Can Bitcoin make Banks disappear? - page 117.

Russelmain

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Quote from: yrreg ger on June 15, 2017, 03:54:20 PM

I do not think that bitcoin can make banks disappear. Banks have been existing long time ago before bitcoin was introduced. Banks have been also a great help for many citizens and I do not think that it would easily disappear because of bitcoin.

Even though, there is bitcoin now, people still needs bank to store their money. We can also use online wallets to store our bitcoin but still, banks are more convenient to use especially for people who haven’t had adjusted and adapted the fast-changing modern technology.

Banks existed long before the advent of high technology or any kind of mechanics or electricity. Therefore, I believe that the banking system is much stronger than the others combined. Of course I also suspect that Bitcoin can very well cooperate with the banking system, but on one condition that Bitcoin is legalized all over the world.

yrreg ger

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I do not think that bitcoin can make banks disappear. Banks have been existing long time ago before bitcoin was introduced. Banks have been also a great help for many citizens and I do not think that it would easily disappear because of bitcoin.

Even though, there is bitcoin now, people still needs bank to store their money. We can also use online wallets to store our bitcoin but still, banks are more convenient to use especially for people who haven’t had adjusted and adapted the fast-changing modern technology.

hawthelegend

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Quote from: choppork on June 14, 2017, 08:26:24 AM

Quote from: hawthelegend on June 13, 2017, 12:08:45 PM

Well, honestly i think that that is just impossible to happen, because the way i see it, banks are just like living things that adapt to its surroundings. And its form of adaptation to its bitcoin problem would probably be befriending his enemy instead and try to focus more on the benefits it can get from bitcoins rather than the minor issues that it hates. But if ever it so happens that banks really do disappear, then my friend, we'd already be long gone by then, along with all our grea great great great great grand children..

But hey, i havent studied bitcoins and banks that much, that's just my opinion regarding the topic, so yeah, i ain't a good source for infos. Just sayin'

You're basically saying that those are just your availability heuristics. You used your imagination without relying to any information or without conducting any research at all. I think that we're far from what you're thinking.

The banks can adopt bitcoins, everyone can adopt bitcoins, but will they? We will be long gone before those questions are going to be answered. It just seems so ironic if the banks start using bitcoin because the whole point of bitcoin is removing the use of trusted third parties such as the bank. We'll be back to square one if people started using bitcoins through the banks.

Yea my friend, you are right. I havent studied about bitcoins and banks too much. But, it doesnt mean that i dont know sht about these things, what i was trying to point out is that i don't know ot all yet abput these things. Hope that clears up a what you thought of me.

Now, back to my post, yes i agree a bit, you have a point there my pal, but just think about it, if banks continue to ignore and disregard the existence of bitcoins akd other crypto currencies that is all around. It will raise eyebrows and would probably make the people get into it more than using the banks. Coz let's face it, technologies are improving day by day and it wont be impossible for bitcoins and other crypto currencies to have better mechanics in terms of confirmations of transactions, accessibility etc.. now you see, my point here pal is that if a man if thirsty as fck and he ran put of water he'll be left out of choices but to ask for water from anyone he sees even when it means he has to ask from his enemy. That is also how the banks would play when time comes. They will ignore the negatives of brc to them and focus more on the benefits they can get while at the same time finding ways to increase those benefits.

Hope i explained it well now.

dady12

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bitcoin can't make bank to disappear as it is not every body like to invest in bitcoin. even most people fear to invest online as alot of people still believe bitcoin will soon end like liberty reserve or other online payment systems that 've already collapse in the past,alot of people are also aware of hackers stealing your bitcoin online ,they will prefer to keep their money in the bank that is supported by thier various government but those who have no fear will invest in bitcoin and will make it as all will pay off in the future

Jody.Drummer

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No bank ... Huh

I do not think so, because banks still need the most people in this world, if for the future it may be yes ... Grin

nod

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Bank's disappearance? No way! Although Bitcoin is a good way to make payments but real cash is still the best way to pay for people's lives, we cannot deny cash's benefits

linkme

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NO! Bitcoin can not make Bank disappear unless there are somewhere that people use bitcoin to pay for there daily lives, pay for EVERY SINGLE PAYMENT they have in their lives

Cosbycoin

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Quote from: aryana42 on June 14, 2017, 12:30:16 PM

Banks still exist even though many people in the world know and use bitcoin in the future. Bitcoin still cann't to handle big things in financial affairs also not be able to beat financial regulation of a country.

People have more trust on banking than on bitcoin but now in this age a lot of banks are also using bitcoin they now accept the value of bitcoin currency .and our new generation want relaxation and they are aware of the value of new inventions so I guess bitcoin is more relax and easy to use so it can do anything.

aryana42

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Banks still exist even though many people in the world know and use bitcoin in the future. Bitcoin still cann't to handle big things in financial affairs also not be able to beat financial regulation of a country.

choppork

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Quote from: douglock on June 14, 2017, 09:50:58 AM

Quote from: Celsiuss on June 12, 2017, 05:47:34 PM

The banks will never dissappear. We need the bank, like it or not. Need a loan? Go to the bank. Want to save money? Go to the bank. Need to store your money somewhere? Go to the bank.

LOl. Retard. We do need a loan from a bank in some situation, but I am not an idiot to save my money in the bank? I will buy gold and save it in my house or buy bitcoin and store it n my computer. Simple

Either you have a solid security in your house or you don't that much money to care about. We do need the banks even when storing our gold. Obviously, something precious in our house is in a vault. You're not going to just place your gold at some place in your house where the visitors can find it. Even in places like under your bed or behind a bookshelf, a family member is still going to eventually find it. Vault is still the way to go for storing your gold but when thieves come in, they'll force you to say the code of it.

Obviously your house is much less secured than the banks. You don't have your own security guard, the banks does. The bank has an alarm system, you probably have too but are your doors strong enough for people to not be able to force their way in. And the banks also have a huge vault which can't easily be broken.

douglock

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Quote from: Celsiuss on June 12, 2017, 05:47:34 PM

The banks will never dissappear. We need the bank, like it or not. Need a loan? Go to the bank. Want to save money? Go to the bank. Need to store your money somewhere? Go to the bank.

LOl. Retard. We do need a loan from a bank in some situation, but I am not an idiot to save my money in the bank? I will buy gold and save it in my house or buy bitcoin and store it n my computer. Simple

Xenophoto

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Quote from: madmanjoe on June 13, 2017, 02:02:15 AM

I don't think so, bitcoin is a very solid financial system as a coin and that's my opinion, But banks do cover more than that, giving loans to traders based on their reviews and making profit and giving interest to traders.
That might be because BTC is still too new, but their is nothing like that in BTC and even loaning sites are inefficient now.

What's your point, though, when all of that can actually be achieved in bitcoins. First, the profits that you make from the banks. You barely get 5% from the banks annually. You can invest tons of money but you'd still just get a couple of bucks for holding it in a long time. In bitcoins, when you hold it just as long, the profit is unbelievable.

For loans, just like in any banks, you can also get a loan someone from the bitcoin world but you also need a collateral. If you have a digital good that is a valid collateral, then you'll get a loan. You can also get a loan using a physical item but it costs a lot to ship the item to your escrow and then ship it to the lender in case you defaulted the loan. Anyway, the things that you mentioned are still achievable in bitcoins.

choppork

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Quote from: hawthelegend on June 13, 2017, 12:08:45 PM

Well, honestly i think that that is just impossible to happen, because the way i see it, banks are just like living things that adapt to its surroundings. And its form of adaptation to its bitcoin problem would probably be befriending his enemy instead and try to focus more on the benefits it can get from bitcoins rather than the minor issues that it hates. But if ever it so happens that banks really do disappear, then my friend, we'd already be long gone by then, along with all our grea great great great great grand children..

But hey, i havent studied bitcoins and banks that much, that's just my opinion regarding the topic, so yeah, i ain't a good source for infos. Just sayin'

You're basically saying that those are just your availability heuristics. You used your imagination without relying to any information or without conducting any research at all. I think that we're far from what you're thinking.

The banks can adopt bitcoins, everyone can adopt bitcoins, but will they? We will be long gone before those questions are going to be answered. It just seems so ironic if the banks start using bitcoin because the whole point of bitcoin is removing the use of trusted third parties such as the bank. We'll be back to square one if people started using bitcoins through the banks.

hawthelegend

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Well, honestly i think that that is just impossible to happen, because the way i see it, banks are just like living things that adapt to its surroundings. And its form of adaptation to its bitcoin problem would probably be befriending his enemy instead and try to focus more on the benefits it can get from bitcoins rather than the minor issues that it hates. But if ever it so happens that banks really do disappear, then my friend, we'd already be long gone by then, along with all our grea great great great great grand children..

But hey, i havent studied bitcoins and banks that much, that's just my opinion regarding the topic, so yeah, i ain't a good source for infos. Just sayin'

goinmerry

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Quote from: JimmieA on June 13, 2017, 08:33:02 AM

In my view, this can not happen. Although this is only my opinion, I think the state banking system will not easily disappear due to the emergence of a digital currency. When btc is popular around the world, it will exist alongside other conventional currencies. do you think so?

Banking industry in the whole world is so vast and really a success. They are playing big role for a country's income growth while at the same time helping people thru various services. If banks will dissappear did most of the people here thinks that bitcoin can fill those gaps? Remember that bitcoin is a currency and not a institutions so still a bitcoin bank is no different to normal fiat banks.

Im disagree with this kind of belief. Let just bitcoin give us good advantage but not to the extent that it will replaced banks. It's a disaster once banking industry world dies and bitcoin will be the one who will replaced on it.

ppaul15

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No bitcoin can't make banks disappear. Banks aren't depending on bitcoin, no matter how a hit bitcoin would possibly get in the near future. There are usually going to be individuals or people who will use bitcoin without having any other alternative options.

camelson

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Quote from: nethead on June 12, 2017, 11:15:08 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 don't think that bitcoin make banks to disappear, the reason behind this is that mostly people around the world either do not know about the bitcoin or not interested in online currencies. Other thing is the source of bitcoin as you never know the source which will cause some problems.

Also bitcoin is an digital currency and for making banks to disappear different stats will have to legalize the bitcoin which i don't think is possible in near future.

BitcoinPricingtool

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No one knows for sure, since BTC is starting to get mass adopted and used worldwide as an investment and is shifting the financial system from top to bottom, taking the place of banks is difficult to expect but only with BTC I think it can happen. My opinion those would change a little but not be gone or changed fundamentally.

7jaka7

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BTC, ETH, XMR, LTC

My opinion is that banks won't disappear but will change significantly. Today banks are almost indestructible, if they are collapsing country must save them. So they just can't lose. This is all just because FIAT currencies which they (banks) have control of. There will still be institutions which will lend you money, where you can pay bills etc. But they won't have so much control as today in system we have. (please correct me if I am wrong!)
So we can say it won't make banks disappear but it will definitely change them a lot!

Rifat989

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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?

No bitcoin cant make banks disappear.

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