Topic: What will happen to the banks if people uses cryptocurrencies more than fiat? (Read 1244 times)
April 23, 2018, 05:19:47 AM
I think bank will need to adjust if that scenario comes besides some of the banks started to adopt bitcoin because we can change our bitcoin to those bank who accept bitcoin and for sure the government will make an action to regulate the situation.
April 23, 2018, 04:26:20 AM
No one exactly knows what can happen in the future.
I am guessing that if cryptocurrencies are to be used as a regular currency for everyday living in the society overall, banks will have to adjust to it. Governments use banks to regulate and even gain profit as an additional source aside from taxes so I don't think governments will just let go banks in favor of cryptos.
I am guessing that if cryptocurrencies are to be used as a regular currency for everyday living in the society overall, banks will have to adjust to it. Governments use banks to regulate and even gain profit as an additional source aside from taxes so I don't think governments will just let go banks in favor of cryptos.
April 23, 2018, 03:26:25 AM
Nothing is going to happen to the bank as its not everybody that would partake in the trading with this crypto currency and banks do not exist to save money in alone. But if it happens, we will see the system change as well.
April 21, 2018, 11:57:32 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
You can not worry about banks. They worked and will work even when the crypto currency partially displaces fiat, and will also become the main form of financial settlements between citizens. Banks will in any case find a job and will continue to extract their profits, perhaps not so much. Banks are needed by the state and the state will always support them. Implementation of the country's budget has always been and will continue through banks. The main income of banks - the issuance of loans will also work in any situation. Crypto currency can not perform this function due to its nature and high volatility. 
April 21, 2018, 05:35:03 PM
I think, banks will just find the way how to integrate cryptocurrencies and will ask help from the government to find the way how to regulate it. That's why, I don't think, that banks will just disappear, even if cryptocurrencies will be used almost by everyone in near future. And I don't even think, that cryptocurrencies will be used almost by everyone in near future, since more and more people using them as a kind of virtual assets, than a kind of payment method.
April 21, 2018, 05:19:47 PM
I think that the banks will start using blockchain technology in such case.
April 21, 2018, 05:17:00 PM
For now, the number of people use cryptocurrency is increasing very quickly and very soon I think nobody will want to use bank anymore. But I think bank will do something to save their system like try to find out the way to legalize cryptocurrency in their country and accept it in their system. But for now, it's still not happened yet.
April 21, 2018, 05:10:41 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
There are basically two possibilities, the first one and the one that some people in the forum want is that bitcoin victory is so pronounced that banks disappear as we know them and now every single person is a bank fulfilling the vision of satoshi, however the most likely possibility is that banks are simply going to adapt to bitcoin and will keep offering their services and they will keep scamming people out of their money. April 21, 2018, 04:20:54 PM
Banks will either shut down or adopt cryptocurrency as a their official payment mode to stay in business. In both scenarios cryptocurrencies will rock and its value will be skyrocketing. The blockchain technology behind it will give it advantage over fiat to remain hack free and transparent so there is no or very less chances of fraudulent in blockchain system.
April 21, 2018, 01:13:20 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
Still banks have fear of it, I see every banker is against the crypto currency. The reason banks don't like crypto, to see this point of view, then definitely i do agree that in future banks are more against of crypto and then banks will take some step for the crypto currency, that the reason you could see in most of the country banks and governments ban the bitcoin like in India and Pakistan.
April 20, 2018, 08:32:02 AM
I think they won't let it happen that they become useless when cryptocurrencies already enter our society. Adaptation of crypto market is a long way process, with that, banks will definitely make a way to adapt to changes so that they will still stay in business as much as possible.
One thing I do know is that banks will be taking a piece of the crypto pie one way or another. They have already seen the amount of money it generates.
April 20, 2018, 08:29:26 AM
I think they won't let it happen that they become useless when cryptocurrencies already enter our society. Adaptation of crypto market is a long way process, with that, banks will definitely make a way to adapt to changes so that they will still stay in business as much as possible.
April 20, 2018, 08:08:11 AM
Maybe banks will be affected a little only because fiat will not disappear i guess and bank will stay for the people who uses banks in their transactions and banks will adjust their ways on how to deal with cryptocurrency.
People are always using Bitcoin but it is impossible that Bitcoin will be overcoming Fiat in terms of transaction since there are a lot of people who still do not know digital currencies and people are just treating Bitcoin and other digital currencies as an asset and not as a currency that is need to be used every single day to buy their needs, also, lets consider the fee transacting Bitcoin everyday.
April 20, 2018, 08:05:21 AM
Depending on what conditions, if the government still does not receive bitcoin as a legal payment method for the community then the bank will not feel threatened even though people have gone to use bitcoin versus fiat currency because the community needs is the official government crypto exchange service to get started switch using bitcoin as a payment method.
April 20, 2018, 07:52:10 AM
Maybe banks will be affected a little only because fiat will not disappear i guess and bank will stay for the people who uses banks in their transactions and banks will adjust their ways on how to deal with cryptocurrency.
April 19, 2018, 12:44:44 AM
The banks will go bankrupt because they will make enough profit for themselves to sustain their bank. Banks are just depending on the money of the people who put money to the bank so if the money in the bank goes lower and lower then they will just close their bank and the cryptocurrencies will become the main place for storing money.
April 18, 2018, 11:22:19 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
Still banks have fear of it, I see every banker is against the crypto currency. The reason banks don't like crypto, to see this point of view, then definitely i do agree that in future banks are more against of crypto and then banks will take some step for the crypto currency, that the reason you could see in most of the country banks and governments ban the bitcoin like in India and Pakistan.
April 18, 2018, 11:07:03 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
Still banks have fear of it, I see every banker is against the crypto currency. The reason banks don't like crypto, to see this point of view, then definitely i do agree that in future banks are more against of crypto and then banks will take some step for the crypto currency, that the reason you could see in most of the country banks and governments ban the bitcoin like in India and Pakistan.
April 18, 2018, 10:25:56 PM
With banks nothing will happen. They will work, as they did before, only adjust to the crypto currency and will also provide services in the crypto currency. Banks can not disappear because they are needed by the state. Through them, the country's budget is being implemented. Therefore, the state will always protect banks and establish a preferential regime for their existence.
April 18, 2018, 09:44:06 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
Banks are not going down without a fight, you need to understand that they do not have any kind of loyalty to governments, if cryptocurrencies become the most used form of exchange around the world you can be sure that they are going to adapt and they are going to begin to accept cryptocurrencies themselves, and it is even possible that they begin to create their own cryptocurrencies. Jump to: