Soon we would not need banks

[muncuss]

This is my opinion too since I first met my bitcoin. As a person working in the banking sector today, I do not think the banks will survive in the near future. Cryptocurrencies can change the financial system completely.

lol survive from what?
We will not going anywhere in near future. What will happen is banks will likely adopt blockchain and go full digital

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[xWolfx]

The Ceo of Bitcoin cash recently stated that soon people wouldn't be needing banks anymore.Does it mean the world is going crypto soon or he is just bluffing.

If that is truth of course he is bluffing.

Bitcoin won't fully replace fiat currency the same way television didn't replace theaters.

The amount of people in this planet is really big and for that reason the amount of preferences is equally big and in the future it will only get bigger. Thinking that only because it will be a lot bigger than right now it will replace everything is just having a really small picture of the future reality.

[Daday23]

The Ceo of Bitcoin cash recently stated that soon people wouldn't be needing banks anymore.Does it mean the world is going crypto soon or he is just bluffing.

There is a big possibility that sooner or later bank is become useless anymore if bitcoin continue to increase in demand and all people used it.

[Blackrain13]

   People are very advanced thinking than bitcoin growth. Even many years will pass away people still need a banks because the fact that banks are safer than digital banks. Yes you can save money free from the government but it is not 100% secured because a lot of hackers and scammers around. One thing more not all countries already accept and recognize cryptocurrency.

[FilipZ]

See, the world is not ready to make a quick change to full crypto currency use but in the future, 5-10 years we could start using crypto currency more and more until we only use crypto currency. In my opinion that would be great because crypto is so easy and profiting to use but at the same time it all depends on luck sometimes.

[Cryptotissue]

The Ceo of Bitcoin cash recently stated that soon people wouldn't be needing banks anymore.Does it mean the world is going crypto soon or he is just bluffing.

Please provide us with the source of this information. for all we know the CEO of bitcoin cash has not stated anything about what you have posted here. A lot of people here of this forum are here to gain some knowledge about cryptocurrencies. It will be best if you add the source of this information... .... Looking at how the crypto world is growing and taking over gradually, I believe will not be needed within some years to come...

[ngano ba]

I do not think that the bank will be obsolette because not everybody are going on risky move in joining cryptocurrency, but others are fearful to go into cryptos and still invest in banking deposits, so bank is always there and keep on operating, so bank actually will still be needed even the popularity of bitcoin.

[mohammedmattar]

This is very funny "who is the CEO of bitcoin cash?" Never heard of such a thing as BCH CEO, BCH ought to be a fork of BTC. Well, whoever he's that said banks will go into oblivion had better think wise.

Banks are the backbone of the global financial system
And make fantastic profits from the survival of the current system
Even with the global financial crisis of 2008 and the sovereign debt crisis in Europe 2010
Banks are keen to keep the game cards in their hands and will not accept change simply
With all this, banks are now studying this new technology through their cadres and experts
And will provide solutions to cope with the event if the cryptocurrency prevailed.

[DJANAS]

But we still needed the trust from the people who still don't believe in Crypto currency

[btcluisdiki]

It's too soon to make such conclusion as cryptocurrency still has a long way to work for it and mass adaptation has not yet fully adapted globally. For now,  we still need  banks that cryptocurrency cannot fully work for it.

[West0813]

I don't think so. Banks are operating in our society for a long time. And many people are still entrusting their money in the banks. So i think banks will still remain.

[Yramesor0]

I think it won't be happening. Bank has a different purpose in society. It lends money to some investors to start their own businesses. It serves as storage to some who are saving their money for the future of the family. So I don't conclude that we won't be needing banks anymore in the future.

[Xalata]

That is very true because of the use of digital currencies which we people will use it as form of medium to make payment in their daily transactions.

[HyperLup]

I don't think banks will be deleted from the system. Obviously, cryptocurrencies will be banks when they are widely used in the world. Probably some of the banks will evolve, banks will use blockchain technology, continue to work with cryptocurrencies.

[esetop01tryba]

I think that banks will still remain in our lives and cryptocurrency will help them to develop at a higher level.

[amobi]

I don't think it will be possible for crypto to displace banks entirely, crypto can not do with bank, crypto can be running along side bank but what i want is for the adoption of crypto to increase.

[Shiro21]

The Ceo of Bitcoin cash recently stated that soon people wouldn't be needing banks anymore.Does it mean the world is going crypto soon or he is just bluffing.

I think people will still need a bank because the security risk is less than the e wallet, many e-wallet burglary cases have happened lately and e-mail is one of the media that is vulnerable to attack because it has access and linkages with your e wallet.
Moreover, the national financial system also requires banks as a central economic system in each country, if there is no bank, the circulation of money will not be controlled.

[tuturutmunding]

I think it is an expression of hope, or he has got more profits so he can free himself from the bank, although I am not optimistic that it will happen in the near future because this is a big change, it certainly needs a long process and time, much more instability in the economy in the beginning because of that change, but I think people are now smart enough and quick to accept chang

[Meysa_richa]

I think that is very unlikely if we don't need a bank and I think it's just bluffing, the bank will still be needed throughout the world.

[hadveach]

I agree with his statement because this is a reality, everyone will be bored with fiat, not profitable, saving assets in the bank will only make it lose because of a lot of administration.

but, when we store assets in bitcoin, of course, the value will have the potential to make a profit.

Some banks, in Argentina, Japan, USA, Russia, and Venezuela accept bitcoin transactions.