What would happen to banks?

[Janation]

Banks will be very much around for a very long time to come. They will need to revamp their policies and procedures in line with decentralization when there is a massive acceptance to crypto coin by the mainstream society

Many private banks in my country have already started to do that. They are focusing more on user experiences and providing a lot of features to make their banking experience easier. That is the primary reason they are able to compete with government banks.

But regarding accepting crypto, that is not possible because they are also governed by same laws.

Banks will live forever because people will always place their money on the banks since not everyone is capable of investing on cryptocurrency because the price is too expensive sometimes.

I could say that banks will live forever but in the future, the bank that we usually know will be gone. From the start of cypto currencies, Bitcoin and other cryptos can transact quickly and anonymously, there is also the blockchain, don't you think that they will let it pass? I guess they will be using it to improve their services to people.

Also, the technology is advancing way faster than before. We are in the digital age and the time where currencies and things with great values became digital is closing, just watch some videos where digital things, well it is exactly in-game items are being sold for a great price and from that you can tell that it will be in the future.

[AbuSarap1]

I think it is a self-safeguarding to influence everyone not to over-react against cryptographic cash, for me it's trickiness and getting master in every country, banks will constantly be there in light of the way that they are so basic.The bank will no vulnerability showing all together not to quickly annihilate later on, hear so much that banks consider such countless types of cash the most risky and unfit for theory or as a techniques for portion

[dublados]

The bank will no powerlessness demonstrating all together not to rapidly destroy later on, hear so much that banks consider such endless sorts of money the most hazardous and unfit for hypothesis or as a strategies for divide, I think it is a self-defending to impact everybody not to over-respond against cryptographic money, for me it's precariousness and getting expert in each nation, banks will always be there in light of how they are so essential.

[siracunas]

Despite the fact that crypto and bitcoin is developing and may become greater on the future banks will in any case continue as before as a passage of exchanges, manager of reserve funds and capacity of critical instrument in light of the fact that before crypto rise bank is as yet the person who interfaces the two for you to purchase bitcoin you need fiat who is regarded a legitimate delicate.

[bsce1-1]

In spite of the way that crypto and bitcoin is creating and may end up more noteworthy on the future banks will regardless proceed as before as an entry of trades, supervisor of save assets and limit of basic instrument in light of the way that before crypto rise bank is up 'til now the individual who interfaces the two for you to buy bitcoin you require fiat who is respected a genuine sensitive.

[dificanovi]

crypto currency can take over the world in the future therefore the bank must cooperate with crypto currency, if the bank does not immediately accept crypto currency then the bank will be left behind. at this time already many people who switch to crypto currency.

[Jedabucol]

For me it's cunning and gaining authority in every country, banks will always be there because they are so important. The banks would be the hero of a centralized crypto, but banks are not going anywhere.

[BeNBeNfdnzm]

Nothing bad will happen to banks, they own almost all money in the world and they already have many crypto coins too, if they want they just can buy all top10 coins and rule the market

[1Referee]

if they want they just can buy all top10 coins and rule the market

It's not that easy. If we look at how splintered the market in its entirety is, one entity or a group of entities will need to extremely overpay for their coins in order to own even a semi large chunk of coins in the end. Another thing is that banks or other wealthy entities don't trust exchanges and will not participate in them; their only way is to accumulate coins through private deals, which is getting increasingly harder with so much OTC demand.

Miners have plenty of buyers to sell their coins to, mostly at 25-50% market premiums due to their virginity. Services connecting OTC traders have to deal with far more demand (ie, more buyers than liquidity providers). People holding Bitcoin don't really want to sell many coins anymore with how the price will be going up. It's not easy to obtain Bitcoin anymore, especially not in extremely large numbers.

[goaldigger]

I still consider banks as a business given that private association controls it with the lead of central bank and businesses need to adopt in order to survive. If they oppose trend or innovation, people wouldnt patronize them anymore and find something who suits their pleasure.

[paynercash]

Nothing bad will happen to banks, they own almost all money in the world and they already have many crypto coins too, if they want they just can buy all top10 coins and rule the market

Surely no problem will happen to the bank, only the new user is the problem.
The bank owns almost all the money in the world and they understand very well inside the market. They are very stable and no matter what happens, the bank is ok!

[South Park]

Banks will adapt and how much they will have to adapt will depend on the level of adoption, but if bitcoin is adopted globally and it becomes one of the most important currencies around the world then the economy based on bitcoin will make banks change their ways, it is going to be impossible to create an economy based on debt with a currency that has a limited supply, this more or less works in fiat because the amount of fiat is unlimited.

[ReiMomo]

As per my knowledge banks will shut down their business or they will adopt crypto currency as a legal tender for deposits and withdrawals. Also, they will set up or convert their ATM's into crypto withdrawing machines. I think this will happen in another 5 years maximum and the banks will be forced to do this as to sustain and withstand competition from crypto currency and others.

[Fakhri1907]

Bank will have no power to control people's money. the owner can ez to do whatever he want to his money. save, send, etc

[Undermood]

In the future, states will officially accept the Crypto and if they are legitimate, they will have to change the systems of the banks. If they can change their systems, their intended use will remain the same, but they will exist.

[Semosuchi Tesongrato]

Banks are too strong an institution to simply disappear.
Even if bitcoin were to become the main currency, traditional money and a range of services would still be needed.

[Veronika94]

In any case, banks will exist.  They will find what to do and how to influence the economic market and people's lives.

[Popov_popov]

And banks will still find something to do in the new market.

[Xenoph0bia]

if they want they just can buy all top10 coins and rule the market

It's not that easy. If we look at how splintered the market in its entirety is, one entity or a group of entities will need to extremely overpay for their coins in order to own even a semi large chunk of coins in the end. Another thing is that banks or other wealthy entities don't trust exchanges and will not participate in them; their only way is to accumulate coins through private deals, which is getting increasingly harder with so much OTC demand.

Miners have plenty of buyers to sell their coins to, mostly at 25-50% market premiums due to their virginity. Services connecting OTC traders have to deal with far more demand (ie, more buyers than liquidity providers). People holding Bitcoin don't really want to sell many coins anymore with how the price will be going up. It's not easy to obtain Bitcoin anymore, especially not in extremely large numbers.

I think banks will continue to function.No cryptocurrencies can challenge or overtake banks.People all over the world have faith in banks and use them.Banks are save and secure unlike cryptocurrencies which are very volatile and risky.Although cryptocurrencies are profitable but still we cannot believe them.One can also get good interest rates from banks too.Banks are functional from traditional time period.But these cryptocurrencies have started recently.Nations are also not supporting cryotocurrencies as they are decentralised.

[Maame Esi Sergio]

It would be very great and helpful if banks will realize the importance of cryptocurrency and perhaps enter into crypt. They can provide their usual services to customers and also provide services in cryptocurrencies, such as investment, savings and loans, shares buying with cryto, and a lot.