Is banking still important in the bitcoin era? - page 10.

sinta23

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Quote from: Lady Coquet on May 16, 2018, 02:34:59 PM

Quote from: dwsgh on March 06, 2018, 12:37:39 AM

Financial technologies such as bitcoin, P2P lending and crowdfunding are just beginning to take off, and businesses involved in the industry pose little immediate threat to traditional commercial banks. Banks, after all, the country's economic lifeline, so I think the bank is still very important, do you think?

I think bitcoin era will take a lot of years to happen, but if it happens banks will never be important anymore because bitcoin do not need banks to store them or keep them safe, bitcoin have blockchain technology. Bitcoin has no physical form, so you cannot store it into a bank unless it has a physical form.

indeed the bitcoin does not require the bank, but the ones who need it may be us, because the bitcoin results can get our hands through the bank, so the bank is also quite influential on ourselves. so for that bank is also quite difficult to remove.

Ailmand

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Quote from: dwsgh on March 06, 2018, 12:37:39 AM

Financial technologies such as bitcoin, P2P lending and crowdfunding are just beginning to take off, and businesses involved in the industry pose little immediate threat to traditional commercial banks. Banks, after all, the country's economic lifeline, so I think the bank is still very important, do you think?

Yes it is, I think there will come a time that more and more, if not, all banks would have a department that would be designated to catering cryptocurrencies. I say that because banks are business entities and whenever they see a chance to take advantage of a market, especially when it's in its growing stages, they would surely dive in it to gain more income. Since the cryptocurrency market, despite the many negative things swirling it, has been steadily gaining popularity, it would not be surprising to see more business companies like banks to jump in its bandwagon.

Cameo

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Quote from: Chrisjay on May 10, 2018, 11:01:42 AM

I think if bitcoin will rules the world maybe bank will be gone. Because why you use bank if the profit interest are low. Wjile saving in a bitcoin is huge profit.

Exactly saving in bank is really not have that much profit as much as bitcoin has, now people like to invest in bitcoin than saving in banks because it gives high profit than putting your money in bank system, now it is very clear to be seen that bitcoin is gradually taking rule over the world, and people have fiat on bitcoin than any other investment for sure, saving money in banks is now an old method of saving and it is now modern age for sure.

Tomborneque_1102

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Yes, I believe that Banks is still important in Bitcoin Era. I know that the Banks will always find its way to innovate too and cope-up with Bitcoin. besides, it's not Money only that we can keep in the bank. there are a lot of things that Banks can do for us in the near future. such as loans and many more. so I"m pretty sure that Banks will stay even in Bitcoin Era.

Lady Coquet

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Quote from: dwsgh on March 06, 2018, 12:37:39 AM

Financial technologies such as bitcoin, P2P lending and crowdfunding are just beginning to take off, and businesses involved in the industry pose little immediate threat to traditional commercial banks. Banks, after all, the country's economic lifeline, so I think the bank is still very important, do you think?

I think bitcoin era will take a lot of years to happen, but if it happens banks will never be important anymore because bitcoin do not need banks to store them or keep them safe, bitcoin have blockchain technology. Bitcoin has no physical form, so you cannot store it into a bank unless it has a physical form.

Rossy Akbar

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Definitely yes, I mean bitcoin itself can make their own banks if they want, but currently any single transaction we do with bitcoin must be through the banking tho, so the bank is still really important. But I hope actually the bank can work together with bitcoin and the government, I think it would be great economy movement for the country if they're together.

legenduim

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Quote from: oxygensignatureR on May 16, 2018, 09:23:04 AM

Bitcs are just making the society heavy with their burden. Btc exchanges and banks would have been enough for us LOL

Here I will disagree with you. First of all, I cannot call our time Bitcoin era, and secondly, the banking system is needed also even when BTC is used globally.

buternasek

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Of course bank is still important even if bitcoin is already here because bank is the main back bone of our economy and we cannot that switch right away no matter how good crypto is. And also in our country we still need banks whenever we convert our bitcoin into fiat this is where we deposits our fiat.

jimmybush07702

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Truly it is.bank is as yet vital in light of the fact that it is the place we can store our cash and we can spare it. Indeed, even the bitcoin is existing now those banks is extremely vital in light of the fact that it enable us to spare our cash and bank to have a premium too.

arrmia11

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Of course it is, we will still be needing that in order to have a safekeeping on our money. Although we knows that bitcoin's one concept is to eliminate or lessen the banking system or what we called the third party transactor, still we will be needing those. Bank has an advantage and functions so does bitcoin. Those functions will help us to lessen our burden and to have a convenient lifestyle.

mornabo

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Quote from: Gondwanaland on May 16, 2018, 09:51:14 AM

Quote from: dwsgh on March 06, 2018, 12:37:39 AM

Financial technologies such as bitcoin, P2P lending and crowdfunding are just beginning to take off, and businesses involved in the industry pose little immediate threat to traditional commercial banks. Banks, after all, the country's economic lifeline, so I think the bank is still very important, do you think?

Yes it is, bank is still important because it is where we can deposit our money and we can save it. Even the bitcoin is existing now those banks is really important because it help us to save our money and bank have an interest also. Bank can work together with bitcoin.

I think as long as we still use fiat as transaction and major currency then bank will always be needed, besides banks are not only a place to save money or conduct individual transactions, but also give effect to microeconomics like provide loan fund and so forth, banks will always be needed until whenever

Janation

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Quote from: Gondwanaland on May 16, 2018, 09:51:14 AM

Quote from: dwsgh on March 06, 2018, 12:37:39 AM

Financial technologies such as bitcoin, P2P lending and crowdfunding are just beginning to take off, and businesses involved in the industry pose little immediate threat to traditional commercial banks. Banks, after all, the country's economic lifeline, so I think the bank is still very important, do you think?

Yes it is, bank is still important because it is where we can deposit our money and we can save it. Even the bitcoin is existing now those banks is really important because it help us to save our money and bank have an interest also. Bank can work together with bitcoin.

If we will be talking about the era of Bitcoin, it is obvious that we don't really need banks since Bitcoin created the financial freedom of people. we can now manage our money without the help of the bank though that is when we are only talking about the era of Bitcoin but if we will be talking about the importance of Bitcoin in a country, there is no way that Banks will be erased in a country. The existence of Banks is very important in a country.

Gondwanaland

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Quote from: dwsgh on March 06, 2018, 12:37:39 AM

Financial technologies such as bitcoin, P2P lending and crowdfunding are just beginning to take off, and businesses involved in the industry pose little immediate threat to traditional commercial banks. Banks, after all, the country's economic lifeline, so I think the bank is still very important, do you think?

Yes it is, bank is still important because it is where we can deposit our money and we can save it. Even the bitcoin is existing now those banks is really important because it help us to save our money and bank have an interest also. Bank can work together with bitcoin.

oxygensignatureR

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Bitcs are just making the society heavy with their burden. Btc exchanges and banks would have been enough for us LOL

Chusnul

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Bank and bitcoins are not the same thing. Physical currency and crpyto currency are two different things. They trade/transact in government backed fiat currencies only. Although Bitcoin is a legal payment tender in some countries. Your traditional banks do not directly deal with Bitcoin. There might be some intermediary who convert Bitcoin to local currency and vice versa. Secondly Bitcoins is against the concept of centralised authority in charge of your money. If you need a bank to park your money, you do not need Bitcoin.

amih

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I think for the time being the role of the Bank is still very important because of course what we will do in the activity of the world of crypto of course there is a relationship with the Bank as a means for us to do the deposit activity on the currency crypto. other than that of course we still need the Bank to withdraw the assets of crypto currency that we have. it is some important role in the existence of the Bank that must remain exist today because in our daily life of course fiat money is still the most common thing done in the activities of daily transactions.

LigwagGanern

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Quote from: dwsgh on March 06, 2018, 12:37:39 AM

Financial technologies such as bitcoin, P2P lending and crowdfunding are just beginning to take off, and businesses involved in the industry pose little immediate threat to traditional commercial banks. Banks, after all, the country's economic lifeline, so I think the bank is still very important, do you think?

I think banking is still important in bitcoin era because there is so many fiat money in the world. If you are a millionaire I know that you are using bank to keep your money so that it is safe from the hackers or bad people. Bank is a good way to keep your money because you can monitor your money in them and if there is something wrong in your money, you can ask them what is it and how to solve it. Bank is important to keep your money, bitcoin is important too.

Trimegistus

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The major part of the economy still runs on fiat currency and it will keep on doing so for the rest of our lives.

Traditional banking institution and being shaken by crypto but they won't disappear as long as we have an oil based economy.

When the world runs out of oil, then the system will change. But only then, never before.

socksserver3

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To my mind, it plays a certain role but it becomes not so great. Day by day, banking becomes not so important in the era of bitcoin. As for me, this is obvious. I am sure that soon there will be a day when BTC will occupy the main position

Blockfolioz

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Banking is the backbone to the economic situation prevailing around the world. Each government operates with close relationship with the banking sector, without which growth could have never been achieved to this extent. Now bitcoin as well other digital currencies have fulfilled the need that were unable to be provided by the banking system. However things get advanced banks serve as the primary financial institution and bitcoin as the alternative to the same.

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