Author

Topic: Can Bitcoin make Banks disappear? - page 130. (Read 427614 times)

full member
Activity: 1489
Merit: 150
May 08, 2017, 12:25:19 PM
World and technology are very advanced right now. However, that does not mean the bank will disappear, instead the bank will innovate with this progress. Banks are needed by every country and its citizens.
hero member
Activity: 490
Merit: 500
May 08, 2017, 12:08:33 PM
Banks will change or go under but they won't go away. They will always find some service to provide that someone else will want to buy.

yes, banks cannot disappear just because of bitcoin. Because there are many of people who didn't know bitcoin. Maybe bitcoin can now use as a bank for the bitcoin users but cannot replace different banks that we have.
in present time people are thinking that bitcoin cannot disappear banks yes that is right, but in modern time i think the trend of new generation is toward online business and shopping there i think most of the people will give preference to bitcoin and there the user of banks will reduce by the people and when all the people of the world will start using bitcoin then banks will totally disappear.
jr. member
Activity: 45
Merit: 10
May 08, 2017, 10:24:13 AM
Quote

yes, banks cannot disappear just because of bitcoin. Because there are many of people who didn't know bitcoin. Maybe bitcoin can now use as a bank for the bitcoin users but cannot replace different banks that we have.

Banks will continue to exist. Because banks are the circulation of economy. Bitcoin is a fiat partner in real life, different in form but has the same function that is as a means of money.
sr. member
Activity: 882
Merit: 258
★Bitvest.io★ Play Plinko or Invest!
May 08, 2017, 10:05:05 AM
Banks will change or go under but they won't go away. They will always find some service to provide that someone else will want to buy.

yes, banks cannot disappear just because of bitcoin. Because there are many of people who didn't know bitcoin. Maybe bitcoin can now use as a bank for the bitcoin users but cannot replace different banks that we have.
hero member
Activity: 1750
Merit: 589
May 08, 2017, 07:40:40 AM
Banks will not dissappear. We will still need banks as not everyone will use Bitcoin. We are already seeing banks for Bitcoin. If anything banks as we know them may have to move with the times and start bitcoin accounts. At the end of the day banks make money of our money they will want to try making money from bitcoin too.
Bank is a system of money. So you are right people needs system to support or to finance money. Bitcoin is way more different to bank, meaning that bitcoin is not a bank itself because bitcoin does not have that specific system for example its transaction and price. In bank there is need on  investing and investment which make money grow. But in bitcoin its price is an investment itself but it always follow the support of the users. For me banks will not disappear because of bitcoin but instead bank may support bitcoin for a wider scale coverage transactions and development.
sr. member
Activity: 336
Merit: 250
May 08, 2017, 07:33:35 AM
I think in our days it's impossible. First of all, some people have never even heard about this kind of money. And general financial literacy must be better. And secondly, the government is interested in banks, because it's a centralized system.
hero member
Activity: 2590
Merit: 644
May 08, 2017, 02:08:50 AM
If the use of the bitcoin has reached more than 10% of all global transactions, the bank immediately disappear. When most people turn to the bitcoin, surely there is no reason to retain the bank.
That is not how the world of financial system works. Banks will not disappear because of the usage of bitcoin because they know that they are still stronger than bitcoin and they still have a lot of users that is more than the user of bitcoin so bitcoin will not surpass bank anytime because bitcoin power is not enough to make banks disappear.
legendary
Activity: 1106
Merit: 1000
May 08, 2017, 01:23:09 AM
I don't think bank will disappear because of bitcoin, though bitcoin was established or invented as be your own bank. The financial system we have now will last for a very long time and it will be difficult for bitcoin to replace it.
The financial system won't allow bitcoin to take control of the banks or replace. Without the banking system governments could have never grown in all sectors. I believe banking system might get incorporated with bitcoin but replacement is not a possible one.
Most of the governments aren't gonna touch bitcoin even with a 10 feet pole too. They are afraid of bitcoin as it takes control of monetary system from their hands and this is what they don't want and also they are not able to tax us on the holdings of bitcoins.
What made your think they are afraid?

They have all the power and they are a strong government, anytime
they can kill the system by considering it as illegal. No way bitcoin will take over this world and replace fiat.
member
Activity: 798
Merit: 10
May 08, 2017, 01:07:02 AM
If the use of the bitcoin has reached more than 10% of all global transactions, the bank immediately disappear. When most people turn to the bitcoin, surely there is no reason to retain the bank.
full member
Activity: 173
Merit: 100
May 07, 2017, 11:35:06 PM
I don't think bank will disappear because of bitcoin, though bitcoin was established or invented as be your own bank. The financial system we have now will last for a very long time and it will be difficult for bitcoin to replace it.
The financial system won't allow bitcoin to take control of the banks or replace. Without the banking system governments could have never grown in all sectors. I believe banking system might get incorporated with bitcoin but replacement is not a possible one.
Most of the governments aren't gonna touch bitcoin even with a 10 feet pole too. They are afraid of bitcoin as it takes control of monetary system from their hands and this is what they don't want and also they are not able to tax us on the holdings of bitcoins.
sr. member
Activity: 1092
Merit: 256
Leading Crypto Sports Betting & Casino Platform
May 07, 2017, 09:58:47 PM
I don't think bank will disappear because of bitcoin, though bitcoin was established or invented as be your own bank. The financial system we have now will last for a very long time and it will be difficult for bitcoin to replace it.
The financial system won't allow bitcoin to take control of the banks or replace. Without the banking system governments could have never grown in all sectors. I believe banking system might get incorporated with bitcoin but replacement is not a possible one.
hero member
Activity: 560
Merit: 500
May 07, 2017, 09:48:07 PM
With the value of bitcoin and rate which bitcoin is excelling,
Yes bitcoin can make banks disappear, more people are getting involve with this virtual currency bitcoin.
I think bitcoin can give the banks a run for their money. Cheesy
I think banks and bitcoins are not related to each other. Although bitcoins have a very high price though. Like today. It will not disturb the bank at all



ATM bitcoins are head in terms of transaction but banks are still need by around 90% of the people as they provide more services and time than bitcoins. If small Bitcoin stores are opened then it can happen that banks are given less priority but that seems like it will take few more years . But the main thing is the price of bitcoin as it is not stable at all. So people dont want to risk their money.
hero member
Activity: 1148
Merit: 504
May 07, 2017, 09:35:53 PM
With the value of bitcoin and rate which bitcoin is excelling,
Yes bitcoin can make banks disappear, more people are getting involve with this virtual currency bitcoin.
I think bitcoin can give the banks a run for their money. Cheesy
I think banks and bitcoins are not related to each other. Although bitcoins have a very high price though. Like today. It will not disturb the bank at all

hero member
Activity: 826
Merit: 502
May 07, 2017, 05:18:56 PM
I don't think bank will disappear because of bitcoin, though bitcoin was established or invented as be your own bank. The financial system we have now will last for a very long time and it will be difficult for bitcoin to replace it.
here we are talking about the banks running by the government and not talking about the banks of our wallet.
It is said that banks will be disappeared if they will not adopt bitcoin or it is also possible that banks will continue their work as managing the financial affairs of state and other national and international organizations.
hero member
Activity: 756
Merit: 504
May 07, 2017, 05:05:18 PM
I think, banks will not be disappear. Instead, they'll start using bitcoins instead of fiat currency with some regulations like in fiat.

Of course not, they will not just disappear. But, it's better to improve their banks . Like what you are talking about, fiat currency. I think if the other banks was able to accept bitcoin, hmmmmm there's a lot of people goes there or bitcoin users to deposit a profit that we invest. Banks that accepts and converts bitcoin was nice to hear.😀
yes in present time its look like very difficult and the reason is that still a very little number of people are using bitcoin, as it is estimated that still not more that 1 % people are using bitcoin, but its users are increasing continuously.
Bitcoin cannot do this as in many countries peoples have no idea about this what is this and how is working because they have no technology for this and its need some long time and bitcoin is not used as its need to be its also need some very long time to adopt by some big fishes which is not easy job
hero member
Activity: 3080
Merit: 603
May 07, 2017, 04:56:49 PM
I don't think bank will disappear because of bitcoin, though bitcoin was established or invented as be your own bank. The financial system we have now will last for a very long time and it will be difficult for bitcoin to replace it.

Instead of making the banks disappear the bank will have time to decide if they will use the power of the government to regulate or prohibit the usage of bitcoin. But I'm sensing that it's very possible that the banks are going to accept bitcoin for their services because it's going to attract more people to get into new trend.
hero member
Activity: 980
Merit: 506
May 07, 2017, 04:17:35 PM
Yes yes that why banks having a partnership in bitcoin , bitcoin is really a threat in a bank could make and low there demand when it comes in money why we will have a physical money if we have a digital currency that is more easy to use.
partnership with bitcoin is impossible because bitcoin do not need any bank and bitcoin transaction system and wallet are too much safe and secure than bank and bitcoin transaction fees is very much low so we can say that bitcoin do not need to partnership with bank.
sr. member
Activity: 882
Merit: 282
May 07, 2017, 03:53:30 PM
I don't think bank will disappear because of bitcoin, though bitcoin was established or invented as be your own bank. The financial system we have now will last for a very long time and it will be difficult for bitcoin to replace it.
sr. member
Activity: 378
Merit: 250
May 07, 2017, 03:31:20 PM
I think, banks will not be disappear. Instead, they'll start using bitcoins instead of fiat currency with some regulations like in fiat.

Of course not, they will not just disappear. But, it's better to improve their banks . Like what you are talking about, fiat currency. I think if the other banks was able to accept bitcoin, hmmmmm there's a lot of people goes there or bitcoin users to deposit a profit that we invest. Banks that accepts and converts bitcoin was nice to hear.😀
yes in present time its look like very difficult and the reason is that still a very little number of people are using bitcoin, as it is estimated that still not more that 1 % people are using bitcoin, but its users are increasing continuously.
hero member
Activity: 658
Merit: 500
May 07, 2017, 03:10:32 PM
With the value of bitcoin and rate which bitcoin is excelling,
Yes bitcoin can make banks disappear, more people are getting involve with this virtual currency bitcoin.
I think bitcoin can give the banks a run for their money. Cheesy
Lol but in fact after they buy or sell their bitcoin and then they get a profit. What are they doing ? They withdraw their money from bitcoin to bank Lol
Yes you are right we really will need banks for withdrawal of our money even in time when everyone will use bitcoin for their profit and saving but still there is an option like maybe someone come with a new service to provide the exchange system
Physical exchanges can solve that issue if physical exchanges came from which people will buy bitcoin directly with fiat cash and will sell directly with fiat cash then it is sure that banks will be disappeared then people will not go to banks and will use only that exchanges. while if the banks started to use bitcoin and they kept their fees as lower then banks will get the strength.
Jump to: