Can Bitcoin make Banks disappear? - page 153.

seven4smoke

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Quote from: chmod777 on February 19, 2017, 10:51:04 PM

Quote from: diegz on February 19, 2017, 10:18:03 PM

Quote from: chmod777 on February 19, 2017, 10:08:16 PM

I do not think bitcoin can destroy the banks. People do not change their habits easily. They also trust the bank too much. If the bitcoin starts to be used by a few billion people around the world, the banking system could end up.
But the states will not allow it. States always support systems they can control.

I think that's far from happening. Just imagine how many bitcoins are there, and if billions will be sharing it, then everyone will be getting a few thousands satoshi. It's not that the state wants something that they control, but it's all about the ease, and what's good for their economy. Bitcoin could help the economy, but as a currency of a certain country, it's hard to happen, but in banking, it is possible.

Yes it would be a dream to expect something like this for the next 5 years. But a country like Liberland has accepted bitcoin as its official currency. It would be funny to wait for developed countries to accept such a thing.
But with technology everything changes and changes very quickly. After 50 years, maybe bitcoin can be used by half of world population.
States may have accepted bitcoin. 50 years is enough time for such a thing to happen.

I used to generally skeptical of other people's opinions about what what the country can take as a basis the main bitcoin as a currency. Valid for the defeated countries, it is not necessary, as there are enough strong national currency. But poor countries, then they have nothing to lose.

chmod777

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Quote from: diegz on February 19, 2017, 10:18:03 PM

Quote from: chmod777 on February 19, 2017, 10:08:16 PM

I do not think bitcoin can destroy the banks. People do not change their habits easily. They also trust the bank too much. If the bitcoin starts to be used by a few billion people around the world, the banking system could end up.
But the states will not allow it. States always support systems they can control.

I think that's far from happening. Just imagine how many bitcoins are there, and if billions will be sharing it, then everyone will be getting a few thousands satoshi. It's not that the state wants something that they control, but it's all about the ease, and what's good for their economy. Bitcoin could help the economy, but as a currency of a certain country, it's hard to happen, but in banking, it is possible.

Yes it would be a dream to expect something like this for the next 5 years. But a country like Liberland has accepted bitcoin as its official currency. It would be funny to wait for developed countries to accept such a thing.
But with technology everything changes and changes very quickly. After 50 years, maybe bitcoin can be used by half of world population.
States may have accepted bitcoin. 50 years is enough time for such a thing to happen.

NeedCash2k17

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it may be possible to make all banks disappear... but in a long time, so we wouldn't be alive to watch it become a thing.

diegz

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Quote from: chmod777 on February 19, 2017, 10:08:16 PM

I do not think bitcoin can destroy the banks. People do not change their habits easily. They also trust the bank too much. If the bitcoin starts to be used by a few billion people around the world, the banking system could end up.
But the states will not allow it. States always support systems they can control.

I think that's far from happening. Just imagine how many bitcoins are there, and if billions will be sharing it, then everyone will be getting a few thousands satoshi. It's not that the state wants something that they control, but it's all about the ease, and what's good for their economy. Bitcoin could help the economy, but as a currency of a certain country, it's hard to happen, but in banking, it is possible.

chmod777

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I do not think bitcoin can destroy the banks. People do not change their habits easily. They also trust the bank too much. If the bitcoin starts to be used by a few billion people around the world, the banking system could end up.
But the states will not allow it. States always support systems they can control.

farl2web

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Quote from: coynedterm on February 13, 2017, 07:07:14 AM

Quote from: gandame on February 13, 2017, 06:33:26 AM

Oh wow thats not a good idea if banks will disappear just because of bitcoin? And I tell you you're definitely wrong because banks is very important in saving fiat currency money and bitcoin really need banks rather than online wallet. Banks is more secure than online wallet so there's no reason for us to think that banks will disappear.

yeah , You are fully right . Here every single person is only to make bank money earning . Because everyone knows that it is only a way of making money and cannot be allow to use in any where in the world to make payment through this , because already some countries banned bitcoin directly and indirectly .
But in actual , it is more powerful than the bank system because here we have fully secured options to protect our money but it is only the rules of some country's government that's are making us to think about bitcoin doubtly .
But I am sure that in the near future the bitcoin network will chase bank network .

As if we did not talk about what the banks are cashing in on ordinary people still want to say that their service life is still much easier. And if there are any problems, we always create their own, is not calculated their financial strength. So the work of the banking system is necessary for all, and this is not a hindrance bitcoin.

Gameroid

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Quote from: Orion25 on February 19, 2017, 02:49:02 PM

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....

Today, banks also use the money in the form of physical and digital. Therefore, banks are already operating in the future. A bitcoin does not have the capacity that has the bank, and even more will not be able to provide the same services as the bank.

yes banks are going to operate for a long time. and may be banks will continue tell all the people of the world start using bitcoin and tell the facilities of bitcoin become available in all over the world and i think it will take a lot of time because still a lot of people do not know about about bitcoin and most of the people know about bitcoin but still they do not want to invest in bitcoin.

Orion25

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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....

Today, banks also use the money in the form of physical and digital. Therefore, banks are already operating in the future. A bitcoin does not have the capacity that has the bank, and even more will not be able to provide the same services as the bank.

SFL

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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....

coynedterm

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Quote from: gandame on February 13, 2017, 06:33:26 AM

Oh wow thats not a good idea if banks will disappear just because of bitcoin? And I tell you you're definitely wrong because banks is very important in saving fiat currency money and bitcoin really need banks rather than online wallet. Banks is more secure than online wallet so there's no reason for us to think that banks will disappear.

yeah , You are fully right . Here every single person is only to make bank money earning . Because everyone knows that it is only a way of making money and cannot be allow to use in any where in the world to make payment through this , because already some countries banned bitcoin directly and indirectly .
But in actual , it is more powerful than the bank system because here we have fully secured options to protect our money but it is only the rules of some country's government that's are making us to think about bitcoin doubtly .
But I am sure that in the near future the bitcoin network will chase bank network .

gandame

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Oh wow thats not a good idea if banks will disappear just because of bitcoin? And I tell you you're definitely wrong because banks is very important in saving fiat currency money and bitcoin really need banks rather than online wallet. Banks is more secure than online wallet so there's no reason for us to think that banks will disappear.

llanillo

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Quote from: MONKEYJUNK on February 13, 2017, 05:40:01 AM

My opinion on the matter is quite simple. Only the banks can make banks disappear by acting stupid, inconsistent and without integrity. Sadly the lies are so big that keeping their integrity can be quite difficult for them.

But disappearance of banking system aka debt system is another story. It can survive even if all the banks wouldnt.

That day will never come when banks will disappear and only bitcoin would be ruling the world as it sounds unrealistic there is no way that banks can disappear in fact it will become more stronger due to arising competition in financial world and I think both will survive in long run.

MONKEYJUNK

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My opinion on the matter is quite simple. Only the banks can make banks disappear by acting stupid, inconsistent and without integrity. Sadly the lies are so big that keeping their integrity can be quite difficult for them.

But disappearance of banking system aka debt system is another story. It can survive even if all the banks wouldnt.

Diced90

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Get'em boys

Bitcoin has proved to be a functioning currency under its decentralized system but that won't make banks disappear as fiat depends on them to regulate the monetary policies unless we all migrate to crypto and dump fiat to make the banks vanish as their services will no longer be required.

ManOnTheMoon

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Quote from: Bitcoin1216 on February 13, 2017, 04:49:11 AM

I think it is impossible, the bank is the largest financial institution, so it is impossible if the existence of the bitcoin make banks disappear. Maybe someday there will be a bank that approved a bitcoin so that banks remain.

Yes there is a possibility that banks may start accepting bitcoins in near future but that will make bitcoins and banks to go hand in hand and if we are thinking that banks will completely disappear then that will never happen as bitcoin is too small in compare to banks and also lacks support from the people and Government.

Bitcoin1216

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Pawsome

I think it is impossible, the bank is the largest financial institution, so it is impossible if the existence of the bitcoin make banks disappear. Maybe someday there will be a bank that approved a bitcoin so that banks remain.

Railholic

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its too high imagination bitcoin can make bank off operating
bitcoin has fluctuative rate , its no real currencies balance exactly
then the bank save your money with exactly balance

mkmdoc

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Quote from: zuyfg888 on February 12, 2017, 10:35:50 AM

Bitcoins can make banks disappear. We know that bitcoin value will go up and up. But we know that bitcoin will not be always stable on its highest value. We should know that bitcoin will be going popular. We must promote bitcoins to our friends.

It is not possible because once the price of bitcoin is keep increasing means government will not handle this growth.Even i don't see any relation with banks and bitcoin, bitcoin is digital currency it is not like bank. Through banks we have many option like saving, investment,RD, insurances etc. But we don't have all these features with bitcoin.

diegz

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Quote from: Finestream on February 13, 2017, 02:15:32 AM

Quote from: diegz on February 13, 2017, 02:06:11 AM

Quote from: Liang_Kubur on February 13, 2017, 01:44:59 AM

Possible, when most people turn their transactions to the bitcoin, surely this could make banks deserted and eventually disappear. We all know that the existence of the bitcoin much modify traditional transaction systems to be more easily and effectively.

Thinking about even 1/5 of the people of the world to use bitcoin is highly unlikely. But anyway, if lots of transaction was made into bitcoin, I think the bank is the one who is going to shift to bitcoin. Lets not forget that bank owners are clever, and they are flexible enough to meet what their customers needs.

Banks are regulated, they cannot easily just shift to something that is not centralized. Bitcoin is decentralized by nature and that actually attracts the bitcoin enthusiast, we feel we get the privacy when using bitcoin as we can do illegal activities online easily. Like for me, gambling sites are illegal in our country but with bitcoin I can do it easily. With that, I have to say, it is not only income that bitcoin can give but entertainment as well.

Before, when I gamble, I need to fund transfer money from my bank account which I don't find it attractive as my information is so exposed with the 3 party people, and when you to expose you are at risk.

Don't forget that exchanges holds both fiat and bitcoin. Crypto currency exchange and banks has only small difference. Some banks holds foreign currency too. So, with that, banks are capable of holding other things that has value. Besides, they too is getting more and more digital now, so probably in the near future, a bitcoin bank would really come true.

Finestream

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Quote from: diegz on February 13, 2017, 02:06:11 AM

Quote from: Liang_Kubur on February 13, 2017, 01:44:59 AM

Possible, when most people turn their transactions to the bitcoin, surely this could make banks deserted and eventually disappear. We all know that the existence of the bitcoin much modify traditional transaction systems to be more easily and effectively.

Thinking about even 1/5 of the people of the world to use bitcoin is highly unlikely. But anyway, if lots of transaction was made into bitcoin, I think the bank is the one who is going to shift to bitcoin. Lets not forget that bank owners are clever, and they are flexible enough to meet what their customers needs.

Banks are regulated, they cannot easily just shift to something that is not centralized. Bitcoin is decentralized by nature and that actually attracts the bitcoin enthusiast, we feel we get the privacy when using bitcoin as we can do illegal activities online easily. Like for me, gambling sites are illegal in our country but with bitcoin I can do it easily. With that, I have to say, it is not only income that bitcoin can give but entertainment as well.

Before, when I gamble, I need to fund transfer money from my bank account which I don't find it attractive as my information is so exposed with the 3 party people, and when you to expose you are at risk.

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