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Author Topic: Will banks disappear because of cryptocurrency?  (Read 64283 times)
lKSLMNSLKnkndlksnkJ
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October 31, 2018, 04:19:36 PM
 #541

This really what I keep on asking myself since we all know that cryptocurrency dominates the bank as time pass by. I wonder will it result to total collapse of bank industry?


Feel free to drop your comments here.thanks

The battle for the adoption of cryptocurrencies is a battle over the minds and hearts of the masses.

No one has to convince any Bitcointalk member that electronic money is the wave of the future.  We already know.

Crypto hasn't taken off yet for several reasons:
1.) People love their existing slavery.
2.) People are brainwashed to accept authority rather than question it.
3.) The banks and corporations are blackwashing crypto and scaring people with propaganda and lies.
4.) The powers that be have been in control for close to 5000 years now (and probably a lot longer than that;) and they are not going relinquish this power without a lot of death and destruction.
5.) No one has invented yet a universal app that runs on a cell phone that makes buying and selling crypto simple so anyone can do it.
6.) People are broke.  The middle classes are being wiped out in order to continue to prop up the lifestyles of the 'families'.  Most will hold on to their dollars until they are absolutely convinced a change is coming, with most holding dollars until it is too late to profit.  This will keep the dollars flowing slowly into crypto, and then all at once.  Chaos will ensue and the 'new' rich will rise up.

Banks are our enemy.  They hate us and will genocide people to prevent their loss of power and control.  Crypto is the silver dagger in the heart of the vampire banking system but it will likely take several generations before true freedom starts to emerge.
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rdewilde
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October 31, 2018, 04:22:12 PM
 #542

Any hypothesis can be possible. Who knows after banks disappear, we will have a new kind of "bank" in the crypto world?
Banks existed long before the crypto appeared, so stop the illusion and think that the crypto could make the bank disappear. Remember that crypto is nothing compared to banking. If crypto grows and is used by many in the future, then the bank may apply blockchain to their system

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October 31, 2018, 04:23:23 PM
 #543

This really what I keep on asking myself since we all know that cryptocurrency dominates the bank as time pass by. I wonder will it result to total collapse of bank industry?


Feel free to drop your comments here.thanks
No, they are smart enough, if cryptocurrencies will be dangerous for them, they will buy cryptocurrencies and offer them. They will continue in the same job, they will offer crypto loans, they will invest crypto, they will hold your crypto in "safety place" and so on.
oOVVVVVVVOo
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October 31, 2018, 04:48:36 PM
 #544

   The fact that I decided to play with tokens by speculation with them is one thing. And the use of blockchain -technology by banks - is another.
Mr.Noda
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October 31, 2018, 05:37:10 PM
 #545

While there are willing to take loans will not disappear. Banks is also a good manipulator in essence. And while there is cash, there will be banks.

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Galley
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October 31, 2018, 05:41:14 PM
 #546

It is unlikely that banks can threaten that from the side of cryptocurrency. Banks have existed for many years and at all times they were followed by people who wanted to have as much control over society as possible and they would not allow competition from decentralized structures.

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October 31, 2018, 05:42:05 PM
 #547

I think the banking industry will not be replaced by crypto, crypto is just another alternative that is present as a choice of tools and how to transact

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November 01, 2018, 04:04:17 PM
 #548

Banks will never disappear because they have been building their system for many years. High level of protection is proof of that.
And in case of problems, they always have someone to turn to.
And if, for example, funds from the same cryptocurrency wallet are lost, then nothing can be fixed.

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November 01, 2018, 04:14:46 PM
 #549

I think they will find an option. If the crypto currency will become mass adopted, the banks will switch to crypto currencies and will create their own. Just look at Ripple, if the mass adoption happens, a lot of banks will simply use Ripple.
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November 02, 2018, 08:31:09 PM
 #550

It would certainly be good, but I don't think that banks will back down at least in the near future. It is highly likely that they will introduce the blockchain technology in their work.
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November 02, 2018, 08:49:06 PM
 #551

Let's face it, The crypto technology is outstanding and pretty impressive with its lots of advantages but going as far as saying or thinking cryptocurrencies will chase our banks or put them out of business is far fetched and plain wishful thinking. It will be completely impossible at least in the near future to see crypto ending banking activities. The truth is, not everyone has an idea what crypto is also, the guys on wall street and Major financial organisations will not want this to happen. It going to take a lot of effort to realise this dream.
spaso_87
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November 02, 2018, 08:59:53 PM
 #552

the Bank will continue to exist and it will be accompanied by an increasingly good in cryptosystems using them. even sure technology such as blockchain will be able to help the bank's performance is also getting better. balanced with crypto then this will get better. When the replace of course not because every country had certainly will let banks in the countries they cover with easy because of crypto.
jpnl0006
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November 02, 2018, 09:04:47 PM
 #553

That is almost impossible to think of cause the bank has its own function like wise cryptocurrency has its to but rather i think the bank can adopt the system of cryptocurrency.But banks can not go extinct at all
Isiaka208
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November 02, 2018, 09:10:20 PM
 #554

Unfortunately, banks will not disappear because there is a new boss in town. In the grand scheme of things banks will further adopt the new technology and leverage in it with their already existing knowledge of finances.

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November 02, 2018, 09:42:24 PM
 #555

No banks will not disappear but they will embrace the technology. Banks will make use of crypto to make more profits and safe itself some cost. It will be unwise of banks to throw off crypto. We can now see banks using xrp to make transactions and to save remittance cost. Blockchain will transform every financial part of our society.
As my friend always say crypto will do to banks what email did to post office.


It would be a really bad idea if banks integrates with these technology. Banks and bitcoins/crypto-currencies does not go with each other and there is no way they can work together. Crypto currencies are meant to be decentralized. If banks get involved in this case, then the technology will no longer be decentralized since there will be control of the bank making the coins become some what centralized system. Better banks stay away and do not involve themselves with crypto currencies.

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fumblingperch
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November 02, 2018, 10:21:01 PM
 #556

I would rather believe that banks will trade cryptocurrencies than that banks will disappear because of them, as the banking system is one of the most durable and stable in the world.

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November 02, 2018, 10:23:30 PM
 #557

I believe that banks will always exist. as well as money with which banks work. cryptocurrencies will not replace the money.
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November 03, 2018, 04:16:51 AM
 #558

This is definitely an impossible event. Be aware that cryptocurrencies are only part of the financial industry. The bank is the financial founder of the entire world. The position of Bitcoin in cryptocurrency is as unshakable as the status of banks in the financial industry.

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November 03, 2018, 04:33:33 AM
 #559

I think the bank will still be there, because banks and crypto each have a different role and people - people also still believe in banks to save their money, banks or cryptocurrency will last for a long time
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November 03, 2018, 04:36:36 AM
 #560

This is impossible, because there are not many people and countries that believe in cryptocurrencies, and cryptocurrencies exist in the Internet, and they are full of hackers! Banks are not willing to take on such a big risk!

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