Yusuf_Jay
Jr. Member
 Offline
Activity: 37
Merit: 10
|
 |
August 02, 2018, 04:57:53 PM |
|
i was thinking about the Bitcoin and it's Future in Banking . can it remplace money in transactions ?
I think it's difficult, it's difficult for bitcoin to replace fiat money in transactions, even though I personally like bitcoin and all its advantages are compared to fiat money, but, somehow bitcoin will not replace fiat money for transactions. maybe I would say that bitcoin comes as an alternative money. |
|
|
|
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
Khan Apon
Newbie
Offline
Activity: 68
Merit: 0
|
|
August 02, 2018, 04:58:37 PM |
|
Currently, companies accepting transactions in bitcoin use Bitcoinpay to convert bitcoin to money. So it still comes down to money. Bitcoin will not replace money for transactions anytime soon.
Example, some Peoples have bitcoin, but they need urgent money when he will exchange btc for money to the bank.
|
|
|
|
|
|
coynedterm
|
|
August 02, 2018, 05:33:29 PM |
|
i was thinking about the Bitcoin and it's Future in Banking . can it remplace money in transactions ?
I think it may be possible that banking sector can adopt the technology of bitcoin i.e blockchain , Since banking sector industries are not coming directly in contact with the cryptocurrency support but still they can understand very well that how much the technology of bitcoin is better than what the TECHNOLOGY they have . In my country SBI bank which is about government bank , they are trying to develop blockchain technology to integrate with the banking system to make bank data more secure than what they are in the present time . So here lots of chances that bitcoin will be future of the banks , and also here lots of possibilities are that people can forget the bank and go with the directly with the blockchain technology . So there are chances that banks may be come with more better better schemes with blockchain technology to put our money in there banks . |
|
|
|
Dadaro
Newbie
Offline
Activity: 124
Merit: 0
|
|
August 02, 2018, 05:37:36 PM |
|
some banks are now considering the use of blockchain. I don't think that bitcoin will be the future of banking, maybe blockchain. as of now the scalability of bitcoin will not sustain the mass adoption of using it as a payment.
|
|
|
|
|
riyarana1123
Copper Member
Newbie
Offline
Activity: 126
Merit: 0
|
|
August 02, 2018, 06:21:22 PM |
|
No, i do not think that BITCOIN will ever be a part of banking system in any country right now because BITCOIN is regulated by the internet the whole date of bitcoin is seen on the internet whereas the data of banking system is fully secured and private.Moreover,one country can not regulate a bitcoin as a whole in a banking system.In addition it is possible that all the banks in this world can take bitcoin without any issue and convert them in a fiat currency when it required so that the investor can buy with their money what they want.
|
♛ SATURN♛
Liquidity providerfor crypto markets Cross-chain Exchange & OTC trading Platform
|
|
|
Suprex125
Newbie
Offline
Activity: 60
Merit: 0
|
|
August 03, 2018, 02:17:20 AM |
|
No I don't think it will replace fiat as the governments just won't approve due to the lack of control they can have with Bitcoin. But hey I can be wrong, anything can happen in this strange little world.
The development of bitcoin has increased, and more and more are familiar. The bitcoin transaction is very easy and fast, I think it will be a tool for transactions like banknotes, but little possibility to replace fiat money. because the government has the right and authority in each country. |
|
|
|
|
|
Afnan_faizah
|
|
August 03, 2018, 02:41:45 AM |
|
I think banking is not a good word to descript about bitcoin. I think the most apropriate word is the future of digital currency. In the past bank also made a digital currency but they didn't use blockchain technology.
|
Sepertinya sudah waktunya, kalau menurut saya lebih baik lump sum sekarang. 30/01/2024.
|
|
|
kyledavid
Newbie
Offline
Activity: 252
Merit: 0
|
|
August 03, 2018, 03:37:19 AM |
|
our locals bank are new in bitcoin but i heard some of banks in our country started using bitcoin but not yet official . And for me i make bitcoin as my bank i dont put money on my bank instead i make my money stay at bitcoin because it wont grow in my savings account but in bitcoin account you are sure that your bitcoin will grow and will make you money but it has a risk
|
|
|
|
|
Captain Sneeze
Member
Offline
Activity: 351
Merit: 11
|
|
August 03, 2018, 03:42:37 AM |
|
i was thinking about the Bitcoin and it's Future in Banking . can it remplace money in transactions ?
I don't think bitcoin can replace money in transaction because there are so many people yet don't know about bitcoin and how bitcoin regulate and i think many people will choose money for transaction because they how to use it. |
|
|
|
|
williamcastaneda
Newbie
Offline
Activity: 31
Merit: 0
|
|
August 03, 2018, 04:11:56 AM |
|
i was thinking about the Bitcoin and it's Future in Banking . can it remplace money in transactions ?
hmm .. maybe this can happen because bitcoin is superior when compared with banking |
|
|
|
|
|
mmo_online_1981
|
|
August 03, 2018, 04:58:38 AM |
|
Are not! That may not happen! The future of the bank is blockchain technology, Bitcoin is just a successful product of that technology. A better altcoin could replace the current position of Bitcoin!
|
|
|
|
|
opma
Newbie
Offline
Activity: 86
Merit: 0
|
|
August 03, 2018, 08:32:25 AM |
|
I am in doubt with this. Although there are chances and it depends on how the people will embrace it. If the demand is growing and majority is using bitcoin then maybe there is a bigger chance of that to happen.
|
|
|
|
|
cjmalicious
Newbie
Offline
Activity: 25
Merit: 0
|
|
August 03, 2018, 09:37:26 AM |
|
Bitcoin is absolutely the inverse than banks, it is highly unlikely that you can contrast bitcoin with a genuine bank since they dont have anything in like manner. Blockchain could be the same as the red who is behind the banks, yet is no nearer to it and it can not be contrasted with it by any stretch of the imagination. Bitcoin has been made to be completely descentralized, and making a bank for bitcoin could be much the same as an incongruity, I dont like that thought, and it can not occur
|
|
|
|
|
delightme
Jr. Member
Offline
Activity: 224
Merit: 1
|
|
August 03, 2018, 01:07:36 PM |
|
Blockchain is the backbone of Bitcoin. Blockchain ais so secured that it is impossible to hack them. Also, the cost of verifying transactions is less than that of central bank because the transaction of cryptocurrency happens between the two parties without the intervention of a bank. Bank can take bitcoin without any issue and convert them in a fiat currency when it is needed for the investors to buy when they need it.
|
|
|
|
|
Lovecrafter
Newbie
Offline
Activity: 89
Merit: 0
|
|
August 03, 2018, 01:18:52 PM |
|
Most likely the future is the technology itself. The banks will have their own closed block, so it is unlikely that bitcoin will be needed for this purpose
|
|
|
|
|
tonyosa
Newbie
Offline
Activity: 182
Merit: 0
|
|
August 03, 2018, 01:21:10 PM |
|
Yes it can if given the opportunity to thrive, It is likely in the future more countries will begin to offer the crypto- versions of the national currencies to aid transactions
|
|
|
|
|
tonyosa
Newbie
Offline
Activity: 182
Merit: 0
|
|
August 03, 2018, 01:25:10 PM |
|
Most likely the future is the technology itself. The banks will have their own closed block, so it is unlikely that bitcoin will be needed for this purpose
Yea, we have seen some already trying to make a distinction between the blockchain and bitcoin itself. However, if banks make use of the blockchain,it may give some credence to bitcoin as a means of payment too |
|
|
|
|
wormgummy019
Member
Offline
Activity: 328
Merit: 10
|
|
August 03, 2018, 01:25:26 PM |
|
i was thinking about the Bitcoin and it's Future in Banking . can it remplace money in transactions ?
I also think that bitcoin will be the future of banking because as of now many people are investing in bitcoin than in the bank. I think that banks are scared in bitcoin because there is a chance that this will happen soon. |
|
|
|
|
|
Gotumoot
|
|
August 03, 2018, 01:27:12 PM |
|
No I don't think it will replace fiat as the governments just won't approve due to the lack of control they can have with Bitcoin. But hey I can be wrong, anything can happen in this strange little world.
The development of bitcoin has increased, and more and more are familiar. The bitcoin transaction is very easy and fast, I think it will be a tool for transactions like banknotes, but little possibility to replace fiat money. because the government has the right and authority in each country. No chance bitcoin will replace fiat money in terms of future banking, its because government will not allow it to happen. And also banks will not accept bitcoin because banks wants constant earn of profit. We know that bitcoin is volatile, it means that its price is rapidly changing and its unpredictable to know if its going to increase or decrease, so banks and governments will not bitcoin to be the future of banking. |
|
|
|
|
Betheng10
Member
Offline
Activity: 238
Merit: 10
dApps Development Automation Platform
|
|
August 03, 2018, 01:42:16 PM |
|
i was thinking about the Bitcoin and it's Future in Banking . can it remplace money in transactions ?
Replacing fiat money will take time if it is considered by the government. You see not all people can adapt to this new technology. Indigenous people rejects technologies as they prefer traditional way of living. Not to mention, even the older ones in the urban areas. Government will have to consider all of their people before implementing such new notions. And lastly, not expecting this kind of post from a hero member.  |
|
|
|
|
