Future without Middle men big way, but big Question?

[Betwrong]

~
As far as I know there is no place that gives bitcoin loans so far so is a bank still a bank without loans and interests? Basically, it all depends on your description of what a bank is, if you can flex the description a bit we do have banks in crypto world right now.

There are many sites promising interests on BTC deposits, but they are mostly scams, so they don't really count. But I know at least one site, freebitco.in, which indeed pays interests on a daily basis, with the annual interest rate 4.08%. Taking into account that some banks currently have a lower rate and some others even have a negative interest rate, this site can be called a pretty good Bitcoin bank. Nevertheless, even when a site is as trustworthy as the above mentioned one, we should always keep in mind the warning by A. Antonopoulos, “Not your keys, not your coins”, and, consequently, never deposit more than we can afford to lose.

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[imstillthebest]

i thought you are refering to escrows because they are also called middle men and they are verry useful when transacting  but what you got here is banks ?  are banks middle men too ? but how  ?  i thought banks are the ones that process money  . uber and mobile apps you mention are also far from the middle men that im refering with  .

 banks wont dissapear at the end  but there are bankers that quit thier  job or got fired but they can still apply for other work  .

[Arkann]

i thought you are refering to escrows because they are also called middle men and they are verry useful when transacting  but what you got here is banks ?  are banks middle men too ? but how  ?  i thought banks are the ones that process money  . uber and mobile apps you mention are also far from the middle men that im refering with  .

 banks wont dissapear at the end  but there are bankers that quit thier  job or got fired but they can still apply for other work  .

I believe that the clerks of the middle hand, and no more, are leaving the banking system as a maximum, because real bankers who know their job and have great knowledge and experience will always remain in this system and work, if not for one then for another bank  , and maybe even creating something of their own.  In any case, the banking system keeps up to date and has learned to use High Technologies for its own benefit, and thus we will not have to put an end to the future of banks.

[altcointalk14]

The removal of middlemen was the biggest cheer that crypto brought for us. If you are getting your payments through bitcoin or other crypto you will get to know who much blessing crypto is. No middle men means no additional fee and most important is you don't have to wait for days to get your payment

[jameshugo17]

Decentralized structures will now gain importance. Let me tell you about an economic model. In the past, great powers were governed by the intercontinental power. Then this great power passed to the companies. Then this great power passed to the people. Now it's going to decentralized communities. Or pass!

[dunfida]

~
As far as I know there is no place that gives bitcoin loans so far so is a bank still a bank without loans and interests? Basically, it all depends on your description of what a bank is, if you can flex the description a bit we do have banks in crypto world right now.

There are many sites promising interests on BTC deposits, but they are mostly scams, so they don't really count. But I know at least one site, freebitco.in, which indeed pays interests on a daily basis, with the annual interest rate 4.08%. Taking into account that some banks currently have a lower rate and some others even have a negative interest rate, this site can be called a pretty good Bitcoin bank. Nevertheless, even when a site is as trustworthy as the above mentioned one, we should always keep in mind the warning by A. Antonopoulos, “Not your keys, not your coins”, and, consequently, never deposit more than we can afford to lose.

Actually, why would trust up a service if we can do just simply hold of our coins in our own wallet? Come to think that 4.08% or any other interest offered can be attained as fast as we can imagine
when we do talk about Crypto movements neither with bitcoin or on top alts.So i dont really see a point on why people would have to trust up their coins to these platforms?
I would never ever consider out that option and if we do talk about security? Theres no other better things than keeping those coins in your own.

[heidikim]

Blockchain economy will expand. What happens to the banks in this case. There are two possibilities. The banks will either disappear or turn. Because the current order carries a risk of collapse. Banks see this before us and take positions accordingly.

[KnightElite]

~
As far as I know there is no place that gives bitcoin loans so far so is a bank still a bank without loans and interests? Basically, it all depends on your description of what a bank is, if you can flex the description a bit we do have banks in crypto world right now.

There are many sites promising interests on BTC deposits, but they are mostly scams, so they don't really count. But I know at least one site, freebitco.in, which indeed pays interests on a daily basis, with the annual interest rate 4.08%. Taking into account that some banks currently have a lower rate and some others even have a negative interest rate, this site can be called a pretty good Bitcoin bank. Nevertheless, even when a site is as trustworthy as the above mentioned one, we should always keep in mind the warning by A. Antonopoulos, “Not your keys, not your coins”, and, consequently, never deposit more than we can afford to lose.

Actually, why would trust up a service if we can do just simply hold of our coins in our own wallet? Come to think that 4.08% or any other interest offered can be attained as fast as we can imagine
when we do talk about Crypto movements neither with bitcoin or on top alts.So i dont really see a point on why people would have to trust up their coins to these platforms?
I would never ever consider out that option and if we do talk about security? Theres no other better things than keeping those coins in your own.

The sites the offering a lending services where if you store your bitcoins there you will gain interest but most sites like that are mostly likely scam. It is better to hold than to store your bitcoins in that kind of sites. Consider always the risks before you make a decision or a move. Think about the possibility that may happen. You should only do a decision if you think that it can benefit you in the near future. Storing your bitcoins in hardware wallet is better than investing it in online sites that offering returns because the risks are high and your bitcoins cannot be refund.

[mamahdedeh]

~
As far as I know there is no place that gives bitcoin loans so far so is a bank still a bank without loans and interests? Basically, it all depends on your description of what a bank is, if you can flex the description a bit we do have banks in crypto world right now.

There are many sites promising interests on BTC deposits, but they are mostly scams, so they don't really count. But I know at least one site, freebitco.in, which indeed pays interests on a daily basis, with the annual interest rate 4.08%. Taking into account that some banks currently have a lower rate and some others even have a negative interest rate, this site can be called a pretty good Bitcoin bank. Nevertheless, even when a site is as trustworthy as the above mentioned one, we should always keep in mind the warning by A. Antonopoulos, “Not your keys, not your coins”, and, consequently, never deposit more than we can afford to lose.

Actually, why would trust up a service if we can do just simply hold of our coins in our own wallet? Come to think that 4.08% or any other interest offered can be attained as fast as we can imagine
when we do talk about Crypto movements neither with bitcoin or on top alts.So i dont really see a point on why people would have to trust up their coins to these platforms?
I would never ever consider out that option and if we do talk about security? Theres no other better things than keeping those coins in your own.

right, our fate is what determines ourselves. keep it in a personal wallet, however safer because we ourselves manage it, as long as we are not careless I think it will remain safe. different from saving on the exchange as you mentioned, where mistakes that are not our personal, can eliminate our assets

[EdvinZ]

Blockchain economy will expand. What happens to the banks in this case. There are two possibilities. The banks will either disappear or turn. Because the current order carries a risk of collapse. Banks see this before us and take positions accordingly.

The blockchain economy will really expand and this applies not only to the financial sector. Blockchain has the potential for application in completely different areas. As for banks, they just adjust to the trends of the time and will do everything possible to retain clients.

[Sahyadri]

This is just like debating whether AI will take away jobs? The thing is that there will be disruption for sure. People will lose job but new jobs will be created as well. It is just that you need to hone your skills accordingly. If you look into job descriptions of many companies for various different profiles, blockchain knowledge is becoming an essential requirement.

So yeah, there will be a job loss which could be at massive scale, but simultaneously more different jobs will be created in one way or other.

[sovie]

This is just like debating whether AI will take away jobs? The thing is that there will be disruption for sure. People will lose job but new jobs will be created as well. It is just that you need to hone your skills accordingly. If you look into job descriptions of many companies for various different profiles, blockchain knowledge is becoming an essential requirement.

So yeah, there will be a job loss which could be at massive scale, but simultaneously more different jobs will be created in one way or other.

I think its too early to say and think that crypto will take over all financial institutes of the world and there will no middlemen. Middlemen will be there but it will be transformed into something else. If you are a freelancer you can understand the importance of middlemen (upwork, fiverr) who take care of both buyer/seller interest.

[clickerz]

Blockchain economy will expand. What happens to the banks in this case. There are two possibilities. The banks will either disappear or turn. Because the current order carries a risk of collapse. Banks see this before us and take positions accordingly.

Its either you have to join and embrace the system or ceased to exists. I think banks should adopt or utilized the system and I think it is even starting now as other banks are allowed to have or develop their own cryptocurrency. The concept of being decentralized is indeed against the government and banks as no one controls it.

[awik p]

This is just like debating whether AI will take away jobs? The thing is that there will be disruption for sure. People will lose job but new jobs will be created as well. It is just that you need to hone your skills accordingly. If you look into job descriptions of many companies for various different profiles, blockchain knowledge is becoming an essential requirement.

So yeah, there will be a job loss which could be at massive scale, but simultaneously more different jobs will be created in one way or other.

I think its too early to say and think that crypto will take over all financial institutes of the world and there will no middlemen. Middlemen will be there but it will be transformed into something else. If you are a freelancer you can understand the importance of middlemen (upwork, fiverr) who take care of both buyer/seller interest.

we must remember that we live as a state, and our freedom is freedom governed by the state. therefore of course the country cannot yet decide to lose control of the financial system, and I think cryptocurrency is still long to replace the current fiat currency payment system

[Pamadar]

Blockchain economy will expand. What happens to the banks in this case. There are two possibilities. The banks will either disappear or turn. Because the current order carries a risk of collapse. Banks see this before us and take positions accordingly.

The blockchain economy will really expand and this applies not only to the financial sector. Blockchain has the potential for application in completely different areas. As for banks, they just adjust to the trends of the time and will do everything possible to retain clients.

The banks have a huge money to use if in case they've needed to adjust and switch over this new technology. As we all knew how wise this big players and how they will be able to manage each situations that will test their business. We never know if they already behind this new system and they are just working behind to make sure the safety of their investment. Bankers looks more advance than ordinary people, the assurance that they will find ways to continue benefiting is always possible.

[AniviaBtc]

i thought you are refering to escrows because they are also called middle men and they are verry useful when transacting  but what you got here is banks ?  are banks middle men too ? but how  ?  i thought banks are the ones that process money  . uber and mobile apps you mention are also far from the middle men that im refering with  .

 banks wont dissapear at the end  but there are bankers that quit thier  job or got fired but they can still apply for other work  .

I believe that the clerks of the middle hand, and no more, are leaving the banking system as a maximum, because real bankers who know their job and have great knowledge and experience will always remain in this system and work, if not for one then for another bank  , and maybe even creating something of their own.  In any case, the banking system keeps up to date and has learned to use High Technologies for its own benefit, and thus we will not have to put an end to the future of banks.

Middle hand are the one who process our need in the bank, why will you let them loss their job? They are needed in every banks, no matter what kind of bank is that. But nowadays, the banks are just using our Technology to give services to their customers because they want high quality service for them to gave satisfaction to the customers. But let's hope for the future banks to improve their own.

[CarnagexD]

Blockchain economy will expand. What happens to the banks in this case. There are two possibilities. The banks will either disappear or turn. Because the current order carries a risk of collapse. Banks see this before us and take positions accordingly.

Its either you have to join and embrace the system or ceased to exists. I think banks should adopt or utilized the system and I think it is even starting now as other banks are allowed to have or develop their own cryptocurrency.

Banks now are very selective on what they are going to adopt aside from most popular ones, and if they'll find it will be a stable one for sure. It's good to see how the bigger banks are initiating to utilize the revolutionary currency giving more freedom to people.

The concept of being decentralized is indeed against the government and banks as no one controls it.

Frankly speaking the government does not want it, until they noticed how it changes people with using the crypto compare to fiat now they are claiming it. But it would really be bad if decentralization takes over the people, there would be a chaos in the market and small people will lose it.

[blckhawk]

It is not impossible to eliminate middlemen in transactions, though it would be difficult, or rather still ages from now, when an era that everything is almost digitalized. And yes, it does make more people unemployed, since traditional banking systems are requiring more manpower than running the blockchain alone.

And thus, without that manpower, transaction fees are cut significantly lower, which is one of the advantages of cryptocurrencies over banks.

[abhiseshakana]

It is not impossible to eliminate middlemen in transactions, though it would be difficult, or rather still ages from now, when an era that everything is almost digitalized. And yes, it does make more people unemployed, since traditional banking systems are requiring more manpower than running the blockchain alone.

And thus, without that manpower, transaction fees are cut significantly lower, which is one of the advantages of cryptocurrencies over banks.

The role of banks as collectors and distributors of public funds may be replaced by the blockchain system, but banks have supporting services as part of services that not all can be replaced by blockchain. Banking institutions are synonymous with saving and credit applications. Credit provided by banks is a magnet that can hardly be refused by everyone both for consumption and for business. In addition, banks are also considered as the safest institutions to save money because they provide guarantees of repayment in the event of a malfunction in the bank system or human error from bank officers.

To carry out the function of raising funds the bank has several sources which are broadly divided into three sources namely;
- funds sourced from the bank itself in the form of a capital deposit at the time of establishment.
- funds originating from the wider community that are collected through banking businesses such as the business of demand deposits, deposits, and savings.
- Funds sourced from Financial Institutions obtained from loan funds in the form of Liquidity Credit and Call Money (funds that can be withdrawn at any time by the borrowing bank) and meet the requirements

We can make the role of banks minimal or disappear if we eliminate our dependence on banks. By starting, do not save our money in the bank and do not apply for credit to banks that work with the interest system.

[Harriti]

What about Middle - men? 
If we Don't have banks anymore traditions ways then are the bankers Will be unemployed? 


Do you think  life without middle men Will be better? 

At the moment, I don't feel any better without middle men. because there are so many scammers out there and we always need middle men to make personal transactions. I know you're talking about a modern world and people can directly connect more easily with many target partners without middle men, but that will never exist. Our society is replacing with modern technology, now we don't have many middle men but there will be many middle services.