Bitcoin is it the Future of Banking ?

[Lucas*]

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

[lazygin001]

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.

[RAmondragon]

Currently, companies accepting transactions in bitcoin use Bitpay to convert bitcoin to money. So it still comes down to money. Bitcoin will not replace money for transactions anytime soon.

For banking, the future in bitcoin is actually the blockchain technology. The coin may change in the future but the blockchain remains the main driving force. If the blockchain gets adapted to our eveyday transactions, it will replace banks as we know it. You can hold unlimited amounts of coins in your wallet and have multiple wallets at that. Transactions will be end-to-end. No more atm's or passbooks. But it's still a long way to go before these happen.

[aryaadikariyansyahsuwarto]

I strongly disagree bitcoin associated with the bank, or do transactions through the bank, because the bank has its own system, especially in determining the interest. I hope you are aware of what you think, we will feel crowded if bitcoin is connected with the bank .. !!

[hitlab]

IMO Bitcoin is not going to completely replace banking but rather be a option for people to use in the future. eg, at checkouts you will have the option to use bitcoin along with cash, credit card, debit card etc.

[SUDARMONO]

if bitcoin replaces fiat money completely I think it can not, we know for ourselves to use bitcoin we must have internet access and other devices that can support and also bitcoin prices are not stable, we also know not all places can get internet access, and bitcoin also has no physical form, I think bitcoin is more suitable for long term investing place.

[jseverson]

Bitcoin is the future of banking? Lol, it's more like Bitcoin is the end of banking. The mass adoption of Bitcoin would mean people have to rely on banks less. People are not going to need to rely on a third party to keep their money for them anymore.

That being said, I don't think Bitcoin can truly replace fiat. I am of the opinion that our best case scenario is that they exist alongside each other. That also means banks won't truly die, but they'll definitely be less influential, which is a change I think the world desperately needs. Having the option to use Bitcoin or fiat is also better for the consumers, as they can have the best of both worlds without truly sacrificing anything.

[tamawaelah]

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

no no no, not a banking but system behind the banking i think.
it help banking for any transaction, fastest sending fund, transparent transaction
it's a breakthrough for payment gateway,

[Nawaytes]

If this condition continues for a long time which is bitcoin has expensive transaction fee, I think it will not happen. Even today transaction fee in the banks is still much cheaper than bitcoin.
In addition bitcoin prices always up and down so hard, and that's not a good thing to replace fiat currency. If we look at the currency of USD, CNY, WON and other currencies, they have a stable price/point.
So I don't think it will happen until bitcoin has returned all its features (as it first appeared). CMIIW.

[4p0l4k4y]

It would be possible since we are now in a digital age where everything can already be done online. Who knows couple of years more from now paper currency will no longer exist.

[KennyR]

Here most of the users suggest the transaction fee as an major issue, but when the large volume transactions were taken into consideration the transaction fee seems to be low. Users who make big transactions prefer bitcoin over the banks. As a part several banks around the globe has started to use bitcoin for transaction purposes.

[pathapoddo]

Of course it will take place the future of banking. bitcoin is become so much popular that it will be the future banking so soon.

[adadaorlina]

I might say yes its happening now Bitcoin transactions are made by digitally exchanging and banking services . but not change the usual traditional banking services offered by a bank.

[traderethereum]

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

we need more years before we can see bitcoin replace the money in transaction because the infrastructure is not ready to integrate and many country that is not ready for bitcoin. many people still don't believe and use bitcoin for their daily needs and only few people know bitcoin in all over the world. but i think bitcoin can be a solver for the banking to fix their problem in financial and we already knew that bitcoin is helping people to fix their financial too.

[Lucas*]

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

no no no, not a banking but system behind the banking i think.
it help banking for any transaction, fastest sending fund, transparent transaction
it's a breakthrough for payment gateway,

when we talk about banking , automatically we talk about the system behind it , and all transactions with bitcoin realised by Blockchain . so the blockchain is it the future of banking system ?

[shursight]

Bitcoin is totally the opposite than banks, there is no way that you can compare bitcoin to a real bank because they dont have anything in common. Blockchain could be the same as the red who is behind the banks, but is no closer to it and it can not be compared to it at all.
Bitcoin has been created to be fully descentralized, and creating a bank for bitcoin could be just like an irony, i dont like that idea, and it can not happen.

[silent17]

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

Bitcoin cannot replace money transaction, for me , bitcoin is just another way that you can invest your money in, like a stockmarket, Still, nobody can replace the money transaction thru bank, because the bitcoin currency is unstable, unlike bank transaction that maintaince the value of your money in your country, I think bitcoin will only be accepted in online transaction internationally but not locally.

[Sarastiche]

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

Bitcoin migth not replace banking,but the banking sector will have no choice than to embrace Bitcoin,as it is the defination of cashless policy the world has been pithching about

[OMGyasuo]

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

I do not think that. In the future, if btc develops steadily it can become a legitimate trading method but it will not be able to replace the money in the bank. If so, then the world's monetary system is no longer valid, so big states like the United States or the European Union will let their currencies disappear, won't they?

[bitart]

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

no no no, not a banking but system behind the banking i think.
it help banking for any transaction, fastest sending fund, transparent transaction
it's a breakthrough for payment gateway,

when we talk about banking , automatically we talk about the system behind it , and all transactions with bitcoin realised by Blockchain . so the blockchain is it the future of banking system ?

Blockchain is the future of the banking system, but not the bitcoin's blockchain. Banks will develop their own blockchain, and they will use it to cut their costs on transactions and to speed them up. Bitcoin (and other cryptos) has some time now to grow and develop before banks go live with their own upgraded system. They won't tell people that they have developed a new blockchain based system, but they will advertise that their new system is quicker and cheaper, and that's all what people need, they don't care about the back end. If that happens, that will be a hard time for cryptos