Is banking still important in the bitcoin era?

[Situk brok]

If I think banks are still in need even though there is already bitcoin to store assets that we have because this bank is a place to dilute the funds obtained from bitcoin because without banking we can not take the results of trading and mining bitcoin this.

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[cloudproject]

i think banking are still using in the kind of this era, but in the different thing bank just using for some loan or just for the big legalize thing used

[Glorypaasa]

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?

When it comes to crypto we can usually use our wallet as a bank and the good thing is it can generate a profit also but in when it comes to bank the security of our many is much safer but the disadvantage our money is not generate a profit because bank use our money to the credit and their the one who gains a profit but still I believe we need bank in a bitcoin era because if we convert our crypto usually we convert it to the bank.

[overseer470]

I think the existence of the bank is very important in the bitcoin era. Because banks are involved in economic reforms, basic economic indicators such as GDP, import-export, investment,  State budget revenues and expenditures, social evils and people's lives have been improved.

[biletskiy]

The role of the bank will always be important until whenever, this is because the bank becomes the main pillar to drive the economy, the bank will exist anytime because it is fully protected by the state.

I think that the banking system will play the great role even when the whole mankind will start using the cryptocurrency. Cash and credit cards will be needed.

[Watchy312]

The bank in my opinion is still very important, the bank is a place to save assets .. banks facilitate us in terms of taking money. what if no bank, how a country manages state finances.

[reidel21]

The Bank performs the functions of assessing and calculating the risk of non-repayment of the loan and setting an appropriate rate for its repayment. When borrowing through crypto currency, you need to have some kind of collateral. So the banks will continue to exist for a long time.

[vaughn125]

It sure is! Banking is very important for us to have complete order in the society. If ever we get to lose the banks, this world will literally fall into chaos. I say this because like most of the people here, I see that there are still loads of flaws not in just bitcoins but also on the other cryptos that exists nowadays. I think that until these flaws gets eliminated all at once, there will be no chance for cryptos to take over.

[waichi]

When Bitcoin and other cryptocurrency are all in use, no fiat money anymore, then I don't see any use of banks and other financial institution. But for now, banking institutions still have a role in our economy.

[ruski]

Yes, banking is still important nowadays because most people around the world use banks mostly for completing their financial transactions. The whole crypto community is still a minority compared to the global community. We have to wait several years until banking get replaced by Bitcoin and crypto currencies.

[fivefingers]

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?

This is a very good one and will most likely become one of the heated discussion about BTC. The reason being is that, BTC utterly destroys the money making scheme of banks. Banks primarily earn money by allowing the people to deposit their money in a very stagnant (with very very little interest rate on it) financial vehicle. The banks then of course use this money to lend to people, and circulate the money but still keep a good amount of money for the depositors to withdraw their money at any point in time. Imagine if people can easily store their money in an e-wallet or just dispose majority of their fiat money and turn it to bitcoin for transactions. There'd be no point in keeping your money in the bank. If the Bitcoin will become as stable as the fiat money, trading and exchanging of currency will be of very little cost. You can make an exchange to the other side of the world instantaneously, you can store your purchasing power in it with very little risk of being affected by the inflation.

This only my opinion but in the near future, if BTC will be accepted and adopted by our government, the banks still be playing a very important role but they will take a MASSIVE hit as a lot of people will be transferring their money in bank to get a portion of the digital currency.

[BagzMM]

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. Banks plays great significance in the financial system and economy.It is the key component in financial system that allocates funds. However, with the evolution of Bitcoin, the scenario has changed. The economic power that vested in the government and central banks is shifting to the public. This economic power can be challenged by people with this digital currencies.

[abas_ir]

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. Banks plays great significance in the financial system and economy.It is the key component in financial system that allocates funds. However, with the evolution of Bitcoin, the scenario has changed. The economic power that vested in the government and central banks is shifting to the public. This economic power can be challenged by people with this digital currencies.

we still bank services to operate bitcoin transaction.deposit to exchanger from fiat , need bank services.so until whenever it will used by much people and other instituion , especially about credit.

[Jembut Ireng]

If bitcoin marketcap continues to increase and reaches at least 500 $ trillion and daily transactions reaching over 100 $ trillion then it is certain that banks are useless because everyone will choose bitcoin.

[evilgreed]

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. Banks plays great significance in the financial system and economy.It is the key component in financial system that allocates funds. However, with the evolution of Bitcoin, the scenario has changed. The economic power that vested in the government and central banks is shifting to the public. This economic power can be challenged by people with this digital currencies.

we still bank services to operate bitcoin transaction.deposit to exchanger from fiat , need bank services.so until whenever it will used by much people and other instituion , especially about credit.

           As what you have said. Banks has their own significant role in the economy, and whether we like it or not we don't have a choice and still even if we have this crypto we still need to use banks. Not only that since it has a certain role in our economy, a certain country's economy are circulated through banks and we cannot deny the fact about that.

[Dhimas Kanjeng]

I think the role of banks is always important and can never be replaced with anything, even though everyone controls transactions with bitcoin but business and industry will always rely on banks for costs and capital.

[liseff3]

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?

For us the existence of the Bank's very important and the bank is the end of all transaction related to bitcoin especially when we cash the bitcoin.
Because the existence of bitcoin in our country isn't like Japan and the Netherlands which every citizen free to use bitcoin like fiat currency that can be used as a tool for daily transactions or commercial transactions

[Thewolfofcrypto]

I mean we should understand that crypto market and bank industry are the thungs that not comparative in terms of 'age'. The bitcoin is relatively young and there is no way for it to replace the whole banking system by one even if very powerful currency.

[jostorres]

Yes, banking will still be relevant. Maybe not bank for fiat but for crypto. I don't know how it will be but thats what i think of.

Like everyone says, there is nothing impossible in this world and even word impossible itself says I M possible. This statement makes everything so easy. We can’t expect such banks for crypto right now but yes in late century or even in the next century when bitcoins would be the only source of transactions and the sole currency running worldwide, then they might be banks for them as well.

[voztata]

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

Not now. This statement might be considered later but not now. Things aren’t that much easy and simple. Bitcoins are facing so big problems and they are continuously are under attack. These coins have to struggle so big that can only the way for them to enhance their living. But still, we are hopeful that bitcoins would be making best performance and make them determined.