Can we totally eliminate all the banks in this world?

[Nivir]

There will always be banks or any financial systems that will be followed as a standard worldwide. What we can do is change the current system and replace it with something new like decentralization.

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[ReindeerOnMe]

In my opinion, we can’t eliminate all the banks in this world even bitcoin price reach at $100k because banks are the most useful and how you can convert your bitcoin into real money if you can cash it out. Bitcoin can’t eliminate all the banks because bitcoin is just a digital currency and some country already ban bitcoin for some reason, so bitcoin has a little chance to remove all the banks.

Useful in converting our bitcoins into fiat? I don't think so since there are a lot of other ways when I convert my bitcoin into fiat. We cannot eliminate banks since fiat or the conventional currency will not be replaced by digital currency that easily. There are a lot of countries that are still not exposed to that digital currency  usage especially the people of it. It is still not that stable as a currency and it will greatly affect the country's economy.

[removebeforeflight]

Cryptocurrencies may make all the banks in world eliminate probably in another 5 to 10 years from now. This will not happen in a whole,but would happen part by part,country by country. Digital currency is still not known to few countries and digital currency is the future for many countries like Japan for example.

[ardyology]

I don't think there's a need for banks to be eliminated. It will bring global chaos to the economy if that indeed happens. However, I would love crypto currencies to somehow neutralize or balance the banking system. Both of them can actually co-exist whichever floats the boat to an end-user's perspective. Both of them have pros and cons and that's the beauty of living in this modern world...you got the best of both worlds.

[nightxglow]

Why should we do that? Bank is also something important to control inflation, and also there are many other advantages too. That's why bank is still appear now, and we obviously need it.
Without bank, i can imagine world become chaos. Cryptocurrency is fine by itself now, even when there's bank. But is it certain that we will be fine if bank disappear? i don't think so.

[jaysabi]

This is an illusion! we cannot absolutely eradicate banks in the world, even if bitcoin's price reaches $100,000 this will never be enough to gold deposit of our planet which means if bitcoin's price increases and so the gold too! the fiat money will also increase and the need for that is much important than cryptocurrency. Banks are centralized system with the control of government and big named personalities, like Rothschild.

Money is just a representation of all the value that is created in the world. When you create a good or perform a service, that has a value to someone who will consume it. Money is a medium of exchange to allow people to trade whatever it is they produce that creates value for the goods or services created by other people. The value that is created in the world is how much wealth there is, and money is just a representation of that, an easy way to quantify it. Because value comes from goods/services (not money), the amount of value divided by the amount of money in existence determines how much money is worth. When goods/services expand faster than the money supply, money is worth more. This is not typical though, generally the money supply grows faster than the value of goods/services created in an economy, which is called inflation and the reason money loses value over time.

[katarin2030]

Why should we do that? Bank is also something important to control inflation, and also there are many other advantages too. That's why bank is still appear now, and we obviously need it.
Without bank, i can imagine world become chaos. Cryptocurrency is fine by itself now, even when there's bank. But is it certain that we will be fine if bank disappear? i don't think so.

Impossible to eliminate all the banks, so many people all over the world getting benefits from the banks in one or other way. Banks have almost become the part of the life for people gives economic support so doing useful work, banks roots are very strongly established so impossible to vanish the banks.

[deadthings]

No we unfortunately couldn't, even if people are just coming and investing in bitcoin, it is getting more popular and easier to use it on global scale we can't just make it global currency and close whole banks cause of some goverments in countries which making bitcoin illegal.

[MrRiuss]

no you cant, if no bank, there are still a third party that involve between us

[Fortnight]

No. The most important function of banks is to facilitate the flow of funds from savers to investors who represent good credit risks. Instead of having to search for people or businesses to make viable loans to, savers can simply make time deposits and rely on the bank’s expertise.

[Kamote_1102]

I don't think so. It has been long established and the Bank always find its way to stay in the business. their banking system is evolving and there's a lot of innovation is happening. maybe some banks will close but not the major banks. for as long as there is Physical Currency in the World, the Bank will always exist. unless the World government implements the cashless society in every country, that's the time that maybe we no longer need the banking system anymore

[bitbunnny]

This is not possible, not now and not in the near future.
Banks have changed their way of doing business and some changes will still be made but they will continue to exists. The whole world economy is depending on banks as well as governments and cryptocurrencies can't change that.
To believe that Bitcoin will replace banks and make new economy system is just utopia.

[JL421]

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/

Fiat is circulated widely around the world. No cryptocurrencies can take over banks as the market share, Demand and supply of fiat is very high. Technology may make digital currencies more powerful than ever, but laymen will always depend on fiat most of the time.

[Paul stuart]

I am not for the destruction of the banks but more a revaluation of the use of the banks in our society, yes the banks are important but should not have so much grip on us

[Jembut Ireng]

I think this is a difficult thing, banks are the official state-protected institutions and the presence of banks is vital for being the cornerstone of the economy of all countries.

[hackzang12]

Right now we can't do that because it's use by our generation just wait for next few years to come and the world will change to a better.. we could see a peer to peer transactions without 3rd party provider.

[Tenderino]

What is the future of online gambling when all the government need to do is to close the bank accounts of casinos?

The answer is simple, the governments can not close all bank accounts of all businesses and exchanges, because there will be always countries that will allow it for their own financial benefit. Despite of this, you have still the option to mine coins or buy them from other people directly.

[francojon]

What is the future of online gambling when all the government need to do is to close the bank accounts of casinos?

The answer is simple, the governments can not close all bank accounts of all businesses and exchanges, because there will be always countries that will allow it for their own financial benefit. Despite of this, you have still the option to mine coins or buy them from other people directly.

We probably can´t but anyway, why would we want to do such a thing. It always better to have more than one option to work with.

[God Fist]

Eliminating a system that has existed for so long is nearly impossible , especially that it's backed by the people -who are a majority in the world - that doesn't know shit about cryptos or blockchain technology . Bitcoin and cryptocurrencies are considered as an alternative to the traditional banking system , and unless it's the opposite , we can't even think about that . There's now a total of $828 billions invested in the cryptocurrnecies market , and that isn't even near to what banks own of gold , and that's why these hypotheses are nearly impossible to happen .  

[avia]

I don't think banks can ever be eliminated, it had existed for centuries and somehow we have adopted it ever since and it had made some modifications depending on the community's demand and our needs. Other that that, despite the rising popularity of bitcoin, we will still need banks and there are still more people who don't approve with bitcoin. Moreover, governments would most likely sode with a centralized system rather than a decentralized one.