Can Bitcoin make Banks disappear? - page 106.

8Habits

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Quote from: youdacapt on July 10, 2017, 08:55:24 AM

Quote from: FrozenByte on July 09, 2017, 11:18:02 PM

I don't believe that Bitcoin can make Banks disappear. They have been around for too long for them to just go away in a few years.

If you think like that, you have to think about many aspects that underlie the possibility of the bank will disappear, if you live in a country that has experienced government revolution, the analogy is bitcoin has great potential to replace economic civilization with a new system. Half the earth population has the mind to manage finances freely, and half prefer to believe in civilization today.

The dangerous thing about this government revolution and anarchy is the fact that there is no regulation and there are bigger chances of disorder and chaos. This is not what we really happened. Government are there to maintain the orderliness but if the people behind it are corrupt and do nothing, then that is the start of the problem.

Ahmat faisol

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Civilization has indeed changed and governments have made various revolutions.
But the people know the bank better than know the bitcoin more clearly the bank will never disappear.
Even if bitcoin is popular in the world The teams in a bank must have its own idea to adapt to bitcoin as it is already in my area of ATM BTC although little but many already know this one bank that provides services for BTC holders.
It is very likely that one day the bank will participate to BTPC so they will not disappear.

panganib999

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Quote from: BTCBinary on January 11, 2016, 09:40:58 PM

It seems that experts say that Bitcoin 'Here to Stay,' But Banks Could Disappear.

"TheStreet: How do you think FinTech will impact the way banks operate?

Frank Schwab: Banks either react on, or they will disappear. Anyway, the consolidation of the banking industry accelerates as the behaviour of people changes. Some banks will benefit from [FinTech], some will be pushed to the back end, and some will disappear."
http://www.thestreet.com/story/13419089/1/bitcoin-here-to-stay-but-banks-could-disappear-says-fintech-expert.html

What's your read on that?

I do not see bitcoin as a major thing or threat that will make banks disappear. Because banks will find its own way to get along with its consumers and the potential investors demands. If bitcoin is the way to keep their business going, I am sure that they will adopt and evolve their marketing strategy that will suit people's needs and wants. In that case, banks will not be possible to disappear as lonh as they will adopt. If they will add bitcoin as one of their feature cryptocurrency same with cash.

youdacapt

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Quote from: FrozenByte on July 09, 2017, 11:18:02 PM

I don't believe that Bitcoin can make Banks disappear. They have been around for too long for them to just go away in a few years.

If you think like that, you have to think about many aspects that underlie the possibility of the bank will disappear, if you live in a country that has experienced government revolution, the analogy is bitcoin has great potential to replace economic civilization with a new system. Half the earth population has the mind to manage finances freely, and half prefer to believe in civilization today.

8Habits

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Quote from: Capradina on July 09, 2017, 10:14:26 PM

Quote from: alexsandria on July 08, 2017, 09:04:30 AM

Quote from: BTCBinary on January 11, 2016, 09:40:58 PM

It seems that experts say that Bitcoin 'Here to Stay,' But Banks Could Disappear.

"TheStreet: How do you think FinTech will impact the way banks operate?

Frank Schwab: Banks either react on, or they will disappear. Anyway, the consolidation of the banking industry accelerates as the behaviour of people changes. Some banks will benefit from [FinTech], some will be pushed to the back end, and some will disappear."
http://www.thestreet.com/story/13419089/1/bitcoin-here-to-stay-but-banks-could-disappear-says-fintech-expert.html

What's your read on that?

Ofcourse no because bitcoin has its own descriptive and bank also and yet bitcoin is not a threat to banks that may able to make it disappear because bitcoin is a another way of currency which is digital that can also help in circulating our currency. Bitcoin may not be good at this time yet it is very good in terms of progressions.

precisely, banks and also the bitcoin has or desires are different. The Bank was the currency of each State expires on regularity, bitcoin wants to help everyone to perform transactions, financial management is done with a single click or do individually. But it all did have in common, however the bitcoin until whenever will never replace the role of the bank. Because the bank is the most important thing in any Government, if the bank is missing then all order in the Government will be lost

That is the reason why we should be very thankful about bitcoin because it us somehow not regulated by the government. This s amidst the fact that thousand of dollars worth of bitcoin are mostly transacted every single minute.

FrozenByte

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I don't believe that Bitcoin can make Banks disappear. They have been around for too long for them to just go away in a few years.

Capradina

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Quote from: alexsandria on July 08, 2017, 09:04:30 AM

Quote from: BTCBinary on January 11, 2016, 09:40:58 PM

It seems that experts say that Bitcoin 'Here to Stay,' But Banks Could Disappear.

"TheStreet: How do you think FinTech will impact the way banks operate?

Frank Schwab: Banks either react on, or they will disappear. Anyway, the consolidation of the banking industry accelerates as the behaviour of people changes. Some banks will benefit from [FinTech], some will be pushed to the back end, and some will disappear."
http://www.thestreet.com/story/13419089/1/bitcoin-here-to-stay-but-banks-could-disappear-says-fintech-expert.html

What's your read on that?

Ofcourse no because bitcoin has its own descriptive and bank also and yet bitcoin is not a threat to banks that may able to make it disappear because bitcoin is a another way of currency which is digital that can also help in circulating our currency. Bitcoin may not be good at this time yet it is very good in terms of progressions.

precisely, banks and also the bitcoin has or desires are different. The Bank was the currency of each State expires on regularity, bitcoin wants to help everyone to perform transactions, financial management is done with a single click or do individually. But it all did have in common, however the bitcoin until whenever will never replace the role of the bank. Because the bank is the most important thing in any Government, if the bank is missing then all order in the Government will be lost

aoihs00

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Aah! Something I wish could happen any time now. Banks are real devils of financial system. They pose like big hero of the nation but they are not. They take away lots of money from you in the form of service charges and VAT. Hell they say that they are giving 11% of interest rate on your saving that is in the bank and that is also annually but what the f*** they do take bigger service charges throughout the financial year and that why I hate it. Its better that bitcoin eats out them and atlas we can have everything that we deserve to have boy!

micher143

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Quote from: zevtev9 on July 08, 2017, 08:51:22 AM

This is a very difficult question to answer, particularly for someone who believes in bitcoin, I don't think banks will disappear as a whole but probably will change their system a bit, perhaps even enabling and using bitcoin accounts and paying interest in bitcoins.
The issue with banks disappearing is the fact they are the engine for finance, funding and financing everything from merchants loans to real estate, so, if banks disappear, what will cover these needs.

Banks need to adopt bitcoin to go to the flow of technology. Because for now many people now are using bitcoin instead of banks but of course the way they can cash out the bitcoin is the banks and ATM machine but it is okay if the banks accept bitcoin and adopt it to be part of their system.

AiWanChu

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alot of wishful thinking on here.. BTC will never supplant banks

pathapoddo

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CRYPTOCITIZEN $CCASH

I am not sure about it.Because banks are the middle businesses organization.If their present scheme can't give them much profit or face to loss they will find another scheme for the customers. So I think when bitcoin will the strong currency they will reduce the scheme of fiat currency. They will businesses on bitcoin & will advertise on bitcoin to save their bank.But now they know that bitcoin will the king of future world so they now silently following bitcoin & it's rate.Thank you.

iram1011

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Banks aren't sleeping. They are paying close attention to Bitcoin and its growth. They are not doing anything at present because its adoption rates is miniscule as compared to fiat.

Another thing is they both are different in so many ways. Banks try to maintain financial stability of a country and provide many other services such as of mortgage and lending. Which bitcoin doesn't. But cases like of Greece, where banks put money ahead of people for their personal gains are prevalent and many places corruption is also high. This strengthens Bitcoin and makes bitcoin an alternative to banks.

But 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 and Bitcoin market cap is still very less for making any significant change.

Caelanpelley

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Quote from: kevin go on January 11, 2016, 09:48:55 PM

im sure it can...but it will take a long time to make bank dissapear...
but make sure that all people know what is btc...in my country just a less people know bitcoin...

That can not happen. The development of bitcoin is still unstable, prices fluctuate, then why can it make the bank disappear? The bank has a stable development history, I do not think for a time that bitcoin can do it.

systemv

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At one point they will disappear in the current shape. They will become smart contract (or whatever it would be called) driven machines used for holding deposits, will do automated investments and transfers. All "account servicing" and "operations" can be defined as smart contracts.

rjbtc2017

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Quote from: JimmieA on July 09, 2017, 10:58:49 AM

Quote from: kevin go on January 11, 2016, 09:48:55 PM

im sure it can...but it will take a long time to make bank dissapear...
but make sure that all people know what is btc...in my country just a less people know bitcoin...

I do not understand your thoughts, but in my opinion the bank can not disappear because it is a big source of government revenue and they are trying to build that system and it is not easy for it to disappear on the substitution By the Bitcoin system. On the other hand bitcoin does not bring any benefit to the government. In addition the banking system can not disappear when the cash system persists in our lives.

I agree on this, rebuilding the system of government-bank relationship to government-bitcoin relationship is hard, considering that bitcoin is not fully a standard/stable thing unlike bank that has been here for a long time, Maybe Bitcoin will be a part of the BANKS. I think Banks are still more powerful than Bitcoin.

ximply

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I do crypto TRADING

Only magicians can make bank disappear and bitcoin is not magic. But its magical it brings to us.

But bank needs to adopt to blockchain technology otherwise they will become obsolete.

JimmieA

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Quote from: kevin go on January 11, 2016, 09:48:55 PM

im sure it can...but it will take a long time to make bank dissapear...
but make sure that all people know what is btc...in my country just a less people know bitcoin...

I do not understand your thoughts, but in my opinion the bank can not disappear because it is a big source of government revenue and they are trying to build that system and it is not easy for it to disappear on the substitution By the Bitcoin system. On the other hand bitcoin does not bring any benefit to the government. In addition the banking system can not disappear when the cash system persists in our lives.

Reid

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Quote from: doomloop on July 09, 2017, 10:37:08 AM

Quote from: Gheka on July 08, 2017, 07:50:59 AM

Quote from: Vaskiy on July 07, 2017, 09:22:51 AM

Quote from: hugoworld on July 07, 2017, 07:10:26 AM

I don't think bitcoin will sweep banks away but bitcoin will make banks into bitcoin banks. Maybe in the future , there will be no real money , everyone will use bitcoin. Who knows ?

In future the banks might add bitcoin to their list of service provided, but could never convert entirely to bitcoin bank. Always real money has got its usage as well the value, because till date the users of bitcoin is very low compared to the fiat users around the world. Bitcoin creates a change in the system, but the same never leads to replacing.

Yeah, I agree with you, in the future the bank will consider bitcoin as a payment method, we will be able to convert bitcoin into cash or cash into bitcoin at the bank. The real money has been the habit of everyone in the world, the future of real money will still exist, it can decrease in number of users but it will never disappear or be replaced by bitcoin. Bitcoin can be popular and powerful on the internet but in the real world, it's not strong enough to replace or disappear of anything, real money is always convenient and more popular than Bitcoin

I don’t know why people ask such questions. Look the US dollar, England pound and European euro are some most stable and high economies around the world, so did they caused any bank in the third world countries to shut down. Everything has its own place. Bitcoin is not a threat to worlds economy rather it’s an opportunity for the people to get rich.

That is not how it works. Who says it is not a threat?
If they will see that bitcoin can be used like a bank (actually much better than them) where you are your own manager and the increase annually are better then the people who have funds in the banks can come to a thinking why not use bitcoin.
With this, banks may create a movement to bring bitcoin down.
It is a threat. It just cannot be seen by now since there are not too many who are supporting it.

doomloop

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Quote from: Gheka on July 08, 2017, 07:50:59 AM

Quote from: Vaskiy on July 07, 2017, 09:22:51 AM

Quote from: hugoworld on July 07, 2017, 07:10:26 AM

I don't think bitcoin will sweep banks away but bitcoin will make banks into bitcoin banks. Maybe in the future , there will be no real money , everyone will use bitcoin. Who knows ?

In future the banks might add bitcoin to their list of service provided, but could never convert entirely to bitcoin bank. Always real money has got its usage as well the value, because till date the users of bitcoin is very low compared to the fiat users around the world. Bitcoin creates a change in the system, but the same never leads to replacing.

Yeah, I agree with you, in the future the bank will consider bitcoin as a payment method, we will be able to convert bitcoin into cash or cash into bitcoin at the bank. The real money has been the habit of everyone in the world, the future of real money will still exist, it can decrease in number of users but it will never disappear or be replaced by bitcoin. Bitcoin can be popular and powerful on the internet but in the real world, it's not strong enough to replace or disappear of anything, real money is always convenient and more popular than Bitcoin

I don’t know why people ask such questions. Look the US dollar, England pound and European euro are some most stable and high economies around the world, so did they caused any bank in the third world countries to shut down. Everything has its own place. Bitcoin is not a threat to worlds economy rather it’s an opportunity for the people to get rich.

Warry

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Quote from: BTCBinary on January 11, 2016, 09:40:58 PM

It seems that experts say that Bitcoin 'Here to Stay,' But Banks Could Disappear.

"TheStreet: How do you think FinTech will impact the way banks operate?

Frank Schwab: Banks either react on, or they will disappear. Anyway, the consolidation of the banking industry accelerates as the behaviour of people changes. Some banks will benefit from [FinTech], some will be pushed to the back end, and some will disappear."
http://www.thestreet.com/story/13419089/1/bitcoin-here-to-stay-but-banks-could-disappear-says-fintech-expert.html

What's your read on that?

In my opinion, Bitcoin can not make bank disappear because of its a lot of disavantages but in the future, there would some other currencies that are suitable for daily uses and make bank disappear.

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