On the long run, its likely bitcoin will replace banks.
It will be similar to machines replacing animals in farming and machines replacing workers in the industrial revolution.
Topic: Bitcoin is it the Future of Banking ? - page 27. (Read 5914 times)
Maybe i think this is possible, however there shall be a rigid country or bank that can accomodate bitcoins and controls normally the rising and lowering of the prices from time to time, this can be a difficult task but it is still possible to have a bitcoin bank.
Bitcoin has proven beond all reasonable doubts to cause a major disruption in the banking systems some years to come. As more and more people get to know the concept and understand its significance, the paradigm shifts from the banking to Bitcoin investment.
I guess cryptocurrency will come to dominate someday overtaking fiat usage. We are now in digital era where blockchain technology was introduced to further enhance e-commerce and monetary aspects of our economy. I won’t be surprised at all if cryptocurrency will replace our current banking method since it offers numerous benefits and advantages in terms of financing issues.
Actually we could already compare bitcoin to banking wherein we could also do depsosits by cashing-in then holding it and withdrawal through cashing-out. With further development and studies along with the advanced technology butcoin could be the furure of banking.
I guess cryptocurrency will come to dominate someday overtaking fiat usage. We are now in digital era where blockchain technology was introduced to further enhance e-commerce and monetary aspects of our economy. I won’t be surprised at all if cryptocurrency will replace our current banking method since it offers numerous benefits and advantages in terms of financing issues.
Yes ,I think that in the future it will be possible to safely store bitcoin in the Bank, using new security technologies. And at the same time receive bonus interest for storage. If necessary, you can take bitcoin on credit.
For the world economy, this concept is extensible and innovations occur within 15 years but bitcoin so rapidly broke into our lives that it is possible in 2-4 years !)
i was thinking about the Bitcoin and it's Future in Banking . can it remplace money in transactions ?
Bitcoin will not completely replace the banks but rather be an option for people to use in the future. for example, at the time of payment you will have the option to use bitcoin along with cash, credit card, debit card, etc.
and not necessarily everyone will master the way in bitcoin
bitcoin is the future of banking because people can manage their own money and they don't have to use any document to open the account. they only need a wallet to keep, saving, paying some transaction. but this will not happen if they are no agreement from the government and bitcoin is just for personal use for the daily life. I think bitcoin can replace money in a transaction if there is any integration from fiat to bitcoin and from bitcoin to fiat so people can easily to use bitcoin in anywhere and any places
i was thinking about the Bitcoin and it's Future in Banking . can it remplace money in transactions ?
Bitcoin country place flats or any country's national currency but it can be the common currency between all the countries as like Paypal or Western Union is.... And yes there will be specific banks for Bitcoins where you can store your Bitcoins I don't think the normal government banks will take care of your Bitcoins.
i was thinking about the Bitcoin and it's Future in Banking . can it remplace money in transactions ?
its the future of banking because some big banks in the industry are already considering to implement the use of blockchain technology on their system. I believe bitcoin will ultimately replace fiat in banking by 80% in the near future. The bankers are only postponing the doom day of their walking dead fiat. Time shall tell.
bitcoin in the near future will replace my own fiat position still disagree because bitcoin as a substitute for fiat still needs much improvement. bitcoin has not been a common means of payment until now because it is still completely new to the world and the rejection of global banks is beginning to be felt, plus many big countries are finding it difficult to accept bitcoin for many reasons. Bitcoin is generally used for investment and trading needs and nothing more
cryptocurrency is a kind of electronic cash that can be sent directly from one person to another (peer-to-peer) without going through financial institutions or can be said bank. Generally if we want to send funds or money to others, of course, must be processed through the bank, because here the bank serves as an intermediary. with the existence of this crypto technology, a payment is made directly without an intermediary through the network. Transactions conducted between two parties in a network are then verified through a specific encoding process or cryptography
Im not sure. I just think that it can not happen
This is a very interesting question. One that is actual for those that use bitcoin or not. It's still very difficult to answer 'yes' if bitcoin will replace the transaction and replace bank. Because I know that bitcoin is only digital currency and the amount of bitcoins is limited. So not just anyone who will have bitcoin. But bitcoin might be the currency of the future. But what about the other cryptocurrencies, will they also be recognized by the financial institutions as a genuine currency.
Blockchain is the future of banking!
Not a bitcoin! Bitcoin can be replaced by altcoin! But Blockchain technology will change the way banks operate!
Not a bitcoin! Bitcoin can be replaced by altcoin! But Blockchain technology will change the way banks operate!
I do not agree with you,our government will strongly disagree because they can not let everyone use money freely or use whatever they want for things that are very bad,the government wants to control the money or set it up to avoid bad things that sort of thing happened.such as money laundering and so on.As a tool for storing values,Bitcoin has little standard-an uncertain price fluctuation that makes it difficult for Bitcoin to be a reliable storage facility. Finally,as a measure of value,this is still controversial.
i was thinking about the Bitcoin and it's Future in Banking . can it remplace money in transactions ?
I do not doubt the fact that Bitcoin can replace banking in the future. As Bitcoin offers a lot of significance than the banks and moreover works in favour of the people, it has got all the potentials to win the interest of the people in the end when they get to understand the real concept behind Bitcoin and the Blockchain. No one will prefer to transact with the banks by then.
many large banks have already officially recognized that bitcoin will significantly change the banking system for the better, and it will be streamlined!
No, but the technology behind it may well be. However other advances such as quantum computing may well meen that Bitcoin etc will need to adapt to and change over time. Governments wont allow Bitcoin etc to replace fiat as they would lose control.
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