then what's the use of the blockchain system if bitcoin works like a bank.
after all bitcoin is impossible and will never dominate fiat currency
Topic: Bitcoin is it the Future of Banking ? - page 7. (Read 5914 times)
Yes true, bitcoin systems are faster and cheaper than banks so it is most feasible to become the future system of transaction banks, and of course it is an advantage for all banks if they adopt bitcoin.
Why, no, I'm not a bank specialist, but it seems to me that he will not replace the main currency of the countries, but will be like a cash currency. It is quite difficult to replace all currencies one by one. And it will certainly not be soon, because it is a large-scale work and not everyone is ready for it.
It is foolish to discuss for the hundredth time what can not be in principle. No state will ever replace its national currency with a crypto currency. This would lead very quickly to the collapse of the country's economy. Bitcoin is also far from banking and can not replace banks, like national money. All this is just childish fantasies, which are not based on real economy.
Yeah, Bitcoin is the future of banking. As more of the global population continues to operate without centralized banks, Bitcoin and other cryptocurrencies can be used and managed all on a cell phone. And as more cryptocurrency ATM models enter the scene, crypto holders are now able to make use of their digital assets by instantly cashing out.
I think so, because bitcoin is more transparent than Bank payments and much safer. You don't have to worry about your money being frozen or anything.
Yes, do not worry about the freezing of funds in Bank accounts, but there are other risks of non-payment due to the low cost or its long delay.
I think so, because bitcoin is more transparent than Bank payments and much safer. You don't have to worry about your money being frozen or anything.
In my opinion, banks and bitcoin both will survive together. In few years banks will adjust and adopt to the bitcoin. Infact investment banks will bring new bitcoin based products like ETF which will help bitcoin to grow further. It will take few years from now to use bitcoin as primary currency in all trades and exchanges. When non literate will start using bitcoin as currency then there will be no place for traditional banking.
I dont think bitcoin will be but other altcoin projects that integrate blockchain with technologies to help sending money faster will do the jobs.
Fintech (financial technology) is developing at a high pace. Many of us dont even own pay cash back to friends or use our money to buy groceries any more. We just go online and purchase.
Altcoin projects can make future banking even better.
Fintech (financial technology) is developing at a high pace. Many of us dont even own pay cash back to friends or use our money to buy groceries any more. We just go online and purchase.
Altcoin projects can make future banking even better.
Bitcoin can replace money, with the proper Informatization of society and globalization. But this is unlikely at the moment.
Bitcoin's presence brings its own color, what is the problem of the bank system has been answered by bitcoin so it's time for everyone to switch transactions from banks to bitcoin.
The end goal is to enable people to transact among themselves without these transactions being controlled by governments and mega corps. To enable monetary freedom. And even, someday, to become the basis for the Unified World Currency .
But now I only see bitcoin as a business investment. I think it's still difficult to replace our currency with bitcoin, but if banks can use blockchain technology for transactional or other needs.
But now I only see bitcoin as a business investment. I think it's still difficult to replace our currency with bitcoin, but if banks can use blockchain technology for transactional or other needs.
No i don't think so the Government won't allow that because they don't want bitcoin cause they don't have control over it so i'm for sure it won't be main currency
Bitcoin is a new kind of payment network and currency, using peer-to-peer technology and operating with no central authority or bank. Transaction management and issuing of bitcoins is done collectively by the network, which is open-source, public, and owned by nodiv. Anyone can take part in bitcoin, and use it in ways that other payment systems can't be used. Main things i like about Bitcoin are:
Bitcoins can be transferred internationally in minutes with no banks gumming up the works
Paying your neighbor is the same as paying someone on another continent with Bitcoin
You can pay a tiny, voluntary (currently 0.0001 Bitcoin) mining fee for transactions (Not including the mining fee makes the transfer happen more slowly, but it goes through.)
There's no credit card number, and not necessarily any tie to your identity with Bitcoin
Other alternative currencies are popping up, but currently Bitcoin dominates. Big financial institutions are still dismissive of Bitcoin, and some are becoming actively critical of it, which Bitcoin advocates see as a sign of the alternative payment system's increasing legitimacy. However, Bitcoin may not be able to completely replace the banking sector but will redefine and restructure the entire banking/financial sector.
Bitcoins can be transferred internationally in minutes with no banks gumming up the works
Paying your neighbor is the same as paying someone on another continent with Bitcoin
You can pay a tiny, voluntary (currently 0.0001 Bitcoin) mining fee for transactions (Not including the mining fee makes the transfer happen more slowly, but it goes through.)
There's no credit card number, and not necessarily any tie to your identity with Bitcoin
Other alternative currencies are popping up, but currently Bitcoin dominates. Big financial institutions are still dismissive of Bitcoin, and some are becoming actively critical of it, which Bitcoin advocates see as a sign of the alternative payment system's increasing legitimacy. However, Bitcoin may not be able to completely replace the banking sector but will redefine and restructure the entire banking/financial sector.
Why, no, I'm not a bank specialist, but it seems to me that he will not replace the main currency of the countries, but will be like a cash currency. It is quite difficult to replace all currencies one by one. And it will certainly not be soon, because it is a large-scale work and not everyone is ready for it.
i was thinking about the Bitcoin and it's Future in Banking . can it remplace money in transactions ?
Well the answer to your question is YES!! bitcoin can replace cash in money transactions. But what it CAN do is not what WILL always happen. So it depends on the conditions prevailing in that very particular area or country, that decide how the status or position of bitcoin. Bitcoin has got all the traits of FIAT and can easily be used in its place. Now the payment mechanism through bitcoin has also been quite improvised and that has made it quicker to transact through digital payment mechanism as well. With the advancement of lightning network, the transaction fees have also reduced to a great extent!!
It would be conceivable since we are currently in an advanced age where everything should as of now be possible on the web. Who knows couple of years more from now paper money will never again exist.
Oh no, that's definitely not the case. Bitcoin is not something that banks will change ... most likely this is something that can destroy banks at all. They may just not be needed. And I personally do not see anything wrong in this, except that some people who work in this area will lose their jobs ...
In my opinion, Bitcoin can be a part of Banking in the future. It has all of quality aspect such as security, convenient transaction. Furthermore, the blockchain technology could probably change all of banking system. The matter of bitcoin is that it still doesn't get regulation by any the organization. Its price also not stable in the market.
Nope, because bitcoin is totally against the banking and government system. That way, bitcoin will never replace fiat money.
No, I think bitcoin does not affect the banks so much, the future that banks need is people and economy, not bitcoin.
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