Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Domithra on March 06, 2018, 05:49:15 AM
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With the emergence of financial technologies and models such as cryptocurrencies, peer-2-peer, etc, do you think the banks still have positions in the country?
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Banking will still be significant until cryptocurrencies can "stand on their own". currently, most cryptocurrencies become valuable only when they are exchanged into fiat, which is spendable.
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Majority of the people around the globe are using fiat so banks are still significant even in this bitcoin era.
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With the emergence of financial technologies and models such as cryptocurrencies, peer-2-peer, etc, do you think the banks still have positions in the country?
Yes of course bank still in there you cannot allow your money still in the internet you must withdraw it and put it on the bank just to be secure.
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yes i think so because many countries still not allowed bitcoin to be legalized so many countries still using banks even it is in bitcoin era china is one of a country does not allowed bitcoin to be legalized
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Currently, the banks are still significant because bitcoin has not been accepted legally by governments and it has also not gone fully global to every corner of the world. But i believe strongly a time is coming where bitcoin and its altcoins will take over the finances of the world. Technology is advancing at a faster rate and the benefits that it came with during our time is the blockchain technology. This technology does not need the interference of the central banks who act as servers when transactions are being made. When bitcoin finally takes over most banks who will not adopt the digital form of trading will close down most likely. But right now banks are needed since people still spend using fiat currency which the banks give but i believe bitcoin will take over some day and places like ubanx will be serving the purpose of the banks.
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In the next 10 years there will still be banks and they will all be involve in cryptocurrency. Fiat will not go away but it will loose its value overtime.