Is banking still important in the bitcoin era?

[kaikusaki]

Hopefully one day we can get rid of those bankers 

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[zissmieus]

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?

Bitcoin has not been accepted in many places, so people's lives still need to have a virtual currency, now many people are buying Bitcoin while the situation has not improved, in the past, we have encountered There are many economic risks and Bitcoin is risky.

[Spanopohlo]

For the time being, banks are still as important as saving monies, loaning, the houses and other stuffs. Biticoin or other cryptocurrencies are still on the run in the first lap, there still a long way before it gets really serious, but considering how countries are banning it one by one, then the Threat for banks are more likely to decrease. So, if all else fail, then there will be the bank to depend on, from the time it first appeared down today.

[sashulya7979]

Undoubtedly banking is very important in spite of the era of bitcoin, of course the bitcoin structure is developing very quickly, but in the future the banks will still exist, but it may be processed instead of ordinary money simply bitcoin

[laurenB7742]

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?

Cryptocurrency is a new emerging financial system but it's not applicable in every area of life. Banks still hold and control the complete financial system of every country. There is no match of real-world use cases of BTC when compared with banks fiat currency. Even to start with cryptocurrency you need fiat currency to buy tokens.

[0t3p0t]

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 agree that banking still important in this Bitcoin era as it is holding a stable asset that will make our economy in a stable condition unlike Bitcoin which is very volatile. Unstable currency won't make a business to boom as it may go up and down anytime. Precious metals like gold and silver are also stable and they are controlled by central banks or government agencies and authorities. That is why I think they consider Bitcoin as a threat because it can evade taxes, privacy and it's value.

[Paul karet]

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?

Search is needed even if we are in the bitcoin era. because to buy and sell bitcoin, still through banking.
Actually banks play a role to connect between bitcoin and investors.

[dhka]

Of course. Some loan or activities requires financial transaction like several months. You wont have that with bitcoin.
Other than that, we dont have debit card in crypto, you cant use you coins freely to buy basic needs, you still need fiat to do that.
At the time bitcoin is fully adopted, then we may see that coming

[rhenz01]

Undoubtedly banking is very important in spite of the era of bitcoin, of course the bitcoin structure is developing very quickly, but in the future the banks will still exist, but it may be processed instead of ordinary money simply bitcoin

Of course yes, if our traditional money is still exist we need the bank to safekeep our money especially for places were the network connection is very low which is not good for crypto transactions.

[BChydro]

Bitcoin has not been accepted in many places, so people's lives still need to have a virtual currency, now many people are buying Bitcoin while the situation has not improved, in the past, we have encountered There are many economic risks and Bitcoin is risky.

What situation are you talking about, what economic risk have you encountered in bitcoin, is it a risky investment, sure there is a risk involved with every form of investment but if you enter the market at the right price then the risk can be reduced considerably. Banking is important at this time, if we need to purchase the coin we need to convert the dollars to bitcoin and vice versa since you cannot expect the world trading with bitcoin alone.

[Ozero]

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 statement that the crypto currency is a threat to the existence of banks. not quite right. Crypto currency is not such a threat to banks. It can take away from banks a part of their clients who will not apply for services to the bank, but will use crypto currency for this purpose. Therefore, profits from banks will decrease. However, in any case, the banks will exist, since there will always be work for them. First of all, banks serve the economy of the country, government orders, serve the budget. This activity of banks is necessary for the state and therefore it will support the existence of banks. Banks serve the commercial activities of individuals and legal entities by non-cash settlement. This activity will also remain for a long time in the banks, we can not yet say when these individuals will switch to the use of crypto currency and whether this will happen at all, given its high volatility. And most importantly - the credit and financial activities of banks. So far, only banks are carrying out such activities on the necessary scale. Therefore, the banks will have enough work.

[daarul50]

The bank is a symbol of the currency of a country. Issuance of currency is done by them. I do not see banks as being threatened by financial technology such as bitcoin. It is very likely that the technology will be adopted by banks in a country to be one of the economic solutions if the technology is really appropriate to solve the problem. Do you think bitcoin can be known when there is no fiat currency? Certainly not. Therefore, we need banks to be able to invest bitcoin.

[yourEvil]

We are not in the bitcoin era yet, only in early stages.

Similarly, bitcoin hasn’t been mass adopted yet, so banks are much more important. It will take some time for bitcoin to pose a real treat for them, although banks are aware and have plans to use blockchain and to use their own cryptocurrencies.

I fully agree with you, the era of bitcoin will come only after 5 years at least, so I think that the answer to such questions is obvious

[Doge dealer]

yes banks are still very important because it is through these banks that we convert our crypto into fiat money , so yes they are still very integral as that bridge that connect the virtual money to the "real" money because out economies and local societies are still very much fiat based.What is left to be seen is if over time as fiat money becomes fazed out what persona these institutions will take on .

[Washball]

Financial institutions like banks will not let go the power they now have. They now are in a position that they won't give up easily and they will do anything to eliminate cryptocurrencies or create their own. Even in the bitcoin era, we'll have to deal with banks.

[shalaza]

Regardless of the power bitcoin wields, traditional banking can not be outdated. No way

[Mister1k]

Regardless of the power bitcoin wields, traditional banking can not be outdated. No way

Since newbie you may not aware of the bitcoin and banking comparison properly, if you understand it perfectly then you will be able to make money on bitcoin and know what banking doing towards bitcoin.
Traditional is not fiat cash mate. I has been introduced by the illuminati Rothschild.
All the Share market lead and economist well know about that better you need to read the book mastering bitcoins that will help you better.

[satecream]

Not very well i think. Because bank right now ate still valuaable for the goverment for their income and still there are lot people who still using a bank

[Cookie Man]

of course Banking is still very important, there will always be people who prefer the traditional system and will shun crypto. Banking will be there for them, there is still loans and other financial services to be offered by the bak, and the national accounts to be kept.

[mackenzie5]

In the bitcoin era banking is not so important at all because  every thing we can resolved with bitcoin itself so the conventional banking system has no specific role on it. If some body is undertaking a deal between  a firm or an individual here with bitcoin  the buyer and the seller only  knows about it with out a third party interference such as banks. Bitcoin saves the processing time and the processing charge and the transaction  between the buyer and seller directly..So the bitcoin is more convenient for the international trade.