Can Bitcoin make Banks disappear? - page 151.

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Quote from: Monnt on February 23, 2017, 02:44:59 PM

Quote from: dmamigo on February 20, 2017, 01:44:14 PM

Quote from: gufpmvgw3334 on February 20, 2017, 07:02:12 AM

I do not think the bitcoin can let banks disappear now.But the banks may disappear in the future not only because of btc.

Banks cannot disappear, it might be possible that physically banks may go obsolete, but electronically it will continue to function. Bitcoin is great but some features are missing which general people will like to have. And also the trust factor towards a bank is too high.

I have to some different view about this. It’s true that banks cannot disappear but I don’t think bank is going to be physically absolute it is working at backend. Bitcoin is website of full feature I think it is not in their rule that they show the involvement of bank even they doing transaction through it but involvement of bank is not in benefit of us and bitcoin want our benefit as much as possible that’s why involvement of bank is not showing.

Banks are somewhat a foundation and institution already in the financial market and standing there for centuries already, it is somehow have some pride or just trust issues in giving in with bitcoins. Although, they will work hand in hand in the future.

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Quote from: dmamigo on February 20, 2017, 01:44:14 PM

Quote from: gufpmvgw3334 on February 20, 2017, 07:02:12 AM

I do not think the bitcoin can let banks disappear now.But the banks may disappear in the future not only because of btc.

Banks cannot disappear, it might be possible that physically banks may go obsolete, but electronically it will continue to function. Bitcoin is great but some features are missing which general people will like to have. And also the trust factor towards a bank is too high.

I have to some different view about this. It’s true that banks cannot disappear but I don’t think bank is going to be physically absolute it is working at backend. Bitcoin is website of full feature I think it is not in their rule that they show the involvement of bank even they doing transaction through it but involvement of bank is not in benefit of us and bitcoin want our benefit as much as possible that’s why involvement of bank is not showing.

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Quote from: Memeicomel on February 23, 2017, 03:24:45 AM

can not because bitcoin just a digital currency , and not always life..

Yes indeed, Bitcoin 'not always life' or it can't to be live forever because it has limited supply and it is just a digital currency and it can lose for the incoming cryptocurrencies or digital currencies in the future because if the bitcoin doesn't improve for this next few years, I'm sure that the users or the community will migrate to another coin.

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Quote from: Zaun on February 22, 2017, 05:35:38 PM

Quote from: cramcram21 on February 22, 2017, 05:00:26 PM

Bitcoin cannot make the banks to disappear,
But I think if bitcoin become much more popular in the future the banks should do something,
Maybe adopt this crypto currency or support it in any way that they can.

I agree banks are too powerful. But both can join or cooperate and perhaps work together to make and offer a global fast payment option for the masses. If banks offer bitcoin deposits withdrawals for let's say 50 cent. I think it will be a win win situation for consumers.

Win-win situation for us, users, but for the government, they are swallowing their pride. Fiat has always been the money of the world. Seeing banks adding bitcoins to their deposit/withdrawal methods would mean that the number of users of bitcoin has blown up so much that the government just accepted their defeat.

I still doubt that this will happen because they would start defending their money once we're starting to slowly grow in population so they can prevent future losses of the people's trust on them. If people realized that fiat has no value at all because it's not backed by gold anymore, they would start asking questions to their government which might wake up the majority of fiat slaves. That's something that the banks don't want to happen.

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Quote from: Memeicomel on February 23, 2017, 03:24:45 AM

can not because bitcoin just a digital currency , and not always life..

What you mean life? maybe you are refering to local fiat which could be used on our daily lives and you are right bitcoin cant replace fiats and so on with the banks no matter how would progress it would be the thing would still remain and wouldnt go beyond fiat.

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can not because bitcoin just a digital currency , and not always life..

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Quote from: Seeker#9 on February 23, 2017, 01:01:08 AM

Banks will still be there even bitcoin will become one of the common currency. They will find effective ways to remain alive in the modern financial world. They might evolve into modern banking system that is fully automated and caters to all kind of transactions.

Your right dude.
Banks is still their even Bitcoin recognize and accepted by the government's that its happening now.
And bank also want to copy the blockchain technology that we know that Bitcoin used.

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Banks will still be there even bitcoin will become one of the common currency. They will find effective ways to remain alive in the modern financial world. They might evolve into modern banking system that is fully automated and caters to all kind of transactions.

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Quote from: cramcram21 on February 22, 2017, 05:00:26 PM

Bitcoin cannot make the banks to disappear,
But I think if bitcoin become much more popular in the future the banks should do something,
Maybe adopt this crypto currency or support it in any way that they can.

I agree banks are too powerful. But both can join or cooperate and perhaps work together to make and offer a global fast payment option for the masses. If banks offer bitcoin deposits withdrawals for let's say 50 cent. I think it will be a win win situation for consumers.

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Quote from: Adelajda on February 22, 2017, 04:41:31 PM

It is not possible to think that bitcoin could make banks disappear in this state.It could dent the market share of western union or money gram as people might use bitcoin to start sending money abroad because of the low transaction fees and stuffs of bitcoin .

Actually, I think that Bitcoin can be a great help for services such as western union if they happen to incorporate Bitcoin alongside their fiat related business structure.

It would be an amazing option if you sell your coins to western union, and a person somewhere in the world can pick up the money that the sold coins were worth.

And when you deposit fiat, you can have someone anywhere in the world receive Bitcoins directly after that.

If they charge fair fees, then I am sure that it will be greatly beneficial for western union and people using their service. It's a win win situation.

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Bitcoin cannot make the banks to disappear,
But I think if bitcoin become much more popular in the future the banks should do something,
Maybe adopt this crypto currency or support it in any way that they can.

Doamader

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If bitcoin keeps the way it is going with the recent attacks at bitcoin, and making the huge delay or forcing people to raise the fees to get their transaction confirmed, im pretty sure it will lead to the end of bitcoin, and banks wont need to push or make any kind of pression to those happens. Even knowing banks services and transactions in the general are fast they have some limitations, and its that wich makes bitcoin an atractive option, but altcoins will get more atractive and are already due to delay of confirmation and fees.

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It is not possible to think that bitcoin could make banks disappear in this state.It could dent the market share of western union or money gram as people might use bitcoin to start sending money abroad because of the low transaction fees and stuffs of bitcoin .

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Quote from: Capradina on February 22, 2017, 01:56:15 AM

Quote from: SFL on February 18, 2017, 01:46:26 PM

At current situation it can not make any bank disappear but after many years it may not be predicted. It may also make banks disappear by using digital money not physical one....

It would never happen.!!! The central bank is, as of any Government. Without a bank then every country will be screwed to take care of any existing financial in it, so until whenever the bank will remain standing and bitcoin may never replace him. Because I think the Bank is permanent in every country, it is better meikirkan how to get a lot of advantages in the bitcoin instead of having to think of something that only generates a prediction

Never say never , even though it sounds like impossible
Things can changed faster as time goes by especially when you are talking about technology like bitcoin
I put my faith in bitcoin also a little bit doubt about this kind thought
The way bank works could changed when people realized how benefical bitcoin it is.

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In my country, Central Bank has decided that Banks should complete a money transfer in a maximum of 5 seconds, deadline to develop the neccessary system is July 2019.
This means that banks have to implement a common solution for this, because all of the banks have to fulfill this. As this would be a common development, it won't cause any advantage for a particular bank but will be a huge advantage for all of the people in the country.
The system must be a kind of blockchain based thing, and should be a closed system, having only the banks in the system. This can help to clear the transactions in a really short time and helps the system to be reliable and 100% secure. Looking forward to hear more about the solution.

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Quote from: diegz on February 22, 2017, 01:17:44 AM

Quote from: zidanw on February 22, 2017, 12:11:06 AM

I think not and also how bitcoin bank can make disappear, while bitcoin is not accepted as legal payment or legal currency in some countries and I think fiat still dominate for now

Saying that we like bitcoin bank means bank will still exist even when bitcoin will prevail over time. I think legality will come next, bitcoin being adopted by many might make some countries start to make a guidelines in using bitcoin. But of course, I do not see countries giving up their fiat as it is under their control and bitcoin is not.

I guess that proves that this time, the effect of a given bank, is bigger than the impact that the bitcoin. indeed, the price of bitcoin is much greater than fiat, but, basically most people prefer looking fiat, and save it in the bank, compared seek bitcoin, and put them in the wallet reliable.

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Quote from: SFL on February 18, 2017, 01:46:26 PM

At current situation it can not make any bank disappear but after many years it may not be predicted. It may also make banks disappear by using digital money not physical one....

It would never happen.!!! The central bank is, as of any Government. Without a bank then every country will be screwed to take care of any existing financial in it, so until whenever the bank will remain standing and bitcoin may never replace him. Because I think the Bank is permanent in every country, it is better meikirkan how to get a lot of advantages in the bitcoin instead of having to think of something that only generates a prediction

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Quote from: zidanw on February 22, 2017, 12:11:06 AM

I think not and also how bitcoin bank can make disappear, while bitcoin is not accepted as legal payment or legal currency in some countries and I think fiat still dominate for now

Saying that we like bitcoin bank means bank will still exist even when bitcoin will prevail over time. I think legality will come next, bitcoin being adopted by many might make some countries start to make a guidelines in using bitcoin. But of course, I do not see countries giving up their fiat as it is under their control and bitcoin is not.

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I think not and also how bitcoin bank can make disappear, while bitcoin is not accepted as legal payment or legal currency in some countries and I think fiat still dominate for now

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Quote from: virasisog on February 21, 2017, 09:13:40 PM

Quote from: gandame on February 21, 2017, 05:50:46 PM

Bitcoin will not make banks disappear because fiat is very popular and many businesses trusted banks, and actually bitcoin is very significant to banks in exchaging btc to fiat cash through cash out from wallets online. Digital currency has many advantages but we should set aside banks own purpose why it existed and people really trusted banks for their wealth security for their money.

I agree, it will not be replace but when the bitcoin becomes popularly known to people the use of banks will be no longer good ,they will going to improve something..i am thinking about researching blockchain to improve their services towards advance technology eith digital currency.

We are still gonna use banks, maybe when that time will come, there will be a good partnership with banks and bitcoin or clear to say, exchanges and banks. I'm seeing also there would be more businesses that will adopt with bitcoin and transaction would be more faster, but the bottom line is we cannot afford to live in this world without bank that produces fiat.

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