Soon we would not need banks

[chikading2016]

There is a possibility that time will come we don't need banks anymore if and only if bitcoin and the rest of cryptocurrencies is easy to use for most of people. Another is that there are still countries who are banning cryptos much even more that they know it will be a threat to the banks that they (government) owned.

Yes i also believe on that. I beleive that we can considered crypto as a bank in the future. If the bitcoin will soon rise and it will modified and modernize in the future. I believe that we don't really need bank in the near future. And I believe that many people will use crypto than banks specially the crypto now is slowly rising.

[edisystem]

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.

People can say that but in reality, people still needs banks to stored their money and banks reserve a safety though. I think banks still needed by all people around the world and bank gives you interests but on blockchain or cryptos, it's not give you interests per months. So yeah, it's a plus and minus.

[virendarnagpal]

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.

Source? Who is the "CEO" of bitcoin cash? Roger Ver maybe? If yes lock the topic and pass, no need for further discussion 

In absence of any source link ; we can not come  to conclusion.  Also I think it is very difficult to end the present banking system. 
If above statement of the op is to become true; we must have to suppose that fiat currency is no more in existence.  But I do not see that fiat will be ending in near future.  Because even if the crypto usage increases to 100% of people of the world still they will have to keep some fiat for emergency circumstances.  So I do not see that banks are going to finish in near future say about 20-25 years.

[bitterdog]

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 its not as simple as that. Although we can not deny that bitcoin is really change our paradigm on financial system, but to holistically remove banks from our financial system is something that can not be done in just one day, it will take a lot of time, courage, and many more.

[pstraene]

I always think of the following situation when you want to buy something very expensive online with BTC instead of Fiat: If you only pay a transaction fee of $2 for a work of art worth  $ 50.000, the fee is practically zero. But if you pay two or three percent Fee for a work of art this value, then the prices can rise a lot >> $ 1000 or $1500  . ( Fiat ) and that's exactly why crypto and BTC will live on and succeed in the future.

[Dimas99]

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.

in my country bitcoin is banned because it does not use the bank in its transactions, all hope that bitcoin will be able to cooperate with the government and the country which results in good cooperation to get better results

[kotajikikox]

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 disagree on that speculation i'm loyal cryptocurrency ethusiasm but bank of fiat are very stable in term of the regulations and bank are controlled by the world government

Cryptocurrency have need to learn how to become centralized and stable their price as volatile currency in this way there have possible to cryptocurrencies to tie up in the fiat bank to become helpful for the economy groew of each nation.

[gorokill]

I don't think the bank will be removed from the system. because they are currently studying blockchain and cryptocurrency. when cryptocurrency has become a world currency and all countries recognize it as a legitimate currency, Maybe some banks will evolve, and banks will use blockchain technology, continue to work with cryptocurrency.

[creeps]

Indeed, in my opinion, bitcoin does not need a bank, the bank will only give a loss to the money, let alone bitcoin enter the bank, so there will be a lot of pros and cons of it ...

Bitcoin technology can only be our banks if there is guaranteed security about this market. Who wants to put there money where there is no regulating body? I don't think banks will die because they provided so many good things though I don't agree with their current system but I think we still need banks for good.

[Leyss]

Regardless who and what thinks about the expediency of the continued existence of banks, banks are primarily needed by the state. The state finances the economy, pays salaries to workers in budgetary sectors, implements any social programs only through the banking system. In fact, state-owned banks have become part of the state system. Therefore, banks will always exist, at least, as long as the state exists.

[marlonbatotoy]

I agree with this.. For now I am using online wallet instead of bank acount because here in my country has a online wallet that connects to atm's and you can withdraw without card.. Well that's amazing right? That's why i love using online wallet. And also i feel safe

[Gagah119]

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.

In my opinion, that can happen but with one condition that bitcoin has been accepted worldwide as a means of payment. if not, we still need a BANK to transact, store and receive salaries from the company.

[Dr.Osh]

Indeed, in my opinion, bitcoin does not need a bank, the bank will only give a loss to the money, let alone bitcoin enter the bank, so there will be a lot of pros and cons of it ...

Bitcoin technology can only be our banks if there is guaranteed security about this market. Who wants to put there money where there is no regulating body? I don't think banks will die because they provided so many good things though I don't agree with their current system but I think we still need banks for good.

yeah, I don't know. I feel that we will all continue to need banks to maintain our fiat currency. Well, you know, so many cryptocurrency users need banks, even everyone needs it to save their money. well, cryptocurrency is important, but sometimes fiat will be the benchmark.

[adjudicator]

There will be no time that conventional banks will not be in existence. What he is saying is that if bitcoin continue its massive  adoption world  wide then P2P  also as expected rises with the bitcoin acceptance then the need for conventional banks will decrease and more people will prefer to deal through crypto since it will be faster and secured.

Eventhough bitcoin users not need banks, there are still lots of people that are need banks because that is the thing that they used in their entire life, although bitcoin is continuously expanding, I dont think that banks will gone.

[Cryptomania843]

I think it's quite the long-term goal of no longer having a bank. Before arriving at this moment it is obviously that everyone cryptos and so we still have very far.It will take a long time before the mentality will change and accept this innovation. In my opinion, we have started and the next generation will enjoy it. It is a revolution, we are still in a state of development and acceptance.
There will come a day when the banks will disappear.

[paul00]

There will be no time that conventional banks will not be in existence. What he is saying is that if bitcoin continue its massive  adoption world  wide then P2P  also as expected rises with the bitcoin acceptance then the need for conventional banks will decrease and more people will prefer to deal through crypto since it will be faster and secured.

Eventhough bitcoin users not need banks, there are still lots of people that are need banks because that is the thing that they used in their entire life, although bitcoin is continuously expanding, I dont think that banks will gone.

I agree banks will not be elliminated but instead they will update or upgrade to cope the situation. Old fashion way of banking might elliminated but not the entire banking's

[BitcoinPanther]

I think it's quite the long-term goal of no longer having a bank. Before arriving at this moment it is obviously that everyone cryptos and so we still have very far.It will take a long time before the mentality will change and accept this innovation. In my opinion, we have started and the next generation will enjoy it. It is a revolution, we are still in a state of development and acceptance.
There will come a day when the banks will disappear.

Again, i do not think that one can deduct the fact that banks (as much as bitcoin) is set to stay as well. As we are currently experiencing, separation and elimination is not the course of bitcoin. Rather, acceptance (as you rightfully mentioned) and merger might prove to be more effective.

Along the process of development of bitcoin and the entire cryptocurrency, we are seeing how either the bank or crypto itself are seeking ways to find a handshake. A protocol of some sort where both could co-exist centralized and decentralized. And some have found effective means to it. But i'm sure something has to give and it is somehow evident that cryptocurrency is making the move to be more widely accepted within the banking sector.

The reality of bitcoin and the rest of cryptocurrency surpassing the needs for a bank is strong, but until we see a solid and firm government backing on cryptos, i think banks will remain with us.

[Jake Virus]

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.

[BitRewardsTeam]

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.

Agreed, crypto should be used by masses, only, in this case, we can think about kind of rivalry between banks and crypto. Now it is mostly gaining some profit on speculations. But what if you could buy smth simple like bread or cup of coffee for crypto. But still, banks and crypto will be working together as the first ones carry out a lot of functions in our society.

[carlisle1]

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.

So wheres the link?What should be the reason why we will not be needing banks in future?Noob thread lol

Banks are adopting blockchain now because they are scared of being leave behind and will forever gone because of the presence of cryptocurrency and most special bitcoin thats why before its too late they are doing necessary action to prevent this from happening