what will happen to banks? - page 18.

Blondy12

full member

Activity: 364

Merit: 100

Quote from: cybersofts on October 04, 2017, 04:32:42 PM

Quote from: BrewMaster on October 04, 2017, 11:04:21 AM

what is a bank?

it is just a service that is offered on money. these services are so many different things. such as loans, credit cards, savings account, Checking accounts, other types of account i don't know the name of in English Tongue

, Insurance stuff, Mortgages, Safty Deposit boxes, ...

banks doesn't have to be affected by bitcoin or bockchain technology. it is just a different form of money!

Yes, banks has their ways of milking the public such as loans, mortgages, unnecessary bank charges and so on.
Bitcoin will not entirely remove banks out of the way because Governments and majority of the people are still using bank for their financial saving.

absolutely right that majority of the people as of now are still using banks for their savings but what if the time comes that bitcoins will be known to everybody? i am talking about in my country, there are lots of incident here that banks got bankrupt without us knowing what is behind that bankrupcy to think that only few of us here are using bitcoins. there is a big possibility that banks will be eliminated as soon as bitcoins will known here.

Mr. Legendaris

sr. member

Activity: 468

Merit: 250

Quote from: Patrix_1 on October 24, 2017, 01:53:25 AM

I am sure that banks won't disappear. This is just a form of financial services, just like blockchain. There will always be customers for one and for the other forms.
banks rather will provide crypto services - exchanges, for example, or credit lines, loyalty cards..so on

I think it's a good idea, banks and bitcoin work together to provide good service to users, but I think bitcoin will be hard to accept because the use of bitcoin will automatically reduce fiat money so the state will ban bitcoin.

Kakawate

full member

Activity: 378

Merit: 100

Quote from: cryptocrusher on October 04, 2017, 11:52:45 AM

I think banks are too important to the world presently and their reputation will enable them to survive even in the current climate where they are facing competition from the cryptocurrency market. The general public will remain skeptical of cryptocurrencies for some time and thus will continue to use banks.

Yes I think the banks are too important nowadays and even since the banks are made. All of us are still counting on banks which is just natural, cryptocurrency is an uprising star in the market, it could be the same as our current currency, but I can say that it could take a few more years before that to happen. So before that happened, I think people are just gonna cling to banks, and its gonna be hard to put aside.

Bitcoincole

full member

Activity: 504

Merit: 102

Quote from: calandra78 on October 24, 2017, 06:42:06 AM

I think the bank will remain and it will always be needed by society because the bank will always be under the control of the Government while the economy is not far away from the money and side by side with bitcoin. even the banks gradually would be able to start receiving or existence of bitcoin and willing to give service to provide a variety of features that appeal to users in order to facilitate all the bitcoin transactions required in bitcoin with level high security.

I think banks will never be erased in the picture because they already had their worth in the society/world. Many people and even countries depend on banks for their financial sustainability. Even ordinary citizen are relying on banks like loans and mortgages. Maybe as technology evolves banks might consider bitcoins to be part of their currencies but that will take few years from now since legalization of bitcoins will still be a long way to go.

calandra78

copper member

Activity: 840

Merit: 114

I think the bank will remain and it will always be needed by society because the bank will always be under the control of the Government while the economy is not far away from the money and side by side with bitcoin. even the banks gradually would be able to start receiving or existence of bitcoin and willing to give service to provide a variety of features that appeal to users in order to facilitate all the bitcoin transactions required in bitcoin with level high security.

Patrix_1

member

Activity: 364

Merit: 10

I am sure that banks won't disappear. This is just a form of financial services, just like blockchain. There will always be customers for one and for the other forms.
banks rather will provide crypto services - exchanges, for example, or credit lines, loyalty cards..so on

setupbounds

hero member

Activity: 910

Merit: 509

Quote from: SirLancelot on October 21, 2017, 12:46:10 AM

Quote from: mobilestrike on October 19, 2017, 06:25:51 PM

Quote from: Duogembrot on October 17, 2017, 12:38:54 PM

Quote from: sv624 on October 04, 2017, 10:49:07 AM

Since banks profit from fees and blockchain will kill fees, my guess is banks will be negatively impacted.
Some banks are already stepping into the blockchain world.
But blockchain will not bring back the profits as otherwise.
Any thoughts?
Apologies if this is not the right place to discuss.
Thanks in advance.

perhaps some banks in various countries will cooperate with bitcoin in order for the bank to be productive and conducive, otherwise it will be impossible to destroy and lose compete with digital currencies such as bitcoin.

Nothing will happen to banks they will simply upgrade their system and will start accepting bitcoin because bakers are the sharp people and they know how to synchronize themselves with the time and user trends and that will make more to banks progress and there are a lot of banks at his time they start accepting bitcoin because they know that future will be all about this.

I think the banks will also update themselves. I mean the owners of the commercials banks will also start dealing in bitcoin when there is only one digital currency usable all over the world. For the banks there will be no other option except starting trading and dealing in bitcoin.

But one thing is clear that the role of the banks will eliminate very much due to the worldwide use of bitcoin.

That is possible only if there remain only one currency in the whole world and that is bitcoin. This will be no doubt going to be very much good thing but there are comparatively less chances of this thing to happen in the near future.

There are huge number of people who are even unaware of the word bitcoin. This is a very long marathon and till that time banks will keep on doing their own job.

Dudeperfect

hero member

Activity: 1190

Merit: 534

Those who bring the change, lead.
Those who change with the change, succeed.
Those who change after the change, suffer.

These lines are perfect to describe the financial environment that is emerging on a global scale at this stage. There is a new technology named Blockchain which is bringing the change in the financial behaviour of the users on a fundamental level is leading the market (with a continuous growth) and there are some banks which are now giving a try to Blockchain technology by adopting the technologies like Ripple, XRP will succeed in their industry. Now coming back to your question, the banks who will not change their behaviour and business pattern over the time will suffer by this change down the road.

Sled

hero member

Activity: 1680

Merit: 535

Bitcoin- in bullish time

Quote from: kimpena on October 23, 2017, 09:19:11 PM

Quote from: sv624 on October 04, 2017, 10:49:07 AM

Since banks profit from fees and blockchain will kill fees, my guess is banks will be negatively impacted.
Some banks are already stepping into the blockchain world.
But blockchain will not bring back the profits as otherwise.
Any thoughts?
Apologies if this is not the right place to discuss.
Thanks in advance.

Banks will always still be banks unless they got bankrupt, theres a possibility to be closed. But banks do not offer fees, instead they offer other services beyond that. Fees are just one of they way to get income. If banks demand goes down just because people will choose to use bitcoin than fiat, then there's a possibility that banks will create banks for bitcoin or other cryptocurrencies. They will make a way to stay on the track.

If the demand in banks will go down then they will lose people that investing or putting their money in banks and i think that it will not cause them to close or go bankrupt because they for sure have a back up plan for the scenarios like that and they will launch different programs that will attract people to go back in their side and to encourage them to put their earnings in bank and not in bitcoin.

kimpena

full member

Activity: 250

Merit: 105

Quote from: sv624 on October 04, 2017, 10:49:07 AM

Since banks profit from fees and blockchain will kill fees, my guess is banks will be negatively impacted.
Some banks are already stepping into the blockchain world.
But blockchain will not bring back the profits as otherwise.
Any thoughts?
Apologies if this is not the right place to discuss.
Thanks in advance.

Banks will always still be banks unless they got bankrupt, theres a possibility to be closed. But banks do not offer fees, instead they offer other services beyond that. Fees are just one of they way to get income. If banks demand goes down just because people will choose to use bitcoin than fiat, then there's a possibility that banks will create banks for bitcoin or other cryptocurrencies. They will make a way to stay on the track.

szpalata

sr. member

Activity: 686

Merit: 253

Quote from: Capt00 on October 23, 2017, 08:01:36 PM

Quote from: CoolSkeleton on October 22, 2017, 07:16:28 AM

banks can be just country wallets, were u can get some credits or invest money. anyway, u should pay taxes

Still banks are very useful to us and still we need their services. Knowing that, not all of us are in crypto and even the governments are dependent on banks, that's why banks would still be exist forever.

I think the banks can easily be conveyed into exchanges and it's one thing I foresee most of them becoming if Bitcoin evolves further and better in the coming years.

Capt00

full member

Activity: 938

Merit: 105

Quote from: CoolSkeleton on October 22, 2017, 07:16:28 AM

banks can be just country wallets, were u can get some credits or invest money. anyway, u should pay taxes

Still banks are very useful to us and still we need their services. Knowing that, not all of us are in crypto and even the governments are dependent on banks, that's why banks would still be exist forever.

megynacuna

sr. member

Activity: 756

Merit: 253

Quote from: Hamstead on October 23, 2017, 06:25:51 PM

Quote from: Allan Ramanda on October 22, 2017, 01:09:26 AM

if bitcoin can negatively affect all banks. then certainly the government will not remain silent. and I'm sure the government will shut down Internet access on bitcoin. currently bitcoin will not work if the bank does not want to work with bitcoin.

No, bitcoin doesn't gives a huge impact the banks. Yes, we accept that bitcoin could possible lessen their clients and incoming money inside but totally it won't make banks into disappear. I know banks will make a steps towards crypto and start accepting bitcoins as a payment for their services. Is just a kind of modifications toward the incoming generation.

I agree with you, i don't think bitcoin will signal the end of banks but rather i forsee the smarter banks are going to try and integrate bitcoin into their system so that they don't become obsolete with time. There are going to be some modifications for sure along the way.

Hamstead

sr. member

Activity: 805

Merit: 250

Quote from: Allan Ramanda on October 22, 2017, 01:09:26 AM

if bitcoin can negatively affect all banks. then certainly the government will not remain silent. and I'm sure the government will shut down Internet access on bitcoin. currently bitcoin will not work if the bank does not want to work with bitcoin.

No, bitcoin doesn't gives a huge impact the banks. Yes, we accept that bitcoin could possible lessen their clients and incoming money inside but totally it won't make banks into disappear. I know banks will make a steps towards crypto and start accepting bitcoins as a payment for their services. Is just a kind of modifications toward the incoming generation.

Bacotan Bae

sr. member

Activity: 504

Merit: 252

Although the use of bitcoin is more massive, but I am sure that the bank will continue to survive, the bank gets protection from the state as a partner that supports the country's economy so it is worth to defend.

trako

hero member

Activity: 756

Merit: 505

the banks will serve for many years in the global sense. because the necessary infrastructure systems meet the needs of the current situation. cities and towns. salary fields. There is so much interaction. banks will be our lives for many years.

richkellj

hero member

Activity: 756

Merit: 500

Quote from: gabmen on October 22, 2017, 12:42:29 AM

Quote from: rockyram on October 21, 2017, 12:18:57 PM

Quote from: bitcad4u on October 21, 2017, 12:01:12 PM

Quote from: v0rtecxz on October 21, 2017, 10:38:36 AM

I do not think there will be any disadvantage from it all, the bank will only update and evolve according to the changing times, and bitcoin runs as usual, but in my opinion not everyone uses bitcoin for a small transaction, and they use it more as a place to invest or trade, and I think the bank is quickly adjusting itself to modern times by adopting blockchain technology, so as not to lag behind the latest developments and seek some information to make use of it

Happen to bitcoin are the, I think it will bring some new innovation for the banks itself. and who knows, by doing this, the banks can reach more people without having any border between the country. but it is need time for the banks to realize that crypto currency can brought new changes to them and they need to learn more about bitcoin Are happen to bitcoin.

Happen to bitcoin are but it is need time for the banks to realize that crypto currency can brought new changes to them and they need to learn more about bitcoin. but for now, I think the bank will remain like this and until there is any statement from the government about bitcoin legal or not and this will happen to bitcoin.

Banks will not adjust to bitcoin that's for sure. What would probably happen is governments will try make regulations to make bitcoin fit with the current system rather than the other way around. Though bitcoin's not going to make it easy for them

We need to understand this thing that banks are only meant for paper money. They are having no direct relation with crypto currency. There is no way that we can see a society either without banks or paper money.

Paper money is the basic need of this society and so is banks. Banks come under the control of government and there is no chance that we can experience a society without banks or anything like that.

CoolSkeleton

member

Activity: 171

Merit: 10

banks can be just country wallets, were u can get some credits or invest money. anyway, u should pay taxes

Rashid555

full member

Activity: 350

Merit: 100

Bitcoin is now popular currencies so banks are ready to accept bitcoin because many countries are allowing bitcoin for different purposes. Like in the modern time banking industries are at their peak and they feel fear for new currencies but with the passage of time and growing value of bitcoin banks are secure and they easily exchange bitcoin and able to pay in the bitcoin. Banks are also important financial cycle of country.

cizatext

member

Activity: 952

Merit: 41

Bank has nothing to do with bitcoin, bitcoin activities and banking activities are two different thing their activities doesn't interfere with each others so bitcoin should not be view ass a traits to the existence of bank.

Topic: what will happen to banks? - page 18. (Read 6566 times)