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Author Topic: What would happen to banks?  (Read 12794 times)
Duzter
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December 28, 2018, 07:51:55 PM
 #441

Banks will always serve as the primary transaction support system, though cryptocurrencies were highly advanced compared to the banking people find it difficult to use. In this way bitcoin along with other cryptocurrencies will serve as the secondary or alternate solution for transaction and other financial services.

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December 28, 2018, 11:39:52 PM
 #442

I agree with your thought. Banks have many different and unique ways to adapt a currency. If ever cryptocurrency replaces fiat currency, banks will only just make cryptocurrency be used as their primary money that will be debitted and creditted to the account of their clients. It can also be used as investment.

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December 29, 2018, 08:49:41 AM
 #443

Due to the birth of cryptocurrency, banks will undergo tremendous changes. Many industries in the future will be subverted, the banking industry will become more convenient, and the insurance industry may be free. All of this is possible in the future, and the world economy has entered a new beginning. Death represents a beginning, and perhaps the financial crisis will soon erupt.

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December 29, 2018, 11:06:56 AM
 #444

Yes of course They will surely have an adoption in any currency that would make their way to get in touch with Cryptocurrency and I think it will be easy to them to make an adjustment of their system. And as I know they have a lot of users that will surely use their services for their easy way of storing their investments if they have their invested currency.

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January 09, 2019, 01:44:04 PM
 #445

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
Maybe it was droped but it is not stable. so don't let it make you stress and be emotionally. it will recover soon, just focus on good side of bitcoin not to bad.
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January 10, 2019, 04:23:10 PM
 #446

Banks may take the place of miners and become a controller and also a miner. Even though, some of mining companies might be sold to banks in a few years. If this happened, goverments would take measures against cryptocurrency owners and they would try to control totally all the system via legislation.
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January 10, 2019, 08:03:08 PM
 #447

Banks may take the place of miners and become a controller and also a miner. Even though, some of mining companies might be sold to banks in a few years. If this happened, goverments would take measures against cryptocurrency owners and they would try to control totally all the system via legislation.
They would need to invest heavily in mining equipment, so heavily in order to have some mining power. I don`t doubt that they have money for that, but is it better for them to mine bitcoin or to try to mine some other coin, they can even make their own coin, and maybe that`s the best thing they can do. I doubt that they can overtake bitcoin mining from current miners, but its one of those things that are easier to say than to do. Controlling all cryptocurrencies is impossible, they can`t control all chains, all platforms, do you even know how big this is?

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January 10, 2019, 08:07:53 PM
 #448

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
Maybe it was droped but it is not stable. so don't let it make you stress and be emotionally. it will recover soon, just focus on good side of bitcoin not to bad.
Id course There is no use to stress your self as we know that soon everything will come to the track and finally we will celebrate great profit. We should concentrate on our own goal of buying coin song listen to the scammers just hold your coin as national banks are now starting to provide loan on bitcoin behalf.

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January 10, 2019, 11:16:12 PM
 #449

In every business it's the same. When new technology comes up the existing businesses will evolve or die. And obviously new businesses will also rise strong.
Same happened with mp3 and music industry...
very true what you convey the development of technology and the development of the era will make it going to be better in the future and of course it will change to become better and more modern of course following the development of the era
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January 13, 2019, 10:43:31 AM
 #450

When bitcoin become good investment for investor who have much money, I think bank is have more important way to get and make deposit with bitcoin investment. We have and need bank for getting our withdrawal and deposit money to bitcoin account.
I think bank will always be there just there way of trading will change. In the future banks will have to accept and trade in cryptocurrency; otherwise they will have to shut their door forever. Cryptocurrency is mandatory for their survival and they would never let their business crash. Banks play a vital role in our society and provide financial services to its customers.
Banks would continue to exist even if they refused to accept blockchain technology and use cryptocurrency. Banks, and first of all state banks, are part of the state and carry out various specific functions in servicing the state and its economy. Therefore, the state will always protect the existence of banks with all available means.
However, the banks themselves will use and already apply the blockchain technology, and above all this can be seen in the example of the ripple coin, and will also, at a minimum, provide fiat cryptocurrency exchange services.

The banks will live even when the cryptocurrencies popularity becomes greater. People will always need their services, and they will never refuse to use the traditional money, even if they accept the crypto.
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January 13, 2019, 11:02:34 AM
 #451

Banks will always serve as the primary transaction support system, though cryptocurrencies were highly advanced compared to the banking people find it difficult to use. In this way bitcoin along with other cryptocurrencies will serve as the secondary or alternate solution for transaction and other financial services.
Thats what I think, cryptocurrency will continue to grow and spread. but banks have a very vital role in the economy and the financial running of a country, not only a place to save money or financial transactions, banks will continue to survive as the main, while crypto is the secondary or option
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January 13, 2019, 01:17:20 PM
 #452

Banks are companies that will last for a long time, even when the use of bitcoin is greater than fiat, banks will accept bitcoin so that it always lasts, especially most banks are guaranteed by the government.

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January 13, 2019, 09:40:21 PM
 #453

When bitcoin become good investment for investor who have much money, I think bank is have more important way to get and make deposit with bitcoin investment. We have and need bank for getting our withdrawal and deposit money to bitcoin account.
I think bank will always be there just there way of trading will change. In the future banks will have to accept and trade in cryptocurrency; otherwise they will have to shut their door forever. Cryptocurrency is mandatory for their survival and they would never let their business crash. Banks play a vital role in our society and provide financial services to its customers.
Banks would continue to exist even if they refused to accept blockchain technology and use cryptocurrency. Banks, and first of all state banks, are part of the state and carry out various specific functions in servicing the state and its economy. Therefore, the state will always protect the existence of banks with all available means.
However, the banks themselves will use and already apply the blockchain technology, and above all this can be seen in the example of the ripple coin, and will also, at a minimum, provide fiat cryptocurrency exchange services.

The banks will live even when the cryptocurrencies popularity becomes greater. People will always need their services, and they will never refuse to use the traditional money, even if they accept the crypto.
You are right to some extent that traditional money is being use in some areas but most of population is after with using crypto and money is safe in this way banks are now an old way to store money. They are going to be vanish in for Sure people wants modernized and easy life. Money remain save, it grows and any where easily useable that’s why I prefer bitcoin than banks.
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January 13, 2019, 09:46:03 PM
 #454

Hopefully they die out.

Bankers are parasites and the banking industry is opaque and corrupt.

Everything’s going on to the blockchain.

Banks are just a tool of control

Kill the bankers. Kill the controllers

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January 13, 2019, 10:00:38 PM
 #455

Hopefully they die out.

Bankers are parasites and the banking industry is opaque and corrupt.

Everything’s going on to the blockchain.

Banks are just a tool of control

Kill the bankers. Kill the controllers
Bankers will carry on their work because banking is the pillar of a country and that's why you should not use bad words for banks but bitcoin is act their main work for whole world and that's why every one wanna join this currency because bitcoin is giving all benefits for us where we can everything in our life without any risk and investment can also provide us stress free future.

 
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January 13, 2019, 10:11:39 PM
 #456

Hopefully they die out.

Bankers are parasites and the banking industry is opaque and corrupt.

Everything’s going on to the blockchain.

Banks are just a tool of control

Kill the bankers. Kill the controllers
Yeah, banks is not there to help you they are just they to get your money and use it for then to make more money. The interest that you will get from your savings is very small and yet if you ask for a loan, they collet more interest. This system should be stopped, and hopefully blockchaint technology succeed on this one so we can have now a more good financial system.

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January 13, 2019, 10:17:57 PM
 #457

Hopefully they die out.

Bankers are parasites and the banking industry is opaque and corrupt.

Everything’s going on to the blockchain.

Banks are just a tool of control

Kill the bankers. Kill the controllers
Wow, such strong and brave words, John Snow.
Of course, some of them will live, that banks which now controls all the money, Wall Street banks and some others.
They know how to manipulate the markets, better than you and me, any markets, fiat or crypto, they don't care.
And now they already manipulating the crypto market, from the 2018 year. They earn on futures when BTC falling and we crying.
They know what to do. And if all money turns to crypto, they will be ready for this, be sure.
I am not happy with that at all, but I accept it.

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January 14, 2019, 06:25:53 AM
 #458

With banks, nothing bad will happen. They will always continue to work regardless of the influence of cryptocurrency. State banks are actually part of the state and the state will destroy anyone who will have a negative impact on the work of the banking sector. Commercial banks are more susceptible to cryptocurrency, but they also adapt more rapidly to changing conditions in financial relationships. If it is profitable for them to use cryptocurrency, they will do it, the situation will change, they will act differently.

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January 14, 2019, 10:21:46 AM
 #459

Banks is old institution that already survive in many condition. I am believe banks will keep survive and adopting cryptocurrency if crypto growing more bigger. Banks still needed for transaction and i think government will keep banks to boost economic growth

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January 14, 2019, 10:51:16 AM
 #460

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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