Is banking still important in the bitcoin era? - page 29.

FLoving

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Quote from: Iggor on March 24, 2018, 04:36:43 PM

In Bitcoin era maybe not, but this is not Bitcoin era still.That will be when we use Bitcoin every day for most of the daily payments.
I think there will be some form of the bank in the future.

The work of banking system is not to store our money and to secure it but most of them are working as to manage the financial system of many organizations. They often become the part of an organizations by collecting the funds flowing towards that organization so the company pay them some fees and they get it easy to have a well organized system to manage their financial system. So in this era of bitcoin there will be a need of banking system. It is also a hope that banks will also start bitcoin.

ityandsyn

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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?

Yes, we need the service of banking for this era like "DATARIUS CRYPTOBANK" because they integrate the services for fiat money and cryptocurrency like transfer of funds for both fiat and crypto, and they offer also P2P lending but they keep on decentralization of the funds. There is a big difference of a traditional banking and the "DATARIUS CRYPTOBANK" soon.

millenniumcoin

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I think banking is still important in this botcoin era because, for now, bitcoin is gradually gaining world wide acceptance although many are yet to get involved because of various reasons, but banks are also useful because they play an important role in the financial system and the economy. As a key component of the financial system, banks allocate funds from savers to borrowers in an efficient manner.
Finally,in this btcoin era banks are still needed but with time, bitcoin may make banks less important because, in the near future, these services rendered by banks, may be taking over especially when almost everyone,nations, governments accept bitcoin world wide.

Doge dealer

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banks will always be a feature of any economic system , as they are necessary because we cant/wont spend all our earnings in one instant. keeping that money in store whether on our person or at home presents some particular security risk and cost that most of us are not prepared to deal with . banks will always be needed but what we will see is a drastic change in the way they operate and their organizational structures. crypto currencies must be stored, people will still want to invest, so there will always be a spot for this oligarchical institution in the new world order.

kripto para

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Of course it is. How else would you buy Bitcoin? A lot of people would not buy BTC if its just peer2peer.

Chrystora123

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Omicron is another FUD

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?

of course, the role of the Bank is still very important for now, we still need Bank as the place where we take the money,
although now the existence of the Bank is very disturbed by the presence of cryptocurrency and Blockchain technology.

Ausgewielt

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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?

But the fact is bitcoin is only new currency which have no enough power to make bank dissapear. Although bitcoin bring a lot of benefits for us butthe scalability issue is still prevent all peiple to use bitcoin. Bank wil always needed since it's one of governments tools to make the economy of country more stable. Most of people in this world are still need bank to store their money and process their transactions.

markleal

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HODL

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?

Hi there dwsgh, in deed. Even if most of the people will use cryptocurrencies in their daily business transaction, banks services will still run. Like for example providing loans is still fully operational and may even strengthen. The mind set of most people engaged in cryptocurrencies is to continuous increase their investment and banks is the number one source of loans that can be use in a particular investment. Banks could even expand their services as a wallet provider of cryptocurrencies, they even do it in gold so it can be doable in cryptocurrencies.

Iggor

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In Bitcoin era maybe not, but this is not Bitcoin era still.That will be when we use Bitcoin every day for most of the daily payments.
I think there will be some form of the bank in the future.

Cookie Man

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Banking is till very important as not everyone has the privilege to be engage in BTC, some still cant access it due to lack of internet connection, Bitcoin users may however prefer BTC to banks due to the fact that BTC offers more freedom from control and influence

danggoron

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Quote from: just_Alice on March 10, 2018, 06:55:55 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?

Banks are still very important institutions in any country, they make serious contributions to the development of the economy by promoting business. Banks also endow to the development of savings plans and are instruments of the government's monetary strategy. In modern society people are used to bank deposits and loans, cryptocurrencies today can't provide such functions, but they may be able in future.

In addition, national banks also have a role to safeguard and regulate the economic stability of a country. We need to know, bank functions not only for savings and transfer activities. Thus, although bitcoin will be allowed as an alternative payment, the bank will still exist.

TimofeiHabarov2807

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At first it was 50 bitcoins, but it was reduced by half every four years. They say the last bitcoin will be released in the middle of the XXII century.

just_Alice

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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?

Banks are still very important institutions in any country, they make serious contributions to the development of the economy by promoting business. Banks also endow to the development of savings plans and are instruments of the government's monetary strategy. In modern society people are used to bank deposits and loans, cryptocurrencies today can't provide such functions, but they may be able in future.

gamechangers

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Banks are still important in my country since we can't buy good yet with bitcoin. You need to first convert you cryptocurrency to fiat currency through an exchange that will credit your bank account and from there you can spend. I am sure this is not so in the developed countries.

dollarneed

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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?

For now bank is still important, very very important even though we don't like the bank it doesn't mean we don't use it, i can't deny that i can't live without bank I can't buy a coffee with bitcoin but i need fiat, i have to convert the profit that I've got from trading to the fiat through the bank, just be honest Bank is very important. I'm wondering if there someone here can live without bank, i mean transact in real life?

Marry Finch

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Bitcoin is a universal currency that eliminates the main minus of ordinary money, namely the absence of a central apparatus.
The issue of bitcoin does not belong to anyone. Anyone can get bitcoin like gold. Bitcoin ensures the availability and guarantee of the safety of your funds, as well as information security.

harimauagam

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What matters if there is no banking how to change the ETH to earn money, it is just a delay of transfer but still afraid to join bitcoin by banking because the state has not yet admitted about bitcoin.

PhucS

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Yes, I agree with you. We are approaching the 4.0 technology era, the development of blockchain technology as well as the excellent growth of Bitcoin has shown very good signals in the economy. But the role of banks is still huge, they can regulate the economy and maintain economic stability in each country. Banks are also essential for the elderly or those who do not know Bitcoin, because they will be directly solved or supported about finances. This is just my opinion

PonPonchik

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Bitcoin is a currency, it follows that the bank is very important and necessary.

worle1bm

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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?

Banking system cannot be undermine inspite of bitcoin gaining importance in future because it has its seperate entity and provide services to society like providing loans and legal cash required to fulfill daily requirements of ones life.It has build faith over the society and btc on the other hand being decentralized mode of payment which is future of transactions cannot dilute its importance.Banks are here to serve for long period and provide services to customers. They are financial institutions of country and in their absence there will be chaos and no proper functioning will be there.

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