Soon we would not need banks

[Patient_Zero]

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.

to the extent that the bank will still be there, because in crypto the features offered only include saving exchanges and payments indeed all offer convenience, but in crypto there is no credit feature, so that the future functions of the bank remain irreplaceable because the nature of bank establishment is to serving the public about savings and loans, long-term credit, for example, for housing mortgages like that, which bitcoin is unlikely to do, maybe like that ...

[Hkim21]

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 it has started to happen lately, people rarely go to the bank and only make daily transactions at ATMs, even paying bills can be done in shopping centers now.
I think that statement will soon be realized with technology that is growing and the existence of crypto technology as an alternative replacement currency for fiat money.

[akihiro101117]

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.

if the banks didnt improve their service and catch on blockchain technology maybe yes but in the real picture, banks are goind blockchain and creating competitive measures to bitcoin and other cryptocurrencies

[BlackRacerX]

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 we would still need banks for the sake of storage of bitcoins as well as the safekeeping of them. I don't think bitcoins would eliminate totally the usage of banks and fiat money. I just think that bitcoins will play a huge role too in the industry or cryptocurrency as well as the monetary systems.

[ClassyDancer]

Once we have a legit digital currency, either the roles and functions of banks will be greatly reduced, or they will become obsolete. This is one of the main features of a digital currency and that is, eliminating the need for a third party or middleman when handling transactions. This also means no more waiting for banking hours or lining up in queues to withdraw or deposit money. We’ll have our own digital way of handling transactions. We become our own banks. Life-changing, don't you think?

[dohh]

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.

Yep, BTC will suck You empty and You will have nothing left to hold on bank account.

[Hiroyuki879]

Agreed.The majority of people in emerging economies, and a significant minority in developed ones, are unbanked or under-banked.

[jeepuerit]

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 yes, because trading we can do a bank, we just need to download the google authenticator app so hackers can not easily get our accounts, a trading like a bank is also because we're going to spend money and deposit a trade.

[OrangeII]

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 yes, because trading we can do a bank, we just need to download the google authenticator app so hackers can not easily get our accounts, a trading like a bank is also because we're going to spend money and deposit a trade.

Well, I think we will still need it. however, the bank will still be used for fiat storage. besides, there are so many advantages of banks that are not owned by bitcoin, or other crypto. Well, I think in the end all the assets you have will be stored in the bank.

[Ava Duvall]

Of course, I would like that to happen. But I do not think that bitcoin can really be a full replacement for banks. And banks have many other functions that are not yet under the power of bitcoin.

Your right, banks play an important role, so I also don't think bitcoin should replace them. Yes bitcoin can be integrated and more widely used but not to replace

[MMysterious]

We use banks in order for us to keep safe our funds and assets and also to transfer money from country to another country. Using banks cost us a lot and they are using our money while keeping it safe it. They benefits a lot more than we do when we put our money in the banks. If all people will you crypto as a currency or as a monetary system I think we dont need banks. All of the functions of banks crypto will do it better. Less transactions fee, Fast transactions even you are thousand miles away to the receiver of the funds. Our funds is safe because we have out own digital wallet and we can monitor it. Maybe the things I told now is just little information that crypto can do better than banks.

[jiya jaena]

of course that will be real if all people know about bitcoin features, everyone will not need any banks for transaction or for saving and investment, all can be done through crypto

[Benatiabayer]

 With the rapid development of the electronic money market and fintech, gradual electronic money is said to be "the currency of the people" and is becoming more and more popular around the world. However, monopoly money has become a serious problem for both large organizations and CEOs. Assuming that Bitcoin is used as a common currency in the world, is the role of banks now dominated by the trade coin? Or is it saying that bitcoin will increase forever? And if so, if Bitcoin uses the whole world, then convert to dollars do? And so Bitcoin holders do not need interest rates on deposits, just holding & breathing the air to live? As you bank collapsed, who pays money to you? - If everyone thinks we are human, not Chinese, Japanese or Korean, what you say will come true, no country will be dominated by uncontrolled be whole. For example, Russia is embargoed, inflation is high, the central bank is trying to balance the money, now there is a source of money. Bitcoin-Central Bank uncontrollable, US & NATO bear the Part of the money was spent on Russian loans, which made the measures tighten uncontrollably, prices continued to escalate, economic exhaustion -> collapse regime. As far as I know, Bitcoin is anonymous, no one knows how many people hold, so how in it know how to buy, sell & grasp how much? Bitcoin or other electronic currencies only increase to a certain threshold but can not increase forever it is nonetheless a new payment channel cannot replace the paper money unless each country releases a type own electronic money.

[bitcoinveda]

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.

Yes, you are right banks will never even though we are using Bitcoins for payments and banks are providing different kind of loans if they proved themselves as legit. Through banks, they are happily transferring money to their own family without any problem.

[reda]

Nowadays bank is mingle with all process and project. But bank is not good for the people future save. BANK is not share the bank process and rulas and regulations. So it affects the process investment. So people wait for the crypto currency. If reach the all country people. It help to people growth. Bank is not good for the people growth. Now bank is not easy to avoid. So people wait for the bitcoin bank.

[GreatArkansas]

Yes, I believe to the power of Blockchain, specially Bitcoin. Which we can send or receive payments without going to banks anywhere, we have our own banks in our pocket, with just our smart phones and internet connection.

[Barretwallace]

So there will be new forms of independence than banks. That isn't certain in the future, there is no basis for censorship. So why do not you need a bank while Bitcoin will be independent?

[Jakson123777]

Society has to change a lot.Now people live by typing loans.Banks can't go anywhere.The banking system itself can be exchanged, but bankers will not allow banks to disappear.

[Boris_sahnevich]

Bitcoin as a product of blockchain systems is a revolutionary phenomenon, attracting the attention of specialists and ordinary people. Virtual "coins" need careful study. Undoubtedly, they will gradually be introduced into the social and economic life, despite numerous obstacles. However, for human security, there is a need to establish a regulatory mechanism.

[AliMan]

Bitcoin as a product of blockchain systems is a revolutionary phenomenon, attracting the attention of specialists and ordinary people. Virtual "coins" need careful study. Undoubtedly, they will gradually be introduced into the social and economic life, despite numerous obstacles. However, for human security, there is a need to establish a regulatory mechanism.

I think we still need a bank because not alll the time crypto is safe or secure, and the problem of cryptocurrency is they can be hacked that's why we need bank to keep our money. Also once you put your money in a bank it will never lose, so for me we still need a bank to save our money without hesitation and doubt to lose because they can replace your money immediately when you need it.