I'm really looking forward to not needing my bank at all. Just the other day, I tried to send that they call a "Quick Pay" to someone. It's a feature they offer that allows you to send money to someone instantly. Except it's not so instantly. As soon as I pressed "submit," I received a message saying it required additional review. On the 4th of July. In person. When banks were closed. So dumb. Today, I had to go into the bank and show two forms of ID and they had to call someone by phone from within the bank who then asked to speak to me. They asked me if I knew the person I was sending the money to. (He is a friend, so yes.) I was like, "no, I don't know the person I'm sending money to, I'm just feeling generous." Then they asked me if I planned on sending money to this person again. At this point, I was like, "listen, I've been banking with you for 30 years, I'm sitting in your branch, the teller has known me for 10 years...do I really need to ask your permission to send someone MY money and do I need to tell if I'm going to send them money again???!! No."
How do you think cryptocurrency will change banks in the short-term and how long before some of them go out of business?
First of all I hate banks,but still they are indeed to make transaction to somewhere so they still have support in all over the place.But now a days we really no need to go to banks everything can be done in online maybe your bank service not yet updated to the modern days.Still the fact is we are not holding our money the banks are holding our money and we are asking permission from someone to send our money totally idiotic thing right.That is why the decentralized bitcoin was made but people think it as an investment not as normal currency.There is no exact answer but we no need banks anymore if the people think bitcoin is the currency.