Will banks disappear because of cryptocurrency? - page 36.

chip1994

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Quote from: Mr.frost on July 19, 2018, 03:09:36 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

That is an entirely false opinion, whether the cryptocurrency exists or not is not related to the bank. And at the present time, if there is no bank, the exchange from cryptocurrency to fiat currency will not be possible. If the future of cryptocurrency develops, banks will also grow to meet the needs of people about cryptos trading.

makladun

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I dont think it could happen in the nearest future, as for the next few decades the world will have constant need in the fiat money system.

EdenHazard

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Quote from: klebsiella on August 28, 2018, 03:52:03 AM

No, cryptos cannot make banks disappear. Although cryptocurrencies are gaining popularity across the globe, it is not acceptable globally. There are places that bans the use and transactions of these coins. And not all people have access to computers and the internet, meaning they don't know these coins exists. Fiat or paper money is what is being used worldwide, so banks are here to stay.

i won't say it can't , to make banks completely disappear we should have a better system than what banks offered before , and it takes a very long long time to convince people/public widely . it's like a mission impossible as people have subordination on the banks already.

even digital era has been started , it's difficult to replace bank role .

Crypto_circuit

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Quote from: Mr.frost on July 19, 2018, 03:09:36 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 do not agree with that. The cryptocurrency is a virtual currency and could be used to pay for items and carry out transactions from any part of the world. The main purpose is to unite the global trade and taking power away from the government agencies who manipulate and regulate local and foreign trades.

However, the cryptocurrency wont replace the bank, Bitcoin is bigger than our local banks. its goal is far more than four walls of any country.The banking sectors are there to regulate our local economy. The fiat currency is a very stable currency of which we can keep our asset value at almost at a fix value over a considerable amount of time.

I think the bank and the cryptocurrency would work hand in hand to stabilize global and local trade.

Baronggot

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Not really in the context of cryptocurrency being the alternate currency to fiat because not all people are also in favor of cryptos. Countries who banned cryptocurrencies, for example, would rather use banks (especially those government owned banks) rather than settling on the asset that they fear would cripple their economy.

jeankinkadekia

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Quote from: Mr.frost on July 19, 2018, 03:09:36 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?

No. It will never happen, bro. Banks have a specific function to manage fiat in real life. Not only that, people and a country need the banks for many sectors in this life. Especially, in economic and financial sector. So, it seems impossible to disappear, bro.

LiluSG

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We are in what time frame reasoning? On your life - no
Breaking the economic and financial system will not be easy, more than confident that nothing directly globally will change. The rich will be richer, resources will be drawn from other countries.

diedvw96

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I think not, in the most realistic case is that the banks and cryptos reach an agreement to work together, in the end, we all want to have better transactions and remove the middlemen and that is something that can be achieved, it will be a question of each one whether to get involved in that or not.

Vicky624

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Well, bank can not disappear for cryptocurrency but most of transaction will be on block chain. schools, organization, government firm, companies are making use of block chain to transact, record or keep information.

asriloni

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Quote from: Akano on August 28, 2018, 06:41:01 PM

It doesn't look like something that will happen at all, for every nation,banks play a major role in the financial system and most of the banks have very strong affiliation with the government. The worst case scenario is that banks may come up with their own coin too

Not sure about the will come with their own coin but I think that the only problem because it has cooperation with the government. almost all of countries in the world have the banking system on their countries except a few countries included kuba. They will be only adopting the blockchain technology.

killerfrost

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I think that will not disappear because of electronic money. But these banks are gradually changing to adapt to blockchain technology and electronic money in the future. Many banks are beginning to research on blockchain technology. In the future, many banks will trade in electronic money.

Cactushrt

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No it will not, banks will stay even cryptocurrency is legal in most country unless the fiat will dissapear maybe banks will bankrupt also.

Akano

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It doesn't look like something that will happen at all, for every nation,banks play a major role in the financial system and most of the banks have very strong affiliation with the government. The worst case scenario is that banks may come up with their own coin too

Caelanpelley

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How electronic money can make a bank disappear. This does not happen. Banks exist to meet the needs of daily money transactions of all people. This is where the official currency of each country. There can not be a bank. Bitcoins may or may not.

xenomorphe1

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I don't think banks are going to collapse. We will see less and less job in banks as everything is going to be replaced by AI and robots one day.
They won't disappear as banks are the pillars of a country economy. Governments won't change this system so easily as they have more to lose than to gain if banks disappear. Governments want to be able to control the money.
But very poor countries could maybe one day see this kind of change, as their money get devaluated and become worthless.

pobeda

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personally my opinion - banks and crypto-currencies will exist in parallel to each other in a certain symbiosis mutually complementing each other.

sexylady13

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Quote from: Mr.frost on July 19, 2018, 03:09:36 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

Don’t think so critically about banks. Of course, they will not disappear - because this is a proven and the most widely used financial institution. It is more likely that the cryptocurrencies will become very slow but inevitably integrate into the banking sector, gradually replacing some types of operations or divisions. In my opinion, this is the most realistic view of the development of cryptocurrency!

DisBITcus

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Well at the moment it's loud statements. I want to remind you that for all its popularity. Crypto-currency is not yet ready to accept the whole world. But this all moves. It can only be real in the future. We will see.

antogen123

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no it will not. since banks will react quickly and also begin to accept cryptocurrency. process the transaction

IVEXO

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I do not think the bank will disappear
Because they are both 2 different perspectives of live

Blockchain and crypto currency makes payments easy and easier
But banks make business grow faster

Crypto currency will ease the burden on banks and we can have a safer world

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