Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Domithra on February 23, 2018, 04:58:01 AM
-
The government is overwhelmed with the massive turnout of the patronage of BTC and crytocurrency in general. Its decentralization scares them the most. Do you think Bitcoin will affect the banking systems adversely some time to come?
-
I dont think so because that banks are compete with new generations we dont know they will accept digital currencies too so we will not understimate that banks not accepting cryptos because they will change too and upgrade.
-
in my opinion will not go forward, because bitcoin is not a currency, they are just objects that have money
-
I dont think so :(
-
Taking into consideration how fast popularity of cryptocurriency has grown I think it`s possible
-
The government is overwhelmed with the massive turnout of the patronage of BTC and crytocurrency in general. Its decentralization scares them the most. Do you think Bitcoin will affect the banking systems adversely some time to come?
I don't think so, that it'll affect the banks, since some of the banks are adopting/accepting BTC so for me it will not affect the banks. One should adopt, and that is the bank. Since BTC will grow more in the next few years.
-
I don't think so . Gov control bank other hand bitcoin cannot be control by government or group.
-
some banks maybe but not all because banks will find way also on how will they keep their investors stick to them bitcoins decentralized is one of the banks need to defeat so their investors would still invest to them
-
Yes, of course.
because today many world banks are using bitcoin blockchain technology.
so there will be an effect to the bank be it a positive or negative effect.
but in my opinion there will be a positive effect given bitcoin for world banking.
-
the effect of crypto for banks is huge because everyone will invest in the crypto and start forgetting the bank as a money store. and the bank will experience crisis for the customer's funds.
-
Bitcoin is already affecting banks inversely in my opinion. I also think that banking institutions are the ones behind all these negative news about bitcoin. But they are smart, since they can't stop it, they are now adapting it.
-
I think that bitcoin already has an impact on banks, and in the future, when it is received, it will become antiques, and will be sold at auctions.
-
The government is overwhelmed with the massive turnout of the patronage of BTC and crytocurrency in general. Its decentralization scares them the most. Do you think Bitcoin will affect the banking systems adversely some time to come?
I think is no, because all of banks is not accepting any coins or token of cryptocurrency the reason is they fear of hacking there system in lossing all of everything they can.
-
well yes. Bitcoin is going to affect the banks massively in the future if they do not put measures in place to also run digitally. The question now is how is it going to affect the banks. Banks serve as central servers for payments and transactions that are made with the use of fiat currencies but the loop hole with bitcoins is that it is a digital currency and does not need the function of any central servers to make transaction go on. The situation right now is that most people don't have any idea about bitcoins or any other altcoins and how they work. the great news is that a new and wonderful project is going to solve the problem of inadequate knowledge in cryptocurrencies. Visit ubanx.io for further information into this project. When bitcoin is finally accepted globally and legally there will a\be no much use of banks which will lead to the collapse of several of them. This is the threat digital currencies pose to the central banks. with all these in mind i still love to operate with digital currencies.
-
So far bitcoin now affected banks already. If we observe some banks in our country specially the country who recognised bitcoin they do something new to reach the new money system in order to have additional or possibly more profit in the future. They do hard work to promote that this particular banks accept crypto coins so everyone is invited to try the new service. Some banks are alarm. It means bitcoin affected banks already.
-
Well, banks are smart. I think some banks will find a way to incorporate cryptocurrencies in their system.
-
Sure. Bitcoin will significantly affect the growth of the banking sector. Bitcoin is a major antagonist to banks and their increasingly patronage is a potential threat to the banks and that is why the banks are strongly against it
-
Bitcoin will change the world so, banks too ;D
Maybe in 5 years we will see a world deeply transformed when we can buy pizza with many crypto 8)
The world is on the move, i hope poeple accept this changement with time.
-
All great stuff, but what impact will Bitcoin have on the banking industry? The Swift Institute concludes in its report that, while the currency is still in its infancy and not ubiquitous enough to be a threat to existing monetary models, there is scope for disruption in the future.
“If the acceptance of Bitcoin or similar virtual currencies increased significantly on a global level, it could affect the behaviour of consumers and producers and as a consequence change the relevance of monetary policy,” says the report, adding that “given Bitcoin’s global decentralized nature and independence from any central bank or supranational authority, regulatory oversight may be difficult and challenging.”
It is certainly an intriguing proposition. But what is becoming increasingly apparent is not so much the value of the currency, but the value of the underlying technology - the blockchain.
“In today’s banking world, it is all about cost savings, as they are all struggling with low returns and that is why they are all locking on to the blockchain,” says Richard Lumb, head of financial services at Accenture.
-
No, it won't
The bank should rather embrace this because this is all about the future
And there a change in the way of trading and keeping money
So why don't join forces with btc
-
With the low returns the banks gives is better they embrace btc, without that then wikk be affected
-
Definitively Blockchain technology will affect banks, some of them are already partners of Ripple or Ethereum, others are currently developing their own blockchain.
It's only a matter of time, but the revolution is under way
-
The government is overwhelmed with the massive turnout of the patronage of BTC and crytocurrency in general. Its decentralization scares them the most. Do you think Bitcoin will affect the banking systems adversely some time to come?
Yes it will. And I think even now btc already affected the bank when it comes to the number of investors. Since then people love to put their money in a bank thinking that it will be safe to be there, and while their money is in their the bank are using it to invest in some businesses but the money of a person didn't grow as if it is just sleeping waiting for someone to awaken it. Until bitcoin was discovered and from making investment on it promised you to earn big and if possible more than than what you have invested. And this kind of bitcoin ability scares the banks because it can possibly lose their investors, thus such kind of system from bitcoin affect already the banks.
-
Currently the effect of bitcoin in banks are already experience. There are kinds of banks that accepted the well known bitcoin. They knew already about bitcoin as virtual currency that could be the possible future era of transactions in the world.
-
The government is overwhelmed with the massive turnout of the patronage of BTC and crytocurrency in general. Its decentralization scares them the most. Do you think Bitcoin will affect the banking systems adversely some time to come?
Honestly, I am waiting for such a period where Bitcoin will be accepted for both major and trivial transactions in my country and I won't have to hold fiat money and deal with banks again. This will surely affect the banks as patronage of their services will decrease and that's what many of us Crypto enthusiasts wish for.
-
Banks will find a way to get heavily involved in the crypto world if they will have no choice.
Depends what the crypto future holds, specially with regulations coming in July.
-
Currently banks are very strong and can easily take down the cryptos if they want to. Because the crypto market is relatively 200 times smaller. But if this rate increases in the coming years, then there may be a serious danger to the banks.
-
Currently banks are very strong and can easily take down the cryptos if they want to. Because the crypto market is relatively 200 times smaller. But if this rate increases in the coming years, then there may be a serious danger to the banks.
I agree, banks are very strong but they are now affected because cryptos are now slowly competing their clients.
-
Crypto-currency generally selects their customers from bankers, and along with them a part of their profits, however, the bitcoins and other crypto-currencies will not affect the banks somehow. In the future, banks and Crypto-currency will be forced to exist and work together.
-
I dont think so. I think the banks operate with different currencies
-
I dont think so because that banks are compete with new generations we dont know they will accept digital currencies too so we will not understimate that banks not accepting cryptos because they will change too and upgrade.
-
Most probably bitcoin will affect bitcoin. Bitcoin will not grab the opportunity to come in to the banks but banks will do that. My prediction of the future people from different places will have bitcoin accounts than banks account. So banks will court bitcoin people to enter their boundaries in order to cater the crypto people and the simple.
-
I think the Bank will continue to stand because the Bank functions with its centralized nature.
in contrast to cryptocurrency whose nature is not centralized.
Banks have also been tested for hundreds of years to become state servants, while cryptocurrency has just emerged in 2009.
-
The government is overwhelmed with the massive turnout of the patronage of BTC and crytocurrency in general. Its decentralization scares them the most. Do you think Bitcoin will affect the banking systems adversely some time to come?
I think It is possible. Because bitcoin is the future currency, Bitcoin will affect banks in the future.
-
Well yes, i see that happening
Imagine an individual having control over his or her investment without third party involvement that makes digital banking easy, right? With bitcoin or blockcain one gets huge profit after investment as compared to banks. So the bank is definitely going to be affected in the future.
-
The government is overwhelmed with the massive turnout of the patronage of BTC and crytocurrency in general. Its decentralization scares them the most. Do you think Bitcoin will affect the banking systems adversely some time to come?
Certain influence bitcoin, of course, on the banking system will. Even not so bitcoin itself, as the entire crypto currency in general. However, this influence will not be significant. Banks will accept the Crypto currency as much as they deem necessary. After the legalization of the crypto currency, the banks will provide services for its exchange, but they will not accept deposits in the crypto currency or give out loans in it, since these will be very risky operations for them.
-
I think it would indeed be a little screwed up the banking system because of the nature of the bitcoin and banking that are inconsistent. whereas the development of the bitcoin is inevitable. for that banking have to think about that kind of thing start today.
-
Probably because banks won't do its own part if crypto will massively welcome around the world. Banks cannot do anything to eliminate crypto but they shoulders ride with the flow. Bitcoin is the major coin that can affect every single transaction with rewards to fiat system into crypto.
-
I don't think so. because banks have yet to receive digital currencies like Crypto. that is why there is no effect in the bank. banks only manage Real money and other accounts. this is very far from your estimate.
-
indeed bitcoin can affect banks in general, many are interested in bitcoin or coin and prefer to save and invest coins rather than save in a bank, this is a very fast development in the future .
-
Bitcoin will have a big effect on banks because of the revenues that's why many government wants ti banned Bitcoin.But there already some countries that Bitcoin were already accepted.
-
actually it only affects 50%, due to the many coin enthusiasts, investments and save from saving, then at that time the bank will also serve and save the coins too, then at that time the prices were very good and there were lots of supporters everywhere ..
-
of course, this will give an impact on banking. because as it has been known that bitcoin increasingly growing and increasingly sought after. If the bank is still stiff against bitcoin then may the bank will lose competitiveness and lonely clients.
-
The government is overwhelmed with the massive turnout of the patronage of BTC and crytocurrency in general. Its decentralization scares them the most. Do you think Bitcoin will affect the banking systems adversely some time to come?
Yes I think Bitcoin will go to affect banks in the future. I believe it. Bitcoin will be dominate at the coming future.
-
The government is overwhelmed with the massive turnout of the patronage of BTC and crytocurrency in general. Its decentralization scares them the most. Do you think Bitcoin will affect the banking systems adversely some time to come?
The impact of bitcoin and other crypto currency on the banking system will be minimal. Decentralized crypto currency will lead to a decrease in the profits of bankers, because they partially take away clients from them, however, this will have little impact on the banking system itself. Banks are in fact now part of the state system, and therefore their existence is not threatened. In addition, they perform a lot of various specific functions that can not perform crypto currency.
-
The government is overwhelmed with the massive turnout of the patronage of BTC and crytocurrency in general. Its decentralization scares them the most. Do you think Bitcoin will affect the banking systems adversely some time to come?
Yes I think It will happen.Bitcoin wilk affect the banking systems at the coming future.
-
I think yes, Some people and organization trying to regulate bitcoin now but I don't think they can do that. Also I think sooner or later bitcoin will be accepted by bank as their payment too. There's alot of advantages they can use bitcoin but there's also some disadvantage like they can't put a tax to bitcoin user.
-
bitcoin will not affect banks in the future, instead, banks will join in developing bitcoin, and both will advance ..
-
The government is overwhelmed with the massive turnout of the patronage of BTC and crytocurrency in general. Its decentralization scares them the most. Do you think Bitcoin will affect the banking systems adversely some time to come?
In my opinion the banks should accepts or create crypto because It is the future technology. I think Bitcoin will affect the banks at the future.
-
Certain influence bitcoin on the banks, of course, will. However, such influence will not be significant. Bitcoin can not take on any functions of banks or replace their existence. Bitcoin just can not do it. Banks will provide services for the exchange of crypto currency after the legalization of the crypto currency by the states. They can also open bank accounts in crypto currency for individuals and legal entities whose activities will be related to the crypto currency. However, banks will not accept the crypto currency for depositary storage or issue loans in the crypto currency, because it will be too risky for banks.
-
The government is overwhelmed with the massive turnout of the patronage of BTC and crytocurrency in general. Its decentralization scares them the most. Do you think Bitcoin will affect the banking systems adversely some time to come?
I think it will not because majority of the banks have supported Bitcoin existence like in those countries that declared Bitcoin as legal. Even in some countries that Bitcoin is not legal but not ban like here in our country in which our Central bank is supporting Bitcoin that majority of our leading banks are in partnership with our local exchanges then we could use the banks facilities during fiat withdrawals.
-
The government is overwhelmed with the massive turnout of the patronage of BTC and crytocurrency in general. Its decentralization scares them the most. Do you think Bitcoin will affect the banking systems adversely some time to come?
Yes I think At the coming future, Bitcoin will affect the bank. Bitcoin will dominate and will be needed.
-
There may be a slight effect from Bitcoin on the Bank, as is the lack of trust to save money at the Bank and it is better to save money on cryptocurrency.
The second is that Cryptocurrency and the Bank will work side by side because cryptocurrency also needs a Bank to disburse funds to FIAT.
-
yes it's true that bitcoin can greatly affect banks, because bitcoin is a decentralized system that doesn't need a third party.
-
The government is overwhelmed with the massive turnout of the patronage of BTC and crytocurrency in general. Its decentralization scares them the most. Do you think Bitcoin will affect the banking systems adversely some time to come?
Maybe at the future It will happen , Bitcoin affect the bank when the bitcoin is more stable and more popular.
-
Yeah when that time comes we will see the effect of it to the banks because like other of us said bitcoin is decentralized and there's no really way that they can control or manage it.
-
maybe now the existence of bitcoin has a pretty bad impact on the bank, but both are able to go hand in hand and not drop each other ..
-
Maybe yes maybe not but one thing is for sure, there are banks that are afraid of that might be happen in the future because there are countries that bitcoin or this kind of digital currency was banned because of that rumors that keep on spreading out into their countries.
-
maybe only one or two banks because it is impossible for all bank banks not to accept coins or cryptocurrency tokens the reason is they are afraid of system hacking. lose their money.
-
The government is overwhelmed with the massive turnout of the patronage of BTC and crytocurrency in general. Its decentralization scares them the most. Do you think Bitcoin will affect the banking systems adversely some time to come?
Such an influence will be minimal. Decentralized crypto currency can not significantly affect the working banking system. Banks will always work in their usual regime and will always be under strict state protection.
-
Yes, it might happen when seen from the time of bitcoin, it shows that there are more enthusiasts who might affect the banking system.
-
The government is overwhelmed with the massive turnout of the patronage of BTC and crytocurrency in general. Its decentralization scares them the most. Do you think Bitcoin will affect the banking systems adversely some time to come?
Yes I think It is possible. Bitcoin will affect the banks in the future. Bitcoin will be more potential and more dominate at the future. It is the reason why.
-
Yes Bitcoin is going to affect Banks in the future. There will come a time that banks will have to create their own crypto currencies so as to survive
-
Bitcoin is not able to significantly affect the work of banks. After its legalization, banks will provide services for its exchange for another crypto currency or fiat. It is unlikely that banks will perform any other financial operations with bitcoin.
-
yes i think so possible will happen bitcoin affect banking system , remember bitcoin continue it's popularity in business community support this method of transaction. time comes crypto money dominates all currency and banking system focused there operations in btc
-
I also think like that, that the development of bitcoin will greatly affect the bank. because more and more people are using Bitcoin and Cryptocurreny, the bank's function will be reduced, because many bank customers are using bitcoin. So that they no longer depend on the Bank.