Can we totally eliminate all the banks in this world?

[BlockchainTalksInfo]

I don't think we can eliminate the banks, maybe some commercial banks, but we still need central banks. Banks are institutions that Governments work with to build the infrastructure for our civilization and also I don't think we can "decentralize everything"

[s2sallbygrace]

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/

banks to be totally eliminated would be very impossible except if the bank gets bankrupt and don't get fund anymore from the bank users or clients, that's the time the bank will be close but not eliminated at all. There are banks that's connected to the government so the competition between cryptocurrency and bank is quite crucial. Banks in every country is doing their best to modify and modernize their system to give good service to their clients and to be more competitive over cryptocurrency. Eliminating them is merely inpossible.

[Komobit]

Photografy did not killed painting.

Cinema did not killet photografy.

We can go on forever but the main point is: bitcoin is not here to kill banks.

Banks mey need to adapt and develop but they will not die.

[s2sallbygrace]

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/

maybe it's possible if the people stop using banks for saving their money. That's is why bank is now very competitive over cryptovurrency. For sure banks has still many options to keep their clients and to stay in the business much longer.

[BossMacko]

It is impossible to eliminate all the banks in the world even if crypto coins become really popular to everyone still not everyone will use cryptocurrencies, people will still use flat currencies to buy there basic needs without hassle like food etc so as long as there are people using flat currencies banks will not dissappear.

[PalindromemordnilaP]

I think it is much more likely that all the banks in the word eliminate YOU, if you ever try something like that. They have already murdered whoever was standing in their way, including several presidents of the United States.

And on top of that, whether we like it or not, there are countries that are against cryptocurrencies who are imposing their rules to not allow crypto transactions especially for those government owned banks.

[An0nyMoose]

Who is we? I don't think we can. Humans could if they worked together. Bitcoiners alone can't.

There's no need to eliminate banks. I really dislike most banks but the essence of a bank is fine. We should just punish corruption and mistakes more in banking.

[toxic0n]

I know bitcoin has Come far since it had begun and in its trip it has picked up a great deal of fame and clients all through the world. Yet at the same time I don't surmise that bitcoin can dispense with banks from the world on the grounds that initially, banks are much more mainstream than bitcoin and they have far a bigger number of clients than bitcoin all through the world. Furthermore, banks are more trusted than bitcoin and banks control the cash of any country though bitcoin isn't directed by any bank or government.

[kokobaba880]

No the banks are good in the country because the banks and financial institutions are good for the prosperous economy the financial institutions are playing a vital role in the economy it is good to hold these crypto coins for future and now it is better for us to keep an eye on the bitcoin price and the related other crypto growing coins for now.

[warr1979]

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 government dupports banks and not cryptocurrency so as long as the government supports banks they will not be eleminated and besides there are other services banks do that bitcoin or exchanges will be able to fulfill so banks are not really and totally enemies of cryptocurrency.

At least the current, I don't know anything from cryptocurrency can make the banks will be disappear someday.
However, the banks must to apply blockchain technology to the banking system as soon as possible, IMO.
They won't need to care anything about security if they use blockchain, except corruption .

[cahbagus555]

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 its hard to eliminate the bank. I am believe that banks will evolve and shift their bussiness because cryptocurrency. Well known Investment bank Goldman Sachs just buying one of big crypto exchange and thats must have a purpose beside making profits

[EnricoGomez]

Banks cannot be removed completely. Banks do different services than transaction just like having deposits from their customers and having their monthly interests with it and they also lend money to people as loan. And some banks suffers in their transaction lines because of cryptocurency. Some banks thinks that bitcoin as their rival and not the block chain and they are now adopting to this technology.

[Kizaki]

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, if the banks won't learn to adapt to the changes that the cryptocurrency has brought onto us, then there's a high chance that the banks will not survive at all. Still, I believe that the banks are capable of innovating their system, so there is really no need for them to be eliminated. I guess we'll just have to see.

[Boromon]

Banks have importance because it also gives a lot to the people. And there is no reason that banks should be eliminated even if they have experiencing decrease the numbers of clients. Banks will always be here specially when we talk about money.

[soname12]

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 can not eliminate all banks because they are the place to control wealth and governments protect it. Governments protect it because it helps them know who is rich and gives them a huge tax.

[Toden1379]

I think there will be misunderstandings with your subject and your post. Basically it's about government closing down the "accounts" of exchanges or bitcoin related businesses. Nobody can totally close out a bank unless the bank losses a vast majority of its depositors or when they go bankrupt due to their investments failing, etc.

[syaripudin]

I think with the existence of crypto currency as a new technology about financial diera digital today does not mean will eliminate banks that have become centralized financial circulation. which will allow in the future many banks will use blockhaind technology to create new systems and certainly with some rules that will be implemented by the government.

[Bitlord88]

I don't think this is the final solution towards the full blown use of cryptocurrencies; if perchance a country has chosen to shut down all their bank assets and companies, it would definitely trigger an economic shutdown as business and companies also rely on banks service to make their money flow and one just cannot convert or change to a cryptocurrency adopter in a snap. Rather what we should aim is for banks and cryptocurrencies to correlate and jive with each other, taking benefits from both systems.

[tbalazs]

As far as I see, we can not eliminiate banks for now since I can not use the crypto bank card everywhere for now. How can you buy something at papsmoms shop that is only accepting cash?
On the other hand these cards are limited that you can use for crypto/mastercards.
I hope this will change soon.

[noictib]

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/

No this is not possible for anyone to close all the banking system in this world because they are in big need and also they are playing an important role for the economy of the world where they take money from the people and use that amount of money in the business market like big big companies and also giving loan to the naother people and collecting better amount of tax to give better services .
And also banking system are giving better ease for the cryptocurrency market to use it to make money , many people are making the transaction for the Fiat to crypto and vice versa .
So here no chance for the banking sector to get close all forever , they are existing and are using by us forever for better use .