Topic: Can we totally eliminate all the banks in this world? - page 28. (Read 6105 times)
No, because banks also support our economy to grow and they also create and supply our money.
In my opinion, we can’t eliminate all the banks in this world even bitcoin price reach at $100k because banks are the most useful and how you can convert your bitcoin into real money if you can cash it out. Bitcoin can’t eliminate all the banks because bitcoin is just a digital currency and some country already ban bitcoin for some reason, so bitcoin has a little chance to remove all the banks.
This is an illusion! we cannot absolutely eradicate banks in the world, even if bitcoin's price reaches $100,000 this will never be enough to gold deposit of our planet which means if bitcoin's price increases and so the gold too! the fiat money will also increase and the need for that is much important than cryptocurrency. Banks are centralized system with the control of government and big named personalities, like Rothschild.
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/
I don't think that it would be possible to eliminate the banks completely. They are still and will be needed even if the digital currency is popularized. Governments will still need banks to control the 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/
I think we cannot eliminate bank, bank have always been and It will continue to be. It cannot eliminate bank due to the fact this the only way for us to get our profit from bitcoin, That's the case here in my country in which you are about to have an account where you store your own profit and with the help of bank you can be able to convert it in your local money . Governments will never let banks be extinct due to the fact that this is the only way for them to handle money and bank are all centralized system .. https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/
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/
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.
I think that won't be happen instead of disappearance bank will adopt the concept of bitcoin, in fact it is already begun in the other country that they accept the system of digital currency. Also I do agreed that Eth has a better future as well so will for that.
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/
I'm not sure if the bank will be completely stopped because not all banks around the world recognize bitcoin so I think bitcoin will be very difficult to replace the bank .
Absolutely not. Banks and credit are inherent, irremovable parts of the current economic system. They may easily adopt cryptocurrencies, like they adopted paper money before, but they are not going away. It will require much more radical changes.
Actually, we cannot. Banks are very helpful is some cases. Even if we evolve in terms of money like we transform to cryptocurrency, there are banks based on crypto also. So we cannot totally eliminate them because they can offer something useful for us even in crypto 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/
Bank can not be closed totally in my opinion. Bitcoin and other cryptocurrency are doing well so far.
In this case, if the bank close i think that day is a change of future blockchain. It will make all top altcoin will rise rapidly.
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 can't visualize what will happens if the banks will close. I am very sure that it will make a big problem. People will adjust the system of currency, some people may have difficulties regarding how bitcoin wallets work. If banks will eliminated in our system, fiat currency will also remove. It is not good in the economy as of now but we can't predict what will happens in the future. https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/
That is not gonna happen in the reality, because banks were completely under the control of governments and when the same is going out of functioning or getting used low surely some steps will be done by government. Around different countries the reason for regulating bitcoin is for these reasons.
No ot is impossible to happen that will eliminate because of bitcoin.Because as more and more people are confident of securing bank money and more and more do not know bitcoin and trust to invest in it.And earlier identify and use the bank rather than bitcoin especially large companies.
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 really dont get it. Why would government close the bank accounts of businesses? Eliminating banks is like eliminating fiat money. Bitcoins can not eliminate fiat money. https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/
Banks are still important and it will just adapt the bitcoin system if bitcoin overcome the fiat money. It has a crucial role in the global market so the higher ups will find a way for the banks to stay alive.
I don't think we can eliminate banks completely,the role of bank in the financial system has been very crucial since a very long time, and it would be very difficult to completely eliminate banks from the system,since people still rely on banks , the conceot of bitcoins is still very esoteric to majority of people across the globe,so eliminating banks completely and bringing in just bitcoins is kinda unreal
Eliminating banks throughout the world is impossible to happend maybe by minimizing the banks is possible. Many company.and business establishments relying on the banks as there way of investing and rooling there money that assured security. Well, only trusted banks could be appreciatedbon that, a bank that already trusted many years. Anyways, some people still relying on banks having there different features that they could have some benefits. As the time passes by some banks worried on there way on the existence in the society since bitcoin coming there way as a great competence on the world of finance and business as the only dominant crypto currency that only lives in cyberworld.
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 will greatly affect the bank, if everyone knows the benefits of bitcoin then all the banks will be scared because customers will turn away to save their money in bitcoin more profitable. https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/
why would they close it if they can gain profit from it they could just charge those people.
I don't think we can eliminate banks completely,the role of bank in the financial system has been very crucial since a very long time, and it would be very difficult to completely eliminate banks from the system,since people still rely on banks , the conceot of bitcoins is still very esoteric to majority of people across the globe,so eliminating banks completely and bringing in just bitcoins is kinda unreal
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 of now we cannot totally elimate all banks in world and change it to digital currency because,as long bitcoin is decentralized and not regulated by the world goverment we cannot pursue our destiny to change from money banking to cryptocurrency world.because all our dreams to be bitcoin capital would be in the future only,because of so many barrier before we implement a cryptocurrency.
Formerly common people worked as banks, lending money and receiving interest, this has evolved into the way we are today where we have a whole institution focused on money but if we follow that time line, we can fill the BTC as a possible substitute for the banks, because it meets all the demands that the banks do not meet, and still has the system of decentralization which would avoid much bureaucracy.
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