Bitcoin x banks - page 5. | Bitcointalksearch.org

mickeybuddy27

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Quote from: MintCondition on April 30, 2018, 02:29:50 PM

Quote from: Jackblack90909 on April 29, 2018, 09:06:41 AM

Quote from: Johannson on April 19, 2018, 09:43:53 AM

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that you guys think we are now?

Bitcoin will reduce the need for banking services especially for the payment online, if it continue its success and get supported by more companies and marketplaces online. However people still use banks right now more than BTC because they are forced to deal with fiat currencies in most cases offline.

It is part of the new technology that will make the market and bank system goes crazy, they will put more advancement that we don't much see in banks.

Even there is much advancement in technology, bank is still a bank where you can keep your money safe from phishing. Most of the investors choose banks to save their money and only take bitcoin for investment because big amount of money catches the eye of the hackers. Bank will still exist even bitcoin is being used and time for crypto to exist all over the world. You cannot find safest place to put your money but on the offline services.

Shenzou

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Quote from: Johannson on April 19, 2018, 09:43:53 AM

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that you guys think we are now?

I think we still have a long way to go to be honest, i mean we did establish that bitcoin has become popular especially in the past year when it skyrocketed like crazy and every media in the world was talking about it, but as long as we are treating bitcoin as a type of investment and not as a legitimate currency that needs to be traded it still won't replace banks, people need to realize the real purpose of bitcoin so it can actually change their lives.

Vektrum

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Quote from: @theman on April 23, 2018, 04:36:04 AM

I think that bitcoin will replace the banks. And build a new economy. The main purport is the pump dump

I think that you do not really understand the work of banks and their possible relationship with bitcoin. Crypto-currency banks are not scary. It can not replace the work of banks. The banks have their own specific tasks and functions. First of all, it is the servicing of the country's economy, its financing and credit and financial activities. Crypto currency will not be able to carry out this work, which means that banks have nothing to fear from it. The state will always support the banking system in the case of conflicts between banks and the crypto currency, because the state can not exist without banks either. Now bankers are simply afraid of crypto-currencies, as it takes customers away from banks and bankers partially lose their profits. However, the banking system as a whole is not dangerous.

Roboabhishek

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Quote from: Spaffin on April 19, 2018, 02:43:43 PM

Since your reasoning is so vague that it is difficult to understand what is at issue, but the title of the topic is bitcoin and banks, I can say that banks have existed for a very long time and will exist as long as the state exists. Banks are an indispensable attribute of each state. Crypto currency can not replace banks and can not affect them so much that banks have stopped their activities or significantly changed it. Crypto currency and banks will be forced to exist together and in parallel with each other.

At the current state of bitcoin, I see that it is growing in price and in people who know it. More and more often you see that people are beginning to know about bitcoin. I believe that bitcoin can’t take over the banks of the world for two reasons: 1.Centralized banks run the world – This means that they basically will not allow this to happen.2.Stability – The bitcoin as a currency itself is not very stable in price meaning people who are rich or poor would not want to risk the fall of the coin ruining their income.

tomasarun

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It's hard for Bitcoin to ruin the banking system. But within 10 years the whole banking system will collapse and then it will be interesting to watch the apology of the world. Not the fact that this world will be the best, the prophecy of Luka Magnotti can be fulfilled Wink

by24

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Bitcoin will not replace the key roles of a bank, specially in stimulating the economy since you cannot create bitcoins out of thin air.

MintCondition

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Quote from: Jackblack90909 on April 29, 2018, 09:06:41 AM

Quote from: Johannson on April 19, 2018, 09:43:53 AM

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that you guys think we are now?

Bitcoin will reduce the need for banking services especially for the payment online, if it continue its success and get supported by more companies and marketplaces online. However people still use banks right now more than BTC because they are forced to deal with fiat currencies in most cases offline.

It is part of the new technology that will make the market and bank system goes crazy, they will put more advancement that we don't much see in banks.

1Referee

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Quote from: Whosdaddy on April 30, 2018, 12:43:47 PM

As bitcoin is still in its early stage, it must be too early to expect bitcoin replacing traditional banking system. But, it will happen how traditional mail communication was replaced by phone and email.

Bitcoin doesn't need to replace the traditional banking system, because that's just impossible since banks and governments can progress through crypto just as much as we do. The thing here is that we shouldn't focus on what banks do, but on how we can shift away from anything that's permission based. Banks don't care about their customers, and we in the same way shouldn't care about them. It's time to move forward.

In the same way I also would like to see people move away from centralized crypto exchanges and online wallet providers. In some cases they do offer convenience, but what's that worth when you are subject to so many rules and regulations? The only thing that's difficult to combine with decentralized exchanges is fiat. Currently you can already deal with fiat on decentralized exchanges, but the trades from fiat to crypto and vice versa are not decentralized, only crypto to crypto trades are.

Whosdaddy

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Quote from: Arroware on April 19, 2018, 09:56:46 AM

as far as I think investing in bitcoin and bank are equally good, but for me it's still nice to save money in bitcoin than we keep it in the bank, because the opinion of the dibank is very low compared to bitcoin.

What is there to invest in the bank? Since you have been saving in the bank, has there ever been a time the banks really make you feel the worth of your savings but instead take away from you. The banking system has always been the most corrupt and it is just unfortunate that people are beginning to see that truth all over the world with this current evolution. I believe bitcoin is really going to make all of them pay for all their past exploits.

Quote from: batang_bitcoin on April 29, 2018, 08:40:48 AM

I guess we are still on 90's of internet where before internet wasn't too popular and many are doubtful with it. So few more years left and we are going to see it gain popularity and reputation and it will go through millennium of internet.

As bitcoin is still in its early stage, it must be too early to expect bitcoin replacing traditional banking system. But, it will happen how traditional mail communication was replaced by phone and email.

Jackblack90909

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Quote from: Johannson on April 19, 2018, 09:43:53 AM

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that you guys think we are now?

Bitcoin will reduce the need for banking services especially for the payment online, if it continue its success and get supported by more companies and marketplaces online. However people still use banks right now more than BTC because they are forced to deal with fiat currencies in most cases offline.

Hellokitty09

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Nothing will happen to banks even if Bitcoin becomes more dominant in the future because to tell you the truth transactions fees are only the secondary income of Banks, what their main income comes from interest being paid by people who are borrowing money from them and these involves people and large corporations. Aside from that they are the ones who also handle the IPOs of several companies who wants to enter the stock market. As you can see banks will still have a good future. Banks can quickly adapt to any threats that they detect.

batang_bitcoin

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Quote from: Johannson on April 19, 2018, 09:43:53 AM

This statement was made in a documentary from a long time ago that I watched.

Can you give the link of that documentary? I'm interested to watch it but still good catch you've got there that's also the same thing what others see with the comparison.

Quote from: Johannson on April 19, 2018, 09:43:53 AM

So how far from that you guys think we are now?

I guess we are still on 90's of internet where before internet wasn't too popular and many are doubtful with it. So few more years left and we are going to see it gain popularity and reputation and it will go through millennium of internet.

Harlot

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People for some time know thinks that Bitcoin can compete to the business of banks are offering, well your wrong about it. Exactly what Bitcoin can offer that banks couldn't? The only notable thing is of course the ability to earn from your own money but other than that I cannot see Bitcoin as a threat to their main business which is lending their money. Banks aside from storing your money in pay of little interest are also loaning out your money for a bigger interest. Their business is guaranteed profit as if the loanee does not have the ability to pay their debt then the banks have the right to claim their property as collateral.

TheAndy500

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Quote from: Johannson on April 19, 2018, 09:43:53 AM

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that you guys think we are now?

I think that in future we will be able to use money and crypto at the same time so thanks to that banks and market will be at the same level and we won't see as much diffrent as youtube x tv.

misterj

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If you compared the effect of bitcoin to the banks the same as youtube to television in a way that they both coexist and benefits each other then right now, bitcoin does not affect the banks that much because only few have idea about it.

Dimid

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Johannson probably implied in view of the fact that bitcoin would make a good competition to the banks and eventually win them. Only comparison bitcoin and banks with YouTube and television is not quite successful. But I agree with the author, bitcoin will push banks, at least they will make healthy competition.

cahbagus555

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Quote from: Johannson on April 19, 2018, 09:43:53 AM

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that you guys think we are now?

I am believe when peoples adapting bitcoin and accepting bitcoin as payment and for transaction, people will leaving banks. Its because when we using bitcoin for transaction, we get lower fee on transaction and we dont have to pay monthly fee

sonic22

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Sooner or later banks will offer crypto accounts to their customers, maybe allowing payments in crypto but always in accordance with their exchange rates to national currency.

Chicksteen

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Real money is totally a different form of Currency and bitcoin is also another form of Currency. Bank helps manage real money and as real money is also very important Banks will exist. Banks also provide many other services which Bitcoin or blockchain can not provide. Some of them are loans, mortgage, savings account, debit accounts and many other things even i don't properly know it. Therefore banks will exist for days to come.

pitiflin

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YouTube never replaced television. Same applies for bitcoin to banks. They aren't meant to replace them,they are more like substitutes. Banks have a huge role,and they are organisations,and they are financial backbones of any economy. Meanwhile,bitcoin is a visual cryptocurency. There is a huge difference between the two. Know the difference.

Topic: Bitcoin x banks - page 5. (Read 1984 times)