Can Bitcoin make Banks disappear? - page 193.

Carlsen

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Quote from: erickkyut on November 05, 2016, 02:32:45 AM

Even though bitcoin is becoming very popular, it still cannot replace or make banks disappear! Banks have been with is for ages and they are quite stable when it comes to monetary issues. Aside from that, bitcoin is still not accepted in some parts of the world.

I would say that bitcoin is not accepted in most parts of the world. When i look around in my area and wanted to purchase anything for bitcoin in real life, I would come back empty handed.
Besides, banks offer more than money transfer. They give services a lot of people need. Advisement in how to invest money for example.
Bitcoin can not do that.

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Quote from: erickkyut on November 05, 2016, 02:32:45 AM

Even though bitcoin is becoming very popular, it still cannot replace or make banks disappear! Banks have been with is for ages and they are quite stable when it comes to monetary issues. Aside from that, bitcoin is still not accepted in some parts of the world.

Very true. It is not that popular to local people. Still they are preferred to use the banks and even at work you will be paid through the bank then to your ATM or a check. So it became a free advertisement to those banks. Bitcoin is not like that. Some people are just using it for sending money or buying online stuff which is really helpful also.

erickkyut

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Even though bitcoin is becoming very popular, it still cannot replace or make banks disappear! Banks have been with is for ages and they are quite stable when it comes to monetary issues. Aside from that, bitcoin is still not accepted in some parts of the world.

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Quote from: klopcoin on November 04, 2016, 11:01:08 PM

Right now there is no such thing the can challange the banks. Their monopoly is just to strong.
Perhpas if some big wall street firms step in with bitcoin venture we can see this happeningMany people need some normal banks. Some people doesnt even know what Bitcoin is.
So how it is possible to make the banks disappear. First we must introduce Bitcoin to them and that it is maybe possible later in the future. Do you think so ?

All the big banks are already looking into blockchain technology and will be using it for money transfers within their own banks very soon i believe. The problem for bitcoin is that these banks only want the blockchain technology not bitcoin, they will most likely look to create their own coins down the track.

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Right now there is no such thing the can challange the banks. Their monopoly is just to strong.
Perhpas if some big wall street firms step in with bitcoin venture we can see this happeningMany people need some normal banks. Some people doesnt even know what Bitcoin is.
So how it is possible to make the banks disappear. First we must introduce Bitcoin to them and that it is maybe possible later in the future. Do you think so ?

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Quote from: delliaerd on November 04, 2016, 08:43:06 PM

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Quote from: carriebee on November 04, 2016, 05:49:40 AM

I dont think banks will disappear over bitcoin. Banks will change its
service but not to disappear. Bitcoin is not yet well known in my
country. There is a need of proper introducing bitcoin so that all
people here in my country would easily understand its process.
Lastly, banks will not be diasppear in the long run.

Of course it won't because banks are playing an important role for a government and they are one of the industries that are contributing big tax in for a country. It can be possible that the banks are going to make bitcoins disappear as they are covered by the government but bitcoin isn't. And you are right, they can just simply adopt bitcoins services rather than making it disappear.

Yes I am agree with you. bank And goverment are made cooperation in since very very long time ago. they are support each other. country economy is nothing without bank. and bank is nothing without the support of goverment. bitcoin Is good but it is just a currency, it used for buying or selling activity, but Bank is a big corpiration. May be bank will adipt bitcoun as alternatif currency. We have to keep use and support bitcoin.

Banks are control by government and banks who made our money.. for every country..
If we are talking about bitcoin its just an online alternative currency that we can use online buying and shopping.. if we are lucky that more adoption will come in bitcoin that can accept bitcoin locally in some stores bitcoin is a good alternative to use since we already use it and know the benefits..

klopcoin

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We will still need banks as not everyone will use Bitcoin. We are already seeing banks for Bitcoin. If anything banks as we know them may have to move with the times and start bitcoin accounts. At the end of the day banks make money of our money they will want to try making money from bitcoin too.Both can run because none of them influence the other in any manner.

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Quote from: mirakal on November 04, 2016, 10:24:39 PM

Quote from: bitourist on November 04, 2016, 08:52:02 PM

Banks will not disappear I believe, but here in Scandinavia (and probably other places too), banks have been inspired by the way a bitcoin transaction is processed and have launched instapay services and apps that makes bank transfers obsolete. It also omits bank fees on smaller transactions.

A step in the right direction at least! Grin

No way it will happen, banks will always be here as it's supported by the government, they created it for the people to comply with the rules of a certain state and fiat is the only legal tender that is allowed by the government when we transact, our financial standing are measure by our liquidity or the amount of money we are holding.

and thats the complete reason why this statement will happen bank cant be disappear in any how government has been recognize stability in terms of hold fiat without banks it will be harder for that nation to continue its progress.

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Quote from: bitourist on November 04, 2016, 08:52:02 PM

Banks will not disappear I believe, but here in Scandinavia (and probably other places too), banks have been inspired by the way a bitcoin transaction is processed and have launched instapay services and apps that makes bank transfers obsolete. It also omits bank fees on smaller transactions.

A step in the right direction at least! Grin

No way it will happen, banks will always be here as it's supported by the government, they created it for the people to comply with the rules of a certain state and fiat is the only legal tender that is allowed by the government when we transact, our financial standing are measure by our liquidity or the amount of money we are holding.

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Banks will not disappear I believe, but here in Scandinavia (and probably other places too), banks have been inspired by the way a bitcoin transaction is processed and have launched instapay services and apps that makes bank transfers obsolete. It also omits bank fees on smaller transactions.

A step in the right direction at least! Grin

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Quote from: carriebee on November 04, 2016, 05:49:40 AM

I dont think banks will disappear over bitcoin. Banks will change its
service but not to disappear. Bitcoin is not yet well known in my
country. There is a need of proper introducing bitcoin so that all
people here in my country would easily understand its process.
Lastly, banks will not be diasppear in the long run.

Of course it won't because banks are playing an important role for a government and they are one of the industries that are contributing big tax in for a country. It can be possible that the banks are going to make bitcoins disappear as they are covered by the government but bitcoin isn't. And you are right, they can just simply adopt bitcoins services rather than making it disappear.

Yes I am agree with you. bank And goverment are made cooperation in since very very long time ago. they are support each other. country economy is nothing without bank. and bank is nothing without the support of goverment. bitcoin Is good but it is just a currency, it used for buying or selling activity, but Bank is a big corpiration. May be bank will adipt bitcoun as alternatif currency. We have to keep use and support bitcoin.

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Quote from: Capradina on November 04, 2016, 06:37:10 PM

Quote from: brian_23452 on November 04, 2016, 06:32:25 PM

Quote from: wxa7115 on November 04, 2016, 01:23:24 PM

Quote from: Doamader on November 04, 2016, 11:39:27 AM

Quote from: krishna1 on November 04, 2016, 11:20:33 AM

no dought that bitcoin has the potentiality but now i have re thinking my words and i observed that people at this generation cared only the existence and bitcoin is lot more powerful than jist exestence so i now 99% belive that yes it can make banks disapper and yes the news also agreed

Bitcoin has potencial but to remove banks no, banks does have country support and the big population does trust them, and just them, bitcoin can make some companies loose costumers, but it wont make them close the doors, bitcoin must improve a lot before be able to replace anything, we thinked Western Union would close doors, since bitcoin does provide the same service much more cheaper.

Well, even though bitcoin offers the same service there are many things to consider, for example if you want to buy bitcoin most of the time you will need to pay a premium, a little bit more than market value, second in order to recover those bitcoin to fiat you are going to pay another fee, then you need to consider the limitations of the people themselves, they may not have reliable access to the internet and stuff, to me for those reasons it is why western union keeps on business.

WU is more popular only because it exists since long time and not many people are aware about bitcoins yet and once they are aware I am sure they won't use WU for money transfers as they charge heavy fees from its customers but still bitcoin doesn't have that high potential to replace WU or banks.

A very smart thinking. It is indeed something is absolutely true, as more lucrative than bitcoin WU. So, can verify that indeed bitcoin will be more used by all than WU. Because of the speed and accuracy of WU and extremely similar, that bitcoin sets it apart is bitcoin is much cheaper and more fun than WU. So, I am extremely confident it can give you an advantage that it is very good for bitcoin

WU is spread in all over the world and you will find its branches even in a small town as that is the only option for people to send or receive money instantly as remittances through banks are time consuming and generally takes 24 hours so people prefer to use WU.

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Quote from: brian_23452 on November 04, 2016, 06:32:25 PM

Quote from: wxa7115 on November 04, 2016, 01:23:24 PM

Quote from: Doamader on November 04, 2016, 11:39:27 AM

Quote from: krishna1 on November 04, 2016, 11:20:33 AM

no dought that bitcoin has the potentiality but now i have re thinking my words and i observed that people at this generation cared only the existence and bitcoin is lot more powerful than jist exestence so i now 99% belive that yes it can make banks disapper and yes the news also agreed

Bitcoin has potencial but to remove banks no, banks does have country support and the big population does trust them, and just them, bitcoin can make some companies loose costumers, but it wont make them close the doors, bitcoin must improve a lot before be able to replace anything, we thinked Western Union would close doors, since bitcoin does provide the same service much more cheaper.

Well, even though bitcoin offers the same service there are many things to consider, for example if you want to buy bitcoin most of the time you will need to pay a premium, a little bit more than market value, second in order to recover those bitcoin to fiat you are going to pay another fee, then you need to consider the limitations of the people themselves, they may not have reliable access to the internet and stuff, to me for those reasons it is why western union keeps on business.

WU is more popular only because it exists since long time and not many people are aware about bitcoins yet and once they are aware I am sure they won't use WU for money transfers as they charge heavy fees from its customers but still bitcoin doesn't have that high potential to replace WU or banks.

A very smart thinking. It is indeed something is absolutely true, as more lucrative than bitcoin WU. So, can verify that indeed bitcoin will be more used by all than WU. Because of the speed and accuracy of WU and extremely similar, that bitcoin sets it apart is bitcoin is much cheaper and more fun than WU. So, I am extremely confident it can give you an advantage that it is very good for bitcoin

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Quote from: wxa7115 on November 04, 2016, 01:23:24 PM

Quote from: Doamader on November 04, 2016, 11:39:27 AM

Quote from: krishna1 on November 04, 2016, 11:20:33 AM

no dought that bitcoin has the potentiality but now i have re thinking my words and i observed that people at this generation cared only the existence and bitcoin is lot more powerful than jist exestence so i now 99% belive that yes it can make banks disapper and yes the news also agreed

Bitcoin has potencial but to remove banks no, banks does have country support and the big population does trust them, and just them, bitcoin can make some companies loose costumers, but it wont make them close the doors, bitcoin must improve a lot before be able to replace anything, we thinked Western Union would close doors, since bitcoin does provide the same service much more cheaper.

Well, even though bitcoin offers the same service there are many things to consider, for example if you want to buy bitcoin most of the time you will need to pay a premium, a little bit more than market value, second in order to recover those bitcoin to fiat you are going to pay another fee, then you need to consider the limitations of the people themselves, they may not have reliable access to the internet and stuff, to me for those reasons it is why western union keeps on business.

WU is more popular only because it exists since long time and not many people are aware about bitcoins yet and once they are aware I am sure they won't use WU for money transfers as they charge heavy fees from its customers but still bitcoin doesn't have that high potential to replace WU or banks.

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Quote from: Doamader on November 04, 2016, 11:39:27 AM

Quote from: krishna1 on November 04, 2016, 11:20:33 AM

no dought that bitcoin has the potentiality but now i have re thinking my words and i observed that people at this generation cared only the existence and bitcoin is lot more powerful than jist exestence so i now 99% belive that yes it can make banks disapper and yes the news also agreed

Bitcoin has potencial but to remove banks no, banks does have country support and the big population does trust them, and just them, bitcoin can make some companies loose costumers, but it wont make them close the doors, bitcoin must improve a lot before be able to replace anything, we thinked Western Union would close doors, since bitcoin does provide the same service much more cheaper.

Well, even though bitcoin offers the same service there are many things to consider, for example if you want to buy bitcoin most of the time you will need to pay a premium, a little bit more than market value, second in order to recover those bitcoin to fiat you are going to pay another fee, then you need to consider the limitations of the people themselves, they may not have reliable access to the internet and stuff, to me for those reasons it is why western union keeps on business.

Doamader

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Quote from: krishna1 on November 04, 2016, 11:20:33 AM

no dought that bitcoin has the potentiality but now i have re thinking my words and i observed that people at this generation cared only the existence and bitcoin is lot more powerful than jist exestence so i now 99% belive that yes it can make banks disapper and yes the news also agreed

Bitcoin has potencial but to remove banks no, banks does have country support and the big population does trust them, and just them, bitcoin can make some companies loose costumers, but it wont make them close the doors, bitcoin must improve a lot before be able to replace anything, we thinked Western Union would close doors, since bitcoin does provide the same service much more cheaper.

krishna1

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no dought that bitcoin has the potentiality but now i have re thinking my words and i observed that people at this generation cared only the existence and bitcoin is lot more powerful than jist exestence so i now 99% belive that yes it can make banks disapper and yes the news also agreed

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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 am not sure that the bank will really be lost even if the possibility is there but it's difficult because people still need tools to real money

carriebee

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I dont think banks will disappear over bitcoin. Banks will change its
service but not to disappear. Bitcoin is not yet well known in my
country. There is a need of proper introducing bitcoin so that all
people here in my country would easily understand its process.
Lastly, banks will not be diasppear in the long run.

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Quote from: lionheart78 on November 03, 2016, 09:52:31 PM

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Quote from: knyolku123 on November 03, 2016, 04:10:15 PM

i think bicoin can make banks disappear, when all people using bitcoin and take their money from the bank. Its make bank bankrupt. or if was happen maybe bitcoin will disappear because goverment will banning bitcoin if bank bankrupt. its my oppinion.

No it won't even though will completely use bitcoin it won't make banks disappear because banks are important for a society and the government is going to rely or completely force the people to keep on using banks. You know, government can control everything but not bitcoin so still they will not let bitcoin make banks disappear for they are earning great there.

Yes banks is heavily funded and government backed institution, so it is impossible for bitcoin to make bank disappear. Aside from that bank services are well established and people gives high regard to whatever their bank suggested to them because of the trust level that is already established. People that care less to financial system would more likely obey what their bank suggest them to do rather than hearing an anonymous person and be persuaded to accept bitcoin and trash the banking system in their lives.

not impossible it's just will not happened in the near future or soon , i guess this is very possible but the chance itself so low for now , in the next 5 10 20 50 years? i believe bitcoi will change how real money works.

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