Banks are way too analogy?

[faceless 296]

Banks have very poor technological means that they use to run their services, like the fact that you have to stand in a fallen to pay for bills school fees etc. It has been years since the establishment of banks and still there is very poor advancements.

 

While Bitcoin Bitcoin has only been around for 10 years and it has already changed the lives of people and threatened the very presence of banks.

 

Why do you still believe in these banks? they have nothing to offer anymore.

 

 

[PiroSense 2681]

6 hours ago, faceless said:

Why do you still believe in these banks?

Banks are different than of fiat and cryptocurrecies. What's good about banks is that you're backed by government fiat, and in addition by the company the bank is under. Whatever happens to your money that is not your fault, would be their liability. It's generally much safer than storing your hardworked funds just to lose value on cryptocurrency that is backed by nothing.

[Keith700 1885]

12 hours ago, faceless said:

Banks have very poor technological means that they use to run their services, like the fact that you have to stand in a fallen to pay for bills school fees etc. It has been years since the establishment of banks and still there is very poor advancements.

 

While Bitcoin Bitcoin has only been around for 10 years and it has already changed the lives of people and threatened the very presence of banks.

 

Why do you still believe in these banks? they have nothing to offer anymore.

 

 

I believe that banks at some level remain spectators of people's needs since many individuals are codependents of banking entities, banks use the tools in their favor creating a kind of vicious analogy or spiral, duly said here but they do not obvious in their most common practices.

[AL SHAIMON 1293]

Banks are using old technology. But bitcoin and blockchain are new technology banks should use them. If they use bitcoin and blockchain it will be very easy for us to use.    

[faceless 296]

18 hours ago, Keith700 said:

I believe that banks at some level remain spectators of people's needs since many individuals are codependents of banking entities, banks use the tools in their favor creating a kind of vicious analogy or spiral, duly said here but they do not obvious in their most common practices.

But [people  are switching to the digital life, if banks does not change their services from been very analogy and paperwork kind, people are going to ditch banks, and that's where crypto comes in.

[faceless 296]

On 11/22/2019 at 6:58 PM, PiroSense said:

Banks are different than of fiat and cryptocurrecies. What's good about banks is that you're backed by government fiat, and in addition by the company the bank is under. Whatever happens to your money that is not your fault, would be their liability. It's generally much safer than storing your hardworked funds just to lose value on cryptocurrency that is backed by nothing.

I understand what you're saying and just losing money when price goes down, but also one could lose his password or backup phrase, but then people needs full control of their money.

[TimopheyKa 3900]

Cryptocurrencies have greatly influenced banks, because the state can no longer track the transfers of various people, actions. Take interest from them. This is quite good, also everything is perfectly replaced by a digital currency, but whatever it was, the usual currency will always be

[pangitmo 186]

On 11/22/2019 at 5:28 PM, kusvuw10 said:

It is not really so, cryptocurrencies can develop but not yet replace paper money, and cryptocurrencies cannot threaten the presence of banks.

Yes, i don't think cryptocurrencies will turn into paper money. Cryptocurrencies will only be digital.

[faceless 296]

21 hours ago, KamalBD said:

Bank is related to money in the same way as transport is related to. Analogy is an important topic in the bank exam. This topic belong to the reasoning. use money not physics to introduced. 

Maybe it is because I'm not native, but the analogy i was talking about is analogy technology the primitive technology

[faceless 296]

53 minutes ago, hellelali said:

I think so the bankes is not kipping up the revolution of crypto currency transaction. This is about me is a big obstacles for banks to keep up the new way to payments or baying selling. 

Even when banks get their hands on a good tech advancement it can not overcome crypto and it will be too late, we're heading at the extinction of banks.

[faceless 296]

23 hours ago, HotShot said:

I really don't think so. Cause banks have been in our life from the beginning! and i think banks are more safe to keep the paper money! You can never trust an online bank more than a real bank. can you? so exactly that way banks are better to keep money than keeping the money on online wallets! but in some cases banks really don't help us and i agree with that!

Yeah you're probably right, i mean what if the internet got shut down, but still we must agree that banks have very poor tech.

[Afrizal rahman 2636]

Maybe some people are not familiar with bitcoin so they are still happy in the world of banks that are just like that. but I think in the future when bitcoin is bright they will switch here. maybe the bank will also be threatened by its existence.

[CryptoBoy20 170]

We can't compare banking system to a decentralized currency. Banks are way too analogy but bank is the most safest place to store our asset. Bitcoin is too smart but we can't trust bitcoin because no one what will happen we can lost our money at any time. I'm talking about bitcoin market price which is too much risky so we shouldn't compare bitcoin to banking system.

[Lubruselu 2803]

Currently we can say the physical banks they are analogies that's why nowadays there have online fiat money banks apart from crypto wallets.

[duncun007 3577]

On 11/22/2019 at 12:22 PM, faceless said:

Banks have very poor technological means that they use to run their services, like the fact that you have to stand in a fallen to pay for bills school fees etc. It has been years since the establishment of banks and still there is very poor advancements.

 

While Bitcoin Bitcoin has only been around for 10 years and it has already changed the lives of people and threatened the very presence of banks.

 

Why do you still believe in these banks? they have nothing to offer anymore.

 

 

its a bold statement to say banks has nothing to offer anymore because theyre still holding and controlling the money all over the world and if one banks went bankrupt it would trigger another 2008 market crash again.

[fuer44 1083]

On 11/22/2019 at 4:22 PM, faceless said:

Banks have very poor technological means that they use to run their services, like the fact that you have to stand in a fallen to pay for bills school fees etc. It has been years since the establishment of banks and still there is very poor advancements.

 

While Bitcoin Bitcoin has only been around for 10 years and it has already changed the lives of people and threatened the very presence of banks.

 

Why do you still believe in these banks? they have nothing to offer anymore.

 

 

that is exactly how banks, accept deposits and loans. now there is also E-banking which we can also do on mobile or PC. so far that's only the development of the bank from the past until now. if we see from the value side, crypto is far more profitable because the value of our assets can grow and develop.

[bliznec 22268]

I don’t understand why Bitcoin banks, if many traders and investors make a profit without banks. Of course, bitcoin has changed and even improved the lives of many people who believe in cryptocurrency. 

[Migo 7946]

Yes you are right about the development of bitcoin, but he will not replace the banking system, I don't think so, in the future I guess everything is going to get a specific place and with a specific plan 

[Naylor89 1223]

Maybe those who believe in cryptocurrency will assume that the bank will be defeated by the cryptocurrency, but with the support of the government, the bank has a strong foundation to survive.

[Thekingcallme 1975]

I have never dealt with a bank and will not deal with banks for good
Especially after she knew Bitcoin and its miraculous features

[Jimmy 437]

It is true that banks have poor technology compared to current blockchain technology but we cannot leave the bank for now directly. Almost all transactions in the world today require banks and I think we have to wait a few years to adopt crypto.

[fo1lluko1l 487]

I agree with the author, now banks are somehow trying to grab hold of cryptocurrencies and create their own coins, which so far they do not really succeed.

[guatazoo 7150]

I agree with your statement, banks means of workog are very primitive, stating with the ATM feature, why not just be able to buy stuffs directly with your account than using ATM t cash out first?

[vivek sharma 34]

I think banks are really in fear that if digital currency is accepted as the mode of payment the countries in legal way then there is no need of any banks in the world. 

[febriyana 934]

I think bank have good side and bad side if comparing with cryptocurrency.

Good side we still need them, because fiat is still used and will not replaced.

Fiat is backup by Federal Reserve, they are boss of banker. So they will not let your crypto will be used worldwide.

With bank we can withdraw and deposit money. The bad side is bank still have using old system where they create money with fractional reserve, where they can create money from air, make new debt, and make inflation going up every year.