Banks will die crypto will take over in 5-10 years - page 11.

jostorres

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Quote from: spy100 on November 10, 2021, 05:18:48 PM

Banks will die crypto will take over in 5-10 years

Why ? They are starting to ask to many personal questions and monitoring people like they are criminals / terrorists etc ...even if they are not ...
Govs want to much control on people...the world is becoming very strange and it all started with 9/11 attacks ... to many coincidences

Even banks are not showing interest in cryptocurrency. I don’t really think banks are going to die off just like that, there will also be people who are still interested in making use of banks, maybe people who find it very difficult to navigate through the use of crypto currency. But, for those of us who would be able to manage their finances by themselves, it wouldn't be bad if we do that by choosing crypto.

It is all about choice, if you think it would be best for you to put all your money in cryptocurrency and you’re ready to take the risk, then you can go ahead and do that. But if you still look at things the other way round, you would see that in a way you still need the services of banks in some areas, why cryptocurrency especially Bitcoin continues to play its own part in the areas that it would fit in best.

RealMalatesta

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Quote from: Taskford on November 12, 2021, 05:58:01 AM

For sure those things what in your mind will not happen since for sure government is just making an audit to see if this is safe to be used by their citizens since knowing that bitcoin is been tag as currency used by criminals, but even if those things came first before this good things happening on this coin still we don't see any of them completely ban its usage to their respective country. And there's no freedom taken on this since anyone could use bitcoin after all.

I just love it when people are into crypto that much. I do not care how wrong they are, instead of people saying "bitcoin will die eventually", I like to see people saying "bitcoin will take over the world!!!!".

We know that both of them are wrong, we know that it will neither die nor take over the world, we know that it will grow in a good manner and be a good alternative to use as an option for whoever prefers it and that's it, we know that people may continue to make a profit from it, doubtful to make profit like the people who bought bitcoin for few cents, but still could make a decent profit. However, I still prefer these type of wrong people, at least they are hyping bitcoin like crazy.

geegaw

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Quote from: Semar Mesem on November 12, 2021, 03:00:22 AM

I haven't heard that crypto can dominate transactions in the country even though it has been legalized like El Salvador, of course I don't want to see changes that are too fast because changes that are too fast will cause a lot of losses such as unemployment because banks are closed, let everything pass slowly so it's easier to adapt .

As EI Salvador is at the forefront of crypto adoption combined with crypto's rise this year, doubts about the bank's opportunities and future become negative, more precisely, the bank's mission is being criticized and downgraded by many public opinion, creating more space for crypto but as you have seen, internet dominance can be very high for crypto but the presence of banks and utility payments with banks is not less. Adapting to crypto is a story sooner or later but adaptation here tends to be a profitable investment industry, not the meaning of adapting to replace and destroy banks, banks are indispensable.

LogitechMouse

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Most of the people out there are using banks to save their money and because they trust the banks because it is the place where they store their money, they aren't afraid to share their personal information to them. Its almost the same as Binance users sharing their personal information to them just to have access to their services. Banks need your information if you want to access their services as well.

Now with regards to banks dying in 5-10 years, I don't think that it will happen but I think what they will do is just they will adopt to what is happening to the financial industry. If crypto will change the financial industry then the banks must adopt if they want to stay or else, they will end up useless (at least for some). Overall, I think that banks will adopt if something will change especially if crypto will change how we are right now. They will not die because its their business and they need to adopt or they will lose their money.

famososMuertos

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Well ... wait, if you open with that apocalyptic context of the XXI century, we fall into a matrix that is not so real if we compare it with other periods or centuries. For example, without going too far, we had two world wars, atomic bombs, and a great many more in the 20th century.

I do not believe that banks will disappear in five or ten years and even less that crypto take control, it is not that I am against this idea, we all want and believe that things are not fair with traditional banking in fact we live it to daily and that there must be a change.

Now, although I am attached to the ideals of bitcoin in what it represents as a revolutionary technology, that does not imply that we should destroy or that it is used with those purposes.

In fact, if such a thing has not emerged in these 10 years, I do not think that such a thing will arise in another 10, now well and a progressive change is already happening in the advance of bitcoin in many areas, then the banks far from being "eliminated" are part of that process, regrettable but for now there is no other way.

Anonylz

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Quote from: spy100 on November 10, 2021, 05:18:48 PM

Banks will die crypto will take over in 5-10 years

Why ? They are starting to ask to many personal questions and monitoring people like they are criminals / terrorists etc ...even if they are not ...
Govs want to much control on people...the world is becoming very strange and it all started with 9/11 attacks ... to many coincidences

To many things happened in 2 decades :
Terrorists attacks / Wars on Terror / Arab spring / SARS / Climate Change / Covid / Global trade problems and so on ...

Before 2001 life was normal ...does how are older remember ... now they are not even hidding it / no longer in the shadows what they are trying to do ...

Is it just to take peoples freedom for the "greater good" ? Will people allow their freedom to be taken ?

If this are your reasons then i highly doubt it will happen, are you just realizing the way banks work or what! banks always ask personal questions before you can own an account afaik, so what is new?
how is the bank responsible for what is happening since 2 decades ago? what makes you to think that even with only crypto existing that this things will not still happen or happen after banks demise?
before 2001 banks were already in existence how come they were not a threat back then? too much freedom will come with a price, careful what you wish for.

maydna

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I do not think banks will die in 5-10 years later as the banks are one product from the government. The government does not want to see their product will die and will do many things they can to still exist among the people. Maybe the government will modify the system and who knows, the government will try to integrate the system with the blockchain so the banks can evolve into the blockchain.

If the government allows people to use crypto and make sure the banks still exist, people will have the freedom to manage their finances and not just depend on the banks.

Taskford

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Quote from: spy100 on November 10, 2021, 05:18:48 PM

Banks will die crypto will take over in 5-10 years

Why ? They are starting to ask to many personal questions and monitoring people like they are criminals / terrorists etc ...even if they are not ...
Govs want to much control on people...the world is becoming very strange and it all started with 9/11 attacks ... to many coincidences

To many things happened in 2 decades :
Terrorists attacks / Wars on Terror / Arab spring / SARS / Climate Change / Covid / Global trade problems and so on ...

Before 2001 life was normal ...does how are older remember ... now they are not even hidding it / no longer in the shadows what they are trying to do ...

Is it just to take peoples freedom for the "greater good" ? Will people allow their freedom to be taken ?

For sure those things what in your mind will not happen since for sure government is just making an audit to see if this is safe to be used by their citizens since knowing that bitcoin is been tag as currency used by criminals, but even if those things came first before this good things happening on this coin still we don't see any of them completely ban its usage to their respective country. And there's no freedom taken on this since anyone could use bitcoin after all.

cryptomaniac_xxx

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Quote from: Ngewex Yuk on November 12, 2021, 05:33:16 AM

I think it took us more than 20 years to take over from banks, especially in developing countries internet usage is still low so there are still many people on earth who have not heard of cryptocurrencies, besides that it takes time for parliament to make laws and the process of transitioning the financial system of course takes time. long time.

Maybe crypto will take some customers out of the banking system and shift to crypto to hold their assets and wealth. But that will be a big risk for people who are not technically inclined, so it will be a big challenge for them.

But for those who doesn't want to be their own bank, then they will have to choose the banking institutions. So I doubt that it will even take 20 years for them to disappear because they are not. They will remain even if crypto will be recognized by many countries around the world.

Gozie51

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Quote from: Semar Mesem on November 12, 2021, 03:00:22 AM

I haven't heard that crypto can dominate transactions in the country even though it has been legalized like El Salvador, of course I don't want to see changes that are too fast because changes that are too fast will cause a lot of losses such as unemployment because banks are closed, let everything pass slowly so it's easier to adapt .

Banks and cryptocurrency may exist with each other and not that cryptocurrency will close down banks because there are mode of operation that banks do as it works with government and government has a duty to control of the citizen so for the mention of this fact, the government will keep fighting cryptocurrency for its traditional leadership role. And now most government are creating a digital aspect of theur currency which is a way of remaining in the affairs of digital economy.

Ngewex Yuk

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I think it took us more than 20 years to take over from banks, especially in developing countries internet usage is still low so there are still many people on earth who have not heard of cryptocurrencies, besides that it takes time for parliament to make laws and the process of transitioning the financial system of course takes time. long time.

mitchr4

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Quote from: Semar Mesem on November 12, 2021, 03:00:22 AM

I haven't heard that crypto can dominate transactions in the country even though it has been legalized like El Salvador, of course I don't want to see changes that are too fast because changes that are too fast will cause a lot of losses such as unemployment because banks are closed, let everything pass slowly so it's easier to adapt .

Banks will still exist. People are familiar with banking system. Banks have benefits that crypto doesn't have. Cryptocurrencies are too risky to replace banks because of their anonymous use and can lead to financial crimes as well.
El Salvador not yet have an official currency and still uses the US dollar. That is why they accept Bitcoin as their transaction. But in fact people in El Salvador still struggle to use Bitcoin as their main transaction many people don't know how Bitcoin works and protest about the adoption of Bitcoin because potentially increase financial crime and fluctuating prices.

Reid

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Social media really opened the eyes of the people. Then, the usage of internet is now in its maturity form.
We don't rely on gossips anymore, we can gain information by clicks or types away from our keyboards with a computer connected to the internet.
They can tell lies using words in newspaper or just attack the editor to write a different thing but now the people want videos for proofs if something is not right.
To gain access with anything sure does help but its also scary in a way. Banks will stay, an industry that holds money for people who cannot use crypto is still in a high percentage.

Semar Mesem

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I haven't heard that crypto can dominate transactions in the country even though it has been legalized like El Salvador, of course I don't want to see changes that are too fast because changes that are too fast will cause a lot of losses such as unemployment because banks are closed, let everything pass slowly so it's easier to adapt .

topbitcoin

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Really doubt if bank can die easily, because we can see people behind them can do anything they want. Crypto already created in years, and i think as long we still can use it, is already good for us. Don't need to disrupt fiat which already be used for really long time, because will need more adaption, more process, more resources to change main payment of the world.

karanggatak

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time flow, era will follow no matter what.
in many past year, we dont know about crypto, but now we said that the opponent will be destroy. actually, the obstacle know how to stand, how to survive. they always stand above or below the subject.
in my place, bank never ask about that one, but they will ask 'what do you do for living', just for formality.

Oasisman

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Quote from: spy100 on November 10, 2021, 05:18:48 PM

Banks will die crypto will take over in 5-10 years

Why ? They are starting to ask to many personal questions and monitoring people like they are criminals / terrorists etc ...even if they are not ...
Govs want to much control on people...the world is becoming very strange and it all started with 9/11 attacks ... to many coincidences

To many things happened in 2 decades :
Terrorists attacks / Wars on Terror / Arab spring / SARS / Climate Change / Covid / Global trade problems and so on ...

Before 2001 life was normal ...does how are older remember ... now they are not even hidding it / no longer in the shadows what they are trying to do ...

Is it just to take peoples freedom for the "greater good" ? Will people allow their freedom to be taken ?

Good luck to that kind of perception.
Banks has been like than since. Personal information are always gonna be the main concern when you're opening a bank account. It's not that it's something new.
Whether you like it or not, banks are always here to stay.
Infact, banks are slowly adapting to cryptocurrency. So, what made you think banks will disappear in the future?

If you think banks are asking too much personal information, then wait until majority of the crypto exchange and trading platform is regulated.

Wong Gendheng

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Quote from: llooafer on November 11, 2021, 10:35:10 PM

Banks will not disappear. Banks represent the government. The government may launch its own country's digital currency, but cryptocurrency cannot replace banks. Many people still don't believe in cryptocurrencies. They believe in banks and store their money in the bank, even if they cannot make additional profits.

exactly, banks certainly have a different function than cryptocurrencies, even though the use of cryptocurrencies is increasingly massive but I also believe that banks will continue to be protected by the state because the dependence of the public and businesses on banks is very high, for example lending.

llooafer

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Banks will not disappear. Banks represent the government. The government may launch its own country's digital currency, but cryptocurrency cannot replace banks. Many people still don't believe in cryptocurrencies. They believe in banks and store their money in the bank, even if they cannot make additional profits.

Rruchi man

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5-10 years is really short duration for this your prediction. However, I completely understand your school of thought and i'd rather say the that the banking systems will evolve rather than completely disappear. Things are changing quickly and in 5-10years time if we are still alive, we will have witnessed massive changes, improvements and development in all systems, the banking industry will not be left out.

Topic: Banks will die crypto will take over in 5-10 years - page 11. (Read 1262 times)