Topic: Can we totally eliminate all the banks in this world? - page 3. (Read 6083 times)
There is no how we can totally eliminate the Banks of this world because they are the only language so many people still understands for the safe keeping of their funds with guarantee. Advent of Bitcoin is still very fresh and new to some or most Economies of the world. With the Deregulation principle, most countries have not accepted it at all and this is seriously hampering it's uses in such Economies. Based on this, Banks elimination wholesomely could be somehow too difficult even if it is going to happen at all in centuries to come .
in the future it is possible. but now it is impossible. we need their infrastructure systems. for this reason it is not appropriate to raise them. this is the fear of the banks already. they know that a system is no longer needed for them.
That is true, banks are still much needed today. Many people still don't know bitcoin and I don't know if they will also embrace the change of holding investments even after learning about cryptos. It will not be easy to eliminate banks because our government also need them. I think this is the reason why the government in our country are trying to study and analyze bitcoin. Even our central bank is also peeking into bitcoin, they might be trying to find a way to eliminate or lessen the threats in the use of banks. Anyways, implementing bitcoin nationwide is not gonna be easy because not all people are interested in developments especially when it comes to financial system. Between bitcoin banking and the current banking system, some people will choose the latter because they are used to it.
I know bitcoin has return way since it had begun and in its trip it's picked up an excellent deal of fame and shoppers during the globe. nonetheless at a similar time i do not surmise that bitcoin will dispense with banks from the globe on the grounds that originally, banks area unit rather more thought than bitcoin and that they have way an even bigger variety of shoppers than bitcoin during the globe. what is more, banks area unit a lot of trusty than bitcoin and banks management the money of any country although bitcoin is not directed by any bank or government.
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 think banks still have a function but they will need to change their business model. People are lazy and fearful - so as much as we need a mindset shift towards more self-responsibility for example with private keys. most people will always prefer to give custody to someone else.
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 think banks still have a function but they will need to change their business model. People are lazy and fearful - so as much as we need a mindset shift towards more self-responsibility for example with private keys. most people will always prefer to give custody to someone else.
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 am looking forward to the banks will be eliminated, rules and procedures of the bank took lost a lot of time and i do not like thishttps://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/
This can certainly never happen because unless and until its being controlled by government no big business will change their model of working and accepting and dealing in btc . Only a few countries till now have actually made it legal rest of the countries are still undecided and yet to think about it.
As described in the above quote, it is impossible to eliminate the use of banks operating around the world. Whether they are centralized or decentralized is second thing. When one think about financial administration bank is the one that strikes their mind, this can't be changed in a short. When years pass due to more adoption things might change, until then we cannot eliminate the banks. 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 not, the government will not allow it. Although bitcoin is more convenient than bankhttps://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/
I think not, the government will not allow it. Although bitcoin is more convenient than bankhttps://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/
Maybe crypto will replace the banks, we will not take much time to send and withdraw moneyhttps://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/
I think it is impossible to eliminate banks in the world because it is where we keep our money and other documents into safety. Other people are also not into crypto how can they access their money.
I think it's not possible to totally eliminate all the banks in this world, because bitcoin is only cryptocurrency, the best crypto and a lot of people are interested in it, but in banks are too much money.
Many banks in different countries are protected by their governments so we can't actually eliminate them but anyway people can stop using banks someday 
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/
If government closes bank accounts then I think cryptocurrency will become the new bank and new medium of exchange. Cryptocurrency is the future of all money. https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/
We CANT!!!!!!!
As long as we can have cryptocurrencies offline and there is no stabilization on the price which will never happen on market.
we can't erase bank, FIAT is one of the basic currency we have now on our daily lives, on this, there are people who need the bank to save their money for them and keep it safe.
This will take place for a long long time or even a lifetime.
As long as we can have cryptocurrencies offline and there is no stabilization on the price which will never happen on market.
we can't erase bank, FIAT is one of the basic currency we have now on our daily lives, on this, there are people who need the bank to save their money for them and keep it safe.
This will take place for a long long time or even a lifetime.
I think all banks can actually be eliminated by bitcoin, that is, if it is a determined aim of the founders of it, but, looking into few things , eliminating banks should be a right priority. Because. Not every one will like to work with bitcoin,especially the old and stack illiterate, and there could be mutual but benefit of a bank to bitcoin. Which should be supported.
As more and more DLT platforms are built and wallet/tx protocols improve, the retail side of the banks can easily be replace. A solid lending market needs to take hold first though. Other platforms can replace the capital markets side of banking, but those are a little more complicated because the transaction types and contract are far more complex. In total though, the whole banking system can and will be disintermediated as this tech matures. I'm pretty pumped about it.
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/
is it possible that it can happen to me all that is impossible
Banks are a very important institution for economic progress so protected completely by the state, I think the idea of eliminating banks is a strange thing because we all know how important the role of banks to life.
I totally agree with you, banks has a big role in this world and banks is trusted by almost all people in this world so i dont think that bitcoin has a big chance to eliminate all the banks in this world, and for me bitcoin is we will just be very popular but it can not eliminate banks.
Banks are a very important institution for economic progress so protected completely by the state, I think the idea of eliminating banks is a strange thing because we all know how important the role of banks to life.
Definitely not! Banks will be able to find a way to transact using cryptocurrency, banks will adapt on anyways possible so that they can continue to function side by side with any cryptocurrencies. From what i've read cryptocurrencies main objective is to try to make a cashless transaction. This doesnt mean that bank transactions are no longer necessary. As long as there are material values banks will not ceased to exist.
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