Is Bitcoin Rioting Banking Solution

[redpogi16]

I think bitcoin is becoming more and more succesfull. Bitcoin is also money but many believe that it was a scam. But if bitcoin become many people know about it will become very very succesfull.

 

[Erik4150]

I don't think it will be possible for bitcoin to replace banks. Fiat currency is still important and will remain relevant in every country because of its stability. Bitcoin cannot be fully trusted because of the fluctuating price.

 

[ansahweh]

Banking especially savings account has failed in its goals. I believe savings account should increase with time and not depreciate but the norm now is for banks to keep debiting cash from customers account in the name of service charge, etc. so customers deem it better to save via crypto and trade subsequently.

 

[Nomad]

Bitcoin, or any other crypto currency, cannot replace banks. Bitcoin has a lot of issues in terms of its usage, for example, transaction cost is high, transaction speed is low. At some point you still need cash.

 

[Yusuf]

The crypto currency exchange Business is already taking over the banking sector and you can store your money as an asset with value. With this invention, even if there is civil unrest in a country your money won't be affected in banks

 

[Alexandoy]

I don't think it will be possible for bitcoin to replace banks. Fiat currency is still important and will remain relevant in every country because of its stability. Bitcoin cannot be fully trusted because of the fluctuating price.

It really makes me wonder why so many lovers of crypto currency is still thinking that the crypto currency is a real currency that can replace the legal tender currency that we call money. It seems that they don't understand that the crypto coin is a commodity that is a digital commodity for trading.

 

[Elfinito]

I think individuals can save themselves from more economy unrest by engaging in crypto trading.
If you wait for the government to always make a move first then it may become even more dangerous

 

[Setho]

Bitcoin and other blockchain innovations are offering a very clear pattern to managing finance and it is also very sincere so it will not come as any surprise.

 

[Justin]

Bitcoin is certainly a thread to the existing banking system. When you can make your own money why would you use government money. Furthermore, you need to work hard to earn government's money but you can mine bitcoin

 

[Good-Person]

I do not think that Bitcoin is causing harm to the banking system at all. In fact, bitcoin could be used to improve the financial structure and banking system of a country. I think Bitcoin is a great way to allow people to bring foreign exchange in the country and this can potentially improve the economical conditions of the country a lot. I am not saying that Bitcoin will replace the banks, though.

 

[Thinker009]

Its the actual reason some of the banks are actually making move of banning the use of cryptocurrency , because they have seen that the emergence of Bitcoin is actually affecting the growth and development of the bank in so many ways ,that's why some don't want the use

 

[Sotherefore]

Bitcoins is not likely to replace the bank for any reason and people who believe in this really have to do their own personal research to be very sure of what they are believing.. cryptocurrency is just too volatile to be considered as a normal currency.

 

[Grandeur]

I do not think that banks can be completely wiped out as that is the surest way for the government to manipulate money which is why I think it's more about rallying the governments to adopt bitcoin than rallying to close down banks

 

[Ub40]

I am still of the opinion that bitcoin or any other crypto can not replace bank, but I think crypto transactions can be used for the mean time in a situation where there is either a war or turmoil in a particular country until the problem is resolved. That is just my opinion though.

 

[Bousine123]

Bitcoin investment is better than buying bank shares because it is easy to gain in bitcoin business than bank shares, secondly you are in charge of what you gain here than banks.

 

[HayKay]

Well it can since citizens would still be able to trade from anywhere they feel safe in the event of any unrest whatsoever. It'll also add an extra layer of universality and safety to transactions.

 

[tyrim88]

Bitcoin may not be replacing banks any time soon, but in countries where civil unrest and rioting banks are posing major threats to the economy, could bitcoin step in and help? Well, in both Chile and Lebanon, they seem to support its role as a valuable tool.

Here is why: https://bitcoinchaser.com/news/bitcoin-instead-of-banks-chile-lebanon

Do you think Bitcoin can save Lebanese or Chilean Citizens or is it too late?

What i have undrstood about the use of bitcoin as a means of confirming transaction and carrying out e-commerce trading,is that most country would not be relying on the platform for too long,because of the volatility of the coins.

 

[greenie]

Lots of people think bitcoin and cryptocurrencies could save this poor countries from bankruptcy but the problem is these countries are already in a horrible situation. They need to change the whole system, not just one thing

 

[tyrim88]

Bitcoin may not be replacing banks any time soon, but in countries where civil unrest and rioting banks are posing major threats to the economy, could bitcoin step in and help? Well, in both Chile and Lebanon, they seem to support its role as a valuable tool.

Here is why: https://bitcoinchaser.com/news/bitcoin-instead-of-banks-chile-lebanon

Do you think Bitcoin can save Lebanese or Chilean Citizens or is it too late?

On thing that I know most responsible government would not want to do at least on official bases,is to completely depend on the use of cryptocurrency as their main source of exchange,it could be catastrophic.

 

[Setho]

I believe that the two of them are actually two different kind of technologies and I know that in the near future a lot of people are going to understand and embrace blockchain technology.