Soon we would not need banks

[insurgent]

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.

This is possible to happen, but banks are around the world. We have different opinion regarding this one. I know that some of us will say that they agree with this. Maybe its possible but it will take a long time.

[JMD07]

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 the word soon will be in 10 years or 20 years from now as not all countries are supporting this technology and don't take it seriously as those CEO will just speculate to attract more investors and make their project good in eyes of those who hear or read their message. This is all about business.

[SilverCup08]

It is possible to happen but not so soon. IMO it will probably take a few decades more where the whole world will be accepting cryptocurrencies and eventually may be the only currency existing. If that happens, then banks won't be needed anymore.

[Crypto one]

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 banks as middle man will still be here in 10 or 20 years, they ain't going anywhere. People who claims something else are lying.
When you look at the crypto prices, you see see the prizes in dollars, dollar you can send to your bank account.
I don't like banks, but the world still needs banks to be middle man when you trade or store your wealth.
Crypto are to volatile to take over the bank world in the near future.
However crypto cut be a new product in the banks, bitcoins with its limited supply cut easy be something we cut store in banks in the future

[Ahsan Aly]

This could be a rumour. That is very hard proceedings and i am sure that this can't happen.

[cutecute]

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 many people will not let that happen even cryptocurrency is important. Actually even many people wanted bitcoin to be legal they do not want our bank disappear.

[noorammak]

Bank can not disappear, we still need banks to transfer money to invest or withdraw. I think we are the technology developer in reducing transaction time or money transfer but still rely on banks.

[Dudeperfect]

I believe that crypto will definitely grow over the period of time but I don't think that it will anytime when is the traditional fiat system like banks. We don't have a high level of literacy across the world, especially when it comes to the technology and hence everyone won't be able to use crypto and the traditional option is the only way for the rest of the people to use.

[Satish147]

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.

Yes ofcourse that is the aim of cryptocurrencies. We can eliminate the need of centralized authorities like banking system and Government involvement in money supply. These centralised entities are should be there only for controlling and not for creating artificial and unnecessary inflation due to their immatured decision making.

[jakoylantern]

For me, it will not happen especially if Bitcoin and other cryptocurrencies are not accepted or allowed in numerous place or country because the number of population of cryptocurrencies users is still meager if you compared it to those people that are using banks. Also, the bank methods are different than cryptocurrency, we all know that cryptocurrencies are decentralized. But maybe in the future if cryptocurrency became legal and accepted by many states, I think it will give cryptocurrency a little chance.

[gooddly]

For me, it will not happen especially if Bitcoin and other cryptocurrencies are not accepted or allowed in numerous place or country because the number of population of cryptocurrencies users is still meager if you compared it to those people that are using banks. Also, the bank methods are different than cryptocurrency, we all know that cryptocurrencies are decentralized. But maybe in the future if cryptocurrency became legal and accepted by many states, I think it will give cryptocurrency a little chance.

I think when the crypto-currency will become legal and accepted by many states, and then the banks will not disappear. They have too many functions, and over time, with the development of the crypto currency, banks will invent even more functions for themselves.

[vagsun]

This is not at all possible especially in my country i.e India. Banks are very essential to run the economy. All the online transactions such as NEFT, RTGs etc are performed by banks, Moreover banks accept our surplus cash and lend us loans too. Half of the population would not accept crypto just because its highly volatile, and many illiterate people who don't know how to use mobiles or PCs will definitely not accept crypto. So the shuting down of banks is not possible.

[Teawhalee]

i will not go with this and maybe this isnt happening anytime soon. nothing can replace the fiat or old money system. crypto will thrive , i am so confident of that but not like replacing the fiat system.

[people12345]

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 is not impossible to happen since bitcoin are proven by many individual but i think it would be just an optional. It also give us a good benefits, it could help us to save our money since we have an digital wallet, less time and less hassle if you are in  a transaction  of bank unlike bitcoin or should i say digital wallet could make our transaction easier and faster. But like what i have said that i think that it would be an optional.

[cryptofeel]

I don't think so. On the contrary, there is going to be a stabilisation and firming of the fiat currency business and transactions, in order to keep their customers and clients coming. No one is just going  to fold their arms and see their family and age long business, source of livelihood go down the drain without giving a formidable fight, so this is going to make the wiping of banks a long time future occurrence.

[Gila uang]

Banks are such an organization that will offer mountains, and in the end you can stay with nothing.  They can find employment in any case.

I think what he is saying is that if bitcoin continues large-scale adoption around the world then P2P as well as expected to increase with the acceptance of bitcoin then conventional bank needs will decrease and more people will prefer to deal with crypto because it will be faster and secure. There will be no time for conventional banks to not exist.

[jpnl0002]

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.

.what the CEO of bitcoin cash said is the real truth, because there is no need in doing a traditional banking when the technology called blockchain has simplified everything as it relates to the financial transaction and immutable record keeping of the transactions.

[LyQaN]

Don't think its gonna happen soon, concept of bank has great impact on us .it helps to save a lot of money ,you can get interest ,loans , saving valuables,there is more sophistication and also there is third party that manages it for so many people reducing stress, maybe in little far future when more trusted and advanced techniques will come and but not soon surely

[anti76]

As soon as the blockchain technology will be massively used it is likely that banks simply will not be needed.

[Webberson]

The fight of cryptocurrencies remaining in existence is still on-going and some governments are still fighting to bring it down. I believe banks will still be in existence because it is a financial institute that deals with currency transactions, which i believe would inculcate cryptocurrency into their system for crypto transactions.