Topic: Is banking still important in the bitcoin era? - page 27. (Read 2260 times)
I think that the banks will not disappear for quite some time, It will take quite a long time until the banks disappear because of uselessness, but while they are important!
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. Banks are still important and really that valuable even at the Bitcoin era because here in our country, we still need the existence of our banks who funds out cash for the exchange of our Bitcoin into our regular currency because cash is still the most valuable type and widely accepted currency. Also, banks are not just for the saving of our money but also the national bank of a country makes researches and study well the new rising currency if it will be suited to be implemented or safe to be used by its people and together with the government, they do such decision making if such currency will be accepted or not in a state or country. Also, many people tend to use banks because of the other services offered that was not at the scope of Bitcoin's provided benefits. 
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?
Bitcoins must still be used alongside fiat money. Thus, the advent of cryptocurrencies will not shut banking activities; however it rather facilitate easy flow and smoothness in the financial system. We should'nt forget that not all people have the know to transact with cryptos and also banks offer other auxilliary services like store of valuable items among others
if you look at the current state, where 90% of crypto players, bitcoin owners, market, etc. rotate its assets to earn profits in the form of real currency. then I think the Bank is still very important, either as a medium for widraw, daily transactions (shopping, installment payments, paying electricity, etc)
Banking will still always be relevant and i think with time many banks will adopt the use of blockchain technology
I believe that crypto-currencies can be part of banks, and it will be a different organization, banks of a new generation. We are always waiting for some rivalry between them, but why can't they coexist together?
I don't think bitcoin can replace banks. It can be a great alternative for some money transactions, but we still have loans, mortgages, etc. Therefore, banks will remain.
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 banks are here to stay, in my opinion, I think Bitcoin needs the banks to survive right now. Without the help from the banks, Bitcoin falls flat on its face in it's current state. People need to be able to trade their crypto into fiat, because most of their life depends on using it fiat to buy groceries, pay rent or mortgage, buy gas, pay bills and utilities, etc.
Banks are still very important in this era because hundreds of millions of people use them everyday to receive their salaries there, to send money worldwide, to take credit cards and use them for shopping. Actually there a lot of people that don't own a credit/debit card since banks are still doing a lot of promotion on TV or internet and on billboards on the street. So banks will survive for a very long time because they have lots of customers and not many of them are going to choose bitcoin instead of a bank.
ooh yes.... banking is still kinda important... There have been implications that Bitcoins can be used to secretly launder money outside the country. Central banks across the world have been wary of Bitcoins as an uncontrollable and unpredictable form of currency. Cryptocurrencies are leading to loopholes in the current bank’s data about the money transactions leading to inability to track economic activities. Crypto and Cyberspace has emerged as a power in itself thus bringing a check on the activities of the so powerful governments.
Earlier all the monetary transactions were enabled through central banks (directly or indirectly). Now, with the evolution of Bitcoins, the scenario has changed. The power that was vested in the governments and central banks is shifting to the masses. This revolutionary change in transaction handling has the power to change the economic structure. To bring security and enable scrutiny, central banks and financial institutions maintain a record of all the transactions undertaken by the people. Now with digital currencies, this economic power can be challenged by people. This has led to the creation of a new autonomous body which can facilitate transactions. Ultimately if adopted on a large scale, Bitcoins can lead to the politicization of money.
Many things have changed with the discovery of Blockchain and CryptoMoney. Remittance transactions can now take place without intermediaries. And in seconds. When you want to send money from one point to another, there are no unnecessary legislations to wait. Send it whenever you want to send it. Country boundaries for transfer transactions remained. Transfer from one continent to another can occur within seconds. You can also keep the money in your wallet more securely. These are the facilities provided by the blockchain technology.
Everyone is curious. What will be the future of the banks?
It is useful to give an example. You should study the KoraNetwork project, which is based on Blockchain infrastructure. This project constitutes the decentralized banking sector in the blockchain infrastructure ...
Traditional banks have run out of life. There are two ways in front of them. They will either adapt to the new order, or they disappear ...
Everyone is curious. What will be the future of the banks?
It is useful to give an example. You should study the KoraNetwork project, which is based on Blockchain infrastructure. This project constitutes the decentralized banking sector in the blockchain infrastructure ...
Traditional banks have run out of life. There are two ways in front of them. They will either adapt to the new order, or they disappear ...
In the bitcoin era banking is not so important at all because every thing we can resolved with bitcoin itself so the conventional banking system has no specific role on it. If some body is undertaking a deal between a firm or an individual here with bitcoin the buyer and the seller only knows about it with out a third party interference such as banks. Bitcoin saves the processing time and the processing charge and the transaction between the buyer and seller directly..So the bitcoin is more convenient for the international trade.
of course Banking is still very important, there will always be people who prefer the traditional system and will shun crypto. Banking will be there for them, there is still loans and other financial services to be offered by the bak, and the national accounts to be kept.
Not very well i think. Because bank right now ate still valuaable for the goverment for their income and still there are lot people who still using a bank
Regardless of the power bitcoin wields, traditional banking can not be outdated. No way
Since newbie you may not aware of the bitcoin and banking comparison properly, if you understand it perfectly then you will be able to make money on bitcoin and know what banking doing towards bitcoin.
Traditional is not fiat cash mate. I has been introduced by the illuminati Rothschild.
All the Share market lead and economist well know about that better you need to read the book mastering bitcoins that will help you better.
Regardless of the power bitcoin wields, traditional banking can not be outdated. No way
Financial institutions like banks will not let go the power they now have. They now are in a position that they won't give up easily and they will do anything to eliminate cryptocurrencies or create their own. Even in the bitcoin era, we'll have to deal with banks.
yes banks are still very important because it is through these banks that we convert our crypto into fiat money , so yes they are still very integral as that bridge that connect the virtual money to the "real" money because out economies and local societies are still very much fiat based.What is left to be seen is if over time as fiat money becomes fazed out what persona these institutions will take on .
We are not in the bitcoin era yet, only in early stages.
Similarly, bitcoin hasn’t been mass adopted yet, so banks are much more important. It will take some time for bitcoin to pose a real treat for them, although banks are aware and have plans to use blockchain and to use their own cryptocurrencies.
I fully agree with you, the era of bitcoin will come only after 5 years at least, so I think that the answer to such questions is obvious Similarly, bitcoin hasn’t been mass adopted yet, so banks are much more important. It will take some time for bitcoin to pose a real treat for them, although banks are aware and have plans to use blockchain and to use their own cryptocurrencies.
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