Is banking still important in the bitcoin era?

[mornabo]

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, bank is still important because it is where we can deposit our money and we can save it. Even the bitcoin is existing now those banks is really important because it help us to save our money and bank have an interest also. Bank can work together with bitcoin.

I think as long as we still use fiat as transaction and major currency then bank will always be needed, besides banks are not only a place to save money or conduct individual transactions, but also give effect to microeconomics like provide loan fund and so forth, banks will always be needed until whenever

[arrmia11]

Of course it is, we will still be needing that in order to have a safekeeping on our money. Although we knows that bitcoin's one concept is to eliminate or lessen the banking system or what we called the third party transactor, still we will be needing those. Bank has an advantage and functions so does bitcoin. Those functions will help us to lessen our burden and to have a convenient lifestyle.

[jimmybush07702]

Truly it is.bank is as yet vital in light of the fact that it is the place we can store our cash and we can spare it. Indeed, even the bitcoin is existing now those banks is extremely vital in light of the fact that it enable us to spare our cash and bank to have a premium too.

[buternasek]

Of course bank is still important even if bitcoin is already here because bank is the main back bone of our economy and we cannot that switch right away no matter how good crypto is. And also in our country we still need banks whenever we convert our bitcoin into fiat this is where we deposits our fiat.

[legenduim]

Bitcs are just making the society heavy with their burden. Btc exchanges and banks would have been enough for us LOL

Here I will disagree with you. First of all, I cannot call our time Bitcoin era, and secondly, the banking system is needed also even when BTC is used globally.

[Rossy Akbar]

Definitely yes, I mean bitcoin itself can make their own banks if they want,  but currently any single transaction we do with bitcoin must be through the banking tho, so the bank is still really important. But I hope actually the bank can work together with bitcoin and the government, I think it would be great economy movement for the country if they're together.

[Lady Coquet]

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 bitcoin era will take a lot of years to happen, but if it happens banks will never be important anymore because bitcoin do not need banks to store them or keep them safe, bitcoin have blockchain technology. Bitcoin has no physical form, so you cannot store it into a bank unless it has a physical form.

[Tomborneque_1102]

Yes, I believe that Banks is still important in Bitcoin Era. I know that the Banks will always find its way to innovate too and cope-up with Bitcoin. besides, it's not Money only that we can keep in the bank. there are a lot of things that Banks can do for us in the near future. such as loans and many more. so I"m pretty sure that Banks will stay even in Bitcoin Era.

[Cameo]

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.

Exactly saving in bank is really not have that much profit as much as bitcoin has, now people like to invest in bitcoin than saving in banks because it gives high profit than putting your money in bank system, now it is very clear to be seen that bitcoin is gradually taking rule over the world, and people have fiat on bitcoin than any other investment for sure, saving money in banks is now an old method of saving and it is now modern age for sure.

[Ailmand]

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, I think there will come a time that more and more, if not, all banks would have a department that would be designated to catering cryptocurrencies. I say that because banks are business entities and whenever they see a chance to take advantage of a market, especially when it's in its growing stages, they would surely dive in it to gain more income. Since the cryptocurrency market, despite the many negative things swirling it, has been steadily gaining popularity, it would not be surprising to see more business companies like banks to jump in its bandwagon.

[sinta23]

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 bitcoin era will take a lot of years to happen, but if it happens banks will never be important anymore because bitcoin do not need banks to store them or keep them safe, bitcoin have blockchain technology. Bitcoin has no physical form, so you cannot store it into a bank unless it has a physical form.

indeed the bitcoin does not require the bank, but the ones who need it may be us, because the bitcoin results can get our hands through the bank, so the bank is also quite influential on ourselves. so for that bank is also quite difficult to remove.

[Man From The Future]

Anytime banking is very important for a country. Although now we live in digital world that bitcoin is increasingly popular, banking is still needed by many people. As bitcoin users we also need banks to exchange bitcoin into physical currency. The state needs banking for economic growth, finance and managing the resources of the state. I believe bitcoin will not destroy banking, because they will grow according to their own path.

[Xising]

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 don't think so mate. I much more foresee that banks and similar business entities would make the market work for them by incorporating it in their system rather than totally fencing it out of their business. I say that because as much as the cryptocurrency market is risky, it still has its positives that banks would still see it as good investment. In business anyway, there is no return if their is not risk involved. I think what's taking them so long is studying how much they can mitigate or totally avoid episodes of losses because that would mean that they make put in peril the money of their depositors.

[jak3]

Sad but true, banks are still needed in the current era yes because physical cash is existed every large quantity and cannot be removed completely from the world even if all the government permitted it I doubt that they can remove the cash from all over the world. there is cash but still, we have to increase the demand of Bitcoin and other coins every day as much as we can only then in the future there will be only one coin which will rule on other coins in the market and of course, there will be some new coins too

[Snaic]

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 have been and will be important in any state and regardless of the extent to which it introduces crypto-currencies. Crypto currency can not destroy banks or make them disappear in any way. The banking system is needed by the state, so the state will protect their existence. The view that the crypto currency will strongly affect banks so that they can disappear is wrong. Banks and crypto currency will eventually be forced to work together, banks will provide citizens with various types of services in the crypto currency. It's unavoidable.

[Biggapp]

Bank and bitcoins are not the same thing. Physical currency and crpyto currency are two different things. They trade/transact in government backed fiat currencies only. Although Bitcoin is a legal payment tender in some countries. Your traditional banks do not directly deal with Bitcoin. There might be some intermediary who convert Bitcoin to local currency and vice versa. Secondly Bitcoins is against the concept of centralised authority in charge of your money. If you need a bank to park your money, you do not need Bitcoin.

Banking is still important in the era of Bitcoin. Banks have their own importance as it play an important role in any developing country in the process of tax collection and other functions. You can call banks as a financial institute which gives you many benefits in the form of current account, business account and saving account. It gives you also loans for business purposes and banks have connections all around the world and it is so easy and legal every where. You can easily make use of banks and make transactions every where in less time so banks have its own value and Bitcoin is new in market it will take some time.

[DiabolicAnt]

I think that yes. Banks will always play a significant role because there always will be people who wants to store their money or to get a loan etc.

[Dark Sky]

I think that yes. Banks will always play a significant role because there always will be people who wants to store their money or to get a loan etc.

Yes, banks are still important in bitcoin era because many of people are save their money  in bank and that's business dealing are though the banks, and we receive our money from bitcoin with bank, so without banks any country cannot succeed.

[Chooroz]

Any time, there is a bank. It was a bitcoin era. If there is no bank, then the money of the state, the state and the people will be stored and how the transfer. And where will the financial evaluation of a country be based?

Banks will always be important even in the bitcoin era, because banks has so many funtion in this world and not all people in this world can adopt bitcoin so for me there will surely still a lot of people will put there money in banks over than investing it in bitcoin.

[Rizky Aditya]

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 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.

to date, half of the users of crypto currency are still using the banking system. The fact is that in everyday life we ​​still use real paper money, not crypto currency. Crypto currency for us is a means for earning and investing.

Banking has its own importance. Banks play very important role in the economy of a country still banks is importance in the era of Bitcoin. Every one loves to save their money in banks because it is safe place and trust worthy. Bitcoin is also to much popular some times it feels that Bitcoin will down banks as well because of its popularity and demands and its high value.