Can Bitcoin make Banks disappear? - page 163.

Hatuferu

legendary

Activity: 1092

Merit: 1000

https://trueflip.io/

Quote from: ?? on ??

Quote from: Text on January 13, 2017, 10:23:04 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.

Fireblade

hero member

Activity: 770

Merit: 500

Quote from: iqlimasyadiqa on January 12, 2017, 07:58:00 AM

Quote from: ZrCoin on January 11, 2017, 05:52:12 PM

It will take a lot of time when all people of the world will start using bitcoin instead of fiat currency and then they will use wallets instead of banks accounts. For now banks and cryptocurrencies ll share functions and somehow devide market. It's what we can see and it's what hapenning right now.

I prefer to use them both. because each has its advantages and disadvantages. we can take advantage of all the features which the reliability of bitcoin and real money. there are portion of each that must be shared.

currently all the people are using them both. actually the users of bitcoin are still very low and majority of people do not know about bitcoin therefore they still using fiat and in backward countries where there is no internet and computer facilities there also people do not know about bitcoin and they also depend on fiat currency.

mornabo

hero member

Activity: 1148

Merit: 504

Quote from: Text on January 13, 2017, 10:23:04 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.

yeah they are different. unless fiat totally defeated by bitcoin bank certainly will not be longer as storing facilities for fiat, but I think it is impossible fiat can be defeated by bitcoin

Fireblade

hero member

Activity: 770

Merit: 500

Quote from: Mystic Saiyan on January 12, 2017, 08:07:09 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.

yes i also think so, bitcoin is not going to disappear bank, because banks runs over fiat and fiat are still very strong because almost all the people still using fiat as primary currency and after that some people are using bitcoin as currency.

mastica

hero member

Activity: 938

Merit: 500

Quote from: Qunenin on January 13, 2017, 09:42:10 AM

Quote from: marcuslong on January 12, 2017, 07:57:07 AM

Yet people will be on depend on bank , banks are in the long run where people using it to keep their money safe from spending it nor there are saving it from there work their salary per month if bitcoin will banks disappear it depends on bank and the goverment it self. If goverment says to bank to closed they will be closed but if bitcoin will make bank disappear it wont be happen

From the past 8 years up to the present bitcoin is have been giving us a really great benefits and we still have our freedom on managing our money using bitcoin, we escaped the traditional banking systems and we don't have to pay for a large taxes.

You know that savings doesnt charge any kind of fees and you can use it as a normal account pay, transfer, sure it has some fees but would be just transaction fees. Banks are following the market, and people are becaming more digital year by year, i cant say when and if will happen but maybe in the future we can buy and sell our bitcoins directly with bank accounts without be worryed if they will frozen the funds.

DerDerrick

newbie

Activity: 33

Merit: 0

I think it will even be the opposite and that means that the bitcoin will lose it from the banks!

Text

hero member

Activity: 2464

Merit: 594

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.

Qunenin

hero member

Activity: 966

Merit: 506

Quote from: marcuslong on January 12, 2017, 07:57:07 AM

Yet people will be on depend on bank , banks are in the long run where people using it to keep their money safe from spending it nor there are saving it from there work their salary per month if bitcoin will banks disappear it depends on bank and the goverment it self. If goverment says to bank to closed they will be closed but if bitcoin will make bank disappear it wont be happen

From the past 8 years up to the present bitcoin is have been giving us a really great benefits and we still have our freedom on managing our money using bitcoin, we escaped the traditional banking systems and we don't have to pay for a large taxes.

(altair)

sr. member

Activity: 308

Merit: 250

I don't know but I think that bitcoin can't make the banks disappear,but we can't tell what might happen in the future who know's bitcoin is becoming so popular this days,but there are still other country that does not support this crypto currency

MFahad

hero member

Activity: 2506

Merit: 645

Eloncoin.org - Mars, here we come!

Quote from: LovelyPrey on January 13, 2017, 06:01:30 AM

A good way to think about it right now is that bitcoin is like throwing a 20 pound weight off the side of an ocean liner (a large ship) under full cruise. Bitcoin is a very small drag on the banking system. VERY SMALL. Banks are based on leveraging debt, there will always be plenty of people (and plenty of companies, and plenty of countries) willing to take on debt for both good and bad reasons.
In this world order banks disappear impossible. Banks can change system for bitcoin or something else. Banks determine the world order. Behind the banks there are rich family like Rothschild, Rockefeller. They wont let banks disappear because their power comes from the banks...That is what I know.

I don’t think so, but there is a big hope for Bitcoin, online and networked payment systems eliminating banks is like inevitable in the future. Sooner or later, it is gonna happen. And If something does cause this, then it might as well be bitcoin.

Md Saad

sr. member

Activity: 584

Merit: 256

I don't think so. Because if any earn bitcoin then that person have to keep that. to keep any valuable think bank is perfect. Not only that bank also can invest those for the betterment of a country.... Roll Eyes

ethereumhunter

hero member

Activity: 2912

Merit: 541

Leading Crypto Sports Betting & Casino Platform

Quote from: tabas on January 13, 2017, 06:58:47 AM

Quote from: Mystic Saiyan on January 12, 2017, 08:07:09 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.

tabas

hero member

Activity: 3024

Merit: 745

Top Crypto Casino

Quote from: Mystic Saiyan on January 12, 2017, 08:07:09 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.

LovelyPrey

member

Activity: 70

Merit: 10

A good way to think about it right now is that bitcoin is like throwing a 20 pound weight off the side of an ocean liner (a large ship) under full cruise. Bitcoin is a very small drag on the banking system. VERY SMALL. Banks are based on leveraging debt, there will always be plenty of people (and plenty of companies, and plenty of countries) willing to take on debt for both good and bad reasons.
In this world order banks disappear impossible. Banks can change system for bitcoin or something else. Banks determine the world order. Behind the banks there are rich family like Rothschild, Rockefeller. They wont let banks disappear because their power comes from the banks...That is what I know.

bitkilo

legendary

Activity: 1638

Merit: 1010

https://www.bitcoin.com/

Quote from: Mystic Saiyan on January 12, 2017, 08:07:09 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.

Governments will soon come around and figure out that the only way to combat the digital currency era is to join it so they can still impose their ways on their citizens.
Instead of the fed "printing" money like we used to say the new saying for them will soon become something like "premined"

BitHodler

legendary

Activity: 1526

Merit: 1179

Quote from: animax on January 12, 2017, 08:09:07 AM

i feel sick when i read the word "bank"

In the way that you're tired of these type of threads or that you don't like banks in general?

If the first case, then yes, it some times is quite annoying to see that some people think that it's possible for Bitcoin to replace banks in current form.

Whether we like it or not, we are tied to banks as there is no better way (aside from Bitcoin, Gold, etc) to store your fiat savings.

That being said, I personally don't have any problems when making use of my bank account. It does exactly that what I want it to do. And all that for a montly fee of €1.

lol3c

hero member

Activity: 518

Merit: 500

Quote from: iqlimasyadiqa on January 12, 2017, 07:58:00 AM

Quote from: ZrCoin on January 11, 2017, 05:52:12 PM

It will take a lot of time when all people of the world will start using bitcoin instead of fiat currency and then they will use wallets instead of banks accounts. For now banks and cryptocurrencies ll share functions and somehow devide market. It's what we can see and it's what hapenning right now.

I prefer to use them both. because each has its advantages and disadvantages. we can take advantage of all the features which the reliability of bitcoin and real money. there are portion of each that must be shared.

I also think that using both kinds of currencies will give the best result, as each currency has its own benefits and limits and we should take advantage of ways. And the world is not ready for such a huge change in the economic world as people still enjoy the pleasure of using fiat money rather than bitcoin, it's a hard task to use only bitcoin.

animax

newbie

Activity: 19

Merit: 0

i feel sick when i read the word "bank"

Mystic Saiyan

newbie

Activity: 10

Merit: 0

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.

iqlimasyadiqa

legendary

Activity: 1596

Merit: 1011

Quote from: ZrCoin on January 11, 2017, 05:52:12 PM

It will take a lot of time when all people of the world will start using bitcoin instead of fiat currency and then they will use wallets instead of banks accounts. For now banks and cryptocurrencies ll share functions and somehow devide market. It's what we can see and it's what hapenning right now.

I prefer to use them both. because each has its advantages and disadvantages. we can take advantage of all the features which the reliability of bitcoin and real money. there are portion of each that must be shared.

Topic: Can Bitcoin make Banks disappear? - page 163. (Read 427614 times)