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Author Topic: Soon we would not need banks  (Read 3651 times)
reverseflash
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September 27, 2018, 11:19:21 AM
 #501

Ohhh maybe there are some crypyo coins that can replace the function of traditional banks?
Modern banks have too many functions to replace them with cryptocurrency. And even if the crypto will be able to perform most of these functions, the banks will rather change their approach, possibly reorganize, but will still function. As an example - loans, who will give them to people? After all, this function will always be in demand in one form or another.
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D3m1r4wanti
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September 27, 2018, 11:40:40 AM
 #502

Why? if humans are still using the FIAT currency, they will always need a bank, unless crypto currencies can be used throughout the community. maybe we no longer need a bank
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September 27, 2018, 12:53:47 PM
 #503

maybe that's the wrong opinion because not everyone who understands crypto. so in my opinion, the bank will still be possible for a long time.

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September 27, 2018, 01:12:56 PM
 #504

Being able to do everything from my house is my dream.
someday what you say and want will become a reality but for now in my country it still takes a long time and process because until now the government still has not legalized cryptocurrency as the prevailing currency
Maybe yes it will happen, crypto is continuing its progress and we can't say what will happen tomorrow and how people will be interested in the
next few years, as we seen that crypto already gathered some interest coming from businesses and if government fully adopt the system there's
no need for banks to exist as we can use our own devices to hold our assets.
I still think your story is just fairy because the spread and influence of crypto to everyone around the world is still limited, it can not affect wider and deeper, the government has created a solid barrier and it runs along everywhere in the world, crypto can not do anything to destroy this barrier. And the sure thing is the location and importance of the bank still the number one in mind of all, the provision of benefits and compensation is still outstanding, crypto has no vacant land to express herself and if it does, most people still do not care, it is not their habit

AniviaBtc
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September 27, 2018, 01:26:22 PM
 #505

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 may be a hard time making banks obsolete. We are all aware how government supports banks more than bitcoins which make it their strong hold in the economy. I believe that fiat and bitcoin can run together in this world.
Banks will going to be obsolete thats for sure. Maybe not now because of our still poor technology of becoming bankless but we are heading to it, the edge of technology right now is constantly improving through time. Banks will be destroyed due to digitalization, we need a well financing system as much as possible secured. Just remember Bill Gate's sentence back then, people need a system for banking not physical bank.

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September 27, 2018, 01:42:36 PM
 #506

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.
Possibly, crypto currency will rule every country's financial activities. That is the prediction of so many crypto loyalists and lovers. And I think that also. The world is constantly changing, especially in technology.

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BitcoinPanther
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September 27, 2018, 02:04:43 PM
 #507

Why? if humans are still using the FIAT currency, they will always need a bank, unless crypto currencies can be used throughout the community. maybe we no longer need a bank

That is good point there. As long as fiat currency is in circulation and remains the choice of the general public and proves to be the most convenient to carry around, then banks is set to remain with us. Though i'm not denying the possibility that banks may finally see the light at the end of the tunnel in the future, i don't think its nowhere near the next decades to come.

And perhaps it is noteworthy to point out that unless bitcoin receives government backing, banks will remain to prevail among cash-currency systems of any government.
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September 27, 2018, 02:11:16 PM
 #508

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.
Possibly, crypto currency will rule every country's financial activities. That is the prediction of so many crypto loyalists and lovers. And I think that also. The world is constantly changing, especially in technology.

Yes, everything can happen in the near future are technology keeps improving, But I cannot totally say that we would not need banks in the near future or in the next more decades.

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September 27, 2018, 02:57:26 PM
 #509

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 think money can be separated with bitcoin, because not all levels of society have good Internet access, but apart from that, the bitcoin CEO wants good news about blockchain technology being spread throughout the society

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Loopper
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September 27, 2018, 03:08:10 PM
 #510

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 think money can be separated with bitcoin, because not all levels of society have good Internet access, but apart from that, the bitcoin CEO wants good news about blockchain technology being spread throughout the society

The same thing I think because not every country has good internet access and uses Bitcoin well because Bitcoin and paper money have different benefits until now.
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September 27, 2018, 03:14:22 PM
 #511

it will need decades to kill the banks and use only crypto, but I still doubt as I think banks will change their policies and go deep into crypto.
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September 27, 2018, 09:19:03 PM
 #512

sounds pretty interesting about what you assume that the world does not need a Bank. but in my opinion to achieve a goal as you mentioned it is not easy, because not everyone can understand the blockhain technology system, because crypto is a financial facility that only uses internet facilities and is different from fiat currencies in general.
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September 27, 2018, 09:32:08 PM
 #513

its not bluffing. Bitcoin Cash is a peer-to-peer electronic cash system. It's a permissionless, decentralized cryptocurrency that requires no trusted third parties and no central bank. so the ceo's statement is to indicate a future where ppl can go for cryptos than banks.
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September 27, 2018, 09:34:04 PM
 #514

Still needs bank because if you cashout your cryptocurrency most of them are using bank and that is the uses of banks. Can you please give all information so we can know if it's true or not.
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September 27, 2018, 09:49:55 PM
 #515

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.
The CEO of bitcoin cash can't just bluff. I honestly believe that with his experience, he knows exactly what he is saying. It is evident that he has already seen the bigger picture.

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September 27, 2018, 11:30:46 PM
 #516

I believe that this will happen in the future but it will take a long time for btc to be accepted by everyone.
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September 28, 2018, 12:14:46 AM
 #517

Still needs bank because if you cashout your cryptocurrency most of them are using bank and that is the uses of banks. Can you please give all information so we can know if it's true or not.

I am agree. I think we still need banks because most government in the world still using paper money that controlled by central bank. Beside that, need years for people getting knowledge about bitcoin and accepting it.

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September 28, 2018, 12:39:52 AM
 #518

The extinction of Banks will definitely come as technology advances yet it is nowhere soon. Banks have gained the approval of rulers and governments of a country and as such will continue to be the store of the Fiat. Both Banks and crypto will coexist until the people become more familiar and embrace the concept of crypto.
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September 28, 2018, 01:10:11 AM
 #519

Yes. This is completely true. Banks really after years 10-20 will simply be unnecessary. And there is nothing wrong with this in the global sense. Only people working in the banking sector will suffer
For me this is not true, I think it will not going to happen, banks will still be needed by a lot of business and it would be a big adjustment for them if all banks will disappear. I don't think it will going to happen and who is CEO he is talking about.
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September 28, 2018, 01:46:39 AM
 #520

Because bitcoin are more convenient and effective than bank transaction, i think soon we will not need banks
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