Can we totally eliminate all the banks in this world?

[Palmerson]

Bitcoin will never destroy the banking system. Who will lend to the development of enterprises? Without it the economy will cease to develop. I think that the state will issue its own electronic money, and regulate it like Fiat. Banks with 'bjv generally can no longer pursue exchange transactions of bitcoins.

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[jolly]

Impossible.

[bitbunnny]

I don't think the banks will disappear, ever. They will change the way they do their business and that is also partialy because of cryptocurrencies who have changed the finances but worlds' economy will not change that soon and banks are one of the pillars of such system.

But with growth of cryptocurrencies, especialy Bitcoin people have the choice and with time they could diminish the number of services they use in banks and some could maybe become totaly independent from banking system.

[Harlot]

I don't think that there is any possibility of that happening. First of a government will face a lot of legal issues protecting all the bank accounts especially all the money of their citizens within their banking system. And why will you eliminate a banking system because of cryptocurrency? When they can co-exist with each other. People think that one of them should be eliminated in order for the other to be completely successful, but that is really not the case.

[yurekaa]

and when the cryptocurrent die, the bank will exist again.
i think no, bank never disappear.
not all human use this crypto, so we always need bank

[futuret]

What is the future of cryptocurrencies when all the government need to do is to close the bank accounts of businesses or exchange?

https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/

For me i think its to hard to eliminate all the banks in this world because banks plays a big role in this world,especially in financing,loan,savings etc. But if that will happen that all banks will be eleminated i think there is a much better purpose to have a progressive world of bitcoins.

The banks in my country are accepting the bitcoin and they are investing in the bitcoin for the sake of the profit. The price of the bitcoin is increasing and the price of the bitcoin will be high if the world banks and the investors will invest in the bitcoin for the sake of the high profit. The amount of the bitcoin is now going high and they are accepting the bitcoin for the long term investments.

[Hamstead]

Since fiat money is still alive, banks business is still there also to accommodate us.  Bank owners are totally aware about this kind of currency. And I believe that they are doing some modifications in their technologies in order to accept digital currencies because that might  happen in the future.

[Coffee135]

Since fiat money is still alive, banks business is still there also to accommodate us.  Bank owners are totally aware about this kind of currency. And I believe that they are doing some modifications in their technologies in order to accept digital currencies because that might  happen in the future.

Why banks need cryptocurrencies. The banking system is completely adapted under Fiat. Cryptocurrencies are different in that you are unable to refinancing from the state in the event of temporary illiquidity. Bucky accepted the crypto currency will fall like a house of cards. What business can withstand a 500% APR loan?

[panju1]

Since fiat money is still alive, banks business is still there also to accommodate us.  Bank owners are totally aware about this kind of currency. And I believe that they are doing some modifications in their technologies in order to accept digital currencies because that might  happen in the future.

If banks do accept crypto currencies, it will be a government approved, fiat like crypto. It definitely don't be decentralized like Bitcoin. Bankers and governments hate things they cannot control.

[i287853]

Bank’s aint going nowhere. The banking system has been around for ages.Cryptocurrencies will will be used on a larger scale as technology progresses but not to a point that it will replace banks because technology is not adopted by everyone

[ugarpice]

What is the future of cryptocurrencies when all the government need to do is to close the bank accounts of businesses or exchange?

https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/

Maybe but we cannot tell when bank to be eliminated i think it is imoossible because unless all people alreayd adopt already bitcoin as a digital currency.

[katiecbell]

Like there will be always tax heavens in the world, there will be always countries who will allow to run crypto currency exchanges. Even if more and more governments will start to prohibit exchanges, there will be still the possibility to exchange directly from person to person.

Besides you have also the possibility to mine coins directly without any need to use exchanges. If the governments will say A, people will say B. 

Governments are sensible and they know that there betterment is in bitcoin and no other country is going to ban such valuable coin and as taxation system is concerned there will be easy to collect taxes from the bitcoin because it will reduce HR and banks will not be eliminated they will upgrade their systems and will start receiving bitcoin as it gets in.

[Anthonyxx]

What is the future of cryptocurrencies when all the government need to do is to close the bank accounts of businesses or exchange?

https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/

And who exactly is the government,who do they represent?Us,everyday people of course.
So the only thing to do is to start worldwide protests.When your freedom is taken away by banksters' and rich people interests,
so is your freedom and there's nothing else you can do.
World would anyway be so much better place without this prosperity sucking leeches.

[Fulmand]

What is the future of cryptocurrencies when all the government need to do is to close the bank accounts of businesses or exchange?

https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/

And who exactly is the government,who do they represent?Us,everyday people of course.
So the only thing to do is to start worldwide protests.When your freedom is taken away by banksters' and rich people interests,
so is your freedom and there's nothing else you can do.
World would anyway be so much better place without this prosperity sucking leeches.

I think we can not eliminate totally all the banks in the world because banks plays a big role in this world, especially in financing, loan, savings and many others. They have a full support to the government and it is  inherent in already in our society. In long run the banks will adopt accepting digital currency soon if fiat will disappear.

[Altero]

What is the future of cryptocurrencies when all the government need to do is to close the bank accounts of businesses or exchange?

https://www.coindesk.com/bitcoin-businesses-face-bank-account-closures-in-singapore/

Maybe but we cannot tell when bank to be eliminated i think it is imoossible because unless all people alreayd adopt already bitcoin as a digital currency.

I don't think that bitcoin could be eliminated  because we all know that not all of us are in using crypto currencies. And still a lot of people, even billionaires that are using and totally supporting banks. They considered banks as their primary storage of their wealth and it could be hard for them if banks will gone.

[taiwww]

no, banks never get eliminated totally.
Banks do many functions required by persons in their day to day life.
Banks help people by paying them interests by keeping their deposits.
They not only give loans to general people but also to the industrialists who run industries by charging them interest.
Banks works as a mediator between those who have surplus and who are in need.
Currently no substitute institutes or agency is there which can replace banks.
Banking business may get affected by cryptocurrencies like bitcoin etc. but they will definately overcome them by making adequate changes in banks technology or by reducing the bank charges.

[RayvenPierre]

Banks will never be gone no matter what bitcoin do. Banks are needed not only for loans but they are also used as means to give people their salary through atms. Banks are also one of the main means to cash out bitcoin so I don't understand why would someone thinks that banks can be eliminated.

[smokeydog]

Banks move trillions of dollars each day.  Without them we have no commerce.   Bitcoin will not take this over with little home computers hosting the block chain.   We are years away from bitcoin have this kind of impact.

[jimn]

No, surely we can't eliminate all the banks in this world, because most financial transactions around the world are made by banking services, and also banks are usually legalized and supported by the governments.
Most people use banks as well, a lot more than using crypto currencies.

[californiaquail]

Jesus...  Of course we can, and quickly.  

Consider the VC industry : it got rekt by ICO's in a matter of months.  Numbers talked, money talked.  It's over for the big guys.

Who the hell in their right mind would consider giving away 40% equity in their startup to some fat lazy shark like Mark Cuban in exchange for a grotesque 100k investment in their company when they can raise that money through an ICO in a matter of hours without any paperwork while keeping 100% equity ?

http://www.wired.co.uk/article/initial-coin-offerings-on-the-blockchain-are-disrupting-venture-capital


We're about to witness a tsunami of massive disruptions in the financial system, banks will be the first victims : even if they survive, they will be disrupted beyond recognition in a matter of years.

Another financial crisis like the one we saw in 2008 and you kiss the banks goodbye and say hello to a $500k Bitcoin global gold standard.