Soon we would not need banks - page 2.

Suguha

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Quote from: lebron on August 27, 2018, 01:47:50 PM

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.

his words may be come true because as the time goes by the technology is upgrading do it is not possible that we will not ne needing banks because in bitcoin our money is fully secured and I think bitcoin never be bankrupt because there is no people who manage and handled it.

Mideafan

newbie

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The strong development of the crypto market makes future transactions without banks. You do not have to spend time and effort to go to the bank for traditional transactions, just the internet and the phone you can trade anywhere you want. Technology 4.0 will help you do that.

leexhin

sr. member

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I think even if the crypto blooms we would still use the bank.
We would still use Fiat because we couldn't really trust the internet .

jtrapirap

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I guess banks will still exist in the future but somehow fiat usage will be surpassed by cryptocurrency usage. Someday when some issues on crypto will be fixed such as the scalability issue and high TX fees, the majority will realize then how useful this technology is. Considering its positive benefits as being decentralized, fast and somehow secure. Awareness and basic knowledge on how to secure your asset here in crypto are prerequisites to startup this field.

Ruffian1314

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For me its not yet decided because we all know that there's a lot of things that will be needed to do before that happens. Maybe it is just he's prediction that Bitcoin will be the future money and replaced the fiat money. There's a possibility that it will happen in the future due to Bitcoin potential in financial world.

Shimmiry

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Quote from: lebron on August 27, 2018, 01:47:50 PM

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.

We cannot really say that it will happen in an instant. But the thing here is, bitcoin or cryptocurrency continusly sread, and with this more and more people are using it therefore the bitcoin will be used worldwide and this will result to that kind of scenario. Bitcoin is the future for sure.

Piggymonster

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It is because bitcoin is decentralized and use peer-to-peer technology to operate without any government, banks or any financial institution most people say that it will kill off banks. But I think, banks will one day adapt bitcoin because they also play an important role to stabilize our financial system. Central banks and the government will work together for the betterment for the country and its people.

bitfocus

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Yes, but that "Soon" is actually a few decades.

kdiag

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banks always remain in their places, it is more likely that banks themselves will use their own cryptocurrency for settlements.

SistaFista

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Hexhash.xyz

Quote from: lebron on August 27, 2018, 01:47:50 PM

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.

Why ? Peoples still need the bank for saving their money, get loan from bank, etc. I think what you mean is we won't need any more fiat currency.
If the world going for crypto, there will be banks in cryptocurrency to store crypto, get crypto loan, and other things in cryptocurrency.

jupppo

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TH word 'soon' is optional. I think that he meaned some years. But it's impossible, our governments will probaply ban crypto at all rather will give chance to kill banks.

jpnl0005

jr. member

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Would be very happy about this but am not sure this is happening anytime soon most countries have not heard about crypto some countries are still fighting it and others are working with it this to me would really really take a whole lot of time to happen

Huntler1993

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Seriously

, well i don't think so. What believe in is when crypto is embraced by all the services rendered by the banks and other financial services will also change to suite that of the people.

Hira1995

copper member

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Yes, I believe that one day we will not need any bank. Because now most of the financial transactions are in digital mode.

hohaitiepd

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Quote from: lebron on August 27, 2018, 01:47:50 PM

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.

We won't need a bank until crypto currency can deal with high fee transaction , low TPS, security issue, there is no reason for human to use bank when they have more convenient way

davit putra

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I think you are wrong if you don't need a bank, the bank will still exist and you will still need a bank. Although crypto is increasingly popular in the future, it will not be able to eliminate banks.

Yurkov

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Pepemo.vip

Quote from: Volkan_Tom on September 30, 2018, 01:12:54 PM

I think that banks will continue to exist in the form of interactive applications. Now in order to use the services of the bank will not need to go to a real place. Everything will exist on the Internet.

For me banks will need to exist cause not everyone know and is able to use internet, there are lots of older people who will always take banks and this place to store their money rather than internet.

Crypto one

jr. member

Activity: 221

Merit: 5

Banks are not going anywhere, anytime soon. Banks will still be needed in the future. People will need a middle man, to hold there money and to loan money from. Banks will still be there in 10 years or in 100 years.
You local bank must likely close all its branches in the years to come, first they will keep there ATM, but over time they will fait away also, to a future where everything are cashless.

Volkan_Tom

member

Activity: 490

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I think that banks will continue to exist in the form of interactive applications. Now in order to use the services of the bank will not need to go to a real place. Everything will exist on the Internet.

edsnowangel

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Quote from: joebrook on September 29, 2018, 11:22:01 AM

Quote from: hirngespenst on September 29, 2018, 11:00:14 AM

I think we always need banks! Because Banks and Cryptocurrencies are not same in work and purpose! We work on the crypto platform, earn money from it and we save our cash on banks! So, we need both. Every country supports the banking sector but some big countries denied to accept cryptocurrency!

We are always going to need banks because there is going to be a central bank in every country in the world. Even we we all start using digital currencies in the world, there will still be need for banks in the world.

definitely agree with you sir/mam the use of bank i think mainly to connect the country because every country has a central bank where they can manage the country portfolio.

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