Is banking still important in the bitcoin era?

[Nexjr14]

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 still feel that banking is needed for now, and I still feel important about it. Bitcoin exists only in the world of crypto or digital currency. We still need paper currency like dollars or fiat in everyday life. Only for bitcoin can be used as an investment method and online payment.

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[pecson134]

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?

Banking and its services is still a very important service when it comes to money talk. Not all of us had a good amount of knowledge on bitcoins and how it works so those kind of people do tend to choose the traditional one rather than this digital services. Even if I am using bitcoins I also still prefer bank when it comes to money since it is still the one that is supported when receiving my pays on my current work.

[Strongball]

Banks are always gonna play an important role in the economy and society.
With the rise and regnant of bitcoins in recent years, accompanied with the controversy
that seems to escort with it, banks are still an essential institution that's very reliable, dependable
and influential. It really doesn't matter if bitcoins are gonna compete with banks, since banks have been
around for quite a long time and they pioneered somewhat a fragment or more of what bitcoin aims to establish.
With the existing fiat systems each and every nation has today, bitcoins cannot fully compensate or replace what
banks have offered and served to nations throughout the years. Banks will always be the standard class in financial institutions
everywhere. Bitcoins will have to coexist, cooperate, relate and learn from them in order to thrive, survive and succeed more in the future.

[Lancusters]

Cryptocurrencies are good for human trafficking. But this is not enough for the state economy to work. Only banks can lend to businesses. Without this, it is impossible to modernize enterprises. The Fiat currency can perform this task. But the high volatility of cryptocurrencies makes it unacceptable for lending.

[sitnikov]

Banks are always gonna play an important role in the economy and society.
With the rise and regnant of bitcoins in recent years, accompanied with the controversy
that seems to escort with it, banks are still an essential institution that's very reliable, dependable
and influential.

Completely agree with you. Here is why some people will never leave banks:

1) There is a trust factor associated with bank. I mean do transactions worth millions but yet very few cases of frauds or corruption are reported in banks. On the other hand, a lot of bitcoin exchanges were not able to keep themselves protected from hacks.

2) Banks have also started to provide a number of other services like lockers and insurance. It is good have all these facilities at one place as it saves time.

[xSkylarx]

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 still feel that banking is needed for now, and I still feel important about it. Bitcoin exists only in the world of crypto or digital currency. We still need paper currency like dollars or fiat in everyday life. Only for bitcoin can be used as an investment method and online payment.

For now I will agree with you since not all of the people do know about this cryptocurrencies, especially those people who doesn't have computer knowledge or should I say they are not updated on what is happening on the society because they don't have social media account or not using the internet, you know old people. So, in the near future I guess this banking(of fiat) won't be needed anymore, we are going to use crpytocurrencies instead on banking, but not the usual banking that we have now.

[MarkusIsaiah]

definitely yes bank is still important bevause is digital currency we can't use it if we will not exchange it into fiat. We need the paper currency and bank is the one who providing paper currency.

[Kotone]

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, I do actually. I think that if the emergence of the cryptocurrency cannot be stopped and that there would be a lot of things that we cannot stop then banking would change and adapt with it forever. I’m thinking that people would want that their bitcoin or cryptocurrency be insured or that they have a much more safer way than our electonic wallets we have in our computers and in the internet. Banking would look for ways in which they can appeal
To the masses

[Clara.Wilfred]

I think banks are 90% of the equation. The only thing holding crypto back at the moment is uncertainty regarding regulation so I thing creating a symbiotic relationship with the banks whilst retaining standards and principles is very important

[bryan21]

Yes bank is very important in every era. Bank is never can't be replace with anything. Most of people still saving, do transactions with bank.
Bitcoin is just digital/virtual payment, can do transactions, have a investment inside etc.

[Satry]

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?

We do not need to ask if the banks is still very important in bitcoin era. Of course wherever we go we need a bank. Possible bitcoin ended but Banks is still alive. Banking plays an important role in the financial life of our economy. And also banks can be seen from the fact that they are considered as to be life-blood of our commercial and industrial activities. And in different country banks is very important to support not only in the economic but also in our society.

[linshisui38]

For seniors who can't handle their financial affairs, Banks will be the first choice.

Bitcoin gives young people independent authority, and we don't need to communicate face to face, using bitcoin as we please.

[maxj57634]

Banks are important because, it is backed up by the government and financial institution. Banks have establish trust and are trust by majority of people to entrust via money with. Banking is safest way you can hide your money with, without the worry or trouble that someone will stole them from you. Unlike in bitcoin when someone stole your bitcoin it cant be recovered.

[enkongtukmol]

it's still important it will provide you cash for daily needs like for transportation, expenses, and also daily needs. it can be also a fix saving of money it doesn't decrease on its value not like cryptocurrency it change every time.

[Yaunfitda]

Of course, there are still people who still prefers the old and traditional way of keeping their money, specially our parents who have grown and learn that banking system is best and preferred method.

However, those who have been brought into the new millennium with digital coins like bitcoins, prefer to be their own banks. I'm sure that most of us here are anti-banks to begin with, so I wouldn't be surprise if we think that banks are obsolete already.

[Budugbass]

Although bitcoin is now increasingly widespread to many countries and more widely known, it still.. the Bank still plays a very important role for the country and its citizens, due anyhow.. paper money is still very used compared to the digital currency, which can be regarded as the primary requirement for each people which can't be replaced by digital currencies. If the country really support bitcoin, of course the Bank will support the existence of bitcoin and certainly will do the best as possible to be able supporting bitcoin.

[chuongvannguyen02]

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?

Now is the era of the blockchain, and the future maybe it will dominate everything in the world. But the bank also evolved with it quickly and met all the needs of its users. In the future Blockchain, banks will appear and meet all the requirements of the user.

[doraegun]

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?

Even if bitcoin is always available and always number choice of every people, because of the limited bitcoin machine for cash out spread out to some other area. Bank is absolutely useful for backup to cash out of any fund in different country, am I right? so for the status of some many bank are still intact not affected to have BITCOIN NEW PROCESS of transferring of fund.

[CryptoWorld87]

So far blockchain technologies is good and safe you can handle your profulio and check or use it anytime you like. Blockchain tech is just starting this is just the beggining to we still need traditional banks when we are handling our fiat money to make it safe. Later in the future i think we dont need the bank we only handle blockchain wallet.

[SPOILER]

Yes. Banking systems is still important in the bitcoin era.