Can we totally eliminate all the banks in this world? - page 26.

Fedrey

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Quote from: SkyFlakes on January 09, 2018, 10:53:01 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/

This is too impossible to happened due to the favt that governments will not allow this to happened thwy will never allowa decentralized currency overtake their power which may deprived them to take the authority among people.

I think that it is not necessary to speak so badly about banks and their influence on humanity. The fact is that almost 50% of all problems with the banking system and people, this is what the people themselves turn to banking institutions. So they are looking for a problem for themselves.

SkyFlakes

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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/

This is too impossible to happened due to the favt that governments will not allow this to happened thwy will never allowa decentralized currency overtake their power which may deprived them to take the authority among people.

illnino

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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.

crocss

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Quote from: Tenderino on January 07, 2018, 06:32:49 PM

What is the future of online gambling when all the government need to do is to close the bank accounts of casinos?

The answer is simple, the governments can not close all bank accounts of all businesses and exchanges, because there will be always countries that will allow it for their own financial benefit. Despite of this, you have still the option to mine coins or buy them from other people directly.

the smart answer, it is impossible for the government to close the bank account of a profitable company for the state revenue. The real example is gambling.

n0ne

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The entire banking network getting eliminated just because of the cryptocurrency won't happen in a short or long term. Banks were the one that help with the economy of the country, as well support all levels of people through different schemes. Banks serve as the backbone of the country's growth in some manner.

MIZANUR5033

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We can transfer money at many kind of different way at this moment but we have to do these kind of thing by different kind of banking system. If we want to our work by bank then we have to pay some fee there and give some taxes to the government but there are many online cryptocurrencies are available.
where we don’t need to pay any extra fees or any kind of taxes but if there is no bank then most of the people will face many kind of problems because only a few people are connected with cryptocurrency and most of the people, I mean almost all people of all over the world are connected with many different banks and most of the government doesn’t allow cryptocurrency so it is almost impossible to eliminate all the banks in the world totally.

Heyyyrenz

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It's impossible to eliminate the banks around the world by using cryptocurrency. Why? First of all not all people are able to use technologies or lack of knowledge about cryptocurrency
and therefore they will just continue to use the fiat and not only that the banks is in partnership with the government (We already knew that) therefore the government will not let the bank to be unused because it may really affect the government and the economy as well.

That's what the other country sees about bitcoin but of course not only that there's a lot more, that's why some of the countries ban bitcoin because they see the bitcoin as a threat to the economical growth of the country.

ronafurw

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Quote from: mgwm on January 06, 2018, 07:48:16 AM

No, because banks also support our economy to grow and they also create and supply our money.

Banks will not disappear forever rather they will become the secondary method of storing money after bitcoin and other digital currencies. With the passage of time, there will be observed sharp decrease in the importance and usage of banks.

People want to have the sole control over their money and bitcoin offers them one-to-one transactions. There is no involvements of any third party. Banks don’t give such privacy.

MattF24

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At this time, the world and even Crypto coins still heavily rely on the exchange rate to Fiat. However, gradually it might be possible which will take more than 100 years or so in my opinion.

taiwww

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Bitcoin is a digital currency and a good return giving investment. Bitcoin is not here to eliminate any currency, it is here to help people to perform their transactions smoothly with less charges. Why to eliminate banks? Banks are the vital part of economy and society. Every country of the world has its own bank. Banking industry is operating all over the world. Many international trades get settled with the help of banks, banks work as a mediator between two nations. Elimination of banking system is not possible and also beneficial for the society.

MoonHodler

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It could change how they function, new services will appear maybe.

Rooster101

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Of course the investors of various cryptocurrencies will be the ones that going to be affected if all banks that deals with virtual money are closed. But that will be impossible for now because not all banks are against the cryptocurrencies, in fact, some of them support coins like ripple and alsosome governments like Russia is creating their own cryptoruble.

dongyi17

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I don't think so, we cannot totally eliminate all banks in the world..on the contrary.. it will enhance them and embracing its system.. their belief maybe now is.. if we cannot beat them..then join them..bank is already part of the society in ones country and people are normally go and used in bank rather than in digital currency but in the future depending on how new technologies will go.. but its not possible.

Perseusallen

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i dont think so. cause the all banks in this world is owned by one family and that family is Roschild family. they controlling the world, they are the most rich family in this world. The Rothschild family is a wealthy family descending from Mayer Amschel Rothschild, a court factor to the German Landgraves of Hesse-Kassel in the Free City of Frankfurt, who established his banking business in the 1760s.

btctube

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With the existence of ripples (XRP), I guess we still can't eliminate banks in this world, they are adopting blockchain and will be using XRP. Read some news lately that some banks are also going to create their own blockchain which is something that might just be a break through for them. They can't allow themselves to be irrelevant oneday.

ohlawdy

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The problem is that banks invest a good amount in the economy , by financing mortgages or loaning money for a new company.
It will be interesting to see if crypto's will find something for that to.

shaun98

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Don't believe so, at least not in the near future. Banks have too large of a grip on society, and many influential figures will continue supporting them blindly. These people will need to be made aware of the blockchain and maybe once banks lose their support, will they be eliminated.

Bondho Kompeni

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Banks are the pillars of the economy, the presence of banks is needed everybody and industry so it is impossible if we want to eliminate all the banks in this world.

uptown04

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The banks has their roots in the world since centuries and to eliminate them all is a hard work, very hard but not impossible.

avia

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I don't think banks can ever be eliminated, it had existed for centuries and somehow we have adopted it ever since and it had made some modifications depending on the community's demand and our needs. Other that that, despite the rising popularity of bitcoin, we will still need banks and there are still more people who don't approve with bitcoin. Moreover, governments would most likely sode with a centralized system rather than a decentralized one.

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