Crypto vs Banks

[Zentoly 419]

1 minute ago, amies856 said:

Bitcoin ATMs are really providing good service. But i think the main problem is the high amount of fees which make many users unsatisfied. Also there are not enough ATM machines so it is hard to locate nearest one.

Yeah threre are mnay people who can not afford the high fees of transaction but i think they do not to fees their self unsatisfied all things will be ok very soon.

[bestprofi 372]

4 hours ago, Yawar said:

The value of bitcoins can't be denied. The future demand a currency which is totally free from political and government influence. The demand of bitcoins and other altcoins is growing day by day. Am very positive about the future of crypto.

Unfortunately, optimism has nothing to do with realism. We are all optimistic about cryptocurrencies, but these cryptocurrencies have no value without the enthusiasm of the owners. If there is a regulation that will reduce the use of cryptocurrencies and the vast majority sell cryptocurrencies and exit the market, the coins will be worthless or of very little value.

[marksm357 5]

Yes i can understand your concerns and not every store is accepting bitcoin and i am of the opinion that we need a combination of the banking structure as well as the crypto market, government banning bitcoin is one thing and i bet you will be still trading bitcoin as no government can completely ban a decentralized currency like bitcoin and so is the reason developed countries are yet to take any drastic steps.

[sunny1441 1]

Once the Incomes are being earned in Cryptocurrencies this would mean that even the retail expenses will also be done in Cryptocurrencies and only then we can imagine a life without banks otherwise as of now there is certainly no way this is happening because purchasing Cryptocurrencies itself involved buying it from transfers of Bank.

[duncun007 3577]

9 hours ago, Luna disari said:

now people are thinking,if i would buy bitcoin in starting pricing!  and they are withdrawing funds from bank and investing in bitcoin. so, bitcoin is winning

Well that what scared banks and governments at the start because of people withdrawing money from.banks and invest it in crypto and a lot of people lose money In crypro and government think this will weaken their economy.

[camren653489 57]

Most of us would say it would be good, but we will never know once where already in that situation. Have you ever thought how are economy would be if our currency will be volatile since it is crypto. Or if that point comes, and crypto will be stable since it is the main currency, will people still enjoy crypto as it is today?

[duncun007 3577]

10 minutes ago, Maricem said:

Banks are now scarred about cryptocurrencies. People leaving from banks and entering in crypto world. so crypto is winning in this war!

Yes which is why countries nowadays prohibit the use of crypto in general and they're trying to stop investors from going to crypto and try to convince them to stay with banks.

[Nicecrypto 543]

3 minutes ago, duncun007 said:

Yes which is why countries nowadays prohibit the use of crypto in general and they're trying to stop investors from going to crypto and try to convince them to stay with banks.

For now I think this is more pronounced in some countries while in others the banks are not too much in any form of fear per say because, there are no investment and businesses that accept direct crypto payments at the moment and all crypto transactions still withdraws through the bank.

Maybe untill this is changed, the bank's might begin to feel that fear of lossing customers to crypto trading transactions.

[duncun007 3577]

5 minutes ago, Nicecrypto said:

For now I think this is more pronounced in some countries while in others the banks are not too much in any form of fear per say because, there are no investment and businesses that accept direct crypto payments at the moment and all crypto transactions still withdraws through the bank.

Maybe untill this is changed, the bank's might begin to feel that fear of lossing customers to crypto trading transactions.

Those banks you talk about They're safe from crypto because their customers aren't even interested in buying it or even know about it..for now...but later on as awareness spread about crypto people will join in more and more.

[scorpiali 5626]

We leave Bank because there is Bitcoin that why there is a cold war between bank and Crypto in general,and if i should choose i will go forward with Bitcoin

Edited November 8, 2019 by scorpiali

[shanno4312 12]

First of all living without having a connection in any bank seems impossible especially living in this era. Using only a crypocurriencies upon making a transaction seems also impossoble because majority of the market whether it is online or not they aren't ready yet to accept this type of currencies and one of the reason is that government restrict this currency.

[athena98q89 1]

True statement.  The problem is that nobody is really using bitcoin as money, and there certainly aren't many using it for their day to day expenses.  Adoption is still minimal, so we're not seeing many merchants accepting it as payment.  Until that happens people are still going to be anchored to their bank accounts and nothing will change.

[PiroSense 2681]

Depends on a lot of factors, such as possible future government restrictions, Bitcoin under 51% attack, or even shifted attention of the people from Bitcoin to other new framework or cryptocurrency (for instance, gold-backed cryptocurrency from China), drops in hash rate (because more than half of the network relies and is based on China), or Bitcoin losing popularity because it lacks asset to back it up and only trust drives its price up.

[miran523 70]

While it is good to imagined the no line transactions, cashing out in ATM that are sometimes offline or no money in it. It might be hard to do it also thru cryptocurrency alone. The fact that Internet is need to do transactions and no machines or government is too poor to provide nationwide Internet or machines will really hinder the transactions. Its good to still have banks for options. We can't only operate thru cryptocurrency alone yet.

[Tine0313 3053]

Well for me crypto are much better than banks because in crypto, you can store it in your online wallet and have an easy access to it while in banks you need your money to tax according to the laws of your country.

[duncun007 3577]

5 hours ago, Diana said:

In these days I think that bank wins over bitcoin. I believe it because there's a lot of country that banning bitcoin now. But still I believe that bitcoin will still fighting to win over it. I honestly wan bitcoin because it has a lot of benefits in every people that using it. I hope that someday bitcoin will be accepted in many countries and the government will approve it.

Banning bitcoin is something that will eventually stop because they can't actually stop the wave of crypto because its too strong and have increasing liquidity every year.

[duncun007 3577]

48 minutes ago, lovesybitz said:

Bitcoin in the first place was not designed to destroy banks or any business sectors. Just all I know is that Bitcoin is much more safer than bank, but it doesn't mean bank will be destroy, of course not! it is only in the discretion of the individual bank holder if they want to pull out their savings in bank or not.

The aim indeed wasn't destroying banks or anything but its how the media made it look like. I remember during the bull run of 2017 banks employees were rioting because they want bit coin to be stopped in america because they understand how its a threat to them.

[duncun007 3577]

2 minutes ago, cgard114 said:

For me, I think Bitcoin will win between the two because, the number of crypto currency users are steadily growing around the world, and soon in the future little by little all of them might accept it.

Yes my friend the number is growing and its whats worrying the banks and the government of their local currency collapsing over it because investors will be heading to crypto rather than banks.

[kurt777 839]

I think it is controlled by those who control the Central banks! And their plan is for all people to use bitcoin!

[Great Commander 659]

Decentralized and centralized systems are complely different. Bitcoin transactions goes to ledgers and blocks before finally sent to target user and will be transparent upon registering to blockchain network. Banks are more of direct deposit and withdrawals with the user as the admin and has access to his account. 

[husta5 13]

Crypto currency investers & developing teams should start a real bank to compete the old banking system. I'd personally prefer to see a bank such as "Ethereum Bank" on every town/city around the world.

[jimmy521 7]

I think it would be nice if we could use crypto for daily needs. unfortunately in my country and most countries in Asia are not able to use crypto for everyday payment. we have to exchange crypto money for fiat money. and banks will always be there and needed because banks are a government tool to control the economy and also a tool to receive taxes. so I think the use of crypto for daily needs will be difficult to realize.

[shanno4312 12]

If its about money laundering or criminal activity, paper money can used for that. Bank and government afraid on cryptocurrency because they can not controll the supply and the price. For banks, bitcoin is a threat because peoples can open wallet as they like and dont need banks for transaction when using bitcoin and its saving a lot cost

[Rashel 139]

I think that banks are going to adopt blockchain technology keeping on enormous technology explosion . But governments have to develop their selves . 

[IrinaLavrinova 365]

The criticism of banks that refer to the possibility of using cryptocurrencies in money laundering looks especially ironic, since the banks themselves regularly pay a lot of money in order to hush up another charge of money laundering or other financial crimes.