Can Bitcoin make Banks disappear? - page 123.

Fatanut

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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.

So what exactly is your point? Somebody can do this in bitcoins as well. You can get a loan and follow the same procedure with bank loans. In bank loans, you need a collateral or a good business plan. Along with these, you also have to submit your whereabouts. There can also be a trusted company that offers bitcoin loan to people. Insurance, car loans, housing loans, all of them can be in bitcoin form.

Bitcoin is much more than a currency. Bitcoin can perform all of the things a bank can (or perform even better to some extent). Online banking? Bitcoin got that.

eann014

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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.

Yaupgitda

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Quote from: nuela on June 03, 2017, 10:37:59 AM

If bitcoin can eliminate the banks I'm sure it is, it only takes a while to clear the banks. And everyone will know what the BTC is, I am just concerned that my country knows very little about bitcoin.

I think the bitcoin can let the banks make more profit as the cost of running bitcoin based system is lower.

nuela

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Blocklancer - Freelance on the Blockchain

If bitcoin can eliminate the banks I'm sure it is, it only takes a while to clear the banks. And everyone will know what the BTC is, I am just concerned that my country knows very little about bitcoin.

Eclipse26

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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 dont think so that bank will be disappear because it is strongly build. I can say that bitcion will defeat bank but it can never disappear it. Bank will stay even bitcoin is much popular. There are still people who will choose bank that bitcoin especially for those who didn't understand what bitcoin is.

killed

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I do not think bitcoin will make the bank disappear. Banks have many differences with bitcoin. The bank is present to protect the ownership of the customer's cash at any given time and lend to those in need.

Xenophoto

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Quote from: lemipawa on June 03, 2017, 12:02:50 AM

My take on this is NO and actually with the connections of Banks to politicians, Banks can lobby to make Bitcoins illegal and disappear. In my Country, if big Bank is threatened by a new Bank with its promotions and if they feel a new Bank is a threat and can get more clients, big Banks will try to buy them out or worse create a negative news to bring them down. This can happen to Bitcoins too.

Another example of this is Facebook buying Whatsapp. Whatsapp is getting more and more recognition and Facebook decided to just buy them out. While this is actually existing in real life, that doesn't mean that it will happen with bitcoins. How can you buy out bitcoins? Buying all the bitcoins in exchanges will pump the price of bitcoin. That will make bitcoin holders rejoice and make bitcoin stronger as ever as it finally have a solid foundation. Surely the banks will not just dump it all for a lower price.

And for spreading negative news, bitcoin is used to that. Everyone is aware of all those drug activities that happened on Silk Road and might still even happening somewhere in the dark web. Perhaps this bad reputation of bitcoin has a silver lining after all.

Blamsud

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Quote from: Dontme on June 03, 2017, 08:07:09 AM

No! Bitcoin will never have a power to do that. Yes people may like bitcoin but they will prefer to save money in the bank. Bitcoin will stay or cryptocurrency will stay but they will never make bank disappear.

its hard to make bank disappears but it can lessen bank users since some mighy btc more beneficial.

Dontme

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No! Bitcoin will never have a power to do that. Yes people may like bitcoin but they will prefer to save money in the bank. Bitcoin will stay or cryptocurrency will stay but they will never make bank disappear.

DoublerHunter

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Quote from: DevilSlayer on June 03, 2017, 01:25:27 AM

Of course no. Banks is always there and now they are supporting the bitcoin. The bank will never disappear in our world. Bank and bitcoin are partner in the crypto world.

Bank will stay as well as bitcoin or any type of cryptocurrency but they will not become a partner and help each other because bitcoin is anti fiat and that is why satoshi nakamoto created bitcoin because he hate fiat because of inflation and also high fees and unsecured transactions that has been made a lot so satoshi nakamoto tried to fix that and he will never like to be partner with the banks.

DevilSlayer

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Of course no. Banks is always there and now they are supporting the bitcoin. The bank will never disappear in our world. Bank and bitcoin are partner in the crypto world.

Senja Kemuning

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When the use of the bitcoin's getting massive, many opinions that say bitcoin will make banks disappear, I think is not possible because the bank is relevant will continue to adapt to the times.

Finestream

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Quote from: batang_bitcoin on June 03, 2017, 12:11:53 AM

Quote from: nexttime on June 03, 2017, 12:08:28 AM

I think it's impossible because bitcoin is just a currency so it can not replace it all. I think it's impossible because bitcoin is just a currency so it can not replace all other traditional currencies .. so the government Will not let the banks be deleted.

It's not just a currency because many of us treats bitcoin a an asset and investment. But it's really not going to happen that bitcoin will replace or make the banks disappear. Though that's one of the reason why bitcoin was created to avoid centralization and other fees as well. Government is supporting banks and they are behind it.

By fully understand bitcoin we will never think that it will replace bank or the cash system, it is clearly created as a tool to make a faster transaction and hence no value if it is not use by the people. The government has the control over in this world and they can make a law that might be favorable or unfavorable to bitcoin but regardless this will not result to eliminating banks in the system.

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Quote from: Lubang Bawah on April 07, 2017, 01:47:33 AM

If anyone says banks disappear because of the bitcoin, then emphatically I say it was impossible, that could make the banks disappear is the government policy not another.

Not mentioning that billions of people are using banks and there are million of banks and it's branches across the globe, and very well said as long as government don't approved or ruled out the " banks should disappear ", it will remain as banks even if Bitcoin is so popular.

Quote from: hawkins on April 07, 2017, 08:55:45 AM

bitcoin is currently not big enough and reliable for all communities. bitcoin might be able to compete with the bank, but I think bitcoin will not be able to make the banks disappear, because the bank is something big, and reliable is needed by the community.

If bitcoins price will be at least 100million dollars it maybe can sustain the world supply and coexist with fiat, but we have a very very long way to go before banks will accept that Bitcoin reign is coming and their fiat is outdated.

Caelanpelley

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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 don't think the bank will probably disappear if bitcoin development. We need banks to transact, saving. The bank has its own function and used to convert currency between countries.

batang_bitcoin

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Quote from: nexttime on June 03, 2017, 12:08:28 AM

I think it's impossible because bitcoin is just a currency so it can not replace it all. I think it's impossible because bitcoin is just a currency so it can not replace all other traditional currencies .. so the government Will not let the banks be deleted.

It's not just a currency because many of us treats bitcoin a an asset and investment. But it's really not going to happen that bitcoin will replace or make the banks disappear. Though that's one of the reason why bitcoin was created to avoid centralization and other fees as well. Government is supporting banks and they are behind it.

nexttime

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. I think it's impossible because bitcoin is just a currency so it can not replace all other traditional currencies .. so the government Will not let the banks be deleted.

lemipawa

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My take on this is NO and actually with the connections of Banks to politicians, Banks can lobby to make Bitcoins illegal and disappear. In my Country, if big Bank is threatened by a new Bank with its promotions and if they feel a new Bank is a threat and can get more clients, big Banks will try to buy them out or worse create a negative news to bring them down. This can happen to Bitcoins too.

_Legendary_

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Quote from: mrayazgul on June 02, 2017, 05:13:26 PM

Quote from: guoyu78 on May 31, 2017, 05:59:25 PM

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 with you that bitcoin will never disappear the bank because we now that bank play very important role in their country and we know that bank controlling the fiat money and if everyone adopt the bitcoin and any local shop accept the bitcoin then i hope bitcoin will down the bank.

Banks has too large networks and most f the multinationals are involved in the banking world and half of the world revolve around the banks. Its not to easy to just get of banks and get bitcoins instead.

And that became the most important points are covered in full by the Government, all the Government's financial policy will use the banks, I think the banks can not disappear, perhaps someday accept bitcoin.

Kasabus

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Quote from: mrayazgul on June 02, 2017, 05:13:26 PM

Quote from: guoyu78 on May 31, 2017, 05:59:25 PM

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 with you that bitcoin will never disappear the bank because we now that bank play very important role in their country and we know that bank controlling the fiat money and if everyone adopt the bitcoin and any local shop accept the bitcoin then i hope bitcoin will down the bank.

Banks has too large networks and most f the multinationals are involved in the banking world and half of the world revolve around the banks. Its not to easy to just get of banks and get bitcoins instead.

The world is not fair, as long as there are people in the government who protect their personal interest we cannot win.
banks are big you are right mate and they are fully protected by the government and they monitor and supervise the whole
financial system of the government.

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