Topic: What would happen to banks? - page 24. (Read 13986 times)
yes, I think the bank will never be extinct. but maybe they will learn about the world of cryptocurrency and will probably utilize or adopt cryptocurrency. so banks will grow. but if the bank does not do that. maybe that will happen in the future. the bank will be left behind. especially as the advances in technology and almost everyone uses and utilizes technology. banks must still be needed by people. so is the fiat currency, it will never be extinct. but maybe in the days to come, maybe people who use the bank will be more reduced.
Maybe banks become weak and they also involve with crypto currency. They offer people can use their banks to save bitcoins. Who's know they make their own wallets and gives an offer to their peoples. But it
Can change the use of fiat also it can affect the economy too
Can change the use of fiat also it can affect the economy too
The bank will no doubt act in order not to quickly wear out in the future, hear so much that banks count so many cryptocurrencies as the most dangerous and unfit for investment or as a means of payment, I think it is a self-defense to convince everyone not to over-react against cryptocurrency, for me it's cunning and gaining authority in every country, banks will always be there because they are so important.
I think that is true, well I think bank as well as the government doesnt show much attention for the community since they see this as a competition between decentralized and centralized system and of course mass people will definitely choose decentralized which is the power is equally distributed to everyone, amd they see it as a threat there would a time that allegedly they manipulate the information that thr media will share to everyone.
I think the banks would remain as long as a currency of money that we know will exist, so in order to become a real threat to a bank system bitcoin needs to become a currency before.
it seems to me that there will be a very long and protracted process of transition of ordinary banks to the crypto-currency segment. I am inclined to believe that only a small part of banks will accept bitcoins and other well-known altcoins. Because for many banks it will be a great important decision in the development of crypto economy. I have met such ICO companies, which are presented in the form of Crypto banks of the modern century. It's a great future.
In my country there is an appearance that banks don't give a damn about cryptocurrency not considering it as a serious threat to their business, so possibly they will fall suddenly, without any anticipating.
I'm pretty sure banks will also join the crypto currency world if fiat become obsolete (which i doubt will). They will do the same thing they do in banking like loans, savings, investments and exchanges. Maybe they'll also have their own coin and or wallet that is highly theirs. I don't doubt that even now, banks have stakes in Crypto currency.
Eventually, when the time comes where the Cryptocurrenciea have become more popular and more widely used globally, then banks have no choice but to cope up with what the market demands or else they have to shut down. In a digital age, I am sure that there is a possibility that fiat money will somehow become obsolete.I'm pretty sure banks will also join the crypto currency world if fiat become obsolete (which i doubt will). They will do the same thing they do in banking like loans, savings, investments and exchanges. Maybe they'll also have their own coin and or wallet that is highly theirs. I don't doubt that even now, banks have stakes in Crypto currency.
Eventually, when the time comes where the Cryptocurrenciea have become more popular and more widely used globally, then banks have no choice but to cope up with what the market demands or else they have to shut down. In a digital age, I am sure that there is a possibility that fiat money will somehow become obsolete. 
I'm pretty sure banks will also join the crypto currency world if fiat become obsolete (which i doubt will). They will do the same thing they do in banking like loans, savings, investments and exchanges. Maybe they'll also have their own coin and or wallet that is highly theirs. I don't doubt that even now, banks have stakes in Crypto currency.
How come your example can be applied to banking industry.
Banking industry is so vast that even if crypto will be the new thing , still they will remained. But prior to that, it will be very difficult to erase banking system even for decades. Honestly most crypto users here have a definition what is bank just because of interest vs holding cryptos. It's not like that.
Banks are not designed just for saving the money scheme. It has many purposes and advantages. Im a crypto enthusiast but not to the point that I will erase what are facts and closest thing to happened.
Banking industry is so vast that even if crypto will be the new thing , still they will remained. But prior to that, it will be very difficult to erase banking system even for decades. Honestly most crypto users here have a definition what is bank just because of interest vs holding cryptos. It's not like that.
Banks are not designed just for saving the money scheme. It has many purposes and advantages. Im a crypto enthusiast but not to the point that I will erase what are facts and closest thing to happened.
Banks "die" every year over the world. Of course, they don't die off, they are being bought by other banks, their products are changed and re-branded and so on. I don't know why this is hard to understand.
Of course, the whole banking system will most probably don't die off. Despite of many bitcoiners' opinion, I too believe the banks are useful. And most of them can evolve.
Nothing will ever happen to banks. Many of the banks especially those rural banks have survived due to the loans that their customers have made. When doing loans for whatever purpose would too risky for an individual if made through cryptocurrency because of the volatility of the digital coins. What if a person stores his money as a digital currency and then all of a sudden in just minutes everything goes dropping say about a half? How do you think will it benefit the user or holder? So I guess cryptocurrency is more effecient as a payment system and not as a bank not unless some adjustments to the system will be imposed like no dropping of values or bought as is and can be sold higher, but i think this is really impossible. So for now I don't think banks will be closed or whatever something bad could happen.
I think that those banks that are determined against the crypto currency will soon lose their relevance and will no longer be necessary. In order for banks to maintain their institutional appearance, they need to keep up with innovations, considering crypto currency as an opportunity, not a threat. Banks should bet on this new asset class and strive to react as flexibly as possible to market demands.
Many banks are still confused in dealing with digital money, mainly because they do not fully understand the currency. One thing is for sure, the weaker, the insecure, and the arbitrary managers are always opposed to digital money because they consider it an effective tool for people to regain their equality. Democracies with the good government have no reason to stop the digital money, but rather benefit from this kind of money, including additional economic growth stemming from reform. banking services and additional taxes levied by the digital money.
yes any changes inevitably have an impact including banks, when taken over by crypto because of better systems such as decentralization and no duplication of money.
nothing will be the effect of bitcoin on conventional bank because bitcoin or bank have different system, I assume with the presence of btcoin bank will adopt system owned by bitcoin
bitcoins can not have their own bank, it is very risky for them and their users.
conventional banks are able to implement a blockchain system in their database, but research that runs is not very perfect and still in testing phase, in the end the banks will still not be excluded if bitcoin picks up instead of world finance, they will quickly adapt to using the crypto currency system with or without government approval.
yes any changes inevitably have an impact including banks, when taken over by crypto because of better systems such as decentralization and no duplication of money.
nothing will be the effect of bitcoin on conventional bank because bitcoin or bank have different system, I assume with the presence of btcoin bank will adopt system owned by bitcoin
The World Bank is another financial institution that is in the process of exploring the advantages that blockchain technology can bring to their specific needs.
The World Bank is considering blockchain as a potential means to build and restore confidence in financial institutions. This belief has declined sharply throughout the world in recent years.
The world's largest multilateral development bank is launching a 'blockchain lab' in an effort to pilot projects that could improve governance and social issues in developing countries.
The World Bank is considering blockchain as a potential means to build and restore confidence in financial institutions. This belief has declined sharply throughout the world in recent years.
The world's largest multilateral development bank is launching a 'blockchain lab' in an effort to pilot projects that could improve governance and social issues in developing countries.
I think those 4 kind you mention is already having in crypto. So i think there no future in bank. But we cant say this time because we dont know the future.
If bitcoin is widely accepted and traded, the bank will lessen the burden on lending and they will not have a monopoly on lending they should accept for bitcoin operations and they should open up. for bitcoin development
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...
Same happened with mp3 and music industry...
The introduction of bitcoin also offers new services to offer by the banks. There are services of banks that could I found usable even in the introduction of cryptocurrency such as loans. Banks could use blockchain to improve their services without getting engage in yhe industry. In conclusion, banks will survive and definitely will evolve and Im excited about this.
If you want to survive you need to adapt in every changes that may occur. The banks that we have right now cant be easily be took down because of bitcoin. They will surely evolve and innovate their system in the process.
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