Topic: Can Bitcoin make Banks disappear? - page 164. (Read 427614 times)
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
I think bitcoin without banks will be fine, for example, now. I myself, can make investments with bitcoin without banks, because only by storing your bitcoin in bitcoin wallet and if prices go up then you can get benefit. Although the number of your bitcoin has not increased, but the exchange rate against the fiat will increase. So bitcoin without banks,definitely will be fine. Thank you
The problem will come the moment you cash out your bitcoins, how do you enjoy your bitcoin when it's not convertible to cash?Although we are investing and earning from bitcoin, it is still important to accept what is real that banks is all we need to enjoy what we have. Like in my case, I have open an account in our local exchange site and I cash out directly my income in the bank thru ATM.
That's right, the right way to enjoy bitcoin is simply exchanged for fiat. So we need a bank, but we do not redeem bitcoin directly to the bank, right?
We need a third party who had money in the bank, and he wants to buy our bitcoin. In other words, you send your bitcoin to the person and the person sends money from his bank account to your bank account. I think this also applies to the exchanger you are looking for. because I think now there has been no official banks that accept bitcoin. Thank you
The problem will come the moment you cash out your bitcoins, how do you enjoy your bitcoin when it's not convertible to cash?
You can. That's the point. This isn't a problem, atleast now. Let's just assume that you can't convert your coins to cash using a bank account. Then it's okay. Just look for a buyer of bitcoins and you can gain profits by doing so since you can add some "transaction fee" or something. You can also look for people that wants to buy some thing online but can't because he doesn't have bitcoins. Buy the item for them and then they'd pay you in fiat. Simple as that.Although we are investing and earning from bitcoin, it is still important to accept what is real that banks is all we need to enjoy what we have. Like in my case, I have open an account in our local exchange site and I cash out directly my income in the bank thru ATM.
Like what I said, there are other ways to cash out besides cashing out thru ATM. 
I quite agree with you, because the bank is not a currency. Bank just a suggestion where to save your money with various benefits offered. Same with my opinion, bitcoin might not be able to shift or even abolish the bank. As long as banks still get benefit from fiat and government not prohibit the existence of the bank, the bank will still be there. And bitcoin be an alternative place your investment. Thank you
Bitcoin without banks = bitcoin with no investments. you have bitcoin but what can you do with it. ok, you can spend it. addresses don't grow in value by themselves. If you want to grow yr amount of bitcoin then you will need some sort financial institution to do that for you. unless its a casino, it will essentially be a bank.I think bitcoin without banks will be fine, for example, now. I myself, can make investments with bitcoin without banks, because only by storing your bitcoin in bitcoin wallet and if prices go up then you can get benefit. Although the number of your bitcoin has not increased, but the exchange rate against the fiat will increase. So bitcoin without banks,definitely will be fine. Thank you
Although we are investing and earning from bitcoin, it is still important to accept what is real that banks is all we need to enjoy what we have. Like in my case, I have open an account in our local exchange site and I cash out directly my income in the bank thru ATM.
I quite agree with you, because the bank is not a currency. Bank just a suggestion where to save your money with various benefits offered. Same with my opinion, bitcoin might not be able to shift or even abolish the bank. As long as banks still get benefit from fiat and government not prohibit the existence of the bank, the bank will still be there. And bitcoin be an alternative place your investment. Thank you
Bitcoin without banks = bitcoin with no investments. you have bitcoin but what can you do with it. ok, you can spend it. addresses don't grow in value by themselves. If you want to grow yr amount of bitcoin then you will need some sort financial institution to do that for you. unless its a casino, it will essentially be a bank.I think bitcoin without banks will be fine, for example, now. I myself, can make investments with bitcoin without banks, because only by storing your bitcoin in bitcoin wallet and if prices go up then you can get benefit. Although the number of your bitcoin has not increased, but the exchange rate against the fiat will increase. So bitcoin without banks,definitely will be fine. Thank you
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.
No I do not think that this can happen if I have to be honest, banks are too powerful and can even maybe let the bitcoin disappear.
I also have my doubts about that, banks are having more power and are mostly even controlled partly by the government.
No I do not think that this can happen if I have to be honest, banks are too powerful and can even maybe let the bitcoin disappear.
I also have my doubts about that, banks are having more power and are mostly even controlled partly by the government.
No I do not think that this can happen if I have to be honest, banks are too powerful and can even maybe let the bitcoin disappear.
No I do not think that banks can be destroyed by the bitcoin itself, the government will indeed stop this and the banks itself also has enough power to stop this easily.
i think no one can stop bitcoin not the governments and nor the banks, banks and governments have to admire the importance of bitcoin and they have to accept bitcoin as legal currency. the banks will also start accepting bitcoin in future. but even so, I'm sure bitcoin will continue to grow
Everyone do not have enough resources to mine bitcoin so without banks we can not buy Bitcoin and if we can not buy Bitcoin and hold it than it is useless so without banks Bitcoin is nothing it is useless technology.
No, it won't make banks disappear because you cannot cash-out bitcoin crypto currency into fiat cash money if there is no bank. Bank is a reliable and secure storage of people's money so it plays an important role of every currency that is circulating around the world so it wouldn't be disappeared, although bitcoin is popular nowadays it has its own advantages compared to banks but bitcoin really needs a bank for fiat currency transactions.
When something is found and look better, certainly there are concerns. Same as bitcoin and banks, according to me it's different functions, the bank will never disappear because the bank is subject and bitcoin is object. The transaction can be done by yourself, certainly will not automatically eliminate the function of the bank.
Just as people have a home? Whether the hotel will close? In fact the hotel remain crowded.
Just as people have a home? Whether the hotel will close? In fact the hotel remain crowded.
I quite agree with you, because the bank is not a currency. Bank just a suggestion where to save your money with various benefits offered. Same with my opinion, bitcoin might not be able to shift or even abolish the bank. As long as banks still get benefit from fiat and government not prohibit the existence of the bank, the bank will still be there. And bitcoin be an alternative place your investment. Thank you
When something is found and look better, certainly there are concerns. Same as bitcoin and banks, according to me it's different functions, the bank will never disappear because the bank is subject and bitcoin is object. The transaction can be done by yourself, certainly will not automatically eliminate the function of the bank.
Just as people have a home? Whether the hotel will close? In fact the hotel remain crowded.
Just as people have a home? Whether the hotel will close? In fact the hotel remain crowded.
I quite agree with you, because the bank is not a currency. Bank just a suggestion where to save your money with various benefits offered. Same with my opinion, bitcoin might not be able to shift or even abolish the bank. As long as banks still get benefit from fiat and government not prohibit the existence of the bank, the bank will still be there. And bitcoin be an alternative place your investment. Thank you
Banks look after your money, they lend it out, charge interest and then pay you interest. In theory. Bitcoin is just a bank account in isolation with none of the supporting infrastructure. With no banks, who will give you a mortgage or an overdraft? Where will small businesses get their startup capital from?
I agree with your points that banks have a lot of other tasks to complete not only to save money of people so banks will not be disappeared with the establishment of bitcoin.What? Do you think that a country will protect bitcoin and not the banks? There are even countries that are not welcoming bitcoin.
And that is a sign which bitcoin cannot replace banks. Because those services that are being provided by the banks are important for the citizens.
Because people that are not knowledgeable with bitcoin are not going to trust it easily.
When something is found and look better, certainly there are concerns. Same as bitcoin and banks, according to me it's different functions, the bank will never disappear because the bank is subject and bitcoin is object. The transaction can be done by yourself, certainly will not automatically eliminate the function of the bank.
Just as people have a home? Whether the hotel will close? In fact the hotel remain crowded.
Just as people have a home? Whether the hotel will close? In fact the hotel remain crowded.
You will still need banks one way or another in the near future.
It all depends on how governments and regulators will handle Bitcoin in the next 10 years.
If they go full troll on them I doubt Banks will disappear. Maybe we will see a shift to decentralized banks with all the new fintech innovation that is going on nowadays...
It all depends on how governments and regulators will handle Bitcoin in the next 10 years.
If they go full troll on them I doubt Banks will disappear. Maybe we will see a shift to decentralized banks with all the new fintech innovation that is going on nowadays...
Banks look after your money, they lend it out, charge interest and then pay you interest. In theory. Bitcoin is just a bank account in isolation with none of the supporting infrastructure. With no banks, who will give you a mortgage or an overdraft? Where will small businesses get their startup capital from?
I agree with your points that banks have a lot of other tasks to complete not only to save money of people so banks will not be disappeared with the establishment of bitcoin.What? Do you think that a country will protect bitcoin and not the banks? There are even countries that are not welcoming bitcoin.
And that is a sign which bitcoin cannot replace banks. Because those services that are being provided by the banks are important for the citizens.
Because people that are not knowledgeable with bitcoin are not going to trust it easily.
I don't think that a country will completely rely to a crypto currency that has only 21 million supply. Because they know the risk about it.
What if almost 10 million coins has being held by a whale and that country surely will be in danger and their economy will be manipulated easily by that whale.
So, I really don't think that bitcoin will replace banks.
I'm optimistic that someday bitcoin will be available in banks, so banks and bitcoin will cooperate. I never thought that any bank will disappear, including the presence of bitcoin.
No I do not think that banks can be destroyed by the bitcoin itself, the government will indeed stop this and the banks itself also has enough power to stop this easily.
i think no one can stop bitcoin not the governments and nor the banks, banks and governments have to admire the importance of bitcoin and they have to accept bitcoin as legal currency. the banks will also start accepting bitcoin in future. but even so, I'm sure bitcoin will continue to grow
What they can do is to require exchanges to regulate strict measures to comply with the basic governmental rules especially the anti money laundering act and to make sure every suspicious illegal transactions shall be reported. Overall, we can easily be trace as in the end we will convert bitcoin to fiat.
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