Topic: What would happen to banks? - page 5. (Read 13948 times)

I agree and this is true that banks can never be obsolete because they can easily shift from fiat to crypo currency if they want too because they always mean business. In fact, most of the banks are in partnership with the exchanges in which we can truly use their cash out facilities every time we convert our Bitcoin. If they are against the Crypto then they should fully ignore the cooperation since the beginning of the crypto currency.

This is in fact a very difficult question for which it is difficult to find an answer. global banking didn't find a way to control Bitcoin/blockchain, thereby all the banks are doing now is lobbying the governments to regulate and tax the shit out of Crypto investors and companies so they can steal blockchain for themselves. in my opinion, eventually banks will embrace Blockchain and use it to their advantage. Bankers are not stupid, most money are belong to them. they're probably hoarding bitcoin and control Crypto market from dark corner. the last bull/bear run is probably their works.

Yes I agree with this, we can connect banks with cryto, they can move their money to that bank, the onlg advantage that I am thinking is banks will need to know your source of fund, and also there will be a maximum amount of deposit because if exceeded they may hold your money and you need to pass all the files regarding to your money.

How ever bitcoin become popular around the world but investor or trader of bitcoin have use bank for cashing out bitcoin for the money, without have bank how to buy some thing in our live using money when bitcoin still not legal transaction payment, I always cash out my bitcoin balance to the bank and keep hold it for using with many transaction.

Bank still have connection with thousand member save money in the bank and region government always use bank as their saving, when bitcoin or altcoin become popular will be possible member or bank investor move their money become bitcoin or altcoin assets, government region want to hold bitcoin or altcoin than have save money without increase little.

Banks are the worst place to go in aspect of putting your money because once you put your money in the bank then you are losing the value of your money because of the very low interest and with the inflation, it will just be eaten by the inflation rate. It is indeed good to just put your money in cryptocurrencies since they have a higher yield of opportunity for your money to grow.

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

Banks are the worst place to go in aspect of putting your money because once you put your money in the bank then you are losing the value of your money because of the very low interest and with the inflation, it will just be eaten by the inflation rate. It is indeed good to just put your money in cryptocurrencies since they have a higher yield of opportunity for your money to grow.

Although many people keep and move money become bitcoin investment assets but bank keep need by investor to withdraw their bitcoin become cash money, without bank how to withdraw bitcoin to be cash money. Bank keep exist with money cash out by bitcoin investor depend on how much bitcoin they have.

Why would I ever worry about putting my money in the bank? Robbery? I don't think they have that weak of security. Banks give a small profit based on the money that you have in your account. We should not even compare these two since if you will be talking about investment, I will obviously go with bitcoin and other crypto currencies, not the bank with that faucet profit.

Investment on the Bank just giving little profit and investing money in bitcoin or altcoin getting much profit but have faced with big risk when bitcoin or altcoin price dump, how ever bank and bitcoin investment have positive and negative side, ready your self before take one of them.