Topic: Can Bitcoin make Banks disappear? - page 182. (Read 427614 times)
I dont see how Bitcoin will make Bank disappear because the banking industry has been evolving for centuries to be deeply rooted among us with lots of development, regulations, controls etc. and even still developing the highest I see happening is collaboration for the system behind Bitcoin to be adopted in the banking sector aside that I dont see any disappearance of Banks as a result of Bitcoin...
So Bitcoin can make banks' facade of integrity disappear! Now the People have a choice.
Bitcoin can make banks' monopoly disappear.
I think that is the real purpose. To give people an option. We know banks just made their foundation because they started way back and people dont really have a choice specially when looking for some place or to whom they will borrow some money. Now there is one more other way and also they could invest in it which gives them the position of a manager also.
So Bitcoin can make banks' facade of integrity disappear! Now the People have a choice.
Bitcoin can make banks' monopoly disappear.
That is right. But the banks can also adopt the bitcoin and people still have a choice to use the bank or not.
So Bitcoin can make banks' facade of integrity disappear! Now the People have a choice.
Bitcoin can make banks' monopoly disappear.
I'm afraid that Bitcoin is making Banks APPEAR -- in the form of the IRS 
Apparently the IRS wants to ID me and every other CoinBase User since 2013.
https://www.owler.com/reports/coinbase/the-irs-wants-to-id-every-us-coinbase-user-from-20/1479503880150?utm_campaign=ep&utm_source=snapshot&utm_medium=articlelink&source=snapshot_events_page
Apparently the IRS wants to ID me and every other CoinBase User since 2013.
https://www.owler.com/reports/coinbase/the-irs-wants-to-id-every-us-coinbase-user-from-20/1479503880150?utm_campaign=ep&utm_source=snapshot&utm_medium=articlelink&source=snapshot_events_page
For sure banks will find a way to profit with Bitcoin, they aren't fool and that's why they have all this power. Let's wait for this bomb arrives.
If they can't destroy the blockchain, they will tax, ban exchanges, and things like that, nothing new.
I'm afraid that Bitcoin is making Banks APPEAR -- in the form of the IRS
Apparently the IRS wants to ID me and every other CoinBase User since 2013.
https://www.owler.com/reports/coinbase/the-irs-wants-to-id-every-us-coinbase-user-from-20/1479503880150?utm_campaign=ep&utm_source=snapshot&utm_medium=articlelink&source=snapshot_events_page
Apparently the IRS wants to ID me and every other CoinBase User since 2013.
https://www.owler.com/reports/coinbase/the-irs-wants-to-id-every-us-coinbase-user-from-20/1479503880150?utm_campaign=ep&utm_source=snapshot&utm_medium=articlelink&source=snapshot_events_page
For sure banks will find a way to profit with Bitcoin, they aren't fool and that's why they have all this power. Let's wait for this bomb arrives.
If they can't destroy the blockchain, they will tax, ban exchanges, and things like that, nothing new.
I'm afraid that Bitcoin is making Banks APPEAR -- in the form of the IRS
Apparently the IRS wants to ID me and every other CoinBase User since 2013.
https://www.owler.com/reports/coinbase/the-irs-wants-to-id-every-us-coinbase-user-from-20/1479503880150?utm_campaign=ep&utm_source=snapshot&utm_medium=articlelink&source=snapshot_events_page
Apparently the IRS wants to ID me and every other CoinBase User since 2013.
https://www.owler.com/reports/coinbase/the-irs-wants-to-id-every-us-coinbase-user-from-20/1479503880150?utm_campaign=ep&utm_source=snapshot&utm_medium=articlelink&source=snapshot_events_page
No.
But the IRS can try to call you a bank and make you comply like one. ie Coinbase.
https://www.google.com/amp/s/mercury.postlight.com/amp%3Furl%3Dhttps://fee.org/articles/the-irs-just-declared-war-on-bitcoin-privacy/?client=safari
But the IRS can try to call you a bank and make you comply like one. ie Coinbase.
https://www.google.com/amp/s/mercury.postlight.com/amp%3Furl%3Dhttps://fee.org/articles/the-irs-just-declared-war-on-bitcoin-privacy/?client=safari
Some places maybe
In what particular place you think? Well, i think thats imposible. Banks has an important role on national currency, even if all country will switch to digital currency, banks will never dissapear. Money needs control, and only bank can do that. And many people defends on bank, saving on bank or the old tradition of saving money on bank will never fade even digital currency will introduce to all.
I don't even think that bitcoin will replaced the banks for it is a very important establishment world wide. A country without bank will experience most of the time inflation and if they will allow this to happen. How the government can regulate bitcoin if it is only limited and decentralize. For sure they will just making another problem to their economy.
Some places maybe
In what particular place you think? Well, i think thats imposible. Banks has an important role on national currency, even if all country will switch to digital currency, banks will never dissapear. Money needs control, and only bank can do that. And many people defends on bank, saving on bank or the old tradition of saving money on bank will never fade even digital currency will introduce to all.
I really doubt that because Banks have a lot of power and the governments suppor the banks so it will be really hard for BTC to fully replace the whole banking system.So much more people have to adopt BTC in order for that to happen and also the economy has to change,it is possible but the real question is when it will happen and will there be any restrictions or we will use BTC and cryptocurrencies the way we do today.
it can only be happen when the majority of the people of the world start using bitcoin and if bitcoin can provide all the facliities that banks provide us and only then it can be possible that bitcoin will replace bitcoin. but i think it will take decades.
Totally no. Bitcoin can't make banks to disappear. Banks have very old hystory and they are result of humens progress as bitcoin is. So the maximum that may happen is that banks will start to work with bitcoin as with any other currency. Loans, saving bills and ect. everything as usual, but only in bitcoin or in some other crypto currency. That's our future.
Its definitely possible that bitcoin could make the banks, as we know them, disappear within some time. Bitcoins are definitely affecting how banks work and many of the banks have had to accept/adopt the bitcoin/blockchain system. So, this concept is pretty acceptable, the banks as we know them might just disappear, but only time can tell 
I really doubt that because Banks have a lot of power and the governments suppor the banks so it will be really hard for BTC to fully replace the whole banking system.So much more people have to adopt BTC in order for that to happen and also the economy has to change,it is possible but the real question is when it will happen and will there be any restrictions or we will use BTC and cryptocurrencies the way we do today.
hopefully that someday could become one of the bitcoin payment media legally recognized by the government. it is the first step to make payments bitcoin be better than BANK. bitcoin currently offers a range of varied services. we are just waiting, waiting for the government to support the use of bitcoin on its territory. 
According google the oldest bank which exist until today there is in Siena, Italy, which has been operating continuously since 1472. In my opinion, it is difficult to eradicate from people minds the concept of bank credit; Bitcoin acceptance would be more easy to people had never create a bank account.
Woah thanks for this ancient facts. I've been always amazed for some additional knowledge that I've been acquiring here in forum and with that oldest bank which is still operating is really an old geek bank. That can be a given thing that we like in bitcoin we don't have any account needed in able to use bitcoin but the government doesn't agree with that if all of the people will not use banks.
According google the oldest bank which exist until today there is in Siena, Italy, which has been operating continuously since 1472. In my opinion, it is difficult to eradicate from people minds the concept of bank credit; Bitcoin acceptance would be more easy to people had never create a bank account.
It seems that experts say that Bitcoin 'Here to Stay,' But Banks Could Disappear.
"TheStreet: How do you think FinTech will impact the way banks operate?
Frank Schwab: Banks either react on, or they will disappear. Anyway, the consolidation of the banking industry accelerates as the behaviour of people changes. Some banks will benefit from [FinTech], some will be pushed to the back end, and some will disappear."
http://www.thestreet.com/story/13419089/1/bitcoin-here-to-stay-but-banks-could-disappear-says-fintech-expert.html
What's your read on that?
Certainly, it won't. In order to cash in or out your bitcoin, a bank provides for that transactions. Also, paying bills, loan, insurance are provided and goes through the bank. Without bank, the value of real monies would go down as because there is no centralized system of saving money. Last thing, bitcoin nothing without the banks. "TheStreet: How do you think FinTech will impact the way banks operate?
Frank Schwab: Banks either react on, or they will disappear. Anyway, the consolidation of the banking industry accelerates as the behaviour of people changes. Some banks will benefit from [FinTech], some will be pushed to the back end, and some will disappear."
http://www.thestreet.com/story/13419089/1/bitcoin-here-to-stay-but-banks-could-disappear-says-fintech-expert.html
What's your read on that?
I really doubt that because Banks have a lot of power and the governments suppor the banks so it will be really hard for BTC to fully replace the whole banking system.So much more people have to adopt BTC in order for that to happen and also the economy has to change,it is possible but the real question is when it will happen and will there be any restrictions or we will use BTC and cryptocurrencies the way we do today.
It is not that easy to make bank disappear or to overhal the system. I think bank will remain but their influences or services will be limited as there other services who offers like a bank.Bitcoin a cryptocurrency will play an important role to disrupt this services.
I always think to bitcoin as a good alternative for fiat money in dealing online transactions.. Banks on the other hand is best use as it is for regular fiat money on any physical commercial transactions.
100% impossible because bitcoin is not accepted by all countries and there are many country which are against bitcoin. and bitcoin is not the safest form of money because it has limit of 21 million so this would definitely cause crisis.
That limit is what makes bitcoin valuable. Without limit, it will be just another fiat that can be printed out unlimited, slowing losing value. But even with that said, it cannot make banks disappear. It is not designed to eliminate banks but just an option.
In bitcoin it's fast because regardless of the amount transacted, we all transact in blockchain and the same as small amount.
I really doubt that because Banks have a lot of power and the governments suppor the banks so it will be really hard for BTC to fully replace the whole banking system.So much more people have to adopt BTC in order for that to happen and also the economy has to change,it is possible but the real question is when it will happen and will there be any restrictions or we will use BTC and cryptocurrencies the way we do today.
It is not that easy to make bank disappear or to overhal the system. I think bank will remain but their influences or services will be limited as there other services who offers like a bank.Bitcoin a cryptocurrency will play an important role to disrupt this services.
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