Topic: Bitcoin VS bank - page 23. (Read 1766 times)

Central banks are currently the dominant structure nations use to manage  their economies. they have monopoly power and are not going to give up that power without a fight. While Bitcoin and other digital currencies have generated significant interest, their adoption rates are miniscule and government support for them is virtually nonexistent. until and unless governments recognize Bitcoin as legitimate currency, it has little hope of killing off central banks anytime soon. That noted, central banks across the globe are watching and studying Bitcoin. Based on the fact that metal coins are expensive to manufacture(often costing more than their face value), it is more likely than not that central banks will one day issue digital currencies of their own.

Yeah youre right and i must prepared for bitcoin because I know bitcoin without an interest and the value is always grow.Unlike from bank account that they have interest and your money will not grow just only for savings account.

I am using bitcoins for most of my online transactions these days but I do not see banks being replaced by bitcoins especially in my country:

1) In my country the condition of banks is not that good but the politicians still keep funding those banks for the benefit of the poor people who are using the services. There had not been that much statements from these politicians in favor of bitcoins.

2) Another thing is that there are still a number of illiterate people in my country. They are able to use the bank facilities by taking help from another person like for filling the forms. Giving your bitcoin account for transactions to another person can be very risky in my opinion.

In no way will this happen. In fact, the bitcoin right now does not seem to have the strength or potential that some years ago many idealists saw in bitcoin to displace the current financial system, and rather it seems that given the emergence of large capital in the market, there are more possibilities of a integration between the banking system and cryptocurrencies, that of a total break between both systems.

From what banks do live? From all those fees that we pay to them for services. But what is their job? To type on my balance that sum of money that I borrowed from them. This money not even real, that's why for debit/credit cards using (without physical cash) we get all those bonuses. Banks are the biggest transpiration on the Earth which is happening under our noses. So, that is normal thing that they are against of such financial freedom for people as bitcoin. But some of them already decided to use cryptos in their games and to make cryptos work on them. In my opinion banks and governments are the same thing, one live with the help of another, so I think banks will never disappear, but they definitely will start to ad crypto in their lists of currency exchanges to earn on it.

Why do people think bitcoin is against banks? Bitcoin such as he there is. He invited people to use their opportunities and they are better than bankers offer. This is because bitcoins don't need our money. Bankers constantly want to have some of our money. This makes bitcoin out of the competition. Let the bankers offer us the best conditions and there may be questions "Banks VS bitcoin".

The banks are not going down without a fight they would probably prefer the whole system crashes before letting bitcoin take their spot, if that is the case then this could mean that we are going to see one of the biggest crashes in the history of the world, I'm not really sure that I want to see that, however it is also possible that banks adapt to this new environment and learn to use bitcoin to their advantage.

In the future some say that it would replace but for me it can't replace I guess a bank for bitcoin what so ever something like that because bank uses for some purpose I don't know why people think it can affect the bank or it would replace the bank in the future.

This has been asked before between bitcoin and banks, my view on this bitcoin even in the future cannot replace banks. Actually both has the big impact to the users because bitcoin users really helps a lot on this technology since it can be used also as payment online. Banks cannot replace easily by bitcoin ever since it was already existing and adopts so many users.

Bitcoin  will replace banks in the future? No I think it's impossible to be happen, bitcoin is another currency that will exist by technological  via transaction. It's very useful and have a big value in the Crypto World but bitcoin will not replace banks.

I think we will see crypto banks, for storing wealth.

for the present and the next few years I think the bank is still the main pedestal of society, but for the long term, as the development of modern times and life, then I think that bitcoin is likely to shift the bank and donimate it, I am sure with this bitcoin because more and more days are learning and know this bitcoin, with various facilities and simplicity then bitcoin will surely excel from bank

Right now, its hard to replace bank with bitcoin. Bitcoin need time to replace it and people need time to mass adoption. I think the best thing for bitcoin right now is become investment instrument.

Banks and Bitcoin are in theory quite different. but if we look at the use of Bank and Bitcoin have the same thing, Bitcoin has a system called blockchain which, if described, will have features such as banking. I would agree if Bank and Bitcoin can collaborate, in the sense that one day the Bank will use Blockchain system and the use of real currency and Bitcoin is acceptable, so the scope of the bank will be wider and the development of digital currency can continue to be expanded. This is a form of how to integrate the two different things in order to get a good financial system in the future.

If bitcoin will replace bank then how will you change your bitcoin into fiat currency? There are banks that accept bitcoin in exchange for fiat currency and can also deposit bitcoin in them. Banks are institutions which holds out stocks like fiat currency which we can withdraw in any time we want, while bitcoin is a currency which we deposit in our wallets and can be traded to fiat currency. So how can a currency replace a bank?

I always believe and will always believe that bitcoin will not/never replace banks.  There are lot of things banks can do where bitcoin can't and I think these things will be banks advantages in order to survive in this economy. Bitcoins and banks can both exist and be used in managing finances. They are not rivals and should not be considered as one, in fact they can and should help each other for the betterment of our financing.

Not totally that but I think bitcoin will become more better than banks. Or lets say that banks will be the other partner of bitcoin.  Sooner or later we are all amaze in bitcoin because of this.

In its whitepaper, it said that its purpose is to move away from third party, which is the bank, when doing transactions. But, I think bitcoin is slowly moving away from that purpose. It is becoming or became a store of value for other crypto. But I still believe that can still be achieved, and if achieved in the future, bitcoin will replace the banking system we have now.

Certainly, and the world can no longer turn off Bitcoin, as the public plays a role in raising popularity and providing fundings for, which banks never believe it is a bitter reality for them in forever. but as you know they will always find a way to eliminate the founders and developers to ensure their mastery is 100% full if they use digital currency other than BTC it does not affect the cryptocurrency market and the BTC as major because I do not see what they can afford do it because everything should start with terms and conditions with contect is Decentralized if there is a digital currency other than that, not only you but we all will start to feel hesitant.

In addition, we have found that some group of developers have begun to play a role such as FORTY SEVEN BANK in their contect as a bridge for fiat money and digital currency which they are bound by the Counties of Estonia banking Act, and i see more development group via they platforms, that can be considered as a traditional banking replacement for digital currency debit card management, and we do not have to be fret with the response of some countries that who do not accept and recognize BTC and cryptocurrency because of the people in their country very love to invest in BTC for their future interests.

Bitcoin is a self-sufficient system and does not need support from the banking system. Many users did not understand this. They used to use Fiat and therefore can't imagine life without Fiat. But this is not a bitcoin problem. This is a user issue. They have to get used to. But I think that bitcoin can eventually become an alternative to Bank deposits.