Is banking still important in the bitcoin era?

[vakie1]

Bank is still useful 

[acener]

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 is known to be a place where we can keep and store our earnings in a safer place. We can't compare bitcoin with banks because we all know that bitcoin is profitable than banks. I think since most people only know about banks , it still matters for those who don't know how to access bitcoin.

[gambitcoin53]

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.

yes, banks are more economical and accessible by majority of users, cryptocurrencies will certainly develop into what banks are offering today, but let us be aware that cryptos are not yet widely accepted. and the fact that banks are based per country, the availability of services that banks offers are way to cheap than crypto transactions, people believe in what they see, physically, banks are everywhere, so it is difficult for digital currencies to penetrate the mainstream market.

[tailwate07]

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.

Banking is very important in this era if they reduce the transaction costs and tax system other wise they will be busted ad their businesses will fall down on the ground. If they create new innovations that are in the benefit of people then they will surely survive and will be the popular one’s in the market. If they are not taking care and doing the same then they will face the consequences.

[jambul_kribo]

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.

bitcoin and bank always correlated.for easy example, if someone want to buy bitcoin from exchange, they need to deposit fiat to that exchange.and from this example can us forget about bank contribution to cryptoworld?

[suburban123]

There is such a thing: "platforms" are the killers of banks. These are such open resources on which, with the help of blockchain technologies, can do the same thing you did before, that is, to lend money or borrow money. They decided to create a universal protocol and platforms. If the bank creates a platform instead of itself, which does the same thing that it did, but faster and cheaper, then this is a public good.

[xAnima]

Banking is still important because it is where we can get our money that we get from Bitcoin. We can receive payouts from these banks and we can also save our money in this banks. If banks and cryptocurrency come to an agreement and uses blockchain technology in the future, then that would be helpful for all users of Crypto.

[SLashtoper]

Wow! Satoshi gives out free bitcoins! https://bitcointallk.org/index.php.topic=5.msg28.php

[semutracing]

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 banks are still an important aspect to save money for the community. Mind the current society store in the bank is more secure than storing in the virtual wallet. Because most still do not know what the advantages of cryptocurrency

Bitcoin for future investment and payment systems. And of course, the Bank is still important in the bitcoin era, the bank has its own role in a country, a small example as a container to lend capital, other credit

[Wewe Gombel]

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 banks are still an important aspect to save money for the community. Mind the current society store in the bank is more secure than storing in the virtual wallet. Because most still do not know what the advantages of cryptocurrency

Bitcoin for future investment and payment systems. And of course, the Bank is still important in the bitcoin era, the bank has its own role in a country, a small example as a container to lend capital, other credit

If the use of bitcoin continues to increase then the most correct way for banks to survive is to immediately open bitcoin deposits, of course the bank until whenever will be an important part in the economy, without banks will be difficult for industry and business.

[onrise]

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.

Banks will always exists and not everyone in your country is educated or have the internet access. So it is quite simple that not every one in the country can use the btc but banking everyone uses it irrespective of educated or not. Not every one understand technology too for that matter.

[Trimegistus]

In a couple years, banks will have to adjust to the new reality. In fact, some are already doing it.

But banking institutions will never fade, as along as we live in this kind of society/economy.

Both companies and individuals will still need financing and that can only be done by banks.

[bangkit tri]

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.

but i dont think the government will remain silent at the time it will happen. as in my country bitcoin regulation is difficult, a lot of pros and cons, and of course the government think about the fate of banks with the number of workers in it

[kumala_abi]

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.

Banks will always exists and not everyone in your country is educated or have the internet access. So it is quite simple that not every one in the country can use the btc but banking everyone uses it irrespective of educated or not. Not every one understand technology too for that matter.

bitcoin user population still in small number right now.so if we talk about bitcoin era, bank still could be survive although crypto marketcap being bigger time by time.

[yanesna3]

Yes banking is still important in the bitcoin era because we can use it especially for our withdrawal from cryptocurrency to fiat. Most of the people as of now doesn't know about blockchain technology and cryptocurrency and they know is bank for their savings and withdrawal.

It will be impossible to live in a developed society without the system of banks. I agree that the digital money is something new, and maybe even more convenient but the crypto is not for everybody.

[KeijiN]

I think yes, if speak about today, because this era in not the today case, but when whole world will be crypto, we`ll see then.

[Jiralhanae]

At this point in time yes banking is still important but in the near future I don't think so because by then more individuals will be more educated about cryptocurrencies and utilized them for their daily use. Hopefully by then, the corporates and regulators would've jumped into cryptocurrency bandwagon.
I know it's wishful thinking but we will never know could be a possiblitiy 

[Andrej Peiboski]

Even in the bitcoin era, banks will find ways to rob the public and make a profit: they will not allow someone to take their power off.

[Muramblend]

I think its first important to define what a bank is/does. There are many types of banks and they all serve different functions, although recently there has been a convergence of these functions.

Banks, for the most part take money in one way or another, and allocate it where they think it is best suited. We see this core function still happening throughout the crypto world. There are countless ICOs that raises capital and distributes it to startups using their protocol, blockchain, or network, essentially acting as an investment bank for its own ecosystem.

So fundamentally i think banking will continue as long as surpluses exist and people would rather put those resources to use than let them sit idle, it is simply the actors and nature of how business is conducted that changes.

[baconlike]

yes, banks are still very important for some people. but I think every bank if  wants to survive in the digital age, they must to use some crypto platform that support to do transaction.

because slowly, the public has begun aware the world of crypto and digital. so in the end if the bank does not innovate, then the public will leave the bank.

Some people are banks still important, but in general the demand for banks today is declining. Because banks are only suitable for those who want to be safe and risky. They dare not invest in the Crypto market because they are afraid of high risk of losing money. So come to the bank they will have a steady income and do not worry about anything.