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

[Ubay82]

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

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[milewilda]

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

Banks will collapse?I dont think so yet this thing is very an impossible thing to happen and i cant really think off that crypto would really comes to a point on where it would able to stand on their own.I would like to ask on where bitcoin or cryptocurrencies do get their value? Its still on local fiat.It might progress and develop but wont really coming to a point on where they would become independent.

[richardsNY]

Banks are here to stay, whether we like it or not. On top of that, if crypto actually becomes a settled asset class, banks will hop on board and adjust their core business to make themselves crypto friendly in each and every aspect. If you seriously believe that they will just sit back and watch how crypto is taking over, you are delusional. I personally don't even understand why people think banks will face serious problems if crypto gains more ground, and for that reason might disappear at some point. Banks adjust to that what brings them further. If that means they need to adopt crypto, and it's legally allowed, they will. If people (generally speaking) have a strong dislike towards banks, then they should move away from them partly or entirely, and focus on Bitcoin.

[Ubay82]

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

Banks will collapse?I dont think so yet this thing is very an impossible thing to happen and i cant really think off that crypto would really comes to a point on where it would able to stand on their own.I would like to ask on where bitcoin or cryptocurrencies do get their value? Its still on local fiat.It might progress and develop but wont really coming to a point on where they would become independent.

Imagine, you transact without a bank as an intermediary or Peer to Peer (P2P). It's certainly faster and cheaper without the number of outgoing costs, is it? This is the advantage of Blockchain's technology in Bitcoin and cryptocurrency.

Blockchain technology is like a cash book that records transactions that occur which then spread to the P2P network. Anyone transacting using Bitcoin or cryptocurrency automatically becomes part of the network and has access to view transactions. so in my opinion Bitcoin will tear down the Bank so why Many central banks in the world Panic

[Fuhre]

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!

[Ms Emi]

Cryptocurrencies can stand their own someday, it will take time to let them be stable although price still remains that it depends on the investors and user numbers but the bank will also there, this will be competing in the future and they will co-exist but something will happen since they have competition when it comes to what money to use!

[mrcash02]

Banks will survive while the masses keep using them. Fortunatelly, the traditional banks can be overcame once new banks appear offering better deals to its users. The greedy banks should bankrupt and new banks more friendly to Crypto-Currency on its essence and more friendly to customers should appear and take their spots. Banks and Crypto-Currency can live together pacifically, since banks respect what Crypto represents and was designed for.

[NeuroticFish]

and all the banks in every country collapse is that what will happen hopefully there is no market panic

This is what many don't want to understand: cryptocurrencies will not make the banks collapse. OK, they may have to adjust some of their services, but not a big deal.
Cryptocurrencies will indeed make banks earn less money and that hurts them, but that's all.

Governments work with inflationary currencies. They don't know another way. Banks do the same. And it's not bad. You don't want to get a loan in Bitcoin to buy a house since you may have to pay millions or billions for it because Bitcoin is deflationary. There are few inflationary coins, one is Dogecoin. Now ask yourself, will National Treasury give up on Dollar for Dogecoin?

So let inflationary world stay with their coins and better ask them let us stay with ours.

[StevenPop]

Banks are not going anywhere. They will adapt and coexist with cryptocurrencies. Even banks will start using blockchain technology for their transactions and accept cryptos fully. They are here to stay

[Ethan Manson]

Im not a maximalist in this regard. I can't see a world where the banks are displaced, not any time soon anyway, its too much of a long shot in my opinion. In order for it to succeed in the way you envisage it will have to be incorporated into the banking system and some concessions will probably have to be made.

[jakagintiri]

banks will always exist and crypto will not drop the bank because both have a very important role in the economy, it is true that banks and crypto will co-exist and require balance in the economy, the bank reminds its users of the economy. risk of investing in crypto and ICO currencies. At the same time, banks are trying to adopt blockchain technology in crypto currency so that technology used by banks is not left behind by Blockchain technology.

[bohr]

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

I really doubt banks are going to disappear even if cryptocurrencies where to became a major part of the economy, bitcoin promises to make us our own bank and it does but many people do not have what is necessary to be their own bank, just look at the amount of people that lose their coins every day they are not ready for the responsibility and so they would rely on banks to secure their coins.

[rickadone]

Banks will survive while the masses keep using them. Fortunatelly, the traditional banks can be overcame once new banks appear offering better deals to its users. The greedy banks should bankrupt and new banks more friendly to Crypto-Currency on its essence and more friendly to customers should appear and take their spots. Banks and Crypto-Currency can live together pacifically, since banks respect what Crypto represents and was designed for.

Banks will always be greedy and nothing will happen to them and as much as I feel you are saying all that out of bitterness to see banks go down completely, which I feel the same as well, unfortunately, it cannot happen. We all keep saying cryptocurrency is a threat, but with regulations, banks can start trading cryptocurrency as well and we may start having an over the counter transactions with banks, so at the end, they will still be able to play their card well to gain some relevance.

Presently, banks should not even see much threat yet since fiats will still always be needed until we get to a stage where cryptocurrencies can easily be used for day to day activities, but in that way regulation will still be the norm of the day anyway. Banks cannot collapse and even if the blockchain technology ends up taking over, they will still find a way to integrate it into the system to be able to stay relevant.

[slaman29]

Banks will always be greedy and nothing will happen to them and as much as I feel you are saying all that out of bitterness to see banks go down completely, which I feel the same as well, unfortunately, it cannot happen. We all keep saying cryptocurrency is a threat, but with regulations, banks can start trading cryptocurrency as well and we may start having an over the counter transactions with banks, so at the end, they will still be able to play their card well to gain some relevance.

Presently, banks should not even see much threat yet since fiats will still always be needed until we get to a stage where cryptocurrencies can easily be used for day to day activities, but in that way regulation will still be the norm of the day anyway. Banks cannot collapse and even if the blockchain technology ends up taking over, they will still find a way to integrate it into the system to be able to stay relevant.

Can't really blame a system that was set up specifically to create the concept of money, and then create an economy revolving around their system... to want to maintain that system. But you're right. Despite all the things they've been blamed for, and all the things they have admitted to (how many global economic crisis have we had already? and debt crisis?), it's already so pervasive, so there's not much we can do to remove them even if we wanted to.

Banks long ago recognized crypto's decentralization as a threat. But they have won many battles now, brought regulations and centralization and even their own cryptos now. Their days are numbered, but will still be around for a very, very long time. We and our grandchildren will probably even still see them get stronger first before that.

[13abyknight]

The whole idea of a decentralised system of currency and transactions was to achieve self-reliance while having the highest level of security. All these banks and other centralised agencies are tampering the name and fame of cryptos by calling it out to be the next Tulip bubble. This will go on till the end users begin realising that these centralised agencies are having a field day manipulating them to think that cryptos are a menace.

[Baoo]

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

In general, I do not think that the banks will collapse despite that the era of digital currencies have led to financial problems in some countries, But they always have strategies to avoid the financial crisis, especially for the big banks.

As well, In this period, they are making new digital currencies in a secret way. And Ripple (XRP) has created from him and now it is the third best currency is the market and their value marker cap is very huge compared to their low price because banks are investing with an acceptable value in them.

On the other hand, It is in the interest of many governments or banks to deal with digital currencies because they are experiencing great success, despite the existence of many crises in this period.

[hatsoff2btc]

And one thing you don’t know yet is that Bitcoin can never stand on its own. Everything in the world is already being controlled by fiat, and even Bitcoin is being controlled fiat too, so  there is no way it can stand on it own. That’s why sometimes when I see some people talk about how Bitcoin will control banks and take over everything, I usually consider it sick.

[harizen]

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

I can't  imagined why some people have a mindset like that. It's not really making sense to me.

Literally, banks and cryptos have different purposes, usages, systems, development, aspects, technology, innovations etc. Even how bloom the crypto technology is on a certain country, banks will still be there standing strong as it has roles that cryptos can't give.

Those crpyto enthusiasts are thinking too much that even those real facts are being disregarded. 

[noormcs5]

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

Banks are not collapse, but banks are not happy with crypto currencies. Recently i met a banker and he is dislike and argue with me about crypto currency, it mean banks know that in future crypto currencies will make some trouble for them. But now i think every thing is normal and under-control, I don't see any panic situation in market.

[sunsilk]

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.

Banks has been there since the time the means of currency is through gold and silver so their continuation isn't a question even there's cryptocurrencies who can be our very own bank.

People has the right to choose if they will stay with banks which is not questionable because many believes and trust the banks.

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

There's no need for them to panic, they will stay as long as the government will have the control to a country's economy.