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Topic: Can Bitcoin make Banks disappear? - page 162. (Read 427614 times)

hero member
Activity: 588
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January 15, 2017, 07:21:57 PM
If people would start to think definitely, banks steal from you.
i do not think that it is possible in near future because banks have so stable position and having the support of fiat therefore i do not think that the bitcoin community which is not so much in number can disappear banks so soon.
hero member
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January 15, 2017, 03:45:16 PM
The banks will not disappear because most of people in the world use bank credits. Like mortgage, vehicle loans, home loans, consumer loan or commercial loan. Maybe one day we can receive all these loans as a bitcoin but the place where we are going to receive all these loans is the banks.


But if people are not use fiat anymore, bank will be use less. loan money from bank is not good for us, the bank interest make us hard to pay our debt. The annuity interest is adverse the customer.
but i think it is no possible in near future that people will stop using fiat currency, because still a negligible % of people are using bitcoin as currency and it will take decades when at least half the people of the world will start using bitcoin. therefore i do not think that is possible in near future.
yes that is a fact that it is not possible that all the people of the world will stop fait and will use bitcoin for all their activities, because still a very little number of people are using bitcoin may be  not more than 1%. i also think that it will take  a lot of time.
newbie
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January 15, 2017, 10:45:33 AM
If people would start to think definitely, banks steal from you.
hero member
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January 15, 2017, 10:37:50 AM
For me, bitcoins can not make banks disappear. First, they are now working together even they function differently. Their combinations is one of the successful moments especially to BTC. I consider both of them to improve and to have better development in our economy.

Yes banks cannot be disappeared easily by bitcoins. And as of the moment there is no bank that is ready to accept bitcoin but there are some that are showing interest with it. But this is a risky move for the banks, because of its decentralization that can cause economic collapse if all the people will use bitcoin because it doesn't have indefinite value.
Clearly it's impossible to happen, banks are for fiat and it cannot accept bitcoins as there definition of bitcoin is properly. Bitcoin will be widely used online but it will not a time that it will be legalized as a currency. Every country has their own, so why would a bank entertain bitcoin.
each country will definitely need a bank that will produce fiat, and it will continue to run. today, bitcoin has not been recognized as a currency, but already has a high price. but, with potential like that, bitcoin bank will not make disappear. it is because bitcoin is not created by the state, and I think, at this time, bitcoin is only seen as a tool to multiply money.

Every Country need good banks to have a good financial growth as well to manage the money in a good manner, so that it can be used for the right needful thing. Bitcoin has high potential to grow higher than banks, but people won't get adopted to it similar to the way they consider banks. Because banks can be used by common men which is not possible with bitcoin, which needs some technology related knowledge.
legendary
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January 15, 2017, 04:51:42 AM
I don't think so Bank is important because we keep our money it is real money that you can hold it Bitcoins is just a virtual money.
i think the importance of bitcoin cannot be ignore so soon. as still less than 1% people are using bitcoin, therefore almost all the people of the world are using fait and banks are important for fiat therefore the importance of fiat cannot be be ignore in present time.
And remember that most of bitcoin holders will eventually exchange their bitcoin to local fiat through bank transfer which was done by the local exchangers when they're in need of it.
As long as those bitcoin holders still use bank transfer method then for Banks to disappear is near to impossible
Even we do not base on that thing banks would really be still here and wont disappear since its backed up by government.You are right every user now need to exchange their bitcoins to fiat when they need it thats why fiat would be still there because it happens on banks and also bitcoin is getting value from fiat.
legendary
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January 15, 2017, 03:21:46 AM
I don't think so Bank is important because we keep our money it is real money that you can hold it Bitcoins is just a virtual money.
i think the importance of bitcoin cannot be ignore so soon. as still less than 1% people are using bitcoin, therefore almost all the people of the world are using fait and banks are important for fiat therefore the importance of fiat cannot be be ignore in present time.
And remember that most of bitcoin holders will eventually exchange their bitcoin to local fiat through bank transfer which was done by the local exchangers when they're in need of it.
As long as those bitcoin holders still use bank transfer method then for Banks to disappear is near to impossible
hero member
Activity: 2814
Merit: 576
January 15, 2017, 03:00:33 AM
Well to answer your questions It's a big no! there is many incentive to use bank rather than bitcoin and their is too many services offered in banks that Bitcoin don't have and will not have , and another thing bank has been very useful to bitcoin users because it translates our virtual currency to real cash !
I agree on what  you stated,still banks are reliable source of fiat.Banks exists even those times that there is no bitcoin.Many are relying on what banks has to offer to its customer,there are lots benifits they guarantee if you intrusted your banking with them ,still banks have its strong foundation and i think it can never be dissapeared in that instant.
sr. member
Activity: 434
Merit: 250
January 15, 2017, 01:40:57 AM
Well to answer your questions It's a big no! there is many incentive to use bank rather than bitcoin and their is too many services offered in banks that Bitcoin don't have and will not have , and another thing bank has been very useful to bitcoin users because it translates our virtual currency to real cash !
legendary
Activity: 2534
Merit: 1338
January 15, 2017, 01:20:20 AM
It just don’t seem possible for banks to disappear, those institutions have been around for hundreds of years and it does not make a lot of sense for them to disappear that quickly.
MMA
legendary
Activity: 1134
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January 14, 2017, 06:11:04 PM
The banks will not disappear because most of people in the world use bank credits. Like mortgage, vehicle loans, home loans, consumer loan or commercial loan. Maybe one day we can receive all these loans as a bitcoin but the place where we are going to receive all these loans is the banks.


But if people are not use fiat anymore, bank will be use less. loan money from bank is not good for us, the bank interest make us hard to pay our debt. The annuity interest is adverse the customer.
but i think it is no possible in near future that people will stop using fiat currency, because still a negligible % of people are using bitcoin as currency and it will take decades when at least half the people of the world will start using bitcoin. therefore i do not think that is possible in near future.
sr. member
Activity: 714
Merit: 250
January 14, 2017, 05:26:23 PM
The banks will not disappear because most of people in the world use bank credits. Like mortgage, vehicle loans, home loans, consumer loan or commercial loan. Maybe one day we can receive all these loans as a bitcoin but the place where we are going to receive all these loans is the banks.


But if people are not use fiat anymore, bank will be use less. loan money from bank is not good for us, the bank interest make us hard to pay our debt. The annuity interest is adverse the customer.
legendary
Activity: 1596
Merit: 1011
January 14, 2017, 05:23:42 PM
The banks will not disappear because most of people in the world use bank credits. Like mortgage, vehicle loans, home loans, consumer loan or commercial loan. Maybe one day we can receive all these loans as a bitcoin but the place where we are going to receive all these loans is the banks.


one day credit could be taken hostage in order to bitcoin. because the system is the same, namely to lend some money. bitcoin loans will certainly help us in the transaction.
sr. member
Activity: 994
Merit: 391
January 14, 2017, 05:15:12 PM
The banks will not disappear because most of people in the world use bank credits. Like mortgage, vehicle loans, home loans, consumer loan or commercial loan. Maybe one day we can receive all these loans as a bitcoin but the place where we are going to receive all these loans is the banks.

sr. member
Activity: 462
Merit: 250
January 14, 2017, 03:50:30 PM
I don't think so Bank is important because we keep our money it is real money that you can hold it Bitcoins is just a virtual money.
i think the importance of bitcoin cannot be ignore so soon. as still less than 1% people are using bitcoin, therefore almost all the people of the world are using fait and banks are important for fiat therefore the importance of fiat cannot be be ignore in present time.
member
Activity: 134
Merit: 10
January 14, 2017, 11:48:12 AM
I don't think so Bank is important because we keep our money it is real money that you can hold it Bitcoins is just a virtual money.
sr. member
Activity: 378
Merit: 250
January 14, 2017, 11:00:44 AM
For me, bitcoins can not make banks disappear. First, they are now working together even they function differently. Their combinations is one of the successful moments especially to BTC. I consider both of them to improve and to have better development in our economy.

Yes banks cannot be disappeared easily by bitcoins. And as of the moment there is no bank that is ready to accept bitcoin but there are some that are showing interest with it. But this is a risky move for the banks, because of its decentralization that can cause economic collapse if all the people will use bitcoin because it doesn't have indefinite value.
Clearly it's impossible to happen, banks are for fiat and it cannot accept bitcoins as there definition of bitcoin is properly. Bitcoin will be widely used online but it will not a time that it will be legalized as a currency. Every country has their own, so why would a bank entertain bitcoin.
currently they may not entertain bitcoin but in future when states will consider bitcoin as legal currency the probably banks will also accept bitcoin and they will create online system for it.
hero member
Activity: 3024
Merit: 745
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January 14, 2017, 06:06:58 AM
Banks will not disappear, they will just change with time (if it comes) and integrate the blockchain tech in their system. People will still need loans and banks are the only way to provide them. Likewise fiat currency will also not disappear just degrade in value.

They will still remain because the government needs their service and I don't think government will simply rely to the whole blockchain technology and it is a risk for them if they will let the banks disappear and let bitcoin to take cover for its job. They can adopt bitcoin but don't think that it can make them disappear easily, they are just like gold that has been there for centuries.

as long as many people still believe with the banks, i think government will not erase the bank itself and bitcoin will work together with the banks. but for make banks disappear, i think its not possible because people still trust and still using the banks for many things like for payments, saving, or make investment with the banks.

They will not really going to remove the banking industry. Because a lot of money the government is generating profit from its taxation. Every service that a customer that avails in the bank, all of them does have tax. And for each transaction we are making with them, the government is getting benefits from it, so it is impossible that one of the life giver of a country will be removed just because of bitcoin.
hero member
Activity: 700
Merit: 500
January 14, 2017, 02:07:37 AM
I think it will even be the opposite and that means that the bitcoin will lose it from the banks!
I don’t think that bitcoin or any other thing will make banks disappear, we are always in need for a place to store our money, we can’t just put our money in our house or wallets, we need a safe place to store them in.

We can’t really on bitcoin and online wallets because they are always related to the internet so if the internet goes down so is the bitcoin too. Banks may survive as people always will prefer having second options.

Bitcoin will dominate in future still banks will continue their services wherever bitcoin is not available.
hero member
Activity: 3178
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January 14, 2017, 01:48:10 AM
For me, bitcoins can not make banks disappear. First, they are now working together even they function differently. Their combinations is one of the successful moments especially to BTC. I consider both of them to improve and to have better development in our economy.

Yes banks cannot be disappeared easily by bitcoins. And as of the moment there is no bank that is ready to accept bitcoin but there are some that are showing interest with it. But this is a risky move for the banks, because of its decentralization that can cause economic collapse if all the people will use bitcoin because it doesn't have indefinite value.
Clearly it's impossible to happen, banks are for fiat and it cannot accept bitcoins as there definition of bitcoin is properly. Bitcoin will be widely used online but it will not a time that it will be legalized as a currency. Every country has their own, so why would a bank entertain bitcoin.
each country will definitely need a bank that will produce fiat, and it will continue to run. today, bitcoin has not been recognized as a currency, but already has a high price. but, with potential like that, bitcoin bank will not make disappear. it is because bitcoin is not created by the state, and I think, at this time, bitcoin is only seen as a tool to multiply money.
Bank is here to give us security with our deposits, banks provide insurance for free and we are also entitled to receive interest income from our deposits, I do not now with other country but in our country that's the law. Bitcoin is not yet popular in our country but I believe it will be in the near future, let's just see what will happen but I'm sure it will not replace banks.
hero member
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January 14, 2017, 01:14:20 AM
For me, bitcoins can not make banks disappear. First, they are now working together even they function differently. Their combinations is one of the successful moments especially to BTC. I consider both of them to improve and to have better development in our economy.

Yes banks cannot be disappeared easily by bitcoins. And as of the moment there is no bank that is ready to accept bitcoin but there are some that are showing interest with it. But this is a risky move for the banks, because of its decentralization that can cause economic collapse if all the people will use bitcoin because it doesn't have indefinite value.
Clearly it's impossible to happen, banks are for fiat and it cannot accept bitcoins as there definition of bitcoin is properly. Bitcoin will be widely used online but it will not a time that it will be legalized as a currency. Every country has their own, so why would a bank entertain bitcoin.
each country will definitely need a bank that will produce fiat, and it will continue to run. today, bitcoin has not been recognized as a currency, but already has a high price. but, with potential like that, bitcoin bank will not make disappear. it is because bitcoin is not created by the state, and I think, at this time, bitcoin is only seen as a tool to multiply money.
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