Topic: Can Bitcoin make Banks disappear? - page 147. (Read 427614 times)
Banks would still exist.But bitcoin would considerably decrease the number of people who use banks.Banks would loose large revenues which they got from transactions in future.It will not be a surprise to see if banks are only used to borrow loans.Thats why all bankers fear Bitcoin.
Bitcoin won't make banks disappear because its so important to have that for fiat cash money, without that there is no secure storage for savings came from business earnings of people who trusted money for them. We can use banks to exchange our bitcoin to them and also we have the options of cash out money from banking transactions. It's really important of bitcoin to have banks and no reasons to make it disappear.
Surely bitcoin actually make some of the banks mean less . But what may save some of this banks is if they went into restructuring back. I am not sure bitcoin will give them such opportune.
What do you mean by means less? FYI, we are still not there, bitcoin is not widely accepted by the masses and although we see the price is rising now but that is nothing compared to how stable bank is. Let's be realistic for once, bank will always be very dominant as they produce fiat and fiat is bigger than bitcoin in terms of adoption. 
Surely bitcoin actually make some of the banks mean less . But what may save some of this banks is if they went into restructuring back. I am not sure bitcoin will give them such opportune.
Bitcoin in the future will have bigger fees, and i dont know how far it will keep going with that said, currently the 24/7 avaible transactions ias a good advantage over banks, with lowe fees, but those can change and bitcoin may loose some interest at crypto currencie. Banks should increase their fees as well but they remains as the most trusted place to save our money.
but the bank has many facilities like ATM, internet banking, SMS banking, and it can be accessed 24 hours a day. I think it would be difficult to make bank bitcoin be lost. because the banks themselves are also very sophisticated 
Bitcoin in the future will have bigger fees, and i dont know how far it will keep going with that said, currently the 24/7 avaible transactions ias a good advantage over banks, with lowe fees, but those can change and bitcoin may loose some interest at crypto currencie. Banks should increase their fees as well but they remains as the most trusted place to save our money.
It all depends on the implementation that Bitcoin will be running with at that time. Certain proposals will give the benefit to the user in form of very low transaction fees, but that won't be a welcome change for pools obviously.Mining operations will not run their hardware for peanuts as they will more and more depend on income they generate from transaction fees. I think a mid way solution would be best for user and miners.
Bitcoin in the future will have bigger fees, and i dont know how far it will keep going with that said, currently the 24/7 avaible transactions ias a good advantage over banks, with lowe fees, but those can change and bitcoin may loose some interest at crypto currencie. Banks should increase their fees as well but they remains as the most trusted place to save our money.
Yes with bitcoins into existence it might happen that banks might disappear ,but it is very unlikely to happen because governemnt does not want to lose control over their people .,so in conclusion it might not disappear .
Banks along with fiat coins aren't very likely to be on the verge of extinction for any reason. Although it seems to be that bitcoin is growing rapidly and dramatically and taking over the place of fiat currencies, it doesn't have the ability to make banks die out. Banks still play a major part in our lives and they still belong to the governments, so as long as the governments are still here, banks won't go anywhere. People who have started to use bitcoins will prefer to stay away from traditional banking system as with bitcoin they have their own bank in the form of bitcoin wallet and where they hold total control on their funds so in that case they will stop using banks but those who are not aware about bitcoins yet will continue to use banks as they don't have any other alternative option at a moment.
Yup bitcoin is not yet that stronger that it has power to make banks disappear as banks have support from the Government and the society and people have more faith in banks as if there is any issue with their funds then they know that banks will help them in recovering their money and even if more people will start using bitcoins in future it will be just an alternative option and won't be a primary choice.
Yes with bitcoins into existence it might happen that banks might disappear ,but it is very unlikely to happen because governemnt does not want to lose control over their people .,so in conclusion it might not disappear .
Banks along with fiat coins aren't very likely to be on the verge of extinction for any reason. Although it seems to be that bitcoin is growing rapidly and dramatically and taking over the place of fiat currencies, it doesn't have the ability to make banks die out. Banks still play a major part in our lives and they still belong to the governments, so as long as the governments are still here, banks won't go anywhere. People who have started to use bitcoins will prefer to stay away from traditional banking system as with bitcoin they have their own bank in the form of bitcoin wallet and where they hold total control on their funds so in that case they will stop using banks but those who are not aware about bitcoins yet will continue to use banks as they don't have any other alternative option at a moment.
Yes with bitcoins into existence it might happen that banks might disappear ,but it is very unlikely to happen because governemnt does not want to lose control over their people .,so in conclusion it might not disappear .
Banks along with fiat coins aren't very likely to be on the verge of extinction for any reason. Although it seems to be that bitcoin is growing rapidly and dramatically and taking over the place of fiat currencies, it doesn't have the ability to make banks die out. Banks still play a major part in our lives and they still belong to the governments, so as long as the governments are still here, banks won't go anywhere. Just imagine how many banks heavily logged in the lives of people. Who will not do any action without the bank. Salary, utilities payments and other financial matters, everything happens through the bank.
yes that is correct that we are not using banks only for depositing and withdrawal of money banks also give us so many other services and that is the reason that we cannot stop using banks, even if the number of bitcoin users increase, but it can only be possible when bitcoin can also provide us such facilities. whether bitcoin bitcoin should approach the government in order to be accepted by him, and can the bank adopts dibitcoin of the existing system, if there is no good solution then one of them will be knocked out or disappear
Just imagine how many banks heavily logged in the lives of people. Who will not do any action without the bank. Salary, utilities payments and other financial matters, everything happens through the bank.
yes that is correct that we are not using banks only for depositing and withdrawal of money banks also give us so many other services and that is the reason that we cannot stop using banks, even if the number of bitcoin users increase, but it can only be possible when bitcoin can also provide us such facilities. Yes with bitcoins into existence it might happen that banks might disappear ,but it is very unlikely to happen because governemnt does not want to lose control over their people .,so in conclusion it might not disappear .
Banks along with fiat coins aren't very likely to be on the verge of extinction for any reason. Although it seems to be that bitcoin is growing rapidly and dramatically and taking over the place of fiat currencies, it doesn't have the ability to make banks die out. Banks still play a major part in our lives and they still belong to the governments, so as long as the governments are still here, banks won't go anywhere. 
It seems to be doing the exact opposite with its fixed 1 MB blocksize limit. Bringing additional credit card business to the banks as people pay with the credit cards to accelerate their Bitcoin transactions. https://pushtx.btc.com/
I dont think so because there is just too much physical/local currency and not everyone use bitcoin so it would basically be impossible.
Yes with bitcoins into existence it might happen that banks might disappear ,but it is very unlikely to happen because governemnt does not want to lose control over their people .,so in conclusion it might not disappear .
Banks along with fiat coins aren't very likely to be on the verge of extinction for any reason. Although it seems to be that bitcoin is growing rapidly and dramatically and taking over the place of fiat currencies, it doesn't have the ability to make banks die out. Banks still play a major part in our lives and they still belong to the governments, so as long as the governments are still here, banks won't go anywhere. 
I personally don't think that this will happen because the Bitcoin isn't capable of doing this.
And the banks won't let the Bitcoin make them disappear, they will find a way to fight against the Bitcoin
And the banks won't let the Bitcoin make them disappear, they will find a way to fight against the Bitcoin
It's hard to let bitcoin take over the banking services. There will be always the separation of services, bitcoin is good for being its own bank and has its blockchain technology. But still in real life we do need the services of bank even we are into bitcoin. But with this, it's kind of impossible thing to see this for the next years.
Yes with bitcoins into existence it might happen that banks might disappear ,but it is very unlikely to happen because governemnt does not want to lose control over their people .,so in conclusion it might not disappear .
I personally don't think that this will happen because the Bitcoin isn't capable of doing this.
And the banks won't let the Bitcoin make them disappear, they will find a way to fight against the Bitcoin
And the banks won't let the Bitcoin make them disappear, they will find a way to fight against the Bitcoin
It's hard to let bitcoin take over the banking services. There will be always the separation of services, bitcoin is good for being its own bank and has its blockchain technology. But still in real life we do need the services of bank even we are into bitcoin. But with this, it's kind of impossible thing to see this for the next years.
Just imagine how many banks heavily logged in the lives of people. Who will not do any action without the bank. Salary, utilities payments and other financial matters, everything happens through the bank.
yes that is correct that we are not using banks only for depositing and withdrawal of money banks also give us so many other services and that is the reason that we cannot stop using banks, even if the number of bitcoin users increase, but it can only be possible when bitcoin can also provide us such facilities. Revolutionary in his system, will make the more efficiency and effectivity.
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