Can we totally eliminate all the banks in this world?

[cybersofts]

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/

In future perhaps, but it is not possible right now. Banks still control everything in the our communities there is no way to exclude them in our businesses. In fact, banks are the placess where we put our money when we want to cash in. After we put the money in the banks then we use our VISA/MasterCard to buy bitcoin for God's sake. 

[blue_nexus15]

If indeed all countries and people around the world use bitcoins and other altcoins in their transactions, then the banking system will have no value at all. But this is hardly possible at least in the next 30 years. Since some countries are poor by developing agriculture, people have low levels of awareness and knowledge, this prevents them from accessing bitcoin and the crypto world, which is a big disadvantage to they.

[francojon]

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/

Nothing would give me more joy than believing this could be true. Banks give a service to society but take much more from it. IMO they are parasites and should be heavily regulated or eliminated.

[richmcrich]

Don't believe so, at least not in the near future. Banks have too large of a grip on society, and many influential figures will continue supporting them blindly. These people will need to be made aware of the blockchain and maybe once banks lose their support, will they be eliminated.

Agreed! Elimination of the banks from this society is not that much easy thing to do as it really seems to be. The need of bank will remain there till the time there is an existence of paper money in this world. There are chances that the need of banks get reduced, thus decreasing the number of banks which are there across the world but it cannot entirely wipe out the existence of banks.

[intoy_victor]

No it definitely not. It is very impossible to eliminate bank's. They study first about the bitcoin before they will accept it. It will a big issue or crisis of country if they don't have banks. Where they will deposit their money like those rich people.

Moreover crypto currencies is a digital money if want to claim it you should get in banks, then if we don't have banks do you we have a visual currincies.

Maybe it could reduce only in future but to eliminate it, it is impossible.

[balakang00]

I don't think that will happen in the near future because as long as cash is alive, a bank will be needed and I don't thing it will come a time where cash would be abolished because after all it is the default money system and it is too big to be diminished.

[mjloulie]

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/

The process of replacing all the banks in the world is too long. If the fiat money change into a cryto i think it is the time that the banks will eliminate.

[emezh10]

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/

Bitcoin is the only one currency which is dealing people and people are coming attract to bitcoin because bitcoin is the only currency which having future well if we think about ETH then it is also quite good for future.

I do believe that banks from past years of old times really accepts only one currency, but as of todays modernization of banking technology, banks were more aware and accepting exchanges from digital to fiat currency. Sometimes it's getting redundant to read this questions so far, because bank will not be eliminated due to it's purpose is highly recognized by people around the world.

Banks are related to currency, they are created to facilitate financing and exchange. Right now, businesses are very dependent on banks, because it is their means of speeding up their transaction. Bitcoin as a form of currency, will have to undergo certain corrections or modification to allow a wider coverage to fill up the shoes where banks are in right now.

[Ninmag]

Bank is not a public facility that can be easily removed, this bank is very safe and protected because there are always smart people in it. the bank is a very important tool for society and dunia.apabila banks will be eliminated will occur feud between the community and government. The Bank has special facility facilities. We can transfer, store, borrow and exchange local and long distance money. and bitcoin does not fully have this facility.so this will be difficult to solve.

[Mahbub91]

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 government to close down all bank account may not be feasible outrightly but bitcointalk.org should be adopted in stages and closely monitor the success and it challenges thereafter compare it gains with the current fiat system surely they will be convinced.

[Zentor]

Maybe in a few hundreds years, but I don`t think that we need to do it fast, at least they can give some guaranties and stop fraud now

[Bella Thorne]

Maybe in a few hundreds years, but I don`t think that we need to do it fast, at least they can give some guaranties and stop fraud now

For me even many years will come, i dont think that bitcoin can eliminate banks in this world why? Because in this banks is known by everyone and banks has a big roles in thia world and in this economy so eventhough bitcoin will became more greaf i dont think that it can eliminate banks in this world.

[marcbitcoins]

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/

If you want to eliminate the banks then who will keep our huge money from bitcoin earnings? or you will just bury it in the ground? I don't favor that bank shall be close because every time we convert bitcoin to fiat we could get our money in the bank and ask them to keep it therefore if you want the bank will be eliminated it needs bitcoin to become the only currency that will be use in the whole world in which it is very impossible to happen because not all people do not know how bitcoin will work.

[0t3p0t]

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/

Well, I don't think if that's gonna happen but who knows? Governments get some money through taxes that can be used for the improvements of a specific country so if they are closing all exchanges and banks, there is no doubt for a super bright future of cryptocurrencies but are we ready enough to face the volatility and blockchain related issues like fees and delays? And let our economy crash due to unstable currency? I know that it is a bad idea to eliminate those centralized asset I mean I think we need them both, crypto and fiat.

[alexsandria]

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 no, because we all know that bitcoin isn't strong enough to overcome or to destroy all the banks in the world. And we all know that most of the time people are more likely to stay and be on banks when saving money because they knew that in there money isn't risky unlike in bitcoin, the value isn't available.

[-avp]

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/

Closing all banks are impossible. They are too smart and have too much power(money). Although the future of crypto currency is looking really bright right now. 

[thugpi]

I don't think bitcoin can eliminate bank because bitcoin is used through gadget and not all can afford yo buy one so that we can't eliminate money and bank

[bribed]

I really dont think that something like this will happen. The banks arent not just watching from the sidelines while the worlds population is turning towards cryptocurrencies. They surely will try anything to stay in power, and its likely that they will find their ways to do so.

On top of that: banks are needed, not everyone is able to handle his money on his own. But I believe that banks will have to change the way they work big time. The time of creating new money with every credit they hand out will be over and they will finally have to work for the people and not only for their profit margin.

[longskie0327]

I don't think bank will be totally eliminated in this world because people are more familiar and used to bank for their money and all that they may embrace it system by using blockchain but they will not totally deleted it Bank is already b part of the society and economy of one's country.

[ChrishAi28]

No, we can not eliminate all banks in the world. We, all of us need a place (bank) to save our earnings (money) to be secure in times of calamities. For example if our money is only at home, we can not protect it in stealing, fire and flood.