Topic: Banks against the crypto - page 7. (Read 11994 times)
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.
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.
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.
Decentralization is one system that tries to be applied in various fields. including financial transactions, but I believe this system will not erase or defeat the bank system that has been running for a long time. and Decentralization is not made for this.
This 2 things will work together in the future for sure,banks cant just disappear because of one asset created by unknown person with a cover name of satoshi nakamoto.If bitcoin become mainstream in the market bank can surely adjust to that situation and still overpower bitcoin
If these two systems will work together then you should forget the free and open ecosystem that blockchains provide right now.
A combination of the two is going to bring big regulation and we will not be able to enjoy the freedom that exists in all the projects and the transactions that can be done with them.
This 2 things will work together in the future for sure,banks cant just disappear because of one asset created by unknown person with a cover name of satoshi nakamoto.If bitcoin become mainstream in the market bank can surely adjust to that situation and still overpower bitcoin
If these two systems will work together then you should forget the free and open ecosystem that blockchains provide right now.
A combination of the two is going to bring big regulation and we will not be able to enjoy the freedom that exists in all the projects and the transactions that can be done with them.
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?
I think crypto will dominate the banks. or businesses in crypto will use blockchain technology to serve customers at cheap rates and classic banks will die. In short, in the future, banks must soon improve their money transfer service if they do not want to die. 
But we should not forget that banks infrastructure is too big and can manipulate market. But if crypto growing more bigger and many project success deliver their product, i think banks will adopting cryptocurrency into their bussiness
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?
I think crypto will dominate the banks. or businesses in crypto will use blockchain technology to serve customers at cheap rates and classic banks will die. In short, in the future, banks must soon improve their money transfer service if they do not want to die. But we should not forget that banks infrastructure is too big and can manipulate market. But if crypto growing more bigger and many project success deliver their product, i think banks will adopting cryptocurrency into their bussiness
The decentralization might become popular in the future, but it will not replace the bank in the financial system.
Bank is very powerful, the fact that they create money and we have a bank which are govern and owned by the government, we are talking of their interest at risk here, so do you think they will allow the decentralization to take place and they will loss power? I don't think so.
Bank is very powerful, the fact that they create money and we have a bank which are govern and owned by the government, we are talking of their interest at risk here, so do you think they will allow the decentralization to take place and they will loss power? I don't think so.
Exactly. Banks are too big to fail. Despite that decentralization provides many benefits, it lacks the trust and backing of a custodian or financial institution with the means of protecting users' funds. The only reason why Banks have been against crypto in the first place, it's because crypto provides freedom to the people (not to mention that third parties are no longer needed on them). However, what Banks are not against is the underlying technology of most cryptocurrencies in existence.
This underlying technology known as the Blockchain, has become the biggest hit since it emerged. Given that Blockchain provides transparency, greater efficiency, and the ability to control who gets access to the network (if centralized), it has become very attractive for Banks worldwide. For this reason, Banks will not be going anywhere as they will embrace this revolutionary technology at its fullest. Not to mention, Banks still have the backing of governments worldwide.
Therefore, Banks will always be against crypto but not against Blockchain technology itself. Just my opinion
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?
I think crypto will dominate the banks. or businesses in crypto will use blockchain technology to serve customers at cheap rates and classic banks will die. In short, in the future, banks must soon improve their money transfer service if they do not want to die. 
This 2 things will work together in the future for sure,banks cant just disappear because of one asset created by unknown person with a cover name of satoshi nakamoto.If bitcoin become mainstream in the market bank can surely adjust to that situation and still overpower bitcoin
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 will adjust, but not all of them. The simple solution for banks is to embrace Austrian economics and go full reserve banking, they could also join exchanges and provide the bridge during the transition from fiat to crypto era, which might take a century.
"Remain in power" is a misnomer, perhaps their power is getting weaker, perhaps. Usually fiat currencies are controlled by the State rather than private banks, but there are exceptions such as Hong Kong where its 4 private bank groups that take care of the HKD.
They can still do lending, but they have to do it using full reserve rules. That is, no making money out of thin air. If a customer decides to open a lending account, and the bank lends it to another customer, that money becomes unavailable doing that period.
Of course they can still do plenty business, such as finance, credit, and safe keeping; again using full reserve rules.
I believe that we will see the times when banks will start to work with the cryptocurrencies. People will finally understand that Bitcoin was given to us to make our life a bit better.
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 not even need to adapt. Cryptocurrency does not affect the world around as much as many people think. She will remain at the level of one of the non-cash forms of payment and can only go along with the national currencies of the states.Nothing threatens banks from cryptocurrency at all. At a minimum, they will provide fiat cryptocurrency exchange services, as well as perform other operations with cryptocurrency if it is beneficial to them.
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 will adjust, but not all of them. The simple solution for banks is to embrace Austrian economics and go full reserve banking, they could also join exchanges and provide the bridge during the transition from fiat to crypto era, which might take a century.
"Remain in power" is a misnomer, perhaps their power is getting weaker, perhaps. Usually fiat currencies are controlled by the State rather than private banks, but there are exceptions such as Hong Kong where its 4 private bank groups that take care of the HKD.
They can still do lending, but they have to do it using full reserve rules. That is, no making money out of thin air. If a customer decides to open a lending account, and the bank lends it to another customer, that money becomes unavailable doing that period.
Of course they can still do plenty business, such as finance, credit, and safe keeping; again using full reserve rules.
It could on any state that full hold Cryptocurrency on the other hand I greatly dubiety whether it could wholly create deposit vanish all the more administration are hooked on cants and any deposit is owned close to the administration, they desire hold on existent they buoy lettuce be or they buoy make their have disc.
Deposit desire never vanish as of cryptocurrencies and we get to recognise that representing cryptocurrencies to modernise banking organizations have to be included and it have to decentralised. Bitcoin has proved to be a process deposit buoy victimized.
For now, the banks can still go on its way even the crypto currency is on its way too. The decentralization is one of the best thing I want and gladly be in our future of financial institution. For me there is high possibility that the in the coming future the revolution of crypto currencies will come at hand and be availabe around the globe.
The decentralization might become popular in the future, but it will not replace the bank in the financial system. Bank is very powerful, the fact that they create money and we have a bank which are govern and owned by the government, we are talking of their interest at risk here, so do you think they will allow the decentralization to take place and they will loss power? I don't think so.
Banks will certainly follow government policies, if the government banned bitcoin, the bank will never accept bitcoin,
I doubt it that banks will 'never' accept bitcoin. Ofcourse it's a policy that the banks should follow if ever the gov't will have that kind of policy.
and this is what makes the development of bitcoin is very slow.
Your standard is too high, progress and development of bitcoin isn't slow.
For now, the banks can still go on its way even the crypto currency is on its way too. The decentralization is one of the best thing I want and gladly be in our future of financial institution. For me there is high possibility that the in the coming future the revolution of crypto currencies will come at hand and be availabe around the globe.
I ambition cants desire admit cryptocurrency representing costs in forthcoming or desire decrease their profits gross and slowly die. VISA, MasterCard desire admit crypto pay with deposit playing-card rather or next as they assume 't wish to miss profits.
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