What would happen to banks?

[ildario_n]

Banks are the chain dogs of the government. They will not disappear anywhere, I assure you

[1714023988]

1714023988

[sidkz]

Perhaps in some future, the banks will also transfer partially, or completely to a cryptocurrency, they will have no choice if the majority of people use the cryptocurrency, and this will happen soon

[Ezenwanyi1]

The post is very educative and informative as well.
You did well poster.
I usually laugh when some people say that banks would go into extinction in the future because of cryptocurrency.
What these set of people do not know is that every business do try to adjust to changes to suit their teeming customers from time to time.
And that goes to show that should Cryptocurrency take over , banks would also change gear and adjust.

[jcarlo]

Banks will adopting and take advantages on cryptocurrency market. Banks have a lot experience in financial sector and i think bank will survive despite cryptocurrency market growing. Beside adoption on blockchain technology, i am believe bank will involve in cryptocurrency transaction

[biskitop]

I don't really like the bank system, especially in terms of lending and saving. why should there be bank interest which in my opinion is too burdensome. whereas if we store in crypto, our money has no bank interest and precisely the value can grow.

[andika2018]

I am agree that banks will survive. Banks have a good infrastructure in finance industry and government depend on banks and making economic growing by debt and lending. Cryptocurrency can not replace banks industry because people more familiar with banks than using crypto for their transaction

[Valhalaa]

I am agree that banks will survive. Banks have a good infrastructure in finance industry and government depend on banks and making economic growing by debt and lending. Cryptocurrency can not replace banks industry because people more familiar with banks than using crypto for their transaction

really in terms of anything the bank will remain above cryptocurrency, because banks have clear rules than those on the blockchain
security and responsibility also to the government while the blockchain is only its own responsibility

[Natalim]

I am agree that banks will survive. Banks have a good infrastructure in finance industry and government depend on banks and making economic growing by debt and lending. Cryptocurrency can not replace banks industry because people more familiar with banks than using crypto for their transaction

really in terms of anything the bank will remain above cryptocurrency, because banks have clear rules than those on the blockchain
security and responsibility also to the government while the blockchain is only its own responsibility

That's true, we cannot beat the bank because they are run by the government and this world is also.
Blockchain is a great invention but crypto coudl be not, as when the government chooses their own and just use the blockchain
they can make crypto illegal or comply with the law that will only eliminate the decentralization.

[Bitfling]

I am agree that banks will survive. Banks have a good infrastructure in finance industry and government depend on banks and making economic growing by debt and lending. Cryptocurrency can not replace banks industry because people more familiar with banks than using crypto for their transaction

really in terms of anything the bank will remain above cryptocurrency, because banks have clear rules than those on the blockchain
security and responsibility also to the government while the blockchain is only its own responsibility

That's true, we cannot beat the bank because they are run by the government and this world is also.
Blockchain is a great invention but crypto coudl be not, as when the government chooses their own and just use the blockchain
they can make crypto illegal or comply with the law that will only eliminate the decentralization.

Government or central banks can create their own cryptocurrency to ban or prohibit bitcoin. I still believe central banks is too powerfull in our current economic system. Banks will adopt blockchain technology but to replace fiat money with bitcoin, i think its too far and need a long time

[awik p]

I am agree that banks will survive. Banks have a good infrastructure in finance industry and government depend on banks and making economic growing by debt and lending. Cryptocurrency can not replace banks industry because people more familiar with banks than using crypto for their transaction

really in terms of anything the bank will remain above cryptocurrency, because banks have clear rules than those on the blockchain
security and responsibility also to the government while the blockchain is only its own responsibility

That's true, we cannot beat the bank because they are run by the government and this world is also.
Blockchain is a great invention but crypto coudl be not, as when the government chooses their own and just use the blockchain
they can make crypto illegal or comply with the law that will only eliminate the decentralization.

Government or central banks can create their own cryptocurrency to ban or prohibit bitcoin. I still believe central banks is too powerfull in our current economic system. Banks will adopt blockchain technology but to replace fiat money with bitcoin, i think its too far and need a long time

I agree. moreover banks are under government supervision and of course the government still has a lot of calculations to use bitcoin. of course there will be a new policy from the government, we will wait later. but at least with the acceptance of the blockchain making the development of bitcoin, where many countries will enter it on the stock exchange

[reality18]

Bitcoin in this year can't spend money banks, because bitcoin's income is declining, now I have never taken money in the bank from the results of bitcoin, now I am experiencing a lot of losses

Most investors are experiencing the same fate as you but this is not the end. Bitcoin will rise again this year. Good news are gradually hitting the market - Binance announces its new adoption where credit cards can be used to purchase tokens via its Simplex Partnership, Iran in talks with 8 countries for use of cryptocurrency in Financial transactions etc.

[poldanmig]

Of course, the banks will not disappear, but I think that with the expansion of the crypto currency, their functions and  their quantity will be significantly reduced.

chances are the bank will use the economic system on a blockchain and it is possible that the development of the crypto currency will be even better with cooperation with banks but requires time and process

[Alexlax]

If we look at the future, when the cryptocurrency replaces the current money, the need for banks will decrease very much, but it will not disappear. And it will not disappear, because one should not forget about gold and other physical expensive resources.

[semobo]

Of course, the banks will not disappear, but I think that with the expansion of the crypto currency, their functions and  their quantity will be significantly reduced.

chances are the bank will use the economic system on a blockchain and it is possible that the development of the crypto currency will be even better with cooperation with banks but requires time and process

Banks are not working for the benefits of people so they wil never implement Blockchain for the transaction because it will make the customer to use as they want.But if the banks are ready to accept it then it maybe appreciated more than the cryotocurrency I think.

[bravehearth0319]

Bitcoin in this year can't spend money banks, because bitcoin's income is declining, now I have never taken money in the bank from the results of bitcoin, now I am experiencing a lot of losses

But even Bitcoin was in declined period this is just temporarily only. We just don't know when it will rise again in term of its price value.
Though, just like I never input any money in banks so far. But in my assessment bank will never be disappear instead I think they will do some innovation about their strategy about in cryptocurrency or bitcoin.

[Moshaid]

Bank will still run fine but with the widely global acceptance of bitcoin, banking sectors will have to implement blockchain at the long run maybe in future to maintain their standard. Because Crypto has a potential figure to overthrone bank with this daily growth.

[Natalim]

Bank will still run fine but with the widely global acceptance of bitcoin, banking sectors will have to implement blockchain at the long run maybe in future to maintain their standard. Because Crypto has a potential figure to overthrone bank with this daily growth.

We should not worry for the bank as they themselves are not worried.
What we have to worry is the future of crypto as whether it fails or succeed, banks will still be here.
This world will remain as normal, fiat currency will still be dominant and crypto is just another option where minority of the popular has the potential to use it.

[ToyotaFortuner]

quite simply, if many people who begin to know the benefits of storing their assets in cryptocurrency can be safer, can be more profitable and can be saved without a monthly tax, it will make the bank afraid of losing its customers.

[Tylev]

Bank will still run fine but with the widely global acceptance of bitcoin, banking sectors will have to implement blockchain at the long run maybe in future to maintain their standard. Because Crypto has a potential figure to overthrone bank with this daily growth.

Nothing should happen to banks. They will always work in their normal mode, since the spread of cryptocurrency can not significantly affect the banking system. Banks themselves will choose  services that they can provide in cryptocurrency and so that both the risk is moderate and the bank has its material benefits. Even if they have fewer customers, they will find work for themselves all the same.

[Adriano2010]

Nothing will happen, they will still works as always but only if governments will want to change something then yes something will change but until then nothing will happen.