Is banking still important in the bitcoin era?

[TimofeiHabarov2807]

At first it was 50 bitcoins, but it was reduced by half every four years. They say the last bitcoin will be released in the middle of the XXII century.

[danggoron]

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?

Banks are still very important institutions in any country, they make serious contributions to the development of the economy by promoting business. Banks also endow to the development of savings plans and are instruments of the government's monetary strategy. In modern society people are used to bank deposits and loans, cryptocurrencies today can't provide such functions, but they may be able in future.

In addition, national banks also have a role to safeguard and regulate the economic stability of a country. We need to know, bank functions not only for savings and transfer activities. Thus, although bitcoin will be allowed as an alternative payment, the bank will still exist.

[Cookie Man]

Banking is till very important as not everyone has the privilege to be engage in BTC, some still cant access it due to lack of internet connection, Bitcoin users may however prefer BTC to banks due to the fact that BTC offers more freedom from control and influence

[Iggor]

In Bitcoin era maybe not, but this is not Bitcoin era still.That will be when we use Bitcoin every day for most of the daily payments.
I think there will be some form of the bank in the future.

[markleal]

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?

Hi there dwsgh, in deed. Even if most of the people will use cryptocurrencies in their daily business transaction, banks services will still run. Like for example providing loans is still fully operational and may even strengthen. The mind set of most people engaged in cryptocurrencies is to continuous increase their investment and banks is the number one source of loans that can be use in a particular investment. Banks could even expand their services as a wallet provider of cryptocurrencies, they even do it in gold so it can be doable in cryptocurrencies.

[Ausgewielt]

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?

But the fact is bitcoin is only new currency which have no enough power to make bank dissapear. Although bitcoin bring a lot of benefits for us butthe scalability issue is still prevent all peiple to use bitcoin. Bank wil always needed since it's one of governments tools to make the economy of country more stable. Most of people in this world are still need bank to store their money and process their transactions.

[Chrystora123]

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?

of course, the role of the Bank is still very important for now, we still need Bank as the place where we take the money,
although now the existence of the Bank is very disturbed by the presence of cryptocurrency and Blockchain technology.

[kripto para]

Of course it is. How else would you buy Bitcoin? A lot of people would not buy BTC if its just peer2peer.

[Doge dealer]

banks will always be a feature of any economic system , as they are necessary because we cant/wont spend all our earnings in one instant. keeping that money in store whether on our person or at home presents some particular security risk and cost that most of us are not prepared to deal with . banks will always be needed but what we will see is a drastic change in the way they operate and their organizational structures. crypto currencies must be stored, people will still want to invest, so there will always be a spot for this oligarchical institution in the new world order.

[millenniumcoin]

I think banking is still important in this botcoin era because, for now, bitcoin is gradually gaining world wide acceptance although many are yet to get involved because of various reasons, but banks are also useful because they play an important role in the financial system and the economy. As a key component of the financial system, banks allocate funds from savers to borrowers in an efficient manner.
Finally,in this btcoin era banks are still needed but with time, bitcoin may make banks less important because, in the near future, these services rendered by banks, may be taking over especially when almost everyone,nations, governments accept bitcoin world wide.

[ityandsyn]

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, we need the service of banking for this era like "DATARIUS CRYPTOBANK" because they integrate the services for fiat money and cryptocurrency like transfer of funds for both fiat and crypto, and they offer also P2P lending but they keep on decentralization of the funds. There is a big difference of a traditional banking and the "DATARIUS CRYPTOBANK" soon.

[FLoving]

In Bitcoin era maybe not, but this is not Bitcoin era still.That will be when we use Bitcoin every day for most of the daily payments.
I think there will be some form of the bank in the future.

The work of banking system is not to store our money and to secure it but most of them are working as to manage the financial system of many organizations. They often become the part of an organizations by collecting the funds flowing towards that organization so the company pay them some fees and they get it easy to have a well organized system to manage their financial system. So in this era of bitcoin there will be a need of banking system. It is also a hope that banks will also start bitcoin.

[SaShiRaJaVu]

At first it was 50 bitcoins, but it was reduced by half every four years. They say the last bitcoin will be released in the middle of the XXII century.

I am not even sure what you are telling here in this thread.

Banks are important in every aspects of finance,even for bitcoin if you are willing to purchase some coins,you need the help of a bank to transfer the money to the exchange an vice versa,the bitcoin era has just began and it will take a really long time to get to the main stream,what ever it may be,the banking sector still moves on just like that in the past.

[Starscream]

Obviously, Bitcoin and alternativce coins complete with this, and therefore you can expect heavy resistance about adopting it in real life

[kalstarzz]

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 the bank will still exist even though bitcoin is valid all over the world, but we can not deny that bank users will be reduced.
so that the bank does not experience a lot of decline in bank users can add their function by becoming an exchanger.

[Pasaway2701]

like it or not, banks are a big part of our lives and every one of us are going to be using them at some point and we won't be able to simply give them up so they will keep their place in any futuristic world that we have even with bitcoin around.
lets not forget that bitcoin is not that big yet to want to replace the huge banking system that is currently working.

That is right. Even bitcoin exists, banks are also needed because there is where you can place your most ney safely. I do not think why banks going to shutdown even online wallet are there because even investors will choose to use the safe bank rather than put it with an access in the internet. Bitcoin ear won't affect the bank but both are useful to people. Even me, I rather put my money on the bank specially my savings and only put an investment to bitcoin account. It is more secure on the land rather than on the cloud.

[callmeback]

Yes we need it. We need a bank online for bitcoin and also to store any kind of coin or token. They often become the part of an organizations by collecting the funds flowing towards that organization so the company pay them some fees and they get it easy to have a well organized system to manage their financial system. So in this era of bitcoin there will be a need of banking system. It is also a hope that banks will also start bitcoin. Most of people in this world are still need bank to store their money and process their transactions.

[tegarp90]

If bitcoin technology is fully developed, i mean the transaction speed is very fast and the fees very low.
I think some people will leave banks, but some people don't due to the safeness of bitcoin is weak

[George Khelashvili]

Is banking still important in the bitcoin era?

Not era, its just bigining

[quocsi]

I think the bank is still very important in the bitcoin era. The presence of bitcoin will not affect the development of banks. We still need the bank to store the traditional currency. Maybe banks will accept bitcoin.