Topic: Bitcoin is it the Future of Banking ? - page 47. (Read 5914 times)

Personally,I don't think that Banks will adopt Bitcoin for the settlement of their transactions, banking has control in the banks but in Bitcoin no third person involve in any transaction. Banks has applied taxes and fees on other hand Bitcoin is free and no taxes apply on it, He can walk along with national money, but not substitute them.

I Think that bitcoin will go in parallel with the entire banking system. Fiat will be for ordinary people who believe in the Fiat banking system, and there are people who believe that the crypto banking system has great prospects in the future.

Bitcoin will have no confer later on of keeping money, on the grounds that for the vast majority of the exchanges, despite everything we needs to traded it to fiat, by and by for each bitcoin I earned online is sold to my neighborhood trades so will store the equal nearby cash into my ledger, were I can pull back my cash, this is to reaffirm the part of saving money in cryptographic forms of money.

You are absolutely right by saying this, its really the future of banking, most of them will adopt it into their platform...

In my opinion, many people avoid Bitcoin because of its instability and modern structure and at the same time use the banks.
Some bank users are older people who don't want to use cryptocurrencies because they are afraid of them, it's quite understandable. Furthermore, banks that are state investments are regulated by cryptocurrencies and governments will probably not allow banks to be replaced by cryptocurrencies, for example Bitcoin. It just would not pay off for them.

I agree with you. Because cryptomarket has no common with Banks. Government accept banks but not cryptomarket, in this reason banks well being not use their Bitcoin. The Texans will be very hight fot the credits of it.

It will not completely replace cash all over the world. But in developed countries, I expect to see most of cash being extinct now with popularity of digital payment options.

The banking sector will adapt and offer cryptocurrency services (like added security) that many of the online wallets fail to do. Banks don't care about the medium (cash or crypto), banks offer consolidated services to pay your bills, insurance, mortgage, investments, etc. Is bitcoin the future of banking, the answer is highly no. Bitcoin is a fad that people saw as a get rich fast FOMO with nothing to support it except speculation which is very scary. It can't replace fiat currencies because it is too volatile (i.e. the reason why you hold it as investments) nor does most of the world outside the developed countries have the infrastructure to support it. Ever travel to undeveloped countries? The medium is cash. Heck Japan (developed), their day-to-day preference is cash and not credit cards or another electronic medium. Even if the world tried to adopt bitcoin as a currency there is the obvious scalability issue and the time it takes to process a transaction. I'm not sure if this is a reality check but bitcoin had it's 15 minutes of fame and will slowly fade away as people move on to the next 'get rich' scheme. It will bleed, people will get burned with spikes due to momentum trading thinking it will recover. It will be pure luck if you can time it right. At least with the equity market it is somewhat tied to company/sector perfomance (though that is speculative as well).

What cryptocurrencies did show was how disruptive new technologies can be. Without a doubt we are moving to a cashless society but I don't think cryptocurrencies will be the answer. Just better banking services that will mimic the convenience without the risk of hacking. In the end, currency can't be decentralized because goverments need it to control their fiscal and monetary policies and for you to pay taxes! It's also in everyone's best interest to keep an eye on large volumes of money being moved around to prevent criminal activities (e.g. tax fraud, terrorism, etc.)

I think people are overly optimistic about bitcoin or what cyptocurrencies can do. Aside from trying to move large amounts of money secretly across the border, VISA/MC do a much better job in offering consumer protection. You  benefit from points, it's widely accepted, and there are no fees (providing you pay it in full every time). Even if cryptocurrency replaced cash, I would still use credit cards for the perks mentioned above. So in the short term you may make money from bitcoin and cryptocurrencies but as the hypes moves away I don't see a future long term. IMO, you'll be telling your kids about the time you could have become rich... had you got in to bitcoin early before it ballooned up to ~$19,000, when everyone and their grandmother was trying to get in. Just don't be a long term bagholder hoping for a return to the yester years, that ship has sailed and you are on an iceberg.

JMO.

if the use of cryptocurrency reaches the global market and is widely used by the general public, the bank will also make their own cryptocurrency and will not affiliated with any type  cryptocurrency at this time. the bank is currently monitoring the crypto encroachment if indeed high demand and its use is  with the abundant funds of the big banks will not be difficult to make its own crypto currency.

I think if government make bitcoin legal there is a chance that the bitcoin will br our future banking. As you can see now there are so many people that wanted that bitcoin will accept as a payment so there is no possible that it will be our future bank.

Anything is possible in this world. If bitcoins popularity continues to go up then one day we might say that bitcoin is the future of banking. Although it is hard in reality. Banks has been here for so long for bitcoin to just make it disappear or replace it. Maybe bitcoin will become bank's major competitor instead.

Future is the word so we cannot say its for 20-30 years only future is an endless timeframe. We don't know how this bitcoin will change the banking systems now but, it is too possible that it will become our future banking with taxes from the government and other additions of bitcoins features.

I think, bitcoin has not been able to become the future of banking because many countries are not yet ready for bitcoin. many people still do not trust and use bitcoin for their daily needs and few people know bitcoin around the world

on technical characteristics, of course, yes, but in terms of financial systems, bitcoin presents a real threat to them as a direct rival. although with the correct interpretation of the crypto currency can be reached a new level: this is a new stage in financial relations. Already now, ordinary banknotes are losing popularity with respect to plastic cards. And we can say with confidence that the market in 10 years will change radically, and I want to believe that the life of ordinary users will be simplified.

Bitcoin has the potential to be implemented as working as Bank, because it has been strong to many community, which can be useful for future, Already, bitcoin has created a job to many people in difference country together, on difference section participate in industrial.

Yes, Bitcoin will be used against the bank in the future. Usually, if we keep the money in the bank, it takes a yearly fee and there are many tasks to perform. If we save it by bitcoin, it will work like a kind of investment, and we can transfer it to our needs. Otherwise Bitcoin security is very good and safe.

This is what the banksters fear. They know the power of cryptos, they know its ability to replace fiat money.

No, it can not be. To be a coin, he must be officially eligible for hands-on transaction.In that case, bitkines are only online transactions. It is eligible for bank transactions not be a bank.

Well eventuality it's going to be all digital currency but that's a long way down the line.For now Fiat rules the market it will be like this for a long time.

Possible but it takes more years before implementing this kind of ecosystem. Bitcoin is potential and have good future as the leading virtual currency in our present time.