Can Bitcoin make Banks disappear? - page 148.

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Quote from: Supebox on March 01, 2017, 09:06:48 PM

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

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 currently it is difficult to believe that banks will disappear banks but in future it can be possible when all the people of the world will start using bitcoin and when all their needs can be fulfill with bitcoin then it will become possible that banks will become disappear.

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Quote from: PancherBitCoin on February 27, 2017, 01:53:57 PM

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.

I think the banking system will be always in our life. They can change. They can be adapted themselves to the bitcoin. But they will never disappear. The whole world economy is based on them.

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Quote from: markyminer on March 01, 2017, 11:08:54 AM

Quote from: PancherBitCoin on February 27, 2017, 01:53:57 PM

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.

As bitcoin gains popularity we can expect the banks to try to retaliate by offering more cheaper and better services that could be a problem for bitcoin since banks can afford to offer services even if they have to take a loss to do it to slow the growth of bitcoin.

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Quote from: rickadone on March 02, 2017, 10:35:58 AM

Quote from: markyminer on March 01, 2017, 11:08:54 AM

Quote from: PancherBitCoin on February 27, 2017, 01:53:57 PM

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.

The banks are the important for fiat and no one can able to replace them but nothing is impossible and we can only predict about the future. If bitcoin makes such law like a bank and it will become so, popular to accept everywhere and in every country than I think it may happen but fait money has its own importance and I think non of the cryptocurrency have enough power to replace fait money and bank as well.

If cryptocurrency when then replace the real money, then do not do without the controlling bank. This bitcoin will lose some of their interesting advantages, which are useful for the user. But it's very difficult to imagine that the government approved the bitcoin as the national currency in which either country.

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Quote from: markyminer on March 01, 2017, 11:08:54 AM

Quote from: PancherBitCoin on February 27, 2017, 01:53:57 PM

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.

The banks are the important for fiat and no one can able to replace them but nothing is impossible and we can only predict about the future. If bitcoin makes such law like a bank and it will become so, popular to accept everywhere and in every country than I think it may happen but fait money has its own importance and I think non of the cryptocurrency have enough power to replace fait money and bank as well.

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Quote from: The_Dark_Knight on March 01, 2017, 05:35:31 PM

Quote from: paul gatt on February 27, 2017, 02:12:39 AM

Quote from: pawanjain on February 27, 2017, 02:09:11 AM

Quote from: ManOnTheMoon on February 26, 2017, 09:04:03 AM

Quote from: pawanjain on February 26, 2017, 08:52:36 AM

May be many of friends here is saying , that it is impossible for the bitcoin to dissapear the bank system .
But I think opposite of this . According to the current condition of bitcoin of increasing popularity and price will surely result into dissapear bank system.

That is not possible bitcoin can never make disappear as bitcoin is too small in compare to banks and banks also have an support from the Government and the people which makes it even stronger, comparatively bitcoin is still to many people.

I think you are right , But still the increasing the popularity of the bitcoin will result in the down of the banking system .
I mean people will use in very less amount because they have already a fascility of bitcoin bank .

I think you're wrong, and that is an absolutely wrong thinking. Whether Bitcoin developer, but the real money is always the most important thing, it is a factor to determine the value of Bitcoin, or in other words it is a factor to determine the value of Bitcoin. Bitcoins can be confirmed depending on real money. banks can not disappear

This is wrong, if bitcoin became the most dominant currency, doubtful but it is still a possibility, then things will be priced in bitcoins instead of being priced on dollars or euros.

I doubt that, Bitcoin is sentenced already to be an alternative currency. Items will be priced according to the local and international currency that is either tha main currency of a country or the accepted main international currency. Bitcoin price always depend on the conversion of that item to main internationa currency, for example USD for now.

Banks will always stay besides they are the institution that most benefit from the blockchain technology of Bitcoin.

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Quote from: Supebox on March 01, 2017, 09:06:48 PM

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

Banks are controlled by the government and the government can do anything to eliminate they wouldn't want to exist. Bitcoin is still existing because it is not a pure threat that will replace the banking system and we know that we can do banking with bitcoin without the need of bank but what we believe is not right because in the end, we still have to convert our bitcoins to fiat to get its value.

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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

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Quote from: paul gatt on February 27, 2017, 02:12:39 AM

Quote from: pawanjain on February 27, 2017, 02:09:11 AM

Quote from: ManOnTheMoon on February 26, 2017, 09:04:03 AM

Quote from: pawanjain on February 26, 2017, 08:52:36 AM

May be many of friends here is saying , that it is impossible for the bitcoin to dissapear the bank system .
But I think opposite of this . According to the current condition of bitcoin of increasing popularity and price will surely result into dissapear bank system.

That is not possible bitcoin can never make disappear as bitcoin is too small in compare to banks and banks also have an support from the Government and the people which makes it even stronger, comparatively bitcoin is still to many people.

I think you are right , But still the increasing the popularity of the bitcoin will result in the down of the banking system .
I mean people will use in very less amount because they have already a fascility of bitcoin bank .

I think you're wrong, and that is an absolutely wrong thinking. Whether Bitcoin developer, but the real money is always the most important thing, it is a factor to determine the value of Bitcoin, or in other words it is a factor to determine the value of Bitcoin. Bitcoins can be confirmed depending on real money. banks can not disappear

This is wrong, if bitcoin became the most dominant currency, doubtful but it is still a possibility, then things will be priced in bitcoins instead of being priced on dollars or euros.

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Quote from: Mirardowyn on March 01, 2017, 11:43:34 AM

Quote from: subcypher on January 11, 2016, 09:48:18 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.

I totally agree with you and can think of a day were banks would go away. And like you said they will definitely find a way to stay.
But nothing is impossible so let's just hope that the banks won't be gone one day

Perhaps it is only our desire that the banks had been destroyed. With the lives of the banking system and economy of the countries of the world. All financial relationships between countries, citizens and companies go through banks. Even buying groceries on the cards of the bank can not do without it. Banks will continue to exist for a long time.

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Quote from: subcypher on January 11, 2016, 09:48:18 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.

I totally agree with you and can think of a day were banks would go away. And like you said they will definitely find a way to stay.
But nothing is impossible so let's just hope that the banks won't be gone one day

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Quote from: PancherBitCoin on February 27, 2017, 01:53:57 PM

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.

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In my opinion, banks are too big to see them disappearing because of Bitcoin and they are used too much, that it is near impossible to live without banks now. In worst case for them they will start to use it in their system or at least the blockchain

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Quote from: pawanjain on February 27, 2017, 02:09:11 AM

Quote from: ManOnTheMoon on February 26, 2017, 09:04:03 AM

Quote from: pawanjain on February 26, 2017, 08:52:36 AM

May be many of friends here is saying , that it is impossible for the bitcoin to dissapear the bank system .
But I think opposite of this . According to the current condition of bitcoin of increasing popularity and price will surely result into dissapear bank system.

That is not possible bitcoin can never make disappear as bitcoin is too small in compare to banks and banks also have an support from the Government and the people which makes it even stronger, comparatively bitcoin is still to many people.

I think you are right , But still the increasing the popularity of the bitcoin will result in the down of the banking system .
I mean people will use in very less amount because they have already a fascility of bitcoin bank .

Do not underestimate the banks. The reason why bitcoin is alive today and still kicking is that the banks are allowing bitcoin exchangers to avail of their system. Did you heard what happen to Venezuela the banks refuses to accept transactions from the exchanges and that caused a major problem with bitcoins. Even if bitcoins price is very high it cannot shut down the banks, the banks will just adopt to the times and will evolve.

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Quote from: Chin Cheng on February 27, 2017, 10:29:58 PM

Quote from: PancherBitCoin on February 27, 2017, 01:53:57 PM

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.

So what is the problem with it.Unless there is a crisis you are able to get what to own. Just imagine that you have saved all your money as digital asset and consider that there is a natural disaster ,what would you do the redeem your assets for real valued product.So we need every option and these options are good for the future.

In that case physical money is indeed a helpful option since you're not depending on internet like is the case with Bitcoin for example.

But then you'll need to have the money stored in your home as you can't depend on bank offices to be open at such scenarios. Same goes up for ATM's as they just like Bitcoin depend on internet to function.

But the point is that if you purely look at what could happen when a disaster becomes reality, then both Bitcoin and banks will suffer basically from the same problems as internet is everything.

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I think no because many people want bank yo restore their money. Because i think bitcoin wallet is not safe the bank is more safest than bitcoin wallet. Many now i heard their wallet hacked. So bank can not disappear and many people now don't know about bitcoin.

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it is not possible, because we need to use paper money for a long time

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Quote from: danherbias07 on February 27, 2017, 10:35:26 PM

Quote from: btcdiggingmaster on February 27, 2017, 10:16:30 PM

Quote from: pawanjain on February 27, 2017, 02:09:11 AM

Quote from: ManOnTheMoon on February 26, 2017, 09:04:03 AM

Quote from: pawanjain on February 26, 2017, 08:52:36 AM

May be many of friends here is saying , that it is impossible for the bitcoin to dissapear the bank system .
But I think opposite of this . According to the current condition of bitcoin of increasing popularity and price will surely result into dissapear bank system.

That is not possible bitcoin can never make disappear as bitcoin is too small in compare to banks and banks also have an support from the Government and the people which makes it even stronger, comparatively bitcoin is still to many people.

I think you are right , But still the increasing the popularity of the bitcoin will result in the down of the banking system .
I mean people will use in very less amount because they have already a fascility of bitcoin bank .

Completely you are mistaken because bitcoin is digital currency, even now without banks people cannot able to able to buy bitcoin. Right now there are less bitcoin banks so it might take ages to setup banks. Because government are still in testing stage of block chain, so right now only banking system will lead the countries.

Not true. You can buy a bitcoin now in different ways. One example is our website wallet in our country where you could go to a connected convenience store and just buy it then it will be added to your wallet.
Bitcoin is created to make an option if we dont want to use the banks because of privacy and transaction fee.
So why make something that will rely on banks. That is why banks are trying to copy bitcoin.

You've not made it clear. Through website wallet you need to find the convenient store and make the purchase. At the same to fill the wallet you're supposed to depend a bank. So direct bitcoin usage as well buying with different ways is not possible. At some point you depend banks for the purchases.

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Quote from: btcdiggingmaster on February 27, 2017, 10:16:30 PM

Quote from: pawanjain on February 27, 2017, 02:09:11 AM

Quote from: ManOnTheMoon on February 26, 2017, 09:04:03 AM

Quote from: pawanjain on February 26, 2017, 08:52:36 AM

May be many of friends here is saying , that it is impossible for the bitcoin to dissapear the bank system .
But I think opposite of this . According to the current condition of bitcoin of increasing popularity and price will surely result into dissapear bank system.

That is not possible bitcoin can never make disappear as bitcoin is too small in compare to banks and banks also have an support from the Government and the people which makes it even stronger, comparatively bitcoin is still to many people.

I think you are right , But still the increasing the popularity of the bitcoin will result in the down of the banking system .
I mean people will use in very less amount because they have already a fascility of bitcoin bank .

Completely you are mistaken because bitcoin is digital currency, even now without banks people cannot able to able to buy bitcoin. Right now there are less bitcoin banks so it might take ages to setup banks. Because government are still in testing stage of block chain, so right now only banking system will lead the countries.

Not true. You can buy a bitcoin now in different ways. One example is our website wallet in our country where you could go to a connected convenience store and just buy it then it will be added to your wallet.
Bitcoin is created to make an option if we dont want to use the banks because of privacy and transaction fee.
So why make something that will rely on banks. That is why banks are trying to copy bitcoin.

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Quote from: agamasrori on February 27, 2017, 08:58:24 PM

Quote from: PancherBitCoin on February 27, 2017, 01:53:57 PM

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.

That is because the habit of the people. although it is very difficult to make a bank dissapear now, but the use of banks in society will be reduced little by little. especially in fintech industry.

You really need a bank or an exchange to convert your assets to digital cash and without that it is really impossible to convert your assets.So banking system is there to stay for the longer haul and bitcoin system will be along side as a secondary option. People really must have to choose what to and what not to and never dictate things.

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