Banking will still be significant until cryptocurrencies can "stand on their own

[walemil]

Banks and cryptocurrencies will remain together for a very long time but bank will be at the affected end most of the time because new people coming to invest in cryptocurrencies will have to get their monies out of the bank in order to invest them into cryptocurrencies.

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[FreeOxen]

Banks and cryptocurrencies will probably co-exist ultimately. I don't see one replacing the other.

[Vinalians]

for the moment the Bank is still standing upright, then how is the continuation of the bank if Crypto already stand alone and in the public know so that in use fully and all countries wear it. is there going to be a temporary panic in the financial world? .... and all the banks in every country collapse is that what will happen hopefully there is no market panic

It can't be happen to cryptocurrency even now the cryptocurrencies are can stand on their own. They have so many markets right many exchangers what we call. Banking will be still significant because from the first place it is the storage that people uses.

[darewaller]

Banking will always be significant no matter what happened, crypto won't be able to replace the bank position, bank is not only the place to save money, but it's also the place to control inflation, and the government wont allowed the country's economics can be controlled by a bunch of whales, if the crypto already giving too much influence the government will take action to regulate or banned crypto

Banks are what we call one of the pillars of a country. So if we removed them, that country will be crippled so it doesn't makes sense at all to opposed or even think that they can be replace by crypto as a whole.

I don't know how the crypto could stand on its own though, did the OP mean self-regulation? or some authority overlooking everything? Crypto is decentralized so I don't think it will stand on its own, in my opinion. Plus the price keeps fluctuating and chancing by the minute how can it stand when there's so much outside factors that really affects it?

It does not make any sense at all and far beyond reasoning to think that cryptocurrency will even be replacing banks.
Also, it is already obvious that cryptocurrency will not be standing on its own while looking at the angle the government are going with regulation.

Banks are already established from generation to generation and no government will be giving that up for anything, and at the same time, cryptocurrency may get established more like we have always had the stock market but in a different form with the government still in control, one way or the other.

[MidKnight]

Banks and cryptocurrencies will probably co-exist ultimately. I don't see one replacing the other.

That is the most realistic thing that would happen after a few years in my opinion. Banks will revolutionized and they will give much more importance in cryptocurrencies rather than fiat.

[yousbabtle]

for the moment the Bank is still standing upright, then how is the continuation of the bank if Crypto already stand alone and in the public know so that in use fully and all countries wear it. is there going to be a temporary panic in the financial world? .... and all the banks in every country collapse is that what will happen hopefully there is no market panic

It can't be happen to cryptocurrency even now the cryptocurrencies are can stand on their own. They have so many markets right many exchangers what we call. Banking will be still significant because from the first place it is the storage that people uses.

No doubt banking has vital role in our lives and bitcoin will take a long time to have their own. Till that time people will use banks and avail the facility banks provide to them. One thing more is also important that bitcoin is still not the currency of the world and many people still hesitate to invest in it. Definitely they will use banks for their money related matters. So the banks are still significant and will remain significant in the near future.

[LeaderAMB]

I believe even though cyrptocurrency can stand on their own, banking is still significant.  Because banking is essential to everyone.  Banking is not all about money being stored in an institution but rather getting profit from the stored money (% earned).  Aside from that, institutions like bank is still the better way of storing our important documents and stuff aside from money.

yep, I completely agree with you. We all know that although cryptocurrency is much more popular right now, it still has many people who don’t know what bitcoin, altcoin are. Besides banks always guarantee our money than cryptocurrency. We can’t be sure whether our money is still stable because as you know cryptocurrency is notoriously volatile and you easily lose your money in crypto market. Most importantly, now bitcoin is not supported too much which makes me till believe that banks are still significantly essential.

[daxiake]

I once answered this problem to the previous thread.
IMO banks will never collapse or be replaced, even though cryptocurrency has its own stand. a little bird told me this, that banks and cryptocurrency will co-exist and we need to know also that banks existed before cryptocurrency existed.
Do not count your chickens until they hatch!

Thats correct. Banks and crypto are two different financial systems and will continue to co-exists in coming years. Banks do business in fiat currency which is backed by central governments and majority of governments are showing zero tolerance towards crypto (the reason is obvious). I don't think crypto will ever replace banks.

[bitgolden]

Banks are not going to collapse. People are still used to putting money in the bank because they trust the bank.

But Banks are not satisfied with the cryptocurrency, which means that Banks know that the future of cryptocurrency will cause trouble for them.

These crypto currencies are one of the serious threat to the banking system and that all the banks are very much worried because if these crypto currencies keep on flourishing in the similar way, then banks will get disappear because of the reason that people will then g for investing their money into the crypto currencies and they will not go for banks to keep their money safe.

[Rumayanhi]

the bank will not be replaced by anything because the bank is a good financial institution management and recognized the country
but crypto also did not rule out the possibility will work together against the bank

[Osarman]

Banks are not going to collapse. People are still used to putting money in the bank because they trust the bank.

But Banks are not satisfied with the cryptocurrency, which means that Banks know that the future of cryptocurrency will cause trouble for them.

These crypto currencies are one of the serious threat to the banking system and that all the banks are very much worried because if these crypto currencies keep on flourishing in the similar way, then banks will get disappear because of the reason that people will then g for investing their money into the crypto currencies and they will not go for banks to keep their money safe.

The only advantage which the banking system has over the crypto currencies is the support of the government and that is the only thing which is not letting the crypto currencies to take lead over the banking system and the regular currencies for now.

However, there are likely chances to see a positive change in the future and things turning out in favor of the crypto currencies and that will be a serious threat to the banking system.

[naidray]

Banking will always be significant no matter what happened, crypto won't be able to replace the bank position, bank is not only the place to save money, but it's also the place to control inflation, and the government wont allowed the country's economics can be controlled by a bunch of whales, if the crypto already giving too much influence the government will take action to regulate or banned crypto

They have and will always be and even as angry as we are when it comes to seeing banks being gotten rid of by cryptocurrency, it is something we will never see happen.

Cryptocurrency, decentralization is here to stay and at the same time, banks are never going to be ready to go anywhere and I do not even see cryptocurrency standing on their own with the way things are, so I guess it is a coexistence we will just have to live with at least in our own generation.

[Whosdaddy]

"Stable price" it's not stable if it's just going down every year.
Maybe you have the same amount of dollars you had before but your buying power decreases and this is what is actually matter.
The banks saves your money and at the same time it lends 10x more to other people, it has the visa to do whatever it wants with your money and you can't actually do anything about that.
The only thing banks are good for is to save innocent people from themselves

Stability you guys will not be able find that any time on any crypto currency bro. As I see the bitcoin price is started bumping in the market if you want make the money out it. Please utilize the time and invest the fund as much you can mate.
Banks are the worst place and our money is being to used by the international corporates. This is happening through out this world.
If you are good understanding the difference of bitcoin and fiat cash means he will be able to make profit out it.

With just your own pure common sense you will able to differentiate between local fiat and bitcoin/crypto when it comes to their feature and in regards with legality. We know bitcoin/crypto is decentralized and they do have their own path when we do talk about development.It can be adopted but would really just remain into its area on where it cant really bypass banks existence or would completely vanish banking sector. I might either believe blockchain tech will be adopted and soon banking system would be fasted up even more and might be the cause of such unemployment of those personnels who works into this industry.

Banks have been so big and established all over the world that we would expect cryptocurrencies all of a sudden to sweep them off their positions. These two will keep on and will always go hand in hand which I believe mostly that cryptocurrency will end up being more like the stock market with the way government is going about the form of regulation and with this, we will always get to see banks still doing their thing without any issue.

[Arkham Knight]

Well, I think banks will help bitcoin to stand on its own. Time will come when banks have given up destroying bitcoin and they realize that they should join instead. It's really the banks that are just preventing crypto from taking full control of everything so I hope that they wake up.

[supermine]

Banking will always be significant no matter what happened, crypto won't be able to replace the bank position, bank is not only the place to save money, but it's also the place to control inflation, and the government wont allowed the country's economics can be controlled by a bunch of whales, if the crypto already giving too much influence the government will take action to regulate or banned crypto

They have and will always be and even as angry as we are when it comes to seeing banks being gotten rid of by cryptocurrency, it is something we will never see happen.

Cryptocurrency, decentralization is here to stay and at the same time, banks are never going to be ready to go anywhere and I do not even see cryptocurrency standing on their own with the way things are, so I guess it is a coexistence we will just have to live with at least in our own generation.

But the number of banks will decrease if the adoption rate increases and slowly the crypto may take over the banking system but cannot be replaced completely because banks crypto currencies can't be used in all the corners of the world so we need fiat money also.But if both stays then it can be good for the future of money system but the important thing is that people need to stop using crypto for only money making.

[mcrey11]

Digital currency and physical money is running on different track, but sometimes they have an crossing intersections that happen due to the demand of the digital currency or vice versa. The most awaited moment if the majority of community begin to trust and understand fully the blockchain platform then the banks started to face big problem on that.

[Nahl]

even though crypto banks will stand on their own someday but i think there is no options to government attempts to makes banks collapse because until whenever government will still support banks because they can get a lot of benefit from banks but probably if this is happened then the banks will do particular inovations following to development era

[Crypto Sway]

This type of FUD will not happen. Yes the original movement of crypto was founded w/some ppl that held the ideas that banks would all fall. Unfortunately, it won't happen like that, right now they are amongst the most powerful people in the world with the most resources you think they will allow anything to change that? No, they are going to implement regulation and use cases into daily life and make it "safe" for society to enter crypto bc they approve and use it. This is a more accurate description of how it's going to happen instead of them all collapsing simultaneously and know they will fight tooth and nail to win in this market again, it's a competition.

[Spaffin]

for the moment the Bank is still standing upright, then how is the continuation of the bank if Crypto already stand alone and in the public know so that in use fully and all countries wear it. is there going to be a temporary panic in the financial world? .... and all the banks in every country collapse is that what will happen hopefully there is no market panic

Crypto currency can not cause banks to collapse. This is a myth. Crypto currency is nothing bad and significant to cause banks simply is not capable, it can only reduce profits to bankers. Banks have existed for a long time and will exist as long as there is a state. The state is in great need of the banking system and will always support it.

[futuret]

This type of FUD will not happen. Yes the original movement of crypto was founded w/some ppl that held the ideas that banks would all fall. Unfortunately, it won't happen like that, right now they are amongst the most powerful people in the world with the most resources you think they will allow anything to change that? No, they are going to implement regulation and use cases into daily life and make it "safe" for society to enter crypto bc they approve and use it. This is a more accurate description of how it's going to happen instead of them all collapsing simultaneously and know they will fight tooth and nail to win in this market again, it's a competition.

The only reason because of which the banking system is having a priority over the crypto currencies is the support of the government and that this is the only thing which is not letting the crypto currencies to surpass the banking system and rest of the regular currencies. however, we can really hope for the positive attitude of the government towards the crypto currencies in near future.