Maybe he's exaggerating. It doesn't seem like we won't need banks really soon. I think that may take decades and centuries.
It absolutely banks still remain even cryptocurrencies are widely used by the community. We even think that not all establishments will do accept any crypto currency payments and besides, we can still have banks for deposits cause online wallet isn't secure than of the banks. This is the way we took safety assurance to our money. 
Topic: Soon we would not need banks - page 13. (Read 3715 times)
Maybe he's exaggerating. It doesn't seem like we won't need banks really soon. I think that may take decades and centuries.
I think that's true. Because Bitcoin is better than a bank. You yourself manage your money. Bitcoin works 24/7 always and everywhere. It is very convenient.
I think the future will still need a bank because I am sure there are some people who still use paper currency and do not understand digital currency so they have the right to choose to keep using paper currency and still use the bank to store the assets they have.
I think banks and crypto can co-exist. This is the future of the world's finances, although the popularity of bitcoin is on the rise, it is hard to say that bitcoin and the other crypto will replace the banks. The future of bitcoin looks great, but the banks would surely exist by incorporating crypto into their activities.
The Ceo of Bitcoin cash recently stated that soon people wouldn't be needing banks anymore.Does it mean the world is going crypto soon or he is just bluffing.
The inquiry is how soon it will be or is it extremely conceivable to occur? Since for me it is unthinkable that banks will end up futile later on as this foundation is the most trusted and the most secure place to keep our cash simply like it is incomprehensible that fiat will be supersede by the BTC later on. BTC is great as elective investment yet not for genuine spending.
Maybe you or others can do without banks. However, in general, a society without banks will not be able to manage. Many people still take loans from banks, place their savings on deposit storage and are not going to refuse banking services. Legal entities in general, in my opinion, will not be able to do without banks, as banks serve their accounts. The state and its bodies can not do without the existence of banks. The banking system serves the country's budget, state banks have become almost a part of the state. Therefore, banks will always exist.
This will be happen in near future because the world is becoming digital according to time. but this process will take huge time to happen this.
I am not sure this is going to be true. To be honest, I think the crypto world will have a hard time eliminating fiat and the banks. But perhaps it could exist side by side, so that people will have a choice whether they want to use cryptocurrency or the traditional banking. What do you think?
This is my opinion too since I first met my bitcoin. As a person working in the banking sector today, I do not think the banks will survive in the near future. Cryptocurrencies can change the financial system completely.
I think the bank will survive in that it will be transformed into something else, because if the regulations proposed now later works out , a part of the government will act as a bank but it won't just be called bank
I do not think the bank will disappear but the bank will probably see the potential of blockchain and cooperation with Bitcoin. Because blockchain is the most advanced technology today has a great influence on the bank.
Whatever money there is in the world - fiat or crypto, banks will always be. I am sure that full decentralization is impossible. Most people need centralization.
If crypto and decentralization comes into picture completely then banks will just turn into crypto exchanges and may try to hold their customers.
I think it was that the banking system in the world is going through bad times. People's trust in banks is falling, and cryptocurrencies are the only alternative now.
It is very difficult if the bank is removed from the system. because most banks around the world support the economic growth of a country. but cryptocurrency will become a bank when they are widely used in the world. Maybe some banks will evolve, banks will use blockchain technology, continue to work with cryptocurrency.
I don't think it will be soon, it must be need to some time because I don't think they don't need central bank.
it will be happend in the future but we all dont know when this will happend.
it will be happend in the future but we all dont know when this will happend.
Its obvious that he is going to say that, but is that going to become a reality? Soon? How long is soon? It sounds too good to be true, it might be true sometime, but right now? It sounds just like a good dream, but I hope that his words become true.
The Ceo of Bitcoin cash recently stated that soon people wouldn't be needing banks anymore.Does it mean the world is going crypto soon or he is just bluffing.
I am a little less agree with your opinion, because in my opinion we still need a bank to insert money in physical form, such as banknotes and metal, we cannot just entrust our btc in a wallet with a high level of hack risk plus the bank has management and better security
No. I'm of the opinion that banks still play an integrate part in the financial system of every economy. Without banks, the economy can't normally operate. The function of crypto isn't the same as that of banks. Banks make capital move from surplus to deficit, cryptos can't do that.
Siding your point, banks do play a vital and financial role in the system of economy.
Though evidently true that bitcoin can operate without a bank in between, banks will be around until unless governments decides to accept bitcoin as a legal tender with full backing of the governing authorities.
Additionaly, as long as the government is happy with the centralized power banks gave them, i think banks are here to stay. And we too can expect that a year from now, we will start seeing banks embrace cryptocurrency too.
For me it will took a very very long time for banks to exit the finance world, because many people nowadays are not yet satisfied or knowledgeable about crytography . And many business will be affected when banks will not exist but I know because of our growing technology all the banks will be digitalize, we will just use internet for transactions and many stuff.
Jump to: