Topic: Can Bitcoin make Banks disappear? - page 187. (Read 427614 times)
I doubt any company besides banks will loan you some ammount to you repay withing 40 years or 50 years,they take the risk and in the most cases they are able to get around 200% the investment ammount.Bitcoin hasnt such structure,to try to enter on these market,try to get a loan for 1 year with bitcoin and see how difficult they will throw at you ,asking several things,proofs,anyway the thing is banks has a fee high but offer an unique repayment time .
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.
I think the older people dont even know what Bitcoins is and what you can do with it and that is the problem.
Banks will disappear, this can not be determined, the money exists, the bank will exist.If the bitcoin replaces the paper currency, or other digital currency to replace the paper money,then the bank may disappear.There is also a possibility, the bank will also choose another way.
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 think it is impossible for bitcoin can be more powerful than the government, and I think as long as fiat still control the banks will never disappear,
Well to be honest this is a very good question,yes it Can make banks disaappear .bitcoins is the new future .well there should be a education system for bitcoins so that more and more people know about bitcoins .then only salary can be taken as bitcoins and whole ovet banking system will be taken by bitcoins.kudoos:)
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.
Bitcoin can not make banks disappear because it has not parallel system to replace all the things what banks are doing and services they are providing. Bitcoin has controlled a large portion of banking services mostly online related things already and that is sufficient to keep focus on. They will exist in working together atmosphere continuously.
i think bitcoin can replace banks as we can see that the new trend of the new generation is toward online trading and shopping, they mostly do shopping online, and the the trend is now even in progress in underdeveloped countries, so if all the people of the world start using crypto currencies then there will be no use of banks and banks will automatically disappear, 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.
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.
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.
off course can bitcoin not make banks disappear what will the world be like if there where no banks. Where do we all need to store our money i dont think it would verry save on earth on that moment.
I thought you are going to answer it YES because you agree with ofcourse then segway lol, anyways bitcoin can't really make banks disappeared even bitcoin will becoming more popular than bank, We are using banks since bitcoin not alive in that year and bank helps us to save and to earn money.People have more faith in banks as they are using it since long time and there are many people who are not aware about bitcoins yet and even if they get aware they will continue to use banks and not bitcoins.
I don't think bank will go disappear because bank has it's own important. And many people don't trust bitcoin or don't true security of bitcoin.So, they feel safe to keep money in bank only.Again, Bank can support bitcoin & work together with crypto currency like bitcoin.This can bring more profit to bank.
No doubt, banks will never disappear because of bitcoin, yeah you are right, the security is better in banks, aside from that your money there if stolen or robbed, it is insured, that means you don't have to worry much about your savings, unlike in bitcoin, if it was stolen, well you have nothing to do but cry and regret that you didn't make your bitcoin secure.
I don't think bank will go disappear because bank has it's own important. And many people don't trust bitcoin or don't true security of bitcoin.So, they feel safe to keep money in bank only.Again, Bank can support bitcoin & work together with crypto currency like bitcoin.This can bring more profit to bank.
It's something unlikely to happen in this decade or the next. But at some point, when Bitcoin becomes mainstream, people will lessen dependence on banks.
No one really knows on what would happen on the future. Technology is upgrading fast as we all know that and the possibilities that might happen to bitcoin is there . Banks would be still there for sure because fiat wont die so, banks will not die too.
Yeah. Banks will continue if fiat will not die. And i think it will not happen since fiat is the main currency that is being used by the majority. There will gonna be some changes in the system of banking but i think banks wont disappear. For me bitcoin cannot make it disappear since bitcoin has its own system and standing in the community so as the banks.
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. 
It's something unlikely to happen in this decade or the next. But at some point, when Bitcoin becomes mainstream, people will lessen dependence on banks.
That is for sure going to happen if bitcoin reaches mainstream as many people already are stopping believing on banks and they are willing to have other ways of storing their money securely so if bitcoin reaches that place where people would believe it totally they would probably turn their faces towards it, but i'm afraid not everyone is going to do that.
It's something unlikely to happen in this decade or the next. But at some point, when Bitcoin becomes mainstream, people will lessen dependence on banks.
No one really knows on what would happen on the future. Technology is upgrading fast as we all know that and the possibilities that might happen to bitcoin is there . Banks would be still there for sure because fiat wont die so, banks will not die too.
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.
It's something unlikely to happen in this decade or the next. But at some point, when Bitcoin becomes mainstream, people will lessen dependence on banks.
Bitcoin could replace banks on storing your money, but for now it can make them disapear. But banks will need to improve its services because other fintech companies could replace them on lending, and other services.
I do not want banks to improve their service, I would rather bitcoin take over for them, because they charge so many fees it is unreal. Did you know their lending laws in the USA allow them to loan out 1,000% of what you have in savings with them. So if you deposit 100k into the bank, they will give you 2% if you are lucky and they will be able to loan out 1 Million dollars that the government will back at the average interest rate of 11.3%. So for the $3thousand you make, max, in interest per year, they make an average of 110k!! Anyone else like banks to satay around?Well, all of banks not only on US do make this kind of business. All banks do such thing and we cant really do anything about it because we do use banks on storing up our fiat currency. You like it or not they really do benefit from it and also, no matter how bitcoin would fly its wings on the future. It would not replace or make banks disappear because government would not let this things to happen.
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