Can Bitcoin make Banks disappear? - page 126.

lisa255

sr. member

Activity: 259

Merit: 250

Quote from: Blackwhite69 on May 30, 2017, 01:26:22 PM

Quote from: arbitrag3 on May 29, 2017, 12:10:33 PM

I don't think banks will ever disappear because rather than just putting your money under a bed, you get interest keeping it in the bank, so to put their money into someone's hands under a contract with interest is profitable for both parties, so they manage their money for them so if they screw up they can have someone to blame to but them.

I disagree with you because In the presence of bitcoin can multiply finances.... Wink

To invest your money in bitcoin is much more vigilant than putting them in the bank at interest. Banks do not give you much to earn on this. Their calculation is very accurate.
The bitcoin on the contrary will help you get rich.
Banks should disappear

MCS23

full member

Activity: 171

Merit: 100

Quote from: Blackwhite69 on May 30, 2017, 01:26:22 PM

Quote from: arbitrag3 on May 29, 2017, 12:10:33 PM

I don't think banks will ever disappear because rather than just putting your money under a bed, you get interest keeping it in the bank, so to put their money into someone's hands under a contract with interest is profitable for both parties, so they manage their money for them so if they screw up they can have someone to blame to but them.

I disagree with you because In the presence of bitcoin can multiply finances.... Wink

I understand all the aspirations and hopes and every user also of every person on Earth that banks can fail and all will be the merit of Bitcoin. But still no one said how this will happen and it's not that the banks are strong. But the fact is that Bitcoin is also the same currency that banks are dealing with.

lukmandog

sr. member

Activity: 630

Merit: 250

Bitcoin will not make bank disappear, but bitcoin will be an example for banks in terms of technology. Banks in world will apply the best technology, to easily serve public finances and run government programs.

Blackwhite69

sr. member

Activity: 560

Merit: 250

Quote from: arbitrag3 on May 29, 2017, 12:10:33 PM

I don't think banks will ever disappear because rather than just putting your money under a bed, you get interest keeping it in the bank, so to put their money into someone's hands under a contract with interest is profitable for both parties, so they manage their money for them so if they screw up they can have someone to blame to but them.

I disagree with you because In the presence of bitcoin can multiply finances.... Wink

arbitrag3

newbie

Activity: 17

Merit: 0

I don't think banks will ever disappear because rather than just putting your money under a bed, you get interest keeping it in the bank, so to put their money into someone's hands under a contract with interest is profitable for both parties, so they manage their money for them so if they screw up they can have someone to blame to but them.

nethan1btc

sr. member

Activity: 574

Merit: 250

Quote from: Kasabus on May 29, 2017, 03:00:32 AM

Quote from: DarkIT on May 29, 2017, 01:41:51 AM

Maybe it's impossible, but I think bitcoin can make a lot of people look for it and make people forget the bank as the main storage. Well, in bitcoin, maybe you can save the money you have, and also can serve as an investment tool simultaneously.

My focus now is to save bitcoin, I don't mind what people will think about how powerful bitcoin for them, I will remain
realistic and still believe that we are under the present rules of the government, we need their support.

Saving bitcoin is a wise choice and I appreciate that idea because bitcoin power nowadays will certainly influencing a lot of people, not just western culture but mostly in asian race. Banks were so important if it comes to money particularly on what you have saved on your account, and through bitcoin that money you have in the bank will grow eventually from bitcoin as your sources of digital wealth. There's no reason to make banks disappear specially these days of bitcoin progress of price break through on the marketplace price value.

Kasabus

hero member

Activity: 2814

Merit: 576

Quote from: DarkIT on May 29, 2017, 01:41:51 AM

Maybe it's impossible, but I think bitcoin can make a lot of people look for it and make people forget the bank as the main storage. Well, in bitcoin, maybe you can save the money you have, and also can serve as an investment tool simultaneously.

My focus now is to save bitcoin, I don't mind what people will think about how powerful bitcoin for them, I will remain
realistic and still believe that we are under the present rules of the government, we need their support.

DarkIT

sr. member

Activity: 1176

Merit: 252

Maybe it's impossible, but I think bitcoin can make a lot of people look for it and make people forget the bank as the main storage. Well, in bitcoin, maybe you can save the money you have, and also can serve as an investment tool simultaneously.

Xenophoto

hero member

Activity: 826

Merit: 502

Quote from: mike1183 on May 29, 2017, 12:03:59 AM

I don't think so, banks are a very important part of the economical system right now, not just holding money but the act of receiving, lending, getting money+ Profit and giving the capital and part of the profit to the person.. The most important part of the cycle are the merchants getting loaned since this is the base for everything from real-estate construction, even to large companies.

If that's the sole reason why bitcoin cannot make banks disappear, then I think it's absurd since bitcoin can do all of that. It can be a huge part of the economical system too. Holding money? Sure. Receiving, sending, lending, getting profit? All of that can be done with bitcoins. And bitcoin is much more than that, that's why cryptocurrencies tend to succeed in the future.

Loans? Oh, that's easy too. Thinking that the other person might just run away? Don't worry. If we follow the same procedure (i.e. getting personal info of the borrower) and have a valid collateral, then no problem at all.

mike1183

newbie

Activity: 42

Merit: 0

I don't think so, banks are a very important part of the economical system right now, not just holding money but the act of receiving, lending, getting money+ Profit and giving the capital and part of the profit to the person.. The most important part of the cycle are the merchants getting loaned since this is the base for everything from real-estate construction, even to large companies.

Japinat

hero member

Activity: 3052

Merit: 685

Quote from: BeGoods on May 28, 2017, 04:01:26 PM

Quote from: marlonjhon on May 20, 2017, 08:08:47 AM

I think that will be impossible, they will adapt to the new reality and adopt the new technologies only when they are mature

I think it is impossible to make the bank disappear. Because the state finances depend on the bank. I think just because the popular bitcoin does not mean it will make the bank disappear

Bitcoin is cannot even compete with banks since it is not a money at all, it's just a payment system where we convert fiat to bitcoin and vice versa but it will always end up with fiat since bitcoin alone has no value in this world. Even holding bitcoin gives a bigger risk to the holders as anytime the value might disappear and it is possible since everything in this world is controlled by the government.

BeGoods

legendary

Activity: 1372

Merit: 1008

Quote from: marlonjhon on May 20, 2017, 08:08:47 AM

I think that will be impossible, they will adapt to the new reality and adopt the new technologies only when they are mature

I think it is impossible to make the bank disappear. Because the state finances depend on the bank. I think just because the popular bitcoin does not mean it will make the bank disappear

slapper

legendary

Activity: 1946

Merit: 1100

Leading Crypto Sports Betting & Casino Platform

Quote from: Dite1989 on May 28, 2017, 02:49:20 PM

Banks won't disappear. They, too, are researching blockchain technologies. Bitcoin proved that there could be a financial network without banks, but banks are just too important in society to disappear.

as long as they keep following the centralized system, they can never understand the blockchain. WEll, but we have to admit that bank can not easily disappear and they will still keep existing

Dite1989

full member

Activity: 210

Merit: 100

E᙭OTIᑕ ♥ ᑕOIᑎS

Banks won't disappear. They, too, are researching blockchain technologies. Bitcoin proved that there could be a financial network without banks, but banks are just too important in society to disappear.

artows21

sr. member

Activity: 322

Merit: 250

I don't think any crypto currency will totally replace banks to the point where they don't exist.
I do however believe that their prominence and power will be drastically reduced in a similar fashion to that of record labels and the introduction of torrenting and youtube and the likes. prior to the internet era, record labels were practically a necessity, at least if you wanted to make it any ways big.

They had a monopoly on the music industry. you didn't succeed if they didn't want you to.
Now, they are still in existence, but they have little power or influence. crypto will do similar to the banks, clearing houses and all sorts of industries that we likely cant even fathom yet.

choppork

hero member

Activity: 588

Merit: 500

Quote from: Shinze on May 28, 2017, 03:22:50 AM

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 think this is difficult. because, Btc is merely a currency. If developed to the maximum and accepted by the government, btc can only be used as widely as conventional currencies and will not replace them. In addition, the government will not let their banking system to be wiped out by btc. So, that btc make banks disappear can not happen.this is only my view.

I don't think you should use "merely" since bitcoin is not just a currency. It's a speculative asset. It can be viewed as a share of the total company's stock. It can be seen as a token which you can convert to become fiat. Bitcoin is actually not much of a currency since people are using it because we think that the price will go up. Bitcoin also unlocked tons of possibilities. It has caused a major paradigm shift to the people that's been earning too little from their day jobs. It's concept alone is enough to know that bitcoin can sure has a solid support from the people and if it goes mainstream and the truth behind fiat money not being by gold anymore goes mainstream as well, it will wake up the majority of people and turn their backs on their government.

Boseda

sr. member

Activity: 448

Merit: 250

Well, banks has more uses besides sending and receiving money. They are used for investments, for loans and for leasing.

Yet I think cryptocoins, as well as online crowdfunding platforms, have the power to make banks weaker and weaker. Their disappearance won't be a quick process, though.

Pattart

hero member

Activity: 1190

Merit: 500

Quote from: marlonjhon on May 20, 2017, 08:08:47 AM

I think that will be impossible, they will adapt to the new reality and adopt the new technologies only when they are mature

I think it's impossible to happen. See the government banning the use of bitcoin. And banks will surely comply with government regulations. Which definitely the bank will not

Shinze

newbie

Activity: 13

Merit: 0

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 think this is difficult. because, Btc is merely a currency. If developed to the maximum and accepted by the government, btc can only be used as widely as conventional currencies and will not replace them. In addition, the government will not let their banking system to be wiped out by btc. So, that btc make banks disappear can not happen.this is only my view.

Blitzboy

hero member

Activity: 1316

Merit: 561

Leading Crypto Sports Betting & Casino Platform

Quote from: marlonjhon on May 20, 2017, 08:08:47 AM

I think that will be impossible, they will adapt to the new reality and adopt the new technologies only when they are mature

I do agree so. Banks are very important to our world. In fact, we still need something to control us in order for us to obey the rule and do not do anything silly, dumb, steal other money or kill other people. Bitcoin and bank will both exist in the future

Topic: Can Bitcoin make Banks disappear? - page 126. (Read 427614 times)