Topic: Is Bitcoin replacing the future banking system ? - page 5. (Read 392 times)
Not replace, since majority for now is still and will use money to save or put amount in their saving account, but Bitcoin may fasten things when it come to depositing money from online to bank account since you don't need to walk to the bank to save but only send it online and check the transaction if its verified and done.
I think that in the future the system of banks will be completely changed. It will become a decentralized repository. Very fast and safe.
I think that bitcoin and other altkoins will necessarily replace the future banking system. They will change the entire global financial system.
I do not think it's possible to see many banks against bitcoins now, they probably are afraid of being replaced by a more modern blockchain system. So with the development of the times, I have seen many banks have the latest innovations developed in which the society can be easier in transactions.
Seeing the current development of Cryptocurrency is very fast, it is not impossible if Bitcoin and Cryptocurrency will replace the banking system that is currently in use. of course the more advanced, more modern technology. and it is not a thing of perception if Cryptocurrency replaces banking.
That is the intention of the crypto world and it is attracting fear to the banks and to the government and they fighting the crypto world at all cost in other to stop it vision.
I believe that time will come soon and we will completely abandon paper money and the banking system.They will be replaced by bitcoin and altcoins.More precisely, the world of digital money and digital technologies will come.The machine is already running and there is no turning back.So if someone does not know where to invest-my advice to you in cryptocurrency.
The banking system does not need bitcoin but it will certainly use this awesome blockchain technology in future. In case of bitcoin i think it will remain as the same thing as today.
The Technology behind bitcoin blockchain is replacing future banking system soon we can see blockchain based transparency banking system
I do not think that will ever happen, because the interests of the current banking system and the principles that gave rise to the cryptocurrencies are absolutely opposite and irreconcilable, so I think that for a long time both financial schemes will continue to march on its own paths, although I think that with the passage of time there might be certain points of encounter and coincidence as there is a growing regulation towards the use of cryptocurrencies.
In any case, the interference of banks in the ecosystem of cryptocurrencies should never be considered as desirable given the merely speculative and immoral interests of the current banking system.
In any case, the interference of banks in the ecosystem of cryptocurrencies should never be considered as desirable given the merely speculative and immoral interests of the current banking system.
I don't think it will be able to replace the future banking system. More people will use and own it but it would remain as that, an asset or a currency and it will co-exist with fiat money. Banks would find a way to not lose their business and they are currently studying or maybe some even started already the implementation of blockchain technology to combat cryptocurrencies. Blockchain is being studied by big companies already and there is no doubt that if ever the users of cryptocurrencies will grow, maybe they would eventually launch their own crypto like what Venezuela did. It would be like a crypto but controlled by banks and government.
Completely replace can not, because bitcoin is not controlled, but banks can use the concept of blockchain to simplify online transfers and transac- tions
I was thinking about the Bitcoin and it's Future in Banking . can it remplace money in transactions ?
No it will not. Bitcoin's price is too high to replace a regular currency. Likewise, it would be difficult also that all people people in the world would own a bitcoin. In my country alone, we have 100 million people while there are only 21 million supply of bitcoin. It would impossible also to replace physical money.
It doesn't really matter what price Bitcoin is. You will start counting in satoshi as soon as the price reaches a certain point and is used worldwide as currency.
Going back to the OP question, i believe it will replace money we have nowadays for transactions in the next 10 years.
I do not think that will ever happen, because the interests of the current banking system and the principles that gave rise to the cryptocurrencies are absolutely opposite and irreconcilable, so I think that for a long time both financial schemes will continue to march on its own paths, although I think that with the passage of time there might be certain points of encounter and coincidence as there is a growing regulation towards the use of cryptocurrencies.
In any case, the interference of banks in the ecosystem of cryptocurrencies should never be considered as desirable given the merely speculative and immoral interests of the current banking system.
In any case, the interference of banks in the ecosystem of cryptocurrencies should never be considered as desirable given the merely speculative and immoral interests of the current banking system.
what about ripple? isnt that a mix of both inerests? i dont think their interests are absolutely opposite, both are providing a similar service and banks can profit from cryptocurrencies as xrp shows so why should they be so opposite?
I believe that Bitcoin will eventually be able to replace the transaction in the banking sector, but we need time for this, the transaction speed is still too small.
I was thinking about the Bitcoin and it's Future in Banking . can it remplace money in transactions ?
No it will not. Bitcoin's price is too high to replace a regular currency. Likewise, it would be difficult also that all people people in the world would own a bitcoin. In my country alone, we have 100 million people while there are only 21 million supply of bitcoin. It would impossible also to replace physical money.
There are also fractions of bitcoin. There is no need to have 1 bitcoin. And the limited supply is one of advantages of bitcoin. It's great that it is impossible to print money.
I personally think that bitcoin introduced the technology and probably another coin which might has not created yet, can play the role for the transactions.
I was thinking about the Bitcoin and it's Future in Banking . can it remplace money in transactions ?
I has the potential to do so, and many high profile figures think the same, but if that ever happens it would be in decades from now. Probably only after the world experienced some great crash again, or more than one. Before that, I do think banks will use blockchain to compete with Bitcoin, or to try to send the message that we don't need BTC to have fast transactions. The thing is, that BTC wasn't created to just speed up transactions. It was created to be a decentralized currency, with all the advantages that brings. Of course governments probably wont like that a lot, and banks will definitely hate it, so it will be hard for that switch to happen. I think think we will first just see BTC as an "improved PayPal". Only after it succeeds as a payment system, it can aspire to become something more.
I was thinking about the Bitcoin and it's Future in Banking . can it remplace money in transactions ?
No it will not. Bitcoin's price is too high to replace a regular currency. Likewise, it would be difficult also that all people people in the world would own a bitcoin. In my country alone, we have 100 million people while there are only 21 million supply of bitcoin. It would impossible also to replace physical money.
No, the world will not allow a decentralized system to take over the financial system of each country. Bitcoin will just be an alternative to banks, once it goes mainstream (one day I hope) people will look at Bitcoin as another alternative for payments, but banks will still be around, there's just so much stuff going on behind the banking system (god things and bad things behind the scenes) that it'll be pretty difficult for it to dissapear.
I think banks will either implement the blockchain technology into their system for a centralized digital currency to try to compete with Bitcoin and other cryptocurrencies, or they'll learn to coexist with the cryptosphere.
I think banks will either implement the blockchain technology into their system for a centralized digital currency to try to compete with Bitcoin and other cryptocurrencies, or they'll learn to coexist with the cryptosphere.
Bitcoin will never replace the future banking system but the technology behind bitcoin the blockchain may certainly replace it, as you can see people are starting to learn it especially those who in a financial institution. There are so many advantages if blockchain could be implemented on the our conventional bank system such as lowering cost, cut middleman, acceleration etc. I'm waiting for the firs bank in this world fully adopt it.
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