Topic: Can Bitcoin make Banks disappear? - page 124. (Read 427614 times)

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.

Perhaps, will banks start accepting, holding and issuing bitcoin?

They hold the regulatory structure of holding and transacting currency, but they could add bitcoin to their portfolio?

The state desperately needs a bank, the bank is not just to save money. But more than that, the bank also regulates state finances. And it can not be done with bitcoin

depend on the bank credential btc can be use by bank but i think they well open once this digital money is popular to local. so far people rely on the paper money.. i don't see any tv ads regarding btc. they just spreading the news on the cyber world. =)

I think it's stupid to think if the bank will disappear because bitcoin becomes popular. Although bitcoin is popular and has a high price even though it will not make the bank disappear

Yes I agree.  It will never disappear or it could happen maybe after a hundred years when all people knew about digital currencies.  But for now, like what you said, older people would not waste studying bitcoin or would not mind to know about the bitcoin.  Plus the fact that not all people around the world do not know still about the bitcoin since it is digital.  Not all places have electricity, computers, and internet.

Definitely NO.
Because not all people can adopt Bitcoin especially our elders. They will not waste their time studying in a long term.
Bank will change or adopt other technology but it will not dissapear.

Exactly, when a transaction bitcoin is larger than bank, and most transactions are switched to bitcoin, the bank will disappear. But I am not sure this will happen soon, because bank still dominate the world transactions.

currently its look like so that bitcoin will not disappear banks but it will be depending on the users and interest of its users, if the users of bitcoin are increasing too much and if they have the facilities of using bitcoin as currency, then there are more chances that bitcoin will disappear banks but it will certainly take a lot of time.

yes in short term it is not going to disappear banks but in long term when all the people of the world will start using bitcoin, even the backward countries adopt bitcoin may be then it become possible that bank become disappear but I think it is really looking difficult in present time. but in future there at some possibilities about that.

Banks will always be needed by crowd for their financial activities, bitcoin cann't handle all. Bitcoin is popular, but bank stronger because its protected by government.

Bitcoins cannot let banks disappear. The only possible thing is bitcoin maybe adopted by most banks in the near future and not necessarily collapsing the banks as you were saying. BTW I stand to be corrected tho

yes you are right that bitcoin cannot make banks disappear because banks are for fiats and everyone in the world know about fiats and bitcoin has introduced about ten years ago and everyone do not know about bitcoin, however if the bitcoin gain the popularity like fiats then it is possible that banks accept and adopt bitcoin in future.

You're being delusional. First of all, the "group of people" that have never used the banking system in their own lives are extremely low in the city where most people are. I might be wrong population-wise but these people just don't have that much money so they never took interest to open a bank account even if it's for free. They probably also don't have a day job since most day jobs pay you directly to your account and not in cash.

Stop deluding yourself that banks are going to accept bitcoins and the volatility of bitcoin will destroy banks. No bank that's controlled by the government will just start accepting bitcoins. They will start thinking of accepting bitcoins only when most establishments already do. Bitcoin is a serious matter since bitcoin removes the trusted third party from our transactions and that's exactly what banks are.

I think it can't banks disappear because banks is build first than bitcoin. Maybe in near future if bitcoin is famously know by people, some banks can be closed cause of high demands of bitcoin in future.

yes that is right  in near future it may not be possible but in far future when all the users fo bitcoin wll stat accepting bitcoin and when they wll start using bitcoin for online purpose and when government will consider  bitcoin as legal currency then it may be possible that bitcoins will disappear banks.

Banks will not disappear, Because there will always be people who will depend on the Bank... because Bank which controlling Fiat. Many people who do not have the ability to use Bitcoin and they are loyal with Fiat.

No, I highly doubt it.

Bitcoin is a system that aims to facilitate transactions without the need for a bank.

People tend to overlook the fact that anywhere where one transacts value in different forms inevitably forms an economy. There shall be tools and factors that influence this economy to cultivate it. Banks are just one of the factors that influence economy. Banks run within a different kind of economy. Banks are designed to safeguard people’s money, lend the same money to people that need them to collect interest and eventually have the money rotated within to generate maximum value per rotation.

Bitcoin’s economic model differs from that of a bank.
Cryptocurrencies (bitcoin) might solve a problem that banks do too.

 Banks are subject to inflation

Demand shall dictate the value of Bitcoin and given that value is being generated in each round of rotation, the value of Bitcoin shall only increase. Bitcoin isn’t affected by government laws and has a capped supply which keeps its motive in alignment with that of its token holders.

Both are sustainable in the long run as they cater to different economies.

Bitcoin and Banks are catering different sections of our society.
Sure, one might hamper another, but I don’t think it is enough to erase one’s need to our society.

And I think that they can also co-exist with one another, remember that this is not some kind of competition and they are actually good with one another, How? Some Bitcoin Wallet Apps have the option to convert your Bitcoin to Fiat straight into your Bank Account which is a convenient way for both. Also we all know that without Fiat, Bitcoin will not be existing right now. Banks are backed up by our government and I don't think they would let something like this happen.

Banks will not disappear because of intervention from the government that requires the authorization of financial institutions currently controlled by fiat. Bitcoin is a cutting-edge technology for future projects, if we discuss this for now it will not be suitable, but in the future bitcoin will take the world's financial influence and inevitably banks have to adapt this technology.