Personally, I think that banks will not disappear at least in the near future. What I believe is in a few years banknotes will disappear and people will transact to a cashless world. India ban notes 500 and 1000 Rs Europe discontinue to print 500 euros and Australia thinks to abolish 100 AUD. So people will mainly use cards and digital currencies. Banks will be forced under the bitcoin pressure to adapt new demanding and unstable environment. Distant future will show the winner.
That is not new at all, governments have tried to eliminate cash for decades since they cannot keep track of how much you have, it seems their dream is coming true but not in the way they expected with the development of bitcoin.
Topic: Can Bitcoin make Banks disappear? - page 172. (Read 427614 times)
Bitcoin in the current situation will not affect the banking system. All the people who own and make banks much trying to find a way for the user control bitcoin. But the banks do not withdraw from the market.
It can affect the banking system when people who are using banking services sees that it is an advantage for them to use bitcoin for sending and accepting payment through it unless their senders and receiver are using bitcoin. Because it is not going to be covered by tax and the fees are even cheaper like the banks are charging but not just because of this, banks will remain and not going to disappear.
Personally, I think that banks will not disappear at least in the near future. What I believe is in a few years banknotes will disappear and people will transact to a cashless world. India ban notes 500 and 1000 Rs Europe discontinue to print 500 euros and Australia thinks to abolish 100 AUD. So people will mainly use cards and digital currencies. Banks will be forced under the bitcoin pressure to adapt new demanding and unstable environment. Distant future will show the winner.
That is not new at all, governments have tried to eliminate cash for decades since they cannot keep track of how much you have, it seems their dream is coming true but not in the way they expected with the development of bitcoin. 
Personally, I think that banks will not disappear at least in the near future. What I believe is in a few years banknotes will disappear and people will transact to a cashless world. India ban notes 500 and 1000 Rs Europe discontinue to print 500 euros and Australia thinks to abolish 100 AUD. So people will mainly use cards and digital currencies. Banks will be forced under the bitcoin pressure to adapt new demanding and unstable environment. Distant future will show the winner.
Bitcoin in the current situation will not affect the banking system. All the people who own and make banks much trying to find a way for the user control bitcoin. But the banks do not withdraw from the market.
I don't believe the banks can be completely wiped out in a moment but I foresee the banks rather investing in bitcoins and gradually replacing them (their fiat) with bitcoins in the future.
They don't need to invest much in Bitcoin. They issue loans nominally in Bitcoin and hand out checkbooks. They don't have to hold the full amount of the checking accounts in Bitcoins, just a fractional reserve. And their loans get paid back in real Bitcoins.
Pretty soon they have a lot of Bitcoins.
No I do not think that this can happen to be honest but of course you never know it, most likely it cannot do this.
Banks are just way too powerful.
yes it is a fact that in near future it is not possible. as majority of people are using fiat as they do not know about bitcoin, therefore banks are their backbone, my me in future when all the people of the world start using bitcoin can make banks disappear. Banks are just way too powerful.
Absolutely, In a few years, I fear that banks will not be around and because there are now peer-to-peer lending platforms and those developing payment systems, based on blockchain technology. Even the Bank of England made a consortium of 50 English banks; those that are completely rebuilt on a model based on blockchain technology. This is alarming and bankers will start losing their jobs in the near future.
It will never happen. Bitcoin doesn't have the power to eliminate the age old banking system from the society. Banks are regulated entity and bitcoin is an unregulated online money not regulated by any central authority. This reason is enough to prove that bitcoin doesn't have the power to eliminate banking system.
But definitely bitcoin is a revolution in the field of internet money which has changed many things. But most of the uneducated people is unaware about bitcoin and only tech savy people know about bitcoin. Those who don't know about bitcoin, they would not believe that money can be mined through a computer program. So, let bitcoin become big in silence and enjoy the fruit without the hope of changing the world.
But definitely bitcoin is a revolution in the field of internet money which has changed many things. But most of the uneducated people is unaware about bitcoin and only tech savy people know about bitcoin. Those who don't know about bitcoin, they would not believe that money can be mined through a computer program. So, let bitcoin become big in silence and enjoy the fruit without the hope of changing the world.
sure it can but bitcoin is not at a war with banks its like banks are no compition to bitcoin at all. we know that bitcoin is very very better than any bank around and banks do not have to be compare with it.lets see what banks can do with bitcoin as an opponent in more 10years
Nope, it can't as mentioned so many times in this thread, it is not only money that is present in the banks, and it is not just its only business... When it comes to which is better, banks still has an advantage over bitcoin... But as you've mention, 10 years from now, maybe there are already changes in bitcoin and that might be enough reason to say that it is already in competition with fiat and banks...
sure it can but bitcoin is not at a war with banks its like banks are no compition to bitcoin at all. we know that bitcoin is very very better than any bank around and banks do not have to be compare with it.lets see what banks can do with bitcoin as an opponent in more 10years
No I do not think that this can happen to be honest but of course you never know it, most likely it cannot do this.
Banks are just way too powerful.
Banks are just way too powerful.
Banks will not disappear and they are also indeed to big, they cannot get defeated by the bitcoin, banks are known for their power and cannot be stopped every country has at least one bank.
In fact, if they use bitcoin, they will be stronger.
It depends on what will be the outcome or they should need to make some dry run first or else they will just going to ignore the usage of bitcoin. Since they are already in the financial industry they don't want to ruin their clients trust just because of decentralized crypto currency. But if a client of them will try to suggest this to them then that will be better.
No I do not think that this can happen to be honest but of course you never know it, most likely it cannot do this.
Banks are just way too powerful.
Banks are just way too powerful.
Banks will not disappear and they are also indeed to big, they cannot get defeated by the bitcoin, banks are known for their power and cannot be stopped every country has at least one bank.
In fact, if they use bitcoin, they will be stronger.
If banks can't control something, then they will simply work around it. It's not for nothing that there are banks with a very hostile Bitcoin policy.
People aren't allowed to enjoy financial freedom. Important aspect is that with Bitcoin you basically rule out banks since it works without a third party or middle man.
No I do not think that this can happen to be honest but of course you never know it, most likely it cannot do this.
Banks are just way too powerful.
Banks are just way too powerful.
Banks will not disappear and they are also indeed to big, they cannot get defeated by the bitcoin, banks are known for their power and cannot be stopped every country has at least one bank.
In fact, if they use bitcoin, they will be stronger.
No I do not think that this can happen to be honest but of course you never know it, most likely it cannot do this.
Banks are just way too powerful.
Banks are just way too powerful.
Banks will not disappear and they are also indeed to big, they cannot get defeated by the bitcoin, banks are known for their power and cannot be stopped every country has at least one bank.
In fact, if they use bitcoin, they will be stronger.
No I do not think that this can happen to be honest but of course you never know it, most likely it cannot do this.
Banks are just way too powerful.
Banks are just way too powerful.
Banks will not disappear and they are also indeed to big, they cannot get defeated by the bitcoin, banks are known for their power and cannot be stopped every country has at least one bank.
Bank will never support bitcoin and otherwise bitcoin will never be supporting it. But honestly, the bitcoin was making it being stronger soon. through the hyperledger, they can exploit more.
I may think it will become compete for bitcoin in the future. Although some was saying if that was like the vaporwave project.
I certainly agree with it, Bank has a separate system that requires it's depositors to comply with the KYC to ensure your transaction will be validated and to determine if you are doing an illegal transaction or not. With bitcoin, we do not go to that process when we open an account, so if you will see it, that is the major difference why bank and bitcoin cannot work together with one purpose. I may think it will become compete for bitcoin in the future. Although some was saying if that was like the vaporwave project.
No I do not think that this can happen to be honest but of course you never know it, most likely it cannot do this.
Banks are just way too powerful.
Banks are just way too powerful.
I don't believe the banks can be completely wiped out in a moment but I foresee the banks rather investing in bitcoins and gradually replacing them (their fiat) with bitcoins in the future.
They don't need to invest much in Bitcoin. They issue loans nominally in Bitcoin and hand out checkbooks. They don't have to hold the full amount of the checking accounts in Bitcoins, just a fractional reserve. And their loans get paid back in real Bitcoins.
Pretty soon they have a lot of Bitcoins.
Yes it can happen that payments with banks will be bitcoin but I don't think that they will allow that bitcoin will replace fiat for real. As we know that the risk is still there and because of the price of bitcoin is not stable enough and cannot be controlled. I don't think they will completely trust their business to a decentralized crypto's.
Bitcoin as a high value store token has been gaining popularity among most of the financial service providers. Banks were the most among those and banks supporting bitcoin won't happen as quoted. Already banking system is with continued plan of updating themselves with the technology but haven't issued willingness to use bitcoin into the banking services.
I may think it will become compete for bitcoin in the future. Although some was saying if that was like the vaporwave project.
I don't believe the banks can be completely wiped out in a moment but I foresee the banks rather investing in bitcoins and gradually replacing them (their fiat) with bitcoins in the future.
They don't need to invest much in Bitcoin. They issue loans nominally in Bitcoin and hand out checkbooks. They don't have to hold the full amount of the checking accounts in Bitcoins, just a fractional reserve. And their loans get paid back in real Bitcoins.
Pretty soon they have a lot of Bitcoins.
Yes it can happen that payments with banks will be bitcoin but I don't think that they will allow that bitcoin will replace fiat for real. As we know that the risk is still there and because of the price of bitcoin is not stable enough and cannot be controlled. I don't think they will completely trust their business to a decentralized crypto's.
Bitcoin as a high value store token has been gaining popularity among most of the financial service providers. Banks were the most among those and banks supporting bitcoin won't happen as quoted. Already banking system is with continued plan of updating themselves with the technology but haven't issued willingness to use bitcoin into the banking services.
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