What would happen to banks?

[NeuroticFish]

How come your example can be applied to banking industry.

Banking industry is so vast that even if crypto will be the new thing , still they will remained. But prior to that, it will be very difficult to erase banking system even for decades. Honestly most crypto users here have a definition what is bank just because of interest vs holding cryptos. It's not like that.

Banks are not designed just for saving the money scheme. It has many purposes and advantages. Im a crypto enthusiast but not to the point that I will erase what are facts and closest thing to happened.

Banks "die" every year over the world. Of course, they don't die off, they are being bought by other banks, their products are changed and re-branded and so on. I don't know why this is hard to understand.
Of course, the whole banking system will most probably don't die off. Despite of many bitcoiners' opinion, I too believe the banks are useful. And most of them can evolve.

[squog]

I'm pretty sure banks will also join the crypto currency world if fiat become obsolete (which i doubt will). They will do the same thing they do in banking like loans, savings, investments and exchanges. Maybe they'll also have their own coin and or wallet that is highly theirs. I don't doubt that even now, banks have stakes in Crypto currency.

[crisnel26]

I'm pretty sure banks will also join the crypto currency world if fiat become obsolete (which i doubt will). They will do the same thing they do in banking like loans, savings, investments and exchanges. Maybe they'll also have their own coin and or wallet that is highly theirs. I don't doubt that even now, banks have stakes in Crypto currency.

Eventually, when the time comes where the Cryptocurrenciea have become more popular and more widely used globally, then banks have no choice but to cope up with what the market demands or else they have to shut down. In a digital age, I am sure that there is a possibility that fiat money will somehow become obsolete.

[Sled]

I'm pretty sure banks will also join the crypto currency world if fiat become obsolete (which i doubt will). They will do the same thing they do in banking like loans, savings, investments and exchanges. Maybe they'll also have their own coin and or wallet that is highly theirs. I don't doubt that even now, banks have stakes in Crypto currency.

Eventually, when the time comes where the Cryptocurrenciea have become more popular and more widely used globally, then banks have no choice but to cope up with what the market demands or else they have to shut down. In a digital age, I am sure that there is a possibility that fiat money will somehow become obsolete.

That is really what is happening to the other part of the world and to some countries, they are now engaging with cryptocurrency and they are now accepting it as a legal currency and a good system that they will be following in order to have a modernized system and a more advanced system compare to other countries.

[bizarro]

In my country there is an appearance that banks don't give a damn about cryptocurrency not considering it as a serious threat to their business, so possibly they will fall suddenly, without any anticipating.

[Ng93]

it seems to me that there will be a very long and protracted process of transition of ordinary banks to the crypto-currency segment. I am inclined to believe that only a small part of banks will accept bitcoins and other well-known altcoins. Because for many banks it will be a great important decision in the development of crypto economy. I have met such ICO companies, which are presented in the form of Crypto banks of the modern century. It's a great future.

[imapd]

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.

[Jose Rizal]

The bank will no doubt act in order not to quickly wear out in the future, hear so much that banks count so many cryptocurrencies as the most dangerous and unfit for investment or as a means of payment, I think it is a self-defense to convince everyone not to over-react against cryptocurrency, for me it's cunning and gaining authority in every country, banks will always be there because they are so important.

I think that is true, well I think bank as well as the government doesnt show much attention for the community since they see this as a competition between decentralized and centralized system and of course mass people will definitely choose decentralized which is the power is equally distributed to everyone, amd they see it as a threat there would a time that allegedly they manipulate the information that thr media will share to everyone.

[SHAWN-MIDWAYS]

Maybe banks become weak and they also involve with crypto currency. They offer people can use their banks to save bitcoins. Who's know they make their own wallets and gives an offer to their peoples. But it 
Can change the use of fiat also it can affect the economy too 

[yulionoo]

yes, I think the bank will never be extinct. but maybe they will learn about the world of cryptocurrency and will probably utilize or adopt cryptocurrency. so banks will grow. but if the bank does not do that. maybe that will happen in the future. the bank will be left behind. especially as the advances in technology and almost everyone uses and utilizes technology. banks must still be needed by people. so is the fiat currency, it will never be extinct. but maybe in the days to come, maybe people who use the bank will be more reduced.

[Pab]

Nothing will happen at that time.Banks are lords of that world
Even Dods-Frank regulations has been removed because banks are paying for congressmen
election campaign.Corruption they are choosing political leaders they are laundering money
Does any banker went to jail for his frauds
And crypto as for now they are making additional money on btc
 

[SolomonSollarsNSense]

I believe banks will always be there, for this a financial institution , the time the cryptos will be popular around the world and will be used by many as currency, then the banks should adjust and accept any transactions which the programme related to running a cryptocurrencyvin the banks because banks are business financial institution so banks would really join cryptos.

I still think Banks are the biggest companies in the whole world and it would be impossible to dethrone them unless they collapse themselves. The collapsing of banks will not come from somewhere outside disrupting them like some silicon valley startup or whatever and certainly not bitcoin and crypto in general.
However if they keep going this greedy themselves and deal with derivatives and gamble on TRILLIONS of dollars, in the end they will end up with the short stick (which kinda what happened in 2008) so maybe not in 10 years but in the future we are moving too fast with technology and humanity, in 100 years or 200 years who knows what could happen.

[Umkar]

Even if the crypto currency is fully legalized throughout the world, the banking system will continue to exist. Banks have a lot of their specific functions, in addition, they serve the financial side of the state. Therefore, banks will exist as long as there are states.

[SirLancelot]

If in the banking sector the blockchain is implemented, then the labor of many employees will not be needed and they will be fired.

Exactly because banks are not just limited to the financial transaction and in offering saving accounts. There are lots of other duties they do for the government like tax collection and meeting the accumulation of required reserves. Besides, the government also helps them by giving them loans on low interest rate so I do not think crypto particularly Bitcoin can outshine banks. They however can reduce the money these financial institutions make.

[Janation]

Even if the crypto currency is fully legalized throughout the world, the banking system will continue to exist. Banks have a lot of their specific functions, in addition, they serve the financial side of the state. Therefore, banks will exist as long as there are states.

Banks will really continue to exist in the world even if the cryptocurrencies are legalized. As you have said they have their specific functions the reason it will really exist maybe forever.

What will only happen to the banks are improvement and development. Since cryptocurrencies might be legalized in countries, they will find a way to develop their securities and their services for that.

[lungu113]

Even if the crypto currency is fully legalized throughout the world, the banking system will continue to exist. Banks have a lot of their specific functions, in addition, they serve the financial side of the state. Therefore, banks will exist as long as there are states.

Banks will really continue to exist in the world even if the cryptocurrencies are legalized. As you have said they have their specific functions the reason it will really exist maybe forever.

What will only happen to the banks are improvement and development. Since cryptocurrencies might be legalized in countries, they will find a way to develop their securities and their services for that.

This could not affect banks if cryptocurrency will become popular in the world. First bank is a big industries which most of all people used it and store their money in there.

[Impulseboy]

That is an interesting thought, however, I think that banks will not give up easily. Even though cryptocurrency is getting more and more popular and a lot of people are starting to use it now. Banks may even get into crypto or develop their own to compete with bitcoin. It will also be a long and process to transition from traditional banking to bitcoin if this happens.

[concept2]

That is an interesting thought, however, I think that banks will not give up easily. Even though cryptocurrency is getting more and more popular and a lot of people are starting to use it now. Banks may even get into crypto or develop their own to compete with bitcoin. It will also be a long and process to transition from traditional banking to bitcoin if this happens.

Well I think this thought is worth my reconsideration about what would happen to banks when cryptocurrencies take the lead. I totally concur that banks would do great in providing security to crypto coin accounts and savings and they would probably be the right man in giving crypto loans. And I agree that banks would have to change somehow rather than fight against bitcoin to ensure their existence when so many people use cryptocurrencies. But that the nature of cryptocurrencies is relatively opposite to it of banks raises doubt that whether banks would perfectly incorporate cryptocurrency when people can do most of these things by themselves and how banks would control these activities when the crypto market is anonymous. It's just my opinion.

[South Park]

Banks will still exist but only few people will be using it, those are the people who dont have any knowledge about cryptocurrency. Crypto will overpower banks which may lead to people transferring to crypto.

Yeah I agree with you. If banks didn't adopt crypto currency they will surely not good to them. We are already in modern world, that's why people are engaging and adopting themselves in the world of technologies. Banks should learn to innovate.

Banks are a business and they are only going to adapt as much as necessary so if bitcoin is never adopted widely around the world then banks will not have a reason to adapt but if bitcoin is adopted as much as we think it can then banks will adapt but at that point we will need to ask ourselves, why do we need banks at all? And the most likely answer is that most bitcoins users currently in the forum will have no need for banks.

[Rumayanhi]

The bank will not die, all workers are paid their wages in the bank, and I highly doubt that all workers and the world government will accept that their workers receive their wages in the crypto. The same thing happens with loans. People use banks to provide loans and I doubt this system is lost because the loan system has a plan to use flat interest rates as well as fixed prices. If I use crypto I can't imagine it for now.