Can Bitcoin make Banks disappear? - page 180.

Xenophoto

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Quote from: Roboabhishek on November 26, 2016, 01:33:04 AM

Sometimes i feel why do people make useless threads Undecided

How can OP think that a virtual currency which don't need banks for transaction will be disappeared ..
Bitcoin can't be hacked it can't be stolen easily then why he thinks it's possible ?

Maybe because OP thinks that bitcoin has a really great potential which is enough to make a revolution. A revolution that would make people switch from using fiat/bank into using bitcoins. Once people realize the advantages of using bitcoin, they might forget using banks. Banks are just businesses that needs users in order to continue running. Once people are not using banks anymore, it will eventually shut down. I guess that's the reason why OP asked this, he wants to see how realistic this idea actually is.

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Quote from: deadpoolx on November 25, 2016, 04:57:03 PM

Quote from: lorylore on November 25, 2016, 03:52:04 AM

I dont think bank can disappear. We still need each country to have their own central bank to provide what they own country needs. Different country have different needs and it is very hard to use one btc is classify everything. So the bank will still have its purpose but with more help from btc technology.

Bitcoin is in fact very useful, but it does not make much sense to say that it will make banks disappear. Certainly when more people adapt to Bitcoin and when more merchants start accepting it as payment form, many users will begin to migrate to Bitcoin, but it's still early for this.

Indeed, and bank will remain together with bitcoin working hand in hand. We need both and both has a different dominion. Bank for our money for day to day transaction offline while bitcoin is mostly for online transaction. Though tehre re some overlapping services like you can buy with bitcoin offline or transact using bank issed online but the mere fact that bak is here to stay and establish is hard to disregard.

Roboabhishek

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Sometimes i feel why do people make useless threads Undecided

How can OP think that a virtual currency which don't need banks for transaction will be disappeared ..
Bitcoin can't be hacked it can't be stolen easily then why he thinks it's possible ?

krishna1

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the probabilty is rocket high to the moon, it is sutable in every point to be a better money system then banks. hence bank is mot a money system itself it just help us to cointrol the koney distribution or manages it into the ecosystem. these are same for the whole world

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Quote from: The_prodigy on November 25, 2016, 12:52:08 AM

Bank is much more stronger than Bitcoin and Banks is now more popular and uses by people to save there money from business or any money than came from good work and bitcoin can really bank disppear then what will be the next bank for the world ? It is bitcoin wallet? Lmao bitcoin is not yet that popular so far.

Yes the banks are more stronger and more famous but it does not mean that any other thing like bitcoin can be more stronger and famous in the future but still we cannot say that it will disappear banks because banks do not play only a single role which bitcoin is playing but banks have a number of other roles also which will make them to exist in our environment till the end.

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Quote from: deadpoolx on November 25, 2016, 04:57:03 PM

Quote from: lorylore on November 25, 2016, 03:52:04 AM

I dont think bank can disappear. We still need each country to have their own central bank to provide what they own country needs. Different country have different needs and it is very hard to use one btc is classify everything. So the bank will still have its purpose but with more help from btc technology.

Bitcoin is in fact very useful, but it does not make much sense to say that it will make banks disappear. Certainly when more people adapt to Bitcoin and when more merchants start accepting it as payment form, many users will begin to migrate to Bitcoin, but it's still early for this.

people still feel strange about bitcoin , make hard to adopted ,
so how can bitcoin make banks dissapear while there no mass adoption?
then think we must wait until mass adoption applied ,
and let's see if banks really dissapeared when people prefer to use bitcoin.

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Quote from: deadpoolx on November 25, 2016, 04:57:03 PM

Quote from: lorylore on November 25, 2016, 03:52:04 AM

I dont think bank can disappear. We still need each country to have their own central bank to provide what they own country needs. Different country have different needs and it is very hard to use one btc is classify everything. So the bank will still have its purpose but with more help from btc technology.

Bitcoin is in fact very useful, but it does not make much sense to say that it will make banks disappear. Certainly when more people adapt to Bitcoin and when more merchants start accepting it as payment form, many users will begin to migrate to Bitcoin, but it's still early for this.

Yeah, that thought is absolutely correct. The Bank is something every Government in power, without the bank then all of Government is going to be devastated and will probably happen something problem against the rotation of the State money. so it's not something all of the right things and I'm sure not going to be done well,. Although bitcoin is going to be a very large currency but without the Bank then I'm sure bitcoin will not be useful. because in addition to the bank's storage is a tool for payment

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Quote from: lorylore on November 25, 2016, 03:52:04 AM

I dont think bank can disappear. We still need each country to have their own central bank to provide what they own country needs. Different country have different needs and it is very hard to use one btc is classify everything. So the bank will still have its purpose but with more help from btc technology.

Bitcoin is in fact very useful, but it does not make much sense to say that it will make banks disappear. Certainly when more people adapt to Bitcoin and when more merchants start accepting it as payment form, many users will begin to migrate to Bitcoin, but it's still early for this.

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Quote from: whizter on November 25, 2016, 11:32:52 AM

Quote from: Caladonian on November 25, 2016, 09:33:47 AM

Quote from: Mastsetad on November 25, 2016, 03:43:57 AM

Quote from: hanksBTC on November 25, 2016, 12:37:47 AM

Never! banks will be there as long as governments are there. both go together.

Certainly, as long as governments exist in countries, there is no chance for bitcoin to replace banks as they wont let it happen, they wont let the economy of their country to be out of their control which means they wont have any control on their countrymen.

because if thus how they can make corruption if bitcoin will take the place and take over as a local currency for sure government will not allowed that they want to have everything in their hands this thing will not happen chances is really small for bitcoin to let the bank disappear.

but i think bitcoin can make banks disappear when time come, presently as bitcoin is not so much popular and majority of the people are not using it therefore they are using their old banking system, but the trend of the new generation is totally changing from time to time as the new generation is interested in online business therefore they are giving more preference to bitcoin and making it strong from time to time.

Soo you would trust your bitcoins into a loan over 20 years or for 40 years? Because banks does provide this service, all they use is your salary and property as colateral, they make the payment for you. Do you believe i or someone else will pay you a house for you while you repay me for 40 years, this is if you think into repay me, the result would be i will get a house and you will loose your bitcoins and house at same time, bitcoin cant do this, atleast not now, it must be legalized and then it can be traded and used maybe that way.

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Quote from: Caladonian on November 25, 2016, 09:33:47 AM

Quote from: Mastsetad on November 25, 2016, 03:43:57 AM

Quote from: hanksBTC on November 25, 2016, 12:37:47 AM

Never! banks will be there as long as governments are there. both go together.

Certainly, as long as governments exist in countries, there is no chance for bitcoin to replace banks as they wont let it happen, they wont let the economy of their country to be out of their control which means they wont have any control on their countrymen.

because if thus how they can make corruption if bitcoin will take the place and take over as a local currency for sure government will not allowed that they want to have everything in their hands this thing will not happen chances is really small for bitcoin to let the bank disappear.

but i think bitcoin can make banks disappear when time come, presently as bitcoin is not so much popular and majority of the people are not using it therefore they are using their old banking system, but the trend of the new generation is totally changing from time to time as the new generation is interested in online business therefore they are giving more preference to bitcoin and making it strong from time to time.

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Quote from: Mastsetad on November 25, 2016, 03:43:57 AM

Quote from: hanksBTC on November 25, 2016, 12:37:47 AM

Never! banks will be there as long as governments are there. both go together.

Certainly, as long as governments exist in countries, there is no chance for bitcoin to replace banks as they wont let it happen, they wont let the economy of their country to be out of their control which means they wont have any control on their countrymen.

because if thus how they can make corruption if bitcoin will take the place and take over as a local currency for sure government will not allowed that they want to have everything in their hands this thing will not happen chances is really small for bitcoin to let the bank disappear.

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Quote from: danherbias07 on November 25, 2016, 12:29:18 AM

Quote from: Ziskinberg on November 24, 2016, 11:53:37 PM

Quote from: diegz on November 24, 2016, 10:20:31 PM

Quote from: BitSat on November 24, 2016, 07:00:39 PM

I don't this this can happen as banks have their own value and they are doing too many services in many countries for peoples and bitcoin cannot provide this service to every one its just a digital payment system and banks have no problem with this

Banks has many function in the community, even bitcoin users benefit from its existence. Now, if there is no way that government is going to make it legal and stay as it is now, well, bank is very much useful to us bitcoin user. Day to day transactions when it comes to finance pass thru banks, and bitcoin cannot do that and probably won't in the coming years.

Definitely true, therefore we cannot afford to lose bank in this word, fiat is created by the bank the we are using it everyday, we are lucky to have bitcoin but it should not reach into the level that we should replace bank in the future.

A good conclusion. It is not the bank that should be deleted but the way it is being handled. It is robbing a lot of money by loans and credit cards. Bitcoin is a good proof of it. I dont use banks but I hear a lot of stories into how they are putting percentage on credit cards and loans. This should be stopped and I think bitcoin is one of the best option to change it.

yes that is a fact, in fact bitcoin is not here to disappear banks or devalue any other currency, bitcoin is created for the purpose to facilitae the people of the world in best way and specially those people who are mostly linked with internet and online business.

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Banks will not totally disappear but they might be change into fully virtual or digital bank in not too distant future. just like now, a lot of bank services are converted digitally to make it fast and easy.

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Quote from: Doamader on November 25, 2016, 05:30:11 AM

Politicians does use banks to clean their money, to steal as well, the thing is allowing something decentralized as bitcoin to replace a banks that is regulated by a country, will make the economy colapse almost instant, how can something decentralized be better then a company or currencie that is controlled and managed, this would be good for bitcoin, but not good for the economy.

you have no idea what you are talking, politicians cannot control banks as some banks who are most likely big banks are privately own and even in public you cannot just steal money as it's well accounted.

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Politicians does use banks to clean their money, to steal as well, the thing is allowing something decentralized as bitcoin to replace a banks that is regulated by a country, will make the economy colapse almost instant, how can something decentralized be better then a company or currencie that is controlled and managed, this would be good for bitcoin, but not good for the economy.

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Quote from: lorylore on November 25, 2016, 03:52:04 AM

I dont think bank can disappear. We still need each country to have their own central bank to provide what they own country needs. Different country have different needs and it is very hard to use one btc is classify everything. So the bank will still have its purpose but with more help from btc technology.

It is not really going to disappear just because of bitcoin and banks are being covered by the government. And if the government will allow bitcoin to make banks disappear then their power is not that stronger than we are thinking besides the government is getting big money for the people who are using the banks services so they will not let a big source of blood of the government will be killed by a young currency.

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Quote from: lEgEndArIUs on November 25, 2016, 01:17:03 AM

Quote from: Mr. Big on November 25, 2016, 01:04:28 AM

Quote from: The_prodigy on November 25, 2016, 12:52:08 AM

Bank is much more stronger than Bitcoin and Banks is now more popular and uses by people to save there money from business or any money than came from good work and bitcoin can really bank disppear then what will be the next bank for the world ? It is bitcoin wallet? Lmao bitcoin is not yet that popular so far.

Banks has a lot of function that bitcoin cannot replace... Even if bitcoin go mainstream, we can never see it replace banks, banks are not just into holding and releasing money, they are more than that... Bitcoin wallet is clearly like bank book or ATM, and as I've mention, banks has a responsibility and function more than that.,..

Nothing is impossible, we can see the post office has already started to close, because people already no one sends mail paper, it is very likely to occur in the presence of bitcoin.

Lol yeah it might have happened many many postal workers who are unemployed because there is no letter they could send. since the current round of online and may only be replaced by a fiat digital currency and the bank will disappear

lorylore

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I dont think bank can disappear. We still need each country to have their own central bank to provide what they own country needs. Different country have different needs and it is very hard to use one btc is classify everything. So the bank will still have its purpose but with more help from btc technology.

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Quote from: hanksBTC on November 25, 2016, 12:37:47 AM

Never! banks will be there as long as governments are there. both go together.

Certainly, as long as governments exist in countries, there is no chance for bitcoin to replace banks as they wont let it happen, they wont let the economy of their country to be out of their control which means they wont have any control on their countrymen.

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Quote from: requester on November 25, 2016, 01:31:30 AM

Nope bitcoin can't make banks disappear because bitcoin is a digital money which have no central agency to control the money and it had limited number that is only 21 million which would create scarcity of the money.

Scarcity is a good thing, it gives value to something. There wouldn't be major pumps if there was an unlimited supply of bitcoins. Actually, take a look at the banks. Our fiat money isn't unlimited as well. If everyone in the world was to take their money out of the bank, I'm sure the bank cannot give us that much fiat money.

Bitcoin is decentralized and that's actually the point of it. Bitcoin doesn't have to be centralized in order to surpass the banks. It's the people that has to embrace bitcoin for it to make banks disappear. Bitcoin doesn't need to change anything about its concept. People just have to wake up. Unfortunately, it's not going to happen. People have embraced the banks for so long they forgot that there are better options.

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