Topic: Can we totally eliminate all the banks in this world? - page 6. (Read 6105 times)
Bitcoin is growing I know but I don't think there will ever be a day that all banks will totally be eliminated because of it. The banks transactions maybe reduced due to Bitcoin but it will not come to a point that we will no longer need banks. Banks are still there for other transactions especially for fiat money, we all know that not all people are into digital currency, plus these banks are backed up by big corporations and even the government so they will never let that happen.
It is impossible to eliminate banks.A lot of people depend on bank.The bank has always been a more trusted place than cryptocurrency because it is under the control of the government, and the government is the place to be created to support and develop the lives of people.The banks have important role in our economy, there will big changes if the banks disappear in our economy.
No.I don'tthink its possible because a lot of people depend on bank still.If we try to eliminate bank. Surely it will badly effect on us.So, we can't totally eliminate bitcoin.
I dont think it is impossible to eliminate banks. Even if we have crypto, still people trust banks and they feel that bank is trustworthy because banks are protected by the government. So if something bad happens to a bank, they still can have insurance that could get their money back.
No.I don'tthink its possible because a lot of people depend on bank still.If we try to eliminate bank. Surely it will badly effect on us.So, we can't totally eliminate bitcoin.
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/
It is not the goal of the cryptocurrencies, banks will exist in this world forever. The banks have important role in our economy, there will big changes if the banks disappear in our economy. The banks is really important financial institutions. https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/
and I tell you, bitcoin exist to reduce our relying to bank and if possible, eliminate all those, although this thing has failure miserably and it seems that bank is just too strong. Frankly speaking, most of people who uses cryptocurrencies uses bank service as well.
Not sure that banks will be totaly eliminated (too much money and too many smart minds are staying behind the bank system) but I'm sure that banks will have to change the way they work. It seem like P2P transactions are pushing banks to make those changes and blockchain is bringing innovations to this sphere.
Yes, I agree with you mate. It is not possible to eliminate all banks around the world since banks plays a vital role on the economic structure of a certain country. The rich people (investors) and its businesses relied more on banks because they found more secure, although slower to transact but already tested for many years. 
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/
It is not the goal of the cryptocurrencies, banks will exist in this world forever. The banks have important role in our economy, there will big changes if the banks disappear in our economy. The banks is really important financial institutions. https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/
and I tell you, bitcoin exist to reduce our relying to bank and if possible, eliminate all those, although this thing has failure miserably and it seems that bank is just too strong. Frankly speaking, most of people who uses cryptocurrencies uses bank service as well.
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/
It is not the goal of the cryptocurrencies, banks will exist in this world forever. The banks have important role in our economy, there will big changes if the banks disappear in our economy. The banks is really important financial institutions. 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/
Of course not! The government will not let the cryptocurrencies to eliminate the banks in our society. If the banks will disappear, we will experience many changes in our economy. Banks will not disappear in our economy. 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/
The cryptocurrencies have now man functions in our economy, many people are worrying because they say that banks will be eliminated because of cryptocurrencies. For me it is impossible because banks have also important funtions in our economy and in our society. https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/
It is possible but cant in near future may be it will take long time.Actually traditional bank system have too much paper work and delay in transactions.There is also risk of theft in banking system.
While Bitcoin is free from all hurdles it is fast and safe transaction process and people are switching to Bitcoin and it will commonly use the future.
While Bitcoin is free from all hurdles it is fast and safe transaction process and people are switching to Bitcoin and it will commonly use the future.
for me as long as bitcoin doesn't regulated by the government, bitcoin cannot eliminate banks, if were going to base it in terms of security, banks is more secured to save all your wealth rather than any bitcoin wallet. bank can also control all your transaction and in the event that you made any mistake you can still retrieve everything. unlike bitcoin if you make a mistake you can never reverse it anymore because of being anonymous. bitcoin is good for investment but bank is more reliable in terms of keeping all your wealth.
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/
It will be slow if it is immediately. It could be like switching from computers to mobile phones. It takes a long time and a revolution.
We are the ones who will make this revolution.
Banks have importance because it also gives a lot to the people. And there is no reason that banks should be eliminated even if they have experiencing decrease the numbers of clients. Banks will always be here specially when we talk about money.
Really, there is no good reason to eliminate the banks, as we know that banks are needed to support business and economic activities, if there are no banks, of course, everyone has trouble keeping or borrowing money.
I think that the banks are the main tool used to inflate the real state business and the share market. They should be limited to more useful purposes than that.
In my opinion banks cannot be eliminated,banks are everywhere and most likely the big banks who stores a lot of money and where people entrust their money with, it cannot be eliminated that easily also because most of the people particularly in our country still not into cyptocurrency. If ever it happens that most of the people are into cryptocurreny then banks will think a way to stay in the line of business. There are many intelligent people behind those banks thinking of a good stategy for their business and their market. So for me it is nearly impossible.
We must remember that there are so many platforms (crypto-platforms) that are offering a bank like features, (p2p, decentralized), so this is impossible (because even in crypto, there are what they are calling decentralized banking). And if the blockchain will really make his name all over the top then banks will use this technology too, and they will shift to their own blockchain and thier own cryptocurrencies.
I guess we cannot eliminate those banks that are currently operating in different parteof the world. Banks also help us with other transactions. Bitcoin and bank do have a different usage.
And even if they are slowly taking our money, banks have served enough service to people like any other financial institutions. They have earned their reputation through the years when it comes to the financing sector. They can easily changed their technology and they're way and people will always follow them. And they are powerful enough to move the laws.
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/
Maybe they become competitors but not totally eliminate the banks. Coz we all know that we have world bank that there is a centralized bank all over the world. Banks adopt bitcoin transaction now, Banks have the big role in our society and the money provided by bank to people is necessary as medium of exchange of commodities that they need.
It is possible but cant in near future may be it will take long time.Actually traditional bank system have too much paper work and delay in transactions.There is also risk of theft in banking system.
While Bitcoin is free from all hurdles it is fast and safe transaction process and people are switching to Bitcoin and it will commonly use the future.
While Bitcoin is free from all hurdles it is fast and safe transaction process and people are switching to Bitcoin and it will commonly use the future.
As far as I see, we can not eliminiate banks for now since I can not use the crypto bank card everywhere for now. How can you buy something at papsmoms shop that is only accepting cash?
On the other hand these cards are limited that you can use for crypto/mastercards.
I hope this will change soon.
are you hoping? But What will it change if already for today banks for crypto currency are created. I do not see any difference between those and other banks. On the other hand these cards are limited that you can use for crypto/mastercards.
I hope this will change soon.
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No and that shouldn't be anybodys goal who is involved in this space imo. The reason we don't want that is because we would be no better than the bankers if we made them choose over system over theirs. The beauty of this all is that we will let the world decide what they want, and pretty sure given the two choices they will side with cryptocurrencies and Bitcoin over traditional methods of fiat. This is all granted that we give the knowledge about Bitcoin, because people will only pick it once they understand the history of money and where we are headed with the future of 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/
No this is not possible for anyone to close all the banking system in this world because they are in big need and also they are playing an important role for the economy of the world where they take money from the people and use that amount of money in the business market like big big companies and also giving loan to the naother people and collecting better amount of tax to give better services .https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/
And also banking system are giving better ease for the cryptocurrency market to use it to make money , many people are making the transaction for the Fiat to crypto and vice versa .
So here no chance for the banking sector to get close all forever , they are existing and are using by us forever for better use .
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