Topic: Bitcoin VS bank - page 7. (Read 1745 times)
I doubt that we can talk about the banks shut down at least because that is not what bitcoin's idea is.
For more than a century, the banking system was used to fund state, endanger the stability of the economic activity, robbing private savings, eliminate one road, promote the financing dependence, even make violent reached an unprecedented scale, all because we do not have different techniques to implement monetary exchange. Now the monopoly is being broken. Bitcoin was born. The fear of the ruling class is only just beginning.
Do you think bitcoin will replace Banks in the future?
Do you think bitcoin will replace Banks in the future?
no, it will not, bitcoin proved its effect on our current economic status, it may still create more opportunities for the users to more innovative ways to earn and utilize bitcoin use, but let us not be complacent, bank has their own strategies to cope up with these innovations. im sure they will come up with a leverage against bitcoin and other cryptos, besides, there are vast majorities of commodities that bitcoin cannot cater and vice versa, so i think bitcoin and banks will still co-exist with one another in the future
Let's access them based on their peculiarities
BITCOIN ADVANTAGES
1. Universal
2. Intrinsic value
3. Fast transactions
4. Cheaper transactions especially cross-border
5. Unlimited accessibility
6. No limits to spending
7. Inflation immune
BANK ADVANTAGES
1. Regulated
2. Easy to convert funds to cash
3. Wider acceptability
4. Hacking can be traced if it happens
BITCOIN DISADVANTAGES
1. The loss might be irrecoverable
2. Bitcoin ATMs are relatively scarce, so conversion to cash is not easy
3. Limited acceptability (need to convert to fiat in most cases)
4. No regulations, hacking susceptible
5. Volatility in value
BANK DISADVANTAGES
1. Limited accessibility relative to bitcoin
2. Regulations impose limitations on spending
3. Fiat mostly devaluates
4. Banks can fold up and funds become unavailable
I am sure we can add more and more, so it depends on the side of the divide that suits an individual. Nothing seems absolute here.
You formulate it very clearly so we can read the detailed differences between banks and bitcoins. I think the fundamental difference is in terms of control. banks in centralized control while bitcoins is decentralized havent central control. then making anyone free to use bitcoin without any rules. different from banks that have certain rules. to determine which one is better certainly depends on the views of everyone. if they like freedom they will choose bitcoin and vice versa BITCOIN ADVANTAGES
1. Universal
2. Intrinsic value
3. Fast transactions
4. Cheaper transactions especially cross-border
5. Unlimited accessibility
6. No limits to spending
7. Inflation immune
BANK ADVANTAGES
1. Regulated
2. Easy to convert funds to cash
3. Wider acceptability
4. Hacking can be traced if it happens
BITCOIN DISADVANTAGES
1. The loss might be irrecoverable
2. Bitcoin ATMs are relatively scarce, so conversion to cash is not easy
3. Limited acceptability (need to convert to fiat in most cases)
4. No regulations, hacking susceptible
5. Volatility in value
BANK DISADVANTAGES
1. Limited accessibility relative to bitcoin
2. Regulations impose limitations on spending
3. Fiat mostly devaluates
4. Banks can fold up and funds become unavailable
I am sure we can add more and more, so it depends on the side of the divide that suits an individual. Nothing seems absolute here.
Because of its shape in the form of digital assets, I am not sure that in the future the bank's tasks can replace Bitcoin can be storage of valuables such as jewelry, gold and securities.
in my opinion there will be no replacing bitcoin bank instead of the bank who have to start following the trend of digital currencies like cripto currency so that banks can continue to exist and thrive following the times, because now the payment and financing have started using digital currencies and has many large in many countries admit.
For more than a century, the banking system was used to fund state, endanger the stability of the economic activity, robbing private savings, eliminate one road, promote the financing dependence, even make violent reached an unprecedented scale, all because we do not have different techniques to implement monetary exchange. Now the monopoly is being broken. Bitcoin was born. The fear of the ruling class is only just beginning.
Do you think bitcoin will replace Banks in the future?
Do you think bitcoin will replace Banks in the future?
There have been topics like this before. And I will still say, bitcoin will never replace banks and will not replace anything in this world. Bitcoin is an additional currency that has good price or value. Banks just need to adjust the way they think about crypto. Banks will comtinue to exist and will stay I think forver.
For more than a century, the banking system was used to fund state, endanger the stability of the economic activity, robbing private savings, eliminate one road, promote the financing dependence, even make violent reached an unprecedented scale, all because we do not have different techniques to implement monetary exchange. Now the monopoly is being broken. Bitcoin was born. The fear of the ruling class is only just beginning.
Do you think bitcoin will replace Banks in the future?
Do you think bitcoin will replace Banks in the future?
Bitcoin is revolutionary monetary system and its powerfull to replace banks domination. I think its need long time to replace banks domination with bitcoin, its because not many trust on bitcoin and cryptocurrency.
Bitcoin and bank of both recommended for investing but then each have pros and cons. If you invested in a bank, you can guarantee that your money is secured and it’s earning profits. The only disadvantage of it is that, you’re money is earning an equal amount of profit all throughout. Now, If yoh invested in Bitcoin, you can’t guarantee the your money is 100% secured because it is a great risk in investing. But then the amount of profit in bitcoin is much bigger than in a bank because the exchange of currency is not constabt, if the exchange is huge then invest immediately because you’ll surely earn.
Let's access them based on their peculiarities
BITCOIN ADVANTAGES
1. Universal
2. Intrinsic value
3. Fast transactions
4. Cheaper transactions especially cross-border
5. Unlimited accessibility
6. No limits to spending
7. Inflation immune
BANK ADVANTAGES
1. Regulated
2. Easy to convert funds to cash
3. Wider acceptability
4. Hacking can be traced if it happens
BITCOIN DISADVANTAGES
1. The loss might be irrecoverable
2. Bitcoin ATMs are relatively scarce, so conversion to cash is not easy
3. Limited acceptability (need to convert to fiat in most cases)
4. No regulations, hacking susceptible
5. Volatility in value
BANK DISADVANTAGES
1. Limited accessibility relative to bitcoin
2. Regulations impose limitations on spending
3. Fiat mostly devaluates
4. Banks can fold up and funds become unavailable
I am sure we can add more and more, so it depends on the side of the divide that suits an individual. Nothing seems absolute here.
BITCOIN ADVANTAGES
1. Universal
2. Intrinsic value
3. Fast transactions
4. Cheaper transactions especially cross-border
5. Unlimited accessibility
6. No limits to spending
7. Inflation immune
BANK ADVANTAGES
1. Regulated
2. Easy to convert funds to cash
3. Wider acceptability
4. Hacking can be traced if it happens
BITCOIN DISADVANTAGES
1. The loss might be irrecoverable
2. Bitcoin ATMs are relatively scarce, so conversion to cash is not easy
3. Limited acceptability (need to convert to fiat in most cases)
4. No regulations, hacking susceptible
5. Volatility in value
BANK DISADVANTAGES
1. Limited accessibility relative to bitcoin
2. Regulations impose limitations on spending
3. Fiat mostly devaluates
4. Banks can fold up and funds become unavailable
I am sure we can add more and more, so it depends on the side of the divide that suits an individual. Nothing seems absolute here.
I think bitcoin will not replace the bank. however, may be, the blockchain wich become the technology behind the bitcoin will replace the inefficient banking system.
There is no competition for me. Like i said for me bitcoin cant replace bank. Its way too far to happen. Bitcoin only exist virtual world.
The banks are obviously frightened by the advance of the cryptomonete, but I am quite certain that they will find the way to reconvert and continue to play a central role in the economic world.
They will not let themselves be put away so easily.
They will not let themselves be put away so easily.
Why decnetralized currency comparing with bank? The main purpose of bitcoin is to be perfect trading station without third side. Banks making money being third side...
I use bitcoin because I can keep my money without being connected to any center. I don't trust banks and capitalist system therefore I will always use bitcoin
I think bitcoin is better than banks because with bitcoin we have full access and control, I do not like to waste time waiting in line so I hope that someday the transaction system is like bitcoin.
Of course, bitcoin has many advantages, but at the moment, we can not give up banks, because it will change the world economy at the root. In any case, at the moment we should rejoice that we can use bitcoin transactions, and the rest are crypto currency.
Nope. Bank is there because it is a bank and Bitcoin is there because is it a bitcoin. One may exist without the replacement of the other. As you have said, banks have existed for centuries and the creation of bitcoin does not even affect the banks that greatly because most banks are controlled by the government. Therefore, in my opinion, bitcoin may never replace banks, because they can coexist.
I think bitcoin is better than banks because with bitcoin we have full access and control, I do not like to waste time waiting in line so I hope that someday the transaction system is like bitcoin.
It will be nice if we could get a future like that but we need to be realistic banks are the most powerful entities in the world and they are not going to give up that kind of crazy power due to a new invention, so I think that the best that we can expect is that banks and bitcoin are able to coexist together, and since banks cannot destroy bitcoin either that seems to be the most likely outcome.
I am a bitcoiner but still wish from the heart that btc and fiats both thrive together. Non of them should be dependent on the another
I think bitcoin is better than banks because with bitcoin we have full access and control, I do not like to waste time waiting in line so I hope that someday the transaction system is like bitcoin.
For now its already replace like a bank andit can be your alternative bank and if you use it you have 50% that your money will gain ir will lose so if you use it ,make sure you have knowledge about it.
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