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Author Topic: Is banking still important in the bitcoin era?  (Read 1817 times)
klebsiella
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May 02, 2018, 03:47:40 PM
 #141

I do believe that banks are still important even if there's this bitcoin and altcoins. Despite the advancement of technology particularly the blockchain still there are people around the globe that doesn't recognize this cryptocurrency. Even in this bitcoin era, we are still using fiat for our daily transactions.

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May 02, 2018, 03:53:00 PM
 #142

I think both of bitcoin and the conventional bank still important.we can separate them from our daily life.however, we still need fiat for buy daily goods.and we also need conventional bank for trade our bitcoin to fiat.

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May 02, 2018, 03:58:20 PM
 #143

I dont think so Banking is important because Bitcoin filled this blank and more fast and secure than traditional banks.People waiting for that government legalize it as legal tender then Bitcoin will lead all financial institutions.

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May 02, 2018, 04:15:28 PM
 #144

In subjective opinion. Although bitcoin and crypto are developing and taking advantage of trade and economic and social. But I still think that banking is still important and important to us. Because of:
The bank provides the capital for the economy, which is an important tool to promote the development of commodity circulation. In addition, it is a tool for the government of each country to regulate the macro economy.
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May 02, 2018, 04:22:35 PM
 #145

Financial technologies such as bitcoin, P2P lending and crowdfunding are just beginning to take off, and businesses involved in the industry pose little immediate threat to traditional commercial banks. Banks, after all, the country's economic lifeline, so I think the bank is still very important, do you think?
At the moment, banks really need us, and are important for the whole world economy. As already said at the big summit of all countries, that crypto-currencies do not threaten the banking system, and there is no need to regulate them.

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May 02, 2018, 04:35:57 PM
 #146

banks will exist until whenever because the government support them even though digital era has beginning but banks will never lack interest however possibly in the future banks will upgrading their service following digital era and might be someday banks on the particular countries will made their own digital currencies instead of cash
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May 02, 2018, 04:41:57 PM
 #147

Society has become addicted to banks and they have designed their policies for this. For instance, it is hard too imagine a society now without bank loans.
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May 02, 2018, 04:48:03 PM
 #148

Financial technologies such as bitcoin, P2P lending and crowdfunding are just beginning to take off, and businesses involved in the industry pose little immediate threat to traditional commercial banks. Banks, after all, the country's economic lifeline, so I think the bank is still very important, do you think?
I do not think it is a threat and the government also knows that bitcoin is a digital currency and has not been authorized by the government, and the bank keeps the currency recognized by the government

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May 02, 2018, 05:00:19 PM
 #149

The role of the bank is still very important even if bitcoin is legalized, because bitcoin may later become only a virtual payment system for certain people. While some people still need paper money for the transaction and that's where the bank functions.
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May 02, 2018, 05:07:08 PM
 #150

As for me, the bank is serving a major role in getting me the fiat equivalent of the Cryptocurrencies I have. Maybe till when I can make purchase of make withdrawals without having to involve the banks, then the bank can become obsolete in the end transactions of my Cryptocurrency dealings.

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May 02, 2018, 05:24:46 PM
 #151

In subjective opinion. Although bitcoin and crypto are developing and taking advantage of trade and economic and social. But I still think that banking is still important and important to us. Because of:
The bank provides the capital for the economy, which is an important tool to promote the development of commodity circulation. In addition, it is a tool for the government of each country to regulate the macro economy.
Yes, I agree. The bitcoin and crypto market have some impact on banks, which is what many people predict. But I think banks are really necessary and familiar to the people. It promotes the development and maintenance of a common model of the economy and society.
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May 02, 2018, 06:53:22 PM
 #152

Technology will always improve as days go by and since bitcoin uses technology, it will go with the flow but I don't think bitcoin will overpower fiat currency. Cashless transaction maybe possible because of technology improvement but still the main currency that will be used is our fiat money and banks hold those money. We cannot deny the fact that bank will never lose its role especially when we talk about money.

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May 02, 2018, 07:01:39 PM
 #153

Financial technologies such as bitcoin, P2P lending and crowdfunding are just beginning to take off, and businesses involved in the industry pose little immediate threat to traditional commercial banks. Banks, after all, the country's economic lifeline, so I think the bank is still very important, do you think?
Yes banks are still important because they can aleast give us security of money Although banks are also doing fraudlants act like hold our money and limit us for transactions. For loan purpose and mortgage we still need banks,  Also large size of compnies need banks to run their business. When blockchain will be mainstream than there will also some tole of banks.

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May 02, 2018, 07:16:23 PM
 #154

As of now while the crypto currencies are evolving, banks are essential for the development. But there is a big possibility that we will no longer need banks when bitcoin is on the streets. I mean why will you need banks if you have all your savings secured in your virtual wallets right? But that will take a very long time since we don't know how long will it take the whole population to accept bitcoins. So going back to your  question there is a possibility that banks will cease to exist.
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May 02, 2018, 07:39:58 PM
 #155

On these days, banks are still important of course. Bitcoin and the other cryptocurrencies are new, the countries and the people are not ready yet for digital currency. So, banks have a great importance nowadays.

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May 02, 2018, 08:34:16 PM
 #156

To my view Banks are very important and the reason being that, Banks do not operate with blockchain and if you want to save your paper currency you need to do with them. Bitcoin came to meet our Banks and all the due respect has to be given to them.

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May 02, 2018, 08:49:16 PM
 #157

I think both of bitcoin and the conventional bank still important.we can separate them from our daily life.however, we still need fiat for buy daily goods.and we also need conventional bank for trade our bitcoin to fiat.
I agree. Bank has also big part in saving money even it is bitcoin era exist. Bank will not fear because many investors have choose where to put their profit into safety and more secure.

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May 02, 2018, 09:04:26 PM
 #158

I think a lot of banks will break into the field of Blockchain . We see that the UAE will use this technology and many other countries will use it soon, whether in banks or other fields.

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May 02, 2018, 09:07:14 PM
 #159

I think both of bitcoin and the conventional bank still important.we can separate them from our daily life.however, we still need fiat for buy daily goods.and we also need conventional bank for trade our bitcoin to fiat.
I agree. Bank has also big part in saving money even it is bitcoin era exist. Bank will not fear because many investors have choose where to put their profit into safety and more secure.
Even me want to place my money in the bank while trying to invest and gain profit in bitcoin. Bitcoin is only good  on making transactions but keeping savings on online wallet is not secure unlike in banks. We have to separate our daily expenses and from the savings investment so we have to  keep fiat on hand as well.
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May 02, 2018, 09:13:33 PM
 #160

Yes banking is important without banking how will you buy your bitcoins??
You think banking is the only way to buy bitcoin. You should keep in mind right now banks are the only one imposing strict rules when trying to buy bitcoin using your own money from your own bank. Look at VISA. They are cutting ties and trying to avoid all transactions related to crypto currencies. Better use P2P way of exchanging fiat and coins.


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