Bitcoin banking system

[kotajikikox]

Some fuck banned me for 7 days on here. Bitcoiners can not run a bank. They are to defensive. And as you can see on the advertising. Endorsing crime.

PS. Same shitbag deleted a lot of my posts.

deleting post is normal in this forum no one can skip from that so accept that reality mate.

Nah, I don't think so, there's too many things that require debt and parents to be automatically done. Unless you're willing to give the bank your coins to hold and they do everything for you, but then what's the point over fiat if you have no control anyways.

i don't also know whats behind needs for banks when we cans tore our bitcoin on our own wallet and keep it safe.
i have been reading some ,post way back about this banking that demands by someone while the main reason that is why we are all here as we are looking for privacy and more security.

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[TopExchanger]

Bitcoin can challenge the banks. But at this moment we face one problem: the banking system is controlled by the government. And the government won't let it happen.   Another thing is that Bitcoin is more volatile, and some people can't stand it.

[Darker45]

Bitcoin can challenge the banks. But at this moment we face one problem: the banking system is controlled by the government. And the government won't let it happen.   Another thing is that Bitcoin is more volatile, and some people can't stand it.

Early on, the scene was probably like a direct challenge of Bitcoin to the deeply-entrenched banking system. However, it evolved over the few years that the banks and Bitcoin are existing at the same time. Right now, I can see some parallel movements although not totally since the banks are strictly bound to follow certain rules. Or perhaps the banks are merely playing the game very well so as not to get dislodged from its juicy position?

Volatility has some pros and cons. But I surmise that when the central banks of different countries will issue their own digital currencies, they will gain a much faster adoption among their citizens. Not least because it is stable and sanctioned by the state.

[yazher]

Hello! 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.

Before we can do this thing, we need to support every BTC developments and stay positive whatever bad result we see in the market because we know the price will rise again somehow. We also need to support BTC in the way that we can positively invite others to invest in it. I hope with the current situation in the market will make some other big companies invest some of their money in BTC.

[carlisle1]

Bitcoin can challenge the banks. But at this moment we face one problem: the banking system is controlled by the government. And the government won't let it happen.

if people starts to believe in Bitcoins capabilities and power?government cannot doi nothing but to accept it unless they will deny the freedom and willingness of their people,because this is for their own welfare and benefits.

   Another thing is that Bitcoin is more volatile, and some people can't stand it.

this is the feature of Bitcoin that will be loved by people,same like ours right?we fell inlove in this market because of the volatility that brings us profit but also make us fail if we dont know how to deal with Cryptocurrency Market.

[LbtalkL]

Bitcoin is killing it already, I guess banks are the biggest scam run by the government, Imagine 1 - 2% interest of your deposit per year? Maybe they are using our money to invest in stocks and maybe cryptocurrency and gain big profits from it. Maybe banks are one of the cryptocurrency whales? Just a hunch but it is possible. Bitcoin already beating it in terms of fees, etc. and it is more convenient.

[Debonaire217]

Bitcoin is killing it already, I guess banks are the biggest scam run by the government, Imagine 1 - 2% interest of your deposit per year? Maybe they are using our money to invest in stocks and maybe cryptocurrency and gain big profits from it. Maybe banks are one of the cryptocurrency whales? Just a hunch but it is possible. Bitcoin already beating it in terms of fees, etc. and it is more convenient.

Banks are undergoing lots of procedures and they can't just invest your funds but different companies are borrowing it for investment. In simple terms, banks helps the economy have the money circulating that is needed by the entire country. Imagine if there is not regulation with the money, how could government run efficiently? Majority of the projects or almost the entire projects of government are run by taxes and what makes it possible is because of banks.

Though, the downside of it is the total regulation of the money, leaving people out of control to their savings.

[blckhawk]

It's worthy to note that there are two types of inflation, namely price and monetary inflation. While Bitcoin cannot suffer in monetary inflation, which is the inflation caused by limited supply, it can still suffer in price inflation.

Goods and services can be priced higher when the demand is low, and vice versa. Mainly known as volatility in the market.

[Ozero]

Hello! 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.

It might kill the old banking system if it does not bend to suit the call of the times. However, it seems that the banks are fully aware that the technology brought by Bitcoin is the future and they are now making adjustments. Gone are the days when the banks remain adamant in their old system and put up a resistance to the growing popularity of Bitcoin. Today, even a local bank in my developing country is installing Bitcoin ATM.

Bitcoin does not lose its purchasing power in a similar fashion to fiat but its value could plunge anytime worse than fiat. Bitcoin's price fluctuates. But the good thing is that it could suddenly decrease as much as it could also increase very quickly.

Even despite some of the advantages of bitcoin, the banking system would continue to exist even if it had not adopted blockchain technology and cryptocurrency. Cryptocurrency and the banking system generally perform different functions. In banks, these functions are much wider. In addition, the banking system is under the reliable protection of states and they would not allow it to die, even if cryptocurrency posed such a threat to it. However, bitcoin and other cryptocurrencies do not affect the banking system so much as to fear for its existence. At the same time, banks fully accept blockchain technology, as evidenced by its use of the ripple network and the planning of the release of its national stable coin by many states. Banks and cryptocurrencies will exist in parallel with each other.

[LbtalkL]

Bitcoin is killing it already, I guess banks are the biggest scam run by the government, Imagine 1 - 2% interest of your deposit per year? Maybe they are using our money to invest in stocks and maybe cryptocurrency and gain big profits from it. Maybe banks are one of the cryptocurrency whales? Just a hunch but it is possible. Bitcoin already beating it in terms of fees, etc. and it is more convenient.

Banks are undergoing lots of procedures and they can't just invest your funds but different companies are borrowing it for investment. In simple terms, banks helps the economy have the money circulating that is needed by the entire country. Imagine if there is not regulation with the money, how could government run efficiently? Majority of the projects or almost the entire projects of government are run by taxes and what makes it possible is because of banks.

Though, the downside of it is the total regulation of the money, leaving people out of control to their savings.

We don't really know that, we are just ordinary citizen unless you are from the government?, Yes they are supposed to do that to run our government efficiently but you can't deny the fact that there are some corrupt governments with hidden anomalies and stealing the money of its people. Just like what I say it is just a hunch but it is possible.

[davis196]

Hello! 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.

BTC can't kill the banking system,because the banking system could simply adopt it.
Inflation isn't so bad.It can help for further economic growth.Having money with decreasing value motivates all the people and businesses to work harder and make more money.If the value of all money was constantly going up,all the people would simply wait and hold their money,instead of spending them.
I don't think the banks are afraid of BTC.Anyway,this topic has been discussed 1000 times on the forum.
There's no point of asking the same questions again and again.

[valuater]

Some fuck banned me for 7 days on here. Bitcoiners can not run a bank. They are to defensive. And as you can see on the advertising. Endorsing crime.

PS. Same shitbag deleted a lot of my posts.

When the discussion that you submit outside of the topic thread is reasonable if your post is deleted because it complies with applicable regulations.

Bitcoin can challenge the banks. But at this moment we face one problem: the banking system is controlled by the government. And the government won't let it happen.   Another thing is that Bitcoin is more volatile, and some people can't stand it.

It is not easy for Bitcoin to challenge banks because the state system used still uses banking as a reference to control finances, indeed this has become one of the main problems where bitcoin cannot be legalized by the banking system, but when it does happen there is a high possibility that bitcoin could become a revolution the best finance in the future, even though it also takes a long time.

[alexsandria]

Hello! 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.

I don't see that the bitcoin can killed the banking system because still many people will use the banking system because they are more familiar on it than other system so it would be better if we stop by there. Maybe there would be a chance that thr old banking system will be killed if they will not follow the continuously upgrading of the system meaning if they will still use the old banking system then probably bitcoin will killed them...

[alizarosa3123]

Banks will not go bankrupt considering the length of your time that Fiat has a presence, considering whether Bitcoin is working admirably today. Traditional cash is hard to beat banks like this. Individuals need their cash to be confirmed by a centralized company. Furthermore, to realize that Bitcoin can be a decentralized thing, there are still people who are afraid to use it. However, there are some banks that have found Bitcoin beneficial and have now joined the block-chain where we will buy Bitcoin to them.

Then again we can understand overall that Bitcoin is completely regulated and banks certainly were not. There is a need to be prepared for any danger to lose speculation with BTC.

[CarnagexD]

Banking systems try to implement crypto in their work in every possible way, but this is a false path. Banks will not be able to coexist with crypto in the future

Today bitcoin is one of the most profitable and fastest ways of earnings and many people now are trying to use this to avoid getting too much tax and also they want to lessen the transaction fees and today @OP there are a lot of countries now are accepting the banking system of the bitcoin and some of this country now are already make an ATM tell that they are supporting this kind of currency if this kind of transaction will be accepted into another country there is a big chance it will accept to the nearest counties supporting the use of the bitcoin too. But I think the government now will start to go with the bitcoin and they will use this to limits the transactions.

[hv_]

Bitcoin won't kill the banking system, it has been there ever since so the trust of the people and its sympathy will be on the banks. It's regulated by the government so we can't think about its death for now.

There are just afraid of bitcoin because it will pull their customers out of their service. The money from their customers is where they're getting their capitals for loans so if most of their customers understands bitcoin correctly, they fear that time to happen.

Bitcoin is just some aditional system / asset banks ca use

they are only afraid of getting tainted by the mass of scams you can debunk - US regulators are just too slow  / fuzzy - I wonder why ?

Cause xrp / eth / ico scammers keep them busy ?

[bcarts]

Is there any purpose designed crypto bank platform? I mean any fiat funds deposited are automatically converted to some ERC20 stable coin? I know you could technically do it on exchanges already like binance. But for any business in high risk industries who struggle dealing with banks, could be an interesting service.

[wozzek23]

Bitcoin is very strong , but another question we have to be asking ourselves is whether our government is going to let Bitcoin prevail?
Bitcoin gives us freedom, and to the government it is out of reach and cannot be controlled by them. So, do you think that they are going to allow people to go fully on Bitcoin? If they notice that majority of the people are starting to move away from fiat and moving into Bitcoin, they might start putting up a fight against it.

Some of them are now talking about creating their own cryptocurrency, and I saw news recently that China is close to releasing theirs, even saw someone that posted the Chinese cryptocurrency wallet, what it looks like in this forum.

[Sanugarid]

Bitcoin is very strong , but another question we have to be asking ourselves is whether our government is going to let Bitcoin prevail?
Bitcoin gives us freedom, and to the government it is out of reach and cannot be controlled by them. So, do you think that they are going to allow people to go fully on Bitcoin? If they notice that majority of the people are starting to move away from fiat and moving into Bitcoin, they might start putting up a fight against it.

To answer the question very simply, why would the king of a state let another entity to take control its territory? Of course government do not want any decentralized body to take over them to keep the order in people, It is either they are going to prohibit the use of it or adopt the use of it but most likely they cannot totally ban the crypto in a way that they are not going to sacrifice any thing. It is not a fight for the bitcoin to win, this is the common misconception about bitcoin and government, this is not a fight but instead this is an ongoing process of acceptance.

Some of them are now talking about creating their own cryptocurrency, and I saw news recently that China is close to releasing theirs, even saw someone that posted the Chinese cryptocurrency wallet, what it looks like in this forum.

Digital Central Bank Currency are already present in some countries, and some are in testing to have their own actually I don't really see this fully working in 2 years but I hope this will be a good time to test it out and launch in the future.

[Ifra24]

Hello! 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.

This is natural, because all countries system must have a central bank. The Central Bank institution that is responsible for maintaining the stability of prices of goods and services, as well as the exchange rate of a currency that applies in a country. If BTC is legalized and become a means of payment this will be difficult. Because the central bank cannot control. If it is legalized and regulated by an institution, the original nature of BTC is not decentralized. Moreover, the use of Bitcoin as a means of payment will collide with the scalability problem. So bank institutions in a country need to regulate issues regarding the legality of BTC.