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Author Topic: What would happen to banks?  (Read 11072 times)
pluMmet
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August 03, 2018, 12:10:26 PM
 #241

banks will no longer be needed because if we save money in a bank with a nominal that is not added in the past five years the value will decrease, even if it is cut out by monthly fees. While if in the past five years, saving Bitcoin with a nominal that is not added, its value will continue to rise, because in the past five years the value of Bitcoin soared.
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August 03, 2018, 02:50:22 PM
 #242

I think the banks would remain as long as a currency of money that we know will exist, so in order to become a real threat to a bank system bitcoin needs to become a currency before.
Of course that is how it will go. Banks are the financial institutions set up by the government for carrying out various jobs and the advent of Bitcoin or any crypto currencies might upgrade the banking system but will not be able to outshine the banking system.

Also banks deal with the money printed by the government and as long as the government is printing money and people are demanding it, banks will survive no mater how advance the crypto goes.
I agree that banks will keep on existing but I think that as cryptocurrencies become more powerful and people realize that the fiat currencies are nothing but scams their power will diminish and they will have to accept that a parallel system that they do not control is going to exist for a long time, and it is also possible that they will understand this and try to benefit themselves in this new system.



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August 03, 2018, 03:57:18 PM
 #243

the bank will not be so affected by the crypto currency because there are still many who do not know about bitcoin and altcoin
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August 03, 2018, 04:19:15 PM
 #244

Many says that banks would become obsolete if cryptocurrency would take over the world in the future, but i guess not. Here are some of my assumptions on what would be the situation of banks in the future with cryptocurrency.


1. INVESTMENT
Banks will take an advantage to cryptocurrency using it as their main source of investment. They say, if you cant beat them, join them and bank owners  would do everything to fit into new society of financing to find clients on the new generation and still earn from them. Instead of UITFs or mutual funds, they would go for crypto investments.


2. CURRENCY
Or perhaps i would say a dollar account. As far as i know, banks offers a local currency account and a dollar account which can be used for international transactions such as shipment or travel. On the cryptocurrency era, there would be a local currency, dollar , and cryptocurrency account which probably an electronic account. Dollar wouldnt be a big hit that time because crypto can function the same and more effecient to do.


3. LOANS
Who can say that you can only loan fiat on banks? When the time comes, bank can offer crytpocurrency loans which can be used as an investment, business or buying something on cryptocurrency market. Im sure all items can be purchased using crypto that time including cars and real estates. So getting some cryptoloan wouldnt be a problem.


4. SAVINGS
ofcourse, the most wanted of them all. Who.doesnt want any security for their treasured cryptocirrency earnings? Banks which has the main function of keeping your money secured would offer crypto savings which produces interest over time. Preventing scams and hackers that we all afraid of.


As you see, banks would rather adopt than being extinct. Its like those businesses who innovates when society changes. If cryptocurrency overpower the economy, they should go with the flow to survive

a business needs an innovation to survive also business needs a adaptation to the current trends in the industry for them to survive also if cryptocurrency will overtake that industry they also need to innovate something or just adapt for them to be still in the market. But banks are still banks many people and businesses still believes on it.
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August 03, 2018, 10:54:03 PM
 #245

According to some forecasts, the banks will disappear.
I honestly do not believe it: they are too powerful, even if the bitcoins win will surely find the way to maintain their power.

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August 03, 2018, 10:57:25 PM
 #246

Contrary to what a lot of people believe that banks will suffer with cryptos emergence, let us all watch. Most of this banks are very smart, they may just look for a way to cash out of the crypto system, and before you know it, they will begin to offer crypto services like exchanges too.
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August 04, 2018, 03:21:41 PM
 #247

Actually banks at bitcoin use difficult. but now bitcoin is a much big cryptocurrency. and now it uses many banks development official works.
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August 04, 2018, 05:38:50 PM
 #248

Banks will be useless in the end because people wants a new technology that will brings fast,secure transaction and not only on that. Blockchain technology would do that everyone will be engage on a cashless society in the future.
Banks will adapt, after all what it is stopping the banks from creating their own blockchain and accept payments as well, if you think there are a lot of cryptocurrencies now you have seen nothing, everyone is going to have their own crypto, from governments, banks, business like fast food chains and even physical casinos, so I predict a future where cryptocurrencies will be everywhere.



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August 04, 2018, 08:06:02 PM
 #249

It would be terribly nice and useful if banks can notice the importance of sepulcherocurrency and maybe enter into the crypt. they will give their usual services to customers and conjointly give services in cryptocurrencies, like investment, savings and loans, shares shopping for with crypto, and a lot.
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August 04, 2018, 10:22:32 PM
 #250

Banks will be useless in the end because people wants a new technology that will brings fast,secure transaction and not only on that. Blockchain technology would do that everyone will be engage on a cashless society in the future.
These are all loud words and nothing more. Banks serve the economy of the country and the financial side of the state as a whole. Therefore, banks will exist as long as there are states. They will always be protected by the state. This means that if the crypto currency begins to threaten the existence of banks, then the state will immediately intervene and will limit, and if necessary, also prohibit the crypto currency. However, this will not happen, since decentralized crypto currency does not pose any threat to the banking system.

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August 04, 2018, 10:58:33 PM
 #251

Banks will be useless in the end because people wants a new technology that will brings fast,secure transaction and not only on that. Blockchain technology would do that everyone will be engage on a cashless society in the future.
These are all loud words and nothing more. Banks serve the economy of the country and the financial side of the state as a whole. Therefore, banks will exist as long as there are states. They will always be protected by the state. This means that if the crypto currency begins to threaten the existence of banks, then the state will immediately intervene and will limit, and if necessary, also prohibit the crypto currency. However, this will not happen, since decentralized crypto currency does not pose any threat to the banking system.
Yes, as the world's current economic trend is that bank is the most monetary foundation of each nation and now that crypto currency start marching its campaign globally and many people adapting it then I believe in the coming future that nation will change due to the adaptation of advance digital technology of which our world going to be and everything will change and blockchain technology will be the center of this new age, and the fiat will extinct and cashless society will happen.
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August 04, 2018, 11:01:26 PM
 #252

With cryptocurrency into existence it is found that a huge loss has been faced by the banking industry. This is quite a common factor, and to make themselves better, banks have come up with plans of adopting blockchain technology. To me banks will serve the human community while cryptocurrency will serve as a alternative to the banking needs.
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August 04, 2018, 11:01:36 PM
 #253

I think banks will still be there even if cryptos are already accepted almost every where and became legit, banks as financial institution would always upgraded their system when the time comes that crypto will ruled, then banks will also go into cryptos.
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August 04, 2018, 11:03:46 PM
 #254

They also upgrade and compete to exchanges site's because other banks now are observing the crypto society if they get a profit or not, so banks now are getting in touch by crypto soon because of that they will not be beaten as easy of that.
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August 04, 2018, 11:07:19 PM
 #255

As i think banks never be obsolete by cryptocurrency we know in every business always have an improvement or updating every new technology appears like cryptocurrency we thinking that banks will remove and they are afraid because digital money is here but some of banks adopting the new technology like here in my country some of banks embracing bitcoin so that they are improving and they can never remove just updating.

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August 05, 2018, 02:47:23 AM
 #256

I think the bank will get a lot of benefits when it comes to financial systems like blockchain, meaning that they can provide cheap services to customers and there is no distance limit to make transactions, of course people will also choose services that are cheap but not cheap, this will also have a good impact on Crypto currency price movements
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August 05, 2018, 04:56:57 PM
 #257

Banks will be useless in the end because people wants a new technology that will brings fast,secure transaction and not only on that. Blockchain technology would do that everyone will be engage on a cashless society in the future.
These are all loud words and nothing more. Banks serve the economy of the country and the financial side of the state as a whole. Therefore, banks will exist as long as there are states. They will always be protected by the state. This means that if the crypto currency begins to threaten the existence of banks, then the state will immediately intervene and will limit, and if necessary, also prohibit the crypto currency. However, this will not happen, since decentralized crypto currency does not pose any threat to the banking system.
It will happen, bitcoin allows you to be your own bank and banks cannot allow this, you are only seeing things as they are now but in the future banks will notice they are getting lesser profits and they will ask for governments to do something about it but the problem is that governments will also see their power affected by bitcoin, at the end I think banks and governments will still exist but they will be a lot weaker than they are right now.



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Rainbot
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Veronika94
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August 05, 2018, 05:33:11 PM
 #258

Banks will not suffer much because of crypto currency.  They will be able to find their role in the provision of services.
Popov_popov
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August 05, 2018, 06:48:09 PM
 #259

They will find something else you can do.  They are like leeches everywhere.
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August 06, 2018, 10:02:50 AM
 #260

Actually banks at bitcoin use difficult. but now bitcoin is a much big cryptocurrency. and now it uses many banks development official works.
It is too hard to say anything regarding the future of the banking system for now as there are so many people who have already started withdrawing their money from the banks as they are now interested in investing their money into different crypto coins. The future of the banks will be in serious trouble the moment the governments will declare these crypto coins as legal currencies.
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