Banks against the crypto - page 11. | Bitcointalksearch.org

KennyR

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Quote from: cryptoaddictchie on March 27, 2019, 02:17:03 AM

Quote from: Theentre on March 11, 2019, 01:41:30 PM

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

Im betting it is not possible to eliminate banks. Crypto having a hard time gaining legal side and the Government keeps on denying the existence of crypto as a good instrument in the finance industry. Maybe some huge name will disagree even we fight for pure decentralization.

Chances are slim to achieve this but Im still hoping this could be implemented since blockchain works out well compared to bank.

Agreed, it is impossible to eliminate the usage of banks. These are the primary financial service renders who play a big role in the economic structure of any country. Over the past few years banks have been experiencing a big loss due to the increasing adoption of cryptocurrency. Banks against the cryptocurrency is happening fearing it might take the place of banks which is truly impossible in the short or in the later years.

cryptoaddictchie

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Quote from: Theentre on March 11, 2019, 01:41:30 PM

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

Im betting it is not possible to eliminate banks. Crypto having a hard time gaining legal side and the Government keeps on denying the existence of crypto as a good instrument in the finance industry. Maybe some huge name will disagree even we fight for pure decentralization.

Chances are slim to achieve this but Im still hoping this could be implemented since blockchain works out well compared to bank.

BennyK

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The issue between the banks and crypto is not a new thing. This is largely due to the fact that the banks are centralized whereas crypto is decentralized. The governments are in full support with the bank system because it gets to control the affairs of the banks. However, crypto bypasses this by giving the users full authority over their own transactions.
Anyway, there are projects like the HubrisOne which is working towards the merging of cryptocurrency services and banks into a single platform. The app is already on the market.

tetyulfania

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What have to care about bank against with crypto, more than last three years our local exchange market have support by bank and never have bank want to stop it, you have trust bank never against crypto forever.

Botnake

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Quote from: Incodium Coin on March 26, 2019, 09:29:19 PM

Banks may be more prudent now, but back in 2017/2018, many banks were heavily invested in crypto. They cashed out at the height when the government began putting in place measures to regulate crypto. Blockchain technology will serve even banks.

Such as, be more precise and give us an example on what banks are investing with crypto that time.
There are a lot of banks in the world, therefore they are big in numbers so saying many is would mean they it will pour money in crypto and I don't see an institution such as bank will just invest with crypto when they are also guided by the banking law.

nur rochid

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Quote from: vixcious on March 26, 2019, 09:10:48 PM

Quote from: Theentre on March 11, 2019, 01:41:30 PM

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

Banks will have to fight a lot with this. But I think the best way is that they will accept blockchain technology and change their entire trading system as soon as possible.
Because when the old bank opposes the blockchain, new banks will grow and there are many incentives in transferring money. Old banks will also die if they don't know how to take advantage of new technology.

the first point that must be implemented is the legalization of the government, so that banks can carry out their performance using the blockchain according to the laws of the government.

Incodium Coin

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Banks may be more prudent now, but back in 2017/2018, many banks were heavily invested in crypto. They cashed out at the height when the government began putting in place measures to regulate crypto. Blockchain technology will serve even banks.

vixcious

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Quote from: Theentre on March 11, 2019, 01:41:30 PM

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

Banks will have to fight a lot with this. But I think the best way is that they will accept blockchain technology and change their entire trading system as soon as possible.
Because when the old bank opposes the blockchain, new banks will grow and there are many incentives in transferring money. Old banks will also die if they don't know how to take advantage of new technology.

Finestream

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Quote from: kaya11 on March 26, 2019, 10:32:46 AM

We are not so sure, it's like a game of thug of war. Whoever have the edge surely wins. For now banks are ahead of crypto currencies. Even so, we can't fully disregard the use of banks, they profit from loans and interests. Crypto have the same characteristics, there are also projects who can loan you. Even the world will be fully run by Blockchain still banks will be present.

Right.Banks will never lost its value even if mass adoption for crypto will happen.I think cryptos also are not created to compete with banks.Instead,they are here just to offer another option for people to give more convenience in making money transactions and even making their funds more safe and secured through keeping in their own crypto wallets.

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Quote from: cizatext on March 26, 2019, 10:47:08 AM

It depends on the angle one subject it to because the bank still remains the central financial system of government of countries and at that the bank have the support of the government and the cryptocurrency brought about freedom.

If governments decide to keep the clean the economy from robbery bankers then main political figures will check the availability of another dilemma. Crypto banking projects are popping up every day and these projects will beat one day the small bankers and domino effect will happen sooner or later, even without the help of the greedy politicians.

annango

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Quote from: malikusama on March 21, 2019, 06:33:12 PM

Quote from: Theentre on March 11, 2019, 01:41:30 PM

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

It's difficult to completely vanish the banking system but not impossible at all.
The banking system have strong roots in our economic system of world, and cryptos are too young so it will take some time to transfer financial power from banks towards cryptocurrencies.

Actually comparing with the appearance of banks, cryptocurrency is indeed in its young stage. Although these days the number of people pay attention in crypto is going to much more crowded, the number of people who uses banks is much dominance in many place of the world. Because fake news, bad rumor or that sort of thing about crypto are spread continually which makes many people not have faith in crypto at all. I don’t think that cryptocurrency can lead the disappearance of banks cause its common role in life. However, crypto is possibly dominant in the future.

cizatext

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It depends on the angle one subject it to because the bank still remains the central financial system of government of countries and at that the bank have the support of the government and the cryptocurrency brought about freedom.

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We are not so sure, it's like a game of thug of war. Whoever have the edge surely wins. For now banks are ahead of crypto currencies. Even so, we can't fully disregard the use of banks, they profit from loans and interests. Crypto have the same characteristics, there are also projects who can loan you. Even the world will be fully run by Blockchain still banks will be present.

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Quote from: Altero on March 21, 2019, 07:33:33 PM

Will have a crypto dominance once people would used and invest crypto, and also the participation of the government. And it may take many years to come before we have that thing since crypto development still on going and due to some issues of its stability.

Lets make it very clear here. Governments are not going to accept something that makes hiding their black money and bribery easy. So saying that government is going to accept crypto is like living a dream with a few countries being exceptions. Even then the speculation and bad rumors going on with them makes the system even more volatile in Venezuela not to mention the world economists saying bad things about it. This leads to panic among people who have very low income and cant stand the prices of things for long - it leads to loss of lives.

Quote

With that matter, banks will still remain in service and provide their functions knowing that they are the most reliable companies where we can stored our money safely. And I don't think that they against on crypto but maybe they are pursuing also to adopt the system.

What will happen in future is not for us to know from before but to see with our own eyes. Banking system wont go down even when crypto rises. Fiat will be there but the importance might differ.

ongkok87

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That is certain because from yesterday it is still an obstacle for developing crypto in countries because it is still difficult for children to accept crypto currencies, even though the government is willing to look at the crypto currency well

Caladonian

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Quote from: richminded on March 21, 2019, 07:02:54 PM

Quote from: Theentre on March 11, 2019, 01:41:30 PM

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

Bank will stay, but cryptocurrency will be more dominant in the future. Its hard to kill a multi-billion company, they will also adopt for sure and it can be a better banking system in the future. We have to be focus on helping cryptocurrency to succeed for a more better future, we should not let anyone to destroy this market.

As they can adopt crypto as well, if they seen big opportunities we never know what this big businesses can do inside the financial market, the business will still exist and continue, there's no such thing that can prevent them to work alongside with crypto so it would be possible that this two system will
co-exist in the future helping the financial industry.

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Quote from: shesheboy on March 21, 2019, 09:45:09 PM

Quote from: andika2018 on March 21, 2019, 08:26:02 PM

Quote from: Altero on March 21, 2019, 07:33:33 PM

Quote from: richminded on March 21, 2019, 07:02:54 PM

Quote from: Theentre on March 11, 2019, 01:41:30 PM

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

Bank will stay, but cryptocurrency will be more dominant in the future. Its hard to kill a multi-billion company, they will also adopt for sure and it can be a better banking system in the future. We have to be focus on helping cryptocurrency to succeed for a more better future, we should not let anyone to destroy this market.

Will have a crypto dominance once people would used and invest crypto, and also the participation of the government. And it may take many years to come before we have that thing since crypto development still on going and due to some issues of its stability.

With that matter, banks will still remain in service and provide their functions knowing that they are the most reliable companies where we can stored our money safely. And I don't think that they against on crypto but maybe they are pursuing also to adopt the system.

Banks already have long experience in any politics, economic situation and always able to adapting. If peoples using crypto for transaction, banks will adapting in crypto world and right now, many banks already involve in crypto market

Banks will surely adapt crypto but not all are expected to do it because some banks will always be against crypto because crypto and banks have a different advocacy . crypto wants to be independent while banks are dependent . if i were to ask , id say im already contented on what banks and crypto has to offer . there is no need to replace the other older service for a new one because both service are already working fine as intented .

Already large financial institutions have invested on cryptocurrency indirectly. Banks won't adopt bitcoin, they might come up with the plans of adopting the technology. Already more banks have done it and under testing. Banks might add bitcoin as an added service, but this takes time as governments need to legalize the use of cryptocurrencies.

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Quote from: andika2018 on March 21, 2019, 08:26:02 PM

Quote from: Altero on March 21, 2019, 07:33:33 PM

Quote from: richminded on March 21, 2019, 07:02:54 PM

Quote from: Theentre on March 11, 2019, 01:41:30 PM

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

Bank will stay, but cryptocurrency will be more dominant in the future. Its hard to kill a multi-billion company, they will also adopt for sure and it can be a better banking system in the future. We have to be focus on helping cryptocurrency to succeed for a more better future, we should not let anyone to destroy this market.

Will have a crypto dominance once people would used and invest crypto, and also the participation of the government. And it may take many years to come before we have that thing since crypto development still on going and due to some issues of its stability.

With that matter, banks will still remain in service and provide their functions knowing that they are the most reliable companies where we can stored our money safely. And I don't think that they against on crypto but maybe they are pursuing also to adopt the system.

Banks already have long experience in any politics, economic situation and always able to adapting. If peoples using crypto for transaction, banks will adapting in crypto world and right now, many banks already involve in crypto market

Banks will surely adapt crypto but not all are expected to do it because some banks will always be against crypto because crypto and banks have a different advocacy . crypto wants to be independent while banks are dependent . if i were to ask , id say im already contented on what banks and crypto has to offer . there is no need to replace the other older service for a new one because both service are already working fine as intented .

andika2018

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Quote from: Altero on March 21, 2019, 07:33:33 PM

Quote from: richminded on March 21, 2019, 07:02:54 PM

Quote from: Theentre on March 11, 2019, 01:41:30 PM

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

Bank will stay, but cryptocurrency will be more dominant in the future. Its hard to kill a multi-billion company, they will also adopt for sure and it can be a better banking system in the future. We have to be focus on helping cryptocurrency to succeed for a more better future, we should not let anyone to destroy this market.

Will have a crypto dominance once people would used and invest crypto, and also the participation of the government. And it may take many years to come before we have that thing since crypto development still on going and due to some issues of its stability.

With that matter, banks will still remain in service and provide their functions knowing that they are the most reliable companies where we can stored our money safely. And I don't think that they against on crypto but maybe they are pursuing also to adopt the system.

Banks already have long experience in any politics, economic situation and always able to adapting. If peoples using crypto for transaction, banks will adapting in crypto world and right now, many banks already involve in crypto market

Altero

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Quote from: richminded on March 21, 2019, 07:02:54 PM

Quote from: Theentre on March 11, 2019, 01:41:30 PM

Decentralization. Everyone is talking about it. Can cryptocurrency lead to the disappearance of banks. Or will banks be able to adjust and remain in power?

Bank will stay, but cryptocurrency will be more dominant in the future. Its hard to kill a multi-billion company, they will also adopt for sure and it can be a better banking system in the future. We have to be focus on helping cryptocurrency to succeed for a more better future, we should not let anyone to destroy this market.

Will have a crypto dominance once people would used and invest crypto, and also the participation of the government. And it may take many years to come before we have that thing since crypto development still on going and due to some issues of its stability.

With that matter, banks will still remain in service and provide their functions knowing that they are the most reliable companies where we can stored our money safely. And I don't think that they against on crypto but maybe they are pursuing also to adopt the system.

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