What will happen to the banks if people uses cryptocurrencies more than fiat?

[sgenuine]

I think hell will break loose if people try setting up outside of the establishment. I think in order for this to be accepted and main stream adoption to happen it will need to accept regulation.

As of the moment, it is really difficult to assess what changes would occur when bitcoin becomes more of use than the fiat money. I'm sure that prices of goods and services will definitely change sharply due to the people's less patronization of the fiat money over bitcoin or other cryptocurrencies.

When hell freezes over...LOL, do you remember such a saying? I suppose that it will never happen, even if cryptocurrency will have more power than now.

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[Coinoisseur]

The more bitcoin is adopted by the authorities, the greater losses banks undergo during business dealings.

[Isaacck1]

The banks have established trust and acceptance that are quite unreachable for crytocurrency right now. That is why it is almost impossible to replace fiat with cryptocurrency. This has always been an arguement, what of we all think that cryptocurrency was created to patch up the holes created by paper money but cannot stand alone. It good to think that cryptocurrency should coexist with paper money to be able to transact easily.

[SkvorNyc777]

The may buy the exchanges and start increasing the fees...the exist just for taking money from ordinary people.

[Minus7point5]

Banks arent going anywhere, as I just mentioned.  We need them as financial institutions worldwide.
Banks have been with us for too many years to simply think they can be replaced by a new technology.

[Vness10]

If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

I think bank will use of some people that don't have ability to use cryptocurrencies like our grandma's or grandpa's or even our parents. And also some of people don't interested in cryptocurrencies. So banks never gone even there's cryptocurrencies that we use we need to consider the ability of others.

[thetruth123123]

I think banks would be just ok! Becouse they will accept cryptocurrencies and make all the services availiable now in crypto, lol. They will find a way to provide this!

[chaoscoinz]

If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

Just a thought, but I think the banks would start to adopt the technology, in order to keep up with the innovation of the day. As technology becomes ever more efficient by the the day, the regualtors must either utilize existing regulations in place, or change, adapt and adjust regulations to keep up to with the times.

[dario.93]

Upon adoption of cryptos bank system will probably change according to the circumstances. That only mine opinion.

[BitcoinTurk]

If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

The banking system is not a system that can easily be completed. If the situation you are talking about is realized, the system is immediately arranged in accordance with the cryptographic sector and the cryptocurrency banking system has also started. As a result, when the USD is not used, bank reserves will be assessed through cryptocurrencies. Although it may seem like a difficult process at first, after a short transition period, the system will continue to mesh without problems. You can be sure of that.

[kimochidesh]

If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

That would be the best if it happens. It would lead to the elimination of banks which are the main fraudsters. They are charging a great amount for doing anything related to money even if it means just holding on to it. It would become possible to use cryptocurrencies in daily routines easily. This would be especially beneficial for people living in far flung areas or the outskirts of the cities who do not have easy access to banks. They can then easily use cryptocurrencies at their homes as it would be widely acceptable then.

[horrifiedx1]

If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

Just a thought, but I think the banks would start to adopt the technology, in order to keep up with the innovation of the day. As technology becomes ever more efficient by the the day, the regualtors must either utilize existing regulations in place, or change, adapt and adjust regulations to keep up to with the times.

indeed banks can not deny the development of technology if they do not want to be abandoned customers. but if cryptocurrency is more than fiat currency, i think the price of cryptos has increased greatly

[sumanto]

If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

the possibility that banks will begin to close and begin to go bankrupt due to loss of some existing customers, if there is a bitcoin in my opinion better avoid the bank and better keep the assets you have in bitcoin to be able to get a lot of profits.

[MAJICOIN]

In the present time banks are operating through fiat money and it is not the only function of banks there are so many other functions which are done through banks and other financial institutions and people will must use fiat bitcoin is good but it is not openly allowed in many countries and on the other side bitcoin is highly volatile then some conflicts will arise with the value.

[charmaine08]

I think banks should so something about it .they should accept crypto for them to not in trouble like bankrupt .

[om_iyo]

If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

No one knows about this. But now, most people still trust for the bank. In other side, many scammers in crypto. It make a crypto has no trust for some country. So, how to make remove the scammers? And how to make people trust for crypto. I think it could be a big question for us....

[syaripudin]

If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

if more people use crypto currency than fiat currency, I think there will be many from Banks that will adopt blockhaind technology. by creating a crypto currency that acts as a financial asset but remains in control of the bank as a central controlling finance. but I think for now the crypto currency will not be able to eliminate the existence of the fiat already owned by every state that has been established by the government and with the control of the government.

[SkiOlya]

Bitcoin and all the technology blockers can remove from the market such an intermediary, like banks. to store bitcoins you do not need a bank. You can store your crypto currency on your computer, limiting access to the wallet in any convenient way for you. I am more than confident that in the future, in most official purses, a currency conversion mechanism will be added, when transferring funds from the purse of one crypto currency to another. Also do not forget about hardware wallets, in which all of the above can be implemented now.

[Max.junior1]

Honestly, this is very difficult for me to imagine and completely beyond my thinking. But this is a new condition, the bank must be prepared to accept this condition if it happens, and I am sure they (the bank) have prepared it to deal with this condition.

[charlotte04]

If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

I think they will be alarmed and would start to tell their governments to stop the process or they could join in with the people to adapt the community of cryptocurrencies.