The end of the banks due to bitcoin

[Fasunathan]

It can be a possibility

It can be a possibility if banks don't evolve. But with the recent news that central banks of some countries are keen on adapting to the blockchain technology. They are now adapting ways in which they could utilized the blockchain for their payment platform. They are not thinking that cryptocurrency is a threat to their existince.

[Rustamm]

Banks as a part of the mandatory attributes of the state will never disappear. They are needed by any state, because through them the state's financial policy is being implemented and the country's economy is being financed. Banks, therefore, are needed by any state. Most likely, the Crypto currency will find a way to peacefully exist with banks, which, in the end, will also use the crypto currency to provide paid services to citizens.

[BeGoods]

It can be a possibility

No its not possible. Banks will not end because of bitcoin. As long as there is fiat money, bank will exist. As many people using bitcoin they will find ways and solution to adopt to the new trend and to the situation. Why bank will end bitcoin? Do they hate bitcoin? Don't we know that some of them are using bitcoin.

Yeah bank will not be end, and I think its same for bitcoin. banks will not be able to stop bitcoin. although a ban on bitcoin in many countries will not stop bitcoin. I think at this time many banks are beginning to understand that they will not be able to stop a technological development. so I think the bank will find another way to be friendly with bitcoin

[kiver]

with the existence of blockchain, precisely the banking industry become more advanced and can adapt to the times
someone will be easier to transfer funds, if a bank adopts blockchain technology on their financial system
that is, the bank will be more successful
and that's a bad thing, in my opinion

exactly it won't be the end of bank, but if the banks start using the blockchain technology it will be a start of better system that both banks and user could benefit from.  but i don't think they see it our way

[deppil]

It can be a possibility

It can be a possibility if banks don't evolve. But with the recent news that central banks of some countries are keen on adapting to the blockchain technology. They are now adapting ways in which they could utilized the blockchain for their payment platform. They are not thinking that cryptocurrency is a threat to their existince.

Yeah thats true, the bank will always evolve according to the times. when blockchain technology became popular. of course banks will not avoid it they will adopt a blockcain system in their system, as some banks do today. so I think there is no reason for the bank to end because of bitcoin. because you know bank will continue to evolve and grow as needed

[Danielavgonz]

It can be a possibility

maybe

[JMLARDIZABAL082915]

I don't think banks will end due to bitcoin. I highly disagree. Bitcoin has made a big impact in our online transactions but banks has also made its own way to prove they are reliable and a trusting banks unlike any other mode of money investment,transaction, or payment

[tuikindu]

Bitcoin will never be the end of the bank, and for the next few hundred years the bank will remain with it.

Banks are protected by their current economic system and are strongly supported by the government in any country.

[Mpamaegbu]

It can be a possibility

No! It certainly can not be. Let us even say the banks don't give a rat ear about the blockchain technology and have no need whatsoever for it, the banks will still be in operation. There are many illiterate/semi literatebanked folks who don't understand how Bitcoin or the crypto stuff works. Will these people all be cut off? No, the won't be. So, the banks will definitely continue to exist to service these interests.

It will end the uses of the banks and increase the uses of remittances. But if banks will issue their own crpto currencies then that's a different future i can forsee.

Are you truly convinced of your stand? Remember that emotion has no place in facts.

[A Feeder]

It can be a possibility

It is possible for you to be disqualified. Banks will never end since they are supported by the government. There are also numerous names of banks so it is very hard to shut them all at once. Each has its own CEO and the cryptocurrency is not enough to replace the fiat money.

[GettingStartedwithCrypto]

It can never be the end of bank, most of them will adopt the technology of blockchain and integrate it with their banking system...

This really makes the most sense. There doesn't seem to be any legit way that banking will actually end. Things seem a bit too intertwined.

[sfdseew]

It can never be the end of bank, most of them will adopt the technology of blockchain and integrate it with their banking system...

There are already projects like this one, and I saw one such project before, bringing together blockchain technology and banking systems to bring greater convenience to people.

[Mike Mayor]

banks have LAWS such as legal tender, minimum wage and tax that ensure that FIAT stays in circulation. so they are not worried. cryptocurrencies do not affect their business model.

after all when one person buys bitcoin. their fiat does not burn up. it just moves to the sellers account.. meaning fiat is still in circulation .. this is why banks dont care how many cars people buy or how many iphones people buy. to a bank fiat just moves from one account to another. and that goes for cryptocurrencies too

banks will however close local bank branches and cut costs in the future
banks will change their current database model (that require tonnes of security and auditing) for a blockchain equivalent data store (research hyperledger)

eventually it will all be done via an app on a phone and if your lucky a call centre. but be sure of one thing, while there are LAWS that keep fiat in circulation. banks and governments will still control 99% of common use finance.

that said. international trades and local trades between private parties/smaller businesses will offer accepting cryptocurrency. but remember cryptocurrency is just code.. it has no voice, no arms no legs. so dont sit on your arses waiting for cryptocurrency to jump up and have a meeting with your local retailer/landlord to get them accepting cryptocurrency. if you want it to happen in your area, you have to push for it.

I don't think banks and government will control 99% of finance when crypto I'd around. That figure will constantly drop as more and more people out the power in their own hands and use crypto. I'm not sure what you are talking about minimum wage for. What has that to do with the bank? That's up to the law and the employer so I'm not sure where you got that from. You don't have to help crypto to be adapted. Anyone with half a brain can see why you should accept crypto. There two huge market places here and both take crypto. We are getting a physical store to buy mining gmachibes as well. You can have coffee and pay with the major cryptocurrency. I live in a third world country too so if we doing it then others should too.

Right now I can buy anything with Bitcoin excluding property and things like light and water or food. Anything else I use cryptocurrency.

[zwiggel]

that is impossible. Because bitcoin has a limited value. Bitcoins are being monitored closely by many countries.

[vladimirovleanid]

Crypto-currencies exist only virtually and I do not print anybody in real life. It is created in the process of mining.moment requires large computing powers of the computer plus Moreover, over time, the complexity of production constantly grows.

[senin]

Banks have always been, are and will be in the future. Whatever anyone says. Banks need the state and it will protect them and protect their laws. Crypto currency has partially taken from banks their clients and reduced their profits, but the banks will be rebuilt for a new technology blockchein and will continue to exist along with the crypto currency.

[CutieKeisha]

Banks won't end. Fiat will not go. Crypto and Fiat should co exist.

[TheUltraElite]

Crypto-currencies exist only virtually and I do not print anybody in real life. It is created in the process of mining.moment requires large computing powers of the computer plus Moreover, over time, the complexity of production constantly grows.

Did you copy paste this from some bitcoin wiki or so? This is generic shitpost and everyone knows this and the people talking about these are the shitposter trying to increase activity. This is in no way related to the discussion of the OP.

that is impossible. Because bitcoin has a limited value. Bitcoins are being monitored closely by many countries.

Although bitcoin has a limited "supply" but the problem is that banks print as many currency notes (minting) as they want leading to deflation is due course. But bitcoin price will increase due to increasing population adoption and and limited supply.

Bitcoin is being monitored by they cannot control it.