Altcoins Talks - Cryptocurrency Forum

Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Rabia on August 27, 2018, 03:16:38 PM

Title: Bitcoin Vs Fiat currency and development requirements
Post by: Rabia on August 27, 2018, 03:16:38 PM

Here at the  bitcoin most of the members are supporters of bitcoin.  It is true that bitcoin is much better option facilitating our transaction needs.
But if there is no fiat currency ; then there will not be any banking system.  There will not be any depositors.  Without depositors Banks will be having no funds to lend to the needy entrepreneurs. 
So how the developmental works like installation of factories, institutions will be done because no individuals will be able to  run businesses. 
Big business houses will though be able to raise funds through ICOs but what about medium and small businesses.

Title: Re: Bitcoin Vs Fiat currency and development requirements
Post by: Alcor on August 28, 2018, 10:50:02 PM

Crypto currency and ordinary currency, it is accomplished different types of currencies, which will develop in parallel with each other and have little effect on each other. Therefore, cash and non-cash ordinary money will continue to exist, and so banks will work without problems and their normal regime. With the increased role of crypto currency in the society, this will not significantly affect banks.