Can Bitcoin make Banks disappear? - page 178.

8Habits

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Quote from: Barbut on December 05, 2016, 12:41:35 AM

Quote from: Mirconome on December 04, 2016, 11:41:31 PM

In general, the banking system so strong that it will withstand any shocks. It has existed for a long time, long before the emergence of the Internet and even electricity. Therefore, we can conclude that banks will live forever.

Nothing last forever, and banks are indeed old institution and they will disappear one day definitely. The reason of their disappearance will not be cause they are exist so long, it will be cause they are making rich people richer and they don't care about a little guy, and when awareness get to some higher level banks will be abandoned and people will move to alternatives, and for now fiat have just one alternative, bitcoin!

Wow, that is a very strong statement there mate! I really disagree with you that banks will disappear unless we will be in the point of no world order due to big nature calamities or after most of the countries are destroyed due to nuclear bombs from world war, or any related misfortunes.. But I doubt we will come to that point tbh.

RobWhite

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I think digital currencies are not about destroying banks, they are about creating a parallel infrastructure, which allows you to access kind of alternative world.

What can really threaten banks - companies like Alipay, Apple, Facebook, which are entering the finance market.

Barbut

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Quote from: Mirconome on December 04, 2016, 11:41:31 PM

In general, the banking system so strong that it will withstand any shocks. It has existed for a long time, long before the emergence of the Internet and even electricity. Therefore, we can conclude that banks will live forever.

Nothing last forever, and banks are indeed old institution and they will disappear one day definitely. The reason of their disappearance will not be cause they are exist so long, it will be cause they are making rich people richer and they don't care about a little guy, and when awareness get to some higher level banks will be abandoned and people will move to alternatives, and for now fiat have just one alternative, bitcoin!

lilit

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Quote from: Skarner21 on November 27, 2016, 04:12:33 PM

Quote from: lionheart78 on November 27, 2016, 03:22:34 PM

Quote from: Kabul on November 27, 2016, 08:02:26 AM

Quote from: avikz on November 27, 2016, 06:02:41 AM

My answer is no. Bitcoin can be a revolutionary electronic currency but it doesn't have the power to replace the traditional banking system. The reason is simple, bank is a government backed system. Also the Fiat currency is backed by government.

On the other hand bitcoin is backed by people's trust and it doesn't have any Central agency to support so the blockchain system can make an attractive investment route, but replacing banking system is never going to be happen.

I disagree with you. I believe that Bitcoin can easily replace banks in the future. Look at the world right now. We are in the middle of the World fourth technology revolution and the internet steadily replace physical services. And soon, Bitcoin will be a part of this world

I strongly disagree with you on this. Bank is not a currency that compete against Bitcoin, Bank is a financial institution, and this institution is clever enough to even make bitcoin popularity in their favor. And take note, bank operation is not limited to fiat money alone. Bitcoin may disappear but this kind of institution might be modified but will never disappear.

Yeah banks will be stay but bitcoin it can be gone and we cannot use bitcoin in offline mode unlike banks that we can use them online and offline.
Also banks is control by government so it is impossible that banks will disappear.
Bitcoin there is still no assurance that bitcoin will stay long in the future..

Banks is a credit system, which is a huge and sensitive lever of influence on all spheres of human activity. If you look that offers bitcoin in its initial form, the bank lost its relevance because of bitcoin.

Mirconome

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In general, the banking system so strong that it will withstand any shocks. It has existed for a long time, long before the emergence of the Internet and even electricity. Therefore, we can conclude that banks will live forever.

passwordnow

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Quote from: arcanaaerobics on November 27, 2016, 03:43:58 PM

Quote from: buwaytress on November 27, 2016, 03:37:56 PM

Why would banks disappear? Plenty of bitcoin banks online... okay, they may not be as established or as recognised institutions as traditional financial banks but if banks today disappear it will only be because they will be displaced by highly-evolved successors.

How can bitcoin on its own ever replace the roles that banks have?

P.S. I don't like banking in general=)

None likes banks, it's an necessary evil.

Bitcoin don't have the power to replace banks and never will have because it's just an currency.

We can't deny that our country needs the services of banks. Because it is the one that makes the circulation of money to be in a good flow. And if we don't need banks then central banks are not even needed either and no one will ever print our fiat money and oligarchs will control the whole flow of money system. And it is impossible for banks to be replaced by bitcoin because of its decentralization.

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Quote from: Skarner21 on November 27, 2016, 04:12:33 PM

Quote from: lionheart78 on November 27, 2016, 03:22:34 PM

Quote from: Kabul on November 27, 2016, 08:02:26 AM

Quote from: avikz on November 27, 2016, 06:02:41 AM

My answer is no. Bitcoin can be a revolutionary electronic currency but it doesn't have the power to replace the traditional banking system. The reason is simple, bank is a government backed system. Also the Fiat currency is backed by government.

On the other hand bitcoin is backed by people's trust and it doesn't have any Central agency to support so the blockchain system can make an attractive investment route, but replacing banking system is never going to be happen.

I disagree with you. I believe that Bitcoin can easily replace banks in the future. Look at the world right now. We are in the middle of the World fourth technology revolution and the internet steadily replace physical services. And soon, Bitcoin will be a part of this world

I strongly disagree with you on this. Bank is not a currency that compete against Bitcoin, Bank is a financial institution, and this institution is clever enough to even make bitcoin popularity in their favor. And take note, bank operation is not limited to fiat money alone. Bitcoin may disappear but this kind of institution might be modified but will never disappear.

Yeah banks will be stay but bitcoin it can be gone and we cannot use bitcoin in offline mode unlike banks that we can use them online and offline.
Also banks is control by government so it is impossible that banks will disappear.
Bitcoin there is still no assurance that bitcoin will stay long in the future..

i think we can be use bitcoin as fiat in the near future because bitcoin is going more successful currency and bitcoin more move up to improve his facility and then i hope we can be use bitcoin in offline or online mode in the future.

Online it's best but for offline transaction you mean you will have your own paper money from bitcoin. It's not possible until bitcoin will be regulated. We cannot compete with paper money still as the level of awareness of the people regarding bitcoin is not that big.

Imagine what percentage we are holding now.

Skarner21

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Quote from: lionheart78 on November 27, 2016, 03:22:34 PM

Quote from: Kabul on November 27, 2016, 08:02:26 AM

Quote from: avikz on November 27, 2016, 06:02:41 AM

My answer is no. Bitcoin can be a revolutionary electronic currency but it doesn't have the power to replace the traditional banking system. The reason is simple, bank is a government backed system. Also the Fiat currency is backed by government.

On the other hand bitcoin is backed by people's trust and it doesn't have any Central agency to support so the blockchain system can make an attractive investment route, but replacing banking system is never going to be happen.

I disagree with you. I believe that Bitcoin can easily replace banks in the future. Look at the world right now. We are in the middle of the World fourth technology revolution and the internet steadily replace physical services. And soon, Bitcoin will be a part of this world

I strongly disagree with you on this. Bank is not a currency that compete against Bitcoin, Bank is a financial institution, and this institution is clever enough to even make bitcoin popularity in their favor. And take note, bank operation is not limited to fiat money alone. Bitcoin may disappear but this kind of institution might be modified but will never disappear.

Yeah banks will be stay but bitcoin it can be gone and we cannot use bitcoin in offline mode unlike banks that we can use them online and offline.
Also banks is control by government so it is impossible that banks will disappear.
Bitcoin there is still no assurance that bitcoin will stay long in the future..

arcanaaerobics

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Quote from: buwaytress on November 27, 2016, 03:37:56 PM

Why would banks disappear? Plenty of bitcoin banks online... okay, they may not be as established or as recognised institutions as traditional financial banks but if banks today disappear it will only be because they will be displaced by highly-evolved successors.

How can bitcoin on its own ever replace the roles that banks have?

P.S. I don't like banking in general=)

None likes banks, it's an necessary evil.

Bitcoin don't have the power to replace banks and never will have because it's just an currency.

buwaytress

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Why would banks disappear? Plenty of bitcoin banks online... okay, they may not be as established or as recognised institutions as traditional financial banks but if banks today disappear it will only be because they will be displaced by highly-evolved successors.

How can bitcoin on its own ever replace the roles that banks have?

P.S. I don't like banking in general=)

lionheart78

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Quote from: Kabul on November 27, 2016, 08:02:26 AM

Quote from: avikz on November 27, 2016, 06:02:41 AM

My answer is no. Bitcoin can be a revolutionary electronic currency but it doesn't have the power to replace the traditional banking system. The reason is simple, bank is a government backed system. Also the Fiat currency is backed by government.

On the other hand bitcoin is backed by people's trust and it doesn't have any Central agency to support so the blockchain system can make an attractive investment route, but replacing banking system is never going to be happen.

I disagree with you. I believe that Bitcoin can easily replace banks in the future. Look at the world right now. We are in the middle of the World fourth technology revolution and the internet steadily replace physical services. And soon, Bitcoin will be a part of this world

I strongly disagree with you on this. Bank is not a currency that compete against Bitcoin, Bank is a financial institution, and this institution is clever enough to even make bitcoin popularity in their favor. And take note, bank operation is not limited to fiat money alone. Bitcoin may disappear but this kind of institution might be modified but will never disappear.

Skarner21

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Massive price drop coming...

Quote from: elena-tur on November 27, 2016, 03:07:08 PM

Quote from: richardsNY on November 27, 2016, 02:59:05 PM

Quote from: bitbunnny on November 27, 2016, 02:31:12 PM

We are not that lucky, banks will not just disappear. Their loby is too strong and entire worlds' financial system relies on them. Bitcoin can make them to behave and do business different, maybe even more fair, but it can't make them disappear. No matter what people and governments will continue to use banks and their services.

Why should we be lucky when banks would disappear? No matter how anti banks people here are, we can't deny the need of them in our lives. Bitcoin is fine as an alternative to fiat and banks for people looking for financial freedom. So yes, banks will be part of the system as long as governments see them as an added value (in their benefit of course) to the economy. People shouldn't want Bitcoin to replace banks while we can make use of both at the same time without any issues.

For decades, Swiss bank accounts were the ideal place to store funds of entrepreneurs and investors due to anonymity and confidentiality. This is an opportunity to open accounts and exempted from tax liabilities. In the derivation of Bitcoin on the world market, which means end of an era Swiss banks and Bitcoin as a global safe asset.

I think banks still needed than bitcoin .. we can not use bitcoin if offline unlike banks that we can use even offline..
Bitcoin is always just good for alternative like other said .. we can not disappear banks but we can use bitcoin as our alterntive if we want to use it as our bank.. honestly there is no assurance if bitcoin will be gone in the future.. bitcoin is still low in adoption and it needs more company that accepting bitcoin as payment mode.

elena-tur

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Quote from: richardsNY on November 27, 2016, 02:59:05 PM

Quote from: bitbunnny on November 27, 2016, 02:31:12 PM

We are not that lucky, banks will not just disappear. Their loby is too strong and entire worlds' financial system relies on them. Bitcoin can make them to behave and do business different, maybe even more fair, but it can't make them disappear. No matter what people and governments will continue to use banks and their services.

Why should we be lucky when banks would disappear? No matter how anti banks people here are, we can't deny the need of them in our lives. Bitcoin is fine as an alternative to fiat and banks for people looking for financial freedom. So yes, banks will be part of the system as long as governments see them as an added value (in their benefit of course) to the economy. People shouldn't want Bitcoin to replace banks while we can make use of both at the same time without any issues.

For decades, Swiss bank accounts were the ideal place to store funds of entrepreneurs and investors due to anonymity and confidentiality. This is an opportunity to open accounts and exempted from tax liabilities. In the derivation of Bitcoin on the world market, which means end of an era Swiss banks and Bitcoin as a global safe asset.

richardsNY

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Quote from: bitbunnny on November 27, 2016, 02:31:12 PM

We are not that lucky, banks will not just disappear. Their loby is too strong and entire worlds' financial system relies on them. Bitcoin can make them to behave and do business different, maybe even more fair, but it can't make them disappear. No matter what people and governments will continue to use banks and their services.

Why should we be lucky when banks would disappear? No matter how anti banks people here are, we can't deny the need of them in our lives. Bitcoin is fine as an alternative to fiat and banks for people looking for financial freedom. So yes, banks will be part of the system as long as governments see them as an added value (in their benefit of course) to the economy. People shouldn't want Bitcoin to replace banks while we can make use of both at the same time without any issues.

jak3

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bitcoin is being accrpted arount 120 vountrys and many of them have the bitcoin atm too and on the other side banks are already spread around whole world so it make them invurmable but as we know bitcoin is better than banks in all ways so all iy will take is time till people understand bitcoin technology

bitbunnny

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We are not that lucky, banks will not just disappear. Their loby is too strong and entire worlds' financial system relies on them. Bitcoin can make them to behave and do business different, maybe even more fair, but it can't make them disappear. No matter what people and governments will continue to use banks and their services.

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Quote from: d@nte on November 27, 2016, 02:16:05 PM

I think the possibility of making profits from it brings an incentive for people to store value in Bitcoin, and this in fact increases the number of people using it. However, that alone is not enough for people to migrate from the banking systems to Bitcoin platforms, there must be people willing to offer goods and services in exchange for Bitcoin.

Just imagine how much Bitcoin users in the world and is similar to how many people use simple paper money. There are people who do not even know anything about high technologies. Leaving only a single currency Bitcoin, it would condemn all men to destruction.

d@nte

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I think the possibility of making profits from it brings an incentive for people to store value in Bitcoin, and this in fact increases the number of people using it. However, that alone is not enough for people to migrate from the banking systems to Bitcoin platforms, there must be people willing to offer goods and services in exchange for Bitcoin.

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Despite the volatility, Bitcoin is the best currency in the world over the past 5-6 years. Fast-growing performance of digital currency and decentralization have led investors and traders to consider his opinion as a global safe asset.

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Quote from: Doamader on November 27, 2016, 12:45:44 PM

Bitcoin its just an option isnt the solution for all the problems, bitcoin is showing all companies that is possible make their transactions with safety and allowing them to save milions into taxes, something banks does wanna for them, the blockchain. Besides those potencial bitcoin isnt here to replace, with it we are free to use and moove any ammount anytime, something that its restricted to the bank system, and they ask why you wanna to moove and for what, your own money, and you need to give them a reasom, sound funny isnt it?

You can talk and think about Is Bitcoin threat to the global banking system. However, if the digital currency and payment systems will rank equal to existing banks, their disappearance did not hurt.

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