Soon we would not need banks

[Fappanu]

It's a long process before it happens so we need a lot of time to fulfill it. Certainly more will happen before it can be accomplished. Now let's take advantage of the cheap bitcoin price. Surely in the coming years we will see the bitcoin price increase again.

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[FlightyPouch]

Despite what many people may think or hope, we are a looooooong way from the end of banks!

Crypto is still very much in its infancy. Yes there is lots of activity right now in the crypto scene, but theres a lot of crap needs to be flushed down the toilet first! Banks still play a very important role and i think will continue to do do for a long time yet- certainly in the western world where i am.

Also crypto has to appeal to the majority of people before any such statement could be made. At present- we are a long way off!

It might be the end of banks in some countries who have corrupt governments and/or currency that is hyperinflated, but thats not happening where i am and i don't envisage it anytime soon either.

I somehow disagree with the statement above. Many people are still not into the use of cryptocurrency. Some do not have the access such as the internet or smartphones/computers to be able to use it. I don’t think it could fully replace banking industry.

It is true. Banks will never be replaced in the future, it will continue to exist since Banks are not just for the payment methods, it also holds a great responsibility on one's country's economy. Banks let people business owners, business owners to be and loaners borrow money from them and with that, the economy lies through it. The more banks help people, the higher the economy goes. If we will be removing the banks, who will do these things? Another company will be built for it?

[bangkecol]

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.

That is a very unlikely thing, bitcoin can rival banks, this is because there is a lot of legalities that must be recognized by each country, the Bank is one of the economic supports of each country.maybe it takes a very long time that can happen.

[Bessta]

Maybe what is likely to happen is integration of cryptocurrencies in the banking system. As a foundation where economy of a country is anchored, banks would continue to exist even as it is being threatened by cryptocurrencies.

[Fenixsfeather]

Cool to hear that! But it's hard to imagine. Switching fineness system isn't fast process. So...

[rhenrhen]

I don't think so. Banks will still be needed even if cryptocurrency will dominate the world. We'll still need banks to do what bitcoin can't.

[Eminem23]

Banks will probably always remain in the spotlight, because without them we will be able to work only in the distant future, and now everything is on this, and nothing needs to be changed.

[KorakPawon]

Anything can happen sooner or later, perhaps it wouldn't only his statement, it could be true. or, it is probably a bluffing. No one can guarantee about banks existence in the future. it can be disappear or comeback somehow. Just watch and see, how the world change the reality of people's need.

[Agozyen]

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.

 Crypto allows people to send payments anywhere on the planet as long as there is an active Internet connection.  Currently, banks do this but charge hefty fees and your money is tracked and some of the time it's not immediately available to you.

 I think banks will have to adapt the way they do business in order to stay relevant.  One thing that they do that Crypto does not do currently is financing of cars and homes, which generates alot of revenue for banks.

 Until Crypto solves this problem then banks will be around in some form or another.

[trauchot]

Why not, it's possible, but it will take tens of years at least for everyone to adapt to the cryptocurrency, because now, as we know only few people still know about cryptocurrency, and many do not even know what the word cryptocurrency means. Gradually cryptocurrency will be introduced into everything, which will give impetus to becoming a world currency if the governments of all countries will want it.

[Tigorss]

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.

It's statement anyway.. whether it is true or a bluff we just have to optimistic and follow the world's changing. Because as we know, bank is in spotlight which the existence is always important for some people. If it's disappear someday, we have to be ready in spreading our wing on cryptocurrency's way.

[ghost07]

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.

banks will go away and we will replace bitcoin or other cryptocurrency as our new wallet or bank for our moneys.
in cryptocurrency in the future we will have a multipurpose atm card that can be use to pay bills, goods, withdraw and etc.

[Miklight88]

I don't think bank will ever not exist any more because fiat will forever be and crypto is only a digital currency that can be use to make payment online with no third party requirements.

[cfif123]

Despite what many people may think or hope, we are a looooooong way from the end of banks!

Crypto is still very much in its infancy. Yes there is lots of activity right now in the crypto scene, but theres a lot of crap needs to be flushed down the toilet first! Banks still play a very important role and i think will continue to do do for a long time yet- certainly in the western world where i am.

Also crypto has to appeal to the majority of people before any such statement could be made. At present- we are a long way off!

It might be the end of banks in some countries who have corrupt governments and/or currency that is hyperinflated, but thats not happening where i am and i don't envisage it anytime soon either.

I somehow disagree with the statement above. Many people are still not into the use of cryptocurrency. Some do not have the access such as the internet or smartphones/computers to be able to use it. I don’t think it could fully replace banking industry.

right, and if I think the bank still exists even though many countries have received a blockchain system that is transparent but the bank will not be replaced by the system at any time.

[Ale88]

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 don't know wether he actually said that or not, but anyway that's the direction we're going to. Just take a look at the recent born Gemini Dollari, many people all over the world can have access to the $ without asking permissions or waiting for the bank, they just take them. That's something revolutionary especially for countries where it's hard to have access to the $, such as Venezuela or Argentina at the moment.

[Asantewaa2000]

And I ask myself could that be possible?.... No so far as there are fiat currencies for use there will be the existence of banks. The only thing that is  possible is for banks incorporating digital currencies into the services they render to it members.

[Kuchiyose]

It's a long process before it happens so we need a lot of time to fulfill it. Certainly more will happen before it can be accomplished. Now let's take advantage of the cheap bitcoin price. Surely in the coming years we will see the bitcoin price increase again.

I agree, this is something long for everyone to go through because there are many things that arise for something that will happen. I really agree with you.

[Magkirap]

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.

We dont know because even if bitcoin can give a huge profit to people who invest on it , sometimes people always choose banks because they think that its much safer than banks rather than bitcoin. Its possible but it will take a very long time but i hope too.

[Geemy]

Yes, if there is an increase in the price, we become more confident and therefore do not need banks

[indrakusumaindra]

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.

Just because some one stated that we dont need bank doenst mean it were right. I believe bank still become crucial in economy, people need to borrow money from bank to make business can keep developing and able to compete and also make a fast liquidity. I still think bank is really good and still needed.