Topic: what will happen to banks? - page 7. (Read 6556 times)
Nothing will happen to the banks. Fiat rules the world and powerful people control everything with money. Controlled by the banks in ways that the average person cannot imagine.
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.
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 are directly attached to the current world global economy we'r far away from taking em out of the business.
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.
In my opinion, although banks will be negatively impacted as you have said, I think banks can avoid that continuous event to happen if they will do some sort of changes in their services just like an adaptation or providing of bitcoin exchanges to get in line with the demands of their consumers of using bitcoin as a term of currency. If they will do such thing, I think the negative impact will be lessen and somehow regain what they have loss due to the continuous demand of bitcoin rather than real money. 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 still charge for maintenance fee, monthly ATM card fee, SMS fee, and so on. more charges will be created to cover their expenses.
Banks will start using technology similar to that we have with our bitcoin. It is all about the advancement and the necessity, because the population keeps on increasing. After certain point it is really a tedious thing to function with the traditional processes. To fulfill the place bitcoin gets used.
If botcoin really replace paper money, bank will be useless, we don't to use bank anymore if its happen. Government wil always protect their national currency so probably it wil not happen.
It seems to be difficult to replace the banks, if the use of bitcoin is massive and beat fiat then banks will accept bitcoin as a type of savings or commodities such as mutual funds.
I believe about 99% or 98% of the people in the world doesn’t make use of Bitcoin. If Bitcoin has 10 million users, I believe 9.8 million out of the 10 million are using banks and are just here to make profits. Only a fool will withdraw all he has and invest them all into Bitcoin.
I agree with your point of view. How bitcoin can decrease number of banks clients if to buy BTC you need money. How to transfer money on exchange platforms without current banks and payment systems? It is impossible.
Also, you are right. I read info about number of bitcoin users and less than 1 percent people use bitcoin or crypto.
Bitcoin should pass complex and long path for popularization before we can tell aboyt "bitcoin against banks and government".
i think the bank is note affected because of blockchain network because right now bank and blockchain have a different method to use it, the bank usually distributed the paper money into public and blockhain not. so bank have their own ways and bitcoin have their own ways too
Nothing bad happens to the bank because until whenever the bank will still be required to conduct transactions directly such as to make deposits and withdrawals of funds. or the bank can work with a commodity exchange company to gain more profit through the cooperation.
If botcoin really replace paper money, bank will be useless, we don't to use bank anymore if its happen. Government wil always protect their national currency so probably it wil not happen.
It seems to be difficult to replace the banks, if the use of bitcoin is massive and beat fiat then banks will accept bitcoin as a type of savings or commodities such as mutual funds.
I believe about 99% or 98% of the people in the world doesn’t make use of Bitcoin. If Bitcoin has 10 million users, I believe 9.8 million out of the 10 million are using banks and are just here to make profits. Only a fool will withdraw all he has and invest them all into Bitcoin.
I think you have a bright idea there but you know, banks and cryptocurrencies can be both successful at the same time. What I am trying to say is banks can make money out of cryptocurrencies if they accept the latter as a form of deposit. Also, banks can charge cryptocurrencies with bank fees if it is being transacted through them. Only that banks would have to watch out for the development of blockchain because once that happens, they can no longer make money in the form of bank fees. People will thereby have the power to make transactions on their own without having to pass through banks. Of course, banks would have to wait on their respective governments to decide on the acceptability of these cryptocurrencies before they utilize the same as a money-making tool.
Time will come that banks will eventually accepts bitcoins or cryptocurrencies to their daily transactions, especially when one county already make cryptocurrency legal and added to their market just like America is doing right now which I think has a big impact in the price of bitcoin right now.
I think you have a bright idea there but you know, banks and cryptocurrencies can be both successful at the same time. What I am trying to say is banks can make money out of cryptocurrencies if they accept the latter as a form of deposit. Also, banks can charge cryptocurrencies with bank fees if it is being transacted through them. Only that banks would have to watch out for the development of blockchain because once that happens, they can no longer make money in the form of bank fees. People will thereby have the power to make transactions on their own without having to pass through banks. Of course, banks would have to wait on their respective governments to decide on the acceptability of these cryptocurrencies before they utilize the same as a money-making tool.
cryptocurrency stil not as big as we think for now
so bank still get no trouble from it
but if one day come when crypto use bigger than fiat, much bank will collapse
just strong and very healthy finance bank will survive
but i think it will be along time to go because government protect them at all cost for now
in the future i hope crypto and fiat can live side by side
it would be difficult to accept crypto as legal currencies in country. only possibilities it could be as an alternative payment method, same as creditcard, mobile payment, etc. Position Bank will not having trouble with any circumstance, because crypto still need many improvement.so bank still get no trouble from it
but if one day come when crypto use bigger than fiat, much bank will collapse
just strong and very healthy finance bank will survive
but i think it will be along time to go because government protect them at all cost for now
in the future i hope crypto and fiat can live side by side
Actually the crypto currencies aren't really affecting the banking systems and banks around the world, because still the majority of people worldwide use their services and also deal with fiat currencies. Banks also are supported by governments a lot more than crypto currencies.
maybe what the government is worried about is that bitcoin activity is too much, and every society prefers to transaction with bitcoin, the paper money will be abandoned and the banking activities become lonely.
Actually the crypto currencies aren't really affecting the banking systems and banks around the world, because still the majority of people worldwide use their services and also deal with fiat currencies. Banks also are supported by governments a lot more than crypto currencies.
maybe what the government is worried about is that bitcoin activity is too much, and every society prefers to transaction with bitcoin, the paper money will be abandoned and the banking activities become lonely.
I don't think that the banks will be highly affected by the cryptocurrencies community since it is a relatively small portion when compared to how much money , trafic and users the traditional banking system has . Banks are already stuffed with money and gold and this whole cryptocurrency thing is just few scraps that won't ham their business significantly .
Banks will not disappear from the financial world. People will take loans in them, trust their money and material values for safekeeping. Bitcoin will not destroy banks, as not all people will use cryptocurrency.
Bankers were controlling everything in this time. Even the majority of countries have a lot of the debt with the banker that makes the government was following what will be saying by the banker itself. Bank will never bankrupt because it still used by so many people.
Banks will not disappear from the financial world. People will take loans in them, trust their money and material values for safekeeping. Bitcoin will not destroy banks, as not all people will use cryptocurrency.
Banks are conservative institutions. From their point of view, they will get very little from working with Bitcoin businesses, while they may lose a lot. Even the largest bitcoins of the company will bring only a few hundred thousand dollars in revenue to the bank, which is a pittance for him.
banks should not use the tax because we simply stop using them
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.
They say that bitcoin is a threat to many financial institutions like banks. I believe that banks will never disappear even bitcoin is threat. People will not agree if the banks will disappear because of the bitcoin. 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.
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