Can Bitcoin make Banks disappear? - page 131.

MB boss

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Quote from: Pattart on May 07, 2017, 08:26:53 AM

Quote from: Hobo66 on April 28, 2017, 10:08:03 AM

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

stripykitteh

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Quote from: ilovefeetsmell on May 07, 2017, 10:40:43 AM

Quote from: Rude Boy on January 11, 2016, 10:09:46 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.😀

I am pretty sure that Banks will have a point where they begin to accept Bitcoin then they will rely on Bitcoin to be one of the Currencies that allow them to make money on interest and transactions. When a whole bunch of Banks allow Bitcoin to be used in their payment systems then they will begin to lose money when Bitcoin crashes eventually, it is going to happen and not many people that use Bitcoin actually realize this.

Theb

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Quote from: ilovefeetsmell on May 07, 2017, 10:40:43 AM

Quote from: Rude Boy on January 11, 2016, 10:09:46 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.😀

Are you even basing your assumptions with facts? Because last time I check banks are one of the richest entities in the whole world even companies such as Windows and Ferrari have a debt with the banks. And you are thinking a currency will replace such entity? If they see Bitcoin as a threat they can surely adapt, but I don't think the first one to do an action are banks but the government itself.

ilovefeetsmell

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Quote from: Rude Boy on January 11, 2016, 10:09:46 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.😀

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Quote from: iqlimasyadiqa on May 07, 2017, 08:30:30 AM

If bitcoin has been officially recognized by the government then bitcoin can be a very powerful medium.
A conventional bank will be defeated and many people will use bitcoin. Bitcoin is a very simple technology that can attract many users.

Japan has already recognized and legalized bitcoin and more countries will start following that path,bitcoin is a powerful mode of transaction even without the help of any governments,the change that happens is that more investment will pump into it and thereby the price will increase but does that not necessarily have any impact on conventional banks as people will be using them .

iqlimasyadiqa

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If bitcoin has been officially recognized by the government then bitcoin can be a very powerful medium.
A conventional bank will be defeated and many people will use bitcoin. Bitcoin is a very simple technology that can attract many users.

Pattart

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Quote from: Hobo66 on April 28, 2017, 10:08:03 AM

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

batang_bitcoin

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Quote from: kusyai on May 07, 2017, 07:55:43 AM

Yes banks and wallets are different, Banks hold paper currency while wallets hold internet currency.
But when bitcoins will become so mature that they overrule all the currency and paper currency which bank holds have very little or low value, only then bitcoins will replace the Banks.

I don't believe that bitcoin can make the banks disappear. If there will be a chance that the paper currency will be low valued still they will not going to give up and they are connected to the government. Because they are trusted by the government and gov't will not going to take the chance of using bitcoin as our personal bank accounts.

Hypnosis00

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It's very impossible for bitcoin to make banks disappear by just being accepted in many parts of the world because bitcoin is still a digital currency and there is a lot of fiat currency to beat and bitcoin also has a limited capability to supply its users so it will not make the banks disappear.

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So right now if I want a loan I go to the bank.

If bitcoin somehow would manage to replace banks , to whom I go to take a loan?
The statue of Satoshi? I call the blockchain?

Banks have been around even when we had gold and silver coins, they will still be around with bitcoin also.

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good joke but never can do that

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Yes banks and wallets are different, Banks hold paper currency while wallets hold internet currency.
But when bitcoins will become so mature that they overrule all the currency and paper currency which bank holds have very little or low value, only then bitcoins will replace the Banks.

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Quote from: 8Habits on May 07, 2017, 05:39:30 AM

Quote from: Hobo66 on April 28, 2017, 10:08:03 AM

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

You are just joking, right mate?

Of course, if it happens, not during this generation or the next few generations to come. We know for a fact that there are limits as to how many bitcoins are going to produce and once it is met, no more new bitcoins and we just utilize the existing ones.

He must be joking or he has no idea how big the banking industry is, with the combine coins in crypto currencies we cannot beat the banking industry so its's impossible to make bank disappear. Right now, we need to think positive but should remain realistic, bitcoin will grow but up to a certain limit and that limit does not allow to be more superior than banks.

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Quote from: Hobo66 on April 28, 2017, 10:08:03 AM

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

yes you are right that bitcoin is gaining more and more value and popularity but i don't think that bitcoin will make banks disappear because banks are for fiats and the popularity of fiats as compare to bitcoin is much greater and also if the bitcoin gain such popularity in future then i think banks will accept and use bitcoin also like the fiats.

8Habits

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Quote from: Hobo66 on April 28, 2017, 10:08:03 AM

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

You are just joking, right mate?

Of course, if it happens, not during this generation or the next few generations to come. We know for a fact that there are limits as to how many bitcoins are going to produce and once it is met, no more new bitcoins and we just utilize the existing ones.

Hobo66

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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

Baby Dragon

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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.

ezehy2014

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Quote from: danherbias07 on April 02, 2016, 10:55:09 AM

Quote from: bamboylee on April 02, 2016, 06:28:17 AM

We still need the bank to convert bitcoin to fiat. There are still merchandize we cannot buy thru bitcoin, so we need to convert. Without the bank, this cannot happen.

Great thinking and that is correct. I do that also using those banks as a mean of exchanging my bitcoin in fiat.

Bitcoin is great but those banks also have a use in different countries that is why they are there. No need to make it disappear just join it.

it can still disappear, like change form
Because if i can virtually do everything i want in bitcoin then why would i need fiat?

paul gatt

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Quote from: Apened on April 27, 2017, 12:49:06 AM

Quote from: Sir Paijoe on April 26, 2017, 09:18:47 PM

If the official State-approved bitcoin then I bet the bank will disappear. the problem is there hasn't been a country that officially approved the use of bitcoin so banks will continue to exist.

I think approving bitcoins is cant make the downfall of banks because there are many of old people who doesnt use or want to use bitcoins in banking so they will still use local banks .The effect of approving will make the banks customer decrease .

Bitcoin really can not crash the banks. However, the reason you give is not exactly correct. Because, although bitcoin grows strong, however, its value is always regulated by cash resources managed by banks. Thus, bitcoin is more dependent on banks than against banks.

Theb

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I don't think so. Right now with its current trend rolling, I can only see that Banks would not even bother having Bitcoin on the sideline. Why? Because until now even though it is widely popular across the world you can't yet consider Bitcoin as a global currency in which not even 10% of the world's population is using it. Also even other people convert their Bitcoin via Bank Deposit. Banks are big companies in which they know how to adapt the changing world, banks not taking action to Bitcoin means that they don't recognize Bitcoin as a threat.

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