Can we totally eliminate all the banks in this world? - page 20.

AmazingDynamo

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Quote from: TheKeyLongThumbI on January 16, 2018, 01:11:10 AM

Even if crypto has dominated the world, I will still put a good amount of money in a bank and I know people will still do it too. It will divert bad people away from me because they will think I have my money in the bank and not in my pc or any device.

as of now im not doing banking but i also have the sight of you , bank is good if you wanna loan house or cars if you have a good bank statement you have a high chance to grant your request , for now bank is essential , even you have multi million here in crypto but you dont have it on bank it is impossible for you to honor by the different establishment .

TheKeyLongThumbI

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Even if crypto has dominated the world, I will still put a good amount of money in a bank and I know people will still do it too. It will divert bad people away from me because they will think I have my money in the bank and not in my pc or any device.

elvinjamon

newbie

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Quote from: bytethecoin on September 26, 2017, 11:06:13 AM

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/

I have to disagree with your statment sir. It is impossible to eradicate banks from each country even if everyone of us owns a crytocurrency. Banks are not only used for transactions but is it also used as storage of fiat money. Maybe sometime, banks can also store your bitcoin holdings

anonbit992

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A Trader & An Investor

Eliminating banks in the world is impossible. They will be there and they will be a neccessary evil in the world. Perhaps one day government can sort of put more regulations to check their exploitative actions such as charging huge interest, commissions and charges.

davinchi

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Quote from: Raufjoze on January 12, 2018, 04:10:09 AM

Quote from: bytethecoin on September 26, 2017, 11:06:13 AM

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/

banks have functions as currency exchange since ancient times, at that time banks only received one currency, and technology advanced with the existence of digital money, so banks can not be transferred function

Bitcoin and other cryptocurrencies are mainly for investment, so whoever invests their money into it is doing it for a reason, cause they have a target to accomplish. So one day they will withdraw it. And banks are being controlled and backed up by the government, and they won’t let such a thing happen.

AmazingDynamo

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Quote from: karupe on January 15, 2018, 10:41:36 PM

I think it's such a impossible thing that can't happen because banks are controlling economics , no bank the economics will be a mess.

and also bank is traditional many people, company, institution and other are using banks for the security of their assests , banks it is not about the money that is saved there it is about the security of asset that bitcoin cant do so for me it also impossible to eliminate banks in the world .

karupe

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I think it's such a impossible thing that can't happen because banks are controlling economics , no bank the economics will be a mess.

Klestar

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This is impossible, banks cannot be eliminated in circulation of money because government wants it. Bitcoin cannot change the whole system in the government but it can add options to it such as payments and assets. Banks serves to the people and fiats, however we cannot just burn paper money in exchange to bitcoin. This idea is not existence in reality at all.

Vanshenz

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Can not, because everyone still needs a bank, without our bank can not save safely, because saving in the bank will provide good security..

Fantastic33

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Bitcoin will still exist in the future as long as there will be transactions and investors. But i think banks will not be eliminated on our systems. Banks are very important on the financial system of our economy. Banks takes deposits, grant loans, etc. Banks also help on the development of the economy by lending money to business owners.

Crypto and banks are two different things. Their processes, and how they can help or affect the economy are also different from each other. So i think one has nothing to do with the other one, as long as those two are beneficial to us and to our economy, both of them will exist for a long time.

Crypto1989

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No, we'll still need them for their other financial services.

Taki

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Quote from: h1h2h3_c on September 26, 2017, 11:26:12 AM

Quote from: bytethecoin on September 26, 2017, 11:06:13 AM

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/

Bitcoin is the only one currency which is dealing people and people are coming attract to bitcoin because bitcoin is the only currency which having future well if we think about ETH then it is also quite good for future.

What stays behind bitcoin? Nothing. No gold standard or centralization. Let's be realists! Yes, now it costs a lot and the price keep growing, but if something will go wrong we will all loose. Of course I hope for a long life for all coins, some of them brings me good profit monthly and it is not in my interests to talk bad about Bitcoin, but I just want to be real.

ehab.co

newbie

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Of course. This is the whole point of blockchain - decentralisation. Nothing ever happens over night. But the tech will keep getting better, it will become more frictionless, more people will adopt it and the services of banks will become less and less needed as jobs get automated and the world becomes more connected and borderless. If you can't imagine a world without banks then you need to read more about what the aims of Bitcoin, ethereum etc. are

you'll be pleasantly surprised.

Washball

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First crypto index traded as a token!

Eliminate the banks is not possible. The banks have so much power, it's just like saying: can we eliminate the governments. The only thing is that we use bitcoin, next to fiat currency. So they both exist side by side, you can choose whether you use cryptocurrency or deal with banks.

a4techer

sr. member

Activity: 552

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That's was a possible that in the future they remove banks because of the cryptocurrency that you can store in to your bitcoin wallet but if the think or research or have new idea to adapt the cryptocurrency on how they handle it using digital it was possible that banks are not remove.

onemoretime8520

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The World’s First Blockchain Core

I don`t think that in near future btc will have a huge impact on banks as to close them and make them dissapear, but banks can adopt it and become more powerful

szpalata

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Quote from: Brunus on January 15, 2018, 05:14:31 PM

It's unprobable: may be we no longer need them for deposit and tranfer, but for sur we'll need financial services, as loans or leasing.

It's just not possible even if the whole world adopts bitcoin or any other cryptocurrency. Banks will be banks and they will continue to play their role in our finances but cryptocurrencies also have their place and i don't think we should replace one with the other.

Brunus

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Rasputin Party Mansion

It's unprobable: may be we no longer need them for deposit and tranfer, but for sur we'll need financial services, as loans or leasing.

MiXxe

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Quote from: darecky on January 15, 2018, 04:39:55 PM

Banks will not be diminished so easily, if ever.
They will still operate even if totally digital era (where you will still use fiat but in digital forms, such as cryptocurrencies). But maybe, just maybe if people will realize how cryptocurrencies are better than the banking system that existed for centuries, they'll become obsolete.

Yes, banking still be a bank if we can predict it now maybe the founders or the bank owner have been thinking and doing now how he can apply blockchain transactions on their clients. I believe they have an idea and have some bitcoins from now thats how some business minded person works. In the future it will be going to a battle within banks ober blockchains.

darecky

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Banks will not be diminished so easily, if ever.
They will still operate even if totally digital era (where you will still use fiat but in digital forms, such as cryptocurrencies). But maybe, just maybe if people will realize how cryptocurrencies are better than the banking system that existed for centuries, they'll become obsolete.

Topic: Can we totally eliminate all the banks in this world? - page 20. (Read 6105 times)