Can we totally eliminate all the banks in this world? - page 10.

Gabrieelle

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Quote from: goldcoinminer on February 25, 2018, 08:51:30 AM

Quote from: Uno17 on February 25, 2018, 08:06:20 AM

It also impossible to happen because even cryptocommunity will will over power banks system, there are always some who will remain conservative of saving their money, doesn’t want any risk and always relies on insurance of their money and they are the loyal ones for banking sytem, therefore it’s impossible to totally eliminate banks in the world, it won’t even become weak because they have built so much foundation already that everyone trusted too😃 crypto may compet maybe in the future also.

We can never beat banks, they are operating based on the law and protected by the government if you follow the law.
They are different but bank are more trustworthy since depositors has more confidence because they are guaranteed with insurance.

You have a point we all know that bitcoin is decentralized and the government cannot control it. In order to protect themselves or their banks from cryptocurrencies they are banning it in their countries. I guess that is their solution with their problems with cryptos unlike with other countries like japan they have already regulated bitcoin which are good for the cryptocommunity we're talking about.

goldcoinminer

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Quote from: Uno17 on February 25, 2018, 08:06:20 AM

It also impossible to happen because even cryptocommunity will will over power banks system, there are always some who will remain conservative of saving their money, doesn’t want any risk and always relies on insurance of their money and they are the loyal ones for banking sytem, therefore it’s impossible to totally eliminate banks in the world, it won’t even become weak because they have built so much foundation already that everyone trusted too😃 crypto may compet maybe in the future also.

We can never beat banks, they are operating based on the law and protected by the government if you follow the law.
They are different but bank are more trustworthy since depositors has more confidence because they are guaranteed with insurance.

Uno17

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It also impossible to happen because even cryptocommunity will will over power banks system, there are always some who will remain conservative of saving their money, doesn’t want any risk and always relies on insurance of their money and they are the loyal ones for banking sytem, therefore it’s impossible to totally eliminate banks in the world, it won’t even become weak because they have built so much foundation already that everyone trusted too😃 crypto may compet maybe in the future also.

Wolfwar

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Quote from: Semosuchi Tesongrato on February 25, 2018, 06:34:54 AM

Theoretically, in the case of a massive acceptance of bitcoin by general public, banks would become useless, at least in the form we know today.
But they form a so influential network, that I'm pretty sure they will find a way to keep their position of power.

That's it, at the end of your thesis you express yourself correctly and said the donated thing that the banking system will always find opportunities for existence and for leading influence on the financial sector of the world economy.

Semosuchi Tesongrato

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Theoretically, in the case of a massive acceptance of bitcoin by general public, banks would become useless, at least in the form we know today.
But they form a so influential network, that I'm pretty sure they will find a way to keep their position of power.

SirDwp

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I doubt that banks can be destroyed. These damn bankers are too influential). But I think it's clear - all banks can be radically transformed.

mamex

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No, we can't. That's impossible. Bank have monopoly power and will not release that power without resistance. While Bitcoin and other digital currencies have generated significant interest, their adoption rates are very small and government support for them is virtually nonexistent.

tikong

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I think it is impossible, industry and economy desperately need banks to do everything related to finance, in addition the level of human dependence on banks is so high that the presence of banks like the heart in life.

ramgonzales

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No, I don't think banks can be taken out of the global scene. They've been around for such a long time they're a well-established system. From my point of view, there will always be a need for fiat or real-world money. Crypto currency is currently in a league of its own and there are a lot of people who also benefit from it. If you think about it, its value is still based off fiat. So in a sense, while BTC and other altcoins attract new investors, to say that it will get rid of banks would be more than just a stretch.

Xester

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Quote from: Similificator on February 24, 2018, 12:02:53 PM

Quote from: trauchot on February 20, 2018, 04:26:30 AM

Unfortunately this will never happen.The only thing that can contribute to this is introduction of passport data or some other data that will certify our identity in all cryptocurrency world, for without it most governments will not even think about legalizing bitcoins and other cryptocurrencies. Banks have already been proven for centuries and people trust them, so there is only one decision and it`s introduction of identification data.

Yes, you are absolutely right, I have been saying the exact same thought every damn time to new people I meet that wants the banks to just go away immediately. I cannot even stress enough how real what you have said is. The government or the banks maybe taking advantage of this fact to exploit this type of explanation to get things in their favor but even if we don't want to admit it, having regulation is really what's best for crypto when it comes to crimes. Which is why I also think that without the identification data from owners of all cryptos, I do not think that the government or the banks will ever allow the legality of the cryptos.

I agree and banks are symbols of economic growth of ones country. I am hoping that bitcoin will not be banned all over the world. It is a risk or let say a threat to banks because some people now preferred to have their money on cryptos. Because banks gibes a little profit while bitcoin gives a lot.

munify

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Quote from: bytethecoin on September 26, 2017, 12:06:13 PM

What is the future of cryptocurrencies when all the government need to do is to close the bank accounts of businesses or exchange?

https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/

Can not, the bank will not disappear and bitcoin can not drop the bank. I do not think the government will let the bank disappear.

Similificator

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Quote from: trauchot on February 20, 2018, 04:26:30 AM

Unfortunately this will never happen.The only thing that can contribute to this is introduction of passport data or some other data that will certify our identity in all cryptocurrency world, for without it most governments will not even think about legalizing bitcoins and other cryptocurrencies. Banks have already been proven for centuries and people trust them, so there is only one decision and it`s introduction of identification data.

Yes, you are absolutely right, I have been saying the exact same thought every damn time to new people I meet that wants the banks to just go away immediately. I cannot even stress enough how real what you have said is. The government or the banks maybe taking advantage of this fact to exploit this type of explanation to get things in their favor but even if we don't want to admit it, having regulation is really what's best for crypto when it comes to crimes. Which is why I also think that without the identification data from owners of all cryptos, I do not think that the government or the banks will ever allow the legality of the cryptos.

Firefox07

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There is no way we can eliminate banks in this world. Banks are working for a long time and i am pretty sure that they face many problems in their journey. So banks will not fall easily.

Ngewex Yuk

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This depends on the situation, banks certainly will not survive if it continues to lose and disappear naturally, just like the newspaper or magazine industry that many stop because all customers using newspapers or magazines online.

_Legendary_

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Quote from: @matthew17 on February 20, 2018, 07:40:03 AM

I am sure that banks won't be totally eliminated in this world .Banks are useful for people who wants to save their money for their children's future .for the people who don't know crypto banks are the first choice for them to save their money .

Yes true, even if the use of bitcoin or cryptocurrency someday more dominant then banks will receive bitcoin, banks will continue to survive because in any transaction is in need of banking services, and of course is as a medium for savers and creditors.

traderethereum

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I think we don't have to eliminate all the banks and I think we can work together and maybe bitcoin will help the banks become simple and not makes people confuse about the transaction. maybe the banks will still be used as the one company that will help people to save their money while the cryptocurrency could help people to have another investment and I think every people could buy any coins in the cryptocurrency with any amounts and the investment is not just for one coin only.

Matteo.b

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No we can't eliminates all the bank, because the reason is for now money is a main commodity we've been use a lot changes and systematic must be proposed. And more explanation and proposal been talk about in our society. Bank is a main investment of many people.

shuvo999

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Quote from: Joshapat on February 20, 2018, 03:24:43 AM

I do not think, forever we still need bank services to support all financial transactions, even many countries that make banks as state companies so as to protect by law regulations.

it will take some time to replace banks with digital currencies completely. but the point is that for this we need everyone to use crypto coins. I believe that crypto and banks should work hand in hand.

portotoi

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Blockchain with a Purpose

I don't think so that all banks in this world will be eliminated. Even though crypto currencies will grow in its markets, still banks in every country is very important. Because people who do not want to use crypto currency will be using banks also since not all people are using digital money.

jassanpary

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Quote from: @matthew17 on February 20, 2018, 07:40:03 AM

I am sure that banks won't be totally eliminated in this world .Banks are useful for people who wants to save their money for their children's future .for the people who don't know crypto banks are the first choice for them to save their money .

It's highly impossible to eliminate all the banks as almost every individual have bank account and they may not have crypto with them, only limited numbers are in the crypto world. If we compare bank account holders and the crypto holders there is a huge difference, so bank will be there as it is.

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