many flaws in the starting when it would be commenced. Let's hope for the better.

RiskySanchez

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The banking and BTC are different currencies and have their value in each place but are related to each other for the financial process. the banking system has become the foundation of the world in developing its country and has been well centralized, while decentralized BTC whose presence is still pros and cons, there are still many problems that must be fixed in the Defi system. so it's impossible BTC can kill banking system

CDC AP

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The main question is if banks only mode to earn money is to handle payments from their clients? Because the last time I check it's not even their main mode to earn money from you. Banks are not like wallets where its only purpose is to send and receive money the biggest chunk of their income are coming from lending money out froms people and businesses which Bitcoin doesn't have. Lets stop thinking that BTC is here in order to kill the banking sustem because from what I see banks are already acvepting the change, some even have their own versions of blockchain already.

Rishabh riyz

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Quote from: oneman12 on September 05, 2019, 12:45:10 PM

Hello traders. What's your opinion could BTC kill banking system? Bitcoin has an advantage over fiatbecause its amount is limited and it can't fall under inflation.Inflation usually is caused by monetary policies of our central banks. Bitcoin is free from inflation, governement control and high transaction fees.Banks can’t control BTC because it has no representative and is fully decentralized. That's why banks are afraid of BTC.

In my opinion banks and crypto currencies both have their important role ,
I personally consider bitcoins as investment , i would rather pay for things with fiat that with my assets , at the rate BTC is growing it would be like overpaying for every stuff we buy with them , so for daily activities and needs i would prefer paying from fiats , yes they have taxes in every transaction but agree or not taxes are very important source of income for any government to function and maintain the country.

Wong Gendheng

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Banks and bitcoin can collaborate, blockchain technology in bitcoin can be easily applied to create a new banking system that is more effective and efficient, especially if banks make bitcoin as a product it will be easy to attract investors to invest in bitcoin.

Alanaz

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Quote from: no-ice-please on November 04, 2021, 08:01:49 AM

Quote from: Pamadar on November 29, 2019, 12:37:46 AM

Quote from: Tylev on November 28, 2019, 11:54:23 PM

The banking system will exist almost as long as the state exists. After all, the banking system serves the economy of any state and is actually part of it.
Bitcoin or cryptocurrency is generally not capable of destroying the banking system either in theory or in practice. A decentralized cryptocurrency should not conflict with the banking system, otherwise it may lose this confrontation. A decentralized cryptocurrency can and should develop in parallel with the current payment systems.

Banking system serves as the main financial institutions of one nation, it represent the strength of the country. There's no need to compete if there's a chance to use the same system such as blockchain. Both currencies will be able to co-exist without any problem if they will allow both sides to transact and adopt both system. it will be difficult for BTC to break the financial institute so there's no need to try doing it, but instead embrace things as part of its existence and future success.

This is not necessarily true that it only represents the strength of a nation as you call it. Banks are well known to be functioning as rent-seeking institutions that slow down innovation tremendously and hinder change on purpose. Their business is the easiest you can have in the world. You just take a straw and out it in the streams of financial transactions, and then you start sipping step by step. For every single transaction that goes through your system you just take a sip. Sounds good? Doesn't really sound like a good system to me.

when we talk to the other side it is true as you say and this is the negative side of the banking system.
but on the other hand, the government also has the pretext of using banks as collectors and distributors of public funds and aims to support the implementation of national development in order to increase equitable distribution of development and its results, economic growth and national stability, towards increasing the standard of living of the people at large.

even though there are now many people who really don't look at this side because they are already on the path of crypto but on the other hand many people still use fiat as one of their references, so it is very natural when bank schemes are still very in demand even though we can't really expect much to him.

Topic: Banking system and BTC (Read 5138 times)