I don't think so, as Bitcoin just now is an investment option rather than actual currencies.
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Bitcoin Halem Shake1
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Bitcoin Halem Shake 2
https://youtu.be/MVAkcAFG0oc
Topic: Can Bitcoin make Banks disappear? - page 11. (Read 427618 times)
Banks will always have a role and purpose in our economy. They will probably update themselves and use cryptocurrency if need be, no doubt.
I don't think so because some transactions of businessman and businesswoman are through banks and also some of ofw's are using banks in remitting their money for their love ones.
Very likely, when all transactions can be done by yourself without any bank will certainly make the banks deserted and slowly can close the business. I'm sure if everyone using bitcoin, then the bank will close automatically but no time soon, because the user has not been much bitcoin.
I think this is difficult because there are people in the world who think bitcoin is too risky and that they will put their money at the bank's steady investment rather than the more adventurous bitcoin. Conservative and radical right or wrong, but different directions.
Nope.how can you withdraw your million if you don't transfer it in bank?.i knos there's a western union etc...but you can't withdraw a million because your withdrawal is limit only like 100-400k.
the bank is playing a big role in the society...every business is run by money and people still deposit the earnings to their banks, so banks might not really disappear and might just adjust or adapt a new technology. I believe banks will start different type of banking like providing safe vault or mortgage kind of services alone. Banks will fall.Banks wont be out of business for some time, but they will have to compete better, not just monopolize everything.
A large of number investors worry about bitcoin bubble. The continued rise in the value of Bitcoin looks unsustainable in both economic and environmental terms. So the survival banking is necessary
I dont think that it can happen. Many people doesnt even know what Bitcoin is. Even in the probably time of only the cryptos will exist such needs. And even with the most sophisticated crypto in existence will exist always a hacker which can be able to steal or break the security of our personal wallets. Or people which will offer crypto but not security. It is another thing a bank. In all the previous problems...
Users here make use of bitcoin wallets whether online or offline but these also are online banks. We need a place to store those coins and these are called banks which would exist forever.There is a huge difference between these two. Bitcoins can not replace anything but can form their own identity and depending on their adoption, people may prefer using bitcoins over other forms of currencies but still banks would be in operation.
We're going to need several different ways of Bitcoin hitting an end in terms of being none as its own currency. Right now, it just seems like an investment, and not really a currency.Because many people also want to save their cash because they know Bitcoin disagree.
I think bitcoin and fiat money will live together. Bitcoin can surpass the fiat money for everyday usage but it will take more than 50 years from now.
Government also make their transactions so transparent. It would be easy to identify the right party. Bitcoin should replace bank's place in future.to less people know about bitcoin and hard to understand for some people and im sure one day the would understand and change to more good things just like bitcoin..
It is very difficult to make banks disappear, and we still need the fiat money to meet our daily needs. And for now bitcoin ia more like investment than currency.
I would like to see that happen, disappearing of banks sounds great. But unfortunately that will not happen. For me its hard to predict what will banks do about and with bitcoin but for sure they have some plans.if alot of people learn about bitcoin and see what it can do, thers a very good possibility it can take over banks, but even if that happens im guessing tons of people woudlnt want to switch to bitcoin from their bank accounts.
For me it's not totally, because some people are much comfortable using bank or using fiat money, we can't force people to user cryptocurrency, we should respect them and also accept their own opinion about cryptocurrencies.
Yes i think so, that's why government and banks tries to ban bitcoin in their country so they dont obsolete. They know that these days many people are using bitcoin because it was so convenient in terms of making transaction no papers needed, no additional fees, and the best in bitcoin is no middleman needed.
No,i doubt it because banks is far different from bitcoins.Bitcoin is manage by internet but banks manage by people.
No, I doubt it because banks is far different from bitcoins. Bitcoin can be accessed and obtained by anyone with access to the internet and not everyone has an access to it so it does not cater to the needs of the general public. Banks are present to safeguard customer’s cash holdings at a given time and lend them to those in need to collect revenue in the form of interests, that involves a central authority catering to needs of the public.
I think no. Bank is an intermediary that needed in business in their everyday transactions so bank is indeed important. Bitcoin may do what bank is processing but it has a limitations. There are a lot of transactions via banking operation in the world that only banks can do but bitcoin cannot since it is not yet recognized around the world. Bitcoin is still has a long way to run in the business. It can be applicable to some businesses but not all. But who knows in the near future what BTC can do, it may become an intermediary to the business world.
It is in an ideal society that it could be so that bitcoins or other crypto-currencies are used as a single payment method and then banks would become simply unnecessary and disappear unnecessarily. However, we know that ideal society does not exist. Moreover, the society, in this case, must unite in a single economic system. In our real world, this is impossible. Within the framework of a single country, this is also unlikely to be achieved. If we only go on using crypto currency and destroy banks as a financial instrument of conventional currency, it means making the economy completely open to other countries and exposing it to the influence of various negative world factors. And how then to plan and manage the economy with such great volatility? No, I do not think banks will disappear in the foreseeable future.
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