Can we totally eliminate all the banks in this world? - page 40.

777Bitcoin

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Quote from: bytethecoin on September 26, 2017, 12:06:13 PM

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/

As long as the government exist this banking system will not be gone. It is our own government who rely on those institutions. And the bargain is abusing us with they’re greed for money. That is how this bankers has control to our public officials neck that they can even manipulate anything in this world.

kateryana81

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Quote from: Milo_Kidd on October 11, 2017, 01:26:04 AM

Quote from: bytethecoin on September 26, 2017, 12:06:13 PM

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 dont think so. But for banks totally adopt crytocurrencies. Because we know how cryptocurrency help and make our lives easy. Grin

That may happen. Banks will convert into bitcoin banks I think. You can’t say that all the banks in the world will be just disappear because the king of economy, bitcoin, has just prevailed to whole world, no. that will not be happening at all. But yes like you said, bitcoin will change the banking style and all the banks will adopt its behaviors.

Deathgamer

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Quote from: bytethecoin on September 26, 2017, 12:06:13 PM

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/

For me i think its to hard to eliminate all the banks in this world because banks plays a big role in this world,especially in financing,loan,savings etc. But if that will happen that all banks will be eleminated i think there is a much better purpose to have a progressive world of bitcoins.

KEPLER99

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Quote from: Somz1 on October 11, 2017, 04:04:15 AM

I don't think so blockchain is a technology which could achieve it

Bitcoin cannot eliminate the banks from the world. It is certain that the digital currency is a big threat to the banking system but if they will start accepting bitcoin and other crypto currencies, definitely the cards will clearly go into their favor.

I think the future banks will deal with digital coins and even if fiat get disappears, they won't but I just hope this does not happen.

d1ceplayer

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Quote from: Skyshark on October 11, 2017, 09:50:31 AM

Quote from: bytethecoin on September 26, 2017, 12:06:13 PM

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 believe a world without bank isn't the purpose of why bitcoin was created, but a world with a way of transferring money without a third party being involved. Banks are a big help and I believe that some of us here, if not most, still believes that we need banks so that we have at least somewhere to store our money with the safety and security. So I think its gonna be hard to just remove or shut down our banks.

Yes bitcoin is not here to eliminates banks from the world banks have own importance bitcoin was introduced to pay digitally and make money in digital form and as the world is now switching toward the digital currency and importance of flat currency is going to fade there is possibility that banks will start accepting bitcoin to continue their business and this will be good for the banks.

nkarm1

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Quote from: bytethecoin on September 26, 2017, 12:06:13 PM

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/

According to what I have read in the article, there is no reason to create such dispute between banks and bitcoin. So the future of the bitcoin holders together with bitcoin businesses is still commendable.
Singaporean banks are just playing safe to protect themselves in terms of their operational protocols, fraud protection, and some law abiders in their country. In addition to those things, Singapore's Central Bank said that they have nothing to do, and they don't interfere with the commercial decisions and actions of the banks. So still the government is out from the decisions of the commercial banks in their country.

BarbieCasino

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Quote from: sheldonnnn on October 11, 2017, 02:57:32 AM

I think that the banks will exist anyway in the future. Maybe we'll just be using them less. The government will provide and maintain a fiat system forever because of taxes.

No the banks are not ready to have for the time to wait money cannot be waste for the bright time. The value of the bitcoin is high and the majority of the people are using the money and users will know the amount of the money. The value of the money will lower than the other currencies, the importance of the bitcoin is high in banks and the social media and the markets so we cannot say than the bitcoin is going to go down.

Skyshark

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Quote from: bytethecoin on September 26, 2017, 12:06:13 PM

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 believe a world without bank isn't the purpose of why bitcoin was created, but a world with a way of transferring money without a third party being involved. Banks are a big help and I believe that some of us here, if not most, still believes that we need banks so that we have at least somewhere to store our money with the safety and security. So I think its gonna be hard to just remove or shut down our banks.

nesty

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Quote from: bytethecoin on September 26, 2017, 12:06:13 PM

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 dont think that bank can be eliminated as of this time because banks are used in different transactions of different business and let us admit it all of us do benefit from using banks doing our personal transactions and even encashing our crypto currency possesion. If bank will be eliminated it would take so many many years before it will happen.

Nakakapagpabagabag

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BITDEPOSITARY - Make ICO's , More Secure

Quote from: bytethecoin on September 26, 2017, 12:06:13 PM

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/

People seem to have a hard time losing the bank, because people are always used to using the banks, it's hard to train someone to use what they do not know. If they delete the bank? maybe still. At the time we are now the expectations of people for getting quick money from their raised money are banks. They look forward to it and expect it to be in the future.

rocketbits

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Quote from: Hydrogen on September 28, 2017, 05:35:11 AM

The only reason banks exist is to fulfill basic and essential needs relating to the storage and exchange of money.

As long as those fundamental human needs exist, banking or something similar to it, will exist in one format or another.

Some ask if bitcoin could replace banks. There's a possibility bitcoin itself could someday become a type of bank.

No it is not possible because the role of the banks is not only holding our money in the accounts but they also do many other things. I think banks can never be eliminated from the world. if the bankers realized that now the future of paper currency is no longer last then they will also start dealing in bitcoin and other digital currencies if exist anywhere other than bitcoin, but for the time being it is not possible.

Kotone

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Quote from: bytethecoin on September 26, 2017, 12:06:13 PM

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/

Cryptocurrecies are in ascendanct slowly and surely. However banks are needed still as I believe that paper money would never go away. As people would be paranoid that all we ever use is electric currency then what if there is a great blackout or a hacking? Banks keep physical money safe and for some people money that is seen and touched is more valuable than digital ones

Somz1

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I don't think so blockchain is a technology which could achieve it

sheldonnnn

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I think that the banks will exist anyway in the future. Maybe we'll just be using them less. The government will provide and maintain a fiat system forever because of taxes.

onrise

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Quote from: Milo_Kidd on October 11, 2017, 01:26:04 AM

Quote from: bytethecoin on September 26, 2017, 12:06:13 PM

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 dont think so. But for banks totally adopt crytocurrencies. Because we know how cryptocurrency help and make our lives easy. Grin

Eliminate banks totally will never ever happen in this world anywhere. Yes you can add the cypto currency as a function in banking , but no country can eliminate the system of banking which has being existence from decades and also will the banks will adopt it , is also the question which needs to be an answered buy them.

Pleione527

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This is possible if government will have the full adaptation of crypto currencies in their economy but the way I see it I think the government will not like that because they will lose control over the money circulating in the market, because of technology bitcoin has I guess the govern are afraid of its capability to stand alone.

Buerra

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It could be happen with goverment control blockchains but still its not eliminate all the banks. Probably blockhain powered banks will be the future. I think that will be happen in 10 years

audaciousbeing

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Quote from: bytethecoin on September 26, 2017, 12:06:13 PM

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/

Closing down exchange sites banks accounts will definitely mean something and slow things down, but would not still stop the spread of bitcoin because of the cross fires in between and also the cost involved in such.

If the exchange site corporate account is closed, its just to use individual account and inform all my clients to further pay into that account without any notification that it directed towards bitcoin and related issues. Since government cannot still go ahead and stop banks from attending to the needs of individual.

Another is that banks most times comply to rules that affects the majority in that the moment one is close to a top official in the bank, the rule becomes secondary.

Vika0170

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Quote from: bytethecoin on September 26, 2017, 12:06:13 PM

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/

Well this is unrealistic, first banks are beneficial to the government, and secondly, while the money will be banks. Even if legalize the crypto currency, there will be an analog of gold in banks and an electronic purse will do. Therefore, there will simply be another currency for people and everything.

Milo_Kidd

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Quote from: bytethecoin on September 26, 2017, 12:06:13 PM

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 dont think so. But for banks totally adopt crytocurrencies. Because we know how cryptocurrency help and make our lives easy. Grin

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