Bitcoin is it the Future of Banking ?

[Lion_ashy]

So someone narrated...
A recent trip back to my hometown of Dallas, Texas got me thinking about the future of cryptocurrency. During my visit, I came across a physical “Bitcoin ATM” while putting gas in my car at the local Chevron Station.

I learned that this Bitcoin ATM is operated by Coinsource, one of the world’s largest Bitcoin ATM providers. With over 250 Coinsource ATMs located across the country, the company aims to leverage the tremendous growth of Bitcoin by providing an easy and secure way for people to convert Bitcoin to cash and vice versa. As Bitcoin becomes more mainstream, the Coinsource network saw the need for a “scalable identity platform” that could support this expansion.

The rise of Bitcoin ATMs clearly demonstrates the advancement of digital payments. As a result, a transition to real-world financial models is being seen as Bitcoin and other cryptocurrencies become more common.


More interestingly, however, cryptocurrency ATMs also offer an innovative solution to solve one of the world’s biggest problems - banking barriers.

Approximately 2 billion people worldwide and roughly 59% of adults in the developing world don’t have a bank account. Yet in some countries, cash transactions represent up to 95% of all transactions.

[mkmittalg]

Yes, BTCanking"s future is BTCitcoin.

[aleksej.rozhkov]

In my opinion, Bitcoin has all the citizens to replace Fiat, since these operations can be transferred to any point of the world, in the shortest possible time, and with a minimum commission, and no one for whom crypto banks already appear, there are even loans and hypothec in cryptocurrency

[adnandanish102]

It seems like the bitcoin will end the banking system in future as many people adopted bitcoin and the good think is it doesn't involve any third party interference with users and their currency,this makes users satisfied.

[HasiViraj]

on the off chance that bitcoin replaces fiat cash totally I figure it can not, we know for ourselves to utilize bitcoin we should have web get to and different gadgets that can bolster and furthermore bitcoin costs are not steady, we additionally know not all spots can get web get to, and bitcoin likewise has no physical frame, I think bitcoin is more appropriate for long haul contributing spot.

[ombir]

Yes, maybe the accumulation of bitcoin banking. Perhaps in the next few years, BitCoin should be turned into banking just like money, and if this happens then the people will be facilitated.

[yulionoo]

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

everything could happen, but I do not think that bitcoin is the future of banking. there are many striking differences between bitcoin and bank. bitcoin unrelated and attached to the government while the banks under the auspices of the government. and even all banks must have taxes for the government. if so many people understand about the benefits of transacting anything with bitcoin. and many people are using bitcoin to avoid too much tax. maybe someone would prefer to trade with bitcoin than with a bank.
I also agree with the opinions of people who say that in the future the bank system may be using a blockchain system like bitcoin. by not changing their fiat currency. as more and more people are using technology today, banks will do the best they can to be in demand. so in my opinion, bitcoin will not be the future of banking.

[Lion_ashy]

So someone narrated...
A recent trip back to my hometown of Dallas, Texas got me thinking about the future of cryptocurrency. During my visit, I came across a physical “Bitcoin ATM” while putting gas in my car at the local Chevron Station.

I learned that this Bitcoin ATM is operated by Coinsource, one of the world’s largest Bitcoin ATM providers. With over 250 Coinsource ATMs located across the country, the company aims to leverage the tremendous growth of Bitcoin by providing an easy and secure way for people to convert Bitcoin to cash and vice versa. As Bitcoin becomes more mainstream, the Coinsource network saw the need for a “scalable identity platform” that could support this expansion.

The rise of Bitcoin ATMs clearly demonstrates the advancement of digital payments. As a result, a transition to real-world financial models is being seen as Bitcoin and other cryptocurrencies become more common.


More interestingly, however, cryptocurrency ATMs also offer an innovative solution to solve one of the world’s biggest problems - banking barriers.

Approximately 2 billion people worldwide and roughly 59% of adults in the developing world don’t have a bank account. Yet in some countries, cash transactions represent up to 95% of all transactions.

However, it’s interesting to note that a large number of these unbanked people possess a cell phone, providing them with the means to keep a digital wallet to store cryptocurrencies. Once a digital wallet is in place, blockchain transactions allow for the transfer of Bitcoin and other cryptocurrencies in a peer-to-peer fashion, without any intermediaries involved. The use of blockchain technology in the financial sector has been identified by many as a potential solution to reduce poverty by democratizing the access to the economy.

[suzanogbomo]

It has the capacity to do such but it will not be perfect to replace every aspect of the banking industry with bitcoin.Things are far too complex for such a simple solution.

[harimauagam]

bitcoin can only be seen from experienced people and no word surrender until saturated second seconds.

[Rozita]

Bitcoin is not the future of banking system. That's blockchain technology which might be the future of banking system. If banks are interested in this new technology, they will create a new cryptocurrency. They won't use bitcoin.

[Scott Freemann]

I tend to believe Bitcoin seems like the competitor of banks. Unlike physical money which is centralized, Bitcoin is decentralized, meaning that it can be traded without third parties like banks. Thus, the need for bank will decline. How can Bitcoin become the future of banking?

[Rebecca Bragaa]

No, not until Bitcoin can replace all fiat money. And that Bitcoin replaces all fiat money is far from being possible. There are many reasons for that. Bitcoin doesn't recieve all advocation, so there will be big argue between two sides : supporter and opponents. Also, Bitcoin is just in the early stage and it has many imperfections to improve.

[March_Pro]

At the moment banks are working very well, I think Bitcoin will not replace the banks. Government and people will not accept that, it's not a good idea.

[Alex_Kidd]

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

Regarding the very next future no, I don't think it's possible. In 50 years I think it could be a serious possibility. I don't know how many people will still use cash by that time.

[Inasal03]

Yes their is a future of banking now in my country theirs bank accepting bitcoin already many thing it is posible in technology they want a change to work with bitcoin. Many peoples or government is that agree for the bitcoin but they need to trust so someday it will work and thwy are wrong if what they are thinking of bitcoin.

[maivui5411241@gmail.com]

This is very difficult because Bitcoin and fiat money are very different. Fiat money is stable and stored separately, Bitcoin is unstable and stored by its users

[btcCoincart]

Yes it did in some ways! I sent money for my friend oversea by bitcoin, and he received it right away. This is 1 type of transaction, the receiver got bitcoin, then sell them in their currency. This is really fast but cost less than traditional way of money transfer!

[Nicholas Ferreiraa]

I can not think. To replace the money in a transaction, it must have the same characteristics and functions as money (measure value, medium of exchange , a means of storing value) or better. But in fact, Bitcoin only has tags that perform the exchange media function. As a means of storing value, Bitcoin lacks a bit of standard - erratic price fluctuations that make it difficult for Bitcoin to become a reliable storage facility. Finally, as a measure of value, this is still controversial. Currently, there are no products or commodities whose value is expressed in Bitcoin units, but this is changing rapidly

[Lauff]

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