Quote from: GreatArkansas on February 08, 2020, 03:09:46 AM

Quote from: Darker45 on February 08, 2020, 02:00:45 AM

Quote from: btcpepa04 on February 08, 2020, 12:43:58 AM

Hello! What's your opinion could BTC kill banking system? Bitcoin has an advantage over fiatbecause its amount is limited and it can't fall under inflation.Inflation usually is caused by monetary policies of our central banks. Bitcoin is free from inflation, governement control and high transaction fees.Banks cant control BTC because it has no representative and is fully decentralized. That's why banks are afraid of BTC.

It might kill the old banking system if it does not bend to suit the call of the times. However, it seems that the banks are fully aware that the technology brought by Bitcoin is the future and they are now making adjustments.
(.....)

This is also on my thoughts.
Although we all know that Bitcoin has something that banks don't have and has more advantages compare on using banks.
What I am worried about sooner or later is what if banks will start to use some cryptocurrency or some blockchain technology to rework or change their banking system or even they will use Bitcoins. I don't think if that is good or bad for Bitcoin. But even if that will happen, Bitcoin will go nowhere and will stay forever.

If banks shift to blockchain and Bitcoin, that would be a good scenario. But I don't think banks are still needed with Bitcoin as far as its role as a safe storage of money is concerned. Bitcoin is like a package of things, all in one. It is a currency, a payment system, a bank, and even a banking system. However, if banks will stick on keeping the savings of people with matching insurance and interest in terms of Bitcoin, that sounds nice to me.

Quote from: Coolcryptovator on February 08, 2020, 06:54:54 AM

Quote from: btcpepa04 on February 08, 2020, 12:43:58 AM

Hello! What's your opinion could BTC kill banking system?

If physical money exist then bitcoin couldn't kill traditional banking system. And I believe it's not possible to exclude physical money from our life. I don't know what will happen after hundred years, but it's not possible in short period of time. Bank doesn't like bitcoin, but it doesn't mean they don't like blockchain technology. Perhaps once upon a time banks will start using blockchain ecosystem. Banks are worrying about decentralized system of bitcoin and they are more worried about volatility. That's why they are discourage to accept bitcoin as a payment methods.

The traditional banking system has already evolved. It does not depend on physical money alone. In fact, it has brought the system a notch higher in terms of modernity with its use of cards and online transactions. And now they are already entering the age of blockchain with a flexible approach.