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Author Topic: Is banking still important in the bitcoin era?  (Read 1817 times)
Kamote_1102
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May 23, 2018, 11:17:48 PM
 #621

Of course, Banking is still important even in Bitcoin Era. The Banks will always have a role in every Country's economy. Banks play a big part in our everyday lives. so we can assume that Bitcoin will so it's job while Bank is still existing. and I know the Banks will accept Bitcoin sooner or later.

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May 23, 2018, 11:47:21 PM
 #622

When the role of bitcoin gets stronger then there is no reason that banks should be maintained, of course everyone is tired of expensive and slow service (must queue) to send money.
Well when all people is adopt to used bitcoin i think banking will not be very important anymore because a lot of people will start to put there money with bitcoin or on other cryptocurrency rather than banks but even banks will not be important it will still have a role in country.

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May 23, 2018, 11:56:53 PM
 #623

When the role of bitcoin gets stronger then there is no reason that banks should be maintained, of course everyone is tired of expensive and slow service (must queue) to send money.
Well when all people is adopt to used bitcoin i think banking will not be very important anymore because a lot of people will start to put there money with bitcoin or on other cryptocurrency rather than banks but even banks will not be important it will still have a role in country.
It still needed probably at some businesses who doesn't believe yet on what bitcoin can do. Some bitcoin holders still have stored in their banks especially at times like this that bitcoin is in drop that holding will only be the solution.


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May 24, 2018, 02:44:17 AM
 #624

Banking is still important. In fact still majority of people do not know anything about bitcoin. But nowadays, besides borrowing from banks, You can mobilize capital with ico so bitcoin still plays a very important role.
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May 24, 2018, 03:21:30 AM
 #625

I'm sure that at any time the role of banks will always be important even though the use of bitcoins is massive and growing, making the role of banks irreplaceable as the most trusted place for everyone to saving and borrowing.

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May 24, 2018, 03:39:45 AM
 #626

I agree with that. Although the premium features of bitcoin are bringing about financial freedom and enabling people to own their own bank with the initiative, plus the performance of growth based on the value of interest. tell In reality, apart from society, it has always been proved that the bank is indeed the source of energy to maintain and balance the value of society and to promote the economic performance of each country.
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May 24, 2018, 03:43:25 AM
 #627

Banks are the lifeblood of a country, and whenever Banks are irreplaceable.

But I think that with the development of block chain technology people's life will become more convenient.
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May 24, 2018, 05:01:21 AM
 #628

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 are important in any civilized society. Even with a very high use of crypto currency in the world, banks will vserivno exist at almost the same level, without them the state can not plan the economic development of the country and implement their plans.
Crypto currency and banks should work and will work together. It's unavoidable.

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May 25, 2018, 09:58:03 AM
 #629

Saving money will execute blockchain as of now began yet we will see more to come to not so distant future more banks coming into blockchain space empowering for cryptographic forms of money too.
Banking is important but limited now and this is due to the smooth and frictionless procedure and function of Bitcoin which is attracting by people. The banking popularity is reduced now and less people are attracting towards the old traditional banking system. If banking system really needs to survive they will present the system with new innovation like Bitcoin.

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May 25, 2018, 10:17:08 AM
 #630

Powell said there are “meaningful” challenges to a central-bank cryptocurrency, that privacy issues could be a problem, and private-sector alternatives may do the job. I subscribe to this..
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May 25, 2018, 10:31:34 AM
 #631

We are still very much primary stage of Bitcoin. I think, it still do not passes its childhood. It is a growing platform. But bank are well recognized by every people. They are habituated to use the banking systems. Banks are generally deals with fiat currency. on the other hand Bitcoin is only traded through online. That does not mean bitcoin is less important. Bitcoin is important at its own world.

Bitcoin is becoming popular day by day. But Bank and Banking system is still important to the general people. We hope with the passes of time the importance of bank will reduce and the importance of Bitcoin will increase through technological revolution.
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May 25, 2018, 10:44:39 AM
 #632

banking is more active and banks are aslo about to use blockchain technology for fast payments Hsbc is first bank using blockchain for fast payments and many banks are adopting to blockchain
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May 25, 2018, 10:54:44 AM
 #633

The moment when the banks will be out will come when the crypto adoption will be high enough to enable buying regular goods and recieving payments in crypto.
Right now its very hard to perform everyday financial transfers without fiat, on every ladder of the system you need fiat and banks are glued to fiat.
So if someone will start a self sustainable crypto-only community it will be a true system test for a no-banking world.
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May 25, 2018, 11:31:48 AM
 #634

Definitely the bank has a power to route the moneyfrom external sector to internal and repaeat this cycla on and on. Bitcoin really does need to comply with the standards in the society say for example, it has to go under a lot of transaction to be able to transform your digital currency to physical one.
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May 25, 2018, 11:37:41 AM
 #635

Of course it is your back up when you are having an emergency happens and it is very reliable and also very accessible.  I am not saying bitcoin is not accessible but atleast you have two different assets and savings storage so that's why banking is still important.

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May 25, 2018, 12:08:18 PM
 #636

Banking system is still very important as of today that lack of adoptions of blockchain technology. So there are many factors actually to be considered when totally no banks to be used and bitcoin to be the main currency. Hence, banking for me is very important since others already adopted this system way long ago and it has big impact still to the people.

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May 25, 2018, 12:12:20 PM
 #637



With ripples on their side I guess banks wouldn't give up without a fight. There were rumors already that banks will accept BTC too which is why they still are going to be relevant still as they'd like to blend in. XRP will be used by banks as they XRP community claimed and if this is true then the banks will be important.

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May 25, 2018, 12:18:26 PM
 #638

Of course it is your back up when you are having an emergency happens and it is very reliable and also very accessible.  I am not saying bitcoin is not accessible but atleast you have two different assets and savings storage so that's why banking is still important.
saving in bank more accessible and easy to liquidate.if have something emergency we can take it soon.it little different with withdrawing bitcoin or other crypto currency that need several steps.


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May 25, 2018, 12:29:53 PM
 #639

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.

The banking institution with the entry of Bitcoin currency trading market, had the FEAR of the unknown in some way. the business institution reacted differently with the emerging concern on issue on Banned,Scammer, and the never ending issue on Regulation as to the use of Digital currency into trading market. But, in reality the Banking institution together with the Business community would not allow that the Banking system will be affected by the crypto currency trading market, This is one of the very important part of the government, the banking system, with out it, no country can survive for its the soul of one country economy. it is therefore, that we have to leave with the crypto currency digital transaction, as well as, the banking system.

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May 25, 2018, 12:40:27 PM
 #640

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.

 
The banking system is very much important with the Bitcoin crytpo currency trading market, not to mention the important of Financial Banking System of its country, this the soul of one country economy. No country can survive with out the Financial institution or the Banking system, they are the one  in charged  on money circulation, control of possible over supply or over circulation resulting to inflation which bad to its economy. We have to accept the facts that banking system will remains as the growing acceptance on crypto currency trading transaction is very much visible on the market treed.

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