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Author Topic: Is banking still important in the bitcoin era?  (Read 1816 times)
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May 08, 2018, 01:28:47 PM
 #241

The role of the bank will always be important until whenever, this is because the bank becomes the main pillar to drive the economy, the bank will exist anytime because it is fully protected by the state.
Yes we have to accept that fact that the role of banking is still important in our life, in fact still majority of people do not know anything about bitcoin and even they know about it and using it but still they are not in condition to use bitcoin for everything for which they are already using fiat currency, therefore they are using bitcoin as an optional currency, and that is the reason that the use of banking system is important in our life.
Right, I think that banks are also trying to integrate crypto moneys, especially if crypto moneys are a threat to the bank, it would not be allowed to grow so much. I think all the banks are looking at the crypto moneys positively.



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May 08, 2018, 01:38:23 PM
 #242

Why do I need a bank if I have a crypto currency? What does the bank have to offer such that it can not do this crypto currency? Banks only create unnecessary problems. They are completely subordinate to the states. Crypto currency allows you to transfer unlimited amounts of money quickly and without regulation
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May 08, 2018, 01:42:51 PM
 #243

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?
Maybe once bitcoin is accepted and is legalized throughout the world is that bank users and bank's essence alone is not there to be found anymore because we use wallets in our bitcoins and it is accessed through internet. Well maybe the government will make a bank that is in the internet so it can be accessed through internet which is a lot better since it is more secured than the wallets we are using right now they're lurked by hackers and scammers.

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May 08, 2018, 01:46:29 PM
 #244

Although, bitcoin is getting popular day by day, but there are hundreds of millions of people all over the world still don't know about it. So banking would remain important for a long time in future.
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May 08, 2018, 02:13:00 PM
 #245

of course, the bank has its own role in a country. banking is still needed by society in a country anyway. although in the future bitcoin or digital era will be more phenomenal but will not really undermine the banking system.
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May 08, 2018, 02:20:12 PM
 #246


Of course yes.the banking world is still in the need.the existence of banks are very regulated and protected by negara.bank have a separate role in regulating the circulation of cash in a country.
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May 08, 2018, 02:31:55 PM
 #247

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 think bank still important in the bitcoin era, Banks played a vital role in the improvement of our economy. There are lots of essential activities that banks do for us to prosper like, facilitates the process of production, exchange and distribution of wealth. So, Bitcoin won't replace banks, they can work together  in building a more productive and prosperous nation.maybe in the future, Bank has a new crypto.
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May 08, 2018, 02:37:06 PM
 #248

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?
The international trading industry and worldwide economic system is still bank based. It would take major adjustments and changes to abolish the banking system from the world exchange and even in a particular country's financial system. As of now, bitcoin exist even banks are still dominant in the market. The outcome of this relationship is yet to be reveal in the future. Will they co- exist sweetly? Will they compliment or break each other?
Yes, as of now they are co-related to each other since most people who work in earning bitcoin will usually convert bitcoin earned into their local money and send it to the bank for savings deposit to use the ATM and can withdraw money anytime but if the world soon become fully  inter connected then the crypto will dominant and bank will slowly vanished because people will doesn't use it anymore.

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May 08, 2018, 02:46:46 PM
 #249

Why do I need a bank if I have a crypto currency? What does the bank have to offer such that it can not do this crypto currency? Banks only create unnecessary problems. They are completely subordinate to the states. Crypto currency allows you to transfer unlimited amounts of money quickly and without regulation
Cryptocurrencies are steadily changing the way we not only facilitate transactions, but also the way that we view money altogether. Banks who neglect the value of this technology, or those who are too slow to adopt it, will ultimately pay the price.

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May 08, 2018, 02:48:31 PM
 #250

Theoretically, the banks - in the vision of Satoshi - should no longer be necessary, with the advent of bitcoin.
But they will hardly let themselves be put aside, so they will invent something. And then you will still need financial services, loans and other things like that.
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May 08, 2018, 02:52:34 PM
 #251

Yes! As long as economy exist banking is important but there will be a revision to conduct a greater transaction and this maybe influence by crypto, forcing the bank to improve the service.
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May 08, 2018, 03:15:29 PM
 #252

The role of the bank will always be important until whenever, this is because the bank becomes the main pillar to drive the economy, the bank will exist anytime because it is fully protected by the state.
Yes we have to accept that fact that the role of banking is still important in our life, in fact still majority of people do not know anything about bitcoin and even they know about it and using it but still they are not in condition to use bitcoin for everything for which they are already using fiat currency, therefore they are using bitcoin as an optional currency, and that is the reason that the use of banking system is important in our life.
Right, I think that banks are also trying to integrate crypto moneys, especially if crypto moneys are a threat to the bank, it would not be allowed to grow so much. I think all the banks are looking at the crypto moneys positively.
I agree on you and that is poasible now a days. The banks has it's own way on how to deal with crypto world because it is a kind of system that new to them and they have banking system. They will do their job to have a better positive outcome about their studies on how to swim in the crypto system. Moneys should grow in bitcoins era for them to be proven the productivity.

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May 08, 2018, 03:21:43 PM
 #253

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?

if bitcoin will dominate the payment system, banks will no longer important for us.
but the chances that btc adoptation will be 100 percent is not feasible. imagine how slow the technology adoptation specially in third world countries like cambodia? though there are tokens now that serves the unbanked people, there will always be an option that is why banks will be important even in bitcoin era.

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May 08, 2018, 03:36:26 PM
 #254

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 believe that banks are still gonna be around even though bitcoin and the other cryptocurrencies dominates the world, banks has been a partner to the world since a long time ago and they always get to let people see that they need the bank, I think banks will remain and will keep people wanting to be a part of their business, maybe we might not be putting paper money and coins in banks, but cryptocurrencies, depending on the changes, I believe banks can adopt.

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May 08, 2018, 04:04:18 PM
 #255

We aren’t there yet, we’re still in the early stages where there is a lot of resistance against Bitcoin which in the future will be more acceptable and even adapted by the bank. For now Bitcoin isn’t accepted yet and applied massively so the Bank is still very important. It’s not yet time for Bitcoin to show a significant threat to the conventional banking system, although in fact many banks are aware of it and they forbid the use of Bitcoin to suppress its rapid growth rate. A revolution is a struggle to the death between the future and the past.

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May 08, 2018, 04:12:49 PM
 #256

Of course it is still very important, Banks are there to secure our money. They have the facilities and the resources to do all the financial transactions in any country around the world. We may have digital currecncy already but it cannot replace the banks since they are the ones controlling the flow of money, debts, and all the finances of every nation. It will be ideal if banks and Bitcoin would work hand in hand in order to have and develop a financial system that will be better for all and will be able to make the world economy better.


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May 08, 2018, 04:47:22 PM
 #257

I think when bitcoin or digital currency control the world economic conditions it is certain if the bank can not develop to keep up with the times it is certain the bank will not be useful anymore and will lose a lot of customers to make loss of the bank.

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May 08, 2018, 05:01:39 PM
 #258

Banking institutions are still important in this bitcoin era because if you want to buy bitcoin you still need have back account to send money on exchange or market all over the world. I think that in future bank will start accepting bitcoin or some other coin and we will use peer-to-peer network for transactions.

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May 08, 2018, 05:16:59 PM
 #259

The banks are still important. because we need the infrastructure of the banks. maybe it will not be necessary in the future. When we use bitcoin widely in shopping, we do not need a bank.


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May 08, 2018, 05:17:42 PM
 #260

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?

Despite the appearance of a revolutionary payment system which eliminates the need for a peer-to-peer transaction, banks are without a doubt paramount to the society and the economy. They have the prerogative to regulate transactions involving fiat (which is our standard currency around the world) and control inflation. Maybe once we shift into a new aspect of payment and change our currency into digital ones, then banks would slowly become obsolete.
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