Topic: Can we totally eliminate all the banks in this world? - page 22. (Read 6083 times)
I don't feel that Bitcoins can kill banks in this world as banks would have adjusted to bitcoins and would permit bitcoins exchanges through them and etc.Banks are critical for countries and furthermore the many individuals reliant on banks.Banks awards credits which bitcoins can't do and without advances many individuals can suffer.And banks secure than the Bitcoin wallet we use about would be decent if bank begin utilizing bitcoins.
Well we can't since if then, no one will exchange our incredible amount of money to cold cash. We have to admit, they have the largest amount of money at any given time. We need to work out a system so we can co-exist hand in hand.
Actually we cannot eliminate banks. We need banks for the transaction we needed in fiat system. Banks are protected mostly of the government of each country. It would be harder if we are going to eliminate banks because banks has been part already by our daily transactions and if we convert our bitcoin we would still be using banks.
If the currency rise is due to fall behind of the bank, so look at the current situation, the currency of the price is lower, because the banking sector is a huge volume of business, if really can overturn, improve the banking sector, so there is still a great potential of COINS.
In my opinion, not as banks serve other functionalities that crypto currencies do not offer, such as lending, interest and etc.
I guess not. Banks have been there for how many centuries. Maybe crytocurrency can be part of the currrency but im bot sure it will demolish the bank. People still need a paper money because not all countries i mean people in a certain countries know about this cryptocurrency thingy. People will keep coming back from the bank to deposit or withdraw their earning or savings. Most people are doing the regular job so this is way too far to happen.
I think that would be almost impossible. Why ? Because people need a place to keep their money safe and big. We certainly can not keep all our money in physical form. When you were a child you must also be taught in school, if saving money through the piggy bank is risky and dangerous if for example a fire in your house. If the bank happens fire, the money we have can still be replaced. But do not get me wrong first. I read some comments on the person above, that in the long term maybe the bank may disappear. I need to point out that the bank will never disappear. Maybe the shape of the bank and its system will change, but it will never disappear.Yeah. Its way too far to happen. People go to bank to deposit their money for safe keeping. People go to bank to even deposit their jewelries or any valuable things they have so that it will be guarded safely. So i guess that would be very hard to demolish banks. I got no problem with crytocurrency in fact this is another way of buying which is more convenient for online users. I think these two will work out together.
Banks are instrumental to any modern, developed economy. Bitcoin won't replace banks. But that is not to say banks are irreplaceable. We just haven't found their proper replacement yet. Or maybe we don't need to replace them but instead evolve them to meet new, emerging needs.
I think the plan will not work, because each country must have each bank, and the Bank is a place to save money for the community in every country, or business entities that collect funds from the public in the form of deposits and channeled to the community in the form of credit and or form - other forms in order to improve the standard of living of many people.
So I think Banks can be eliminated in every country.
So I think Banks can be eliminated in every country.
I think there is really no need to totally eliminate the banks around, Why would there be? Banks are not a threat with
cryptocurrency or bitcoins, I foresee that on the long run banks and cryptocurrecy will coexist quite well. Banks are
important and vital to our economy and markets. They are essential even with the rise and circulation of cryptocurrency
and they are somewhat the cornerstones that pave way for cryptocurrency's innovation. Plenty of banks are extremely
influential today.
cryptocurrency or bitcoins, I foresee that on the long run banks and cryptocurrecy will coexist quite well. Banks are
important and vital to our economy and markets. They are essential even with the rise and circulation of cryptocurrency
and they are somewhat the cornerstones that pave way for cryptocurrency's innovation. Plenty of banks are extremely
influential today.
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/
https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/
No. But traditional bank would be eliminated and cryptocurrency bank will be born.
No, and yes at the same time. The bank is still needed for trust other people to currency. And bank not needed to send and receive money.
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/
https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/
as i think.its NO.bitcoin is a cryptocurrency that gives all the people opportunity to earn more profits in the future.maybe some of government country is hold their banks that cause to closure its because other investor is invest their money here in bitcoin rather than banks.bitcoin can gives high profits in the future.unlike banks that gives small interest.
Its not possible in near future,Bank can not be vanished but may be replaced will do transaction in Bitcoin or will introduce another department which will totally based on Bitcoin and give choice to the customers that either make transactions by traditional money or Bitcoin.
I find it very difficult to realize, after all, many people still do not know bitcoin, they still need to trade through the bank!
As long as people are using fiat currency (which will exist in long run, if not forever) then banks are needed. Banks are used by lots of people to safe keep their money and in some cases other valuable assets to be safe as they still don't need them immediately. When the world reach that "cashless society" they are talking then that could be the death of banks but still far to happen though.
I guess not. Banks have been there for how many centuries. Maybe crytocurrency can be part of the currrency but im bot sure it will demolish the bank. People still need a paper money because not all countries i mean people in a certain countries know about this cryptocurrency thingy. People will keep coming back from the bank to deposit or withdraw their earning or savings. Most people are doing the regular job so this is way too far to happen.
I think that would be almost impossible. Why ? Because people need a place to keep their money safe and big. We certainly can not keep all our money in physical form. When you were a child you must also be taught in school, if saving money through the piggy bank is risky and dangerous if for example a fire in your house. If the bank happens fire, the money we have can still be replaced. But do not get me wrong first. I read some comments on the person above, that in the long term maybe the bank may disappear. I need to point out that the bank will never disappear. Maybe the shape of the bank and its system will change, but it will never disappear.Yeah. Its way too far to happen. People go to bank to deposit their money for safe keeping. People go to bank to even deposit their jewelries or any valuable things they have so that it will be guarded safely. So i guess that would be very hard to demolish banks. I got no problem with crytocurrency in fact this is another way of buying which is more convenient for online users. I think these two will work out together.
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/
https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/
banks can be eliminated physically, but to eliminate the function of the bank as a medium for currency exchange I think the government can not eliminate it
i cant imagine what you think , bank can be eliminated physically ? even though it must function physically ? we cant eliminate bank to its function as bank their existence is must , many people , agencies , company and more used bank as their medium of money transaction for their security , and if it happens that bank eliminated that is the time that we are purely living in internet world .
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/
https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/
banks can be eliminated physically, but to eliminate the function of the bank as a medium for currency exchange I think the government can not eliminate it
of course banks cannot be eliminated because they are important due to the fact that they are the ones who regulate the money on our local curencies and they are also the ones who create or supply it in order for us people to use it. can you just imagine if there are no banks then who do you think can produce money? do you think that bitcoin can sustain it? nope because bitcoin is too young and it still needs improvements or upgrades so that we can fully used it on the future without the need of internet.
All banks can not be liquidated because their owners are the most influential people in the world and they will not allow to destroy their source of income, rather they will destroy the crypto currency than shut their banks.
This is not going to happen once you have successfully learned what bitcoins are actually. Yes there is a strong threat to all banks out there because people are loving to go for bitcoins as a saving source and income source and payment method as well. So these bankers will definitely adopt some way which will be easy for both bank users and bitcoins user. Wait and watch.
I don't think that all the banks will be totally eliminated, it was impossible to happen because before it will happen I think bitcoin will be the first to eliminate why? because the government will not let it happen. They will look for the reasons that they need on why they have to eliminate the banks and if there is no strong reason then they will ban the caused of this problem.
Agreed, and on top of that Banks are not a bad thing in general. In my opinion not everyone is capable of handling their finances on their own, so banks are needed in our world. The thing that we should dislike about banks is that they are creating money out of thin air with every loan that they are handing out because they only need a small deposit (1-3%) in central bank reserves to hand out loans.
It would be great if cryptocurrencies would force the banks to work for the people and serve as a financial service provider for them and not only work for their own profit. Cryptocurrencies might change banks for good - in a social banking system.
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