Soon we would not need banks - page 22.

gooddly

newbie

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Quote from: jakoylantern on September 15, 2018, 12:22:33 PM

For me, it will not happen especially if Bitcoin and other cryptocurrencies are not accepted or allowed in numerous place or country because the number of population of cryptocurrencies users is still meager if you compared it to those people that are using banks. Also, the bank methods are different than cryptocurrency, we all know that cryptocurrencies are decentralized. But maybe in the future if cryptocurrency became legal and accepted by many states, I think it will give cryptocurrency a little chance.

I think when the crypto-currency will become legal and accepted by many states, and then the banks will not disappear. They have too many functions, and over time, with the development of the crypto currency, banks will invent even more functions for themselves.

jakoylantern

full member

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For me, it will not happen especially if Bitcoin and other cryptocurrencies are not accepted or allowed in numerous place or country because the number of population of cryptocurrencies users is still meager if you compared it to those people that are using banks. Also, the bank methods are different than cryptocurrency, we all know that cryptocurrencies are decentralized. But maybe in the future if cryptocurrency became legal and accepted by many states, I think it will give cryptocurrency a little chance.

Satish147

full member

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Harmony for One and All

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.

Yes ofcourse that is the aim of cryptocurrencies. We can eliminate the need of centralized authorities like banking system and Government involvement in money supply. These centralised entities are should be there only for controlling and not for creating artificial and unnecessary inflation due to their immatured decision making.

Dudeperfect

hero member

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I believe that crypto will definitely grow over the period of time but I don't think that it will anytime when is the traditional fiat system like banks. We don't have a high level of literacy across the world, especially when it comes to the technology and hence everyone won't be able to use crypto and the traditional option is the only way for the rest of the people to use.

noorammak

member

Activity: 490

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Bank can not disappear, we still need banks to transfer money to invest or withdraw. I think we are the technology developer in reducing transaction time or money transfer but still rely on banks.

cutecute

full member

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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.

I think many people will not let that happen even cryptocurrency is important. Actually even many people wanted bitcoin to be legal they do not want our bank disappear.

Ahsan Aly

member

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Merit: 10

This could be a rumour. That is very hard proceedings and i am sure that this can't happen.

Crypto one

jr. member

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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.

The banks as middle man will still be here in 10 or 20 years, they ain't going anywhere. People who claims something else are lying.
When you look at the crypto prices, you see see the prizes in dollars, dollar you can send to your bank account.
I don't like banks, but the world still needs banks to be middle man when you trade or store your wealth.
Crypto are to volatile to take over the bank world in the near future.
However crypto cut be a new product in the banks, bitcoins with its limited supply cut easy be something we cut store in banks in the future

SilverCup08

newbie

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It is possible to happen but not so soon. IMO it will probably take a few decades more where the whole world will be accepting cryptocurrencies and eventually may be the only currency existing. If that happens, then banks won't be needed anymore.

JMD07

member

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Merit: 10

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.

I think the word soon will be in 10 years or 20 years from now as not all countries are supporting this technology and don't take it seriously as those CEO will just speculate to attract more investors and make their project good in eyes of those who hear or read their message. This is all about business.

insurgent

member

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Look ARROUND!

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.

This is possible to happen, but banks are around the world. We have different opinion regarding this one. I know that some of us will say that they agree with this. Maybe its possible but it will take a long time.

Btcvilla

sr. member

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Quote from: snipie on August 27, 2018, 01:54:57 PM

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.

Source? Who is the "CEO" of bitcoin cash? Roger Ver maybe? If yes lock the topic and pass, no need for further discussion Lips sealed

I agree with you. This is more about jokes that we often hear from beginners without doing research and displaying links as strong evidence.

Ayush rana

full member

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I think without bank economy can't run for long term because most of the business runs on Loans and for loan they need centralised system or we can say banks .
People need trusted partner for storing their money.

maldini

sr. member

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Merit: 308

I am not sure of this statement, because the bank is still the main axis in financial matters. The bank has an important role until now, even though the technology is not like crypto, the bank will stay alive and will not be able to be replaced with crypto

annango

member

Activity: 361

Merit: 17

Quote from: Gontxi on August 28, 2018, 03:28:40 AM

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.

this is just a joke, if that's true what the world will be like. can't you see the reality that happened?
that we will always need banking even though crypto is a more promising business. interesting fact, that each country has fiat currency and is protected by law. so, I think that is nonsense

Probably it’s such a joke with the current situation of the whole economic development, but it’s possible in the future. People are much prone to convenience, fast and the likes. Especially the advanced technology is going to be more developed, it would be a fundamental reason that may lead people to using online wallet for payment. Crypto will be paved the way for becoming more developed so people will keep an eye on crypto. However, it will take a great period of time because most people in various parts of the world now is just sending money to the bank and majority of people are farmiliar with bank.

Firefox07

full member

Activity: 532

Merit: 100

Banks are well establish businesses around the world. And i think it would not be needed anymore. There are so many people around the world that put their money into banks. And many of them don't believe in bitcoin. So it would not happen.

Olayinka225

jr. member

Activity: 322

Merit: 1

I don't think this is happening or even happening soon. Because I still believe that this world still need bank intervention though cryptocurrency might take over but still yet we'll still need the BANKS. There are somethings that the banks are offering like the World bank that crypto can't offer.

classictee

jr. member

Activity: 238

Merit: 1

https://eloncity.io/

There is no way we will not need bank, bank has lots of purposes to serve as far as crypto is concern. When we need cash, we either go to bank or automated teller machine to withdraw. If not we will not be able to make payment at the local market

cmaxwell

newbie

Activity: 195

Merit: 0

everyone is entitled to his or her own opinion. yes bitcoin is getting to a level of being accept globally/ but it cant take the place of financial banking as of today. we are all optimistic that BTC will be accepted globally and it will break even but not to the level of it replacing financial Banking.

KotBas

jr. member

Activity: 280

Merit: 3

I very much doubt that there will not be banks. This is not beneficial for the government and for people. I think it will be terrible.

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