Is banking still important in the bitcoin era?

[lolxxxx]

Those who are earning in cryptology they don't think that banks are that very important they are only important for them for cashing out the money and nothing else they also want that the banks should be gone and there will be only cryptocurrencies based banks.

[agentx44]

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?

In my own personal opinion, banking is not important in the bitcoin era because bitcoin and cryptocurrencies do not need banks they have their own way to store them, that is why some governments in other countries banned bitcoin because bitcoin can removed banks if bitcoin was legalize.

[sakokinak]

of course, the bank has its own role in a country, its small example as a container for lending capital, other credits and as its, even though the development of crypto world is very rapid, but the bank has its own role, and they will not close the company, maybe later them will follow also the current development of the crypto world

true, banks is still essential today even if cryptos are soaring today, because not everything can buy and paid in bitcoin, we need banks for conversions of bitcoin to fiats in less fees, there are other purposes of banks that bitcoin cannot cater like housing loan, car loan ,business loan and salary loans, we still need banks, we can live with it up to now, we are ok with cryptos and banks co-existence.

Maybe people that will use the cryptocurrency will not deal with the banks so actively but most of us will have these services. Banks will not disappear.

[Arlette Foxsparkle]

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 think bitcoin will not affect much the bank....  Banks is very important to make our economy grow...  Probably if bitcoin will dominate the world... Banks also will start to develop and they will improve also...  Surely bitcoin will not be the reason of its future problem....  They will continue what they've start and also they will probably adopt the new currency of the world...  I hope it happen.... Banks is really important in our economy and also in our community....

[Nylelyn]

Financial institutions are not going to disappear, crypto or not. The are an essential, integral part of the current economic system. Retail banking is just a small part of it, financial institutions providing capitals for corporations are much more important, and crypto is of no danger for them.

I agree with this statement. Banks are financial institution that has been an integral part of our developing economy. They will not disappear instantly because it will still be a part of the digital era. Cryptos may create their own Crypto Banks and I believe it will be a good competition because they will offer the best services and options for its Clients.

[xandra]

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, it is still important especially to those people who still believe in banks and don't trust bitcoin yet. So i guess it won't be gone that easy not all people adopt bitcoin even how popular bitcoin now or for more coming years .

[7Dyoknga5]

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?

that's right commercial banks often earn from their clients as they use the banks services, loans, credit cards, etcetera.

Due to bitcoin function as an alternative form of payment, some credit card users has shifted or used bitcoin for payments now.

[Kim Domingo]

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?

Well it depends on the person who holds the money. In our country if you obtain a huge amount of credentials probably you should involve in Banking in which you can diversify the amount thag you would lile to save or invest, but the thing is it will never be big as it is if you risk it to this platform, what I am trying to say that Banking nowadays is very optional, since we can say that without rhis you can be profitable, and you can invest your money even in this plarform, it just that not everybody are aware to this platform and chooses the traditional way of saving.

[loveinberlin]

It is an interesting question. To my mind, it plays its role but day after day it becomes not so important as it has been before. I am not a specialist in this sphere but I think that in the nearest future it will lose its importance at all

[Chrisjay]

I think if bitcoin will rules the world maybe bank will be gone. Because why you use bank if the profit interest are low. Wjile saving in a bitcoin is huge profit.

[CarnagexD]

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?

Presently, banking system still plays the major role in the international marketing system and in the world trade and exchange. Big corporation and stockholders are still using banks as their primary tool for their financial transactions. The rise of bitcoin and other digital currency are not bank base, but still needs fiat conversion to roll in the market system, but as innovation comes in to the future, the actual fate of bitcoin and commercial banks is still yet to be reveal.

[Bershie]

I think not,most people prefer storing their bitcoin in a bank is the best and secure thing to do, but when a hacker attack it, or system bug that curropt the information on your storage keys, or the the bank manager decides to take the wealth and go happily ever after.

It's better to keep it on our own rather than keep it somewhere else, besides we can control it directly with out any consent of a bank incharge.

[Crypto24hrs]

Fore now banks remains a sinequanon  that is an indispensable part for both national and international means of business transaction hence we cant do without it for now but i think in the nearest future the possibility to do without banks can be their.

[KennyR]

Banking is all about the financial administration, without banking none of the government will function in a better way. Maybe they have flaws in the functioning, but they're much in need for a country and other needs. Even now bitcoin has got dependence upon the fiat system, which shows the need for banking.

[KnightElite]

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! Banks have important role in our economy and society, there will be big problems in our economy if the banks will disappear. Banks will exist in our economy forever because of its function and benefits in our society.

[kuncimobil]

yes I think banks will still be needed in this bitcoin era because not everyone knows about bitcoin and not every place can accept bitcoin so we still need some cash to buy some stuff and we need a bank to be able to get some cash

[Averim]

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?

A bank in the crypto is needed only to use plastic cards and so on.Otherwise i would say that we need good exchanges not banks or something similar to it.

[Irviyandi]

I think the banking is in need even though bitcoin is already there and already many who save money in bitcoin but if we want to attract funds then we also need a bank to withdraw the funds we have generated from this bitcoin

[nerlial]

Of course, banks are very important. Most middle-aged people from childhood know what banks are.  And it is difficult for them to understand bitcoin. Banks also do not stand still and study the technology of Blockchain.

[coolstory]

I think the banking is in need even though bitcoin is already there and already many who save money in bitcoin but if we want to attract funds then we also need a bank to withdraw the funds we have generated from this bitcoin

This is right but this is the financial aspect only. Bitcoin's value is not related to your bank account or withdrawal abilities. Bitcoin has a value itself with the unique environment and its usage. Please don't mix them, bitcoin is something separated from the banking system.