Bitcoin is it the Future of Banking ?

[ubeng07]

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

Are not. I do not think Bitcoin can replace paper money in transactions. But it can be used in parallel with the current paper money. If that happens, the world will change in a better direction. There are already many companies that accept Btcoin in payment. I believe in the future Bitcoin will be accepted by the whole world, and used for shopping.

there is some other local wallet for it to do if i am right it can be converted but for replacing it i dont think that it may be replace for well there is no difference of converting it perhaps it may ever e look like to do on it.

[warkop121]

I might say yes, what happens now, Bitcoin deals are made with digital exchange and banking services. but did not change the traditional banking services commonly offered by banks. Because at the moment bitcoin can not replace money in the deals we make day by day. Bitcoin has some disadvantages, has a high cost, irrevocable transactions, is hard to get by many people, all wallets are anonymous. Some of these drawbacks can be an advantage for some people, especially anonymity and non-reversal of transactions.

[deppil]

Bitcoin will not completely replace the banks but rather be an option for people to use in the future. because the bank has its own system, especially in determining the interest. But that might be the future of banking, because we are now in the digital age where everything can be done online.

Thats absoultel right. I think even though widely used by many people and its adoption continues to rise. but that will not change
anything about the bank. the government will continue maintaining the bank and bitcoin will only be an option for currencies and banks

[Samuel188]

It's a fact which everyone knows that Bitcoin can potentially bring a major shift to the banking and investment industry.Yet, bitcoin would be a great currency for everyone as everything is controlled through the blockchain and it is impossible to counterfeit it.
But this also means that government, large firms, and so on, would have to be able to justify the use they make of their financial means

[Max_fee]

Bankers and industry leaders in the Texas panhandle have recently been discussing what to do about blockchain technology and bitcoin.Banks might bring in Bitcoin in future, but completely making it the future of Banking might not be possible. But this will make banks think to increase there facilities with hassle free banking.

[baho11]

We all know for a fact that bitcoin follows a decentralized system and it is somehow the exact opposite of the system that banks are following. Moreover, i don't think bitcoin will ever replace money though there is a possibility that the number of users will increase but since it follows a decentralized system, i doubt the government will give in to it.

[gesdan]

I think it wouldn't because we can see that the requirement of a country has their own currencies like America have USD, China have yuan and another country, if the money replaced by bitcoin I think that all country don't have the identity. it just my opinion, hehe sorry if I'm wrong

[WhileOscar2018]

I think it is possible. It is a digital money that Bitcoin will once reach the banking phase.That only means that it going to be centralized, therefore the volatility of Bitcoin is no more, and eventually the hiked price that we are experiencing right now will just going to be gone.

[God]

Of course, and i am more than impatient to see what is going to happen on the next few years as soon as there is another mainstream adoption and everybody will be using bitcoins for normal transactions, but it will take a little time to see it happening

[gabmen]

Of course, and i am more than impatient to see what is going to happen on the next few years as soon as there is another mainstream adoption and everybody will be using bitcoins for normal transactions, but it will take a little time to see it happening

Bitcoin and crypto basically goes against what banking is so i don't think that'll happen. The future of banking would probably be obsolete or will be replaced by some other method but it likely won't be crypto

[dumple]

Maybe not the future of banking, but i am more than sure in that there are a lot of stuff going to be done with bitcoins on the near future if there is a good adoption.

It can take some time, but it all is possible if we believe on it, so it will probably be sooner or later

[mdrakibul]

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.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. bitcoin is become so much popular that it will be the future banking so soon.

[victoryana]

the future of the bitcoin co-founders themselves as well as by investors such as investors who like the trend of short-term investment, the future of the coin mainly for short-term investment and vice versa

[nagobinga]

depending how long the bitcoin will last, it will not be able to do bitcointalk what we want and for the bank definitely need each other for a token.

[RosellaMurphy]

Bitcoin has own platform one day he replace banking system   

[Sandijoee]

it may happen because we are now in the digital age where everything can be done online. Who knows the next few years or more from now the paper currency will be threatened by bitcoin.

[_jshsnts]

Bitcoin is playing an important role in our modern time especially in our daily transactions. Is bitcoin useful ? Yes, it makes our transactions easier just using our mobile phones and computers and it is time-saving as well . Is bitcoin safe ? Somehow, cause people can still do transacions with anonymous people .

But is really bitcoin the future of banking ?
 
Cryptocurrency is surely a step into the future that eliminates from these institutions the mishanding of documents and records, the dishonesty, lack of trust of employees as well as the lack of reliability

The fact that the currency or payment system exists in the public domain with a protection of all the nodes connected shows just how much bitcoin can be a game changer in terms of securities, risk and data management. SO IT'S NO.

[Jay51]

Bitcoin is unlikely to ever be used for banking. For this, there are individual altcoyins, such as ripple. Bitcoin working only 9 years, there is certainly such it is possible to create bitcoin bank.

[IndigoRed]

Bitcoin has own platform one day he replace banking system   

I agree. Cryptocurrencies may have different consensus protocols for verifying transactions but all of them provide enough functionality to perform banking functions. So yes, a virtual currency can indeed replace the need for banks in the future.

[rob143]

It should be like that, everyone will be more than happy because all their money will be fully decentralized and there would be no way to know where are you sending/using your money for. But it can take more than a long time until it can become a reality