There must be more banks in the world than number of cryptocurrencies

[DashingAgent]

There must be more banks in the world than number of cryptocurrencies

More banks = More Money
More banks can also help to keep the dollar and other currencies stable, as it is because a competition exists between banks which helps to keep the dollar or any other fiat currency stable. It will also help to keep the Bitcoin and number of other cryptocurrencies stable as in near future banks will also accept bitcoin so they would want to keep the bitcoin stable to prevent from losses. Which means that if a whale who holds thousands of bitcoins sells it to dump the market for his own benefit, may fail to disturb the market. It will also provide the security to cryptocurrency. Banks are also good for economy growth and it helps the governments to pay and collect taxes. If there will be more banks, governments would want to reduce or even remove taxes from cryptocurrencies as they can earn sufficient amount through banks to run its economy.

[Gozie51]

It will also provide the security to cryptocurrency. Banks are also good for economy growth and it helps the governments to pay and collect taxes.

This is about the role of banks and which is the major purpose they were established, financial purpose. Banks are  like building or structure created by government to take and execute order from them.

It will also provide the security to cryptocurrency.

How does it do that? If not to serve as store room for fiat keeping and maybe transfer to exchanges like accounts linked to exchanges and that is even provided by P2P. Is that the security you mean here, you could explain.

[crzy]

Banks are creating a lot of branches to give access to many people and of course to attract many so they can earn more interest of course. Those banks are being in favored by the government because they are paying taxes while cryptomarket, not all are paying taxes.

Banks on the other hand doesn’t provide security to cryptocurrency because it is not regulated, and banks hate bitcoin. If time applies, Cryptocurrency will grow more compare to banks we need this market and government will slowly realize this.

[Kong Hey Pakboy]

Based on estimates, there are around 32 thousand banks around the world, I don't know if it is accurate. Also, more banks doesn't necessarily means that the prices are stable for fiat currency since banks role is to circulate the money back to the economy.

[Husires]

You need to define the word more banks there are central banks, financing banks, the World Bank, commercial banks and other banking services.
Not all banks print money and make more money some of them work to implement state policies in controlling cash and redistributing money to investors and others.

The idea of banks is based on trust in a third party, and it has proven its failure in the event that governments weaken their supervision of these banks and put some regulatory restrictions in place.

we don't need All cryptocurrency and 99% of Altcoins will have 0 value or will act as stocks.

we only need bitcoin.

[YOSHIE]

There must be more banks in the world than number of cryptocurrencies

If I quote from the main objective of the Bank, it has no impact at all in this case, crypto.
Precisely if it is examined more deeply the main objective of the Bank.

Bank functions as the center of economic activity with the main business activity of collecting and channeling public funds or transferring public funds from surplus units to deficit units or transferring money from savers to borrowers.

Precisely here it will form a profit for the Bank itself, in the transaction.


I think this has no effect on a few cryptocurrencies or a lot of banks in this world.
As we know that for now crypto currencies are traded with dollars and fiat in their respective countries.

Few banks or many crypto currencies, or vice versa, the process is the same, still measured by the supply of dollar / fiat in circulation that has been determined by the government.

For me more crypto currency is better, more rounds per transaction per day, in general the bank is more profitable, less bank is better.

[ReiMomo]

This is actually one of the best topics I’d participated in today. I really like your idea about banks accepting bitcoins. But something doesn’t match here. Something’s wrong.

So here, let me point this. There is a lot of chance that banks will accept Bitcoin. According to studies, there is a 30% chance that banks will consider bitcoin in the next 10 years. And this percentage is enough.

However, if that happens things will change as we want them to be.

Bitcoin might be stable, stable enough for it to be forced to be centralized and regulated. During that time, all of the transactions must follow the anti-money laundering act and that’s a pain in the ass, I swear. So we would better stick with what we have now and take advantage of it until it lasts.

[macson]

Based on estimates, there are around 32 thousand banks around the world, I don't know if it is accurate. Also, more banks doesn't necessarily means that the prices are stable for fiat currency since banks role is to circulate the money back to the economy.

right, the number of banks is very large in this world, so far there are more than 30000+ banks in circulation throughout the world.


https://en.wikipedia.org/wiki/Lists_of_banks

Banks in each country have a role in the circulation of money in their own country and do not act globally except for the World Bank.  create more Banks won't make the economy better, it will only add to the rampant “loan sharks”.

[romero121]

Banks always serve as the backing system of a country's economy. More the banks, easier will be the accessibility. Even now there are more than 15% of the world population doesn't own a bank account. Transition is part of development/growth. As a result people think to have control over their own funds. This is the reason why there is more discussion of having bitcoin based banks than fiat based banks. The future isn't fiat based or cryptocurrency based, there is coexistence of service.

[Bitstar_coin]

If you minus the many branches each bank has I don't think the actual bank are as much as the number of different projects we have in the market, and until banks start accepting crypto I don't see how creating of more banks can help crypto, at least not now, between it is market that determine price not banks, even if they were to be part of crypto I doubt they can keep it stable, I don't think the market behaves that way, there must be correction for a healthy market.

[bekti3]

and so far we are looking forward to how the bank accepts bitcoins gracefully? I still don't understand, maybe I'm not too sensitive about the position of the bank. what is clear is that I like cryptocurrency and make it a top priority.

[goldade]

There must be more banks in the world than number of cryptocurrencies

More banks = More Money
More banks can also help to keep the dollar and other currencies stable, as it is because a competition exists between banks which helps to keep the dollar or any other fiat currency stable. It will also help to keep the Bitcoin and number of other cryptocurrencies stable as in near future banks will also accept bitcoin so they would want to keep the bitcoin stable to prevent from losses. Which means that if a whale who holds thousands of bitcoins sells it to dump the market for his own benefit, may fail to disturb the market. It will also provide the security to cryptocurrency. Banks are also good for economy growth and it helps the governments to pay and collect taxes. If there will be more banks, governments would want to reduce or even remove taxes from cryptocurrencies as they can earn sufficient amount through banks to run its economy.

Why would you desire that there should be more banks in the world than the number of cryptocurrencies. Banks are not in favor of cryptocurrencies and won't provide any form of security to cryptocurrencies. This is actually because bitcoin and other cryptocurrencies where created to take power of the banks and the government and give that power to the masses.
The essence of bitcoin and cryptocurrencies as a whole is to live without the banks because a bitcoin user would be his own bank. He wouldn't need the banks to make transactions, his transactions fees would be determined by him and not the bank. I hope you get the idea now.

[wxxyrqa]

Banks always serve as the backing system of a country's economy. More the banks, easier will be the accessibility. Even now there are more than 15% of the world population doesn't own a bank account. Transition is part of development/growth. As a result people think to have control over their own funds. This is the reason why there is more discussion of having bitcoin based banks than fiat based banks. The future isn't fiat based or cryptocurrency based, there is coexistence of service.

You are really right, because, first of all, the banking system offers certain services, and it does not matter in what currency certain transactions take place. Therefore, banks will really be able to use not only Fiat, but also bitcoins, of course, if the state creates certain regulatory rules, because no bank will act differently.

[Fesatmas]

Why would you desire that there should be more banks in the world than the number of cryptocurrencies. Banks are not in favor of cryptocurrencies and won't provide any form of security to cryptocurrencies. This is actually because bitcoin and other cryptocurrencies where created to take power of the banks and the government and give that power to the masses.
The essence of bitcoin and cryptocurrencies as a whole is to live without the banks because a bitcoin user would be his own bank. He wouldn't need the banks to make transactions, his transactions fees would be determined by him and not the bank. I hope you get the idea now.

it is true, but not all banks reject crypto, you also have to know and should not forget where like USAA bank, Banco Masventas in Argentina (May 22, 2018), German digital bank (Fidor Bank) etc., they just provide access to cryptocurrency. even with the limited number of transactions, it still proves that gradually the bank will comply and follow the bitcoin flow.

[Coyster]

It will also help to keep the Bitcoin and number of other cryptocurrencies stable as in near future banks will also accept bitcoin so they would want to keep the bitcoin stable to prevent from losses.

The reason there are quite a lot of users on the Bitcoin network is cause of the "be your own bank" anxiom, I think that factor already makes it somewhat improbable for banks to adopt Bitcoin, banks are centralized bodies and the only connection they have with Bitcoin is through centralized exchanges, where one can buy BTC with their debit card and receive fiat in their bank account after selling, but all that is possible cause the exchange is a centralized one and is still somewhat controlled by the country of it's location. But in the 'true' definition of Bitcoin, the presence of banks is an impossibility cause third parties have already been eliminated, with freedom and control in the hands of it's users.

More banks = More Money

This is not true, building more banks imo doesn't automatically mean there'll be more flow of money in the country or better economic growth, remember that people need to first make money before they can use banks, thus it's things like creating more job opportunities, building infrastructures, supporting microeconomics, etc that causes more cash flow within a country, better economy and even the use/needs of more banks.

[fiulpro]

More banks is not equal to more money !
It would not help anyway in stability!
It would be more chaotic!
There will be many centres of money distribution which would mean it would be extremely hard to control and therefore it also would not be able to provide a stable economic situation causing the whole system to collapse.
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Let me ask you something- " Why do you need banks ?"
Aren't the ones available already sufficient?
Isn't this all already a good sport ?
Get a bank account which supports the transactions to and fro with respect to cryptocurrencies and guess what! You won't have to actually worry much since how a days your crypto wallet is more than capable of handling just buying and selling of cryptos.
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A stable amount of banks are needed but never in excess! Maybe the existing situation of the banks can be improved for real but adding more and not focusing on the situation would have a drastic impact.

[Fortify]

"There must be more banks in the world than number of cryptocurrencies"

That sentence is utter garbage and shows a clear lack of understanding of how the business world works. Anyone can create a cryptocurrency, anyone can create a million cryptocurrencies if they wanted. Nobody would necessarily buy them but you could create that many if you could create enough garbage names for them. Except for central banks, the majority of banks are companies and over decades the amount of actual banks has greatly shrunk - there used to be many more. However they run on a low margin and highly competitive business model which is normally restricted to lending out deposits that customers make. If they are properly regulated and governed with sensible leverage rates this becomes a stable business that might wobble a bit in recessions.

[mu_enrico]

There must be more banks in the world than number of cryptocurrencies

This is like comparing apples to perhaps fishes, not even related.

There are 180 currencies recognized as legal tender in United Nations (UN) member states, UN observer states, partially recognized or unrecognized states, and their dependencies. However excluding the pegged (fixed exchange rate) currencies, there are only 130 currencies (which are independent or pegged to a currency basket).

Source.

Suppose you want to make a monetary policy case, you should use central banks since commercial banks cannot make more money (or controlled by central banks). My bet is it will still be much lower (search result said about 200) than the number of cryptocurrencies. It explains why most cryptocurrencies were worthless.

[iamsheikhadil]

I disagree, banks aren't just financial institutions that holds of secures someone's money, they also do some fish stuffs, like printing money, holding reserves (thus giving them so much control over people's money) and it aids the government to control people's wealth by using people's savings in evil goals by the government. Banks generally are an enemy to humanity!

[Mauser]

More banks = More Money


More banks can also help to keep the dollar and other currencies stable, as it is because a competition exists between banks which helps to keep the dollar or any other fiat currency stable. It will also help to keep the Bitcoin and number of other cryptocurrencies stable as in near future banks will also accept bitcoin so they would want to keep the bitcoin stable to prevent from losses. Which means that if a whale who holds thousands of bitcoins sells it to dump the market for his own benefit, may fail to disturb the market. It will also provide the security to cryptocurrency. Banks are also good for economy growth and it helps the governments to pay and collect taxes. If there will be more banks, governments would want to reduce or even remove taxes from cryptocurrencies as they can earn sufficient amount through banks to run its economy.

I don't think this is necessarily true because not every bank can print money. It is usually the role of the central bank to print money. So a traditional bank has only more money at hand if more customers are saving money at the bank. In my opinion, having more banks is only a good thing if they offer different services. Like having a special bank for crypto currencies, one for real estate, one for traditional savings, one for investment banking, etc. If all the banks would just offer the same type of services and products that it seems a bit redundant to me. There would be a lot of chances to save costs in mergers.