Topic: Why the Bank would no longer fit for the future? - page 2. (Read 4178 times)
I do not agree that banks will disappear because banks provide different services for its clients from loans, savings account, mortgages and easy secure money transfers, and unlike service providers like blockchain which have not got to be adopted by our governments... we shall still rely on the usual fiat services.
I think that won't happen even in the future. A bank has more purpose than sending and receiving Money. They also lend money to people who need it. That is what the call loans in which they earn interest from it. Bitcoin wallets can't do that because there is no entity handling the flow of money to be given out to.
Let's face the reality that bank will always be in the future, whatever improvement or changes in our fiat system in the coming future bank will still be the one to monitor and control it. We have tried the decentralize system but we have the government that will always not allow the people not to follow the laws and regulation in our respective locations. Banks will stay and I hope crypto will improve and be working with banks if possible.
Soon, banks will be using blockchain technology and will be using their digital money that's true, there are two things that might possibly happen when that happens, it is either they will adopt bitcoin and use it along with money, meaning they might be accepting bitcoin as a deposit or use it like how we transact fiat in banks, and the other scenario is that banks might dump bitcoin and start to file a case against the use of it.
With this scenarios, and bank as a legal entity, they will be living as long as they are on the government side and possibly the biggest rival of bitcoin.
That's just the "dream" of bitcoiner's. Banks will always be there and I don't think BTC is going to overthrow USD in the close time therefore it will be even in USD, it fills quite some needs for loaners, lenders and as well as the whole financial system so it's not going away although it's centralization. Curious to see if a bitcoin "bank" -a real bank- would ever come? ...
Let's face the reality that bank will always be in the future, whatever improvement or changes in our fiat system in the coming future bank will still be the one to monitor and control it. We have tried the decentralize system but we have the government that will always not allow the people not to follow the laws and regulation in our respective locations. Banks will stay and I hope crypto will improve and be working with banks if possible.
I agree, its not possible to happen that banks will disappear in the future, majority of people dont have knowledge yet about bitcoin or any other crypto currencies. but it would be better if btc and banks work together in the future im looking forward for that to happen.
I partly agree with op post here that Blockchain technology shall take over in future and there are many examples to suggest that it is happening. Many banks are opting for blockchain technology but what most people fail to see it is that, it was bitcoin that made every one use blockchain, without Bitcoin will people really be interested I am not really sure. But I don't see banks disappearing anytime soon in the long run.
Let's face the reality that bank will always be in the future, whatever improvement or changes in our fiat system in the coming future bank will still be the one to monitor and control it. We have tried the decentralize system but we have the government that will always not allow the people not to follow the laws and regulation in our respective locations. Banks will stay and I hope crypto will improve and be working with banks if possible.
Why the Bank would no longer fit for the future?
Banks are still able to adapt the trends and technology
Banks are still able to adapt the trends and technology
They aren't usually the fastest to adapt.
If they really do embrace blockchain technology, they could be signing their own death warrant. There are few advantages to having your bitcoin in a bank, and I think we could expect fractional reserve banking to happen with crypto too, if banks get involved.
Banks don't like doing their job, i.e. storing people's money. They always see it as an opportunity to make more money, literally and in terms of profit.
We should keep in mind, now still bitcoin is not used in all over the world and also majority of the people are here who still don't know about any crypto currency. So it is really impossible for me, that bitcoin could disappear the bank. We are using bank because of fiat currency, and we are using blockchain because of crypto currency. When ever still fiat is here than still banks would work and i know fiat currency always be here in the world.
Banks will always be there even in the future, and bitcoin will never dethrone it in its position...It will not disappear because of the existence of bitcoin and the blockchain, and it is not enough, banks has more business made each day and not just keeping money... In fact, blockchain technology will be a great help to the banking system...
Who knows, one day, bank will be integrated and use both bitcoin and fiat deposit and with the use of blockchain technology...
We should keep in mind, now still bitcoin is not used in all over the world and also majority of the people are here who still don't know about any crypto currency. So it is really impossible for me, that bitcoin could disappear the bank. We are using bank because of fiat currency, and we are using blockchain because of crypto currency. When ever still fiat is here than still banks would work and i know fiat currency always be here in the world.
Disappearance if banks is not possible i guess. Majority if people in the world are using banks. Keep in mind that we cant store fiat in our bitcoin wallet. So banks will be always a better option to store our fiats. Theres a possibilty that banks will adapt blockchain technology for their transactions.
yes i also agree with you. i also do not think that banks will ever disappear. because the majority of people still using fiat and they do not know about, bitcoin and the second reason is that most of the people even countries do not have access to computer and internet therefore it is difficult for them to get the service of bitcoin even in near future, therefore banks will continue for a long time.
Why the Bank would no longer fit for the future?
Banks are still able to adapt the trends and technology
Banks are still able to adapt the trends and technology
It will be impossible to make bank disappear, a country need bank not only to keep the citizen money but also to become the economics foundation, and bitcoin won't be able to do that, bitcoin can become the sub currency to accompany fiat, but to replace a bank it will be impossible
That is farthest thing that bitcoin can be, the so called sub currency online. Government and banks are linked together not because government owned the banks but because people running in the government office are being financed by big owners of the bank. This implies that in their whim they could just make bitcoin be illegal with the use of their connections. So this is a clear example why the banks will survive and bitcoin cannot do something about it. As of now banks are now integrating blockchain technology into their system and they are now turning fiat currency into a digital currency and that will soon result into a cashless society for all of us.
It will be impossible to make bank disappear, a country need bank not only to keep the citizen money but also to become the economics foundation, and bitcoin won't be able to do that, bitcoin can become the sub currency to accompany fiat, but to replace a bank it will be impossible
Disappearance if banks is not possible i guess. Majority if people in the world are using banks. Keep in mind that we cant store fiat in our bitcoin wallet. So banks will be always a better option to store our fiats. Theres a possibilty that banks will adapt blockchain technology for their transactions.
I don't Think this would happen to all the banks in the world. Some countries would resist to accept BTC as a valid currency ans they will keep the fiat in the streets.
I think in the future, banks will dissappear, Wallet online Blockchain or Coinbase will replace Banks, we can look forward to a world in the use of virtual currency and transaction technology of Blockchain, Banks not suitable for future
I don't think banks will easily be replaced by anything as banking system is with us from centuries and talking about blockchain & coinbase bitcoin wallet there is no doubt they are the top bitcoin web wallet right now but we can't assume them to be alternative for normal banks.Banks may adopt blockchain technology in future as you can see lots of banks are researching on blockchain technology right now to enable them in their banking system. However bitcoin may not be able to replace banks within next few decades for sure.
Well nothing is predictable especially when it comes to the future, so we can't say anything about a few years later from now. And banks have been existing for decades now, their existence can be seen as one of the first sign of world's economy growth and we still can't deny the benefits of banks in some particular cases, so banks won't let bitcoin take over that easy.
The fact that banks have been here for a long time is actually a competitive advantage, but people tend to look for easier and cheaper solutions to get things done, and with the use of the internet, many people will know that Bitcoin is capable to simplify things and solve many problems, making the economy a better economy.
Well nothing is predictable especially when it comes to the future, so we can't say anything about a few years later from now. And banks have been existing for decades now, their existence can be seen as one of the first sign of world's economy growth and we still can't deny the benefits of banks in some particular cases, so banks won't let bitcoin take over that easy.
The fact that banks have been here for a long time is actually a competitive advantage, but people tend to look for easier and cheaper solutions to get things done, and with the use of the internet, many people will know that Bitcoin is capable to simplify things and solve many problems, making the economy a better economy.
Well nothing is predictable especially when it comes to the future, so we can't say anything about a few years later from now. And banks have been existing for decades now, their existence can be seen as one of the first sign of world's economy growth and we still can't deny the benefits of banks in some particular cases, so banks won't let bitcoin take over that easy.
The fact that banks have been here for a long time is actually a competitive advantage, but people tend to look for easier and cheaper solutions to get things done, and with the use of the internet, many people will know that Bitcoin is capable to simplify things and solve many problems, making the economy a better economy.Jump to: