Topic: Will banks disappear because of cryptocurrency? - page 24. (Read 64412 times)
Cryptocurrency cannot push out banks for the following reasons. 1. Banks are established by authorisation of government and government will go a long way to protect it. 2.The public confidence built by crypto is not is not enough to command public patronage. A lot of enlightenment need to be done. Though both are in finance their modus operandi are not the same. 4. Fiat money has more stable value than money. the volatility of crypto has made it impossible to store for a long time.
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
Feel free to drop your comments here.thanks
Maybe in the future bank might dissapear or change to crypto withdrawals as well, which we will not know beforehand but most likely will many years later. Total collapse seem to be quite impposible to happen many things still need banks to do the job if it is vanish i guess it will be a big chaos.
No bank will not be lost. the bank is regulated and controlled by the government which gives permission for operations. Cryptocurrency in other ways has been considered illegal in some countries which means no country can make crypto replace Fiat Bank.
Banks will exist as long as the state exists. In fact, banks have become part of the state system. Therefore, they have nothing to fear. If the crypto currency starts to conflict with banks, which is unlikely to happen, then the state will be on the protection of banks and crypto currency will be very bad. Therefore, there will be no collapse of the banking system and simply can not be.
No matter how many spread the crypto in almost every countries, the bank cannot disappear, the bank will have it Wat, so Also crypto world have it's way, unless Barnes by government
More and more coming into use cryptocurrencies will eventually change existing financial system, but banks will remain in a transformed form. They will act as hedge funds and carry out operations for safe storage and issuance of loans in cryptocurrency.
I don't know if bank will disapper cause the cryptocurrencies, if the crypto will really be the money of the future we still need a centralization where...But these banks are gradually changing to adapt to blockchain technology and electronic money in the future...
Banks is the only way we can get in touch with cryptocurrency exchange d into cash form of money. Although we all knew crypto is a digital money, but not all transactions were made into online, most of them were done through fiat cash.
Banks will continue to exist as long as the fiat exists. Both banks and cryptocurrencies will coexist because the final exchange of crypto is to a fiat. There are services which are unique and only particular to either crypto and Banks.
You are only looking at how the system works today, what is going to happen to banks once cryptocurrencies begin to be accepted directly and we do not need to exchange our cryptocurrencies for fiat currency? At that point many of the people in the forum are probably going to stop using fiat and if they are paid in fiat they will convert it to cryptocurrencies immediately and forget about that currency controlled by banks and governments.Payment is only one of the many businesses of a bank. Then there is custody, credit, mortgages, business financing services, etc.
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
Feel free to drop your comments here.thanks
they can co exists. the 100% dominance of cryptocurrencies is not possible because we are not fully banked there is a big chunk of the population that is unbanked and doest even know how cryptocurrencies work. just imagine how will crypto will be used during calamities like storm where banks and internet is not available. how will be the mode of payment then?
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
no its not, because banks can use cryptocurrency in the most possible way, and we are using banks to make our crypto turn into fiat, banks are the largest financial institution that helps the people, they will surely take advantage of crypto, they wont let crypto to make them disappear. Feel free to drop your comments here.thanks
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
Feel free to drop your comments here.thanks
there's no way the bank will disappear, it's impossible. if cryptocurrency gets bigger and even the government has already agreed on crypto, then the bank will make its own coins. the bank won't just disappear.
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
Feel free to drop your comments here.thanks
it can happen, because the more cryptocurrency develops and controls the world, then we don't need a bank anymore. We only use mobile phones with crypto transactions and there is no need for a bank. so the bank will disappear.
Banks will continue to exist as long as the fiat exists. Both banks and cryptocurrencies will coexist because the final exchange of crypto is to a fiat. There are services which are unique and only particular to either crypto and Banks.
You are only looking at how the system works today, what is going to happen to banks once cryptocurrencies begin to be accepted directly and we do not need to exchange our cryptocurrencies for fiat currency? At that point many of the people in the forum are probably going to stop using fiat and if they are paid in fiat they will convert it to cryptocurrencies immediately and forget about that currency controlled by banks and governments.This will be so difficult to do or almost impossible for me.
Traditional banks will disappear and be replaced by digital banks. Digital banks take advantage of blockchain technology to offer better banking services. MyCryptoBank is a company that aims to do this. MyCryptoBank will offers banking solutions and financial products with low fees, instant transfers, no territorial limits and no currency limitations.
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
Banks will not disappear anywhere and they will continue to work with the passage of the crypto currency, as they worked without it. Banks are in fact part of the state system and therefore nothing threatens their existence. And decentralized crypto currency, which can only go in parallel with the national paper money of various states, can not lead to the collapse of the banking system. Feel free to drop your comments here.thanks
This is the greatest threat imposed on our Banks by cryptocurrency, it is because cryptocurrency was mainly introduced to replace the financial traditional banking system that is characterized with series of difficulties.
Although, if measures are taken and the banks starts adopting cryptocurrency which is more like an incremental to what they're doing; they wouldn't disappear or go moribund.
Although, if measures are taken and the banks starts adopting cryptocurrency which is more like an incremental to what they're doing; they wouldn't disappear or go moribund.
Not really. Cryptocurrency was not made to render banks useless or make them obsolete. Cryptocurrency was created to be an alternative of fiat. Personally I believe that banks will eventually start to accept cryptocurrency in order to stay relevant. Here where I live we have banks already starting to accept cryptocurrency. Banks will always adapt to these changes in order for them to survive.
I very much doubt that banks will disappear, but rather I doubt that cryptocurrency would be so popular. Cryptocurrency is a unique technology far superior to banks, but many people still will not believe in it and to use the same money and conventional banking services.
I think the bank will not be lost because of Crypto. But in my country, if we want to dilute the results of crypto. The result of this crypto is sent to a bank, then new money can be disbursed. And if no banks are certainly crypto will have difficulty in the disbursement of funds. And it's like it's been entwined in a partnership.
Jump to: