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Polar91
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October 24, 2017, 10:10:39 PM |
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what is a bank? it is just a service that is offered on money. these services are so many different things. such as loans, credit cards, savings account, Checking accounts, other types of account i don't know the name of in English  , Insurance stuff, Mortgages, Safty Deposit boxes, ... banks doesn't have to be affected by bitcoin or bockchain technology. it is just a different form of money! Indeed. Banks does not have to be affected with the rise of the bitcoin cryptocurrency that offers a lot more benefits than banks do because there are still people that prefer fiat over cryptocurrency and makes the sense for banks to continue issuing services like what you have said insurance, mortgages, etc. These are the enough for banks to stay in where it is because there are still a large population that do have bank accounts for the storage of their fiat and also to avail different credits offered by the bank. |
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Chrystora123
Full Member
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Activity: 1414
Merit: 228
Omicron is another FUD
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October 24, 2017, 10:23:14 PM |
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Since banks profit from fees and blockchain will kill fees, my guess is banks will be negatively impacted.
Some banks are already stepping into the blockchain world.
But blockchain will not bring back the profits as otherwise.
Any thoughts?
Apologies if this is not the right place to discuss.
Thanks in advance.
I think that, the Bank must have realized that they will not be able to eliminate Bitcoin, if they do not immediately adopt Blockchain technology then it is certain their bank will close.. |
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_Dawid_
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October 24, 2017, 10:24:51 PM |
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Hmm it is very hard to say which was bank would choose. Maybe you will have 0 fee transactions but the account keeping will be paid?
To be honest banks could make own crypto currency.
Many people write that banks will end their work and all of such institutions will be blosed. I dont agree with you at all.Because company which is big as bank with many users etc. can.t just disappear.
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Shishir99
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October 25, 2017, 09:44:26 PM |
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Since banks profit from fees and blockchain will kill fees, my guess is banks will be negatively impacted.
Some banks are already stepping into the blockchain world.
But blockchain will not bring back the profits as otherwise.
Any thoughts?
Apologies if this is not the right place to discuss.
Thanks in advance.
In my opinion Bank will also exist using blockchain technology. They will cut down the fees and increase the technology. Till now there are lots of things that bank offers but blockchain is working on it. |
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pathapoddo
Full Member
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Activity: 448
Merit: 100
CRYPTOCITIZEN $CCASH
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October 26, 2017, 05:41:33 AM |
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Bank will reduce. Everyone will use bitcoin then there will be reduced bank of course.
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kingntking
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Activity: 98
Merit: 11
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October 26, 2017, 02:45:49 PM |
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Banks will become blockchains. States will become blockchains. Give more time for this.
Lol funny. See, try to understand this– no matter what, Banks still remains the reliable institution for saving/financial affairs. Bitcoin and all crypto currencies are just like gold and silver which are stocks meant for investments. Anyone can create a crypto currency, so banks can even create a cryptocurrency for their customers to invest and make profit (and things like that) |
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gyu22
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October 26, 2017, 04:08:45 PM |
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Banks exists since centuries ago and they probably will continue to exist in the future because they provide mechanism for invest and above all for accumulating wealth. But bitcoin and crypto currencies may disrupt part of their business: their intermediacy in transactions seems the more obvious. But also cryptos can be a way of investment of singular and star-up business as ICOs have shown. Banks will continuing running the macro-economy for a while because for the time being is difficult that bitcoin and other coin reach a mainstream adoption.
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BitcoinCommodor
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October 27, 2017, 04:01:12 PM |
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if bitcoin can negatively affect all banks. then certainly the government will not remain silent. and I'm sure the government will shut down Internet access on bitcoin. currently bitcoin will not work if the bank does not want to work with bitcoin.
No, bitcoin doesn't gives a huge impact the banks. Yes, we accept that bitcoin could possible lessen their clients and incoming money inside but totally it won't make banks into disappear. I know banks will make a steps towards crypto and start accepting bitcoins as a payment for their services. Is just a kind of modifications toward the incoming generation. I agree with you, i don't think bitcoin will signal the end of banks but rather i forsee the smarter banks are going to try and integrate bitcoin into their system so that they don't become obsolete with time. There are going to be some modifications for sure along the way. I also do agree with you that bit coin is only a currency which does not meant to end banks although I think that there will the dominancy of the bit coin as crypto and digital currency in these banks you will see only the change in the transaction process. |
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sumanto
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October 27, 2017, 04:06:58 PM |
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Since banks profit from fees and blockchain will kill fees, my guess is banks will be negatively impacted.
Some banks are already stepping into the blockchain world.
But blockchain will not bring back the profits as otherwise.
Any thoughts?
Apologies if this is not the right place to discuss.
Thanks in advance.
banks are increasingly afraid of getting knocked out, because everyone already knows and all can become rich without using the bank, the bank is only a place of withdrawal of money, if the bank does not cooperate with technology there is a bitcoin trading I'm sure the bank will be eliminated. |
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giga_999
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October 27, 2017, 04:12:03 PM |
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Banks will have some problems in the future, but they once who will easily adapt the new money trends and somehow manage to survive.
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cr o w d F o r c e ▸▸▸ [ Private Sale: Open ]
Global Decentralized Network Of Micro Businesses |
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waynechong1995
Full Member
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Activity: 644
Merit: 117
swing!
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October 28, 2017, 08:00:25 AM |
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I am interested in which bank you mentioned are involved in cryptocurrency, please enlighten me xD. Certainly banks would be negatively impacted, but i think the concept of private blockchain might be useful between alliance of bank groups to improve operational efficiency. The emergence of blockchain would NOT kill banks entirely as centralized government need them to function properly. Maybe in stage where cryptocurrency is unstoppable banks would be in a friendly position offering investment plans as well like how it has been in forex or gold/crude trade.
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gabmen
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October 29, 2017, 02:05:49 PM |
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Banks will have some problems in the future, but they once who will easily adapt the new money trends and somehow manage to survive.
Indeed. I don't see anything toppling banks and the current banking system even a few years from now. Bitcoin definitely changes the way we look at handling money but honestly, even bitcoin holders would transfer money to their bank accounts when they feel they're in profit |
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Bella Thorne
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October 30, 2017, 01:42:30 PM |
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Bank will reduce. Everyone will use bitcoin then there will be reduced bank of course.
Banks will be banks forever, eventhough bitcoin is gaining popular, banks will not be ever replaced because is part of the life of peple, and banks is part of how the worlds manage money, so banks will stay and the process of banks will never change. |
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Tiger Junk
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October 30, 2017, 02:33:45 PM |
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Bank will reduce. Everyone will use bitcoin then there will be reduced bank of course.
I think nothing will change in banks, banks will run normal even in the future that bitcoin is popular and almost known by everyone because banks is part of the history of the world so it cannot be dissapper, so it will run normal until the world is there. |
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zeaderza
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October 31, 2017, 12:59:22 PM |
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Bank will reduce. Everyone will use bitcoin then there will be reduced bank of course.
I think nothing will change in banks, banks will run normal even in the future that bitcoin is popular and almost known by everyone because banks is part of the history of the world so it cannot be dissapper, so it will run normal until the world is there. Banks are the need of this modern society. There is no way that we can live a comfortable life without having banks. In my opinion, there is nothing which can result in no banks. Banks will remain there and will keep on helping people in keeping their money and to do number of things. Introduction of crypto currency cannot effect the reputation of banks. Banks are the most essential thing. |
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Soranith
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October 31, 2017, 02:03:59 PM |
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Bank will reduce. Everyone will use bitcoin then there will be reduced bank of course.
I think nothing will change in banks, banks will run normal even in the future that bitcoin is popular and almost known by everyone because banks is part of the history of the world so it cannot be dissapper, so it will run normal until the world is there. Yeah banks will always be around people did not only deposit money in the banks others also keep their other assets in the banks. Banks can use blockchain though to improve their service but I don't see bank disappearing its part of our history and our economy. |
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Xanxus024
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October 31, 2017, 02:52:40 PM |
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I think bank has nothing to worry about that because they have different way of services and the advantages of bank has already established system, bank card's accepted everywhere,can charge to your money back in the even of fraud. But using bitcoin is very convenient and hustle free.
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usorin
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October 31, 2017, 03:44:52 PM |
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To the banks will happen as usual. They will adapt to the market choosing the most viable way form them. If they will fell that the population has an attraction to bitcoin then they will take it more serious.
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shawn995
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October 31, 2017, 04:01:33 PM |
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To the banks will happen as usual. They will adapt to the market choosing the most viable way form them. If they will fell that the population has an attraction to bitcoin then they will take it more serious.
some people are thinking that bitcoin will destroy bank but according to my opinion every country needed a bank system so that they can do business and transfer money to various countries and there is also more need of bank in every country so it is not possible that bitcoin will end the bank system but yes it is possible that it will reduce the value of banks. |
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btctube
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October 31, 2017, 04:06:26 PM |
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To the banks will happen as usual. They will adapt to the market choosing the most viable way form them. If they will fell that the population has an attraction to bitcoin then they will take it more serious.
some people are thinking that bitcoin will destroy bank but according to my opinion every country needed a bank system so that they can do business and transfer money to various countries and there is also more need of bank in every country so it is not possible that bitcoin will end the bank system but yes it is possible that it will reduce the value of banks. According to who?  Banks of course will still exist but they may sound very irrelevant in the next few years specially when one day they most of the government department are already integrating with blockchain technology. Bank will be there still and will still exist the only difference is that they will soon be using blocckchain too just to get along. |
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