Can we totally eliminate all the banks in this world?

[DRVX]

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/

All the banks of the world can not be destroyed, because it is a very profitable business and their owners take care of the existence of banks. Personally, I do not see anything wrong with this if they do not prohibit crypto currency.

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[fleda]

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/

Definitely no. Crypto currency cannot shutdown all the banks that holds our money. Without these banks, digital crypto currency is also useless / priceless. In order for us to gain money is to convert our coins into fiat. We all know that all the money we have was came from the banks because they are the one who created it.

[Ghondronk]

obviously can not, the bank has a conventional currency in which the currency is still needed for the transaction and is still the main money to exchange, in contrast to the btc which is still the electronic money

[compimprove]

I think the bank just change the way the work, not totally eliminate.

[Janodevera]

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. You’ve seen pictures of these gigantic bales of money international drug dealers are found with, says Richard Wright, chair of the justice and criminology department at Georgia State University. Without cash, what are you going to trade for drugs you can transmit funds electronically, but that’s much riskier because it’s much more traceable. Calling for the elimination of cash is no longer the truly radical position it once was, and the need to eliminate of the most dangerous types of bills is becoming conventional wisdom

[skillink]

I think it will be very difficult to eliminate the bank because of the system and support of many people, whereas many systems are better than the banks

[pleght]

I think this is something that can be achieved.But it is not something that happens instantly.We need time.

[bitchubitchu]

Who knows what will happen in the future,but for now let us all enjoy  what cryptocurrency can gives us and can do to change our lives.

[Crafts12]

I think it will be very difficult to eliminate the bank because of the system and support of many people, whereas many systems are better than the banks

Actually its not difficult because we cannot elimanate banks. They are established strong and they are supported by almost all people in one country especially the governments. Do you think government will allow it, remember that not all of them are accepting bitcoin se country banned it because they doesnt want to have access on it in their bank because of the different characteristic of cryptocurrencies.

[BitcoinTurk]

It is neither very easy nor easy to delete the banks from the markets. Although the crypto money market is active and powerful, unfortunately it can not manage to erase such large organizations. Moreover, considering many transactions and transaction types, it seems totally impossible that banks will think that we are in the crypto money market using the tool. It is a possibility that a crypto money bank will be established after a while.

[pisston]

It is neither very easy nor easy to delete the banks from the markets. Although the crypto money market is active and powerful, unfortunately it can not manage to erase such large organizations. Moreover, considering many transactions and transaction types, it seems totally impossible that banks will think that we are in the crypto money market using the tool. It is a possibility that a crypto money bank will be established after a while.

you look in the topic of bounty altcoin and see that already today there are some projects that want to produce banks for crypto currency. I think the banking system will still exist, in one form or another.

[Dragon5]

Should they be eliminated? Banks really contribute to world economics, providing businesses with credits and enabling people to make transactions. On the other sides, banks want to make too much profit, which is unbearable for many. Insane.

[SadEmo]

I'm sure that we can't eliminate banks just by using cryptocurrencies. Banks protected by government all over the world and they faster will ban bitcoin insteed of close bank.

[cryptoalfs76]

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/

We have a bright in the cryptocurriencies but that future  of cryptocurriencies is depend on the situation of there countries,because if that coumtry is prohibited in doing some digital curriencies activities ,that countries is poor in economic growth and capitalism,but if that countries is allowing or legalizing bitcoin to operate,or making a partnership in the bank in terms of progressing the economy,that country have a bright future,just like happen in the country of japan,that allowing all kinds of cryptocurrency.

[stayeduptolate]

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 know bitcoin has Come a long way since it had started and in its journey it has gained a lot of popularity and users throughout the world. But still I don’t think that bitcoin can eliminate banks from the world because firstly, banks are way more popular than bitcoin and they have way more users than bitcoin through out the world. Secondly, banks are more trusted than bitcoin and banks regulate the currency of any nation whereas bitcoin is not regulated by any bank or government.

[whitecaramel1]

I don't think so.I think,we need to the banks every time.because people use the real money on the world everytime.

[Similificator]

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 know bitcoin has Come a long way since it had started and in its journey it has gained a lot of popularity and users throughout the world. But still I don’t think that bitcoin can eliminate banks from the world because firstly, banks are way more popular than bitcoin and they have way more users than bitcoin through out the world. Secondly, banks are more trusted than bitcoin and banks regulate the currency of any nation whereas bitcoin is not regulated by any bank or government.

I absolutely agree with you op. Even with all the love and support that I give on bitcoins, I still honestly do not think that banks should disappear. But you forgot to mention that there are way more important reasons other than popularity and trust. And those are things like, supply, usage, debit system and so much more. Which is why bitcoins still cannot be something that can replace banks and fiat money. Of all the issues it currently has, bitcoins has, it just obviously isn't ready yet.

[Sate Jamu]

I think it is impossible, industry and economy desperately need banks to do everything related to finance, in addition the level of human dependence on banks is so high that the presence of banks like the heart in life.

[Farvin2]

What's the point we eliminate bank? , We are still going to need it. Whether you like it or not, Banks would not be eliminated that is in the near future at least. Banks are also one of the main means to cash out bitcoin so I don't understand why would someone thinks that banks can be eliminated.

[pauuui]

It's impossible to eliminate all the banks in the world. Even though we could see a bright future with the cryptocurrencies, it will only be limited to markets that will accept cryptocurrencies and the cryptomarket. But we will not know what will happen to the future so just hope for the best.