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Author Topic: Is Bitcoin replacing the future banking system ?  (Read 349 times)
ETHtotheMOON1
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May 26, 2018, 04:54:33 PM
 #101

yes it could, maybe the system will be different from the Bank, because the Bitcoin system is run by Blockchain, and maybe the Bank can cooperate with Bitcoin, by implementing Blockchain technology on the banking transaction system.

I believe it's already replacing the system. Banks are heavily investing in using blockchain technology for their internal needs. They won't get bankrupt because of bitcoin, they're trying to find the ways to apply blockchain, so when bitcoin takes over fiat in some parts of the world, they will still be able to offer derivates and other markets.

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May 26, 2018, 05:25:09 PM
 #102

I was thinking about the Bitcoin and it's Future in Banking . can it remplace money in transactions ?

Bitcoin blockchain could be used for future transactions with money, but not bitcoin itself.
Governments and banks already testing blockchain in their needs, performing test transactions from one country to another using blockchain.
One of reason to do so is, human factor - with usage of blockchain there will be no human mistakes in payment operations.
Highly unlikely that governments will use bitcoin for transactions, as they can't control it, as well as highly volatile price of this asset.

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May 26, 2018, 05:32:21 PM
 #103

The most valuable thing about Bitcoin is that he introduced the technology of blockchain to the world. here it is just able to improve the existing banking system. It greatly improves the speed, confidentiality and security of sending money. Blockchain is power. Its potential to change the world can be compared with the potential of the Internet.

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May 26, 2018, 05:33:41 PM
 #104

I was thinking about the Bitcoin and it's Future in Banking . can it remplace money in transactions ?

Bitcoin blockchain could be used for future transactions with money, but not bitcoin itself.
Governments and banks already testing blockchain in their needs, performing test transactions from one country to another using blockchain.
One of reason to do so is, human factor - with usage of blockchain there will be no human mistakes in payment operations.
Highly unlikely that governments will use bitcoin for transactions, as they can't control it, as well as highly volatile price of this asset.
you have a point it can actually be used for but not bitcoin by itself to used in a transaction where we can be able to see and used this as like as a fiat and as just how the internet must have some development this is where bitcoin may does too.

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May 26, 2018, 05:35:09 PM
 #105

Why does anybody think that something needs to be replaced, these two can both work with the presence of the other. We need to get the most out of both therefore let them work best at what they do and use them as is. Bitcoin can be used as your digital currency and store using wallets, and banks can do banking stuff where you store your physical money.

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May 26, 2018, 05:37:29 PM
 #106

I was thinking about the Bitcoin and it's Future in Banking . can it remplace money in transactions ?

Certainly not in my country. If you will visit a rural bank in my country , you will find that 90 % of them cannot even fill the bank forms by themselves. I do not expect them to use bitcoins ever in their life. I am not talking about old people only but even the younger generation is not that tech savvy in developing countries.

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May 26, 2018, 06:01:04 PM
 #107

not anytime soon, but does have a potential
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May 26, 2018, 06:01:28 PM
 #108

I was thinking about the Bitcoin and it's Future in Banking . can it remplace money in transactions ?
Bitcoin and the banking system perform completely different tasks and functions. Therefore, bitcoin has no chance to replace the banking system as a whole. Bitcoin is primarily a means of payment, that is, money and, in addition, it is now largely used as a repository of value. In addition to these functions, banks perform many different other functions. First of all, in any state, banks define the credit and financial policy, they credit certain sectors of the economy, help the state fulfill the plans for the country's economic development. Bitcoin of these functions can not perform. Moreover, due to its high volatility, it is capable of completely imbalancing the economy of any strong state.

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May 27, 2018, 12:14:18 PM
 #109

I was thinking about the Bitcoin and it's Future in Banking . can it remplace money in transactions ?
Yes. I do believe that bitcoin is in a way replacing the future banking system and it also has the right amount of potential of doing so. This is because since bitcoin has started. It has gained a lot of popularity among the people all around the world because of which it has gained a lot of potential investors and potential users who are ready to invest in bitcoin. This signifies that bitcoin’ Demand among the people is increasing a lot. All this is evident from the increasing price of bitcoin daily.

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May 27, 2018, 12:30:02 PM
 #110

I was thinking about the Bitcoin and it's Future in Banking . can it remplace money in transactions ?

There are more rumors about bitcoin will replace the existing money that we used and called as fiat. But I think it will be hard for bitcoin to replace fiat since bitcoin is being banned on other country and many countries until now do not have trust on digital currency. I think bitcoin will not lose because many people uses bitcoin and also it has many investors as well as supporters. Bitcoin can also replace the future banking since bitcoin is used to pay bills and any other.

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May 27, 2018, 12:31:29 PM
 #111

Each country has a central bank that is used as a tool to support economic stability in the country. Another case if the country makes its own crypto currency it could be an alternative to the ease and financial advancement of the system in the future.Bitcoin cannot be accessed easily unless we have internet.
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May 28, 2018, 03:10:58 AM
 #112

 There are so many advantages if blockchain could be implemented on the our conventional bank system such as lowering cost, cut middleman, acceleration etc. I'm waiting for the firs bank in this world fully adopt it.
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May 28, 2018, 03:56:09 AM
 #113

Im sure the bitcoin will replace any banking system, too much lack in it, and i think right now bitcoin is only great on campaign of decentralized exchange.
all the rest still in the bank system, we need to great at all that already exist in the banking system. anyway, there's still a lot people which more pros on banking system than bitcoin.

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May 28, 2018, 03:57:51 AM
 #114

I was thinking about the Bitcoin and it's Future in Banking . can it remplace money in transactions ?

no bitcoin is only disrupting them, bitcoin isnt capable doing that, as promised in the marketing campaign, "bitcoin the a future world currency"

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May 28, 2018, 04:17:07 AM
 #115

Im sure the bitcoin will replace any banking system, too much lack in it, and i think right now bitcoin is only great on campaign of decentralized exchange.
all the rest still in the bank system, we need to great at all that already exist in the banking system. anyway, there's still a lot people which more pros on banking system than bitcoin.

Well, having this new innovation in the real world, we may expect that this prediction would somehow come into reality. But it's not that easy to change the recent banking system because they have to be broad in gathering information on how this system works if they are going to adopt this technology.
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May 28, 2018, 04:36:24 AM
 #116

I was thinking about the Bitcoin and it's Future in Banking . can it remplace money in transactions ?

Yes it can replace money especially in terms of online transactions. Since bitcoin transactions are cheaper and easier, it would be more convenient to use. If people just know the benefit of having a purchase in bitcoin. Although I do think that it can replace money in the future, I believe that its not in the near future.

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