Can Bitcoin make Banks disappear? - page 165.

mornabo

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Quote from: MMA on January 10, 2017, 01:25:39 PM

Quote from: FrannWilder on January 10, 2017, 08:30:47 AM

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.

Lol I think there is no necessity of government to legalize bitcoin, you can not intervene in the government to legalize bitcoin, because it is futile
but even so, I'm sure bitcoin will continue to grow

Gameroid

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Quote from: MMA on January 10, 2017, 01:25:39 PM

Quote from: FrannWilder on January 10, 2017, 08:30:47 AM

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.

yes i also agree with you i also think that no one can stop bitcoin from becoming a global currency. evenr the government cannot stop it, i think in future the banks and states will consider bitcoin as legal currency and then bitcoin will become more predominant and trusted.

MMA

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Quote from: FrannWilder on January 10, 2017, 08:30:47 AM

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.

MMA

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Quote from: poplolnman on January 10, 2017, 07:01:52 AM

Quote from: jossiel on January 10, 2017, 05:36:53 AM

Quote from: JANGKRIK BOSS on January 10, 2017, 05:08:27 AM

Quote from: gtglener on January 09, 2017, 06:15:36 PM

Quote from: thirdprize on January 09, 2017, 11:58:27 AM

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.

Certainly the country will protect the bitcoin, channeling money and money circulation of course still the task of the bank. Although the bitcoin already massive use will never eliminate the function of the bank.

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 wouldn't say bitcoin can't reaplace banks. cause nothing impossible and so does in this matter. indeed for now we can't see a strong reason why banks could be replaced by bitcoin, but who knows in the future? where bitcoin / cryptocurrency system urgently needed . people would of course follow and use bitcoin technology instead banks.

to me i think it may not be possible in near future, but if the number of bitcoin users increase and all the people of the world start using bitcoin and if they have easy access to bitcoin shops then it can effect the efficiency of bitcoin.

Evansloin

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Quote from: Rinder on January 10, 2017, 09:52:04 AM

Be realistic bitcoin has no way to remove the current fiat, neither any currencie, soo why you think it would be able to replace the most powerful company that are banks, without them you cant do anything nowadays. In the future as we moove into the digital money instead of printed money maybe bitcoin can have a bigger space and who knows be used as colateral for loans at the banks.

Indeed this will never happen without any doubts, its just not possible and will also not happen for sure, I think its way early to also think about this.

Rinder

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Be realistic bitcoin has no way to remove the current fiat, neither any currencie, soo why you think it would be able to replace the most powerful company that are banks, without them you cant do anything nowadays. In the future as we moove into the digital money instead of printed money maybe bitcoin can have a bigger space and who knows be used as colateral for loans at the banks.

Oralmat

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Quote from: machinek20 on January 09, 2017, 07:17:57 AM

Quote from: Gutierez on January 09, 2017, 04:25:37 AM

On basically, Bitcoin can kill the banks in the future if bitcoin is accepted as legal currency in the world. you are using bitcoin for payment, purchase, trading, investing or holding it as like as assests and currency. This is good condition to make a new change in the future and Of Course bitcoin will be a digital cryptocurrency bank in the future.

Bitcoin or any crypto currencies wont be able to make bank disappear, bank is the economic foundation of a country, and bitcoin is not enough for all people in the world, if the all of the transaction in the world only depend on bitcoin to do the transaction there will be chaos in the country

Yes, I agree that it won’t make the bank disappear at this moment because bitcoin is just making its own name at the moment, and it is growing now as we can see many people where trying to engage to bitcoin now even some establishments and business, so time will come bitcoin can defeat the bank, let us just wait and make fun on earning it now.

Mbah Slamet

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I think not possible existence bitcoin make Bank disappear. Bank is the most important thing to the country's economic, remove the Bank's just the same let economic chaotic and mess with no clear direction.

ged00u

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Quote from: FrannWilder on January 10, 2017, 08:30:47 AM

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 don't assume so, bitcoin can't destroy banks and the other way around is true too. As bitcoin's existence doesn't have anything to deal with banks' ones, bitcoin is cryptocurrency, which is new technology, and throughout the time, it has claimed its position in the economic world, while banks represent for fiat money, which is one of the first things that appeared in the world development and still plays an important role in our life, these two things can't eliminate each other.

Harlot

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Quote from: Jackido on January 10, 2017, 08:39:29 AM

Quote from: FrannWilder on January 10, 2017, 08:30:47 AM

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.

Yes, It can . if bitcoin is accepted by government , I'm sure Bitcoin can make banks disappear at one. Now. there are many people using bitcoin for payment, purchase, trading online. It's easy and fast in transaction.

Why? Now let say the government accepts Bitcoin then automatically Businesses and related establishments will also accept Bitcoin because it is now legal in their country and that is including banks. Banks or Big companies can adapt to big changes and that is including the adaption of Bitcoin to their system. No tycoon will close down because of some kind of currency.

Rinder

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Quote from: john2231 on January 10, 2017, 07:50:38 AM

Quote from: poplolnman on January 10, 2017, 07:01:52 AM

Quote from: jossiel on January 10, 2017, 05:36:53 AM

Quote from: JANGKRIK BOSS on January 10, 2017, 05:08:27 AM

Quote from: gtglener on January 09, 2017, 06:15:36 PM

Quote from: thirdprize on January 09, 2017, 11:58:27 AM

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.

Certainly the country will protect the bitcoin, channeling money and money circulation of course still the task of the bank. Although the bitcoin already massive use will never eliminate the function of the bank.

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 wouldn't say bitcoin can't reaplace banks. cause nothing impossible and so does in this matter. indeed for now we can't see a strong reason why banks could be replaced by bitcoin, but who knows in the future? where bitcoin / cryptocurrency system urgently needed . people would of course follow and use bitcoin technology instead banks.

Its obvious that its impossible to happen and people are always taking care their money where they can save their money for safety.. do you think people will trust bitcoin and save their money for the long time in bitcoin.. they are always want that their money to be safe.. so banks is their to taking their money.. because bitcoin still online currency and they can not trust their money in bitcoin wallet..

Banks arent soo safe as they look and they advertise, but well currently its the main place where people let their money and fortunes, and they wont moove into bitcoin or any other crypto currencie, even if a bank creat a crypto coin it will be hard to trust them, crypto its something new for the most it will require time to be understood and supported by all people.

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Quote from: FrannWilder on January 10, 2017, 08:30:47 AM

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.

Yes, It can . if bitcoin is accepted by government , I'm sure Bitcoin can make banks disappear at one. Now. there are many people using bitcoin for payment, purchase, trading online. It's easy and fast in transaction.

Etaurith

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Quote from: FrannWilder on January 10, 2017, 08:30:47 AM

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.

Indeed the fact that they have too much power to let them disappear, I think that it even will be more likely the opposite in the future.

FrannWilder

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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.

Babayega31

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Quote from: john2231 on January 10, 2017, 07:50:38 AM

Quote from: poplolnman on January 10, 2017, 07:01:52 AM

Quote from: jossiel on January 10, 2017, 05:36:53 AM

Quote from: JANGKRIK BOSS on January 10, 2017, 05:08:27 AM

Quote from: gtglener on January 09, 2017, 06:15:36 PM

Quote from: thirdprize on January 09, 2017, 11:58:27 AM

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.

Certainly the country will protect the bitcoin, channeling money and money circulation of course still the task of the bank. Although the bitcoin already massive use will never eliminate the function of the bank.

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 wouldn't say bitcoin can't reaplace banks. cause nothing impossible and so does in this matter. indeed for now we can't see a strong reason why banks could be replaced by bitcoin, but who knows in the future? where bitcoin / cryptocurrency system urgently needed . people would of course follow and use bitcoin technology instead banks.

Its obvious that its impossible to happen and people are always taking care their money where they can save their money for safety.. do you think people will trust bitcoin and save their money for the long time in bitcoin.. they are always want that their money to be safe.. so banks is their to taking their money.. because bitcoin still online currency and they can not trust their money in bitcoin wallet..

I also agree with that its impossible to happen because many investors entrusted their money to banks and they don't want that to happen. Bitcoin is a unique type of currency in a different way and it doesn't mean if we use bitcoin it will disappear; it has its own advantages and fiat currency in banks safekept by investors is secured so if you cash out your btc you need the bank for your savings for the future and storing bitcoin at online wallet is unsecured because its vulnerable to be hacked.

john2231

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Quote from: poplolnman on January 10, 2017, 07:01:52 AM

Quote from: jossiel on January 10, 2017, 05:36:53 AM

Quote from: JANGKRIK BOSS on January 10, 2017, 05:08:27 AM

Quote from: gtglener on January 09, 2017, 06:15:36 PM

Quote from: thirdprize on January 09, 2017, 11:58:27 AM

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.

Certainly the country will protect the bitcoin, channeling money and money circulation of course still the task of the bank. Although the bitcoin already massive use will never eliminate the function of the bank.

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 wouldn't say bitcoin can't reaplace banks. cause nothing impossible and so does in this matter. indeed for now we can't see a strong reason why banks could be replaced by bitcoin, but who knows in the future? where bitcoin / cryptocurrency system urgently needed . people would of course follow and use bitcoin technology instead banks.

Its obvious that its impossible to happen and people are always taking care their money where they can save their money for safety.. do you think people will trust bitcoin and save their money for the long time in bitcoin.. they are always want that their money to be safe.. so banks is their to taking their money.. because bitcoin still online currency and they can not trust their money in bitcoin wallet..

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Quote from: jossiel on January 10, 2017, 05:36:53 AM

Quote from: JANGKRIK BOSS on January 10, 2017, 05:08:27 AM

Quote from: gtglener on January 09, 2017, 06:15:36 PM

Quote from: thirdprize on January 09, 2017, 11:58:27 AM

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.

Certainly the country will protect the bitcoin, channeling money and money circulation of course still the task of the bank. Although the bitcoin already massive use will never eliminate the function of the bank.

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 wouldn't say bitcoin can't reaplace banks. cause nothing impossible and so does in this matter. indeed for now we can't see a strong reason why banks could be replaced by bitcoin, but who knows in the future? where bitcoin / cryptocurrency system urgently needed . people would of course follow and use bitcoin technology instead banks.

deppil

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Quote from: JANGKRIK BOSS on January 10, 2017, 05:08:27 AM

Quote from: gtglener on January 09, 2017, 06:15:36 PM

Quote from: thirdprize on January 09, 2017, 11:58:27 AM

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.

Certainly the country will protect the bitcoin, channeling money and money circulation of course still the task of the bank. Although the bitcoin already massive use will never eliminate the function of the bank.

True though bitcoin widely used even though later it would not make banks disappear, because banks controlled by the government, so the government will always defend the bank from any threat

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Quote from: JANGKRIK BOSS on January 10, 2017, 05:08:27 AM

Quote from: gtglener on January 09, 2017, 06:15:36 PM

Quote from: thirdprize on January 09, 2017, 11:58:27 AM

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.

Certainly the country will protect the bitcoin, channeling money and money circulation of course still the task of the bank. Although the bitcoin already massive use will never eliminate the function of the bank.

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.

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Quote from: btcdiggingmaster on January 10, 2017, 12:25:37 AM

Quote from: BestWebCreator on January 09, 2017, 04:42:55 AM

Bitcoin can make banks disappear, but only with permission from the banks, because their stay is determined by those banks. Think about what I am saying, it is true. I have talked to alot of banks and they gave me this impression.

It is not possible because because bitcoin are completely accepted by the government till now, yes right now many people are doing bank transaction to buy bitcoin, they are accepting it because till now government not suggested them to ban those transaction. Once if governments accepts bitcoin than banks will setup up a separate data centers for bitcoin exchanges like buying and selling according to market capitalization.

Why would any government "accept" Bitcoin? It doesn't make any sense as it's simply not in their interest to show whatever support for Bitcoin. The only thing they care about when it comes to Bitcoin is the technology behind Bitcoin, the blockchain. That's why not only governments and banks, but also corporations look to develop a private (centralized) version of the blockchain. Especially because of the fact that it will allow them to operate far more cost and time effective.

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