Banks against the crypto - page 14. | Bitcointalksearch.org

Ranly123

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Quote from: Theentre on March 11, 2019, 12:41:30 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 remain in power since they are the foundation of the monetary system in a country. Crypto exist not to replace banks but to make people have other option on to where they can invest their money other than banks.

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Quote from: befriendmywater on March 15, 2019, 08:51:28 AM

Quote from: Theentre on March 11, 2019, 12:41:30 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?

They must definitely adjust the trading system and optimize the benefits for customers. sooner or later, banks must also need blockchain technology to upgrade their trading systems.
crypto is still incomparable to banks because its structure is quite complicated and it is a big barrier for many people who do not understand much about technology.

Again, banks will never disappear especially right now that many banks now are supporting cryptocurrency and they’ve already adopt blockchain technology. With a help of the top altcoin XRP, i think its more possible to gain the attention of banks. If there’s more bank adopts blockchain, i think the trust of the public will back to them.

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Quote from: goaldigger on March 15, 2019, 05:42:22 PM

Quote from: Theentre on March 11, 2019, 12:41:30 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?

Its more likely that a bank can adopt to cryptocurrency rather than make it obsolete. Bank is still a private company and businessman doesnt want their business to be forgotten. In this case, they should now how they fit on the growing environment of cryptocurrency.

therefore in a long time the bank will definitely continue to ban crypto in countries because the bank is definitely a year if the paper currency will not be used again in the presence of an easy digital currency to use transactions

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Quote from: Sebas.tian on March 16, 2019, 01:47:09 AM

They don't need to replace the one or the other, they should co-exist to cater the varying needs of the people. Some prefer to use banks and other uses the services of cryptocurrency. Each of them also has flaws and they could complement each other.

I dont think that they could compliment each other. Banks are businesses funded by millionaires and backed up by the government. Banks are transparent enough to pay taxes and can resolve issues if your account has been breach or somewhat.

Banks can only adapt to their system of crypto currency so that when moving money it wont be a hassle to their clients, even if its cross banking.

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They don't need to replace the one or the other, they should co-exist to cater the varying needs of the people. Some prefer to use banks and other uses the services of cryptocurrency. Each of them also has flaws and they could complement each other.

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Quote from: Theentre on March 11, 2019, 12:41:30 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?

Its more likely that a bank can adopt to cryptocurrency rather than make it obsolete. Bank is still a private company and businessman doesnt want their business to be forgotten. In this case, they should now how they fit on the growing environment of cryptocurrency.

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Well, I see no reason why banks would remain except for nationalistic reasons or assisted by government with financial aid.

However, they could transform from holding fiat currencies for customers to holding cryptocurrency currencies.

I also believe a strong competition from cryptocurrency could see governments going defensive or adopting protectionism.

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I don't think things are as simple as banks vs crypto. Banks made sure that crypto is not against them by turning it into something people could make a bit of money and instead of transaction greatness crypto has it is now an investment thing.

Back in the day banks didn't love bitcoin because it was mostly used by people to use instead of dollar and thanks to bitcoin being decentralized and can't be controlled banks wouldn't be capable of taking advantage of bitcoin like they do with fiat and governments, they couldn't bribe their way into more money.

Now everyone is after buying bitcoin at right price and selling bitcoin at right price to get richer which works out the best for banks because many people make money but many more lose money at the same time.

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Quote from: Theentre on March 11, 2019, 12:41:30 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?

the bank disappeared because the crypto in my opinion is not possible in my opinion the bank will adopt the economic system used by the crypto currency in my opinion

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That is certainly because the one that is still difficult for Bitcoin can be accepted by the country because its influence is a bank, the solution with the Bitcoin bank is that it does not like and prohibit because they are afraid that the community will use digital currency instead of paper currency even though until whenever the paper currency will definitely be used continuously

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Quote from: Theentre on March 11, 2019, 12:41:30 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?

They must definitely adjust the trading system and optimize the benefits for customers. sooner or later, banks must also need blockchain technology to upgrade their trading systems.
crypto is still incomparable to banks because its structure is quite complicated and it is a big barrier for many people who do not understand much about technology.

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Quote from: Capt00 on March 14, 2019, 10:49:29 AM

Here is my own opinion about why the banks afraid of crypto. First thing is about the financial system, crypto can save your fiat without depositing on the bank and second is the banking system. If everyone would invest and save their fiat to cryptocurrency banks is nothing and no one who use banks. Indeed, they are afraid that soon cryptocurrency will their biggest competitor when it comes financial and banking system.

- You have talked about many advantages and outstanding features of crypto compared to banks, even said that crypto is almost a competitor and it will probably replace the bank but you should look at everyone's choice, what you are appreciating, it is not everyone's choice, almost everyone chooses the bank. No one intends to abandon banks and switch to crypto because banks and governments have a special relationship, it creates trust and credibility for users, even ensuring that our money won't have any risks, so the bank is not against crypto, crypto is not considered a rival of the bank

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yeah. crypto and blockchain based currencies have started to become a very good alternative to traditional banking and financial items. I am sure crypto will become more powerful against banks day by day.

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Quote from: Indrawan77 on March 15, 2019, 12:30:29 AM

Crypto can't make the bank disappear, and government won't allowed crypto to replace bank, bank is a vital component to the country, it can balance the inflation and maintain the economic situation, if in the future the country want to adopt crypto then, bank need to adjust the system to the crypto, and I think bank should collaborate with crypto to create a better economic system

Yes, that is right. I only think that the banks will integrate their banking system with crypto so they can give more value to the member and they can serve the member with better services. With all connected with crypto, it will bring a new step for the banking itself because they don't have to make a complicated report in their system and all they need is to check in the blockchain and to match the report with the transaction.

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Quote from: Viscore on March 15, 2019, 01:55:18 AM

Quote from: St4yInTh3D4rk on March 15, 2019, 01:35:29 AM

Quote from: jhongzjhong on March 15, 2019, 01:26:49 AM

But I think not all banks having the same perspective on crypto there are some other supportive on crypto.

No bank is going to support crypto when it was created with the intention of destroying them and there are many conspiracy theories says that all the banks in the world controlled by certain group of people so all banks will just have same opinion about crypto currencies.

But the question is, is it really created to destroy bank?

I guess not, bank still has more adoption compared to crypto and it's impossible to eliminate banks in this world because of crypto, unless people are using crypto as their money for daily transaction.

That scenario is impossible, many will still choose to use paper money and banks produce that.

IMO,the cryptos were created to eliminate third part while doing transactions so yes it was created to eliminate banks.

Banks also created few centuries ago,before that there were different kind of payment system we had so the chances of replacing the current system with the new also possible.Many people uses banks but they they have no need for that the banks will eventually get disappear.

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Quote from: vintages on March 14, 2019, 09:51:43 AM

Quote from: CryptoHunter24 on March 14, 2019, 08:16:22 AM

Cryptocurrency can have partnership with banks, i never think that banks will disappear in the future, I just think possible partnerships might happen, and when this time come this will be great for everyone

Exactly! People need to step up and live in reality. The bank can't go away. To say that the bank will disappear this means or saying that Fiat will disappear also and it's impossible!
Just like we have exchanges where we sometimes store cryptos (not advisable though) and trade cryptos, we have the bank. They can only hope that the two works in hand.

Right, I think we should leave that kind of thought, fiat that you use every day and we are very dependent on fiat, regulated and controlled by the central Bank. how can the bank disappear while we really need fiat? in fact, the bank can work partnership with crypto right?

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Quote from: andriarto on March 15, 2019, 02:01:02 AM

between banks and crypto have a contradictory system, for now, of course the bank seems to reject crypto to be used as a currency. moreover every user has their own wallet that functions like a bank. but with the development of technology, of course we hope for collaboration between the two in order to walk together

What system is that? Banks are centralized but crypto could be.
Crypto is only decentralized when processing transaction but we need to rely on banks to cash out our bitcoins into fiat.
They can work together, banks as specific owners while crypto is just a system, hopefully with crypto we can help bank to be more transparent
as we all know that crypto is 100% transparent.

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Quote from: St4yInTh3D4rk on March 15, 2019, 01:35:29 AM

Quote from: jhongzjhong on March 15, 2019, 01:26:49 AM

But I think not all banks having the same perspective on crypto there are some other supportive on crypto.

No bank is going to support crypto when it was created with the intention of destroying them and there are many conspiracy theories says that all the banks in the world controlled by certain group of people so all banks will just have same opinion about crypto currencies.

between banks and crypto have a contradictory system, for now, of course the bank seems to reject crypto to be used as a currency. moreover every user has their own wallet that functions like a bank. but with the development of technology, of course we hope for collaboration between the two in order to walk together

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Quote from: St4yInTh3D4rk on March 15, 2019, 01:35:29 AM

Quote from: jhongzjhong on March 15, 2019, 01:26:49 AM

But I think not all banks having the same perspective on crypto there are some other supportive on crypto.

No bank is going to support crypto when it was created with the intention of destroying them and there are many conspiracy theories says that all the banks in the world controlled by certain group of people so all banks will just have same opinion about crypto currencies.

But the question is, is it really created to destroy bank?

I guess not, bank still has more adoption compared to crypto and it's impossible to eliminate banks in this world because of crypto, unless people are using crypto as their money for daily transaction.

That scenario is impossible, many will still choose to use paper money and banks produce that.

St4yInTh3D4rk

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Quote from: jhongzjhong on March 15, 2019, 01:26:49 AM

But I think not all banks having the same perspective on crypto there are some other supportive on crypto.

No bank is going to support crypto when it was created with the intention of destroying them and there are many conspiracy theories says that all the banks in the world controlled by certain group of people so all banks will just have same opinion about crypto currencies.

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