Topic: Is banking still important in the bitcoin era? - page 6. (Read 2285 times)

This is a very good one and will most likely become one of the heated discussion about BTC. The reason being is that, BTC utterly destroys the money making scheme of banks. Banks primarily earn money by allowing the people to deposit their money in a very stagnant (with very very little interest rate on it) financial vehicle. The banks then of course use this money to lend to people, and circulate the money but still keep a good amount of money for the depositors to withdraw their money at any point in time. Imagine if people can easily store their money in an e-wallet or just dispose majority of their fiat money and turn it to bitcoin for transactions. There'd be no point in keeping your money in the bank. If the Bitcoin will become as stable as the fiat money, trading and exchanging of currency will be of very little cost. You can make an exchange to the other side of the world instantaneously, you can store your purchasing power in it with very little risk of being affected by the inflation.

This only my opinion but in the near future, if BTC will be accepted and adopted by our government, the banks still be playing a very important role but they will take a MASSIVE hit as a lot of people will be transferring their money in bank to get a portion of the digital currency.

Yes, banking is still important nowadays because most people around the world use banks mostly for completing their financial transactions. The whole crypto community is still a minority compared to the global community. We have to wait several years until banking get replaced by Bitcoin and crypto currencies.

When Bitcoin and other cryptocurrency are all in use, no fiat money anymore, then I don't see any use of banks and other financial institution. But for now, banking institutions still have a role in our economy.

It sure is! Banking is very important for us to have complete order in the society. If ever we get to lose the banks, this world will literally fall into chaos. I say this because like most of the people here, I see that there are still loads of flaws not in just bitcoins but also on the other cryptos that exists nowadays. I think that until these flaws gets eliminated all at once, there will be no chance for cryptos to take over.

The Bank performs the functions of assessing and calculating the risk of non-repayment of the loan and setting an appropriate rate for its repayment. When borrowing through crypto currency, you need to have some kind of collateral. So the banks will continue to exist for a long time.

The bank in my opinion is still very important, the bank is a place to save assets .. banks facilitate us in terms of taking money. what if no bank, how a country manages state finances.

I think that the banking system will play the great role even when the whole mankind will start using the cryptocurrency. Cash and credit cards will be needed.

I think the existence of the bank is very important in the bitcoin era. Because banks are involved in economic reforms, basic economic indicators such as GDP, import-export, investment,  State budget revenues and expenditures, social evils and people's lives have been improved.

When it comes to crypto we can usually use our wallet as a bank and the good thing is it can generate a profit also but in when it comes to bank the security of our many is much safer but the disadvantage our money is not generate a profit because bank use our money to the credit and their the one who gains a profit but still I believe we need bank in a bitcoin era because if we convert our crypto usually we convert it to the bank.

i think banking are still using in the kind of this era, but in the different thing bank just using for some loan or just for the big legalize thing used

If I think banks are still in need even though there is already bitcoin to store assets that we have because this bank is a place to dilute the funds obtained from bitcoin because without banking we can not take the results of trading and mining bitcoin this.

yes, of course. Bank is still important in the bitcoin era, because bank still play their role, funding and lending. The big banks maybe will have own crypto.

I'm concur with you that banks are as yet critical to us. Additionally, I imagine that banks are going to actualize blockchain innovation in their organizations to improve even administration for us, dissimilar to what we are presently accepting.

I'm agree with you that banks are still important to us. Also, I think that banks are gonna implement blockchain technology in their businesses to make even better service for us, unlike what we are now receiving.

Saving money will execute blockchain as of now began yet we will see more to come to not so distant future more banks coming into blockchain space empowering for cryptographic forms of money too.

Banking will implement blockchain already started but we will see more to come to near future more banks coming into blockchain space encouraging  for cryptocurrencies as well

In my opinion yes banking is very important because banks has a big role in the world.and For me using bank for your money is I feel safe better than keeping your money in your house. Sometimes it use our money in uneccesary things.that's why banking are important to keep  our money safe.

                  In my opinion, banks are still important. The economy of a certain country would never circulate without banks, and yes i agree with the few of you guys saying that banks has their own certain role in each country. The government will not really just let it slide most especially when the word money is involved.

Yes because banks played an important role in the society most businessman are using banks in their transactions in giving salaries to their employees it is also known for their capability in giving loans to some people additional capitals and even car and housing loans.

I also think that bank is still very important as well. Because bank is the one who kinda has a great control of the economy. Control the money flows, inflation and such.
And also, without bank i think we will be limited to do anything. We can't lend money anymore to invest or start business, we can't save our money and such. Although this era cryptocurrency is already popular, i don't think it means that bank should disappear.
Cryptocurrency surely a threat for bank, but we can't deny that we need bank services so much in our life. It'll be better if both of them, cryptocurrency and bank can support each other without hurting one another.