Can Bitcoin make Banks disappear? - page 122.

calandra78

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Quote from: 1Referee on January 12, 2016, 05:37:32 AM

No. It can however make banks adopt the Blockchain as technology to give us a better and much faster banking experience. I think at some point in the future we will be given instant transactions within a certain country, and perhaps worldwide. That's the power of the Blockchain.

Yes I agree, certainly not because blockchain a better banking from the bank that processes it works longer than blockchain. it may be true if one day in the future we will be given instant transactions where we will use blockchain in a particular country and maybe even around the world will follow suit. the bank also will likely adopt the blockchain to support all transactions to make it more easy and fast.

carlerha

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Quote from: 8Habits on June 04, 2017, 09:29:17 PM

Quote from: Kisanaq on June 04, 2017, 06:51:34 PM

I think anything could happen, depending on market conditions, when there is no bank customer and everyone switched to the bitcoin and then bank will disappear soon.

For certain, it will not be sooner mate because banks have already established in our regulated financial institution. Government can easily trackdown financial transactions in fiat money versus bitcoin.

but to me the survival of the banks are only depending on the interest of the people, if people are interested in banks so banks will survive and when the interested of the people about banks will become lower then banks will not remain no more affective. but in fact banks are providing us such facilities that we currently cannot expect from bitcoin and therefore people are still preferring banks to use instead of bitcoin

kelseydustin

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Quote from: megynacuna on June 05, 2017, 04:12:05 PM

Quote from: Kisanaq on June 04, 2017, 06:51:34 PM

I think anything could happen, depending on market conditions, when there is no bank customer and everyone switched to the bitcoin and then bank will disappear soon.

But then what if the banks integrated the Bitcoin into their system and have their customers save and withdraw bitcoins from them then? Does that mean Bitcoin cannot make the banks disappear?

No one is insane enough to put their bitcoin in a bank because bitcoin is based on the decentralized system while banks are centralized. Therefore, there is no way for banks to integrate bitcoin in their system. And in the future, both of these features will exist because they have their own weakness and strength

stompix

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Blackjack.fun

Quote from: Pab on June 05, 2017, 04:06:35 PM

No why,banks can integrate bitcoin,i know from my spanish friends that thay can exchange btc in banks money machines,Spenish can withdraw his funds in almost all over the Spain three banks are offering that kind of service

Can you please name those banks?
It might be that you're mistakenly thinking exchanges are banks.
Just because they operate an atm that doesn't make them banks.

As far as I know there is no bank doing any kind of bitcoin to fiat conversion or transaction.

Quote from: Kisanaq on June 04, 2017, 06:51:34 PM

I think anything could happen, depending on market conditions, when there is no bank customer and everyone switched to the bitcoin and then bank will disappear soon.

Just let us know if banks disappear and their place is taken by bitcoin ... where will you go to take a loan?
People of then have the wrong impression that banks just process transactions and take deposits.
Surprise... there is more.

Bitcoin and banks can work together without one "killing" the other

Flodemaga

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No, banks are already thinking into some way to use bitcoin technology to save them a lot money over their inside transactions. Bitcoin isnt a real problem for banks, they provide a usefull thing the loans for over 2 years up to 50 years, the max period you will lend your coins will be for maybe 2 weeks with colateral. Besides those the world economy does use banks, and they wont change it at all, soo bitcoin isnt a problem to banks at all, even with some people using it, the money will return to banks in the end.

megynacuna

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Quote from: Kisanaq on June 04, 2017, 06:51:34 PM

I think anything could happen, depending on market conditions, when there is no bank customer and everyone switched to the bitcoin and then bank will disappear soon.

But then what if the banks integrated the Bitcoin into their system and have their customers save and withdraw bitcoins from them then? Does that mean Bitcoin cannot make the banks disappear?

Pab

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No why,banks can integrate bitcoin,i know from my spanish friends that thay can exchange btc in banks money machines,Spenish can withdraw his funds in almost all over the Spain three banks are offering that kind of service

virtualkeybuyer

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Quote from: radamiel on June 05, 2017, 12:48:14 AM

It is impossible for bitcoin to disappear the bank, the bank is one of the important instruments in the economy, the bank is where we keep the money and they will distribute or rotate the money so that the economic flow will continue to run. But maybe someday the bank will receive bitcoin as one means of payment

It is also the point that banks also work for other field of economy other than storing the money of people and giving profit so for maintaining that other things the banks will remain among us and bitcoin will also be with us.

batang_bitcoin

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Quote from: mrfreezeh on June 05, 2017, 12:06:07 AM

Quote from: batang_bitcoin on June 04, 2017, 11:41:59 PM

Quote from: Kisanaq on June 04, 2017, 06:51:34 PM

I think anything could happen, depending on market conditions, when there is no bank customer and everyone switched to the bitcoin and then bank will disappear soon.

Anything could happen but I doubt that it will happen with bitcoin. As we know banks are powerful and they are with the government. This type of scenario is not going to let happen by the superiors because big income tax will be slashed to the annual tax income of the government because of bitcoin.

In future, if all people in the World use Bitcoin (or an Altcoin) as a currencies important and cannot replace it, this can happen, but I not think it can do that easy, because Cryptocurrencies very hard managent and cannot tax fee, it not easy like as banks

The government can still tax bitcoin transactions but the disadvantage of it for the government is it doesn't have stable value. And that's why banking sector will have hard time to determine on how much will it be close to the needed taxation for each bitcoin user. Also another thing is the decentralization, they can't control the supply and demand of it, there's no way for them to reproduce btc.

rikybrosh

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Quote from: _Legendary_ on June 04, 2017, 11:19:52 PM

The use of the bitcoin only reduces the value of the transaction to the banks but the banks could not make disappear, the banks already hundreds of years and proved to be a part of human life.

Yes you right, I think bitcoin will take the most part of fintech industries transactions. But banks will not dissapear because l bank can make economy of the country more stable.

radamiel

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It is impossible for bitcoin to disappear the bank, the bank is one of the important instruments in the economy, the bank is where we keep the money and they will distribute or rotate the money so that the economic flow will continue to run. But maybe someday the bank will receive bitcoin as one means of payment

Japinat

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Quote from: batang_bitcoin on June 04, 2017, 11:41:59 PM

Quote from: Kisanaq on June 04, 2017, 06:51:34 PM

I think anything could happen, depending on market conditions, when there is no bank customer and everyone switched to the bitcoin and then bank will disappear soon.

Anything could happen but I doubt that it will happen with bitcoin. As we know banks are powerful and they are with the government. This type of scenario is not going to let happen by the superiors because big income tax will be slashed to the annual tax income of the government because of bitcoin.

If we really think of the realistic thing that will happen I believe you will not come up with that imagination, bitcoin is never superior as real money because it is only funded with fiat to make it worthy. With the government in control in this world, bank is the major financial institution for them and I don't think they will let that replace by anything not under their control.

mrfreezeh

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Quote from: batang_bitcoin on June 04, 2017, 11:41:59 PM

Quote from: Kisanaq on June 04, 2017, 06:51:34 PM

I think anything could happen, depending on market conditions, when there is no bank customer and everyone switched to the bitcoin and then bank will disappear soon.

Anything could happen but I doubt that it will happen with bitcoin. As we know banks are powerful and they are with the government. This type of scenario is not going to let happen by the superiors because big income tax will be slashed to the annual tax income of the government because of bitcoin.

In future, if all people in the World use Bitcoin (or an Altcoin) as a currencies important and cannot replace it, this can happen, but I not think it can do that easy, because Cryptocurrencies very hard managent and cannot tax fee, it not easy like as banks

batang_bitcoin

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Quote from: Kisanaq on June 04, 2017, 06:51:34 PM

I think anything could happen, depending on market conditions, when there is no bank customer and everyone switched to the bitcoin and then bank will disappear soon.

Anything could happen but I doubt that it will happen with bitcoin. As we know banks are powerful and they are with the government. This type of scenario is not going to let happen by the superiors because big income tax will be slashed to the annual tax income of the government because of bitcoin.

rikybrosh

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Quote from: _Legendary_ on June 04, 2017, 11:19:52 PM

The use of the bitcoin only reduces the value of the transaction to the banks but the banks could not make disappear, the banks already hundreds of years and proved to be a part of human life.

Yes you right, there Some banks that lose transaction from fintech industries because bitcoin is being new choice that more practical and has lower fee.

_Legendary_

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The use of the bitcoin only reduces the value of the transaction to the banks but the banks could not make disappear, the banks already hundreds of years and proved to be a part of human life.

8Habits

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Quote from: Kisanaq on June 04, 2017, 06:51:34 PM

I think anything could happen, depending on market conditions, when there is no bank customer and everyone switched to the bitcoin and then bank will disappear soon.

For certain, it will not be sooner mate because banks have already established in our regulated financial institution. Government can easily trackdown financial transactions in fiat money versus bitcoin.

Kisanaq

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I think anything could happen, depending on market conditions, when there is no bank customer and everyone switched to the bitcoin and then bank will disappear soon.

MRlong

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Quote from: Reid on June 04, 2017, 10:22:34 AM

Quote from: eann014 on June 04, 2017, 01:23:18 AM

Quote from: 0Pirats0 on May 31, 2017, 03:33:58 AM

Quote from: eann014 on May 31, 2017, 03:14:43 AM

I don't think that Bitcoin can make bank disappear at all. Because right now there are a lot of Banks that are already trusted and also usable to those who have their own company. Because Banks can also do other things than just saving money.

I agree. Bitcoin can not destroy the banks. He can only infiltrate the banking system as an alternative currency.

Yeah this is too impossible to happen at all because banks are not just by helping people saving money but also people can loan in banks, they can also have insurance, car loan or housing loan. Banks has a lot of great things they can do than bitcoin. Some other Banks has already their online banking which people can also use it easily like bitcoin. So Bank is really good that is impossible to disappear.

Yeah they will do that but because there is a purpose for that also.
Income will come to them by those services that is why they are forcing this to other people.
One more problem is we dont even have another choice. They are like the hands of the government to serve people which is actually better for them. This became traditional for people and we cant take it out from the system.

Bitcoin cannot destroy the banks, if when it can do that, I think Bitcoin in that time is a currencies important and can not replace, but it's the imagination in future, it can not happen

Reid

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Quote from: eann014 on June 04, 2017, 01:23:18 AM

Quote from: 0Pirats0 on May 31, 2017, 03:33:58 AM

Quote from: eann014 on May 31, 2017, 03:14:43 AM

I don't think that Bitcoin can make bank disappear at all. Because right now there are a lot of Banks that are already trusted and also usable to those who have their own company. Because Banks can also do other things than just saving money.

I agree. Bitcoin can not destroy the banks. He can only infiltrate the banking system as an alternative currency.

Yeah this is too impossible to happen at all because banks are not just by helping people saving money but also people can loan in banks, they can also have insurance, car loan or housing loan. Banks has a lot of great things they can do than bitcoin. Some other Banks has already their online banking which people can also use it easily like bitcoin. So Bank is really good that is impossible to disappear.

Yeah they will do that but because there is a purpose for that also.
Income will come to them by those services that is why they are forcing this to other people.
One more problem is we dont even have another choice. They are like the hands of the government to serve people which is actually better for them. This became traditional for people and we cant take it out from the system.

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