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logicgate
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October 24, 2017, 07:36:06 PM |
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The banking system was created with the ability to adapt to the environment.
Here's a quick history lesson:
The first recorded banking system was during the crusades when the Knights Templar provided travelers documents written in a unique cipher to allow them to travel without having to bring with them their treasures. They can deposit their gold in another land, and withdraw them in a different one, so as long as there is a Knights Templar base nearby.
Now, compare how far the banking system has changed from that.
It will be most likely that the bankers will simply improve their system to fit in directly with how people will transact through digital currency.
Banks cannot be eliminated now because still they are fulfilling the basic needs of people whenever people stuck in financial crisis banks are here to help them but now another innovation has entered the market that is bitcoin and market and bakers are in worry that this coin will shut their business and it’s true because people are rushing toward bitcoin and banks are thinking to accept the bitcoin to continue. |
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The grue lurks in the darkest places of the earth. Its favorite diet is adventurers, but its insatiable appetite is tempered by its fear of light. No grue has ever been seen by the light of day, and few have survived its fearsome jaws to tell the tale.
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foxbat
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October 24, 2017, 07:49:57 PM |
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This may happen. But I think it's a long time to happen and if this happens we're probably already adults. Before this happens I think it is necessary to fully adopt the crypto that is used in simple transactions such as buying groceries, shopping. And in other words it's easy for everyone to use. I think the opposite must happen, so that bitcoin can be applied to the payment system in our daily lives, bitcoin must be accepted by governments. However, it is too early for bitcoin to do that, it takes more time to develop. |
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dunfida
Legendary
 Offline
Activity: 3080
Merit: 1131
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October 24, 2017, 08:12:07 PM |
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The banking system was created with the ability to adapt to the environment.
Here's a quick history lesson:
The first recorded banking system was during the crusades when the Knights Templar provided travelers documents written in a unique cipher to allow them to travel without having to bring with them their treasures. They can deposit their gold in another land, and withdraw them in a different one, so as long as there is a Knights Templar base nearby.
Now, compare how far the banking system has changed from that.
It will be most likely that the bankers will simply improve their system to fit in directly with how people will transact through digital currency.
Banks cannot be eliminated now because still they are fulfilling the basic needs of people whenever people stuck in financial crisis banks are here to help them but now another innovation has entered the market that is bitcoin and market and bakers are in worry that this coin will shut their business and it’s true because people are rushing toward bitcoin and banks are thinking to accept the bitcoin to continue. I cant really see the reason the bitcoin would really be eliminated or be vanished because of bitcoin or crpytos.I would rather believe that bitcoin and other coins would possibly be eliminated if government would really decide such thing to prohibit or making global ban regarding on crypto transactions.It might not completely die but there would really be a limited space on where they can able to move.Seeing on OP, bankers would really somehow be worried on crypto investment since they do really know the capability of it when in terms of handling our assets or funds. |
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Zero.X
Newbie
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Activity: 32
Merit: 0
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October 24, 2017, 08:20:02 PM |
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Is there a reason to do that? Banks aren't necessary the worst of all evils and I kind of like having credit cards that would reward me with cashback when I buy food or gas.
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BitcoinCommodor
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October 25, 2017, 01:07:12 PM |
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I don't think that banks will be elliminated, there are still services that only banks can offer to their clients. I think that banks will only adopt what bitcoins are doing but elliminating them is i think not possible.
Banks are the basic necessity of any society. There is no way that we can live a comfortable life without having banks. Banks come directly under the control off government and I don’t think so that government will take any such step which will result in lot of troubles not only for the citizens but for the government itself. There is no point that will convince us to eliminate the banks from this world. |
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Alfred V
Member
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Activity: 114
Merit: 10
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October 25, 2017, 01:12:26 PM |
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Even thou the cryptocurrecy’s making a lot of progress you still cannot make the banks disappear because banks are still bery useful for many people in the whole world to keep thei money safe. |
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Bacotan Bae
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October 25, 2017, 01:40:41 PM |
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I think the bank elimination is very difficult today, because the economy is still very dependent on banks, all the distribution of money via banks and most importantly the banks are fully protected by the state so that if there is a problem bank then the country will solve.
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Nambuwan
Member
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Activity: 109
Merit: 12
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October 25, 2017, 01:49:24 PM |
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If the banks in the future will be closed because of the cryptocurreny then it will be a big problem for a lot of people and mostly for the bank owners. It will also be a problem for those who are woking in the banks because their jobs will disappear.
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KingdomHearts
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October 25, 2017, 03:00:05 PM |
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This may happen. But I think it's a long time to happen and if this happens we're probably already adults. Before this happens I think it is necessary to fully adopt the crypto that is used in simple transactions such as buying groceries, shopping. And in other words it's easy for everyone to use. It is not much to do because currently banks has a great hold on the market and banks are conventionally acceptable to everyone but I think it may be happened when bitcoin recognized and legalized across the world and bitcoin declare a global currency. In this situation we may say that now banks are no more needed in the world but it will take some time to be happened. It is not impossible for bitcoin to overcome the banks of the world. |
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Harlot
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October 25, 2017, 03:03:55 PM |
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This may happen. But I think it's a long time to happen and if this happens we're probably already adults. Before this happens I think it is necessary to fully adopt the crypto that is used in simple transactions such as buying groceries, shopping. And in other words it's easy for everyone to use. It is not much to do because currently banks has a great hold on the market and banks are conventionally acceptable to everyone but I think it may be happened when bitcoin recognized and legalized across the world and bitcoin declare a global currency. In this situation we may say that now banks are no more needed in the world but it will take some time to be happened. It is not impossible for bitcoin to overcome the banks of the world. If the Singapore Government will ban Bitcoin exchanges bank accounts what made you think that this country will accept Bitcoin in their local businesses? It won't because obviously they are blocking their bank account in order to render their Bitcoin useless, they are stopping them converting their Bitcoin to Fiat currency via bank deposit. So the next clear step shall be banning Bitcoin and other cryptocurrencies as a mode of payment in their country. |
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Sasha Grey
Member
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Activity: 672
Merit: 10
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October 25, 2017, 04:55:06 PM |
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Bank is the official company that pay taxes, I'm sure the government will protect the bank so that for the near future this is impossible to elimination banks.
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Jgatsby
Full Member
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Activity: 265
Merit: 100
Pretty kewl right?
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October 25, 2017, 05:04:28 PM |
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I doubt that, bank pays a lot of money to the government so I believe government will protect it's interest, and other thing is BTC is still not widely accepted, even with all the proof given on how good it is and the potential it offers, people still doubts it and kinda skeptical on trying it out. so I think it might take a while for BTC to eliminate banks.
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kokobaba880
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October 25, 2017, 05:27:27 PM |
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As we know that the crypto currencies are trying to capture the whole market and that’s why people are giving importance to them but it is not possible to eliminate the whole banks from the world as we know that banking industry is as whole big industry and people are doing thousands of transaction everywhere in the world. The banking industry is now the backbone of economy.
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Tumanggor
Full Member
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Activity: 1050
Merit: 109
1xBit.. recovered their reputation
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October 25, 2017, 06:59:50 PM |
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the Bank is now predicting things that will make them destroyed in the future one of them is Blockchain technology,
Some Banks like have started trying to learn it, and maybe in the future Banks will adopt Blockchain technology ..
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btctube
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October 25, 2017, 07:04:16 PM |
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the Bank is now predicting things that will make them destroyed in the future one of them is Blockchain technology,
Some Banks like have started trying to learn it, and maybe in the future Banks will adopt Blockchain technology ..
They are already starting to develop their own blockchain and some already are using XRP as being announced by them too. They are not going to be left behind but will also not going to just disappear without a fight. Banks will always be here specially when we talk about money. |
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TheAndy500
Sr. Member
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Activity: 1232
Merit: 266
> CAMPAIGN MANAGER < https://t.me/TheAndy500
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October 25, 2017, 07:24:11 PM |
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At this moment not because not everyone in the world has access to the Internet, and the process of setting up accounts and other formulas can be terribly long, so older people may have trouble making such an account.
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kurothesaky
Newbie
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Activity: 16
Merit: 0
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October 25, 2017, 07:26:10 PM |
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The banks still hold a crucial spot for the majority of people, it will be decades until the blockchain will completely remove the banks, though they will adapt and co-exist peacefully.
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hacker1001101001
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October 25, 2017, 07:41:20 PM |
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Is is not a easy job to shutdown all the banks in the world as banks in the world are one of the most important aspect in the worlds economy and it if collapses than it will be a big problem to many peoples. It is not possible to close all the bank but it will be possible to make a big worls bank and all operations to be operated under it. |
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anhhung409
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October 25, 2017, 07:57:15 PM |
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I think it's not necessary when all the bank account information is completely transparent and legal. They should not be used by Bitcoin, the engagement activities will be more and more
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Forts1946
Member
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Activity: 97
Merit: 10
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October 25, 2017, 08:02:18 PM |
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i read some news on CNBC that say in future bank will support blockchain techno but no one say they can support coins
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