Can we totally eliminate all the banks in this world?

[yuukireit]

i think we can't get all banks in the world vanished
because we still need that to doin in some cash cash thing

[PrinceCaspian]

As of now, we cannot. We cannot eliminate the banks in this world because it is not enough for the people to depend themselves from the centralized government and since the government is the dictator of the world then if the government will dictate something about the cryptocurrencies then they will easily eliminate the cryptos.

[Yurkov]

Banks can't be completely eliminated. Now the economy is based on banks. By working with banks, the government can control the flow of money as well as fight against fraud.

[themystick]

I think it's not possible and It's a wrong assumption. The banks should be but how? We should discuss this. How?

[imking]

We can’t eliminate all banks in the world. The percentage of people using their bank account or have some bank account is like 85-90%, and the rate of people using bitcoin’s or other cryptocurrency is not very huge. We can admit that even we have some bitcoin wallet or other we still use our bank account.

[Ramtapsbtc]

I think we can not totally eliminate all the banks around the world at least in our lifetime. The process is complicated and it may take some time. But everything is going there.

[cherrymobile]

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 banks cannot literally eliminate  maybe some people used bitcoin or more people uses it than banks .But in that case banks will never go through illimination.Since banks is part of life also of different people way back how many years .It makes hard to ellimate banks.

[2gether]

I think it is pretty much impossible to eliminate banks entirely, but increased cooperation and involvement between the cryptocurrency space and banks is going to be inevitable.

[kasansa]

Banks are the each and every countries earning/collecting centre to their revenue deposite by the people as well as exports/imports from countries. It's unimaginable how a country with out having his bank where from he can get the money to run her government.So banks are the main sources of income to a country.

[Lora_ng15]

I do not think that it is possible to destroy the banks, rather they will change but they will continue to live

[Hooda_64]

We cannot put banks totally out of operations as there are many day to day operations which banks do. But Bitcoin and the cryptocurrencys can help to reduce the crowd from banks as people can do trading through Bitcoin.

[chillitabit]

that is too huge business to get elminitaed in our lifetime, but maybe once who knows

[dharnamonitor]

Banks won't close, but I'm sure Banks will have to change the way they work. Because virtual currency is the trend of future development.

I agree, it's very impossible that banks will be close,  there are a lot of people who doesnt know bitcoin and some of them are involved in bank, it's either they save their money in bank or their business is involved in the bank.

That's why I said previously that it's impossible to eliminate all the banks in the world. They must have to think a new idea or make an innovation on how the banks should work to be able to adopt the virtual currencies or if not maybe just the blockchain technology only.

[KnightinPink]

Not sure because many banks is already known to be trusted im not saying btc is not trusted im just saying most people grew up using banks thats all thank you

[danim1130]

No we can't there are so many reasons why we can't just eliminate banks in the world because almost all of the jobs in the worlds are made by so many banks also if banks get bankrupt for sure there will  be lack of jobs and business. Less cash too.

[Farhan786]

Using all the banks to save their money, the economies of different countries will create chaos because many rich people will refund all the money that reached in hundreds of billions of dollars, and perhaps it will give many countries an influx and crisis experience, that it is impossible to happen to you.

[phr0stbyt3]

Yes we can but we will need to start this by avoiding banks in a smaller country after its done move to the next country and like this slowly banks will either collapse or accept defeat and will start functioning as per people necessities. By then people can adopt bitcoin

[Crypto Vitriol]

Even if - in case of a general acceptance of bitcoin - their role will be less important, banks will still have a functions in offering any kind of financial services.

[shawn995]

Yes we can but we will need to start this by avoiding banks in a smaller country after its done move to the next country and like this slowly banks will either collapse or accept defeat and will start functioning as per people necessities. By then people can adopt bitcoin

Nope, i am not agree with mate saying that we can eliminate bank from the world because bank system is very strong and old system of the world and all the countries are doing trading and other dealing economically through bank system and if there is no bank system then how countries will deal trading. Every country need a bank system and without bank system i think it is not possible to deal with another country.

[taiwww]

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 banks will never shut down because economic system within banks is really flawless and is best model human have ever created. Government also knows that very well and they will never eliminate that part from the finance system.

Plus crypto is not the working model yet on which we can rely completely and throw all the responsibility at all. Not an option at all I believe.