Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Bobcrypto on March 25, 2019, 08:09:24 PM
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Yes, i think things have changed over the years, and the enthusiasm about digital coins is much stronger today.
Most people tend to view Crypto this way, as they are desperate to take a step away from the banks, which are becoming more and more powerful, while they can do whatever they want with everyone's money. Meanwhile, Bitcoin/Altcoins provides people with the ability to own their own funds, and do with them what they want while keeping their privacy.
Again, Crypto is actually seen as a better asset to invest in, as it is a private market, which cannot be controlled by governments or banks. Further, many Crypto are capped, and there can only be a certain amount of most of them, ever.
I have come to a conclusion, though its my opinion, that people are simply looking for a way to get their money out of the bank and be free to do what they want with it. Banks introduced limits and control, which is something that people are simply not comfortable with.
Now, do you think that Banks may be less attractive or may be completely obsolete in the near future? Your thoughts.
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You may be right, my friend. But we still need the banks to convert crypto coins for Fiat. If crypto space gets better and the market can recover, I agree for saving money people maybe prefer to choose crypto coins than banks. However, the banks are needed, I don't think it will be very less attractive at all.
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Yes, I think things have changed over the years, and the enthusiasm about digital coins is much stronger today.
~snip~
Banks introduced limits and control, which is something that people are simply not comfortable with.
I agree if the enthusiasm to join crypto businesses is stronger or higher day to day. It is positively for the future of crypto space, it can compete with banks to exist for helping financial and economic sectors.
You are also correct that Banks just have strict regulation and limits the activities of the customers. It sometimes makes people have difficulties. While crypto offers the solution, it is the good side that makes people are interested in crypto.
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I think it's the feature that can differentiate from banks and cryptocurrency.
The features of the BANK are the same as it does not have any security, unlike the cryptocurrency which always varies by providing several features.
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More or less the business for banks will be affected either by investment clients or even savings account when there is other alternative most people will not want to keep all their eggs in one basket.
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Banks perform much more functions compared to cryptocurrency. Therefore, they will always be in demand and will continue to exist in their normal mode. After the spread of cryptocurrency around the world, banks will not be less attractive. In addition, the activities of banks, especially state-owned, will always be defended by the state itself.
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Some banks are already adapting to the revolution called crypto. Check out news on banks integrating blockchain. Add to that the fact that JPM launched its own and also the recent move by IBM with the six banks.
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I have no idea about in the near future, the bank will be less attractive. As far as I know, the banks are always needed and no less attractive on it. Moreover, banks have already known well by people around the world. I think I have a little different view than you.
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Well, it may be true. We may think that the crypto bank may be widely used in worldwide. However, I don't know whether it can reach all countries in the world. That is why it will depend on the condition of every country whether accepting the crypto or still maintaining the bank system.
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Then for now the Bank begins to adopt the Blockchain work procedure because by the way Blockchain is very transparent for every transaction that is done.
As is the case in Local Banks have adopted the Blockchain for money transfer systems.
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For now banks has been more attracted than crypto coins because of many useful features but in the future i think crypto will be more useful than fiat because online transaction will be lessen the burden of all people.
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May be it is possible that crypto will makes banks less attractive in near future because crypto has many attractive feature, the most important is transparency and transfer system.
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No matter what happens ,the fact is that banks will still be part and parcel of our daily activities .
I do believe that when cryptocurrency goes mainstream that it will affect the banking sector negatively because most bank customers would move their funds to cryptocurrency.
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I do not think that banks will miss the opportunity to capitalize on the popularity of cryptocurrencies and give way to them. Some banks have already begun to create infrastructure to provide their customers with services for the storage of cryptocurrencies, transfers, and so on, so banks will work together with cryptocurrencies in the future.
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i don't think so , i never agree that banks and banking system less attractive on near future. as a crypto enthusiast wee need bank this system provides to customers service can't done by crypto. if we own crypto coins we change it to flat money. if we save crypto it's value easily decline not like flat money . regardless the popularity of bitcoin and many countries now recognized it but can't make bank less attractive but but bitcoin and banking system can works hands in hands in future
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If I have a large amount of funds at the bank, I am thinking of queuing up and bringing too much money. When crypto was introduced to everyone, I preferred this transaction, there was no long queue. Waiting in other places and confused looking for loans. already present with all the ease. there will be an online loan transaction using crypto that can be exchanged with fiat. and this will make it easier for everyone to transact
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This trend has already began as people who know much about crypto do not patronize the banking services as much as the ignorant ones. Cryptocurrency will cause a major disruption in the banking system because crypto will offer the people the freedom and absolute control over their transactions. Here, transactions are made easier without third party interruptions, with much speed, much security, and at low transaction costs.
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Many people are busy and there is no time to do other activities besides being in the office and on vacation, while all facilities have been offered by crypto, many suspect the bank will close, but the bank feels rivaled by the presence of crypto and as I see, crypto bank has there is to make it easier for everyone to transact
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It is true, if viewed from the investment side. But if viewed from the side of savings or savings, banks are still needed by traders. In my opinion crypto and banks can still be matched.
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I am sure if crypto is able to survive bank attractiveness will definitely be affected but we cannot really say will it be good or bad. Crypto survival can make people see more carefully on making investment and in the long run more people might come in crypto market or stay away from it but go into bank managing their portfolio.
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Yes, i think things have changed over the years, and the enthusiasm about digital coins is much stronger today.
Most people tend to view Crypto this way, as they are desperate to take a step away from the banks, which are becoming more and more powerful, while they can do whatever they want with everyone's money. Meanwhile, Bitcoin/Altcoins provides people with the ability to own their own funds, and do with them what they want while keeping their privacy.
Again, Crypto is actually seen as a better asset to invest in, as it is a private market, which cannot be controlled by governments or banks. Further, many Crypto are capped, and there can only be a certain amount of most of them, ever.
I have come to a conclusion, though its my opinion, that people are simply looking for a way to get their money out of the bank and be free to do what they want with it. Banks introduced limits and control, which is something that people are simply not comfortable with.
Now, do you think that Banks may be less attractive or may be completely obsolete in the near future? Your thoughts.
Yes I think crypto will make banks less attractive in near future, because crypto is very potential and very profitable
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For investment purposes, crypto is the right reference. Because the benefits of crypto investment can go up with considerable value. While banking is more suitable as a safer storage area. If made for investment purposes, the bank is less attractive because the results are small.
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Crypt may be able to change the prospect and thought of the banking system.
However, I'm still doubtful if the bank will be less attractive in the near future. Because we still really need the banking system in our daily activities and cash out.
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Yes, i think things have changed over the years, and the enthusiasm about digital coins is much stronger today.
Most people tend to view Crypto this way, as they are desperate to take a step away from the banks, which are becoming more and more powerful, while they can do whatever they want with everyone's money. Meanwhile, Bitcoin/Altcoins provides people with the ability to own their own funds, and do with them what they want while keeping their privacy.
Again, Crypto is actually seen as a better asset to invest in, as it is a private market, which cannot be controlled by governments or banks. Further, many Crypto are capped, and there can only be a certain amount of most of them, ever.
I have come to a conclusion, though its my opinion, that people are simply looking for a way to get their money out of the bank and be free to do what they want with it. Banks introduced limits and control, which is something that people are simply not comfortable with.
Now, do you think that Banks may be less attractive or may be completely obsolete in the near future? Your thoughts.
Yes, I think the reason why bank and government against cryptocurrency. because crypto will make bank less attractive
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It is unlikely that banks will lose something noticeably due to the fact that people will start massively switching to the use of cryptocurrency. They will lose some of their customers, but they will provide other services such as exchanging cryptocurrency for fiat and this will bring them additional profit. In general, banks will continue to exist in their normal mode.
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It is unlikely that banks will lose something noticeably due to the fact that people will start massively switching to the use of cryptocurrency. They will lose some of their customers, but they will provide other services such as exchanging cryptocurrency for fiat and this will bring them additional profit. In general, banks will continue to exist in their normal mode.
Lose some of the customer? I think the safest to keep you're money is still from bank. I like crypto but no offense if you preferred your fiat money turn into crypto then be my guess. Not every aspect in life can accept crypto like services. I kniw how convenient for transaction is crypto. But the fact that it isn't centralized still some people will not accept it.
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Yes of course.
The reason why most bank customers are still stuck with banks is because they have no other alternative means of saving or transacting using money.
So I believe banks will be less attractive once cryptocurrency attains mainstream adoption.
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~snip~ So I believe banks will be less attractive once cryptocurrency attains mainstream adoption.
I don't think so. Even if crypto has been adopted massively, people still need fiat or real money as well. I think crypto adoption should not kill the banks or make it less attractive. The banks will be always needed as their crucial functions in a country.
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I don't think so. Banks still hold the best ways to make financial systems in some countries. Probably it may happen to some certain countries, but mostly not. We will still need to use bank systems in order to cash out and also use as daily utility.
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I think in the future the Bank will also use the blockchain system so that it will not be left behind by technological advances,
but if the bank will be forgotten I don't think it's possible because we need to make fiat money a bank account to transact
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Most likely it will lead to this, because cryptocurrencies will soon be regulated by governments and more people will begin to trust cryptocurrencies and many people will lose interest to banks.
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Yes for sure, banks will be not good in the future since most of the curriencies will be digital, another pros for crypto is there will be no more taxes to paid for , and you can withdraw whenever you like and whenerver you go as long as you have internet unlike banks that you need to withdraw it physically .
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We all knows regarding regulating crypto in our government which is not easy to transact due decentralized of it. So with the help of bank we can still make money by converting crypto into fiat. In near future bank will still exist as crypto will get innovated.