Is banking still important in the bitcoin era? - page 21.

fcklife

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Quote from: dwsgh on March 05, 2018, 11:37:39 PM

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?

if bitcoin will dominate the payment system, banks will no longer important for us.
but the chances that btc adoptation will be 100 percent is not feasible. imagine how slow the technology adoptation specially in third world countries like cambodia? though there are tokens now that serves the unbanked people, there will always be an option that is why banks will be important even in bitcoin era.

3la9l_kolbaCa

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Quote from: Granxis on May 08, 2018, 08:28:47 AM

Quote from: ArnoldChippy on May 07, 2018, 03:34:08 PM

Quote from: Senja Kemuning on May 07, 2018, 02:58:45 AM

The role of the bank will always be important until whenever, this is because the bank becomes the main pillar to drive the economy, the bank will exist anytime because it is fully protected by the state.

Yes we have to accept that fact that the role of banking is still important in our life, in fact still majority of people do not know anything about bitcoin and even they know about it and using it but still they are not in condition to use bitcoin for everything for which they are already using fiat currency, therefore they are using bitcoin as an optional currency, and that is the reason that the use of banking system is important in our life.

Right, I think that banks are also trying to integrate crypto moneys, especially if crypto moneys are a threat to the bank, it would not be allowed to grow so much. I think all the banks are looking at the crypto moneys positively.

I agree on you and that is poasible now a days. The banks has it's own way on how to deal with crypto world because it is a kind of system that new to them and they have banking system. They will do their job to have a better positive outcome about their studies on how to swim in the crypto system. Moneys should grow in bitcoins era for them to be proven the productivity.

Guapongbadoy

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Yes! As long as economy exist banking is important but there will be a revision to conduct a greater transaction and this maybe influence by crypto, forcing the bank to improve the service.

Cryptophorus Columbus

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Theoretically, the banks - in the vision of Satoshi - should no longer be necessary, with the advent of bitcoin.
But they will hardly let themselves be put aside, so they will invent something. And then you will still need financial services, loans and other things like that.

pabpete

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Quote from: Madenis on May 08, 2018, 08:38:23 AM

Why do I need a bank if I have a crypto currency? What does the bank have to offer such that it can not do this crypto currency? Banks only create unnecessary problems. They are completely subordinate to the states. Crypto currency allows you to transfer unlimited amounts of money quickly and without regulation

Cryptocurrencies are steadily changing the way we not only facilitate transactions, but also the way that we view money altogether. Banks who neglect the value of this technology, or those who are too slow to adopt it, will ultimately pay the price.

Allura74

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Quote from: jovs on May 08, 2018, 07:57:37 AM

Quote from: dwsgh on March 05, 2018, 11:37:39 PM

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?

The international trading industry and worldwide economic system is still bank based. It would take major adjustments and changes to abolish the banking system from the world exchange and even in a particular country's financial system. As of now, bitcoin exist even banks are still dominant in the market. The outcome of this relationship is yet to be reveal in the future. Will they co- exist sweetly? Will they compliment or break each other?

Yes, as of now they are co-related to each other since most people who work in earning bitcoin will usually convert bitcoin earned into their local money and send it to the bank for savings deposit to use the ATM and can withdraw money anytime but if the world soon become fully inter connected then the crypto will dominant and bank will slowly vanished because people will doesn't use it anymore.

udanemas

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Quote from: dwsgh on March 05, 2018, 11:37:39 PM

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 bank still important in the bitcoin era, Banks played a vital role in the improvement of our economy. There are lots of essential activities that banks do for us to prosper like, facilitates the process of production, exchange and distribution of wealth. So, Bitcoin won't replace banks, they can work together in building a more productive and prosperous nation.maybe in the future, Bank has a new crypto.

Apiapik

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Of course yes.the banking world is still in the need.the existence of banks are very regulated and protected by negara.bank have a separate role in regulating the circulation of cash in a country.

ashkanm

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of course, the bank has its own role in a country. banking is still needed by society in a country anyway. although in the future bitcoin or digital era will be more phenomenal but will not really undermine the banking system.

Raone

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Although, bitcoin is getting popular day by day, but there are hundreds of millions of people all over the world still don't know about it. So banking would remain important for a long time in future.

Kittygalore

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Quote from: dwsgh on March 05, 2018, 11:37:39 PM

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?

Maybe once bitcoin is accepted and is legalized throughout the world is that bank users and bank's essence alone is not there to be found anymore because we use wallets in our bitcoins and it is accessed through internet. Well maybe the government will make a bank that is in the internet so it can be accessed through internet which is a lot better since it is more secured than the wallets we are using right now they're lurked by hackers and scammers.

Madenis

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Why do I need a bank if I have a crypto currency? What does the bank have to offer such that it can not do this crypto currency? Banks only create unnecessary problems. They are completely subordinate to the states. Crypto currency allows you to transfer unlimited amounts of money quickly and without regulation

Granxis

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Quote from: ArnoldChippy on May 07, 2018, 03:34:08 PM

Quote from: Senja Kemuning on May 07, 2018, 02:58:45 AM

The role of the bank will always be important until whenever, this is because the bank becomes the main pillar to drive the economy, the bank will exist anytime because it is fully protected by the state.

Yes we have to accept that fact that the role of banking is still important in our life, in fact still majority of people do not know anything about bitcoin and even they know about it and using it but still they are not in condition to use bitcoin for everything for which they are already using fiat currency, therefore they are using bitcoin as an optional currency, and that is the reason that the use of banking system is important in our life.

Right, I think that banks are also trying to integrate crypto moneys, especially if crypto moneys are a threat to the bank, it would not be allowed to grow so much. I think all the banks are looking at the crypto moneys positively.

jovs

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Quote from: dwsgh on March 05, 2018, 11:37:39 PM

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?

The international trading industry and worldwide economic system is still bank based. It would take major adjustments and changes to abolish the banking system from the world exchange and even in a particular country's financial system. As of now, bitcoin exist even banks are still dominant in the market. The outcome of this relationship is yet to be reveal in the future. Will they co- exist sweetly? Will they compliment or break each other?

marites

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Yes of course.. There ia a big role of banks today..
Or if you are in bitcoin industry and gain a big amount of money the first step you should do is to save your money in to a bank for future.

icecube45

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Is banking still important in the bitcoin era? Yes I strongly agree with your opinion, the fact that for now the banking is still running and become a fatal part for a country, and most of us still use banking services or banking facilities. For some reason bitcoin can make banks to be left behind or abandoned and I think slowly bitcoin will reach the point where it replaces the banking position, in fact the banking system began to gradually follow the system of bitcoin (blockchain). But I think for now the statement "bitcoin era" is still too early for several reasons.

shaheer001

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No doubt banking system will boost up the Bitcoin price and value as bank is the only way to buy or trade bitcoin easy and fastest way.So if banks allow it then Bitcoin will in new era.

lehuong

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if says about long long feature and stable is also also the spectrum, which is a commodity that are about the interest out, the gain also also more than many place, you must choose the bitcoin, we we like the quality of the side

Aarti madan

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Yes according to me bank will end up doing deposits and lending on cryptocurrency... Very similar to any exchange today

Babatunde1989

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Capitally yes banks still have own role to play in our community

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