Banking system and BTC

[Questat]

Hello traders. What's your opinion could BTC kill banking system? Bitcoin has an advantage over fiatbecause its amount is limited and it can't fall under inflation.Inflation usually is caused by monetary policies of our central banks. Bitcoin is free from inflation, governement control and  high transaction fees.Banks can’t control BTC because it has no representative and is fully decentralized. That's why banks are afraid of BTC.

The world consists of many countries. Someone supports Bitcoin, someone rejects. Therefore, Bitcoin is not able to break through the centralized world system due to small adoption, however, as a tool, Bitcoin has the features to do this.

We can't expect all the county will adopt, poor countries which has no access on internet connection cannot adopt with crypto.
If we have big countries to adopt, that is already very positive for the crypto market as smaller countries are looking at them and they might follow them.

[migws]

Bitcoin has already provided the fact that it can provide a percentage higher than the bank.

Well this one I will not agree, bitcoin does not guarantee that your money will grow, the value will always depends on the market situation, it could pump or dump anytime while bank provide you interest income consistently based on terms, however its very low.

let us not consider bank as an investment, instead its just an institution that allows us to safeguard out assets under their control.

We need them for this because we can't pull all our money at risk into bitcoin or crypto only.

I would rather invest in real estate and Bitcoin than give the savings to the bank at a meager interest rate. Such an institution scares me because if a crisis occurs in a country, the bank ceases to protect your assets, using them for the good of the state without your consent. Then you got nothing, you lose everything

[TRONTON]

Bank has responsibility for the user's currency assets with a more stable network wheel, a system like this will always be used as an economic reference. banks are not afraid of anything, because their position is always flexible to any changes.

BTC has good deflation, but can experience inflation at the same time, this risk makes it vulnerable to debate because the only benchmark so far is only manipulation and trust.

[ohyeahhaha122]

Yes, as you might think, banks always consider bitcoin in particular and the world of cryptocurrencies in general as things that need to be eliminated for banks to exist, but I am confident that they cannot do that, bitcoin will development is the law of nature, the best will always go up no matter how it is restrained

[Excell110]

I know the odds are not in the favours of the banking system, but the have been in existence long ago.
 I don't think Bitcoin will eliminate the banking system, rather it will help make it better

[Assistant]

There is a lot of crypto lending platform but to launch it on Banking System we have to go a long way. Till Now use of cryptocurrency doesn't take any serious effect on our daily life. when cryptocurrencies have an daily effect on people around the whole world then people will be realized the needed of banking system to control it.

[haufranco]

Hello traders. What's your opinion could BTC kill banking system? Bitcoin has an advantage over fiatbecause its amount is limited and it can't fall under inflation.Inflation usually is caused by monetary policies of our central banks. Bitcoin is free from inflation, governement control and  high transaction fees.Banks can’t control BTC because it has no representative and is fully decentralized. That's why banks are afraid of BTC.

The world consists of many countries. Someone supports Bitcoin, someone rejects. Therefore, Bitcoin is not able to break through the centralized world system due to small adoption, however, as a tool, Bitcoin has the features to do this.

We can't expect all the county will adopt, poor countries which has no access on internet connection cannot adopt with crypto.
If we have big countries to adopt, that is already very positive for the crypto market as smaller countries are looking at them and they might follow them.

Finally. I'm marking it all. We can't expect some 3d countries w/ no stability and laws bring crypto any success

[patroncito]

Banks will just disappear as Bitcoin strength grows.

People create earn value in their companies, services and jobs. Therefore, they will store that value in the best store of

value available which is Bitcoin.

The people who are not dumping fiat for bitcoin yet, is because they don't understand it yet.

It is just a matter of time before Bitcoin becomes the most valuable asset in the earth surface.

[seramania]

Even though bitcoin in terms of regulation is more free from the bank system, not but bitcoin will easily kill the character of the banking system. I think now we can see that banking is still needed today, despite the increasing use of bitcoin. banking remains the main system for transactions

[owengtam09]

Hello traders. What's your opinion could BTC kill banking system? Bitcoin has an advantage over fiatbecause its amount is limited and it can't fall under inflation.Inflation usually is caused by monetary policies of our central banks. Bitcoin is free from inflation, governement control and  high transaction fees.Banks can’t control BTC because it has no representative and is fully decentralized. That's why banks are afraid of BTC.

No, I don't think bitcoin can kill banks and why should the banks affect the potential of bitcoin? Banks have their own potential and have different offers from our community that can also help us in a way we want and banks and bitcoin/cryptocurrencies are different. We can loan in the bank but we cannot loan from cryptocurrencies. LOL.

[educart]

Bank transfer has become almost complete in Asia and Europe is also actively using CBDC , so switching to a new type of digital money is not difficult. I think the European Bank is feeling pressure from China, which is developing its own stable coin from the bank and we see that they have no choice but to accept innovations.

Euro in its type can be called a token. It is a single coin for many countries. Therefore, a blockchain-based euro will also be easy to achieve popularity in business circles, and not only because it simplifies transactions many times over and the European Union has its own common market where all technologies can be tested.

[WersicyMonree]

Bank transfer has become almost complete in Asia and Europe is also actively using CBDC , so switching to a new type of digital money is not difficult. I think the European Bank is feeling pressure from China, which is developing its own stable coin from the bank and we see that they have no choice but to accept innovations.

Euro in its type can be called a token. It is a single coin for many countries. Therefore, a blockchain-based euro will also be easy to achieve popularity in business circles, and not only because it simplifies transactions many times over and the European Union has its own common market where all technologies can be tested.

They have a strong trump card is Switzerland where there are already cryptocurrency banks with an official vocation. All that remains is to adapt the blockchain for the banking sector. Because the business begins to use cryptocurrencies actively, and thanks to the work of platforms such as taklimakan, everyone can receive knowledge about blockchain and crypto. But while regulation of digital assets is not such a whole, then people will more likely trust the solution to banks. All this is interconnected and contributes to the spread of cryptocurrencies in the world.

[superman2019]

I like that banks also see the advantages of blockchain technology over their existing system. But one thing is not clear to me whether this will lead to the fact that any anonymous coins will be banned from us. If they began to be blocked on centralized exchanges, for example, I’m talking about Monero, then what will happen next? Will this lead to an attempt to impose control on the cryptocurrency industry as well?

Banks now receive a lot of different deductions from users, interest on cash withdrawals, interest on monthly services, on transactions, etc. But no one explains to the user where this sum of the commission comes from. I prefer to use services where the system is transparent and allows you to reduce the number of unnecessary intermediaries due to which such large commissions are removed

[pobeditelvezde]

Hello traders. What's your opinion could BTC kill banking system? Bitcoin has an advantage over fiatbecause its amount is limited and it can't fall under inflation.Inflation usually is caused by monetary policies of our central banks. Bitcoin is free from inflation, governement control and  high transaction fees.Banks can’t control BTC because it has no representative and is fully decentralized. That's why banks are afraid of BTC.

The fact is, this has not happened yet and actually I guess there are no serious reasons to think that bitcoin as a payment system will substitute the bank payment system. We must understand that the bank payment system is incredibly viable because it is made, controlled, managed and encouraged by the government and the most powerful persons in the world. I heard that some private persons possess FED (as shareholders) and there was much rumble around it several years ago where was concerned the us national debt and so on. Nevertheless I do not feel any suspenseful signals which make me think that the world bank system will be changed and reorganized in the nearest future.

[pjcaruci]

Is it possible to combine these two things into one thing? It would be interesting to see that.

[metenjean]

If banks and banking systems want to cooperate with BTC and the banking system uses BTC for the transaction system then I think it will be safe. And can improve the stability of the banking system. But if the banking system does not legalize BTC then it will be a threat.

But now have what your dreaming when bank want to adopt bitcoin as their partner, bank afraid if many people and their member move money from bank to bitcoin, just increase money with higher value is the reason why many people like bitcoin become legal investment way, bank only want to stand with their self without need bitcoin and altcoin as their partner for transaction.

[patroncito]

Is it possible to combine these two things into one thing? It would be interesting to see that.

No, Bitcoin was created with the purpose to kill central banks, banks and its swift system.

A wire transfer takes forever and it can be stopped by the intermediary or the governement.

With Bitcoin and Monero you can transfer any

amount of money from point A to point B with no

restrictions or regulations whatsoever.

That in just a few seconds even on SUNDAYS while banks are closed.

Banks will charge you an insane amount of money for fees

or overdraft interest. While the Bitcoin network charge you

only a couple of cents for a ridiculous amount.

Bitcoin is the key for freedom

[Xxmodded]

Bank transfer has become almost complete in Asia and Europe is also actively using CBDC , so switching to a new type of digital money is not difficult. I think the European Bank is feeling pressure from China, which is developing its own stable coin from the bank and we see that they have no choice but to accept innovations.

Euro in its type can be called a token. It is a single coin for many countries. Therefore, a blockchain-based euro will also be easy to achieve popularity in business circles, and not only because it simplifies transactions many times over and the European Union has its own common market where all technologies can be tested.

Banking and bitcoin never can be one community because bank always try to banned bitcoin as payment currency, Bank disagree when government want to adopt and accept bitcoin as legal currency payment at the future because can make bank down and left by their member, why not saving money in bitcoin can increase our money value than saving with the bank but keep the same how ever long time save.

[Tylev]

The banking system will exist almost as long as the state exists. After all, the banking system serves the economy of any state and is actually part of it.
Bitcoin or cryptocurrency is generally not capable of destroying the banking system either in theory or in practice. A decentralized cryptocurrency should not conflict with the banking system, otherwise it may lose this confrontation. A decentralized cryptocurrency can and should develop in parallel with the current payment systems.

[Firecold4]

In my opinion, BTC cannot kill banks because BTC shortages are
1. High transaction delivery fees
2. BTC does not have a fixed exchange rate like other currencies
3. If saving money in the form of BTC we are not certain of getting profits while banks have interest rates