Bitcoin is it the Future of Banking ?

[Marucya]

Bitcoin is already ousting the usual currency from different areas of the economy and this process will continue for a long time. However, in my opinion, the crypto currency can not completely displace fiat, it will walk in parallel with the crypto currency. In the banking sphere specialized crypto-currencies, such as ripple, will go, and bitcoin will be used as a means of payment and exchange.

[Harrisonimo]

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

I believe a lot will be coming into place in the future and especially when it comes to buying and selling. The digital money will at some stage be adopted by the banks and when adaptation comes to play, a lot will be scrapped and massive reduction in the human workforce is enevitable. Another thing to take note is a reversal in status; fiats will now be limited to some areas of transactions. Digital currencies will become more in demand and use than the fiats.

[stompix]

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.

And you haven't realized that there are a lot of bitcoin banks around you (virtually).
Localbitcoins , blockchain.info...coinbase
What are those?
Some companies that hold your bitcoins, just like ING holds your euros.

The irony is done for, a lot of guys store their coins in banks 2.0 without even realizing they are making the biggest mistake somebody can do with their coins.

[Haunebu]

Bitcoin is already ousting the usual currency from different areas of the economy and this process will continue for a long time. However, in my opinion, the crypto currency can not completely displace fiat, it will walk in parallel with the crypto currency. In the banking sphere specialized crypto-currencies, such as ripple, will go, and bitcoin will be used as a means of payment and exchange.

I completely agree with you. I don't think bitcoin and the crypto world will ever replace fiat. We have gotten used to fiat in such a way that we can't bear replacing it with something else. However, bitcoin can surely become an alternative payment method very soon.

[de_xt]

For banks, trading through Usd, Euro or Bitcoin does not make a big difference in my opinion. The Bank is an company that sells money and earns money through monetary services. How can we know that in the near future Bitcoin or any other digital currency will not be used globally. If this happens, the banks will continue to operate on the new currency, and will adapt to the situation.

[James Hamilton]

I've actually just released a book that looks at aspects of this if anyone is interested?

https://www.amazon.com/Bitcoin-cryptocurrencies-everything-Cryptocurrencies-Blockchain-ebook/dp/B076X59XKL/

James

[turkmachiavelli]

I think yes because world will be a global stiuation and there will be single state so btc will be main currency.I believe this but ww3 is coming and this can change everything. I hope everything will be best for us.

[aso118]

I think yes because world will be a global stiuation and there will be single state so btc will be main currency.I believe this but ww3 is coming and this can change everything. I hope everything will be best for us.

If World War III comes, whether Bitcoin will be the main currency will be the least of your problems. The world is filled with nuclear war heads and one madman is enough to destroy the planet. The factor which pushes Bitcoin as the major currency is globalization.

[darkangel11]

For banks, trading through Usd, Euro or Bitcoin does not make a big difference in my opinion. The Bank is an company that sells money and earns money through monetary services. How can we know that in the near future Bitcoin or any other digital currency will not be used globally. If this happens, the banks will continue to operate on the new currency, and will adapt to the situation.

That's true. They are using software to determine balances and transfer money so they could as well add a blockchain app to it.
For clients of a bank it would be more convenient to exchange through their personal bank account, just like they're doing with other fiat currencies. A bank could profit from exchange fees, so they would get compensated and everybody would be happy.

[crypto4lambo]

I think no because as we all know, bitcoin’s transaction cannot be regulated by anyone or any institutions. Its transaction occurs in the blockchain itself. It is like a peer to peer transaction that is being recordeed in it. Also in bitcoin, transaction are anonymous, there is no such thing as you will be identified who you are and what specific address you sent your payment to. In this case, it will be prone for illegal transaction and underground activities. I think bitcoin has its own purpose in this society and banks also have its own. But who knows what will happen in the near future. If bitcoin will replace banks then so be it. Just need to take note the transaction fees, volatility of price and transaction speed. I thinks these may be the major drawback bitcoin has to face.

[Mame]

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

With bank it is different with bitcoin, and time will come that bitcoin will take over the finacial concept since more and more people are adopting bitcion slowly banks will diaappear, because with bitcoin you take over your money unlike with bank they control your money.

[richardsNY]

I don't think bitcoin and the crypto world will ever replace fiat. We have gotten used to fiat in such a way that we can't bear replacing it with something else. However, bitcoin can surely become an alternative payment method very soon.

People for once should understand that Bitcoin doesn't need to replace anything. I too believe that Bitcoin is just an alternative to everything this fiat system has to offer. People were basically forced to stick with the fiat system, while they now with Bitcoin have the option to choose for something else. Whether it's partly or entirely, the choice is there for people to make, and exactly this freedom makes me happy. As it is right now, my Bitcoin wealth has already exceeded my fiat wealth (which comes mostly from the fact that the market has gone up significantly), but that doesn't mean I will ever ditch fiat -- I accept its importance in our daily lives.

[Razerglass]

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

With bank it is different with bitcoin, and time will come that bitcoin will take over the finacial concept since more and more people are adopting bitcion slowly banks will diaappear, because with bitcoin you take over your money unlike with bank they control your money.

i cant understand the reason behind why people like to make false statement.. Do you know current turnover of interexchange banking? Bitcoin is not alternative tool to banking system and transparency is main feature of this technology which attracts others..

[batang_bitcoin]

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

This has been asked for so many times. There's no way that bitcoin will be the future of banking but it's going to be the rival of the bankers in the future. It can't replace money transactions as there are countries that are stating that bitcoin and other cryptocurrencies are illegal to them. Blockchain technology is the future and the banks can possibly adopt that technology too.

[Sadlife]

Nope its not possible money or fiat currency is also essential for bitcoin existence because without it people can't cash out or convert it.  Unless bitcoin can used a payment for goods and servives in a country or that country legalized it. Bitcoin will only become a more superior method for paying transaction or payment processor online that far surpasses centralized cash.

[carriebee]

Nope its not possible money or fiat currency is also essential for bitcoin existence because without it people can't cash out or convert it.  Unless bitcoin can used a payment for goods and servives in a country or that country legalized it. Bitcoin will only become a more superior method for paying transaction or payment processor online that far surpasses centralized cash.

Yes, this is not possible for some reasons money is the main use in every transactions and banking system. It is eversince existed even without bitcoin. People are already using this kind of method though bitcoin already adopts by many. Thus, impossible to replace money or fiat currency in every transactions.

[posi]

With the help of the blochain network. Yes, bitcoin will be the future of banking cause some banks are now switching to blockchain network which they will later incude bitcoin in other for them not to be left behind.

[MommyElsa]

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.

Yes,it won't happen, it will be a great issue for the government, they won't allow some transactions that they cannot control like bitcoin.

[selline]

in the banking world in particular currencies krpto or digital eyes indispensable means of payment which did become the attraction of high value high so prices became the main capital first. and in my opinion only a bitcoin has banking in the future of a better future and had a long period of time

[roddy5]

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

Yes it may or it may not, no one can tell if bitcoin will be the future in banking or will it be another
crypto currency that government will create or an alt coin will be used but one thing is for sure.
Crypto currency is the future of banking.

Bitcoin being the future of banking really depends the people who will continue on using it until the end.