Soon we would not need banks

[Cryptopher]

I can't see banks going anywhere within the next 20 years or so, I think that they will have their place.

Society is heavily reliant on banks and, while governments and bad practices from banks and individuals alike cause problems, they provide a good service beyond that which any crypto can offer.

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[111RONY]

That perception reflects reality. The number of Bitcoin transactions (as opposed to trades) has not risen much in the last few years, and one recent academic study suggested that half of those transactions are associated with illicit activity. As a medium of exchange, Bitcoin remains today pretty much what it was in 2010: an interesting complement to the existing monetary system, primarily useful for people interested in avoiding legal authorities or living in societies racked by inflation (like, say, in Venezuela or Zimbabwe).

[edsnowangel]

I can't see banks going anywhere within the next 20 years or so, I think that they will have their place.

Society is heavily reliant on banks and, while governments and bad practices from banks and individuals alike cause problems, they provide a good service beyond that which any crypto can offer.

definitely agree to you sir/ma'am banks will never be gone or be remove in the society on our financial system banks has been part of our system for so long

[jademaxsuy]

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 will not agree with you because banks are really needed for the cryptocurrency system. Do you think you could need to transfer all your money and hand it over to exchange crypto? Well the bank could do it for you! Could you cash out and get your money directly from the local exchanges? No, but the bank could do it for you. It is so hard to deny the fact that bank has established already a good system where people feel like we need them. Besides it is not good also to store all your money in a digital wallet for digital wallet is not a bank.

[virtfund]

Banking sysyem is an important part of our economics. There is no way to ignore this. Off course, criptocurrencies change rules by time but it is still in progress.

[Davidbugs2]

Too early to say that, I must say its a big statement, Banks wont disappear, crypto currency is still not on a position to defeat banks.

[Compiler]

Nose, I do not have it very clear, one of the main reasons for all this was so that there were no banks, but every time more intentions of the banks are seen interesting by the blockchain. The roles are changing.

[Nboramir]

I don't agree with this because banks don't only keep the money for people but also provide credit. Therefore, banks will last forever whether become number one currency or not.

[gabmen]

Too early to say that, I must say its a big statement, Banks wont disappear, crypto currency is still not on a position to defeat banks.

Lol. How soon is soon? I'm not seeing that happening in the next decade. Banks have a really firm grip in today's society and it would be hard for anything to supplant them. Governments, corporations, big and small businesses, all these are held by banks.

[Roni116]

I think that will not happen, the bank will not disappear and will still be there because the bank is very helpful to the community through loans or also to save. Banks get support from the government and with that the bank will survive.

[Raidal]

In my opinion, until whenever we will still need a bank. I am sure that this world cannot switch 100% to crypto currency. Until whenever fiat currency cannot be replaced with crypto currency. Crypto currencies and fiat currencies are complementary. This bank will continue to be useful for storing fiat currencies and other valuable assets. Instead, I will give an appreciation if banks and crypto currencies build a partnership, for example banks implement blockchain systems or banks receive crypto currency storage. I'm sure if this happens then this world will feel easier and more comfortable. We will be more facilitated if we want to trade far or near, and with fiat or crypto currencies. All will make our work easier and faster.

[adpinbr]

Banks would be necessary, I think that if there is no banks in the entire world, there would be a lot of downfall, banks are here because it has a purpose, we literally need banks to make investments, store our money, make transactions, loans, and lots of stuff, and therefore I don't think that banks would disappear.

[P60]

I think that will not happen, the bank will not disappear and will still be there because the bank is very helpful to the community through loans or also to save. Banks get support from the government and with that the bank will survive.

Same with my opinion, I think bank will stay with us forever and it will never be out of place. Banks are trusted worldwide, and it took the big role in the economy of each country.

[TechnoX_X]

Can I know who the CEO of Bitcoin is? As far as I know Bitcoin doesn't have a CEO. I'm here to answer your question even though the question is a little strange. Bitcoin can replace the existing bank. Why ? Because the purpose of bitcoin is to cut or become an alternative payment tool after fiat money. And if that happens, then people in the future don't need a third party anymore (BANK).

[sormin]

That might happen in the future. We don't know what the future will be like, and now technology has become more sophisticated, more practical. And I am sure that someday we will not need a third party. But it all depends on the regulation of the local government what the policy is like.

[KofiAdepa]

The activities of banks and the kind of services they render will only be needed so far as there is the existence of our traditional currencies. What might happen is these banks changing their ways and incorporating crypto in their services. I know it will not happen overnight but I know we will get there soon looking at how now they are using of some Crypto technologies to enhance their services.

[Jian_Liux]

It's not bluffing, but maybe a hope or desire that will be achieved by them by saying that, but that thought is far from reality. Banks will still be there and needed by many people around the world, because it is a place to save money or transactions that are quite safe and protected by legal rules guaranteed by the government and recognized by the world.

[pallang]

Banks will stay even when people will be using bitcoin as payments because people are needs banks, some are doing their transactions through banks because they offer different kinds of loans such as housing,car, and others and i believe that banks will stay because people had already accustomed using it.

[vallarit11]

This is possible but it takes many years as the technology will improve and enhance
The examples are stated below
And just what like mobile phones do to the postal office
The printer does to handwriting letters
Every year passed by there are new things that we explore and invented by our inventors which help us to live easier, but this makes us to be lazy

And I think it's possible also to erase the banks and replace it by online transactions although atm cards are present now, online transactions are better and a lot easier and hassle-free

[sidodadii]

i think they are always need bank. there are many people dont know about bitcoin. if bank disappear, how about them?
bitcoin and bank will walk in their path as themselves. but it will be difference if all people in this world know about crypto and know how to use bitcoin. need explanation in village that unreachable by us as bitcoiner.