Can Bitcoin make Banks disappear? - page 118.

JimmieA

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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...

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?

Ashtville

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I don't think so, the current financial system is very much linked with banks, with the whole process of lending being the fuel of economy and investment in the developed world, Even if BTC does go mainstream I don't see the financial system crumbling to dust and hence banks staying, They might look different though.

arcanayou

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It will not, bitcoin will probably grow rapidly and will be used all the people but will not make Banks disappear, banks are still needed until whenever the economy of a country can run smoothly. Maybe the bank can be a place to store and distribute bitcoin, we can borrow bitcoin from the bank

madmanjoe

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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.

19Nov16

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Yes of course can make banks dissapear, here's the thing feared banks, because if the use of the bitcoin's getting massive then the customer will leave banks and choose the bitcoin.

totaleclipseofthebank

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Bitcoin can not make bank disappear. Cryptocurrency will be the new form of currency which will defeat the bank and the whole bank system collapse. Mark my words. IN about 40 years later, there will be no FIAT banks

itsallpc

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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?

Bitcoin would exist.But at the same time,banks too would exist.Banks consider bitcoin as their main rival.Even in future,due to market pressure,banks too would start to provide services in bitcoin.Banks provide service to customers and they may start accepting bitcoin payments to satisfy their customers.

nethead

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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...

erickkyut

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Quote from: ?? on ??

Quote from: 8Habits on June 12, 2017, 07:58:49 PM

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.

You are correct there mate! As long as there is a fiat money in existing, banks will always be there. It will really not disappear anytime soon. It will however, coexist with bitcoin though.

Banks are the strongest financial institution that we have since a long time and those are too big in the size and have support from the government and comparatively biitcoin is too small so banks are not going anywhere in future.

Yes banks are one of the biggest institution in the world that has been part of the society eversince it begins. Bitcoin cannot make it disappear because it is very centralized and we even have a world bank. It is regulated by the government worldwide.

8Habits

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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.

You are correct there mate! As long as there is a fiat money in existing, banks will always be there. It will really not disappear anytime soon. It will however, coexist with bitcoin though.

Celsiuss

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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.

Aztek

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Quote from: neochiny on January 12, 2016, 01:58:44 AM

I think banks will not disappear.
They can change or can work with bitcoins.
but they will never disappear as fiat will never disappear too.
If fiat comes to the point that has no use already,
then thats the only time that banks can disappear.
But as i have said, its impossible.

Before thinking on the possibilities of bitcoin on making banks disappear when need to think what is the differences of the two. Bank and bitcoin is both a different denominator if we are going to compare the both side. Banks do have system where it needs fiat to move and to earn. While bitcoin is a way better currency like fiat so in other terms the common of the two is fiat. Their difference in all side but fiat make them somehow related to each other. I do not see bitcoin making bank disappear rather i can see that bank may accept bitcoin in the future for transaction like fiat system.

Theb

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Quote from: bitbob82 on June 12, 2017, 07:43:27 AM

Quote from: rikybrosh on June 11, 2017, 10:50:44 PM

Quote from: Unknown Enforcement on June 11, 2017, 09:29:07 PM

No bitcoin cannot make bank disappear i think bitcoin might need bank in the future to store paper wallets right?
And its the opposite of bitcoin "centralized" so we need to make it balance.

I don Think so, I am Sorry but we do not need bank to store our bitcoin because even online wallet is quite save. I suggest You to use hardware wallet to save a big amount of bitcoin. I think Bank usage will be decrease becouse of bitcoin.

i also no in favour of bitcoin banks, i do not want to follow traditional banking system, to visit a bank and widthraw money. i want to continue the present of online wallet which is more easily and easy to use. so we do not need for any bitcoin bank.

The chances are slim to none. I mean I don't see any scenarios of banks accepting Bitcoin in the future. We all know that it is a decentralized currency in which even governments have no control of, this can be a red flag for banks with all the legal issues involve with it. Banks are really a secure business in which they want the sure and guaranteed way of success which I am pretty sure they will be sticking to Fiat Currency to the test of time.

bitbob82

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Quote from: rikybrosh on June 11, 2017, 10:50:44 PM

Quote from: Unknown Enforcement on June 11, 2017, 09:29:07 PM

No bitcoin cannot make bank disappear i think bitcoin might need bank in the future to store paper wallets right?
And its the opposite of bitcoin "centralized" so we need to make it balance.

I don Think so, I am Sorry but we do not need bank to store our bitcoin because even online wallet is quite save. I suggest You to use hardware wallet to save a big amount of bitcoin. I think Bank usage will be decrease becouse of bitcoin.

i also no in favour of bitcoin banks, i do not want to follow traditional banking system, to visit a bank and widthraw money. i want to continue the present of online wallet which is more easily and easy to use. so we do not need for any bitcoin bank.

stompix

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Blackjack.fun

Quote from: alevlaslo on June 12, 2017, 05:12:16 AM

Only a managed coin, like the ETH, will be able to interest banks

Yeah , a scamcoin might suit a falling bank.

Quote from: pacifista on June 11, 2017, 11:21:05 PM

Banks will never disappear cause its a place where you can save your money for safety purposes. And bitcoin can never do that thing,maybe banks will accept bitcoin, im thinking you can open a bitcoin account on banks.

Out of all the reasons banks might not disappear you choose this one.
That's the whole damn purpose of bitcoin. To store you money yourself. To avoid a 3rd party.

Why would you store your bitcoins in a bank?
So the bank can go bankrupt and to see your deposits gone?

alevlaslo

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Only a managed coin, like the ETH, will be able to interest banks

akar87

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$CYBERCASH METAVERSE

Bitcoin will not make banks disappear. And it seems impossible, because banks are the first hand government for distribution of money. And although bitcoin very popular with a very large marketcap, it doesnt interpret bitcoin will be used by all peoples around the world. Because bitcoin isnt necessarily spread evenly.

alevlaslo

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Could, but the banks will not give

https://bitcointalk.org/index.php?topic=421615.129700

Konthol Ngaceng

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I think not, it is because the bank will always fully supported the Government, all the financial policy course through banks and economy without a bank will be dead and not moving.

youdacapt

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GOD is TRUE

Quote from: orions.belt19 on June 12, 2017, 01:55:08 AM

I don't think so. Bitcoin may be a new and convenient currency, but I don't think it could totally replace banks as a whole. Bitcoin is not tangible and stable. There are still some things that banks can do which bitcoin cannot provide. Not all transactions can be done online so unless new innovations are underway that would substitute the functions of a bank, it may not disappear just yet.

Bitcoin will continue to develop itself over time, including developing independent banking applications. If at any time, bitcoin is not immediately endorsed by the government then it is feared they will miss an important moment in controlling cryptocurrency. In this case bitcoin can make banks lose customers and disappear, humans will eventually recognize bitcoin with or without regulation.

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