Can Bitcoin make Banks disappear? - page 186.

Ziskinberg

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Quote from: Senja Kemuning on November 16, 2016, 08:38:35 PM

Quote from: wxa7115 on November 16, 2016, 07:30:46 PM

Quote from: Barbut on November 15, 2016, 08:53:41 PM

Quote from: jonpande on November 15, 2016, 01:06:45 AM

Bitcoin Can Make Banks disappear? Of course not, because bitcoin is not able to completely change the money and as money there will be no bank will also, unless, you are more powerful than governments in each country.

I like to believe that people are stronger then governments and establishment. Banking system exists for a long time, my opinion is that bitcoin is better and if people of this world see as I do we can change this world together.
When people are united anything can happen, I know here we talk about far future but changes are inevitable. I strongly believe that bitcoin is capable for this, one day we will see how people quitting from banks and joining bitcoin, that will be great turnover.

I would like to believe that too but the power of banks and governments has grown significantly especially in the last century, while the power of the people mostly remained unchanged until the advent of the Internet.

It is more to the functions and services to the public. If the service at the bank, then the bank will automatically close. I am sure with the bitcoin will change the pattern of bank from manual to full machine and IT system.

it's either we will adopt or the bank will adopt to the respective system, most likely when it's going to be regulated the government will let us adopt to the banking system and we will lose our freedom in using it, the fact that we can transact online without restriction we can do banking and I consider blockchain as our bank.

Senja Kemuning

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Quote from: wxa7115 on November 16, 2016, 07:30:46 PM

Quote from: Barbut on November 15, 2016, 08:53:41 PM

Quote from: jonpande on November 15, 2016, 01:06:45 AM

Bitcoin Can Make Banks disappear? Of course not, because bitcoin is not able to completely change the money and as money there will be no bank will also, unless, you are more powerful than governments in each country.

I like to believe that people are stronger then governments and establishment. Banking system exists for a long time, my opinion is that bitcoin is better and if people of this world see as I do we can change this world together.
When people are united anything can happen, I know here we talk about far future but changes are inevitable. I strongly believe that bitcoin is capable for this, one day we will see how people quitting from banks and joining bitcoin, that will be great turnover.

I would like to believe that too but the power of banks and governments has grown significantly especially in the last century, while the power of the people mostly remained unchanged until the advent of the Internet.

It is more to the functions and services to the public. If the service at the bank, then the bank will automatically close. I am sure with the bitcoin will change the pattern of bank from manual to full machine and IT system.

wxa7115

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Quote from: Barbut on November 15, 2016, 08:53:41 PM

Quote from: jonpande on November 15, 2016, 01:06:45 AM

Bitcoin Can Make Banks disappear? Of course not, because bitcoin is not able to completely change the money and as money there will be no bank will also, unless, you are more powerful than governments in each country.

I like to believe that people are stronger then governments and establishment. Banking system exists for a long time, my opinion is that bitcoin is better and if people of this world see as I do we can change this world together.
When people are united anything can happen, I know here we talk about far future but changes are inevitable. I strongly believe that bitcoin is capable for this, one day we will see how people quitting from banks and joining bitcoin, that will be great turnover.

I would like to believe that too but the power of banks and governments has grown significantly especially in the last century, while the power of the people mostly remained unchanged until the advent of the Internet.

Bitcoin0916

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Future day, I sure that bank will disappear, now the signs was already, in ATM machine we can save our money and all transactions bank can be change and handle with ATM machine. After bitcoin found, of course bank disappear not need waiting for long, maybe 15 years again, it's come true.

Yakamoto

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Quote from: d@nte on November 16, 2016, 06:48:30 PM

Even bitcoin having a revolutionary technology, I do not think this would make the banks disappear. Many people still depend on banks, and these banks are institutions with a lot of financial resources, they could find ways to adapt.
It's common to hear news from banks working on projects related to blockchain technologies, for example.

Banks would always find a way to adapt, with or without fiat money being the primary form of their functionality. They would just really, really prefer that Bitcoin doesn't enter the mainstream because if something like that happens, there would be a huge discrepancy with what they would be able to loan out and keep within their vaults, and that proceeds to limit their ability to make money off of FRL.

Blockchain technologies are applicable and useful for them; Bitcoin is not.

d@nte

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Even bitcoin having a revolutionary technology, I do not think this would make the banks disappear. Many people still depend on banks, and these banks are institutions with a lot of financial resources, they could find ways to adapt.
It's common to hear news from banks working on projects related to blockchain technologies, for example.

rizkyhiw

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Quote from: bettercrypto on November 16, 2016, 01:09:58 PM

I don't think bitcoin can make banks disappear. The reason is that banks are already established and supported by the government while bitcoin is not supporter by the government and there are only a few percentage of the population supporting it. It may change how bank deal with people but bitcoin will never make banks disappear.

Banks could disappeared as time goes by if people feel not satisfied
As technology keep growing and colaborated with financial services I think this gonna be perfect reason to leave banking system
Move to blockchain financial system where you can rule your own bank
I just not sure when exactly this situation happened.

one-day0

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Quote from: mrkevio on November 16, 2016, 01:59:07 PM

Quote from: Herbet Fry on November 16, 2016, 01:14:48 PM

Quote from: BTCBinary on January 11, 2016, 09:40:58 PM

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?

I think ot can if bitcoin spreads over more areas in the world. I thu k more hitech CPU tries will use ot more since it is new and the future of finances.

It can't because Bitcoin cannot borrow you money and cannot offer the same, so-called "services" the Banks can. People will continue falling for the lies and some of them really need to borrow money for business or who knows what else. Anyways, Bitcoin will never get the necessary popularity to make them disappear because the authorities cannot let this happen... It would be too much freedom for all, wouldn't it?

It is quite likely. Although I must completely agree with your opinion. All what a user can expect bitcoin, it is easy to operate and even to pay the tax in the near future. Anonymity income is contrary to the laws of many countries and that they are correct.

mrkevio

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Quote from: Herbet Fry on November 16, 2016, 01:14:48 PM

Quote from: BTCBinary on January 11, 2016, 09:40:58 PM

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?

I think ot can if bitcoin spreads over more areas in the world. I thu k more hitech CPU tries will use ot more since it is new and the future of finances.

It can't because Bitcoin cannot borrow you money and cannot offer the same, so-called "services" the Banks can. People will continue falling for the lies and some of them really need to borrow money for business or who knows what else. Anyways, Bitcoin will never get the necessary popularity to make them disappear because the authorities cannot let this happen... It would be too much freedom for all, wouldn't it?

d-trixx

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Quote from: Herbet Fry on November 16, 2016, 01:14:48 PM

Quote from: BTCBinary on January 11, 2016, 09:40:58 PM

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?

I think ot can if bitcoin spreads over more areas in the world. I thu k more hitech CPU tries will use ot more since it is new and the future of finances.

I do not argue with the fact that new technology is the future of the world, but you need to answer the question of how much we are ready to move entirely in bitcoin or simply digital currency. Some of the world in general still lags behind at least half a century.

Herbet Fry

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Quote from: BTCBinary on January 11, 2016, 09:40:58 PM

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?

I think ot can if bitcoin spreads over more areas in the world. I thu k more hitech CPU tries will use ot more since it is new and the future of finances.

bettercrypto

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I don't think bitcoin can make banks disappear. The reason is that banks are already established and supported by the government while bitcoin is not supporter by the government and there are only a few percentage of the population supporting it. It may change how bank deal with people but bitcoin will never make banks disappear.

berserkinterbuy

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Quote from: BrockHunter on November 15, 2016, 10:28:58 PM

Quote from: akashborikar on November 15, 2016, 02:46:59 AM

I dont think it possible to disappear a bank. Many people use banks and that is really important for them.
I think the older people dont even know what Bitcoins is and what you can do with it and that is the problem.

Nope its not possible and you are right but its also that banks are simply way to powerful they are together a sort of controlling the whole world.

If bitcoin will go the same way of working as real banks, I do not think that this will be the best choice. It all depends on how will their work relates to the users, and how to be served by ordinary citizens. If bitcoin offers good and favorable conditions it is possible to take out it is in the lead.

BrockHunter

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Quote from: akashborikar on November 15, 2016, 02:46:59 AM

I dont think it possible to disappear a bank. Many people use banks and that is really important for them.
I think the older people dont even know what Bitcoins is and what you can do with it and that is the problem.

Nope its not possible and you are right but its also that banks are simply way to powerful they are together a sort of controlling the whole world.

BitcoinPanther

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Quote from: IsaacBitcoiner on November 15, 2016, 08:59:47 PM

Quote from: akashborikar on November 15, 2016, 02:46:59 AM

I dont think it possible to disappear a bank. Many people use banks and that is really important for them.
I think the older people dont even know what Bitcoins is and what you can do with it and that is the problem.

It is well known that a lot of people are not aware of Bitcoin. This is one of the limitations that Bitcoin needs to overcome before it becomes mainstream,
because many people have a tendency to avoid new technologies, especially if they don't know how it works.

I think slowly bitcoin is conquering online transaction industry. The one hindering it is the position of government towards bitcoin. There are lots of internet person who already known bitcoin especially some popular sites like steam is accepting bitcoin as a payment. If the government favors bitcoin usage then, the daily adoption of bitcoin will exponentially increase due to government backing the use of bitcoin.

IsaacBitcoiner

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Quote from: akashborikar on November 15, 2016, 02:46:59 AM

I dont think it possible to disappear a bank. Many people use banks and that is really important for them.
I think the older people dont even know what Bitcoins is and what you can do with it and that is the problem.

It is well known that a lot of people are not aware of Bitcoin. This is one of the limitations that Bitcoin needs to overcome before it becomes mainstream,
because many people have a tendency to avoid new technologies, especially if they don't know how it works.

Barbut

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Quote from: jonpande on November 15, 2016, 01:06:45 AM

Bitcoin Can Make Banks disappear? Of course not, because bitcoin is not able to completely change the money and as money there will be no bank will also, unless, you are more powerful than governments in each country.

I like to believe that people are stronger then governments and establishment. Banking system exists for a long time, my opinion is that bitcoin is better and if people of this world see as I do we can change this world together.
When people are united anything can happen, I know here we talk about far future but changes are inevitable. I strongly believe that bitcoin is capable for this, one day we will see how people quitting from banks and joining bitcoin, that will be great turnover.

Doamader

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Well bitcoin even with its huge potencial its very hard, banks will always provide their lending service, bitcoin wont allow such feature loans for over 1 year even above 30 days its very hard.

wxa7115

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Quote from: hajimasan on November 11, 2016, 10:23:18 PM

Quote from: BTCBinary on January 11, 2016, 09:40:58 PM

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?

In my opinion bank can never be disappear . Atleast in 40-50 year bank can never be disappear , because the main reason behind this phrase is that a big part of the population of the world is uneducated and this will take much time to became aware about this and use online payment .

Banks most likely wont disappear but they will need to adapt, some will be more successful with that than others and those will become the dominant banks of the future.

Xester

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Quote from: asuryan180 on November 14, 2016, 11:30:50 PM

Quote from: stadus on November 14, 2016, 11:21:56 PM

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Quote from: Blitzboy on November 14, 2016, 10:50:09 AM

Quote from: altcoinnxt on November 14, 2016, 10:35:18 AM

This won't gonna happen because bitcoin and bank are not related to each other. Bitcoin server purpose of transaction without fees I mean less fees and bank charges heavy transaction fees but generally we use bank to store our money because it centralised and problem with decentralized is that if system get hacked then no one will come to give back my money.

Yeah I have the same thought, banks and bitcoin are two different concept and bitcoin doesn't have anything to deal with bank's existence. And banks are under controlled by the government and they has become a major part in people's life so it's quite an impossible mission to make banks disappear.

True, I think even if Fiat currency disappear and electronic currency or cryptocurrency ruled, banks will not disappear. Banks have a purpose in this world that is why they are still here. Banks pool money and lend it to people who need money. This makes the world go round. This is credit. The concept is to give people more wiggle room to transact.

Banks are too stable to make it disappear, thinking that it will disappear is like saying that the government will disappear.. Not gonna happen unless their a total chaos in the world and when there's no chaos there is now law at all, so having to imagine the worst scenario, it will not happen now and in the future.

Exactly,there is practically no stability in the worild right now and banks have been known for so long to provide such stability,we know that they actually don't,however they preserve this image which isn't going to disappear anytime soon as it seems.So it will be really hard for Bitcoin to completely destroy the banks so they no longer exist really,but it will be good if something close to this happens.

That's is really impossible. Bitcoins are popular, yes, but it is not enough to defeat stable establishment like banks. still many people are not familiar with bitcoins, crypto currency will become popular but it was just like that. many people will still prefer to save on bank like the way of traditional way of saving money. Bitcoins can be an options but not to the point to defeat banks.

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