Topic: Can Bitcoin make Banks disappear? - page 132. (Read 427614 times)
As of now still, it was a dream that bitcoin can disappear banks, there are many aspects that come into consideration when bitcoin disappears banks. Now many people are showing interest towards bitcoin, but it is not impossible to disappear the banks.
35% of US citizens are ok for a cashless society, 40% of transactions are done using a debt card. And the percentages keep growing. So it mean people are interested by the solutions given like cards, mobil wallet, ect. Bitcoin can also be a solution for a cashless society, so bank may adapt it in their solution, otherwise they can risk to lost a lot of transactions and so customers if they don't adapt their method to the new generation.
Wau bitcoin has a rival that makes it disappear
is that possible?
is that possible?
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 . 
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 hope of course that Bitcoin will be more popular and more used. But it will only reduce banks and not disappear. Many people need some normal banks too. And that is very important for them. we need banks and fiat in our daily lives to purchase physical goods, foods and anything in the store..If bitcoin would be widely adopted around the world then there is a big chance that it will play major role in the economy,
Right now too it serves better in the economy of the countries that have adopted it. Same as quoted bitcoin reduce the people's dependence on banks for their financial needs when more adoption happens. This won't entirely make banks go out of service as banks are the primary operating firm of every financial system in a country. Banks are not going anywhere even if bitcoin gets on the mainstream there will be many people who will prefer to use banks and save their money in it as they feel that banks are the most safest place to save their money which is actually true.
Well, it will not change even in the future. Banks are trusted by the people and it gives insurance to your money so people are not worried anymore. However, it does not give you a good interest than holding bitcoins alone, but it's a person's choice on what make him comfortable.
Banks are not going anywhere even if bitcoin gets on the mainstream there will be many people who will prefer to use banks and save their money in it as they feel that banks are the most safest place to save their money which is actually true.
This is true in more economically developed countries but there are many others where you can't rely on banks and in those countries Bitcoin is a better option. So Bitcoin will never make banks disappear if even in undeveloped countries situation will be changing for better, but if in countries like USA or Germany banks become unreliable then Bitcoin might replace them, at least to to an extent.
To an extent? Then bitcoin has already replaced the banks to a really small extend since we are using bitcoins. "To an extent" is such a weak argument in this context.
I still doubt that bitcoins will ever replace the banks. The government is very strict about their fiat currency getting obsolete. When their people are using a foreign currency more than their local currency, the government takes action right away since that will devaluate their fiat currency in addition to the inflation.
The opportunities that exists in the bitcoin world will really help individuals earn more money but the growth of the country in terms of research, technology, nursing, etc. will become slower.
Well, it wasn't an argument, more like an allegation. Do you think if it was put like "Bitcoin will fully replace banks" it would be a stronger argument?
I don't think so. Bitcoin will never replace banks, not in our lifetime anyway, because there will always be some people who will prefer banks.
I hope of course that Bitcoin will be more popular and more used. But it will only reduce banks and not disappear. Many people need some normal banks too. And that is very important for them. we need banks and fiat in our daily lives to purchase physical goods, foods and anything in the store..If bitcoin would be widely adopted around the world then there is a big chance that it will play major role in the economy,
Cannot, the bank is the official institution that full supported by the Government's, all done through the bank such as economic policy. bitcoin can't possibly eliminate and make the bank disappear even though used en masse.
Correct and also the goal of bitcoin is not to make banks disappear, the goal of bitcoin is to allows to have an alternative to the banking system and that is something we can do already, although with some difficulties but as time passes it will become easier.Nothing will stop you from investing huge amount of money except for the fact that you can chicken out and cancel your big plan. You can do literally everything that you want in this world but you limit yourself from it. You can spend all of your money in one night, give it all to the poor ones, or risk it all in bitcoin investment. All of these wild decisions can't be done because of yourself. You're the only one who can stop yourself and you're the only guy that's stopping you from taking risks.
Banks are not going anywhere even if bitcoin gets on the mainstream there will be many people who will prefer to use banks and save their money in it as they feel that banks are the most safest place to save their money which is actually true.
This is true in more economically developed countries but there are many others where you can't rely on banks and in those countries Bitcoin is a better option. So Bitcoin will never make banks disappear if even in undeveloped countries situation will be changing for better, but if in countries like USA or Germany banks become unreliable then Bitcoin might replace them, at least to to an extent.
To an extent? Then bitcoin has already replaced the banks to a really small extend since we are using bitcoins. "To an extent" is such a weak argument in this context.
I still doubt that bitcoins will ever replace the banks. The government is very strict about their fiat currency getting obsolete. When their people are using a foreign currency more than their local currency, the government takes action right away since that will devaluate their fiat currency in addition to the inflation.
The opportunities that exists in the bitcoin world will really help individuals earn more money but the growth of the country in terms of research, technology, nursing, etc. will become slower.
I dont think bitcoin will make bank disappear. Bank cater to altogether different need. Banks are present to safeguard customer’s cash holdings at a given time and lend them to those in need to collect revenue in the form of interests.
Banks are not going anywhere even if bitcoin gets on the mainstream there will be many people who will prefer to use banks and save their money in it as they feel that banks are the most safest place to save their money which is actually true.
It is a sure thing because banks are being endorsed and trusted by the government. They are the one who controls the market of banks that's why people and will be manipulated by the media which is controlled by the government too. Because they can just simply boycott services from bitcoin and tell the people to stay with the banks.
we already know how banks operate they simple just take our money to make more money (anybody having some big amount of money can probably make huge profits too) but in bitcoin or any other crypto currency(mostly) nobody has any control over the total money in the market. Nobody can use your money nobody can control it except you so you are the one who will trade those and decide how much profit you are gonna make that's hard but its actually lot more profitable than banks. take the charges in your hand if you need a bright future then make it bright
Banks are not going anywhere even if bitcoin gets on the mainstream there will be many people who will prefer to use banks and save their money in it as they feel that banks are the most safest place to save their money which is actually true.
This is true in more economically developed countries but there are many others where you can't rely on banks and in those countries Bitcoin is a better option. So Bitcoin will never make banks disappear if even in undeveloped countries situation will be changing for better, but if in countries like USA or Germany banks become unreliable then Bitcoin might replace them, at least to to an extent.
The Bitcoi and the bank can work together and be together as the economy progress in a much more digital inclined transactions or exchange but I guess for now it is not possible but there are a lot of things that will happen in the future that may open the path to make it posssible.
Banks are not going anywhere even if bitcoin gets on the mainstream there will be many people who will prefer to use banks and save their money in it as they feel that banks are the most safest place to save their money which is actually true.
This is true in more economically developed countries but there are many others where you can't rely on banks and in those countries Bitcoin is a better option. So Bitcoin will never make banks disappear if even in undeveloped countries situation will be changing for better, but if in countries like USA or Germany banks become unreliable then Bitcoin might replace them, at least to to an extent.
The Bitcoi and the bank can work together and be together as the economy progress in a much more digital inclined transactions or exchange but I guess for now it is not possible but there are a lot of things that will happen in the future that may open the path to make it posssible.
Banks are not going anywhere even if bitcoin gets on the mainstream there will be many people who will prefer to use banks and save their money in it as they feel that banks are the most safest place to save their money which is actually true.
This is true in more economically developed countries but there are many others where you can't rely on banks and in those countries Bitcoin is a better option. So Bitcoin will never make banks disappear if even in undeveloped countries situation will be changing for better, but if in countries like USA or Germany banks become unreliable then Bitcoin might replace them, at least to to an extent.
Banks are not going anywhere even if bitcoin gets on the mainstream there will be many people who will prefer to use banks and save their money in it as they feel that banks are the most safest place to save their money which is actually true.
Well, it will not change even in the future. Banks are trusted by the people and it gives insurance to your money so people are not worried anymore. However, it does not give you a good interest than holding bitcoins alone, but it's a person's choice on what make him comfortable.
I agree with you, banks are a habit of people. They are used to using this system and they do not want to change it. They just do not want to believe that the bitcoin system is much more convenient and cheaper to use
Banks are the physical need for all the people and it is most obvious that regardless of what technology we start using, Banks are essential for our system, so i dont think Bitcoin or any other technology will close.
Banks are not going anywhere even if bitcoin gets on the mainstream there will be many people who will prefer to use banks and save their money in it as they feel that banks are the most safest place to save their money which is actually true.
Well, it will not change even in the future. Banks are trusted by the people and it gives insurance to your money so people are not worried anymore. However, it does not give you a good interest than holding bitcoins alone, but it's a person's choice on what make him comfortable.
I agree with you, banks are a habit of people. They are used to using this system and they do not want to change it. They just do not want to believe that the bitcoin system is much more convenient and cheaper to use
our money securely, it is only possible with banks and banks have build good reputation for the majority.
Banks are not going anywhere even if bitcoin gets on the mainstream there will be many people who will prefer to use banks and save their money in it as they feel that banks are the most safest place to save their money which is actually true.
Well, it will not change even in the future. Banks are trusted by the people and it gives insurance to your money so people are not worried anymore. However, it does not give you a good interest than holding bitcoins alone, but it's a person's choice on what make him comfortable.
I agree with you, banks are a habit of people. They are used to using this system and they do not want to change it. They just do not want to believe that the bitcoin system is much more convenient and cheaper to use
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