i think banks are going to loss alot of investment and other fiscal activities done with thier customers when crypto currencies takes over.and this will or may lead to reduction and decrease in their banking activities
With the passage of time bank accounts will become empty because as more and more people come to know about cryptocurrency they will withdraw their money and put in crypto for making more and more money. Banks will have to start trade in crypto for survival; otherwise they will have to close their banks. The coming era is of digital money which requires no banks. 
Topic: What would happen to banks? - page 28. (Read 13996 times)
Yes it might be true that bank can use cryptocurrencies to survive in the market. Otherwise also, it is very tough for the crypto market to replace the banks and financial institution. The main reason for this is that governments will not let this happen. With cryptocurrencies, people can evade taxes and there are many other loopholes also. Obviously government doesn’t want to lose their control on financial system.
From the bank, the same thing happens to the manufacturers of wagons for horses. They will leave the market as useless. Banks have always been a means of enriching rich people, but there were no alternatives before. Now the alternative is and the world will come to it.
Agreed, banks make rich more rich and the poor go poor. Even government stand on their side. This needs to be eliminated, and some survey has given a data stating massive loss has been faced by banks once after the existence of cryptocurrency. Fearing this cryptocurrency will be adopted by the banks. At present cryptocurrencies were serving as an alternative and the same will happen further with increased users. It won't go mainstream from my opinion. 
If the banks do not start to use Blockchain technology they will only be banks. They need to open themselves up to new times. Maybe then there will be different uses.
I`m not an economic expert, so I don't know. But probably would be needed any more cryptocurrency will take the place on the market, because banks are offering loans and deposits, especially in my country.
From the bank, the same thing happens to the manufacturers of wagons for horses. They will leave the market as useless. Banks have always been a means of enriching rich people, but there were no alternatives before. Now the alternative is and the world will come to it.
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...
something similar happened to Nokia when the smartphones with touch screen came to the market, but you can see that Nokia is trying to recover their positions. Same happened with mp3 and music industry...
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
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
With bitcoin rising i think banks will still be here to stay. Many people rely on banks. This is where we keep not only our money but our gold, silver and important documents. Although banks has lesser interest rates but this is a safe storage.
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
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
I agree with you, the bank will follow the changing trend to stay afloat. I believe they (banks) realize that the advancement of digital technology in the era of industrial revolution today is difficult dammed, let alone controlled. I think, nowadays they (the bank) have been preparing to make their institution to be a "learning organization" so that they become much smarter and better prepared than the "outlaws" in the field of virtual currency later on.
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
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
Banks will just stay still because those who did not know anything about cryptocurrency would be placing their money on banks and they can still earn profit from it.
It would be very great and helpful if banks will realize the importance of cryptocurrency and perhaps enter into crypt. They can provide their usual services to customers and also provide services in cryptocurrencies, such as investment, savings and loans, shares buying with cryto, and a lot.
if they want they just can buy all top10 coins and rule the market
It's not that easy. If we look at how splintered the market in its entirety is, one entity or a group of entities will need to extremely overpay for their coins in order to own even a semi large chunk of coins in the end. Another thing is that banks or other wealthy entities don't trust exchanges and will not participate in them; their only way is to accumulate coins through private deals, which is getting increasingly harder with so much OTC demand.
Miners have plenty of buyers to sell their coins to, mostly at 25-50% market premiums due to their virginity. Services connecting OTC traders have to deal with far more demand (ie, more buyers than liquidity providers). People holding Bitcoin don't really want to sell many coins anymore with how the price will be going up. It's not easy to obtain Bitcoin anymore, especially not in extremely large numbers.
And banks will still find something to do in the new market.
In any case, banks will exist. They will find what to do and how to influence the economic market and people's lives.
Banks are too strong an institution to simply disappear.
Even if bitcoin were to become the main currency, traditional money and a range of services would still be needed.
Even if bitcoin were to become the main currency, traditional money and a range of services would still be needed.
In the future, states will officially accept the Crypto and if they are legitimate, they will have to change the systems of the banks. If they can change their systems, their intended use will remain the same, but they will exist.
Bank will have no power to control people's money. the owner can ez to do whatever he want to his money. save, send, etc
As per my knowledge banks will shut down their business or they will adopt crypto currency as a legal tender for deposits and withdrawals. Also, they will set up or convert their ATM's into crypto withdrawing machines. I think this will happen in another 5 years maximum and the banks will be forced to do this as to sustain and withstand competition from crypto currency and others.
Banks will adapt and how much they will have to adapt will depend on the level of adoption, but if bitcoin is adopted globally and it becomes one of the most important currencies around the world then the economy based on bitcoin will make banks change their ways, it is going to be impossible to create an economy based on debt with a currency that has a limited supply, this more or less works in fiat because the amount of fiat is unlimited.
Nothing bad will happen to banks, they own almost all money in the world and they already have many crypto coins too, if they want they just can buy all top10 coins and rule the market
Surely no problem will happen to the bank, only the new user is the problem.The bank owns almost all the money in the world and they understand very well inside the market. They are very stable and no matter what happens, the bank is ok!
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