Banks against the crypto - page 6. | Bitcointalksearch.org

BeGoods

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Quote from: MFahad on April 17, 2019, 11:47:42 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?

It is true, banks have power and banks have power because of government give them, and crypto currency can't lead to disappear of banks. Actually in every country Government take decision and government can't disappear banks, that's why in few countries government not accept crypto currency.

What the government does because they try to maintain economic stability in their countries, keep local currency and banks in use, they are afraid of crypto. even though I think that crypto would not be able to defeat banks and the government

BitDane

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I think it may be on the neutral side, people tend to adjust and as well as the system. Banks can and will be able to adapt to bitcoin as it should be because it our way of circulating money. It will be also nice for bitcoin as it may be of common use in the future. Decentralization can still happen but sooner or later things change to adapt.

Botnake

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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?

Bank will win in today's status there are still many people out there that doesn't know about bitcoin and other cryptocurrency. Also the decentralization of bitcoin would be a problem by the government so they can't let banks disappear. It will be just a matter of time for it to win by cryptocurrency.

The same in the future, I guess.
Bank cannot loss power as it's a big industry, crypto is quite new and it's potential in the future is good but it's hard to beat bank.
They are regulated, the government makes money from their operation, from taxes and other source.

adamlillian

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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 need to consider the battle between them and Blockchain technology businesses. it is certainly a disproportionate confrontation. In the future, blockchain technology will be easier to use and it can easily reach many customers.
Banks will have to buy blockchain technology to serve customers and that's the only solution if they want to survive.

yvesp110

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Quote from: MFahad on April 17, 2019, 11:47:42 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?

It is true, banks have power and banks have power because of government give them, and crypto currency can't lead to disappear of banks. Actually in every country Government take decision and government can't disappear banks, that's why in few countries government not accept crypto currency.

No this is not reality, banks are not that common now a day we can see this forum the people are mostly in favor to store money in crypto currency not in bank because banks does not give profit higher than crypto currency, we should educate people that crypto currency is beneficial and banks are gonna get vanish very soon.

Babylon

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They are against the cryptocurrency because they know that the people are now losing interest in banks because they are not satisfy anymore to the interest and also to the offers of the banks while the cryptocurrencies are offering a higher interest for their money in terms of profit making by just investing in a decentralized cryptocurrency like bitcoin.

lobster88

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I have a little glimpse on it that in the coming future, no doubt that the banks will be hardnto survive in the current way of the financial system that will maximize the use of digital ways and techniques that will let us and give us the best experience.

Ziskinberg

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Quote from: barota on April 19, 2019, 05:56:31 PM

of course because the number of investor in bank will decrease when everyone invest in crypto And therefore. Decrease in interest
Banks use money of investors in other projects for this reason they want lot of investor

I'd like to see that but I'm sure it will not happen.
Crypto will be just around the corner, however we have to power to dominate the fiat system.
Banks are printing paper money, it's all useful for everyone as its easy to use and not volatile, crypto is volatile so not everyone can use it.

Abiky

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Quote from: CandyIzDelicious on April 17, 2019, 07:01:54 AM

In my opinion the bank will never disappear, because banks are very strong and have spread throughout the world, so even though cryptocurrency may be sophisticated, it still cannot eliminate banks.

Agree. Banks will still exist even if cryptocurrencies are a popular medium of exchange these days. The reason for this is obvious, since Banks have all the backing of the government. Not to mention, Banks are trusted among people in the mainstream world for quite some time now. At first, Banks were against crypto largely because they're much cheaper to use, and transactions are performed without a middleman.

But now that Banks have discovered the benefits of Blockchain technology, they've started using it for themselves. Consider Ripple's latest partnerships among several renowned Banks worldwide, as the latest movement in the world of finance. Before we know it, Banks will fully adapt towards using Blockchain technology making them similar to cryptocurrencies. The only difference would be, that Banks' Blockchain ledger will be centralized, while crypto will be completely decentralized as it is right now.

Nonetheless, I believe that Banks and crypto will live alongside each other for many years to come. It's not about crypto, but more about Blockchain technology as most Banks and governments have been interested in it. Just my thoughts Grin

barota

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of course because the number of investor in bank will decrease when everyone invest in crypto And therefore. Decrease in interest
Banks use money of investors in other projects for this reason they want lot of investor

Best Dreams

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Quote from: Duzter on April 17, 2019, 01:33:27 PM

As an user stated the banking ecosystem and cryptocurrency ecosystem is completely different. Banks against the cryptocurrency is there, but the same doesn't mean that banks were with the intention to destruct the growth of cryptocurrency. At present some services weren't possible to be provided by banks, and the same will be fulfilled by cryptocurrency. Banks show opposition at times due to the loss faced due to the increasing usage. By now banks too have begun to adopt the technology to grow along with cryptocurrency.

For me it is already almost finish now, as in entire world now there are some banks which are running good, but the small lever banks are now almost finish because people are interested in new technologies so they are investing in it and they are investing for good profit, saving money is banks is foolish and useless act.

playbtcgame

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Most banks are almost down due to cryptocurrency. I remember when I was told to make some verifications at the bank since they thought the money I came to put there wasn't mine so I didn't take to easy in withdrawing so since then,I haven't made any investment with banks.

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Quote from: Natalim on April 18, 2019, 12:09:32 AM

Quote from: MFahad on April 17, 2019, 11:47:42 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?

It is true, banks have power and banks have power because of government give them, and crypto currency can't lead to disappear of banks. Actually in every country Government take decision and government can't disappear banks, that's why in few countries government not accept crypto currency.

Bank has the privilege but does not have the power, only the government has because they are the one who creates law and implement.
Although banks are operating profitably and they are the largest in the industry of finance, they are still guided by the law created for them.
If they abuse their privilege, they will be penalize.

right, the government has the right to set policies, and I think the government will think hard to make a law on this matter. like in my country where crypto is planned to only enter the market, and not to transact

Natalim

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Quote from: MFahad on April 17, 2019, 11:47:42 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?

It is true, banks have power and banks have power because of government give them, and crypto currency can't lead to disappear of banks. Actually in every country Government take decision and government can't disappear banks, that's why in few countries government not accept crypto currency.

Bank has the privilege but does not have the power, only the government has because they are the one who creates law and implement.
Although banks are operating profitably and they are the largest in the industry of finance, they are still guided by the law created for them.
If they abuse their privilege, they will be penalize.

MFahad

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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?

It is true, banks have power and banks have power because of government give them, and crypto currency can't lead to disappear of banks. Actually in every country Government take decision and government can't disappear banks, that's why in few countries government not accept crypto currency.

reality18

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Not all the banks are against crypto. Some banks understand the advantages of crypto hence have integrated crypto services into their services. On the other hand, some banks do not like crypto because it cause a major disruption in their services. This is because when the people get to understand crypto, there will be no need for the banks - crypto gives financial satisfaction and financial freedom to the people through its decentralized nature and this make the people the in-charges of their own transactions without any third party involvement.

Leoeco

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I think the role of the bank may change to another form but it will not be disappeared.

Cherylstar86

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Quote from: travwill on April 17, 2019, 02:49:43 PM

It is much more profitable for banks to put cryptocurrency into their service, through centralization, otherwise they can really lose. Bank owners are extremely smart, cunning and enterprising people who are able to change the course of the game on the market.

For the meantime, some banks does not accept bitcoin due of protocol they have followed, but time will come and they will accept cryptocurrency for having a good collaboration in their field. Crypto was launched as a liable ecosystem that provides wealth in accommodate way. Yet the era is still running, maybe the two aspects can work together in different feature.

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Quote from: IParn on April 17, 2019, 01:43:09 PM

It seems to me that even the era of cryptocurrency simply did not come. And until the banks accept the cryptocurrency, there will be banks. And this is neither good nor bad, this is normal.

The era has come and it is going. We don't even need the banks to accept cryptocurrency but time will come that they will announce it soon. Crypto's are unlikely to make the banks disappear because of the situation right now. But once the gov't starts to recognize that everyone can be his/her own bank, what's the sole purpose of banks? they can now determine that their main purpose is to keep on lending people and deposits will reduce on their part.

travwill

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It is much more profitable for banks to put cryptocurrency into their service, through centralization, otherwise they can really lose. Bank owners are extremely smart, cunning and enterprising people who are able to change the course of the game on the market.

Topic: Banks against the crypto - page 6. (Read 11988 times)