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Author Topic: Can we totally eliminate all the banks in this world?  (Read 3524 times)
anshul_848
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October 27, 2017, 04:09:15 PM
 #281

No that can never be happened because do you think that virtual currency would be change over fiat currency?
Bitcoin is all way different from banking,
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sumanto
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October 27, 2017, 04:10:36 PM
 #282

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/

yes of course you can, everyone who plays bitcoin is not too thinking about banks, banks only place as withdrawal course, if the bank does not want to cooperate or develop using bitcoin technology then the bank will be eliminated from the economy in this world.

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October 27, 2017, 04:14:59 PM
 #283

If you take a look in the past then you will see that it never happened that all governments have done the same.

Even if governments will start to close exchanges there is still the possibility to mine coins or exchange them person to person. As you can see, closing exchanges can't stop the use of crypto currencies!

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October 27, 2017, 05:14:43 PM
 #284

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/

I am not quite sure that would happen. Government will not and do not want to close banks, because it will disturb the economic stabitlity of the country. In fact, if bitcoin become stronger, i guess the government of a country will look into bitcoin and maybe accept bitcoin as a legal payment.And then many government of a country will try to take opportunity to gain bitcoin as a power, an economically power, as bitcoin growing stronger and countries accept it more.
Even though, let's say, governement restrict the bank acoount and exchange of bitcoin, you still can exchange it from person to person in other country, so it will not affect cryptocurrencies that much.
Well, what i have said is just my opinion.

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October 28, 2017, 05:56:11 AM
 #285

The banks and the government won't allow this to happen for a long time.  Beyond our lifetime indeed.  Elimintating our banking system will cause a global recession due to unemployment, lack of liquidity, etc.
I think there are deliberate around the world. When you will be imposing a system of bitcoin then you must have to make such obligatory decisions in your management and government and banking sectors and all that. When one thing is replaced, the replacing factor would be determined and everything will be made accordingly. So don’t worry, banks will be there for long time.

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October 28, 2017, 07:10:51 AM
 #286

I don't think so for the next few decades, any country would require banks to handle financial or currency matters, banks are entity that are crucial for any country foundation as they managed assets and fiats we are using professionaly. Solely rely on cryptocurrency/block-chain is overly ambitious and not favorable to the world, even though everything regarding monetary transaction could be soon automated by blockchain technology that eliminate middlemen, banks are likely to exist as long there are fiats in the world.

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November 10, 2017, 10:23:47 PM
 #287

In the current form it is possible in full, but some of them simply re-qualify and remain a new market, most will die and other organizations will come to take its place! Do not forget that these are sufficiently rich and influential structures, they have enough power and information to rebuild in time  Shocked

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November 10, 2017, 10:40:50 PM
 #288

No, how can we deposit money and how can be our salary be distribute. It is very hard to mind that people  are being paid with cheques we can't pay them without banks. Two words are being describe to this, In Sane getting the banks out of the world continues our great depressions many companies are attached to banks.

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November 10, 2017, 10:50:26 PM
 #289

No, how can we deposit money and how can be our salary be distribute. It is very hard to mind that people  are being paid with cheques we can't pay them without banks. Two words are being describe to this, In Sane getting the banks out of the world continues our great depressions many companies are attached to banks.

There's no need to eliminate banks, we used bank for cashing out, it will be much easier for us to do transactions now since we have options and btc were not yet regulated in some countries,that's why we still need banks.

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Dodoymabs
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November 10, 2017, 11:23:38 PM
 #290

I don't think so for the next few decades, any country would require banks to handle financial or currency matters, banks are entity that are crucial for any country foundation as they managed assets and fiats we are using professionaly. Solely rely on cryptocurrency/block-chain is overly ambitious and not favorable to the world, even though everything regarding monetary transaction could be soon automated by blockchain technology that eliminate middlemen, banks are likely to exist as long there are fiats in the world.

Yes i do agree with you because without paper money, the criminal class would have to use banks, greatly increasing their chance of detection, or use a vastly more troublesome means of exchange. The increased oversight raises privacy concerns for law-abiding citizens, but experts point to a big societal payoff. Government also concerned about criminal activity so banks will still remain and can not be eliminated.

nethan1btc
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November 10, 2017, 11:38:27 PM
 #291

No, how can we deposit money and how can be our salary be distribute. It is very hard to mind that people  are being paid with cheques we can't pay them without banks. Two words are being describe to this, In Sane getting the banks out of the world continues our great depressions many companies are attached to banks.
I agree with you, we cannot easily eliminate bank due to the fact, this the only way for us to get ou earned frim bitcoin. And with theh of the bank you can able to convert your bitcoin to fiat currency. Governments will never let banks be extinct due to the fact that this is the only way for them to handle money and bank are all centralized system.


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jerowacik
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November 10, 2017, 11:38:54 PM
 #292

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/
I think the Bank will remain, all financial conditions can not be completely abandoned and replaced with the new system. there must be a transition, but it will not have a big impact because some people will believe in a system and some are using both. so I think whatever the current conditions then the Bank will still have their respective enthusiasts.

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November 10, 2017, 11:48:40 PM
 #293

No. Because banks are in our society ling time ago and it is not easy to eliminate it. And many people are going into bank to save their money their.

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November 10, 2017, 11:51:07 PM
 #294

cant.
we cant destroy bank, moreover bank in all the world.
they do what they do. i mean, what bitcoin cant do but bank can do it. and not at all people will go to bitcoin. old people will choice bank if they need some trouble in financial

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November 11, 2017, 12:37:00 AM
 #295

What do banks do ? It is not only about savings and investment, the main reason why banks exist is to lend people loans. If cryptocurrencies somehow in the future make a system which provides loans to people. I think thats the time we should think to shut down banks.

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November 11, 2017, 02:07:44 AM
 #296

No. Because banks are in our society ling time ago and it is not easy to eliminate it. And many people are going into bank to save their money their.
We should not try to destroy banks because it is just a waste of time and it is better to stick with improving the cryptocurrencies and not minding the banks because banks has its own purpose and i can say that bitcoin and other cryptocurrencies will be on the other side in the future and there will be no banks or cryptocurrencies that will disappear.

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November 11, 2017, 03:38:07 AM
 #297

If the bank is eliminated in total, then the overall bitcoin in the online wallet / ofline will be frozen (no significant progress) because there is no sale or buy transaction or exchange.
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November 12, 2017, 03:40:09 AM
 #298

Its a NO for me . I know and I witness how bitcoin is helping people from getting instant job and how bitcoin ease somehow  all the payment method  (well it still depends) and we all know trying to not being hypocrite here ..we really don't assure our investment n bitcoin specially there is no strong security to keep your coin safe if you are trying to keep it then use when the bitcoin goes up you will  never know whats gonna happen and all your bitcoin is gone already and you have nothing to do about it its just like saving it in Casino banks are all secured sometimes or maybe all the time there is or was an annomaly in it but atleast we can trace all are savings and money  because thats part of their protocol is to secure all the records and everytime to lifetime..


well just maybe 50 to 100 years from now they gonna have ways to eiminate banks who knows right? but as this generation on thats not really possible.

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November 12, 2017, 04:00:06 AM
 #299

Its a NO for me . I know and I witness how bitcoin is helping people from getting instant job and how bitcoin ease somehow  all the payment method  (well it still depends) and we all know trying to not being hypocrite here ..we really don't assure our investment n bitcoin specially there is no strong security to keep your coin safe if you are trying to keep it then use when the bitcoin goes up you will  never know whats gonna happen and all your bitcoin is gone already and you have nothing to do about it its just like saving it in Casino banks are all secured sometimes or maybe all the time there is or was an annomaly in it but atleast we can trace all are savings and money  because thats part of their protocol is to secure all the records and everytime to lifetime..


well just maybe 50 to 100 years from now they gonna have ways to eiminate banks who knows right? but as this generation on thats not really possible.
It is not yet enough though to eliminate bank for now, it is unlikely to happen nowadays, yes bitcoin has come so far but not yet enough, you are right maybe after a half a decade or more to eliminate bank but not now, it cannot happen so many steps to consider and bank play a big role in our society so it is impossible to eliminate them.

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November 12, 2017, 06:11:38 AM
 #300

Its a NO for me . I know and I witness how bitcoin is helping people from getting instant job and how bitcoin ease somehow  all the payment method  (well it still depends) and we all know trying to not being hypocrite here ..we really don't assure our investment n bitcoin specially there is no strong security to keep your coin safe if you are trying to keep it then use when the bitcoin goes up you will  never know whats gonna happen and all your bitcoin is gone already and you have nothing to do about it its just like saving it in Casino banks are all secured sometimes or maybe all the time there is or was an annomaly in it but atleast we can trace all are savings and money  because thats part of their protocol is to secure all the records and everytime to lifetime..


well just maybe 50 to 100 years from now they gonna have ways to eiminate banks who knows right? but as this generation on thats not really possible.
It is not yet enough though to eliminate bank for now, it is unlikely to happen nowadays, yes bitcoin has come so far but not yet enough, you are right maybe after a half a decade or more to eliminate bank but not now, it cannot happen so many steps to consider and bank play a big role in our society so it is impossible to eliminate them.


For me, banks are very hard to eliminate into the entire world to replace it with digital currencies. Why? Because banks are already known for the entire world to be transacted with a huge money investment and basis of safe keeping deposited money not only by simple people but the whole world.

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