what will happen to banks? - page 8.

AVAMONEY

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Quote from: ElvenRaider on December 16, 2017, 09:56:59 AM

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. We have to understand that government policy is to protect the assets of its citizens, but not many choices they offer is also a problem in freedom of economy investing.

SHAWN-MIDWAYS

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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?

The blockchain does kill certain services that banks offer and as far as I know we still need banks for services like loans based on physical collateral, availability of a credit rating and also help a way to cash out to fiat and the only way they will compete with other cryptocurrencies is to adopt the blockchain technology and maybe consider issuing their own cryptocurrencies.

dzhan

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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.

hisuka

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Bank will still intact and still as is and existing. Banks differ from bitcoin it is another form of money that people will still into use of banks because this has many to offer also. Maybe we can say banks stepping into blockchain world or being adoptive because of the price value.

StayFly

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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 most find the way to fit in with the blockchain technology. Many banks started developing their blockchain based dapp already for the future.

ElvenRaider

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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

cheann20

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Activity: 344

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.

In my own opinion, I think bank will be there even if there will be a global acceptance of bitcoin, it's the same as Fiat money will stay whether bitcoin dominates the world of currency. Banks will be still there since it is regulated and controlled by government,and as long as Government is existing, Banks will also continue on functioning and growing. And I also think that every bank that has joined cryptocurrency it's time they think of investment services in the form of coin and think about how the bank gets the profit, so the minimum activity of the bank can survive.

wdnj

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Quote from: Howie1400 on November 29, 2017, 12:41:39 AM

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.

the presence of cryptocurrency does have an influence in all areas, especially the world of banking and finance. many of the negative effects that affect the banking world, ranging from reduced investment in the banking world, reduced exchange rates between countries and currency market movements that move rather slowly than before. for every bank that has joined cryptocurrency it's time they think of investment services in the form of coin and think about how the bank gets the profit, so the minimum activity of the bank can survive.

It is too early to say about how much crypto currency is going to effect the banks, but yes, banking transactions will be effected in the time to come. Now all we have to see is what all policies banking industry is going to introduce in the era of crypto currency.

It will be a challenge for them because the financial system so far was centralized and crypto currency works on the phenomenon of decentralized currency

MCVXYZ

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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,that's true but what about in another situation,If banks prohibit to create an account wich will participate in crypto-trading relations? Its not just a different form of money as you said.
What you said about banks is formal and this list is not enaugh,Because sometimes banks have another business relationships, Wich are not legally,For example I know that a lot of banks have gambling businesess,wich is an Indirect income.In my country,There are so many Banks wich have business relationships in bitcoin and i think its not bad as it seems.despite the fact,Banks are everywhere,Where there is a lot of money,But There is one good thing that they cann't Interference in bitcoin transactions More deeply,because bitcoin is a special and we don't need banks anymore.

ehab.co

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Banks are still here and will be for a while. At the moment they are easier/simpler to use than crypto (to your everyday person) and they are more trusted.
The only reason they are more trusted is that people know what they are. We of course should not trust them they have been mismanaging the economy and exploiting it since the 70s.
In terms of ease of use, cryptoptocurrency is still a bit of a faff. Coinbase is obviously pretty easy but that is a limited service and has fairly high fees.

As blockchain tech becomes more trusted and it becomes easier to use there will be a greater transition. But you need entire countries using a currency in volume to prevent crazy fluctuations in price. Banks in the physical sense may well disappear at some point. But I expect unless we change our economic system, they are around for a little while longer.

buiting

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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.

some of blockchain like bitcoin now have fee more than banks.

bank more stable and will have main playing in future

anga3636

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Quote from: Semar Mesem on November 20, 2017, 10:23:17 PM

Quote from: Ausgewielt on November 20, 2017, 10:08:53 PM

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.

Nothing will happen to bank. Some people are thinking that bitcoin will disappear bitcoin but according to me it is not possible to disappear bank because with out bank system countries are unable to do business with other countries yes I was agree with that bitcoin will reduce users of banks.

Copulative

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Quote from: Semar Mesem on November 20, 2017, 10:23:17 PM

Quote from: Ausgewielt on November 20, 2017, 10:08:53 PM

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.

Bitcoin will never be able to disappear bank because every country need bank system and without bank system no country can exist. We can accept this that bitcoin will reduce the customer of bank.

MinMan

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Quote from: Snub on December 01, 2017, 09:51:07 AM

I also don't believe that anything will happen to banks...the more - they are needed by the government...in the best case, the cryptocurrency will exist next to banks

Governments are now looking forward to adopt bitcoin and this simply tells about the fate of the banks that they will be of no use in future and one thing can save banks from exiting is to recognize bitcoin and adopts its system and here in my regions banks are recognizing bitcoin and they are well aware about the people trend around them and when people will not use cash then why a government need a bank to run,

Gameroid

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Quote from: sampalokmix on December 01, 2017, 10:58:32 AM

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.

Even though banks will be affected with the rise of the cryptocurrencies like bitcoin which is more beneficial than what they are offering, I believe that banks will stay still as what it is because it also do have lots of features and benefits that it offers which is the main reason why many people do still prefer the usage and existence of banks for their physical money. It is not intended that banks will be directly affected for it to be totally shutdown. It is just the numbers of consumers will be lessen but it will not cause for the banks to be abducted in the world.

I also think that banks will stay for a long time. Even they will start accepting bitcoin once bitcoin become legalize by governments,. May be then they will getting more profit after they start accepting bitcoin because in future we can expect that bitcoin will be uses by everyone at that time.

sampalokmix

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Investing in the future development of blockchain

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.

Even though banks will be affected with the rise of the cryptocurrencies like bitcoin which is more beneficial than what they are offering, I believe that banks will stay still as what it is because it also do have lots of features and benefits that it offers which is the main reason why many people do still prefer the usage and existence of banks for their physical money. It is not intended that banks will be directly affected for it to be totally shutdown. It is just the numbers of consumers will be lessen but it will not cause for the banks to be abducted in the world.

AjithBtc

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Vave.com - Crypto Casino

Quote from: Snub on December 01, 2017, 09:51:07 AM

I also don't believe that anything will happen to banks...the more - they are needed by the government...in the best case, the cryptocurrency will exist next to banks

I too have a thinking that bitcoin as well other cryptocurrency we use for different needs will serve as an alternative to the banking. Banks will continue to provide the service with the control in the hands of governments. Very few might make platforms to function in a unified manner.

stayeduptolate

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Quote from: AjithBtc on November 24, 2017, 10:17:49 AM

Quote from: katiecbell on November 24, 2017, 02:10:32 AM

Quote from: TitanGEL on November 14, 2017, 03:53:29 AM

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.

They say that bitcoin threaten banks but I don't think that bank will disappear in the future. Many investors are still prefer to put their money in the banks because it is not risky than put it in cryptocurrency.

Banks are going to disappear in near future because now people are shifting to bitcoin now with high speed. The bitcoin is increasing day by day, at the same peace the worth of banks is decreasing. Bitcoin is a big threat to banks just because of its value. I am pretty sure that all big investors are going to keep their big investments in the form of bitcoin just because bitcoin is easy to use.

That's not true, people are not shifting to bitcoin completely, they have banking accounts and additional to it people give consideration to bitcoin. Bitcoin has been seen as a threat by lot of banking networks, whereas few try to adopt the technology and grow through the same.

Banks have establised themselves from a very long era.Nothing can happen to banks even if cryptocurrencies enter the nations.The whole world uses fiat money or cash.When there is time to save their money,the first thing that comes in the mind of people is the banks.For them,banks are the safest place to deposit their money and earn interest.Not everyone knows how to use bitcoin or any cryptocurrency.

Snub

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I also don't believe that anything will happen to banks...the more - they are needed by the government...in the best case, the cryptocurrency will exist next to banks

trauchot

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I thinking with banks nothing will happen, how many hundreds of years banks already working and people have always trusted and will trust them, in any incomprehensible situation anyone can go to the bank and find out any information about his problem and how to solve it, but bitcoin has not yet opened his bank anywhere, so where will people go. I think that choice is obvious that what is safer at the moment.

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