Say Goodbye to Banking as We Know It - page 4.

makolz26

sr. member

Activity: 714

Merit: 254

Quote from: White Christmas on January 17, 2020, 11:23:30 AM

Quote from: Colt81 on January 17, 2020, 10:52:21 AM

Crypto users are assuming that banks will really disappear in the future because most people nowadays now uses cashless payments when making a purchased, that is why there are chances that cash will also disappear in the future. But i think people still need cash because cashless payments is not that secured when it comes to hackers that they can easily access to your online wallets to steal your funds, so it is still safer to use banks and physical money like cash.

It is impossible for cash to disappeared because paper money and the world bank will not let it happen, paper money is the one who are revolving around us and it is very hard to disappeared it as some point because many people are still being ignorance on what cash less is and they are intact on what they have been doing all they long which is they prefer cash as a payment for any transactions or when they are buying some product in some malls or eating in a restaurant, because this are the one that they are intact into, and this are what they are doing before so it is very hard to say that paper money will disappear as well as the banks.

So far, we can't really say that banks will really disappear for now, we know how powerful they are that they wanted to control everything, our money, our economy, so for sure they will do something that will prevent crypto or will add crypto to their option, let's see, for sure you they are doing something right now that will surprise us.

GideonGono

hero member

Activity: 2086

Merit: 501

★Bitvest.io★ Play Plinko or Invest!

Quote from: k@suy on January 17, 2020, 01:07:21 PM

Quote from: Silberman on January 17, 2020, 12:25:56 PM

Quote from: ?? on ??

The old banking system is most likely to be discarded, now many banks around the world have turned their banking system into digital. And this is a sign that each bank is going to create its own centralised cryptocurrency so it can be regulated. Like China, which supports the technology of blockchain to make its own cryptocurrency. So it's no surprise now that not only the nation has begun to embrace cryptocurrency, but several businesses, including several banks, have started to plan to adopt cryptocurrency. So it can be said that we know it to say goodbye to banking. Because if the bank doesn't want to die, inevitably it has to follow technological developments.

But that doesn't really mean anything, banks have always adapted to the changes in the technology of the world, at the beginning banks accepted gold, then they accepted fiat, and then they allow the use of credit cards, so it is completely natural at some point in the future they are going to accept cryptocurrencies and in some cases they are going to create their own cryptocurrency as well, this doesn't mean that they are disappearing this just means that they are adapting.

Yes the banks have the tendency to allow the usage of bitcoins and any other altcoins if and only if the government of a certain country allows it. Because the approval and the decision is in the hands of the government employees and also on the members with higher ranks. They are the one whos in charge in deciding whether they will implement or allow the bitcoin as a means of payment or not.

Yup, it is depend on the community or store on how they can accept the crypto but if you convert into fiat then that was good. The good for direct is you didn't need fee if you want to use your coin unlike converting it.

Bank would not being disagree on crypto because crypto must have own wallet like bank and must better to be used also for profit but have a high risk than bank.

Spaffin

full member

Activity: 1316

Merit: 108

At least for me, the banking system has never been something negative. If it was a matter of debt for a loan or large interest on a loan, then these are the conditions of the bank, to which a person initially agrees and no one forces him to sign a contract. But in this situation, in my opinion, the state and the government have more blame if the person is forced to sign harsh conditions. But such ties with banks are beneficial for the state, because governments control their citizens with banking information. Although by and large it does not bother me. Since I constantly use banking services, I hope that with the help of blockchain the system will provide customers with a wider range of services. Not all people will be able to personally deal with cryptocurrency issues, but everyone can own for example bitcoin. In this case, people can carry out the storage and transfer of cryptocurrency funds using their banks. But since banking is controlled and governed by certain laws, the implementation of the above requires the full legalization of cryptocurrencies.

k@suy

sr. member

Activity: 882

Merit: 269

Quote from: Silberman on January 17, 2020, 12:25:56 PM

Quote from: ?? on ??

The old banking system is most likely to be discarded, now many banks around the world have turned their banking system into digital. And this is a sign that each bank is going to create its own centralised cryptocurrency so it can be regulated. Like China, which supports the technology of blockchain to make its own cryptocurrency. So it's no surprise now that not only the nation has begun to embrace cryptocurrency, but several businesses, including several banks, have started to plan to adopt cryptocurrency. So it can be said that we know it to say goodbye to banking. Because if the bank doesn't want to die, inevitably it has to follow technological developments.

But that doesn't really mean anything, banks have always adapted to the changes in the technology of the world, at the beginning banks accepted gold, then they accepted fiat, and then they allow the use of credit cards, so it is completely natural at some point in the future they are going to accept cryptocurrencies and in some cases they are going to create their own cryptocurrency as well, this doesn't mean that they are disappearing this just means that they are adapting.

Yes the banks have the tendency to allow the usage of bitcoins and any other altcoins if and only if the government of a certain country allows it. Because the approval and the decision is in the hands of the government employees and also on the members with higher ranks. They are the one whos in charge in deciding whether they will implement or allow the bitcoin as a means of payment or not.

Silberman

legendary

Activity: 2534

Merit: 1338

Quote from: ?? on ??

The old banking system is most likely to be discarded, now many banks around the world have turned their banking system into digital. And this is a sign that each bank is going to create its own centralised cryptocurrency so it can be regulated. Like China, which supports the technology of blockchain to make its own cryptocurrency. So it's no surprise now that not only the nation has begun to embrace cryptocurrency, but several businesses, including several banks, have started to plan to adopt cryptocurrency. So it can be said that we know it to say goodbye to banking. Because if the bank doesn't want to die, inevitably it has to follow technological developments.

But that doesn't really mean anything, banks have always adapted to the changes in the technology of the world, at the beginning banks accepted gold, then they accepted fiat, and then they allow the use of credit cards, so it is completely natural at some point in the future they are going to accept cryptocurrencies and in some cases they are going to create their own cryptocurrency as well, this doesn't mean that they are disappearing this just means that they are adapting.

White Christmas

sr. member

Activity: 882

Merit: 258

★Bitvest.io★ Play Plinko or Invest!

Quote from: Colt81 on January 17, 2020, 10:52:21 AM

Crypto users are assuming that banks will really disappear in the future because most people nowadays now uses cashless payments when making a purchased, that is why there are chances that cash will also disappear in the future. But i think people still need cash because cashless payments is not that secured when it comes to hackers that they can easily access to your online wallets to steal your funds, so it is still safer to use banks and physical money like cash.

It is impossible for cash to disappeared because paper money and the world bank will not let it happen, paper money is the one who are revolving around us and it is very hard to disappeared it as some point because many people are still being ignorance on what cash less is and they are intact on what they have been doing all they long which is they prefer cash as a payment for any transactions or when they are buying some product in some malls or eating in a restaurant, because this are the one that they are intact into, and this are what they are doing before so it is very hard to say that paper money will disappear as well as the banks.

Colt81

sr. member

Activity: 630

Merit: 265

Crypto users are assuming that banks will really disappear in the future because most people nowadays now uses cashless payments when making a purchased, that is why there are chances that cash will also disappear in the future. But i think people still need cash because cashless payments is not that secured when it comes to hackers that they can easily access to your online wallets to steal your funds, so it is still safer to use banks and physical money like cash.

slashz9

full member

Activity: 1554

Merit: 101

okay to note that China issued its own currency of course the government or banks have access to it, so it might still be the same but with a different version, I mean centralized digital money, so there is no different with now.

Bezobraznike

sr. member

Activity: 1274

Merit: 261

★Bitvest.io★ Play Plinko or Invest!

Quote from: EdvinZ on January 17, 2020, 02:20:33 AM

Perhaps China will indeed become the first country to launch its own digital national currency. But I think this is not a reason to say that America is lagging behind China in development. In the United States, technological progress is much more versatile. And I think that the leading countries of the world are also able to launch their own digital currencies, if the economic situation requires it.

Countries can launch their own coin, they will have to make changes in their infrastructure, but it's possible. It will be a centralized coin
with government as a head manager of the coin, they will be able to manipulate with supply of that coin.
People needs to learn what is decentralization, for me that is a better and more fair system. We need to say goodbye to the current banking
system as we need to say goodbye to many governments.
Question is are we ready for open world? Are we ready to be normal and good without masters who control us?

Janation

hero member

Activity: 1722

Merit: 528

Quote from: EdvinZ on January 17, 2020, 02:20:33 AM

Perhaps China will indeed become the first country to launch its own digital national currency. But I think this is not a reason to say that America is lagging behind China in development. In the United States, technological progress is much more versatile. And I think that the leading countries of the world are also able to launch their own digital currencies, if the economic situation requires it.

I also think it would be China.

This country is now leading with a lot of people or users using their mobiles as their payment method. As this continues, it will be leading to development of their own digital currency and we don't know, maybe other countries will do the same.

Polar91

hero member

Activity: 1120

Merit: 553

Filipino Translator 🇵🇭

Quote from: EdvinZ on January 17, 2020, 02:20:33 AM

Perhaps China will indeed become the first country to launch its own digital national currency. But I think this is not a reason to say that America is lagging behind China in development. In the United States, technological progress is much more versatile. And I think that the leading countries of the world are also able to launch their own digital currencies, if the economic situation requires it.

I think it goes the other way around, blockchain projects are much more prominent in china and there is currently no update concerning them to create their own cryptocurrency as a national currency as well. For us to have a better world and economy, we should regulate money by means of alloting funds for improvement, if bitcoin and crypto today will not allow that to happen, I can see big countries will look for options to do that to align their country to innovation.

EdvinZ

sr. member

Activity: 994

Merit: 260

Perhaps China will indeed become the first country to launch its own digital national currency. But I think this is not a reason to say that America is lagging behind China in development. In the United States, technological progress is much more versatile. And I think that the leading countries of the world are also able to launch their own digital currencies, if the economic situation requires it.

romero121

legendary

Activity: 3234

Merit: 1214

Vave.com - Crypto Casino

However things go advanced there won't be a scenario to bid good bye to the banking system. It is the universally accepted system that has helped in economic development of the country. Maybe the platform gets updated to the growing need, but the banking industry will remain the same. Right now understanding the need of the upcoming generation and to stand against the growing crypto market, banking industry have begun to adopt the blockchain technology. Likewise updation will take place continuously.

hello_good_sir

hero member

Activity: 1008

Merit: 531

Quote

According to this, china sped up development of its national digital crypto currency after facebook announced its libra plans and could release it in 2020.

One of the things that made america great was it being a previous hotbed of innovations and futuristic progress.

Today lawmakers appear determined to ensure america does everything within its power to oppose and obstruct innovations like bitcoin/blockchain/crypto.

It certainly makes sense from a policy point of view to get into launching on your cryptotokens before any private sector businesses starts to do so in your country, which could undermine the ability for a central bank to conduct meaningful monetary policy.

However, I think that China's development of their own centralized coin has already been underway or at least in talks a long time ago, and this is just an extension of these activities.

You're also right about the fact that a lot of countries aren't very progressive in the field of financial innovation. Instead of regulating the cryptospace positively they seem preoccupied with limiting and restricting access, which makes no sense imo.

greatr

sr. member

Activity: 447

Merit: 250

The old banking system is most likely to be discarded, now many banks around the world have turned their banking system into digital. And this is a sign that each bank is going to create its own centralised cryptocurrency so it can be regulated. Like China, which embraces the technology of blockchain to make its own cryptocurrency. So it's no surprise now that not only the nation has begun to embrace cryptocurrency, but several businesses, including several banks, have started to plan to adopt cryptocurrency. And it can be said that we know it to say goodbye to banking.

sisule

sr. member

Activity: 420

Merit: 250

By the way how to make deposit and buy bitcoin with cash money without deposit by using bank, do you have other way look easy when you want transfer your cash money to bitcoin account and try to buy bitcoin with higher amount without use bank? I think bank look easy way how to want deposit our cash money and buy bitcoin, exactly when made withdrawing look easy with using bank.

Silberman

legendary

Activity: 2534

Merit: 1338

Quote from: carlzec on January 12, 2020, 02:47:19 PM

Classic banking isn't going too well. Bitcoin and its derivatives push the limits of banking. Because not everyone has a bank account. Smart phones have entered our lives. Each phone can now be considered a bank. Banks will continue in smaller units. Banking is obliged to change.

Banks are already adapting, it is true that you can use your smart phone as your own bank, but are you using a banking application to do that? Then you're still using the bank, as this becomes more popular banks will find unnecessary to keep as many physical locations as they have now and they will reduce their costs that way, so make no mistake banks are going to remain competitive for a very long time and even if cryptocurrencies take over the world I'm sure that banks will continue to exist.

AicecreaME

sr. member

Activity: 2436

Merit: 455

Quote from: squatz1 on January 02, 2020, 11:11:01 AM

So we think that China, the government with the most oppression in the world which spys on its Citizens through the usage of a points system and biometrics on a daily basis, is going to lead the way on digital currency adoption? Hell no, that's bullshit.

China wants to use this to spy on their people even further. The ONLY current way that people are able to skirt the governments eye is by using cash, but you can't do that if the country forces you to use, then they're going to continue to spy on the people. They're going to push cash out of the economy because you can't spy on cash but you can SPY on digital cash.

If you are saying this because of the issue that is happening right now between China and Hongkong, then you should not worry. Even if the Chinese government will implement this just like what you have said, the Hongkong people will not be fazed because they do have their own Government, and they don't give a fuck about Chinese Government that is why they are opposing it for a long time.

However, for the people in China, I guess they wouldn't mind or won't even have doubts about it since they don't know that much when it comes to the government performing dirty little secrets even in fiat.

chaoscoinz

sr. member

Activity: 1150

Merit: 260

☆Gaget-Pack☆

Wow China seems to have the right idea, better to create it's own cryptocurrency than to have it's citizens steer off course and join Facebook's Libra project, that's if Libra ever gets off of the ground and is able to jump through all of those legal hurdles congress is throwing at it. I think it is smart to have a digital stable coin then a cryptocurrrency like Bitcoin whereas the volatility can be nightmarish with those violent swings it has sometimes.

Danne87

jr. member

Activity: 43

Merit: 1

Quote from: Karmakid on January 13, 2020, 05:34:44 AM

Quote from: Edraket31 on January 13, 2020, 04:56:19 AM

Quote from: bdivrik on January 13, 2020, 04:16:36 AM

The banking system has long emerged. In fact, Zigurats can be an example in historical ages. I don't think they're gonna disappear now. They will probably undergo a technological shift. I think classical banking will undergo change.

For sure Banks will adapt the changes and will add crypto in their option, I don't think that banks will just disappear as we all know how they play in our economy, they are controlling our financial system and once they found out how many people and how much money in the crypto market for sure they will do something for it.

The banks are already moving and creating their action to the demand for cryptocurrencies or digital currencies. We can see from the news that they are creating their own cryptocurrency and implementing the blockchain technology. They don't want to get left behind and lose the game in the financial industry and in the next 5-10 years, all of the sectors in financial industry will be blockchain powered.

and in fact, if large banks want to, then the value of their currencies will be much more reinforced than bitcoin.

Topic: Say Goodbye to Banking as We Know It - page 4. (Read 1911 times)