What would happen to banks? - page 12.

yvesp110

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Quote from: bitcon on January 13, 2019, 06:43:31 AM

Quote from: Snaic on December 28, 2018, 02:15:18 PM

Quote from: 0xBitcoins on October 18, 2018, 02:32:45 AM

Quote from: TheWalkingCoin on October 14, 2018, 11:30:36 PM

When bitcoin become good investment for investor who have much money, I think bank is have more important way to get and make deposit with bitcoin investment. We have and need bank for getting our withdrawal and deposit money to bitcoin account.

I think bank will always be there just there way of trading will change. In the future banks will have to accept and trade in cryptocurrency; otherwise they will have to shut their door forever. Cryptocurrency is mandatory for their survival and they would never let their business crash. Banks play a vital role in our society and provide financial services to its customers.

Banks would continue to exist even if they refused to accept blockchain technology and use cryptocurrency. Banks, and first of all state banks, are part of the state and carry out various specific functions in servicing the state and its economy. Therefore, the state will always protect the existence of banks with all available means.
However, the banks themselves will use and already apply the blockchain technology, and above all this can be seen in the example of the ripple coin, and will also, at a minimum, provide fiat cryptocurrency exchange services.

The banks will live even when the cryptocurrencies popularity becomes greater. People will always need their services, and they will never refuse to use the traditional money, even if they accept the crypto.

You are right to some extent that traditional money is being use in some areas but most of population is after with using crypto and money is safe in this way banks are now an old way to store money. They are going to be vanish in for Sure people wants modernized and easy life. Money remain save, it grows and any where easily useable that’s why I prefer bitcoin than banks.

Tukang Becak

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Banks are companies that will last for a long time, even when the use of bitcoin is greater than fiat, banks will accept bitcoin so that it always lasts, especially most banks are guaranteed by the government.

iMark

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Quote from: Duzter on December 28, 2018, 03:51:55 PM

Banks will always serve as the primary transaction support system, though cryptocurrencies were highly advanced compared to the banking people find it difficult to use. In this way bitcoin along with other cryptocurrencies will serve as the secondary or alternate solution for transaction and other financial services.

Thats what I think, cryptocurrency will continue to grow and spread. but banks have a very vital role in the economy and the financial running of a country, not only a place to save money or financial transactions, banks will continue to survive as the main, while crypto is the secondary or option

bitcon

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Quote from: Snaic on December 28, 2018, 02:15:18 PM

Quote from: 0xBitcoins on October 18, 2018, 02:32:45 AM

Quote from: TheWalkingCoin on October 14, 2018, 11:30:36 PM

When bitcoin become good investment for investor who have much money, I think bank is have more important way to get and make deposit with bitcoin investment. We have and need bank for getting our withdrawal and deposit money to bitcoin account.

I think bank will always be there just there way of trading will change. In the future banks will have to accept and trade in cryptocurrency; otherwise they will have to shut their door forever. Cryptocurrency is mandatory for their survival and they would never let their business crash. Banks play a vital role in our society and provide financial services to its customers.

Banks would continue to exist even if they refused to accept blockchain technology and use cryptocurrency. Banks, and first of all state banks, are part of the state and carry out various specific functions in servicing the state and its economy. Therefore, the state will always protect the existence of banks with all available means.
However, the banks themselves will use and already apply the blockchain technology, and above all this can be seen in the example of the ripple coin, and will also, at a minimum, provide fiat cryptocurrency exchange services.

The banks will live even when the cryptocurrencies popularity becomes greater. People will always need their services, and they will never refuse to use the traditional money, even if they accept the crypto.

SnapDown22

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Quote from: NeuroticFish on July 19, 2018, 02:51:31 AM

In every business it's the same. When new technology comes up the existing businesses will evolve or die. And obviously new businesses will also rise strong.
Same happened with mp3 and music industry...

very true what you convey the development of technology and the development of the era will make it going to be better in the future and of course it will change to become better and more modern of course following the development of the era

Best Dreams

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Quote from: gurang on January 09, 2019, 09:44:04 AM

Quote from: Scripture on July 19, 2018, 02:05:00 AM

Many says that banks would become obsolete if cryptocurrency would take over the world in the future, but i guess not. Here are some of my assumptions on what would be the situation of banks in the future with cryptocurrency.

1. INVESTMENT
Banks will take an advantage to cryptocurrency using it as their main source of investment. They say, if you cant beat them, join them and bank owners would do everything to fit into new society of financing to find clients on the new generation and still earn from them. Instead of UITFs or mutual funds, they would go for crypto investments.

2. CURRENCY
Or perhaps i would say a dollar account. As far as i know, banks offers a local currency account and a dollar account which can be used for international transactions such as shipment or travel. On the cryptocurrency era, there would be a local currency, dollar , and cryptocurrency account which probably an electronic account. Dollar wouldnt be a big hit that time because crypto can function the same and more effecient to do.

3. LOANS
Who can say that you can only loan fiat on banks? When the time comes, bank can offer crytpocurrency loans which can be used as an investment, business or buying something on cryptocurrency market. Im sure all items can be purchased using crypto that time including cars and real estates. So getting some cryptoloan wouldnt be a problem.

4. SAVINGS
ofcourse, the most wanted of them all. Who.doesnt want any security for their treasured cryptocirrency earnings? Banks which has the main function of keeping your money secured would offer crypto savings which produces interest over time. Preventing scams and hackers that we all afraid of.

As you see, banks would rather adopt than being extinct. Its like those businesses who innovates when society changes. If cryptocurrency overpower the economy, they should go with the flow to survive

Maybe it was droped but it is not stable. so don't let it make you stress and be emotionally. it will recover soon, just focus on good side of bitcoin not to bad.

Id course There is no use to stress your self as we know that soon everything will come to the track and finally we will celebrate great profit. We should concentrate on our own goal of buying coin song listen to the scammers just hold your coin as national banks are now starting to provide loan on bitcoin behalf.

Barbut

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Quote from: Halmater on January 10, 2019, 12:23:10 PM

Banks may take the place of miners and become a controller and also a miner. Even though, some of mining companies might be sold to banks in a few years. If this happened, goverments would take measures against cryptocurrency owners and they would try to control totally all the system via legislation.

They would need to invest heavily in mining equipment, so heavily in order to have some mining power. I don`t doubt that they have money for that, but is it better for them to mine bitcoin or to try to mine some other coin, they can even make their own coin, and maybe that`s the best thing they can do. I doubt that they can overtake bitcoin mining from current miners, but its one of those things that are easier to say than to do. Controlling all cryptocurrencies is impossible, they can`t control all chains, all platforms, do you even know how big this is?

Halmater

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Banks may take the place of miners and become a controller and also a miner. Even though, some of mining companies might be sold to banks in a few years. If this happened, goverments would take measures against cryptocurrency owners and they would try to control totally all the system via legislation.

gurang

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Quote from: Scripture on July 19, 2018, 02:05:00 AM

Many says that banks would become obsolete if cryptocurrency would take over the world in the future, but i guess not. Here are some of my assumptions on what would be the situation of banks in the future with cryptocurrency.

1. INVESTMENT
Banks will take an advantage to cryptocurrency using it as their main source of investment. They say, if you cant beat them, join them and bank owners would do everything to fit into new society of financing to find clients on the new generation and still earn from them. Instead of UITFs or mutual funds, they would go for crypto investments.

2. CURRENCY
Or perhaps i would say a dollar account. As far as i know, banks offers a local currency account and a dollar account which can be used for international transactions such as shipment or travel. On the cryptocurrency era, there would be a local currency, dollar , and cryptocurrency account which probably an electronic account. Dollar wouldnt be a big hit that time because crypto can function the same and more effecient to do.

3. LOANS
Who can say that you can only loan fiat on banks? When the time comes, bank can offer crytpocurrency loans which can be used as an investment, business or buying something on cryptocurrency market. Im sure all items can be purchased using crypto that time including cars and real estates. So getting some cryptoloan wouldnt be a problem.

4. SAVINGS
ofcourse, the most wanted of them all. Who.doesnt want any security for their treasured cryptocirrency earnings? Banks which has the main function of keeping your money secured would offer crypto savings which produces interest over time. Preventing scams and hackers that we all afraid of.

As you see, banks would rather adopt than being extinct. Its like those businesses who innovates when society changes. If cryptocurrency overpower the economy, they should go with the flow to survive

Maybe it was droped but it is not stable. so don't let it make you stress and be emotionally. it will recover soon, just focus on good side of bitcoin not to bad.

randyg29

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Yes of course They will surely have an adoption in any currency that would make their way to get in touch with Cryptocurrency and I think it will be easy to them to make an adjustment of their system. And as I know they have a lot of users that will surely use their services for their easy way of storing their investments if they have their invested currency.

chairmanMao

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Due to the birth of cryptocurrency, banks will undergo tremendous changes. Many industries in the future will be subverted, the banking industry will become more convenient, and the insurance industry may be free. All of this is possible in the future, and the world economy has entered a new beginning. Death represents a beginning, and perhaps the financial crisis will soon erupt.

mariah.sadio

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I agree with your thought. Banks have many different and unique ways to adapt a currency. If ever cryptocurrency replaces fiat currency, banks will only just make cryptocurrency be used as their primary money that will be debitted and creditted to the account of their clients. It can also be used as investment.

Duzter

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Banks will always serve as the primary transaction support system, though cryptocurrencies were highly advanced compared to the banking people find it difficult to use. In this way bitcoin along with other cryptocurrencies will serve as the secondary or alternate solution for transaction and other financial services.

Snaic

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Quote from: 0xBitcoins on October 18, 2018, 02:32:45 AM

Quote from: TheWalkingCoin on October 14, 2018, 11:30:36 PM

When bitcoin become good investment for investor who have much money, I think bank is have more important way to get and make deposit with bitcoin investment. We have and need bank for getting our withdrawal and deposit money to bitcoin account.

I think bank will always be there just there way of trading will change. In the future banks will have to accept and trade in cryptocurrency; otherwise they will have to shut their door forever. Cryptocurrency is mandatory for their survival and they would never let their business crash. Banks play a vital role in our society and provide financial services to its customers.

Banks would continue to exist even if they refused to accept blockchain technology and use cryptocurrency. Banks, and first of all state banks, are part of the state and carry out various specific functions in servicing the state and its economy. Therefore, the state will always protect the existence of banks with all available means.
However, the banks themselves will use and already apply the blockchain technology, and above all this can be seen in the example of the ripple coin, and will also, at a minimum, provide fiat cryptocurrency exchange services.

Rooster101

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Banks can easily upgrade their system and services to meet the challenges of modernization brought by the blockchain technology and the cryptocurrency. Many banks especially in the wealthy countries are already using cashless transactions and might even issue their own virtual currenyin the future. With these capabilities, banks will always be there even the cryptocurrencies are getting popular in the coming years.

pragna

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Actually nothing will happen when cryptocurrency will vast. There are changes in very sector in every time as well as modernization also. So cryptocurrency may be modern technology of trade, investment, transaction and so on. When new technology will come banks will adopt with it and make policy for crypto currency. So nothing to worry here.

Thanks.

bohr

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Quote from: mdgabrielzim on December 14, 2018, 04:27:30 PM

Banks will never cease to exist but if crypto gain strength banks will lose their market power and their functions will be greatly reduced.

It is interesting but banks are already losing power, not to cryptocurrencies but to other business that are offering services similar to them, in my country almost every big store now offers credit to their clients and the payments go directly to them and they are not using any bank at all for those services while in the past you needed to be a bank to provide any kind of credit.

mdgabrielzim

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Banks will never cease to exist but if crypto gain strength banks will lose their market power and their functions will be greatly reduced.

sgenuine

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Quote from: Seeker#9 on December 13, 2018, 05:04:44 AM

The banks will continue to exist even cryptocurrencies are get their full adoption. They will never become obsolete and they will likely to evolve to a modern banking system to be at par with the cryptocurrencies. The blockchain technology is not only limited to some industries and services, it can also be use by banking sectors to modernize their systems. They can also create their own cryptocurrency or token so the people can have a wide choice in what kind of cryptocurrency they will going to use.

Yes, the banks will live and work, and they will do it even better than before. Most of these institutions will use the blockchain technologies, and I can admit that some banks will work with Bitcoin.

niublity

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Banks will not be outdated. The success of cryptocurrencies does not lead to the demise of traditional currencies. The cryptocurrency should coexist with the traditional currency. The appearance of cryptocurrencies does not affect the bank. Please don't underestimate the bank!

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