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.
Topic: Can Bitcoin make Banks disappear? - page 166. (Read 427614 times)
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.
Well here's another answer and I'm quoting from frankly1...
though bitcoin is a Jet. it seems the banks are building the hyperledger aircraft carrier, and getting involved with letting the Jet sit on it
check out hyperledger. (members: blockstream and the banks)
https://www.hyperledger.org/about/members
check out who is attending the Satoshi roundtable (blockstream and the banks)
https://bitcointalksearch.org/topic/bitcoin-devs-ceos-others-to-gather-for-satoshi-roundtable-retreat-this-month-1745409
check out hyperledger. (members: blockstream and the banks)
https://www.hyperledger.org/about/members
check out who is attending the Satoshi roundtable (blockstream and the banks)
https://bitcointalksearch.org/topic/bitcoin-devs-ceos-others-to-gather-for-satoshi-roundtable-retreat-this-month-1745409
So bitcoin won't make banks disappear. Banks will want to learn more about bitcoin and the blockchain and use it to their advantage
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.Bitcoin is only limited as a currency we can use for online transaction where no management that would update the laws of our banking system as it's fixed which is decentralized.
While with banks, they have the central bank who regularly monitor their compliance and update the laws to protect always the interest of the depositors.
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. 
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
that is right. bitcoin's market cap is very low than fiat. so it is not available to be used by every people around the world. it means that fiat will still exist. and as long as fiat exist, I think banks will still exist.
I dont see bitcoin in the near future replacing such companies, banks has full support from their country, as well trust from the most people, that uses them for several services. Bitcoin to be replacing banks, it would require become legal, then centralized, and we do know this its impossible, soo no way to this happen.
so true. I think so many processes required to bitcoin can compete with the banks. banks have greater support, not just from the government, however, all the support that came from all the people that exist in the country. Well, bitcoin has not had a great support like that, so I guess today bitcoin bank may not make disappear.
I dont see bitcoin in the near future replacing such companies, banks has full support from their country, as well trust from the most people, that uses them for several services. Bitcoin to be replacing banks, it would require become legal, then centralized, and we do know this its impossible, soo no way to this happen.
so true. I think so many processes required to bitcoin can compete with the banks. banks have greater support, not just from the government, however, all the support that came from all the people that exist in the country. Well, bitcoin has not had a great support like that, so I guess today bitcoin bank may not make disappear.
No I do not think that the bitcoin can let the banks disappear, they are simply way too strong to get taken over, the government will always not tolerate this..
Bitcoin will never make banks disappear. They would buy up the whole supply before they let that happen. If all the world banks got together and bought up what's in circulation and controlled the mining, that would be more suitable for them.
I dont see bitcoin in the near future replacing such companies, banks has full support from their country, as well trust from the most people, that uses them for several services. Bitcoin to be replacing banks, it would require become legal, then centralized, and we do know this its impossible, soo no way to this happen.
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?
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.
In the above quote its been well described about the bitcoin applications such as trading, investing, purchase and so on. At the same when it comes to banking, it emerged as an alternative for banking. So if public is not satisfied by the banking services they move for an alternate solution. But they won't completely ignore bank and move to bitcoin. I believe bitcoin replacing banks is highly impossible.
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.
Banks can't do much without guidance from the government, and thus it's not the banks, but the governments that have the final bit of saying here. Banks don't only serve as an easy way of transacting, storing money, taking loans, etc, but also as a tool for governments to determine who owns what amount. It's not in the governments benefit to replace or change the current banking structure. But that's also not something we as Bitcoiners should be focusing at as it's quite pointless.
Yeah even though banks will allow to make their industry gone because of bitcoin still they are not the one to decide it. Since banks are one of the high paying tax industries and services for sure government will not allow this to happen and besides people will still rely to banks as it is more trusted rather than with a decentralized crypto.
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
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.
Dew to bitcoin is limited currency (there are only 21 mln coins now) bitcoin will be not enough for all humanity on the Earth. So I really doubt that bitcoin will make banks disappear. I think bitcoin is going to be used just some pecent of people in future, and the maximum of this people will have less than 1 BTC.When you give such global prognoses to bitcoin keep in mind that it is limited.
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.
Banks can't do much without guidance from the government, and thus it's not the banks, but the governments that have the final bit of saying here. Banks don't only serve as an easy way of transacting, storing money, taking loans, etc, but also as a tool for governments to determine who owns what amount. It's not in the governments benefit to replace or change the current banking structure. But that's also not something we as Bitcoiners should be focusing at as it's quite pointless.
I think banks are important and trusted financial network and there is necessity of Banks at grassroot level. Bitcoin is at certain level which have strong security and many other features, so I personally think that banks should be there for better distribution of Fiat currency to end user.
Bitcoin is Innovative invention which have already open door to new era of economics and Revolutionary finance system. So I think we have to respect Bitcoins parameter.
Bitcoin is Innovative invention which have already open door to new era of economics and Revolutionary finance system. So I think we have to respect Bitcoins parameter.
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.
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.
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