Can Bitcoin Beat Banks? - page 9. | Bitcointalksearch.org

Godday

sr. member

Activity: 1512

Merit: 397

PredX - AI-Powered Prediction Market

Quote from: kissme09 on April 19, 2019, 12:51:47 PM

This is very unlikely when most populous countries always issue a ban to separate it from their country. We need big countries like India and China to accept Crypto because these are the two countries with the most investors.

indeed, crypto replaces the bank is not possible. because in general the bank has been used by everyone and has become a human habit in using the bank. because until now the bank is very much needed by humans in any transaction. so indeed the longer the transaction gets tighter.

kissme09

full member

Activity: 658

Merit: 100

PayAccept - Worldwide payments accepted in seconds

This is very unlikely when most populous countries always issue a ban to separate it from their country. We need big countries like India and China to accept Crypto because these are the two countries with the most investors.

Babylon

hero member

Activity: 938

Merit: 500

CryptoTalk.Org - Get Paid for every Post!

Banks are still unbeatable this day by bitcoin because banks are stable and they have a lot of good offer for the potential consumers that might trick them into using the bank instead of the other option like bitcoin. Banks are offering insurance and also almost assured investments for their customers while bitcoin is still volatile and a lot of people are giving negative thoughts toward bitcoin that result into discouragement for the other investors.

Pamadar

legendary

Activity: 2982

Merit: 1028

Quote from: Pattart on April 19, 2019, 07:19:11 AM

Quote from: STT on April 18, 2019, 02:29:53 PM

Banks dont seriously consider Bitcoin a competitor, its more a transmission service then what a bank does which is offer leverage, lending and some other services. Bitcoin doesnt offer any leverage within its protocol, only operators who then use BTC can do that service and its fairly select for that occur and not much a threat to an established industry like banking

Do not think too much negatively, the bank does not take bitcoin seriously as a competitor, they let bitcoin grow.
and banks also believe that the growth of bitcoin will not bring down and eliminate banks in the world

Simply always thinking of advantage that they can possibly get from this system, they are not treating this chain as a serious competitors since they are still profiting from transactions converting crypto to Fiat and vice versa as it's still most traders still using banking system after investing inside crypto market.

markogive

newbie

Activity: 2

Merit: 0

in my opinion bitcoin will not be able to replace banks because the world's population still uses physical currency, especially in remote areas and in various countries have not legalized crpyto currency as a medium of exchange or buying and selling

Ridwan Fauzi

full member

Activity: 1330

Merit: 147

Quote from: Thanasis on April 18, 2019, 11:56:51 PM

Possible but it is all in the hands of us,when we are using cryptos for payment then it will make revolution on the payment system which could destroy the old centralized system but with the current intention of crypto investors it will never replace traditional banking because at some stage we need banks for cashing out our cryptos as fiat.

Unless we make a new country to do it, just awkward thing when you say cryptocurrency is possible to defeat bank's function in the future and nay that all in the hand of us. How we can do for cryptocurrency can be accepted well by government? everything has been done by us maybe but government still make a limit for cryptocurrency especially bitcoin grow up. Moreover, bitcoin has been known by plenty people in my country as negative thing. So, although the government accept cryptocurrency maybe just a little possibilities they will choose it.

sulendra12

hero member

Activity: 2814

Merit: 526

Undeads.com - P2E Runner Game

Quote from: Leoeco on April 18, 2019, 08:36:42 PM

I think It won't happen if the government doesn't go bankrupt. In other words, cryptocurrency can be used in under developed countries instead of a bank.

If the goverment go bankrupt and you wouldn't even live now. It's the worst that shouldn't happen. Ironically, you need bank to maintain the economy of certain countries. If Banks become irrelevant, then the economy condition would be so bad.

Odessit_ya

full member

Activity: 172

Merit: 102

A Blockchain Mobile Operator With Token Rewards

I think that most likely banks using blockchain and bitcoin will beat us in the near future by issuing loans in bitcoins and other top cryptocurrencies ...
Ps banks will never die

geegaw

hero member

Activity: 1316

Merit: 502

Quote from: STT on April 18, 2019, 02:29:53 PM

Banks dont seriously consider Bitcoin a competitor, its more a transmission service then what a bank does which is offer leverage, lending and some other services. Bitcoin doesnt offer any leverage within its protocol, only operators who then use BTC can do that service and its fairly select for that occur and not much a threat to an established industry like banking

Agree, banks that really don't care and don't consider bitcoin are a threat to them in the future because of what bitcoin provides, the services and features of bitcoin, it is still not comparable or better than the services provided by the bank. Although many people are starting to participate in bitcoin, the number is still increasing every year but all just a place to invest, they don't think bitcoin can do something better, and we should remember that the banking system is always a place to get government protection, if bitcoin wants to replace the bank, it should be careful with the government.

Pattart

hero member

Activity: 1190

Merit: 500

Quote from: STT on April 18, 2019, 02:29:53 PM

Banks dont seriously consider Bitcoin a competitor, its more a transmission service then what a bank does which is offer leverage, lending and some other services. Bitcoin doesnt offer any leverage within its protocol, only operators who then use BTC can do that service and its fairly select for that occur and not much a threat to an established industry like banking

Do not think too much negatively, the bank does not take bitcoin seriously as a competitor, they let bitcoin grow.
and banks also believe that the growth of bitcoin will not bring down and eliminate banks in the world

efxtrader

full member

Activity: 924

Merit: 100

GoMeat - Digitalizing Meat Stores - ICO

Quote from: zee11225 on April 18, 2019, 11:34:27 PM

Quote from: tarable on April 18, 2019, 09:40:21 AM

it will never be able to defeat the bank because the bank is still widely used by many people and the bank will also be used whenever there is a digital currency and a blockchain system that is easy to use

In my opinion, it will not be able to beat the bank because banks have many functions, such as money transfers, giving credit, savings and time deposits, safety boxes for safekeeping of valuables, etc. that are not all owned by bitcoin.
But for financial transactions I believe that bitcoin can be an alternative to simplify and accelerate because of peer to peer, and more and more user.

Bitcoin used for peer to peer transaction and as store of value or digital asset. Hard for bitcoin to beat banks because banks already have good infrastructure on our current economic system. Without banks right now, there is no growth on our economic and our economic system will back to barter system

Thanasis

hero member

Activity: 1820

Merit: 515

★777Coin.com★ Fun BTC Casino

Possible but it is all in the hands of us,when we are using cryptos for payment then it will make revolution on the payment system which could destroy the old centralized system but with the current intention of crypto investors it will never replace traditional banking because at some stage we need banks for cashing out our cryptos as fiat.

d1ceplayer

sr. member

Activity: 686

Merit: 277

Quote from: Ranly123 on April 18, 2019, 08:00:23 AM

I don't think so, Bitcoin is a supplement to what banks has. Crypto are created to be an alternative to Fiat and not in competition would what current really is. So for me, Fiat and cryptocurrency share the same perspective and that is to serve as the means of doing transactions online and in traditional ways.

Yes, both of them are very important to our society, we need both to have a smooth and successful transaction, just that the benefit of one outweighs the other, the benefit cryptocurrency brings in its operation will make people have more attention on using it as a payment system to that of cash.

Cash still has a little role to play and as long as cash is in existence, bank will always function, provided it is still the legal means of making paper payment, no matter what, even till decades time, there are so many people that will not be technology inclined, so they will still have issues in using BTC as means of payment leaving it to those that are technology inclined. So I see a balance between the 2 of them.

zee11225

member

Activity: 314

Merit: 10

“A nexgen decentralized ride hailing ”

Quote from: tarable on April 18, 2019, 09:40:21 AM

it will never be able to defeat the bank because the bank is still widely used by many people and the bank will also be used whenever there is a digital currency and a blockchain system that is easy to use

In my opinion, it will not be able to beat the bank because banks have many functions, such as money transfers, giving credit, savings and time deposits, safety boxes for safekeeping of valuables, etc. that are not all owned by bitcoin.
But for financial transactions I believe that bitcoin can be an alternative to simplify and accelerate because of peer to peer, and more and more user.

Leoeco

newbie

Activity: 26

Merit: 0

I think It won't happen if the government doesn't go bankrupt. In other words, cryptocurrency can be used in under developed countries instead of a bank.

Valhalaa

copper member

Activity: 546

Merit: 1

Quote from: rika0223 on April 18, 2019, 04:30:58 PM

Quote from: mrdeposit on April 08, 2019, 05:17:56 PM

In my opinion the banks are a wider concept. Question like "can money beat banks?". Banks will most likely be used, but not as it is now. More in accordance with the crypto concept.

defeating I think it is very difficult that it is possible that the bank will adopt a system that uses crypto currencies because we know that the system used by crypto currencies is using time and technology and banks will need

yes the bank really can't be matched because of this
because all payments have been around for a long time and have become the fundamentals of developed countries
and it is not possible for something new to directly defeat the old one
because our society also doesn't understand how crypto works
and people trust banks more because we can come to the bank and transact safely

imstillthebest

full member

Activity: 1638

Merit: 122

Quote from: rika0223 on April 18, 2019, 04:30:58 PM

Quote from: mrdeposit on April 08, 2019, 05:17:56 PM

In my opinion the banks are a wider concept. Question like "can money beat banks?". Banks will most likely be used, but not as it is now. More in accordance with the crypto concept.

defeating I think it is very difficult that it is possible that the bank will adopt a system that uses crypto currencies because we know that the system used by crypto currencies is using time and technology and banks will need

banks ,cryptos and fiats will all co exist together because bitcoin cant work properly or wont work at all without the help of fiat and fiats wont also work without the help of banks because who will produce fiat anyway ? there is no competition on here . bitcoin is not created to beat the banking system or any other payment system out there . bitcoin is just only an alternative curreny .

rika0223

full member

Activity: 634

Merit: 128

Quote from: mrdeposit on April 08, 2019, 05:17:56 PM

In my opinion the banks are a wider concept. Question like "can money beat banks?". Banks will most likely be used, but not as it is now. More in accordance with the crypto concept.

defeating I think it is very difficult that it is possible that the bank will adopt a system that uses crypto currencies because we know that the system used by crypto currencies is using time and technology and banks will need

STT

legendary

Activity: 4102

Merit: 1454

Banks dont seriously consider Bitcoin a competitor, its more a transmission service then what a bank does which is offer leverage, lending and some other services. Bitcoin doesnt offer any leverage within its protocol, only operators who then use BTC can do that service and its fairly select for that occur and not much a threat to an established industry like banking

Vishnu.Reang

sr. member

Activity: 1988

Merit: 453

Quote from: goaldigger on April 16, 2019, 06:04:00 AM

I dont think of any reasons why we are comparing banks to crypto since they are both have diffrrent functions. Bitcoin is a cryptocurrency and banks are institutions that manages a currency. They are both different and can be used at the same time. No one should ever left behind.

In some instances, Bitcoin can be considered as a competitor to the banks. And even the banks consider Bitcoin as a threat for their survival. So my opinion is that there is nothing wrong in comparing Bitcoin with banks. There is plenty of overlap between the two.

Topic: Can Bitcoin Beat Banks? - page 9. (Read 2006 times)