Is banking still important in the bitcoin era? - page 33.

shahzadafzal

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Quote from: Herbert2020 on March 06, 2018, 12:54:07 AM

banks are still used by many people and are still useful and anything that is used and useful will remain important for as long as they continue to be the same. and the "bitcoin era" doesn't have to change that. a bank is a financial institute that gives certain services for money and bitcoin is a new form of money so they can simply change the type of services they are offering.

Quote from: shahzadafzal on March 06, 2018, 12:50:11 AM

What if I tell you "Exchanges" are the new banks!!!

then you would be wrong because exchanges are only a place or a platform where people go to meet and exchange currencies and nothing more.

Well I did not mean it in that way, but still i stand to my claim as this I have been discussing with peers too.

Firstly yes banks are not going any where agree with you. But as per the services which banks are providing let say "loan" yes there are some exchanges which offer you loans too. Then banks are giving you profits so does the exchanges. My point is Exchanges are the new type of banking not a traditional banking services but with time you will see more and more offers coming from exchanges. For example Direct merchant payments, they can be your bank guarantee they have strong KYC even stronger then some banks these days. So day by day these exchanges playing some roles in re-shaping our traditional payment methods.

CodyAlfaridzi

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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, yes. We're not quite there yet. Only a small portion of people know Bitcoin and its regulation is still unclear. I even doubt that we will see the disappearance of banks in our lifetime, even if Bitcoin and cryptocurrency have become even more popular. The future of global financial is so uncertain, and that makes it interesting. My money is on Bitcoin though

boboking

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Quote from: Don Pedro Dinero on March 06, 2018, 12:32:06 AM

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 agree, at this stage we are in right now on cryptocurrency, banks are still very important because they play a huge role on a countries economy. Imagine how much loaned money each country has on the world bank. In the future maybe they will have a smaller role in the economy but this bankers are smart and i am pretty sure they will use the blockchain technology sooner or later.

madainfamous

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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 do really matter specially in today's bitcoin era. Through these banks we were able to deposit our money in the crypto that we wanted to invest. Even though we can consider today as bitcoin era, they still differ on the market that they cater. Bitcoin, p2p and online exchange sites are created for transactions of cryptocurrencies. While banks are created for fiat exchanges, a way to keep and save our real money. Banks also adapts to the booming technology that's why it will still continue even if digital currency has been a thing.

Herbert2020

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banks are still used by many people and are still useful and anything that is used and useful will remain important for as long as they continue to be the same. and the "bitcoin era" doesn't have to change that. a bank is a financial institute that gives certain services for money and bitcoin is a new form of money so they can simply change the type of services they are offering.

Quote from: shahzadafzal on March 06, 2018, 12:50:11 AM

What if I tell you "Exchanges" are the new banks!!!

then you would be wrong because exchanges are only a place or a platform where people go to meet and exchange currencies and nothing more.

shahzadafzal

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What if I tell you "Exchanges" are the new banks!!!

Sar elok

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I agree with you. The Bank will still play a role as usual. Although a lot of the things that hindered his journey.

Kakmakr

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Leading Crypto Sports Betting & Casino Platform

There is a market share for everyone. Banks will be the preferred network for much older people who are not capable to handle their own financial affairs. The people who still need face-to-face interaction with people, to solve their problems. The younger generation wants a much faster network that suits their fast paced online life and Bitcoin is filling that need.

Bitcoin also gives younger people independence from authority. You might be too young to handle your financial matters when you use Banks, but Bitcoin makes no distinction with age.

Don Pedro Dinero

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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.

Btcvilla

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I think yes, regardless of the excess bitcoin
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. Yes, the state needs banking to manage money and other resources.

ballerin and giroud

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Actually our Wallet is a bank, but another topic with what you say. Back on your topic, until now bitcoin still need bank to deposit or to withdraw money from our bitcoin wallet, because if without bank we can't do both. Unlike the case if bitcoins have their own banks (like traditional banks) it's certainly they (traditional banks) are no longer needed for bitcoin users or cryptocurrency users. For now it's a bit of a possibility for bitcoin to make banks especially in countries that still forbid world of crypto (mostly developing countries) maybe in the next few years will come true.

arakate93

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of course, the bank has its own role in a country, its small example as a container for lending capital, other credits and as its, even though the development of crypto world is very rapid, but the bank has its own role, and they will not close the company, maybe later them will follow also the current development of the crypto world

dwsgh

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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?

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