Will banks disappear because of cryptocurrency? - page 18.

bitcoinmar

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Quote from: mintomia199 on October 03, 2018, 11:21:26 PM

cryptocurrency can not destroy the traditional bank system as government is involve in it. cryptocurrency can work together with the traditional bank system to make our life more easy and comfortable. cryptocurrency can solve many problems with the help traditional bank system Lips sealed

Yes, that is unlikely, it can only happen in one case if the government supports a coin and sees it as the official currency that venezuela did.

tungaqhd

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Quote from: Mr.frost on July 19, 2018, 02:09:36 AM

This really what I keep on asking myself since we all know that cryptocurrency dominates the bank as time pass by. I wonder will it result to total collapse of bank industry?

Feel free to drop your comments here.thanks

i think cryptocurrency cannot remove banks because banks are safer option for people to save money. banks are very modern now, they use many new technology so it is hard to compare banks and cryptocurrency.

drixty

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The reason why banks exist is because they can do credit creation by issuing loans. This enables a bank to lend out more “money” than reserves at the central bank and other assets. Crypto is like “gold” and if it becomes more common in everyday transactions it would mean that banks would have to build up crypto reserves, in case they start having accounts denominated in bitcoin. This in turn enforces central banks to hold crypto in case banks have to be bailed out if crypto becomes very common.

kirstiemorton23

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I think it is very difficult for Crypto to remove the role of banks that have been for a very long time, I think banks will adopt cryptocurrency in their systems and they will use blockchain technology to support cryptocurrency and make crypto banks, you know that very few people understand crypto if we calculate that number from the world population.

Jalum

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Quote from: draculaaa on October 03, 2018, 11:48:15 PM

It's hard to say but considering last projects seems that banks will be unuseful in the future.

Banks may not disappear, there may be a new electronic payment gateway that will cause banks joining in to reveal a global banking company.

draculaaa

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It's hard to say but considering last projects seems that banks will be unuseful in the future.

Leyss

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Quote from: Mr.frost on July 19, 2018, 02:09:36 AM

This really what I keep on asking myself since we all know that cryptocurrency dominates the bank as time pass by. I wonder will it result to total collapse of bank industry?

Feel free to drop your comments here.thanks

Cryptocurrency has never dominated and will not dominate the banks. Banks do not depend on cryptocurrency in any way and will continue to fulfill their functions and will never disappear. Cryptocurrency practically does not affect the work of banks. Only bankers lose part of their profits due to the fact that people partially switched to the use of cryptocurrency and less began to use the services of banks.

mintomia199

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cryptocurrency can not destroy the traditional bank system as government is involve in it. cryptocurrency can work together with the traditional bank system to make our life more easy and comfortable. cryptocurrency can solve many problems with the help traditional bank system Lips sealed

otunayode

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We can see the benefit of decentralisation vis a vis centralisation, the advantage outweigh the disadvantage. And as people use cryptocurrency more and more, there will less and less of banks and it's service provider. I think there will still be some sort of bank, but not like the ones running now!

florinda0602

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Quote from: contactmike1 on September 26, 2018, 08:57:08 AM

I think eventually they will disappear or will be transformed in entites accepting crypto currency as well as fiat money.
But it won't happen soon,maybe in 7-10 years

I do not believe that the bank will disappear because of the crypto currency, the crypto market is unpredictable and we do not know how long it really can lasts in this world, but the regular bank is already established.

Cpt.Magic

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No, banks will always control currency. They have political power beyond anything you can imagine. They're whales 100X beyond Bitcoin whales ever thought of being. The governments will get angry because they cannot control currency and shut down crypto currency. But, that's a few years off and a lot of profit before that happens.

Cpt.

fvb

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Quote from: Mr.frost on July 19, 2018, 02:09:36 AM

This really what I keep on asking myself since we all know that cryptocurrency dominates the bank as time pass by. I wonder will it result to total collapse of bank industry?

Feel free to drop your comments here.thanks

I think that banks will remain and integration will take place, into a unified system, on the basis of decentralization, with the blockchain. The banking system will change and will not be the same as we see now. Transformation, just a matter of time. How many need, I can not say. But the fact is that in most countries in Africa and South America cryptocurrency calculations are allowed.

BlackRacerX

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Quote from: Mr.frost on July 19, 2018, 02:09:36 AM

This really what I keep on asking myself since we all know that cryptocurrency dominates the bank as time pass by. I wonder will it result to total collapse of bank industry?

Feel free to drop your comments here.thanks

Most probably as we do not have use for banks because of blockchain technology. If we have blockchain technology as a main stay in the whole cryptocurrency industry, then we'll probably see a future with a bank in sight. Blockchain would hold all of your profits and money at the same time, transfer it anywhere at anytime.

FreeAirdrops

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Infleum

Well banks offer so many different services and cryptocurrency doesn't necessarily compete with them in all areas. Even if crypto becomes mainstream they'd probably just offer custodial services and people would store Bitcoin with them I'm sure.

Lagduf

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Quote from: sultanGol on October 01, 2018, 06:48:25 AM

I could imagine, that banks will have serious problems in the future, cryptocurrencies could truly make them useless. But there is a very very long road until than.

There will be no serious problem to the bankers, crypto is about to replace the traditional economic system with modern ecosystem. as far as i know about the fact that crypto doesn't have any regulator support and that could be the main reason why crypto can't overcome the bank system.

rufusBTC

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The World’s First Blockchain Core

Quote from: Mr.frost on July 19, 2018, 02:09:36 AM

This really what I keep on asking myself since we all know that cryptocurrency dominates the bank as time pass by. I wonder will it result to total collapse of bank industry?

Feel free to drop your comments here.thanks

Yes definelty. It is surely need some time for that. But you know already we can see too many banks closing their offices and they are turning fully in working internet.One level higher from there is crypto currencies.
and after that we dont even need banks applications. and they will collapse.

darefreads

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Of course NOT it will not gonna disappear that easy because only cryptocurrency are in now many people are still using banks to separate their money to keep on them. And I think many people will not gonna let banks disappear to transfer their money on a new wallet to make an easy way of keeping their money, as I know many people still think that cryptocurrency that's why it is hard to say that they can make banks disappear.

Kelvinovie2

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Lol funny topic, but banks ain't going no where anytime soon, it's not going to happen, not now not ever, don't forget government don't really like crypto that much because of the anonymous activities, they always prefer a system that's within their control. So that reason alone banks won't move an inches.

sunsharm

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As I would see it everything relies upon us. At the present time everyone is holding up this ETF thing however we ought not think about it in any case. Bitcoin is consent less. So why the hach we are sitting tight for some sort of consent? It sounds insane to me. It appears that individuals have overlooked a big motivator for digital forms of money. Control obstruction and authorization less. On the off chance that banks are still here in 10 years then we will be simply dumb rush of sheep.

Bren Briones

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This topic is quite interesting and the idea is quite good. For the question will bank shall disappear because of cryptocurrency? My opinion is NO. Banking business are widely spread out over the globe for many years. They are far more established and regulated. The thought of having a bank less community may happen probably but not in the coming years. What could happen is that crypto currencies will be more accepted and be used as alternatives in the currency system. If there will no bank anymore then by that time,we will be living in a cashless society .

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