Bitcoin Forum

Economy => Economics => Topic started by: bei on January 04, 2018, 11:13:46 AM



Title: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: bei on January 04, 2018, 11:13:46 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Andrej Peiboski on January 04, 2018, 11:16:52 AM
Nobody knows exactly what can happen. I think that at present banks (and authority, generally speaking) haven't still realized what kind of revolution cryptocurrency represents. We'll see.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Don Pedro Dinero on January 04, 2018, 11:22:59 AM
If that ends up happening, it wonít happen overnight, so they will make some changes to try to adapt to the new situation but whether they will succeed is another story. They are already implementing changes, with fewer branches, fewer employees and more features for clients to make their operations online.

I think in the future, bitcoin and some other cryptos will co-exist with fiat currencies, so banks will have a place but I think their importance will be reduced.


Title: Re: Wh will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Godric-Gryffindor on January 04, 2018, 11:58:58 AM
Probably they'll seek a better option in order to continue, we really don't need banks and in fact Street Cleaners are the one more deserve to have a higher salary according to economics evolution website Evonomics


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: davis196 on January 04, 2018, 12:19:47 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

What will happen?I would say... nothing.The banks will adopt blockchain technology and start using  and accepting cryptocurrencies.Unfortunately we still need banks,because we need institutions that accumulate deposits and give loans to eligible business owners and ordinary people.We still can`t automate this process.
Perhaps in the future,we could create a smart contract based system that will work as a crypto bank.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: akram143 on January 04, 2018, 12:34:44 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

If that happens bank also will launch their crypto currency to stay in the game otherwise all banks will be shut down due to lack of earnings which is needed to pay the employers.

Some of the baks already adopted to XRP which is considered as the currency of banks maybe every bank in the world will also do the same.But now we are still early to think about this because crypto currencies are only considered as assets.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Vibr56 on January 04, 2018, 12:36:59 PM
That's true, alt coin prices depend on Bitcoin price for conversion, while Bitcoin depends on Fiat for conversion. They currently need Fiat to compare to they corresponding value.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: kevoh on January 04, 2018, 12:50:56 PM
I don't think anything serious will happen. The banks will adapt to the situation. Infact, there are already blockchain projects like Tokenpay that are being developed to bridge this gap.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: kryptqnick on January 04, 2018, 12:58:11 PM
Nobody knows exactly what can happen. I think that at present banks (and authority, generally speaking) haven't still realized what kind of revolution cryptocurrency represents. We'll see.
Well, we can predict two possible options depending on the banks' actions. Let's assume people use cryptos a lot. Banks start to lose their clients. If they do nothing or try to convince people to use fiat, they will eventually become bankrupt and vanish from our lives. The only banks that will still exist will be national banks storing the state's money. If banks choose to survive, they'll need to start accepting cryptocurrencies. They may start from those like ripple and blackmoon who want to cooperate with banks and then move to other famous coins. People might still use banks this way, feeling more safely when the money is stored on banks' hard wallets rather than online or at home, just like people do now with fiat.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: filharvey on January 04, 2018, 01:14:51 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
Banks would suffer serious losses in transaction sector since bitcoin would be much used for that. But for now, bankers have a small relief since bitcoin is facing serious issues about transactions fee. This might be the first time in the banking history that they face a big rival. But still banks would exist as lending loans is the main source of their income.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: ice18 on January 04, 2018, 02:13:57 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
Im sure if this happens many banks will closed or they may shift to other business or more likely to enter the world of cryptocurrency also they will probably use the stock money to buy any crypto for more profit and avoid bankruptcy.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: chrmn27 on January 04, 2018, 02:16:30 PM
This will cause numerous banks to close. However, before it could happen, surely the government will regulate crypto currencies or even bar the usage of it. Of course, the government will side with banks cause they can get more taxes from banks over crypto currencies.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: boyshx on January 04, 2018, 02:44:42 PM
Nothing will happen to banks, banks are here for more than 100 years. Banking industry have changed, updated and modified them from time to time. In future when cryptocurrencies will become more popular than fiat currency banks will change themselves. They may introduce their own cryptocurrecies or may regulate currencies operating at that time. Some banks have already started steps in this direction.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: michkima on January 04, 2018, 03:25:08 PM
Nothing will happen to banks, banks are here for more than 100 years. Banking industry have changed, updated and modified them from time to time. In future when cryptocurrencies will become more popular than fiat currency banks will change themselves. They may introduce their own cryptocurrecies or may regulate currencies operating at that time. Some banks have already started steps in this direction.
To add to this, banks will likely adopt or they will die like other companies that don't adopt change. Look at Nokia, back in the day they control over 60% of the market, but just in a few years to only had 10%. And not they are gone. They were a company valued at $50 billion dollars when it was in its prime, but the company was only sold at $7 billion dollars to Microsoft. This will happen to banks if they do not adopt change, for sure someone else will gladly take their position.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Smokey Bob on January 04, 2018, 03:27:14 PM
Nothing will happen. Some banks would adapt, and live on. Others might perish due to their old ways. New banks would erupt in the void. It's not like decentralization of the currency makes it impossible for organizations to profit from its use. That's what banks do. They would probably make even more money, as many things can be automated. They can then have fewer staff members.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: MakeMoneyBtc on January 04, 2018, 03:44:22 PM
Thats extremely hard to happen. Less then 1% of the population uses cryptocurrencies and there are no big shops or services that accept payment in bitcoin or altcoins. In order for cryptocurrencies to surpass banks more thanthan 50% of the population have to use bitcoin/altcoin to pay everywhere and everyday wich right now is impossible.

Cryptocurrencies were created to be the payment method and to have more advantages than banks but as we can see the fees of bitcoin make it impossible to be used as an everyday payment method. The volatility is very big and  today your bitcoin can worth 15.000$, tomorrow it worths less then 10.000$. Dont you think in this situation would be better to have your money in a bank where they have the same value overnight? It is possible that cryptocurrencies will be used more than banks in future but it will takes at least 100 years for that to happen


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: PEG-TOKEN on January 04, 2018, 03:48:24 PM
The issue with the banks is all of them need to use blockchain tech or none of them.. It's a everyone jumps in or don't secenario.  Half the banks can't using blockchain and the other half not.

When we see some adoption by the banks I think it wont be long before your being paid in satoshi's or what ever the banks will roll in and decided to call it.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Finestream on January 04, 2018, 04:22:13 PM
Nothing will happen to banks, banks are here for more than 100 years. Banking industry have changed, updated and modified them from time to time. In future when cryptocurrencies will become more popular than fiat currency banks will change themselves. They may introduce their own cryptocurrecies or may regulate currencies operating at that time. Some banks have already started steps in this direction.
I think they will learn to accept bitcoins in order for the banks to be retained.But i don't think it will happen suddenly.Bitcoins should pass along first the government and once it has been adopted,banks and other institutions will soon to accept bitcoins as a real currency.Otherwise if banks will refuse to accept bitcoins,they will lose thousands of their depositors and it might totally cause them to close their banking operations.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Ctn on January 04, 2018, 04:23:41 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
The basic thing is blockchain here which you talking about. The whole crypto market works on the principle of blockchain and no matter what which crypto they use for transacting with their banks it will be same from all sides. The banks will run in the same as manner as they are doing today. If you think that this will turn the crypto currency to huge pumped coins one day then thats not gonna happen. The reason is simple, when banks will start accepting the crypto currency then there will be some sort of regulation that will come in place and this will restrict the very decentralised nature of the crypto currency. The whole thing will run on blockchain which won't be similar to today's date. So it will make huge difference on the crypto currency and not banks really. They will operate normally and will eat our money in similar manner as they would do today.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Dudeperfect on January 04, 2018, 04:40:42 PM
Sudden (yet expected) surge in the ripple shows that Banks are fascinated with this technology and they are eager to use it to optimize their current time consuming traditional infrastructure. However, there is no reason to worry as decentralisation is not going anywhere and still we will see the fiat currencies on the blockchain. There will be the people who will still use the fiat currencies irrespective of the technological advancements.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: JTEN18 on January 04, 2018, 04:48:34 PM
Banks will still exist even though in the future cryptocurrencies will be use more than fiat. First, when that happens bitcoin was surely adapted by most countries and banks were already accepting bitcoin just like international currencies. Second, it will take decade before that happens.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: iram1011 on January 04, 2018, 05:50:53 PM

This question has been asked many times in the forum and my answer to it seems to be intact .
Bitcoin will not halt the banks of the world . Bitcoin is still a virtual object and  there is still need to convert it into our own fiat for its use for us . No country is ever going to dump their fiat and accept bitcoin in its place . Both the currencies will work simultaneously and so the banks will never be affected by it . There will be some level of updates in the functioning of banks due to introduction of bitcoin , but that would not totally change their systems .             


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: screwUdriver on January 05, 2018, 02:02:50 PM
Banks will still exist even though in the future cryptocurrencies will be use more than fiat. First, when that happens bitcoin was surely adapted by most countries and banks were already accepting bitcoin just like international currencies. Second, it will take decade before that happens.
So far, commercial banks are not very enthusiastic about existing digital currencies. Electronic payments are already displace cash and banks are aware of the danger of losing business if their clients decide to switch to cryptocurrency.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: VitKoyn on January 05, 2018, 02:44:53 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
If people, merchants, businesses, and everyone uses more cryptocurrency than fiat currency in the future then banks will be useless since keeping or transacting cryptocurrencies doesn't require any bank account. What will happen for banks to survive is to adopt it and use or issue its own cryptocurrency for their banking system, if not there's no reason for them to operate because no one wants to put their money on banks anymore. But this is still impossible to happen right now, majority of people still prefer to use fiat for payment method and there are still few establishments that accepts cryptocurrency.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: arief89 on January 05, 2018, 02:52:51 PM
Cryptocurrency has the potential to overtake ordinary money, because cryptocurrency is easier to use for transactions and not hard to carry.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Pleione527 on January 05, 2018, 02:57:19 PM
If crypto currencies will become the main currencies that will be use in the market possibilities that banks can disappear because of the technology present in online wallets which actually provide services more than a banks can do, people can access their money like an online banking method while having the chance of increasing their wealth because of value appreciation in cryptos.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Sebas.tian on January 05, 2018, 03:54:26 PM
Banks will never be as popular as it is now. Because of the upgraded technology we have now,probably, crypto currencies can replace banks. But since there are people who's not aware of crypto currenices like in our country,they'll still go to banks and let their money rest in there.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: newinbtc on January 05, 2018, 04:04:28 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
May be you dont know Ripple Cryptocurrency network is created by banks to transfer the funds ,Banks are the still safe , educated people use Crypto and other people store hard cash in banks and they can withdraw at any time.

Cryptocurrency has the potential to overtake ordinary money, because cryptocurrency is easier to use for transactions and not hard to carry.

What if there is no internet connection and you need money in emergency


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: olushakes on January 05, 2018, 04:12:07 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

It then means that an opportunity have been created for the banks to make more money. The whole of the banking system is ruled by the highest of the capitalist who have the money to get what they want and even pay as much as possible to hire the best to deliver milestone achievement which means all they do is to get a very sound developer, either they hire him or they fund him then give him a stake to create a portion for them in new world order and I tell you there will always be a way they will feature.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: kasansa on January 05, 2018, 04:56:10 PM
Banks are always banks nothing will effect to banks because every country in the world run by government they are  the government's trasuary to earn and to save for the sake of country's development, infrastructure plans etc,  then even banks too have to update their systems to involve the businesses in to start all the transactions in cryptocurrencies as like the banks usual correspondence with their customer, beside this banks will not let down their fiat business.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: sofi@ on January 05, 2018, 04:59:04 PM
Banks are really threathen about the idea of crypto currencies and I'm sure they are now working to have a tool that can use so that cryptos will not able to kill them permanently. If time comes that digital currencies such as bitcoin will become a main currency I'm sure banks will adopt this and possible create their own on line wallet so that they can still penetrate their market


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: screwUdriver on January 05, 2018, 05:39:06 PM
Sudden (yet expected) surge in the ripple shows that Banks are fascinated with this technology and they are eager to use it to optimize their current time consuming traditional infrastructure. However, there is no reason to worry as decentralisation is not going anywhere and still we will see the fiat currencies on the blockchain. There will be the people who will still use the fiat currencies irrespective of the technological advancements.
Banks will not be able to deceive the system to make profits at the expense of other banks or the public. If some of the major banks back up Bitcoin in the future, it can help confidence in financial institutions be restored


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: JL421 on January 05, 2018, 06:15:41 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

Banks will start to worry a bit as they are well aware that the world cannot run without the use of fiat in some form or the other. They might approach the government to tackle the problem, as they can't directly influence their customers to nit invest into cryptos.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: penig on January 05, 2018, 07:24:27 PM
Does anyone know what banks make money at?  I mean real money, the part of their business that brings in the billions?

Loans.

What is Bitcoin and crypto really, really bad for?  Loans.

People in cryptoland seem obsessed that banks will be threatened by a peer to peer payments, when paypal and a dozen other services have been eating that business for years.  In Europe personal bank transfers are free, I've never paid a fee to my banks in 20 years except when I accidentally went overdrawn once. I know transactions are charged elsewhere, but the general direction of change was towards lower and no fees before Bitcoin appeared.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: cybersofts on January 05, 2018, 07:37:17 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
Banks and governments have no choice but to borrow and implement the blockchain technology because there is a shift in the world of technology today. Very soon governments and banks are going to start creating their virtual currencies and assets. I recently read on the news that Venezuelan government will launch their official coin called "Petro" it would be use for buying petroleum in the crude oil market. As time goes on you'll see number of countries launching their virtual currencies.      


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: darkangel11 on January 05, 2018, 07:53:56 PM
Cryptocurrencies still don't resolve the issue of taking loans. Sure, banks won't be getting as much income from people who decide to hold money on their savings accounts, but the amount of loans taken won't change. People will still need to get credit from somewhere and using cryptocurrency to buy stuff online won't change that.
So, my answer is: nothing. They will eventually incorporate cryptocurrencies and will allow you to convert fiat to cryptos, paying a certain fee, just like you do with foreign currencies.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: cryptoindustries on January 05, 2018, 09:11:46 PM
this can happen in the far future because as of now still business are really depending on banks to process their transactions its the most suited technology to provide for small and medium enterprise and business but later on this could really alarm the banks because with the rise of bitcoin to the market people might now get or convert to fiat because and this will really affect them the banks because they will lessen its users at first and second it your family if your switch to crypto you can earn whill doing something


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: player514 on January 05, 2018, 09:41:00 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

It's possible that banks will start to dissapear -- they're rooted in centralized currency anyway. However, it would make more sense that the banks adapt and change their policies in order to have some support for currencies. What I could see happening is banks starting to act like exchanges. They'll be there to keep your bitcoin, but not many people will support the banks because of certain bad practices. If we're to see forks in the future, it's very likely that the banks make their big money off of those forks by not supporting the forks for individuals and keeping the coins for themselves.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: ajmapalo22 on January 05, 2018, 10:29:21 PM
Banks will have small market and people will tend to transfer their wealth on crypto currency investment and because of this banks will incurred big market drop that if they can sustain the adjustment in market they might be lost in the circulation. Online wallets are offering such services like banks can do so banking institition must try adopting it


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: richardsNY on January 05, 2018, 10:37:37 PM
Cryptocurrencies still don't resolve the issue of taking loans.

It's not an issue at all. Taking out loans does stimulate the economy, but at the same time it's an aspect of this system and economy that's all based on debt. What happens if you take out a fiat loan and you default on that loan for whatever reason? Right, you'll get marked for life as someone not having fulfilled your duty, which as per this system, will only work against you. In severe cases you can't sign up for a bank account, can't gain access to certain beneficial support that others in problems can get access to, etc. Bitcoin is the exact opposite of that. Regardless of who you are, you'll always be able to make and take payments, and no one can stop you.


Title: Re: Wh will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: youngagethinker on January 05, 2018, 11:27:05 PM
Probably they'll seek a better option in order to continue, we really don't need banks and in fact Street Cleaners are the one more deserve to have a higher salary according to economics evolution website Evonomics

Banks has been here for a long time, the only thing or the possibility that might happen is that they will create their own cryptocurrency and spread it to people like paper money, just like what they are doing to newly designed printed money. If they won't join the club them maybe in a few more years they will be forgotten by the masses, not because they are not necessary but because they are left out in the revolution just like the nokia pHone back in the days.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: exstasie on January 05, 2018, 11:43:52 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

It's not like commercial and retail banks issue USD themselves. They offer banking and investment services to the public (and to companies). USD (or whatever national currency) is just the base currency.

What's to stop these banks from offering cryptocurrency deposit and investment accounts? Why couldn't they issue crypto-denominated loans? Banks are clearly pushing into into the cryptocurrency services sector. Bank of America recently patented a cryptocurrency exchange system that purportedly will cater to its corporate clients. Why can't banks simply expand their range of services to include Bitcoin, etc?

Does anyone know what banks make money at?  I mean real money, the part of their business that brings in the billions?

Loans.

What is Bitcoin and crypto really, really bad for?  Loans.

I've been in the space for several years. What I've noticed is that Bitcoin investors often immediately look for ways to make returns on their BTC -- investments, trading, etc. Deposit interest and collateralized loans seem like an obvious extension of that.


Title: Re: Wh will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Fatunad on January 05, 2018, 11:53:44 PM
Probably they'll seek a better option in order to continue, we really don't need banks and in fact Street Cleaners are the one more deserve to have a higher salary according to economics evolution website Evonomics

Banks has been here for a long time, the only thing or the possibility that might happen is that they will create their own cryptocurrency and spread it to people like paper money, just like what they are doing to newly designed printed money. If they won't join the club them maybe in a few more years they will be forgotten by the masses, not because they are not necessary but because they are left out in the revolution just like the nokia pHone back in the days.
They wont really tend to join up the club because they do really have their own view and perspective when it comes on making digital currencies rather than on accepting cryptos. They do know the risk and the possible situation would happen into their area of vicinity if they would decide to adopt cryptos. They dont like decentralized things frankly and clearly speaking thats why they would really make on their own which is centralized.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: kier010 on January 06, 2018, 12:38:49 AM
they can ether adapt to it or close their bank because for sure it would make them suffer a huge loss. also they could co-exist with cryptocurrencies to make exchange more easier. it would be good if they could just accept bitcoin and other cryptocurrencies.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: tinystone26 on January 06, 2018, 01:19:02 AM
I think they may report it to the government to make it legal and to make it a part of them that anyone can alsobuse bank n bicois their earn in they campaign they joined.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Xanxus024 on January 06, 2018, 01:59:27 AM
I think banks are not worried at all because it's like a traditions banks used by our ancestors for century and not all the people know the existence of bitcoin or any other crypto currencies and besides fiat is much prefer to used by other basically for our daily needs because the benefit we get on crypto we tend to convert it in our local currencies.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Polipog on January 06, 2018, 02:27:32 AM
If bitcoin digital cryptocurrencies established more percentage user's in the public it can cause less people use and access banking transactions. Because in bitcoin people can used fast directly transaction by using bitcoin wallet.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Sir Cross on January 06, 2018, 04:25:09 AM
If that ends up happening, it wonít happen overnight, so they will make some changes to try to adapt to the new situation but whether they will succeed is another story. They are already implementing changes, with fewer branches, fewer employees and more features for clients to make their operations online.

I think in the future, bitcoin and some other cryptos will co-exist with fiat currencies, so banks will have a place but I think their importance will be reduced.


Banks should keep up if they don't want to be left out. I don't think the banks will cease to exist even with the mass use of cryptocurrencies if they choose to adopt. Otherwise, a different form of bank will be created to cater to the needs of cryptousers, and current banks will lose their business if fiat will go down the drain in the future.

Banks are still very important and relevant in our society today and even with the widespread use of cryptocurrencies, fiat won't be overthrown just yet. If banks can keep up with the pace, then they may survive in the years to come when cryptocurrencies will take over (if they will). Just now, banks are becoming more technologically advanced, so it's quite possible for them to co-exist with crypto.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Mpamaegbu on January 06, 2018, 07:16:51 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
It really would be a nice thing to happen but will the killing miners fees allow that. It has recently become crazy transferring Bitcoin and the backlog of unconfirmed transactions is another worrisome thing. Except all that are taken care of it may be very difficult for cryptocurrency to make fiat transaction disappear.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: cizatext on January 06, 2018, 07:37:08 AM
The bank it self is an institution of government and the government run the bank, even if all the general public option in to use cryptocurrencies as means of making financial transactions the bank will still exist but only the commercial banks will be greatly affected. Banks are already aware of the revolution that is about to take place in the financial sector through bitcoin and cryptocurrencies.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: cryptojac17 on January 06, 2018, 07:42:02 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
It really would be a nice thing to happen but will the killing miners fees allow that. It has recently become crazy transferring Bitcoin and the backlog of unconfirmed transactions is another worrisome thing. Except all that are taken care of it may be very difficult for cryptocurrency to make fiat transaction disappear.
Yeah there is what we called adoptation bank will adopt bitcoin the future certainly bank also will have its rule in crypto currency world maybe some of them will cater as exchanger to fiat. But today I can't see how bank will adopt bitcoin they dont have concrete plan for these.


Title: Re: Wh will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: youngagethinker on January 06, 2018, 08:56:17 AM
Probably they'll seek a better option in order to continue, we really don't need banks and in fact Street Cleaners are the one more deserve to have a higher salary according to economics evolution website Evonomics

Banks has been here for a long time, the only thing or the possibility that might happen is that they will create their own cryptocurrency and spread it to people like paper money, just like what they are doing to newly designed printed money. If they won't join the club them maybe in a few more years they will be forgotten by the masses, not because they are not necessary but because they are left out in the revolution just like the nokia pHone back in the days.
They wont really tend to join up the club because they do really have their own view and perspective when it comes on making digital currencies rather than on accepting cryptos. They do know the risk and the possible situation would happen into their area of vicinity if they would decide to adopt cryptos. They dont like decentralized things frankly and clearly speaking thats why they would really make on their own which is centralized.

In my opinion sir, it's not a matter of what is your own view, it is a matter of perspective of the people who will use it. If you are a single individual you can stand for what you believe but these kind of systems refers to billions of people around the globe. They cant stop people from opening their eyes into these things or forced shut off all the crypto users? Bad idea because as we can see decentralized applications are on its way and later on the staffs of the banks will also use the decentralized apps and software. They have power, yes and they can implement things because they are the bigger and they have a lot of authority, they will deny this technology but not for long.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: superjeyy on January 06, 2018, 09:26:20 AM
If cryptocurrencies takes over the world and overpowers fiat, the banks would definitely think of something innovative to accomodate cryptocurrency just not to go out of business. As someone who wants to keep their business in the industry, they would definitely have to establish something just to stay on the industry. I guess banks would start accepting Bitcoins as well but they have to make the storage of Bitcoin worthwhile as Bitcoin on wallets alone can multiply its value. A good deal a bank can do is to allow Bitcoin growth at higher rates and lessen the transaction fees for everyone. What the next move of the bank depends on their strategies but they have to do a lot to make people trust their services when it come to cryptocurrencies.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Ararbermas on January 06, 2018, 10:16:50 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
i think the bank will remain in the future for some reason,  maybe such as they will accept crypto currency if that time happen . But i believe this is not gonna happen ,even though the valued of crypto currency so expensive than fiat cause either country always declined and didn't accept this currency because alot of reasons. Its a miracle in future if it will happen.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: TERA2 on January 06, 2018, 10:18:33 AM
they will adopt crypto, become dealers, release shitty derivatives, and release fake coins, and claw back their business using the trust the 99% of people already have in banks and the media. If that doesnt work then they will get the politicians they control to ban crypto.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Drixy on January 06, 2018, 10:27:29 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
I doubt it wont happen. Banks more safer than crypto's. Not everyone knows how crypto's work not all have that mind to understand everything many will be confused but if its the trend it will gradually be used but not totally in crypto's.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: ActiveWizard77 on January 06, 2018, 10:29:16 AM
There are two things that could happen, it is either the bank will make a way to stop the use of bitcoin. Or, banks will adopt the use of bitcoin and start to accepts payments and exchanges thru bitcoin.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Hui8 on January 06, 2018, 10:31:58 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
The thing is crypto currencies are getting their power from the fiat currency only. You go to market and buy the crypto currency with your bank which is nothing but usual shopping. The fiat will always be there or should always be there because that is what giving the crypto market a real value. We have fiat with fixed value and thatís why we have value to fiat. :-)


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: TERA2 on January 06, 2018, 10:32:09 AM
The banks could act as wallet services to hold people's crypto and then use the account value to print more fiat.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: zarados on January 06, 2018, 10:38:18 AM
Remember, cryptocurrency is only a protocol that serves to help transactions. You still need a bank or something to exchange the cryptocurrency with real money. Unless cryptocurrency has been used as the official currency and replaced the dollar for example. You'll see the price tags in the malls no longer show the $ price, but in the form of cryptocurrency.When that happens, I think the bank has turned into a cryptocurrency bank.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: budz0425 on January 06, 2018, 10:42:22 AM
The banks could act as wallet services to hold people's crypto and then use the account value to print more fiat.
I think that when people has choose bitcoin over fiat, before that time could happen national banks and the government already adapt bitcoin as part of our society. Meaning to say, that's why people were already using cyrpto because government also allows it to happen unlike today that we most often bitcoin was use for investment.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: darkangel11 on January 06, 2018, 10:13:36 PM
Cryptocurrencies still don't resolve the issue of taking loans.

It's not an issue at all. Taking out loans does stimulate the economy, but at the same time it's an aspect of this system and economy that's all based on debt. What happens if you take out a fiat loan and you default on that loan for whatever reason? Right, you'll get marked for life as someone not having fulfilled your duty, which as per this system, will only work against you. In severe cases you can't sign up for a bank account, can't gain access to certain beneficial support that others in problems can get access to, etc. Bitcoin is the exact opposite of that. Regardless of who you are, you'll always be able to make and take payments, and no one can stop you.

If you had collateral that covers the debt and you are free to take payments and do whatever you like. If you had no collateral, the greedy bank has to take consequences and possibly never be able to get their money back.
Bitcoin loans aren't much different from normal bank loans in the way that they work. What you've pointed out as the main difference doesn't actually change that much beside the fact that the lender will now require collateral from yo, or for the loan to be cosigned by someone who can provide it. It will make things more difficult for the lender and also make him more vulnerable and we can all agree that we won't be able to function without loans. Crowdfunding is great, but it will never be enough.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: kimochidesh on January 06, 2018, 10:28:38 PM
First of all, Banks try to attract new customers towards them by offering them some amazing offers, but if it does not work then Banks will cut down their expenses by closing some branches and firing some employees, shut down some branches So that they could remain in profit.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: exstasie on January 06, 2018, 11:24:42 PM
The banks could act as wallet services to hold people's crypto and then use the account value to print more fiat.

That's exactly what they'll do. I don't understand all these bitcoiners who think Bitcoin will crush commercial banking. I believe that the vast majority of people still won't understand Bitcoin in 10 or 20 years. Just like today, most newcomers (if not most people) will depend on centralized banking/wallet and exchange services. Commercial banks (like Bank of America or HSBC or JP Morgan) can paint themselves as the deposit banks you've always trusted. Meanwhile, they'll use your holdings to profit, as they've always done.

they will adopt crypto, become dealers, release shitty derivatives, and release fake coins, and claw back their business using the trust the 99% of people already have in banks and the media. If that doesnt work then they will get the politicians they control to ban crypto.

What I'm really interested in--What happens when we get to the "If that doesnt work" part? People aren't prepared for the hammer to come down on crypto, but IMO it's always a possibility.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Fretcy on January 07, 2018, 08:08:06 AM
There are more likely chances for the people to use crypto currencies than fiat currencies in the near future as more and more user's are entering the crypto market and they consider the crypto technology more useful than fiat currencies and more merchants and shops are accepting this technology in such a condition bank will be working only in exchange of local currency of the country and people will be depending on cryptos for all other financial dealings in such a situation the banks will have to stop lending as everything is available in the crypto market.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: matanglawin on January 07, 2018, 08:23:31 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
Nothing that much. It is jist that there'll be only less users of banks. Banks will continue functioning as long as there are people who are using it so even if people will be more into cryptos they can't do anuthing about it. The problem will only reflect to the government since in crypto, they won't be able to tax the transactions for cryptos are decentralized.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: wuvdoll on January 09, 2018, 02:23:50 PM

This question has been asked many times in the forum and my answer to it seems to be intact .
Bitcoin will not halt the banks of the world . Bitcoin is still a virtual object and  there is still need to convert it into our own fiat for its use for us . No country is ever going to dump their fiat and accept bitcoin in its place . Both the currencies will work simultaneously and so the banks will never be affected by it . There will be some level of updates in the functioning of banks due to introduction of bitcoin , but that would not totally change their systems .             
I do not even see how the dumping of fiat like you said for cryptocurrency would be something that we will ever see.

Yeah, cryptos will become widely used at a good point, but that would still be limited somehow as we know some people will not even have access to it and some would prefer to go the fiat way. However, no one knows the future as anything can happen, but I feel banksí being totally discarded for crypto is something that would be very hard to see.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: CHENIEN on January 09, 2018, 02:44:49 PM
It can cause lesser people made transactions in banks. Particularly, cryptocurrencies are more easier to access by using directly hand gadgets. If that will happen, some banks have a lesser transaction and income. In cryptocurrencies, we can made immediate transaction and payments, and it is opposite in banks transaction that before we make transactions we must travel and used enough time to reach locations. In cryptocurrencies, we can access just even at home.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Blue2012 on January 09, 2018, 03:15:53 PM
Well if people uses cryptocurrencies, I think bank will make way how to adapt in the situation. But I also think that there are still people that will use fiat so banks will still exist and will continue to operate but not as many as what we have today.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: BrewMaster on January 09, 2018, 03:27:05 PM
i do believe that fiat and the centralized form of currency will never go away. even if bitcoin (or any decentralized cryptocurrency not the centralized altcoins) become more popular and used more often there will still be fiat in some form be used and still be centralized.

that means banks will always be at work.
also don't forget that banks are basically a big business that works with money. they open accounts, give profit on the money you "invest" with them. they give loans and do a lot of things and offer lots of services like credit cards. these don't go anywhere.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Fedrey on January 09, 2018, 05:10:43 PM
i do believe that fiat and the centralized form of currency will never go away. even if bitcoin (or any decentralized cryptocurrency not the centralized altcoins) become more popular and used more often there will still be fiat in some form be used and still be centralized.

that means banks will always be at work.
also don't forget that banks are basically a big business that works with money. they open accounts, give profit on the money you "invest" with them. they give loans and do a lot of things and offer lots of services like credit cards. these don't go anywhere.
you pay attention. What difficulties do Bitcoin users face today? And you will understand that with such problems it is not so easy to correct. Today, the Bitcoin transaction has been going on for several days and it will create huge problems for a common person. But not only in this I see the immunity of the crypto currency in society. In other words, I want to say that the Crypto currency is a currency for a certain Circle of people, and not for the whole world.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: gentlemand on January 09, 2018, 05:20:43 PM
Your average person doesn't have the gumption or skills to keep their crypto safe. It's still alarming to use even if you're well versed in it.

The only way crypto could ever start to reach fiat usage levels would be with bank involvement. For better or worse most want a third party to hold their hand.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: cybersofts on January 09, 2018, 05:45:46 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
I think the banks must find the way to coupe with the latest blockchain technology to keep running their business because without implementing blockchain in to their monetary system and supply or they would be left behind. Surely, people will massively adopt the cryptocurrencies over time.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Crypto Lion on January 09, 2018, 05:54:18 PM
It's either sink or swim for them.

Banks that won't last will continue to make laws and regulations trying to stop cryptocurrencies from being used. But it's already too late for that. So the banks that are unable to adapt will potentially die out in 2020. The banks that adapt and change will become more decentralized and have less issues with transactions and could gain alot of money if they were to just ride the crypto wave.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: reymartH on January 10, 2018, 12:34:41 AM
Banks will stop to operate. Also at the highest level, governments will be hit hard, as they will no longer exercise the same level of control over the countryís currency.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Baoo on January 10, 2018, 02:25:03 PM
Actually, If many people will use cryptocurrencies that would be a major loss for all banks and after that there will be a crisis in the global economy, also this affects negatively to many countries and there will be big problems in different domains.

Furthermore, If many countries cannot smashing all cryptocurrencies, in case that this crisis will achieved than many governments will recognize all cryptocurrencies and become legal, and for me there is a great possibility that this will be achieved in the future.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: TOTOARRO on January 10, 2018, 03:56:57 PM
they would ether be able to adjust to it or close their bank on the grounds that for beyond any doubt it would influence them to endure a colossal misfortune. likewise they could exist together with cryptographic forms of money to make trade more less demanding. hopefully they will simply acknowledge bitcoin and different digital forms of money.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Nissan-GTR on January 10, 2018, 04:07:37 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

Well it depends, of course its good because they are in line with what is in nowadays, massive people were already know Bitcoin, just put their name after it will be a huge impact not loteral but adaptation kf the system may be helpful but in some things this will be prohibited by the government which is because of rapid dump of profit.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Mister1k on January 10, 2018, 04:18:23 PM
Your average person doesn't have the gumption or skills to keep their crypto safe. It's still alarming to use even if you're well versed in it.

The only way crypto could ever start to reach fiat usage levels would be with bank involvement. For better or worse most want a third party to hold their hand.

They already tried to initiated their ICO project around here. I do not think that project has been completed or not. You may hear about the Citi bank new york announced the information like they gonna create their own altcoin called citicoin in the mid year of 2017 and recently axis bank team also started their ICO project so wait for some time see according to your expectation. Banks are opponent to the cryptos is the actual truth.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: fulmetal08larz on January 10, 2018, 06:12:30 PM
If ever the cryptocurrency has been adapted by the people in this digital age we are now, the banks will have no other choice but to accept and embrace it. Surely, the blockchain technology will serve its purpose and the world economy will boost.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: newinbtc on January 10, 2018, 06:41:00 PM
first of all people see cryptocurrency as the investment way not as the payment gateway . once people understand the benifits of this currency then Banks Will cry and they will in loss. if all big bussiness person start sending funds through crypto then Banks need to face loss and Thats why in some country's they are banning bitcoin


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: raven7886 on January 10, 2018, 06:59:52 PM
Sudden (yet expected) surge in the ripple shows that Banks are fascinated with this technology and they are eager to use it to optimize their current time consuming traditional infrastructure. However, there is no reason to worry as decentralisation is not going anywhere and still we will see the fiat currencies on the blockchain. There will be the people who will still use the fiat currencies irrespective of the technological advancements.
I still feel the surge in ripple was a manipulation and nothing else. If banks really want to go crypto they would rather start fresh than using an established coin.

Everything has gone cashless anyway, so at the end I feel banks will end up starting introducing gradually their currencies using the blockchain technology. However, paper will somehow still be useful in some countries where there is limited infrastructure, most especially internet.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: doomloop on January 10, 2018, 07:04:44 PM
I think banks are not worried at all because it's like a traditions banks used by our ancestors for century and not all the people know the existence of bitcoin or any other crypto currencies and besides fiat is much prefer to used by other basically for our daily needs because the benefit we get on crypto we tend to convert it in our local currencies.
Yes history of banks is older than bitcoin and people who are not interested in new technologies prefer use banks instead of putting money in bitcoin and this is because 50% of our people are not aware of bitcoin. New generation are very skillful people and they knows how to relaxing the life because bitcoin has made life easy and safe, no one can take or use your money without your permission and no one can steal it form you just because of bitcoin wallet but banks are easy to robe and you will lose all of your money.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: bitbunnny on January 10, 2018, 07:18:10 PM
Let's be serious, that it's impossibe. This society is still depending on banks and traditional financial system.
According to some researches about 2 millions of people are using cryptocurrencies. Comparing to overal number of inhabitants in the world this is not significant number so they can't endanger banks and their existance.
But the purpose of Bitcoin isn't to fully replace fiat currencies.
It will happen sooner that banks will accept Bitcoin than be replaced by it.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: yoseph on January 10, 2018, 07:36:58 PM
What OP is talking about is actually the nightmare of every banking institutions in the entire world and know that more and more people are getting to know bitcoins, it seems that it is going to be a reality soon enough, am sure they see the future no wonder they are so against bitcoins and the other cryptos.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: danherbias07 on January 10, 2018, 07:54:04 PM
It is either they will adapt or they will forcefully finish the blockchain that they want to create.
Or the evil side is pay the government to ban the crypto currency in one country. They have the money to do that if they will be team playing.  ;D

But we dont even know if that could really happen.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: louie69 on January 10, 2018, 11:24:01 PM
It is either they will adapt or they will forcefully finish the blockchain that they want to create.
Or the evil side is pay the government to ban the crypto currency in one country. They have the money to do that if they will be team playing.  ;D

But we dont even know if that could really happen.

There maybe a slight effect on the banks if people will use more on the cryptocurrencies more than the flat money probably because business transactions like money transfer wherein banks cannot longer get paid for their bank charges while in bitcoin transactions, there is no fee required. In the near future, maybe banks will adapt bitcoin since its dominance is now increasing.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: juragane on January 11, 2018, 03:05:34 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

then banks will be destroyed and loss because their customers will make a huge withdrawal of money, the solution is that banks must be able to work together with bitcoin technology so they are not removed from the circulation of the world economy.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: ljm8888 on January 11, 2018, 03:10:04 AM
The bank will ask the government to launch a war! The real money is issued by the government's credit. And digital money depends on the Internet. No country can stop the Internet. I hope that what you say will not happen. Digital money is still a little far away from people's lives. Although I am optimistic about digital money, I admit that there is still a long way to go.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Nhebu on January 11, 2018, 03:55:04 AM
The banks will not operate and some of the investors may pull their money. Therefore it will lead to bankruptcy. I think that is happening as of now but I hope the issue of that will not make a war between banks and crypto enthusiast.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: bots1 on January 11, 2018, 04:45:11 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

it is likely that the bank will step down, but the bank will still be used to disburse the profit from playing cryptocurrency and banks should be able to accept cryptocurrency so they can grow.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: goaldigger on January 11, 2018, 04:51:15 AM
I think banks can now adopt on cryptocurrencies. They will use them in their transactions ang probably have an improved system. I think there were more cards than physical wallets.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Usafstar on January 11, 2018, 07:03:53 AM
the banks are doing good for the world that they provide loan opportunities to the needy people and they also keep the people money and gold in lockers they have providing big amounts of loan to the industries and other countries as well. so the importance of crypto currency can't be ignored but the banks are are also providing facility to the financial system of the country.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: alisafidel58 on January 11, 2018, 07:43:22 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

Before it would happen banks will surely have some sort of precautionary measure that they will be taking against crypto currency in order for them to not be left behind.

If that scenario would happen, then banks would adopt the technology behind blockchain or its network in order to compete with the crypto currency.
It would make their system more viable to lessen the hassle of doing transaction if your going overseas and wanting to withdraw or spend more money.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: kaysersoze on January 11, 2018, 08:01:32 AM
Banks will never disappear, if that is the real purpose of why you are asking this question. So i do not think that there is a way in that cryptos could replace banks, but yes, maybe they will try to adapt to the new technologies if that is really happening at some point.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: nl247 on January 11, 2018, 08:18:40 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
It depends! Firstly, Banks will adapt and then most countries will have their national currency in crypto which obviously will make banks still function in mostly other areas most especially in the area of loans, and other governmental related stuffs. Deposits, withdrawals and other functions will end up being scrapped, so at the end, we will end up having some staff laid off, and bank functions reducing.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: dejan_p on January 11, 2018, 09:28:40 AM
2018 should be a fun year to see what will happen
banks, countries, regulators will for surely dip their hands in crypto, either adopting them or fighting against them, they're not just gonna stand and watch

regarding the fiatless society, I think it would require another 10 years min


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: gunungkembar on January 11, 2018, 09:39:22 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

banks are likely to lose some customers because they prefer to keep their assets to cryptocurrencies that are safer and can grow a lot and maybe some banks will close.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: janah on January 11, 2018, 09:41:56 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
No one knows what will happen in this year 2018 because bitcoin is unpredictable and bitcoin can affect banks if the bitcoin performance is good because it has too much percentage that bitcoin can be more profitable than banks.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: alani123 on January 11, 2018, 09:43:04 AM
I don't think that banks would ever go away, at least not throughout our lifetimes. A big portion of the current system is based on banks, most of finance is done through banking, plus m2 and m3 wouldn't exist without banking. Capitalism as we know it is based on banking. The removal of the gold standard brought growth to developed countries and banking played a central role in that. Some things won't easily turn back. I think that our generation will just see crypto co-existing with conventional banking.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Xclusive5 on January 11, 2018, 09:14:27 PM
Since the inception of bitcoin in 2009 all the banks knew that the arrival of cryptocurrency is an impending doom for the bank. Cryptocurrency is an enemy of the banks.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: rickadone on January 12, 2018, 08:21:27 PM
Banks will still exist even though in the future cryptocurrencies will be use more than fiat. First, when that happens bitcoin was surely adapted by most countries and banks were already accepting bitcoin just like international currencies. Second, it will take decade before that happens.
So far, commercial banks are not very enthusiastic about existing digital currencies. Electronic payments are already displace cash and banks are aware of the danger of losing business if their clients decide to switch to cryptocurrency.
Banks are so much aware of that and I am sure this is one reason a lot of them see it as a threat and are trying as much as possible to see how they can let people keep seeing the bad side of it than the good side. Nevertheless, even if this is meant to happen at all, it would take some years and some wars to even be able to see this in play and I am sure banks will still try as much as possible to see how they can stay relevant.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: richardsNY on January 12, 2018, 09:04:29 PM
Since the inception of bitcoin in 2009 all the banks knew that the arrival of cryptocurrency is an impending doom for the bank. Cryptocurrency is an enemy of the banks.

It potentially could be, but it doesn't have to be. If banks are smart, and they are getting there with Bitcoin, they will end up offering all kinds of services related to Bitcoin and other cryptos in the future. It's all about how much money they can end up generating with this market, and in a soon to become trillion dollar market, the possibilities are endless. Especially so because of how undeveloped this market still is, and how small it is, which directly shows how much potential growth we can obtain in the future. It's all up to the banks themselves, but looking at how certain wall street banks are showing their interest, it for me is a sign that more banks will follow in the coming years.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: aardvark15 on January 12, 2018, 09:16:35 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

Banks will always be around as long as fiat currencies are around. But there will be changes as Bitcoin becomes more mainstream. I think banks will need to change how they do business to adapt to this new technology.

Some banks will fail while new banks will pop up that cater to the needs of cryptocurrency investors. Banking as we know it is going to have to evolve.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Kevin77 on January 13, 2018, 03:45:14 AM
Banks will still exist even though in the future cryptocurrencies will be use more than fiat. First, when that happens bitcoin was surely adapted by most countries and banks were already accepting bitcoin just like international currencies. Second, it will take decade before that happens.
Yes, there is absolutely nothing that is going to happen to the banks and they are still going to be there one way or the other. We are talking about people using cryptocurrency and not everyone on earth using cryptocurrency which we all know it is impossible for that to happen, most especially in some places and just like you said seeing a very high level of adaptation will take some number of years.

In a decade or two, this will be definitely happening and what happened to traditional mailing system when email was introduced, same will happen to fiats. Yes, fiats will vanish themselves.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: yamortsac on January 13, 2018, 03:58:53 AM
I think if people use crypto currencies more than fiat, banks will still exist offering other services and they will also use and accept bitcoins. Banks will think of ways how to adapt with the current situation in order to survive in the business. Maybe banks will offer loans using bitcoin and other crypto currencies.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Hy1085 on January 13, 2018, 04:03:38 AM
Bank will not exist if crypto does its job. it might take a long while, letting crypto replace fiat currency.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Chyton on January 13, 2018, 04:16:22 AM
Well easy, the banks will either suspend all accounts related to the cryptocurrencies or the bank will try to accumulate as much crypto as possible and manipulate the price to gain profit. Bank is greedy.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Greenkarki on January 15, 2018, 12:50:26 AM
Banks will still exist even though in the future cryptocurrencies will be use more than fiat. First, when that happens bitcoin was surely adapted by most countries and banks were already accepting bitcoin just like international currencies. Second, it will take decade before that happens.
So far, commercial banks are not very enthusiastic about existing digital currencies. Electronic payments are already displace cash and banks are aware of the danger of losing business if their clients decide to switch to cryptocurrency.
Banks are so much aware of that and I am sure this is one reason a lot of them see it as a threat and are trying as much as possible to see how they can let people keep seeing the bad side of it than the good side. Nevertheless, even if this is meant to happen at all, it would take some years and some wars to even be able to see this in play and I am sure banks will still try as much as possible to see how they can stay relevant.

Yes. Banks as well as the govements see cryto currencies may take over fiat's enconomy. This is the reason governments bans bitcoin in their countries are announces as bitcoin is illegal in their respective countires. We can see few private banks creating its own crypto currencies recently trying to capturing its market here in this forum. Indirectly, government is encouraging even a private limited to create a new crypto currencies.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: mx667 on January 15, 2018, 01:42:40 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
Banks and governments have no choice but to borrow and implement the blockchain technology because there is a shift in the world of technology today. Very soon governments and banks are going to start creating their virtual currencies and assets. I recently read the news that Venezuelan government will launch their official coin called "Petro" it would be used for buying petroleum in the crude oil market. As time goes on you'll see the number of countries launching their virtual currencies.
People will rarely pay taxes. Because if we trade using Bitcoin and cryptocurrency, we will not have to pay taxes to buy a good. We can still pay taxes, but we have to pay them directly to the government in certain countries. We know that if the money transfer from the bank, there are various limitations contained in the system. For example, like the transfer limit on the amount of money, the transfer limit done at certain hours, and if we do transactions in large amounts of money, we will surely be suspected and questioned. In contrast to Bitcoin and cryptocurrency who have no restrictions whatsoever.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: abdmuiz on January 15, 2018, 01:44:23 AM
in fact the kiripto (ftp://kiripto) money has a pretty good potential so all authority should look at it


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: MoonsGravity on January 15, 2018, 09:13:19 AM
I don't see that happening, having tried to get so many people into Bitcoin, they refuse, even when I've made them money, they don't think it's real.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Nhobita on January 15, 2018, 09:19:52 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
We are still not that sure of what will be happening in the future because we are still relying into the present scenario and we are all still just making assumptions and wild guess of what will happen in the future. But I think, as the situation continues of the rise in cryptocurrency usage, I think banks will still the same as it is since people are still needing to have their physical money for much more assurance since Bitcoin and altcoins are built online so there will be still risks associated on it and having a partition in having physical money and virtual money will be a best way to secure your money.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Freddyclose on January 15, 2018, 09:22:59 AM
Many banks would go bankrupt, the smaller ones, and it would diminish their roles in our society, it would be a nice victory for the people


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: greatfariola on January 15, 2018, 09:24:27 AM
I think the majority of bank earnings are from loans, so while people not saving money in banks could hurt them a bit, banks will still profit as long as people make loans.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: setupbounds on January 15, 2018, 11:16:24 AM
Well if people uses cryptocurrencies, I think bank will make way how to adapt in the situation. But I also think that there are still people that will use fiat so banks will still exist and will continue to operate but not as many as what we have today.
Use of crypto currencies especially bitcoin will bring revolution in the world and I think bitcoin has gained so high level that its currency mode will be activated soon and in short banks will meet their end soon because as the bitcoin currency system get started no one will go for the banks and people will invest all the flat into bitcoin and that time will be very awesome and bitcoin profit will increase at that time as well.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: adiksau0414 on January 15, 2018, 11:24:14 AM
It will still exist. Maybe the cryptocurrencies today are having a big break and a new trend in the market, but not all people are comfortable in saving their money online ( maybe because they are aware of online hacking). Some people would withdraw their money (come from their cryptos) and save it to their prefer bank. I, myself is doing it, even tbough i am using bitcoins in some transaction, but most of my saving should be hidden in a safer place like banks.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Wintersoldier on January 15, 2018, 11:45:07 AM
If that ends up happening, it wonít happen overnight, so they will make some changes to try to adapt to the new situation but whether they will succeed is another story. They are already implementing changes, with fewer branches, fewer employees and more features for clients to make their operations online.

I think in the future, bitcoin and some other cryptos will co-exist with fiat currencies, so banks will have a place but I think their importance will be reduced.

No one really knows what will happen if cryptocurrecies over power the normal currency, But what is most probably true, banks will find ways to stay in the market, They are considered as powerful institutions, so they can manage to adopt if drastic changes in the market scene happens. Who knows, they are now starting to make research and studies on bitcoin adoption for the future.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: vegethegreat on January 15, 2018, 12:52:54 PM
I dont think that bank will let this thing to happen. They are credible institutions that its not easy abolished. They will find ways to stay in market and its possible that they might adopt cryptocurrecncy as well.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: 0t3p0t on January 15, 2018, 01:15:59 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
The same as usual because we all know that cryptocurrency are unstable so to fill that gap we need fiat money which is stable. Majority of the people living on earth knows nothing about cryptocurrency and I don't think if they can adopt that easily since they were afraid of cryptos as well. ;D FUD in the social media and in some communities makes these people out of the system so they prefer to use fiat currency. Central banks don't want that to happen that is why they are making ways to let people stay away from cryptocurrency or they might use their power to lift a ban on crypto's in a specific country. But if ever that will happen I think it will stay the same since not all transactions can be dealt with crypto's that's why fiat money will still in use.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: JerryJam on January 15, 2018, 01:28:34 PM
Banks are not going anywhere. Maybe they will decrease the amount of work. Making transactions in the cryptocurrency takes a percentage of the transaction. Somebody thought what happens to this percentage. This percentage is given to the middleman i.e. the Bank If we were to convert bitcoin to another currency you need a Bank card. The system of the blockchain will seek to undermine the banking interests and the elimination of intermediaries. The digitization of capital can lead to the creation of a new system cheaper transaction between the seller and the buyer.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: mOgliE on January 15, 2018, 01:31:44 PM
Hi,

That's the whole point of cryptos! Well, maybe not only, but clearly, getting rid of banks is part of the plan.

What do you fear? Do you truly believe that banks are helping? They are making money out of money, using the accounts of millions of individuals to make profits, still charging said individual when it is a complete nonesense! When you pay your banking fees, do you really feel that you are paying for something real?

So yeah, let's get rid of banks! ;)


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: penig on January 15, 2018, 01:33:47 PM
Hi,

That's the whole point of cryptos! Well, maybe not only, but clearly, getting rid of banks is part of the plan.

What do you fear? Do you truly believe that banks are helping? They are making money out of money, using the accounts of millions of individuals to make profits, still charging said individual when it is a complete nonesense! When you pay your banking fees, do you really feel that you are paying for something real?

So yeah, let's get rid of banks! ;)

So who'll lend money and fund large capital infrastructure investment? 


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Crypt0dummy on January 15, 2018, 01:34:26 PM
I agree. Banks will stay. They'll probably find a way to adapt to blockchain technologies and cryptocurrencies and will be using them on their daily basis.

I don't thinks banks will go anywhere.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Prettyme on January 15, 2018, 01:39:48 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

If this would be possible I think banks would continue to destroy bitcoin. But they has an option I think they will upgrade their banks wherein they can meet the needs of today's situation just like making a bank for cryptocurrencies. We must not shock to the changes because as they said our world is dynamic therefore bank should think what they need to do if this would be possible.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Xzhyte on January 15, 2018, 02:09:56 PM
Due to the mass adoptation of cryptocurrency, the banks or the government would try to stop or ban it from their country. Some banks may build their own system that would allow cryptocurency as mode or transaction. I think, its a good thing ig banks would be able to accept crypto and fiats at the same time.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: natka on January 15, 2018, 02:23:24 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
  People get used to everything. Until recently, I generally thought that bitcoin is something supernatural. To date, I'm absolutely normal in responding to bitcoin. So in the future if you have to cryptically replace the banking system, people will get used to and calm down.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: nightxglow on January 15, 2018, 02:26:24 PM
If that happen, then real money won't be used as much as it is now. People tend to use cryptocurrency instead, and maybe change all their money to coins.
Bank will be short of money. It won't fullfil the minimum reserve cash, it'll be hard for bank to make use of the money, like giving credits, or such since people don't like to save their money there too.
Then i think it will be the end of the banks soon, since it lose its function already.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: paul00 on January 16, 2018, 09:23:19 PM
If it happen that cryptocurrencies will be used more by the people rather than the fiat money, I think banks will be just like how they operate nowadays since the use of bitcoin as mode of payment is like using credit/debit card as well. Also, banks will surely make a way on how they can merge their opearation with bitcoin.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Tenderino on January 16, 2018, 09:33:31 PM
Very unlikely that banks will let become cryptocurrencies the basic mode of exchange in the future and they will of course try to attack it the more famous it will become. You have also to realize that the $800 billion crypto market cap is nothing compared to the countless trillions fiat money.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: llyfee4u on January 16, 2018, 09:44:17 PM
I think itís a matter of when, not if.  Crypto is the currency of future because fiat will fail at some.  Like many have said, banks will probabaly resist as much as they can but you better believe that banks already have contingency plans on how and when to adopt crypto.  Banks and their shareholders love money, whether itís fiat or crypto, it doesnít matter much to them.  The only reason why they are resisting and will continue to appear so is to buy time to figure out how to take control of crypto space. 


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: roxbit on February 10, 2018, 09:07:49 AM
I think itís a matter of when, not if.  Crypto is the currency of future because fiat will fail at some.  Like many have said, banks will probabaly resist as much as they can but you better believe that banks already have contingency plans on how and when to adopt crypto.  Banks and their shareholders love money, whether itís fiat or crypto, it doesnít matter much to them.  The only reason why they are resisting and will continue to appear so is to buy time to figure out how to take control of crypto space. 

Different banks in different countries have different issues on bitcoin as a digital currency. Off course, they want to regulate currencies to avoid money laundering and any form of crime.The guardians of the global economy have two sets of issues to address. First is what to do, if anything, about the growth of the private cryptocurrencies that are grabbing more and more attention for a host of reasons: security concerns after a $500 million exchange hack in Japan, volatile price moves and in the case of Bitcoin, at least their introduction on regulated derivatives exchanges. The second question is whether to issue official versions. While The European Central Bank has repeatedly warned about the dangers of investing in digital currencies. Basically fiat against  digital currency they wouldnít want digital currency to become a preferred currency of the people around the globe if that happened in the future all banking institution will die.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Nerman on February 10, 2018, 09:14:02 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

What will happen?I would say... nothing.The banks will adopt blockchain technology and start using  and accepting cryptocurrencies.Unfortunately we still need banks,because we need institutions that accumulate deposits and give loans to eligible business owners and ordinary people.We still can`t automate this process.
Perhaps in the future,we could create a smart contract based system that will work as a crypto bank.

 I agree, if you cant beat them join them. I think this will be the strategy of banks. With their money most likely they will develop their own coins.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Dainye_dyep on February 10, 2018, 09:21:21 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
Actually, nobody knows what will happen to banks if people will tend to use cryptocurrencies rather than fiats but more probably, I think banks will just do adaptation in which they will offer to accept cryptocurrency exchanges or services such as storing or making themselves to be an outlet for purchasing cryptocurrency coins since people tend to buy crypto coins every single time and for sure there will be people who will still tend to do exchange or convert their cryptocurrencies into cash and that will be a great service that banks can do since they are basing their services into fiat or simply cash.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: torch2121 on February 10, 2018, 09:29:21 AM
For me what I see is a big competition will happen between cryptocurrency and fiat. We are going to see a lot of promos and added services for bank to patronize fiat.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Sendibere on February 10, 2018, 09:32:57 AM
The cryptocurrency is growing so fast. A cryptocurrency is a form of payment which is similar to the currencies commonly used such as United States Dollar or the British Pound. It is decentralized. No central government to print more of them out to cause inflation. In fact, cryptocurrencies have been formulated to gradually decrease in production as time goes by.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Capt00 on February 10, 2018, 09:54:51 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
Obviously it will affect banks economical stability cause it will lessen the number of clients which normally make them transactions. But this thing may won't totally make banks to disappear.  It could be the best thing to do is to change their system by adding or accepting cryptocurrencies as another mode of payment aside from fiat.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: virasisog on February 10, 2018, 11:00:52 AM
The cryptocurrency is growing so fast. A cryptocurrency is a form of payment which is similar to the currencies commonly used such as United States Dollar or the British Pound. It is decentralized. No central government to print more of them out to cause inflation. In fact, cryptocurrencies have been formulated to gradually decrease in production as time goes by.
I get it but where is the banks or what will happen to them? Even they can't print bitcoins they will going to build bank using blockchains instead of money it is digital money like some of the ICO's recently that they are going to build it. What i see is banks will go over bitcoins some will take advantage on it and some will continue banking but through the blockchain process.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Bobby park on February 10, 2018, 12:59:56 PM
The bank will incorporate cryptocurrency as their new system. I think that if they will not integrate cryptocurrency with them, banks will eliminate soon because people in the future did not need a fiat and banks to store their money. Cryptocurrency will be the reason behind banks crash.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: shikon_shard on February 10, 2018, 01:14:19 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

What will happen?I would say... nothing.The banks will adopt blockchain technology and start using  and accepting cryptocurrencies.Unfortunately we still need banks,because we need institutions that accumulate deposits and give loans to eligible business owners and ordinary people.We still can`t automate this process.
Perhaps in the future,we could create a smart contract based system that will work as a crypto bank.

Hmm. If bitcoin would allow loans....
For example, if u're loan was to be paid for 1year, im guessing you would have to take in to account btc price everyday. If the amount to be paid was based on the loan date's btc price, and because of volatility there's a chance that u can fully pay it for few days or weeks. Somehow. I hope u get me, I'm confused too. XD

I'm thinking about it and it's a bit complicated and u'll thank spreadsheet for being there xD.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: shikon_shard on February 10, 2018, 01:26:30 PM
https://bitcointalk.org/index.php?topic=2914228.0

There's a chance banks wouldn't be completely against cryptos
The link above. Austrailan banks allowing costumers to purchase crypto.
As btc rises to fame, some banks manage to find use for it rather than criticizing it.

Note: that's how it would be if the news about australian banks are true


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: jovs on February 10, 2018, 01:38:17 PM
If that ends up happening, it wonít happen overnight, so they will make some changes to try to adapt to the new situation but whether they will succeed is another story. They are already implementing changes, with fewer branches, fewer employees and more features for clients to make their operations online.

I think in the future, bitcoin and some other cryptos will co-exist with fiat currencies, so banks will have a place but I think their importance will be reduced.

Since digital money or cryptocurrencies and physical money have some similarities in terms of usage and functions, It is easier for banks to adopt in that revolution you are talking about. Banks may introduce system that is accessible by both fiat and cryptocurrencies. Even though digital money ca not be control totally by banks because of its decentralized property. Expect further studies and regulations from government economist and financial expert because this adoption will certainly affects the economy and major market industries.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Carlsen on February 10, 2018, 01:51:28 PM
I do not think that crypto currencies will ever be used more than the local fiat.
One reason is that a majority of the people will never make the step in the crypto world. To them it seems too risky. So all of their money stays out of crypto currencies.
Another thing is that even everybody who has crypto currencies won't have all his money in that form.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: 1Referee on February 10, 2018, 02:45:06 PM
-snip-
There's a chance banks wouldn't be completely against cryptos
The link above. Austrailan banks allowing costumers to purchase crypto.
As btc rises to fame, some banks manage to find use for it rather than criticizing it.

Note: that's how it would be if the news about australian banks are true

What a nonsense. I think you should open your eyes and actually read the articles spreading these stories. The only thing the banks there are saying is that you are allowed to buy crypto with your money. Meaning, you are allowed to wire money to an exchange, and that's really it. I don't understand why people act like this is something groundbreaking. In other words, the banks there will give you the 'freedom' to do with your money what you want. I never knew this was something worth cheering for? ::) It's another sign that as long as people let their wealth be controlled by financial institutions, that people's financial freedom will be more and more limited.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Apple Mac on February 10, 2018, 02:57:41 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

Probably the banks will stop for a while and sooner will acquire the new system,   cause if they dont do it, they will fall down, one of the factors to make your business successful is to acquire the latest thing in the society, if the latest thing is crypto they should do it.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: gamalzour on February 15, 2018, 05:56:45 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

What will happen?I would say... nothing.The banks will adopt blockchain technology and start using  and accepting cryptocurrencies.Unfortunately we still need banks,because we need institutions that accumulate deposits and give loans to eligible business owners and ordinary people.We still can`t automate this process.
Perhaps in the future,we could create a smart contract based system that will work as a crypto bank.

 I agree, if you cant beat them join them. I think this will be the strategy of banks. With their money most likely they will develop their own coins.
Banks come under the control of the government and till the time government will not be willing to use crypto currencies and to declare them as legal currency, it will not be possible for the banks to go for usage of crypto coins. However in case this thing happens, this will change the dynamics of the world in a very significant manner and the existence of the paper money will be at the stake.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Jessica2009 on February 15, 2018, 08:17:06 AM
   Nothing  will happen to the Banks if people uses crypto currencies more than fiat, because hardly less than 1% of the worlds population uses cryptocurrencies and there are not much shops that accepts Bitcoin payment . If this happens the banks will seek a better options. In order to continue the Banks will adopt blockchain technology and start using and accepting cryptocurrencies. But we need Banks that accumulate deposits and give loans to eligible business owners and ordinary people. Still banks would exist, as money lending loan is the main sources of income.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: francedeni on February 15, 2018, 08:33:48 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

Probably the banks will stop for a while and sooner will acquire the new system,   cause if they dont do it, they will fall down, one of the factors to make your business successful is to acquire the latest thing in the society, if the latest thing is crypto they should do it.
Banks ofcourse will find a solution if people will already use cryptocurrencies than the bank. That's what I can see they will adopts the changes swift into blockchain technology. If they will not do anything they can have a big loses on this matter.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: sserge009 on February 15, 2018, 08:41:01 AM
Banks will have to adapt to new conditions. their system has not been reformed for centuries and they will either have to adopt new rules (decentralization, non-regulation, etc.) or they just dissapear.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Harlot on February 15, 2018, 08:44:42 AM
I do not think that crypto currencies will ever be used more than the local fiat.
One reason is that a majority of the people will never make the step in the crypto world. To them it seems too risky. So all of their money stays out of crypto currencies.
Another thing is that even everybody who has crypto currencies won't have all his money in that form.
I agree as long as Fiat Currency exist Banks won't be threatened to Bitcoin and other cryptocurrencies as their main business will still exist. Additionally almost everyone now knows that banks only serves us our security for our money nobody is expecting to earn from their deposits anymore, people who just want to use banks to keep their money safe will just use banks instead of storing all their fiat currency in a wallet which they themselves will handle. Banks also have other means of earning money and that is lending and offering out loans to people with interest which Bitcoin cannot offer.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: outsider99 on February 15, 2018, 08:53:14 AM
which is clearly the interest of people who invest into banks is reduced if it happens. But some banks have been adopted to XRP which is considered to be the currency of the bank every bank in the world will also do the same.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: owlman on February 15, 2018, 08:53:26 AM
I believe that in the future, crypto-currencies can change the banking system as a whole and the economy of the country. The government of some countries understand this and act pragmo now by regulation or bans.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: bitbunnny on February 15, 2018, 09:10:16 AM
Another question related to banks and crypto.
Rememer that no cryptocurrency, including Bitcoin, don't have the power to replace banks, they will continue to exist.
And when you look at numbers how small percentage of overall number of people everywhere in the world uses Bitcoin and cryptocurrencies you will realize that eliminating banks is mission impossibe.
It's much more likely that in certain stage banks will accept Bitcoin.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: NJB18 on February 15, 2018, 09:14:37 AM
How I wish it will happen asap. But this seems not beneficial to governments, let alone banks so a possible crackdown happens. But if governments will accept decentralized currencies and will just regulate them then there has to be a good way that they can also benefit with it like the imposing of taxes.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Izalcomax on February 15, 2018, 09:18:36 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

i think it will only have a minor impact to the banks, because the goverment will issue some policies to prevent any problems from this


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: marcbitcoins on February 15, 2018, 09:37:17 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

The most likely answer is that the bank will shift to crypto currencies banking business in which thru local paper money to digital currencies. Shifting to crypto will be favorable to them because they are already used to digital system and transactions in which the process on how crypto currencies works.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: YinShuiSiYuan on February 15, 2018, 10:06:05 AM
If there ever is such a situation, it certainly will not be a big deal. Banks will probably adapt to the existing situation and will still find a way to earn money.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: adolf512 on February 15, 2018, 03:46:48 PM
Crypto currency is very popular, and almost all countries of the world pay attention to them and are concerned about the further development of events, but at the moment real money and the banking system are still under control and crypto-currencies will be hard to change.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Kizaki on February 15, 2018, 03:52:24 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

I think if this happens, bank will start on making their way into cryptocurrency. There's no way that bank would just close just because people are starting to use crypto instead on saving their money on banks. Banks would even think of ways to be part of the crypto currency market.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Palmerson on February 15, 2018, 04:00:56 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

I think if this happens, bank will start on making their way into cryptocurrency. There's no way that bank would just close just because people are starting to use crypto instead on saving their money on banks. Banks would even think of ways to be part of the crypto currency market.
I doubt that banks can become members of the crypto market. The banking system is fully established for the use of Fiat. Banks cannot exist in the crypto economy. For this reason, we see resistance on their part. I think that cryptocurrencies will always exist separately from the economy of Fiat and banks.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: The Monkey King on February 15, 2018, 04:10:37 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

I think banks will not be eliminated if cryptocurrency will be embrace as the new basic mode of exchange in the future because bank is still a need for every individuals who take loans for their business. And if ever, it is favorable to have these cryptocurrency while there are still banks because I believe that these banks will also accept these cryptocurrency in the future. Banks will stay as well as bitcoinn as cryptocurrency.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: romecheo on February 15, 2018, 04:37:30 PM
That will happen very soon, every transaction in this world will change to crypto currencies. Time will come that Fiat are no longer necessary in transaction, it will soon end up as last option.

All those bank who haven't any plan to adapt crypto currencies are going to vanish. 


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: budakjawa on February 15, 2018, 05:02:05 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
it is certain that it will trigger a rise in the price of cryptocurrency that the bank uses to replace fiat money and it is certain it will make the development of digital currency growing.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: shield132 on February 15, 2018, 05:44:36 PM
To be fair it's the most logical question which I have read here recently.
Very hard to answer because will that ever happen? Credit cards will be in use in future, there is no doubt but it will be like xapo, bitpay and etc. I think banks won't make it to happen, they prefer fiat because it's not risky for them. I think they will make credit/debit cards for crypto customers and this service will be offered by most banks.
Since bitcoin's value is determined in fiat, I have no idea why will people use crypto more than fiat.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: z38630610 on February 15, 2018, 05:57:53 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

It is simple. They have to keep in step with cryptocurrency. They can update their economical strategy according to cryptoworld. For example in my country one of banks bought bitcoin website that many users invest on that website. It is a kind of update I mean.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Aso at bata on February 15, 2018, 06:46:55 PM
Maybe some bank will be closed,  but some of them will stay maybe they will do something to adapt cryptocurrencies,  and one thing  more we need bank to save some or most of the money that we have ,we can not save at home there are so many bad people.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Nakakapagpabagabag on February 15, 2018, 06:59:55 PM
The bank can accept the crypto currency and they may also go out with their own coins. They can not do anything because they are popular and welcomed. So the money will be useless as well. So they will accept the crypto currency. But of course, it's going to be legalized so long before the people and the government adopt the crypto.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: jhean_arcane on February 15, 2018, 07:15:07 PM
Actually, Ripple is a centralized cryptocurrency and the banks in the future will definitely create something similar so that it can compete effectively with the biggest crypto coins. I believe that the banking system will continue to compete severely with cryptos through adaptation and might create a pseudo-decentralized system. The government is considered the biggest central authority in a society and they cannot function fully unless they have a central dominion generally on everything - including banks.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: djselery on February 15, 2018, 07:19:43 PM
Thats really hard to happen, especially in the nearest future, because most people around the world still using fiat currencies a lot more than using crypto currencies. But if it happen in the future, I think banks will find themselves forced to deal with crypto currencies and to support them.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Kiweikoo on February 16, 2018, 05:48:16 AM
-snip-
There's a chance banks wouldn't be completely against cryptos
The link above. Austrailan banks allowing costumers to purchase crypto.
As btc rises to fame, some banks manage to find use for it rather than criticizing it.

Note: that's how it would be if the news about australian banks are true

What a nonsense. I think you should open your eyes and actually read the articles spreading these stories. The only thing the banks there are saying is that you are allowed to buy crypto with your money. Meaning, you are allowed to wire money to an exchange, and that's really it. I don't understand why people act like this is something groundbreaking. In other words, the banks there will give you the 'freedom' to do with your money what you want. I never knew this was something worth cheering for? ::) It's another sign that as long as people let their wealth be controlled by financial institutions, that people's financial freedom will be more and more limited.
By looking at the increasing fame and support of investors for bitcoin as well as other crypto currencies, banks realized how important it is for them to accept these coins or else they can become an obstacle of their way. Due to this, banks started accepting crypto currencies.

By this move, still the control over public money is in their hands. I personally donít like the idea of digital coins being controlled by financial institutions but I give them this, they are indeed smart.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: mrcash02 on February 16, 2018, 05:58:41 AM
-snip-
There's a chance banks wouldn't be completely against cryptos
The link above. Austrailan banks allowing costumers to purchase crypto.
As btc rises to fame, some banks manage to find use for it rather than criticizing it.

Note: that's how it would be if the news about australian banks are true

What a nonsense. I think you should open your eyes and actually read the articles spreading these stories. The only thing the banks there are saying is that you are allowed to buy crypto with your money. Meaning, you are allowed to wire money to an exchange, and that's really it. I don't understand why people act like this is something groundbreaking. In other words, the banks there will give you the 'freedom' to do with your money what you want. I never knew this was something worth cheering for? ::) It's another sign that as long as people let their wealth be controlled by financial institutions, that people's financial freedom will be more and more limited.
By looking at the increasing fame and support of investors for bitcoin as well as other crypto currencies, banks realized how important it is for them to accept these coins or else they can become an obstacle of their way. Due to this, banks started accepting crypto currencies.

By this move, still the control over public money is in their hands. I personally donít like the idea of digital coins being controlled by financial institutions but I give them this, they are indeed smart.

That is what banks want: To control your money for you... Giving your Bitcoins on the bank's hands, the same happening to fiat will happen to Bitcoins, considering an hypothetical future where they accept it. Banks would make profit with your money, you would receive a little part of it and they would enjoy the rest, somehow like what happens now with saving accounts.

Crypto-Currency is interesting because it's decentralized and gives more freedom to its users, makes no sense to use the same centralized fiat's system for Crypto-Currency, otherwise why are use using digital decentralized currencies?


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: burnchan on February 16, 2018, 06:53:36 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
If that happens , Banks have no choice but to adopt with digital currency. I suppose they will either adopt Bitcoin's system or they will create their own digital currency. Creating their own digital currency would be favorable for them. They have the freedom to create their own system which means they are totally in control of it. So it depends on the people on what specific crypto will they use.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: rickadone on February 16, 2018, 04:40:12 PM
   Nothing  will happen to the Banks if people uses crypto currencies more than fiat, because hardly less than 1% of the worlds population uses cryptocurrencies and there are not much shops that accepts Bitcoin payment . If this happens the banks will seek a better options. In order to continue the Banks will adopt blockchain technology and start using and accepting cryptocurrencies. But we need Banks that accumulate deposits and give loans to eligible business owners and ordinary people. Still banks would exist, as money lending loan is the main sources of income.
That can change from 1% though but the fact remains that 100% of people all over the world cannot be using cryptocurrency and will remain using fiat either because they have no knowledge about cryptocurrency, they are too lazy to know further or they just do not care as long as they just like it physical.

Nevertheless, it is not like most banks are already running cashless policies anyway, so at the end of it all, we will still have some who just prefer going the traditional way.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: super5star on February 17, 2018, 07:20:08 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

I think if this happens, bank will start on making their way into cryptocurrency. There's no way that bank would just close just because people are starting to use crypto instead on saving their money on banks. Banks would even think of ways to be part of the crypto currency market.
I doubt that banks can become members of the crypto market. The banking system is fully established for the use of Fiat. Banks cannot exist in the crypto economy. For this reason, we see resistance on their part. I think that cryptocurrencies will always exist separately from the economy of Fiat and banks.
Banks are now at danger, they think like this. Although bitcoins never cause any danger to banks until they are fully established throughout the world. Like a time come when bitcoins are used throughout the world. There is reducing the market of fiat and bitcoins are taking the charge, when such satiation comes, only then banks would be deciding to either go in favor of bitcoins or they start a war with them.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: gabmen on February 17, 2018, 07:56:05 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

I think if this happens, bank will start on making their way into cryptocurrency. There's no way that bank would just close just because people are starting to use crypto instead on saving their money on banks. Banks would even think of ways to be part of the crypto currency market.
I doubt that banks can become members of the crypto market. The banking system is fully established for the use of Fiat. Banks cannot exist in the crypto economy. For this reason, we see resistance on their part. I think that cryptocurrencies will always exist separately from the economy of Fiat and banks.
Banks are now at danger, they think like this. Although bitcoins never cause any danger to banks until they are fully established throughout the world. Like a time come when bitcoins are used throughout the world. There is reducing the market of fiat and bitcoins are taking the charge, when such satiation comes, only then banks would be deciding to either go in favor of bitcoins or they start a war with them.

Not really in danger. Yet. Lol but banks may have a reason to be concerned if in case people really would shift to crypto in the future. You can see some banks now trying to supress transactions to btc by disallowing credit card usage. Citi even was reported to disable debit card purchases to crypto.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: bitcoinrays on February 17, 2018, 07:58:34 AM
That will happen very soon, every transaction in this world will change to crypto currencies. Time will come that Fiat are no longer necessary in transaction, it will soon end up as last option.

All those bank who haven't any plan to adapt crypto currencies are going to vanish. 
That is impossible, and it wonít happen. Itís not possible for everyone in the world to start using Bitcoin and dump banks, nope itís not. First, there is not enough amount of Bitcoin that will serve for everyone in the world, but thatís not the really the case. I donít know how to explain this, but I will break it down in a way we can understand. First, youíre using a bank, and you decide to switch to Bitcoin and put all your money into it. To do that, you will have to buy Bitcoin from an exchanger, and you will pay that exchanger with your debit or credit card, which means that the money is still going to bank. You see, itís not possible. Bank still controls everything, and they are very important.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Punisherx100 on February 17, 2018, 08:55:07 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

Well, obviously they might experience a decrease in their profit or worse to closed their business. This seems possible for we are in the digital age today and as time goes by, technology becomes part of each individual's life, including those in rural areas. Maybe some business will closed but I am pretty sure that new business will arise.

Therefore, a large possible deficit is only to the old businesses like banks but it brings a chance to the new crypto related  business to sustain the needs of our economy. Maybe it brings negative outcomes to some specific businesses but it was good in general, a  new start for this developing world.

btw, are you a teacher? your name seems familiar.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: el kaka22 on February 20, 2018, 08:00:32 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

Probably the banks will stop for a while and sooner will acquire the new system,   cause if they dont do it, they will fall down, one of the factors to make your business successful is to acquire the latest thing in the society, if the latest thing is crypto they should do it.
Acquire what system ? Highest the banks will do is to find a way to blend in and see how they can benefit from the system.
There is nothing for them to acquire. If government starts regulating the usage of cryptocurrencies, we may start seeing banks having their own exchanges in different part of the world, and that is where they get their benefits from and at the end, the government with their monitoring strategies will still keep being in control.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Rooster101 on February 20, 2018, 08:39:44 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

If you can't lick them, join them. Many banks might adapt to the changes of time, the era of cryptocurrency is already here and the possibility of cashless society or the use of virtual currencies as mode of payment is not far. But big banks might creates their own cryptocurrency or token that they can be easily controlled or manipulated instead of using bitcoin or any other existing altcoins like ripple.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Freddie Aguiluz on February 20, 2018, 10:44:17 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

I think banks will die if this happens. All banks will be on the internet and you will never see an establishments for banks. Today all things are being digitalized, communications and payments are the most common example of it. So it is not impossible for the cash to be extinct one day, all payments and bills will be payed digitaly.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: pallang on February 20, 2018, 12:27:03 PM
Maybe if this will happen banks will be forced to used also internet in their transactions so that they can coop up with the trends but they will still operate.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Kevin77 on February 20, 2018, 12:34:52 PM
-snip-
There's a chance banks wouldn't be completely against cryptos
The link above. Austrailan banks allowing costumers to purchase crypto.
As btc rises to fame, some banks manage to find use for it rather than criticizing it.

Note: that's how it would be if the news about australian banks are true

What a nonsense. I think you should open your eyes and actually read the articles spreading these stories. The only thing the banks there are saying is that you are allowed to buy crypto with your money. Meaning, you are allowed to wire money to an exchange, and that's really it. I don't understand why people act like this is something groundbreaking. In other words, the banks there will give you the 'freedom' to do with your money what you want. I never knew this was something worth cheering for? ::) It's another sign that as long as people let their wealth be controlled by financial institutions, that people's financial freedom will be more and more limited.
Honestly, what is the difference between it to making use of an exchange anyway and it is not like we cannot convert already.

Yes, if the Australian banks have decided to embrace cryptocurrency, it is a step that they are giving you the freedom while they gain a lot from it anyway as well like you have mentioned, but looking at the whole thing, with the government in the whole picture, what difference does it make ?

Taking a look at the global population of the people that would be making use of fiat and not even have access to crypto based on their knowledge or some limitations, then fiats cannot be discarded. However, in the literal sense, obviously the use of cryptocurrency by virtually all the global population renders fiat useless, but we cannot see that happening, can we ? Except in our imaginations.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Nasty23 on February 20, 2018, 12:48:36 PM
Maybe if this will happen banks will be forced to used also internet in their transactions so that they can coop up with the trends but they will still operate.
To get beneficial in the latest trends we need to adopt it even it changes our operations because if we don't change we are become left behind to the modern technology and don't have an enough knowledge on how to use it properly and many people become go to the latest trends on which they know the safest way to store their money and can grow it even you hold it in the cryptocurrency.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: portotoi on February 20, 2018, 12:55:52 PM
Maybe if this will happen banks will be forced to used also internet in their transactions so that they can coop up with the trends but they will still operate.

Maybe that possibly will happen. I know that not all banks will be closed because of the increase of demand of the digital money or what we called crypto currency but instead they will also upgrade it's services and adjust with the demand of crypto users like using online transaction and offering for crypto currency services. 


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: david_019 on February 20, 2018, 01:08:27 PM
There will be a great changes in all banks existing in our time. Surely the traditional kind of transactions will turn into modern way which is influenced by cryptocurrency. This is a good sign at least cryptocurrency becomes the good way of changing every aannoying traditional transaction. Cryptocurrency is forcing the current banks to change everything from them into much better thing that will make every individual satisfied.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: wpc143 on February 21, 2018, 01:57:24 AM
I think many banks will bankrupt if all people uses cryptocurrencies more than fiat but probably they will find another way to continue their business. Or they will go with the flow of bitcoin and invest on it.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Faxmate on February 21, 2018, 05:26:51 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

I think banks will die if this happens. All banks will be on the internet and you will never see an establishments for banks. Today all things are being digitalized, communications and payments are the most common example of it. So it is not impossible for the cash to be extinct one day, all payments and bills will be payed digitaly.
Well it can happen but I think banks will remain the same in future as well for some reasons, but I guess banks will also accept bitcoin, I thing banks will have to accept the value and presence of bitcoin, as it has high value and demand for multi benefits that bitcoin have. As you said banks will be disappear without bitcoin so they will have to make the storage of bitcoin worthwhile. So in short the good deal that banks can do is to allow bitcoin growth at high rates and lessen the transaction fees of bitcoin, what can be the next move of bitcoin can be all about their strategy but they will have to work so hard to make people trust their service as compare to crypto currency.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: oaktree on February 21, 2018, 05:36:26 PM
Banks will adapt. I can see a lot of them becoming online wallet providers. Sort of "hold your cryptocurrency at Bank of America's secure online wallet".

And what's more lots of existing bank account holders will go for that.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Andrej Peiboski on February 21, 2018, 08:15:44 PM
In case of general acceptance of cryptocurrencies, banks will lose a big part of their power, but we'll still need them for a lot of other financial services: for example loans, leasing, certificates, insurances, etc.
We'll see.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: s2sallbygrace on February 21, 2018, 08:39:48 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
bank will lose some of their clients, or worst they will end up into closing their bank due to bankruptcy. Banks together with the government will find ways to not let it happen and not to be affected by the cryptocurrency, for sure they have options and will come up with a better idea for them not to lose their clients.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: queenlaurel on February 21, 2018, 08:41:07 PM
If that should happen, that is bitcoin becomes the basic mode of exchange in the future? Banks will crash literally,  that is if they dont start doing something about it now and people will go out of jobs in the banking sector. Well those individuals could be introduced to bitcoin.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: millenniumcoin on February 21, 2018, 09:10:21 PM
Yes if bitcoin becomes generally accepted in the future, i think it may affect bank drastically and may lead to many of the banks clossing business. This is one of the reasons the banks are not happy and even many governments of the word are going about creating unnecessary news about bitcoin to distract people attention.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Cryptophorus Columbus on February 21, 2018, 10:24:39 PM
I think that banks and governments haven't still completely realized the revolutionary potential of bitcoin.
When they'll understand, they'll start a massive war against cryptocurrencies.
It will be a bloody war, you can bet. But I don't think they can win. We'll see.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: BUK2016 on February 22, 2018, 05:28:28 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
Well Banks will still be in existence because it will be difficult for government to fully adopt crypto currency since they cannot manipulate it's existence as compare to the they manipulate fait currncy through there Central Banks.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: ganlianshifu1 on February 22, 2018, 05:43:14 AM
I don't think it will happen! Many cryptocurrencies are not popular in many countries!

Many people still use fiat money or legal digital money!

In the event of such a situation, the bank's trading profits have been huge shock! Many Banks may issue their own cryptocurrency to meet demand!


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: googs84 on February 22, 2018, 06:17:14 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

I think use of crypto currencies will not vanish the banks or the financial institutions that we see in todayís world. The reason behind this is very simple, we can not really do whole transaction thing without banking attachments as that wouldnít be allowed by them or the government itself. Iím looking at this with regulatory perspective and if you think the same way then you will understand thatís really impossible without banks involved into it. So may be in the future crypto currency will be used on large scale but mostly in collaboration with the banks and other financial institutions thus both the areas will get evolved simultaneously.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Noelbetty12 on February 22, 2018, 06:49:54 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
Will given that nobody will use fiat currency doesn't mean there will be no more banks or they will be closing due to loses. As of now the only legal tender  accepted in my country is fiat currency which means the fiat currency will still be backing the digital currencies. If it would happen that such idea will become a reality and total non usage of  the real currency will happen, banks will not be lost but transforms itself to cryptobanks. So banks will always be banks. Nothing more and nothing less.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: rowel21 on February 22, 2018, 07:01:17 AM
all banks will make there own cryptosystem maybe or they will collide with cryptosystem just be cause they don't have any option left for now a lot of people is not exposť in btc so all banks cannot feel the side effect of crypto but sooner  all of them will implement a cryptosystem  cause people in future will learn to use digital wallet and this will left behind and the only costomer they have is those person  who do t knew how to use  mobile pbone


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: removebeforeflight on February 22, 2018, 08:26:21 AM
Obviously banks would shut down their business, that is the reason banks are forcing governments to ban Bitcoin with all their influence. Banks normally steal people's money in the form of fees, charges, interest rates and commission with people's money itself. But Bitcoin doesn't have a intermediate agency like banks in between people's money and profit earning which banks oppose.

However, Banks would adopt block chain technology and introduce their own crypto coins to sustain their position competing Bitcoin, example of one crypto is Ripple. We can expert more banking crypto coins coming in in future like Ripple. 


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: jhamz03 on February 22, 2018, 04:55:56 PM
If everything where change in the future like paper money into digital currency, and so as the bank will change too. They will change it into digital platform (digital bank) it actually happening right now that there is now a digital bank for a crypto holder who want to deposit their cryptocurrency.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: batang_bitcoin on February 22, 2018, 05:17:09 PM
the bank will change too.
They don't have choice but to embrace the changes and they have to adopt cryptocurrencies too.
They will change it into digital platform (digital bank) it actually happening right now that there is now a digital bank for a crypto holder who want to deposit their cryptocurrency.
It's happening but with digital fiat currency not with cryptocurrencies as for now they are still looking at it on the negative way because they don't fully trust it because its decentralized.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: NJB18 on February 23, 2018, 02:17:58 AM
the bank will change too.
They don't have choice but to embrace the changes and they have to adopt cryptocurrencies too.
They will change it into digital platform (digital bank) it actually happening right now that there is now a digital bank for a crypto holder who want to deposit their cryptocurrency.
It's happening but with digital fiat currency not with cryptocurrencies as for now they are still looking at it on the negative way because they don't fully trust it because its decentralized.

I find it really difficult to imagine how a crypto bank works. I mean, it should be safe and secured which means our deposits are insured too. Is it really possible to insure crypto funds given the high volatility?


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: batang_bitcoin on February 27, 2018, 10:57:00 AM
the bank will change too.
They don't have choice but to embrace the changes and they have to adopt cryptocurrencies too.
They will change it into digital platform (digital bank) it actually happening right now that there is now a digital bank for a crypto holder who want to deposit their cryptocurrency.
It's happening but with digital fiat currency not with cryptocurrencies as for now they are still looking at it on the negative way because they don't fully trust it because its decentralized.
I find it really difficult to imagine how a crypto bank works. I mean, it should be safe and secured which means our deposits are insured too. Is it really possible to insure crypto funds given the high volatility?
It will work like the usual banking system, deposit, withdrawal, ATM's, loans, etc. By the essence of being anonymous in this type of currency will be gone. You know how the banks are working right? They are requiring different identifications and other validity just for their depositor or someone who is in need for their service. Yes, it possible to insure crypto funds but I don't know on how they will make it and adjust to the matter.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Barcode_ on February 27, 2018, 11:05:23 AM
Banks will still be able to survive as citizens will still need a proper and safe place to deposit their fiat cash, but banks might need to reduce their staff strength overall as more customers will transfer money to each other using crypto-currencies instead of going through bank due to the high fees charged by the bank.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Roachgo04 on February 27, 2018, 11:44:22 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

The only reasonable thing that bank will do is to consolidate its operation and become efficient as much as possible. In order to survive from the rise of cryptocurrencry, many banks will do merging and even buying out the rival banks. They might also use a separate crypto division which will certainly challenge the existing coins and altcoins. If time come that more people use crypto the bank may engage open war to its rival.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: monomix on February 27, 2018, 12:47:04 PM
the banks will accept crypto then, and lead the mainstream, but thats a long way yet to go


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: reality18 on February 27, 2018, 06:28:42 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
Obviously, the banks will go down gradually if the patronage of cryptocurrency keep rising since either parties uses different mode of operation. The banks are centralized where as cryptocurrencies are decentralized, hence cryptocurrency works it way out all the time to give the people power and control of their financing and monetory dealings. I believe everyone loves to gain power, independence, and control over their financial lives.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: toygama on February 27, 2018, 08:37:44 PM
Of course they adopt changes that is the constant thing happen in the world, I think as of this time they have already an alternative plan if crypto become the mode of transaction in exchange of fiat.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Naughty Princess on February 27, 2018, 09:44:02 PM
Banks will still be able to survive as citizens will still need a proper and safe place to deposit their fiat cash, but banks might need to reduce their staff strength overall as more customers will transfer money to each other using crypto-currencies instead of going through bank due to the high fees charged by the bank.
I think that it is more secure to deposit your funds in the bank and just let the amount for investment be in  online wallet. Bank will not lose people because there is crypto, there will happen that more people find it for the safety of they savings and let then save a fiat that is already a profit from investment.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Komobit on February 27, 2018, 10:40:40 PM
I'm dying to see Fractional-reserve banking with cryptos. One bank usualy use just one big fiat money to do his Fractional-reserve banking but I believe this will not be the case with cryptos becouse they are not bounded by boundaries, so it will be commom to one single bank work differently with each Fractional-reserve coin


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: cristinaxx on February 28, 2018, 02:26:58 AM
What will happen to the bank if people uses cryptocurrencies more than fiat? Will I think the bank will adopt the cryptocurrency too. The bank will adjust in what is happening in our society. And still early for thinking about that, I guess banks are aware in our industry and always ready for any problem they can encounter.. And it's possible that they already heard about cryptocurrency so maybe as of now they are trying to figure it out how they resolve the problem.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: tuikindu01 on February 28, 2018, 03:14:49 AM
No one knows for sure what will happen.

Maybe the bank will issue its own token at that time.

In the future, bitcoins and other passwords will coexist with fiat money.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: naidray on February 28, 2018, 02:12:35 PM
the bank will change too.
They don't have choice but to embrace the changes and they have to adopt cryptocurrencies too.
They will change it into digital platform (digital bank) it actually happening right now that there is now a digital bank for a crypto holder who want to deposit their cryptocurrency.
It's happening but with digital fiat currency not with cryptocurrencies as for now they are still looking at it on the negative way because they don't fully trust it because its decentralized.
I find it really difficult to imagine how a crypto bank works. I mean, it should be safe and secured which means our deposits are insured too. Is it really possible to insure crypto funds given the high volatility?
It will work like the usual banking system, deposit, withdrawal, ATM's, loans, etc. By the essence of being anonymous in this type of currency will be gone. You know how the banks are working right? They are requiring different identifications and other validity just for their depositor or someone who is in need for their service. Yes, it possible to insure crypto funds but I don't know on how they will make it and adjust to the matter.
I ever doubt if that would happen unless of course they are going to be doing that for the common man who may not know how to make use of the internet or keep their funds safe. We already have a bank ourselves which is our wallet, and maybe they can function in the area of loans, ATMs which is pretty reasonable and I believe will be their first target, and maybe as an exchange, but the usual deposit thing, I am not sure. Why would I ever want to deposit my bitcoin in a bank, when there is a wallet without me having a third party ?


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: camito on February 28, 2018, 02:30:00 PM
There's nothing else they can do but to accept and make transactions involving cryptocurrencies. They will adapt this new innovation in technology as well as in currencies. They will be force to accept transactions with these cryptos or they will make their own cryptos that will be used by them and their customers in transacting and as an investment. This will be their best choice to keep pace with cryptocurrencies.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Johnyz on February 28, 2018, 02:42:49 PM
The bank will remain strong despite on this thing, simply because they will use cryptocurrency and in the end people will still make transactions on the bank. Crypto will not replace banks, it will go beyond that but of course business tycoon will not let that things to happen.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: litepresence on February 28, 2018, 05:46:56 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

These changes wont happens immediately but day to day changes in life will lead to the changes as above. If that happens we people are lucky because we are already in to the crypto world. We will be a step ahead of others. If the world accepts the cryptocurrency then bank has no other option they should also accepts some of the cryptos to make profits or else bank cant survive. Bank can survive only for loan purpose to the people to fulfill their basic needs and nothing else.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Bagaji on February 28, 2018, 05:57:49 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
Banks has so many functions and strongly believe that even if crypto currency should be accepted world over banks will still be in existence. As we are all seeing crypto currency now it will take a longer time to be accepted world over as a means of exchange for goods and services.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: stellgod on March 01, 2018, 08:02:17 AM
No one knows for sure what will happen.

Maybe the bank will issue its own token at that time.

In the future, bitcoins and other passwords will coexist with fiat money.
Most of the banks are owned by the governments and the ones which are private banks also need to get approval from the government before taking any such kind of step. The thing is banks cannot start using crypto currencies until and unless the government does not allow then to do so. They really need to get approval first and if they manage to do so, then this will turn out to be the most dangerous thing for survival of paper money.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: dodziu on March 01, 2018, 09:37:55 AM
'' Perhaps in the future,we could create a smart contract based system that will work as a crypto bank''
I can go along with this quote as initially suggested. But at the same time , It is worthy of note that these Banks can never seize in totality, they can only be reduced to barest minimum, not forgetting that Banks services is not limited to Real currencies operation alone, some valuable items like Gold and other important valuables like important and confidential documents are still kept in their custody by many. And however, physical cash can not be easily eroded completely even with the advent of massive cryptocurrencies acceptability.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Cosbycoin on March 01, 2018, 03:17:19 PM
the bank will change too.
They don't have choice but to embrace the changes and they have to adopt cryptocurrencies too.
Looking at the long of it, they will definitely find a way to blend with the system just as you have said, and see how they can benefit. I feel they will end up in the angle of exchanges in the long run, but even at that, that still makes them a lot irrelevant anyway considering the fact that OP is relating it to people using more cryptocurrency than fiat. Well, at that stage, they should better start packing to go back home.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Kevin77 on March 01, 2018, 03:18:17 PM
Banks will still be able to survive as citizens will still need a proper and safe place to deposit their fiat cash, but banks might need to reduce their staff strength overall as more customers will transfer money to each other using crypto-currencies instead of going through bank due to the high fees charged by the bank.
In the real sense, yes! Because we cannot expect the whole fiat system to just be wiped out completely and I am sure some people and some set of citizens will always have a need for it.

Even though, in the sense where we have more cryptocurrency users and apparently, for a place where there are lots of learned, it is possible, then we should believe this to be the case where banks will really just have to find some services to render in the cryptocurrency ecosystem as that would drain them completely. Letís not forget though that the government will want to make sure salaries are pain in fiat.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Sandra9 on March 01, 2018, 03:40:53 PM
I think hell will break loose if people try setting up outside of the establishment. I think in order for this to be accepted and main stream adoption to happen it will need to accept regulation.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: pelipurlara on March 01, 2018, 03:48:51 PM
Maybe if this will happen banks will be forced to used also internet in their transactions so that they can coop up with the trends but they will still operate.

Of course, the government will side with the bank because they can get more taxes from banks because of crypto currency. and this will cause many banks to close, but before it can happen, the government will surely set the crypto currency or even ban its use.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: selectaselectine on March 01, 2018, 06:01:14 PM
I think hell will break loose if people try setting up outside of the establishment. I think in order for this to be accepted and main stream adoption to happen it will need to accept regulation.
As of the moment, it is really difficult to assess what changes would occur when bitcoin becomes more of use than the fiat money. I'm sure that prices of goods and services will definitely change sharply due to the people's less patronization of the fiat money over bitcoin or other cryptocurrencies.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: alexanderisora on March 01, 2018, 06:06:14 PM
Banks are reacting:
https://www.engadget.com/2018/02/03/banks-ban-credit-crypto-purchases/
https://www.forbes.com/sites/naeemaslam/2018/02/05/banks-banning-cryptocurrency-purchase-on-credit-cards-why/#2edd37e23cf9

Sad, but the hatred will continue. They will do everything to make us drop crypto.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: pokeronlinestatus on March 06, 2018, 08:06:53 AM
the bank will change too.
They don't have choice but to embrace the changes and they have to adopt cryptocurrencies too.
They will change it into digital platform (digital bank) it actually happening right now that there is now a digital bank for a crypto holder who want to deposit their cryptocurrency.
It's happening but with digital fiat currency not with cryptocurrencies as for now they are still looking at it on the negative way because they don't fully trust it because its decentralized.

I find it really difficult to imagine how a crypto bank works. I mean, it should be safe and secured which means our deposits are insured too. Is it really possible to insure crypto funds given the high volatility?
I feel this is something that would happen anyway and we cannot expect to see a huge level of volatility as we keep forging ahead. We all know how the market has been from the start and how it keeps improving every day.  Also, I am sure they will also fall in the area of giving out loans as the case may be, but at the end of it all, one way or the other, for them to keep functioning, they will have to find a way to fit in.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: gabmen on March 07, 2018, 08:03:59 AM
I think hell will break loose if people try setting up outside of the establishment. I think in order for this to be accepted and main stream adoption to happen it will need to accept regulation.
As of the moment, it is really difficult to assess what changes would occur when bitcoin becomes more of use than the fiat money. I'm sure that prices of goods and services will definitely change sharply due to the people's less patronization of the fiat money over bitcoin or other cryptocurrencies.
Lol. If that were even to happen, i don't think crypto's in the state that it is now. There probably would have been a lot of regulations in crypto to make it less volatile and more steady, enough to be used in regular transactions. That can happen, that's why banks aren't too happy about bitcoin's emergence, but i don't think it's soon


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: roxbit on March 07, 2018, 03:29:32 PM
I think hell will break loose if people try setting up outside of the establishment. I think in order for this to be accepted and main stream adoption to happen it will need to accept regulation.
As of the moment, it is really difficult to assess what changes would occur when bitcoin becomes more of use than the fiat money. I'm sure that prices of goods and services will definitely change sharply due to the people's less patronization of the fiat money over bitcoin or other cryptocurrencies.
Lol. If that were even to happen, i don't think crypto's in the state that it is now. There probably would have been a lot of regulations in crypto to make it less volatile and more steady, enough to be used in regular transactions. That can happen, that's why banks aren't too happy about bitcoin's emergence, but i don't think it's soon


At this moment in time that bitcoin is already considered a currency, it really is a big rivalry with the usual physical money (fiat) since it is non taxable. It is true that when one door closes another one opens. Sadly, it will happen to banks because we all know that banks have less profit and interest. And they are using peopleís money with very less return. Its time for them to get scared with the trouble that they are about to face when people start to withdraw their savings and use crypto.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: fullhdpixel on March 08, 2018, 10:03:32 AM
I think hell will break loose if people try setting up outside of the establishment. I think in order for this to be accepted and main stream adoption to happen it will need to accept regulation.
As of the moment, it is really difficult to assess what changes would occur when bitcoin becomes more of use than the fiat money. I'm sure that prices of goods and services will definitely change sharply due to the people's less patronization of the fiat money over bitcoin or other cryptocurrencies.
Lol. If that were even to happen, i don't think crypto's in the state that it is now. There probably would have been a lot of regulations in crypto to make it less volatile and more steady, enough to be used in regular transactions. That can happen, that's why banks aren't too happy about bitcoin's emergence, but i don't think it's soon
No one out of us actually know that what will happen in the very next moment and the way crypto currencies are gaining this much of the fame in the entire world, there are likely chances to see the demand of crypto currencies more than that of fiat. However, this will definitely take some time and at time when this thing will happen, this will seriously affect the banks and that their survival will be at stake.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Mystica101 on March 08, 2018, 10:29:05 AM
I don't think banks will allow this to happen they will find a way in every means to not let crypto took over their place or maybe if this happens it will take for too long no one knows when we just have to expect the unexpected changes may come along the way  and I guess if that time comes banks should do something better which people would decide to still use fiat over crypto.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Angna27 on March 09, 2018, 07:30:24 AM
We never know what will happen to currency during that time, if the bank and the government adapt and absorb this crypto currency kind of system I'm sure there will be a lot of changes and adjustment to make and surely it has great effect in economy and society all over the world.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: carodupuis on March 09, 2018, 08:40:12 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
Dude thatís your business, even if you want start making use of gold and silver, you will still need fiat to purchase that gold and silver. No matter what you do, you canít end the use of fiat, cause itís the main currency. And if everyone starts making use of Bitcoin, fiat is still there and when you need Bitcoin you will need fiat to buy it. Simple.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Amilhussin24 on March 10, 2018, 05:01:26 AM
If people uses cryptocurrency more than fiat? Actually this is not possible, but if it is, maybe it will took a long time to happen. But if this will happen, bank will be actually closed, because Cryptocurrency is decentralized, it doesn't need any Government banks. Banks is the intermediary, it is a middle man in every person, bank is working for people, if people dont used fiat currency anymore, bank doesn't exist anymore.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: KrisAlex18 on March 10, 2018, 05:35:40 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
I think it would make a great change if ever bitcoin starts on being patronized by people more than fiat. We all know how bitcoin works in real life, it provides convenience and easier transaction everywhere you are. Handing over a physical money may not be practiced anymore in the future but still no one really knows what will happen afterwards. Let us just keep on supporting both for the greater good of everyone.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: samycoin on March 31, 2018, 07:39:31 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
I think if that it will easy to us to use bitcoin as a payment everywhere and save our money in bitcoin wallet but this thing will happen for the future not now. About the bank I think we can always use it too mostly some people not interested to bitcoin and don't have enought ability to use bitcoin so bank is the other choice for them.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: PauloLuks on April 01, 2018, 06:50:16 PM
It took centuries of trial and error for most countries to come around to their modern systems of money. Central banks today monopolise national currencies, and they steer availability mainly through commercial banks that, as economists often put it, 'create money out of thin air'. That is, centrals expand or contract supply by lending to and imposing reserve requirements on commercial banks. I think cryptocurrencies are going to end up as an alternative option like several categories. It will end up existing alongside traditional forms of old banking.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: jhean_arcane on April 02, 2018, 08:20:49 PM
It took centuries of trial and error for most countries to come around to their modern systems of money. Central banks today monopolise national currencies, and they steer availability mainly through commercial banks that, as economists often put it, 'create money out of thin air'. That is, centrals expand or contract supply by lending to and imposing reserve requirements on commercial banks. I think cryptocurrencies are going to end up as an alternative option like several categories. It will end up existing alongside traditional forms of old banking.

On point! Fiat money will always have use, especially for the poor, because it is the easiest to acquire and and it is not complicated to understand and use. Unlike for virtual currencies which needs internet connection, a decent device and technical knowledge of the user. It will just like be paypal in a sense. But I don't deny that bitcoin is gaining ground in terms of value and usability. It may or may not be the main currency, but fiat remains as long as there is a demand and of course, banks.

Banks will try to adopt to the changes of the financial climate to survive. Those who are not willing to adopt are those that dies. ex, Nokia and Blackberry.  In fact, they already tried to adopt. Example, Ripple.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: bossloccox on April 03, 2018, 10:41:28 AM
Maybe if the cryptocurrency is legalized by the government in the future, banks will create their own digital currency so they will continue. Perhaps before that time banks have also created new strategies so they would not be lost in the market due to the different cryptocurrency that appearing today. Fiat money it is simply a paper printed by the govenment and they made it a legal money . Anytime they want to replace cryptocurrency fiat money will lose value immediately.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: virasisog on April 03, 2018, 11:23:19 AM
It took centuries of trial and error for most countries to come around to their modern systems of money. Central banks today monopolise national currencies, and they steer availability mainly through commercial banks that, as economists often put it, 'create money out of thin air'. That is, centrals expand or contract supply by lending to and imposing reserve requirements on commercial banks. I think cryptocurrencies are going to end up as an alternative option like several categories. It will end up existing alongside traditional forms of old banking.

On point! Fiat money will always have use, especially for the poor, because it is the easiest to acquire and and it is not complicated to understand and use. Unlike for virtual currencies which needs internet connection, a decent device and technical knowledge of the user. It will just like be paypal in a sense. But I don't deny that bitcoin is gaining ground in terms of value and usability. It may or may not be the main currency, but fiat remains as long as there is a demand and of course, banks.

Banks will try to adopt to the changes of the financial climate to survive. Those who are not willing to adopt are those that dies. ex, Nokia and Blackberry.  In fact, they already tried to adopt. Example, Ripple.
Good outputs. In this world we are always adopting this banks soon enough they will use cryptocurrencies they have nothing to do with the people who use crypto and for those who's still not using crypto may use fiat as an exchange. In fact it was not too easy to make it change fast. Even the government in every country will take time to adjust the currency system. Many will go and change not only in the transactional methods.

Let it happen banks will be banks they will going to change upon situation on what most people were liking that which can take advantage.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: jeanpadel14 on April 03, 2018, 01:06:21 PM
If everyone begins using cryptocurrency, infrastructure would need to be developed with that in mind. It might not take too long for cash to become incompatible. At this point, it remains to be seen whether established financial institutions could pivot to that new status quo in time.At the highest level, governments will be hit hard, as they will no longer exercise the same level of control over the countryís currency. The idea of printing more money has been raised time and time again in response to financial turmoil, but that option disappears once currency has to be mined.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: SHawk on April 03, 2018, 01:32:06 PM
Though this may not be applicable on a very fast rate from now because of it yet to be adopted in lots of countries around the world. As we are now much expecting this to happen, I don't think by then, Fiat money shall be totally put out of no use, because it is the legal tender understood by all in the society literates and illiterates. But it is not doubtful that Cryptocurrencies usages shall in the future be accepted for uses.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: julius caesar on April 03, 2018, 02:01:14 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

Definitely they will fail if they will stand to be pirely a fiat medium transaction entity, I think this will lead them to bankruptcy since people is now open with the potentials that a cruptocurrwncy like Bitcoin can do, and I think this will make them realized the major advantage of this currency, if Banks didnt acquire with this I think time will come that the people who will invest to their company will be lesser until it will be gone.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: tiggytomb on April 03, 2018, 02:07:53 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
The banks will need to adapt and change their working to adopt crypto, I think they really should be doing this now, the early birds will catch the worm.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: nazaididuan1 on April 03, 2018, 02:10:48 PM
The high cost of using fiat money increases the demand for digital money, people use digital cryptographic currency, and bypass Banks to trade directly!

Banks reduce business profits! National seigniorage is reduced! It will affect the financial order of the country!


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Kurokonobasuke on April 03, 2018, 02:19:56 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
I think the only effect is that cryptocurrencies will just be more oftenly used and that's it. Banks are impossible to vanish just because cryptos are being more patriotized given that banks are the strongest establishment under the government and is also supported by it unlike cryptos that are mostly decentralized. Also there are people who prefer fiat over cryptos due to the market volatility which is a risk so surely banks will still be used.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: campica on April 03, 2018, 02:40:35 PM
Don't worry about banks , because banks always find the way how to adjust to the change on the current market. I'm expecting that they will make own crypto-currencies. But this won't probably happen next 10 years.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: FullMooon on April 03, 2018, 03:03:49 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
I think banks in the future will not get its target from what they get right now. Exchange rates from banks nowadays has their own respective rates that tha bank itself earns. If cryptocurrencies will be the basic mode of exchange in the future, maybe banks then will loose its value and will be lessen as it is usually needed by the people.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Kiweikoo on April 05, 2018, 07:21:24 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
The banks will need to adapt and change their working to adopt crypto, I think they really should be doing this now, the early birds will catch the worm.
This will be all about the game of who is conquering the worldís economics first. If banks made this, as they are already so flourishing, definitely bitcoins would be changing themselves and adopt some characteristics that will suit banks.

And in other case, if bitcoins have made it firstly, banks have to modify their policies and way of working as per that of bitcoins. So letís see who wins.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Haterstestbtc on April 05, 2018, 07:48:13 AM
Don't worry about banks , because banks always find the way how to adjust to the change on the current market. I'm expecting that they will make own crypto-currencies. But this won't probably happen next 10 years.


Yeah, absolutely banks will never disappear because it will adapt automatically but there is a little changes on the part of banks it will lessen to the employeer who work on tellers because can be made through digital machine transaction that will make easy and fast without any hassle.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: CuteBaby123 on April 05, 2018, 07:51:18 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

They will continue to exist and will adapt the change. They will also launch there own exchanges and maybe with very low transaction fee and offers loans, deposits withdrawals. This will be a good battle of two currencies.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Jeepney_koh on April 05, 2018, 07:55:50 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

Banks will always stay no matter what happen. If crypto will dominate the world, banks will make ways to prevent it. If not, then they will have to create or develop their own crypto coin and will compete in the crypto world.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Dimid on April 05, 2018, 11:45:19 AM
The spread of digital money is undesirable for banks, given their current problems, which they have faced recently. Speech, first of all, is about low demand for loans, lower profits due to lower interest rates and fading hopes for deregulation. Crypto-currencies have a certain appeal, given the lack of transparency in the banking system. And they completely destroy the need for intermediate transactions between financial institutions. Blockchain technology can not be cracked, unlike bank accounts, which makes it a more secure storage facility.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: nur rochid on April 08, 2018, 08:05:37 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

Banks will always stay no matter what happen. If crypto will dominate the world, banks will make ways to prevent it. If not, then they will have to create or develop their own crypto coin and will compete in the crypto world.
like today many are blocking the existence of cryptocurrency, they are afraid that later will be dangerous for his business. but with technological developments i think banks will follow suit, albeit in any way


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Shavedcoconut on April 08, 2018, 12:00:06 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

What will happen?I would say... nothing.The banks will adopt blockchain technology and start using  and accepting cryptocurrencies.Unfortunately we still need banks,because we need institutions that accumulate deposits and give loans to eligible business owners and ordinary people.We still can`t automate this process.
Perhaps in the future,we could create a smart contract based system that will work as a crypto bank.
Yes! I really hope for smart contract application for things just like this! Lets hope it comes to aurface :)


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Procopiogamscrypto on April 08, 2018, 01:02:10 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
Certainly, the banking system will adopt the current system, they may find a solution to realign the new technology but it is impossible that the bank institution will be dissolved because the government needs them for a transaction suited for the needy.

















Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: tbterryboy on April 10, 2018, 07:36:59 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

Banks will always stay no matter what happen. If crypto will dominate the world, banks will make ways to prevent it. If not, then they will have to create or develop their own crypto coin and will compete in the crypto world.
like today many are blocking the existence of cryptocurrency, they are afraid that later will be dangerous for his business. but with technological developments i think banks will follow suit, albeit in any way
The future if the banks is highly in danger because of the crypto currencies and that the owners of the banks are very much worried because of this. In case this thing happens, then I donít really think so that there will be as such need of banks and that almost all the banks will get demolished and people will be more interested in buying more crypto coins rather than putting their money into banks.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: omar bakrie on April 10, 2018, 08:08:09 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
If in the World people are using more digital currencies than real currencies, it is certain that banks around the world will experience a drastic decline. Banks may become bankrupt and cryptocurrency becomes victorious. In the future, this may happen, because people would prefer to use the practice.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: kyucryp on April 10, 2018, 08:26:20 AM
the bank function will be reduced because many people make transactions using cryptocurrency with the technology. but I think the bank will still exist to provide loan funds to its customers. or banks will create a new digital currency to participate in cryptocurrency.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: worle1bm on April 10, 2018, 08:55:21 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
The banks are providing services to people from years and will continue to provide then for years. They have their place and functioning of their own and they don't fear these cryptocurrencies.They are very well aware about ots usage and have already taken steps like adopting blockchain technology and developing their own digital coins backed up by assests like gold.If situation like people using crypto more than Fiat come Banks will Coexists with them.But future has many surprises for all of us let wait for it and hope its better.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: dario.93 on April 11, 2018, 01:40:13 PM
It will remain dispersed in the future, so donít be anxious about the paper money fate, it will exist on blockchain.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: sgenuine on April 11, 2018, 01:52:41 PM
I think hell will break loose if people try setting up outside of the establishment. I think in order for this to be accepted and main stream adoption to happen it will need to accept regulation.
As of the moment, it is really difficult to assess what changes would occur when bitcoin becomes more of use than the fiat money. I'm sure that prices of goods and services will definitely change sharply due to the people's less patronization of the fiat money over bitcoin or other cryptocurrencies.

When hell freezes over...LOL, do you remember such a saying? I suppose that it will never happen, even if cryptocurrency will have more power than now.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Coinoisseur on April 11, 2018, 09:09:41 PM
The more bitcoin is adopted by the authorities, the greater losses banks undergo during business dealings.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Isaacck1 on April 11, 2018, 09:20:44 PM
The banks have established trust and acceptance that are quite unreachable for crytocurrency right now. That is why it is almost impossible to replace fiat with cryptocurrency. This has always been an arguement, what of we all think that cryptocurrency was created to patch up the holes created by paper money but cannot stand alone. It good to think that cryptocurrency should coexist with paper money to be able to transact easily.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: SkvorNyc777 on April 11, 2018, 09:31:49 PM
The may buy the exchanges and start increasing the fees...the exist just for taking money from ordinary people.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Minus7point5 on April 11, 2018, 09:34:40 PM
Banks arent going anywhere, as I just mentioned.  We need them as financial institutions worldwide.
Banks have been with us for too many years to simply think they can be replaced by a new technology.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Vness10 on April 11, 2018, 09:59:19 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
I think bank will use of some people that don't have ability to use cryptocurrencies like our grandma's or grandpa's or even our parents. And also some of people don't interested in cryptocurrencies. So banks never gone even there's cryptocurrencies that we use we need to consider the ability of others.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: thetruth123123 on April 11, 2018, 10:15:45 PM
I think banks would be just ok! Becouse they will accept cryptocurrencies and make all the services availiable now in crypto, lol. They will find a way to provide this!


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: chaoscoinz on April 11, 2018, 10:41:57 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
Just a thought, but I think the banks would start to adopt the technology, in order to keep up with the innovation of the day. As technology becomes ever more efficient by the the day, the regualtors must either utilize existing regulations in place, or change, adapt and adjust regulations to keep up to with the times.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: dario.93 on April 13, 2018, 07:18:08 AM
Upon adoption of cryptos bank system will probably change according to the circumstances. That only mine opinion.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: BitcoinTurk on April 13, 2018, 07:27:55 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

The banking system is not a system that can easily be completed. If the situation you are talking about is realized, the system is immediately arranged in accordance with the cryptographic sector and the cryptocurrency banking system has also started. As a result, when the USD is not used, bank reserves will be assessed through cryptocurrencies. Although it may seem like a difficult process at first, after a short transition period, the system will continue to mesh without problems. You can be sure of that.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: kimochidesh on April 14, 2018, 09:29:34 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
That would be the best if it happens. It would lead to the elimination of banks which are the main fraudsters. They are charging a great amount for doing anything related to money even if it means just holding on to it. It would become possible to use cryptocurrencies in daily routines easily. This would be especially beneficial for people living in far flung areas or the outskirts of the cities who do not have easy access to banks. They can then easily use cryptocurrencies at their homes as it would be widely acceptable then.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: horrifiedx1 on April 16, 2018, 06:02:39 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
Just a thought, but I think the banks would start to adopt the technology, in order to keep up with the innovation of the day. As technology becomes ever more efficient by the the day, the regualtors must either utilize existing regulations in place, or change, adapt and adjust regulations to keep up to with the times.
indeed banks can not deny the development of technology if they do not want to be abandoned customers. but if cryptocurrency is more than fiat currency, i think the price of cryptos has increased greatly


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: sumanto on April 16, 2018, 07:29:21 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

the possibility that banks will begin to close and begin to go bankrupt due to loss of some existing customers, if there is a bitcoin in my opinion better avoid the bank and better keep the assets you have in bitcoin to be able to get a lot of profits.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: MAJICOIN on April 16, 2018, 07:39:25 AM
In the present time banks are operating through fiat money and it is not the only function of banks there are so many other functions which are done through banks and other financial institutions and people will must use fiat bitcoin is good but it is not openly allowed in many countries and on the other side bitcoin is highly volatile then some conflicts will arise with the value.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: charmaine08 on April 16, 2018, 08:12:03 AM
I think banks should so something about it .they should accept crypto for them to not in trouble like bankrupt .


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: om_iyo on April 16, 2018, 08:12:45 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
No one knows about this. But now, most people still trust for the bank. In other side, many scammers in crypto. It make a crypto has no trust for some country. So, how to make remove the scammers? And how to make people trust for crypto. I think it could be a big question for us....


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: syaripudin on April 16, 2018, 08:32:45 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
if more people use crypto currency than fiat currency, I think there will be many from Banks that will adopt blockhaind technology. by creating a crypto currency that acts as a financial asset but remains in control of the bank as a central controlling finance. but I think for now the crypto currency will not be able to eliminate the existence of the fiat already owned by every state that has been established by the government and with the control of the government.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: SkiOlya on April 18, 2018, 12:05:00 PM
Bitcoin and all the technology blockers can remove from the market such an intermediary, like banks. to store bitcoins you do not need a bank. You can store your crypto currency on your computer, limiting access to the wallet in any convenient way for you. I am more than confident that in the future, in most official purses, a currency conversion mechanism will be added, when transferring funds from the purse of one crypto currency to another. Also do not forget about hardware wallets, in which all of the above can be implemented now.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Max.junior1 on April 18, 2018, 02:51:41 PM
Honestly, this is very difficult for me to imagine and completely beyond my thinking. But this is a new condition, the bank must be prepared to accept this condition if it happens, and I am sure they (the bank) have prepared it to deal with this condition.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: charlotte04 on April 18, 2018, 03:02:13 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

I think they will be alarmed and would start to tell their governments to stop the process or they could join in with the people to adapt the community of cryptocurrencies.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: so98nn on April 18, 2018, 03:08:47 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
This situation can be imagined but talking seriously this will never happen in reality as fiat has build faith over people and have multiple uses like its legal money and you can buy goods with it whereas it will take crypto long to get adapted in that system.The banks are all ready to face that thing and have already planned to adopt blockchain technology and issue its own digital coins.Moreover they have various services to offer whuch cannoy be overtaken by cryptocurrencies.So we will say Banks are here for long term.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Genemind on April 18, 2018, 03:51:14 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

Everything can happen, it's either banks will ask help for government to regulate cryptocurrency, or banks will be innovative to adapt cryptocurrency and block chain technology to their financing system to be able to take advantage of crypto and at the same time survive.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Snaic on April 18, 2018, 07:38:42 PM
Nothing much will happen. Banks as existed, and will continue to exist. If the crypto currency will largely push fiat, banks will work vseravno, because the work they have at any time will be enough. Banks will continue to serve the implementation of the country's budget and perform a monetary function. They will also perform all other functions, only, possibly, in smaller volumes. Also, banks for sure, will provide various services in the crypto currency.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: jhonjhon on April 19, 2018, 12:28:11 AM
Existence of crypto isn't having a purpose of killing banks or fiat money, instead it only give us other options what to be used in a certain transactions. I know banks still remain at it's position even though cryptocurrency are widely used for the reason that, some people and small establishment might be still using fiat money.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: malbano2099 on April 19, 2018, 02:08:43 AM
I think, bank will be okay, everyone's idea is versatile. they can be flexible of what the world use to be in now. if that will be happen, I might say banks will adjust their system they may use cryptocurrencies for exchanging and they will also continue to their works. So i think there's nothing worry about it.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: The_Dark_Knight on April 19, 2018, 02:44:06 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
Banks are not going down without a fight, you need to understand that they do not have any kind of loyalty to governments, if cryptocurrencies become the most used form of exchange around the world you can be sure that they are going to adapt and they are going to begin to accept cryptocurrencies themselves, and it is even possible that they begin to create their own cryptocurrencies.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Rustamm on April 19, 2018, 03:25:56 AM
With banks nothing will happen. They will work, as they did before, only adjust to the crypto currency and will also provide services in the crypto currency. Banks can not disappear because they are needed by the state. Through them, the country's budget is being implemented. Therefore, the state will always protect banks and establish a preferential regime for their existence.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: MFahad on April 19, 2018, 04:07:03 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

Still banks have fear of it, I see every banker is against the crypto currency. The reason banks don't like crypto, to see this point of view, then definitely i do agree that in future banks are more against of crypto and then banks will take some step for the crypto currency, that the reason you could see in most of the country banks and governments ban the bitcoin like in India and Pakistan.   


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: begau on April 19, 2018, 04:22:19 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

Still banks have fear of it, I see every banker is against the crypto currency. The reason banks don't like crypto, to see this point of view, then definitely i do agree that in future banks are more against of crypto and then banks will take some step for the crypto currency, that the reason you could see in most of the country banks and governments ban the bitcoin like in India and Pakistan.   
It is true when a new element appears, it can make your existence disappear, you will never like it. Banks will not let that happen or they will create something similar that they can control.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Sled on April 19, 2018, 05:44:44 AM
The banks will go bankrupt because they will make enough profit for themselves to sustain their bank. Banks are just depending on the money of the people who put money to the bank so if the money in the bank goes lower and lower then they will just close their bank and the cryptocurrencies will become the main place for storing money.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: thecoder2017 on April 20, 2018, 12:52:10 PM
Maybe banks will be affected a little only because fiat will not disappear i guess and bank will stay for the people who uses banks in their transactions and banks will adjust their ways on how to deal with cryptocurrency.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: daarul50 on April 20, 2018, 01:05:21 PM
Depending on what conditions, if the government still does not receive bitcoin as a legal payment method for the community then the bank will not feel threatened even though people have gone to use bitcoin versus fiat currency because the community needs is the official government crypto exchange service to get started switch using bitcoin as a payment method.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Janation on April 20, 2018, 01:08:11 PM
Maybe banks will be affected a little only because fiat will not disappear i guess and bank will stay for the people who uses banks in their transactions and banks will adjust their ways on how to deal with cryptocurrency.

People are always using Bitcoin but it is impossible that Bitcoin will be overcoming Fiat in terms of transaction since there are a lot of people who still do not know digital currencies and people are just treating Bitcoin and other digital currencies as an asset and not as a currency that is need to be used every single day to buy their needs, also, lets consider the fee transacting Bitcoin everyday.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: magz on April 20, 2018, 01:29:26 PM
I think they won't let it happen that they become useless when cryptocurrencies already enter our society. Adaptation of crypto market is a long way process, with that, banks will definitely make a way to adapt to changes so that they will still stay in business as much as possible.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: w5pn73 on April 20, 2018, 01:32:02 PM
I think they won't let it happen that they become useless when cryptocurrencies already enter our society. Adaptation of crypto market is a long way process, with that, banks will definitely make a way to adapt to changes so that they will still stay in business as much as possible.

One thing I do know is that banks will be taking a piece of the crypto pie one way or another. They have already seen the amount of money it generates.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: nelsledma on April 21, 2018, 06:13:20 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

Still banks have fear of it, I see every banker is against the crypto currency. The reason banks don't like crypto, to see this point of view, then definitely i do agree that in future banks are more against of crypto and then banks will take some step for the crypto currency, that the reason you could see in most of the country banks and governments ban the bitcoin like in India and Pakistan.   
It is true when a new element appears, it can make your existence disappear, you will never like it. Banks will not let that happen or they will create something similar that they can control.
Digital currencies have the power to eradicate paper money. It is just a matter of time but if banks will start accepting bitcoin or introduce some digital currency of their own with heavy offers, which they will definitely do, I donít think these would be wiped out. Moreover, bitcoin is not a regulated currency but the digital currencies used in banks would be regulated one and legalized by government too.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: SixOfFive on April 21, 2018, 09:20:54 PM
Banks will either shut down or adopt cryptocurrency as a their  official payment mode to stay in business. In both scenarios cryptocurrencies will rock and its value will be skyrocketing. The blockchain technology behind it will give it advantage over fiat to remain hack free and transparent so there is no or very less chances of fraudulent in blockchain system.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: South Park on April 21, 2018, 10:10:41 PM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
There are basically two possibilities, the first one and the one that some people in the forum want is that bitcoin victory is so pronounced that banks disappear as we know them and now every single person is a bank fulfilling the vision of satoshi, however the most likely possibility is that banks are simply going to adapt to bitcoin and will keep offering their services and they will keep scamming people out of their money.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: KeithBeeCham on April 21, 2018, 10:17:00 PM
For now, the number of people use cryptocurrency is increasing very quickly and very soon I think nobody will want to use bank anymore. But I think bank will do something to save their system like try to find out the way to legalize cryptocurrency in their country and accept it in their system. But for now, it's still not happened yet.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Nekrasova on April 21, 2018, 10:19:47 PM
I think that the banks will start using blockchain technology in such case.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Whitly on April 21, 2018, 10:35:03 PM
I think, banks will just find the way how to integrate cryptocurrencies and will ask help from the government to find the way how to regulate it. That's why, I don't think, that banks will just disappear, even if cryptocurrencies will be used almost by everyone in near future. And I don't even think, that cryptocurrencies will be used almost by everyone in near future, since more and more people using them as a kind of virtual assets, than a kind of payment method.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Rustamm on April 22, 2018, 04:57:32 AM
If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?
You can not worry about banks. They worked and will work even when the crypto currency partially displaces fiat, and will also become the main form of financial settlements between citizens. Banks will in any case find a job and will continue to extract their profits, perhaps not so much. Banks are needed by the state and the state will always support them. Implementation of the country's budget has always been and will continue through banks. The main income of banks - the issuance of loans will also work in any situation. Crypto currency can not perform this function due to its nature and high volatility.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Davidovic6648 on April 23, 2018, 08:26:25 AM
Nothing is going to happen to the bank as its not everybody that would partake in the trading with this crypto currency and banks do not exist to save money in alone. But if it happens, we will see the system change as well.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: EnricoGomez on April 23, 2018, 09:26:20 AM
No one exactly knows what can happen in the future.
I am guessing that if cryptocurrencies are to be used as a regular currency for everyday living in the society overall, banks will have to adjust to it. Governments use banks to regulate and even gain profit as an additional source aside from taxes so I don't think governments will just let go banks in favor of cryptos.


Title: Re: What will happen to the banks if people uses cryptocurrencies more than fiat?
Post by: Xanxus024 on April 23, 2018, 10:19:47 AM
I think bank will need to adjust if that scenario comes besides some of the banks started to adopt bitcoin because we can change our bitcoin to those bank who accept bitcoin and for sure the government will make an action to regulate the situation.