Can Bitcoin make Banks disappear? - page 194.

lionheart78

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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.

groll

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Quote from: Hatuferu on November 02, 2016, 12:47:57 AM

Quote from: markyminer on November 02, 2016, 12:42:09 AM

Quote from: genos on November 01, 2016, 09:49:45 PM

Quote from: IsaacBitcoiner on November 01, 2016, 12:45:16 PM

I think not, at least not very soon. People need paper money to buy stuff and pay daily expenses. Things may change in the future, of course, but right now people still rely on the banking system.

Yes you are right people still need bank to save their money. Fiat is realy needed in this day becouse the most people in the world are using fiat as a currency although the value of the fiat us decreased every years. So I think bitcoin will not make bank dissapear.

yes very honestly, bitcoin is still not so much popular, and still majority of the people are using fiat currency, therefore the importance of banks cannot be ignore, and i think a time will come when banks will start accepting bitcoin and will create online wallets for them, so i think banks and bitcoin will work with each other in cooperation.

Banks are government regulated business while bitcoin is not regulated by the government, so tell me how would it make a big organization disappear. Bitcoin is popular to us in the crypto word because we are getting a lot of benefits here like we can make money and can gamble at the same time. However, in the real world you cannot spend your bitcoins to buy for your daily needs and you need bank to convert your bitcoins into fiat.

Yes, it's true that in the real arena, most people rely on banks because fiat is the major currency being used by the majority. And it's a reason for a low possibility of making banks disappear. Maybe in time, bitcoins will grow bigger and could be one of the major currencies being used by people. But for now, banks cannot be dissolved since every state needs it.

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Quote from: tempo7 on November 02, 2016, 02:14:38 AM

I often talk in a positive way of bitcoin's future but something like that is impossible i think. If you say that the bank's can use bitcoin, i said yes in the future for my thought but bitcoin can not disappear banks with it's own.

Banks as we know them may disappear, look what happen to investment banks, but banks are going to evolve they are not going to forfeit one of the most lucrative business without a fight.

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Quote from: brian_23452 on November 03, 2016, 03:32:03 PM

Quote from: ekoice on November 03, 2016, 02:51:25 PM

Bitcoin cant make banks disappear.There are lots of people who dont even know how to use computers.Bitcoin will be a secondary option in payment.Bitcoin would definitely decrease the number of people using banks for transactions. But banks are universally known to all.Banks will last at least for lending loans to customers.

Yeah there is no doubt that more people will start using bitcoins in future once they are aware about it but that doesn't indicates that everyone will start using bitcoins and leave banks behind as people have more faith in the banks as they are using their services since long time and they will continue to use it in future too.

Basically noone knows what will happened in the future of world economy and money banking system
It could be bitcoin takeover world economy system and banking system dissapear
And it could be bitcoin itself get dissapeared not even to survive in longer time who knows?

knyolku123

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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.

brian_23452

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Quote from: ekoice on November 03, 2016, 02:51:25 PM

Bitcoin cant make banks disappear.There are lots of people who dont even know how to use computers.Bitcoin will be a secondary option in payment.Bitcoin would definitely decrease the number of people using banks for transactions. But banks are universally known to all.Banks will last at least for lending loans to customers.

Yeah there is no doubt that more people will start using bitcoins in future once they are aware about it but that doesn't indicates that everyone will start using bitcoins and leave banks behind as people have more faith in the banks as they are using their services since long time and they will continue to use it in future too.

ekoice

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Bitcoin cant make banks disappear.There are lots of people who dont even know how to use computers.Bitcoin will be a secondary option in payment.Bitcoin would definitely decrease the number of people using banks for transactions. But banks are universally known to all.Banks will last at least for lending loans to customers.

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Unfortunately banks will not disappear, not in our lifetime. The world is just to much depending on them. Bitcoin and other cryptocurrencies are not so spread throughout the world, in some are even illegal, and for its features can't replace the fiat money.
Governments and structures need banks and they will do everything to keep them alive.

TechnologyExplorer

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In my view, Bitcoins usage is still in nascent stage. And moreover, only few countries recognize this digital currency as legal. So, BTC doesn't have the potential to make banks disappear at least for next 5-10 years.

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Quote from: tempo7 on November 02, 2016, 02:14:38 AM

I often talk in a positive way of bitcoin's future but something like that is impossible i think. If you say that the bank's can use bitcoin, i said yes in the future for my thought but bitcoin can not disappear banks with it's own.

Banks have no reason to use Bitcoin, so it will not happen. Their only interest is the blockchain technology that they value highly. Governments are the only entity with the ability to replace banks if they so wish. But that won't happen either. Banks fit perfectly in the system that is set up by the governments. Just forget about it people...

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Quote from: serjent05 on November 03, 2016, 10:48:22 AM

Quote from: Owl_Fintech on November 03, 2016, 10:10:49 AM

I think not, but bitcoin is able to help people decreasing the dependence of banks. In fact, it's something that is already happening.

It is already happening ever since people decided not to trust bank even without bitcoin. I don't think that bitcoin will make people not to use a bank for the real thing that happens is, when a bitcoin holder cash out, he tends to put his profit in a bank. This is what most of us will do if we are lucky enough to book a profit or earn 1m USD in form of bitcoin. Cash out and put it in a bank.

Dont be soo blind, there is a small group of us that stopped use banks, some bitcoiners doesnt havent bank account at all, anyway as you stated we would cashout and put the money into the bank, this means in the end we do trust banks and their services, otherwise you would keep your bitcoins into your wallet.

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Quote from: Owl_Fintech on November 03, 2016, 10:10:49 AM

I think not, but bitcoin is able to help people decreasing the dependence of banks. In fact, it's something that is already happening.

It is already happening ever since people decided not to trust bank even without bitcoin. I don't think that bitcoin will make people not to use a bank for the real thing that happens is, when a bitcoin holder cash out, he tends to put his profit in a bank. This is what most of us will do if we are lucky enough to book a profit or earn 1m USD in form of bitcoin. Cash out and put it in a bank.

Owl_Fintech

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I think not, but bitcoin is able to help people decreasing the dependence of banks. In fact, it's something that is already happening.

Douglazzz

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Im bothering why my bitcoin bank account disappeared ? i thought the admin get my account and use it.

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Quote from: severaldetails on October 29, 2016, 08:43:29 AM

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Quote from: JasonXG on October 28, 2016, 02:20:28 PM

I think one day in the future anything can be possible and certainly it is possible that bitcoin and blockchain technology can take over banking one day wince its simply better but the thing is the banks will fight as hard and as dirty as they can torevent that from happening and keep their precious profits.

I don't think so that anything will be possible in future. Because there much be some sort of exclusion of the technology. Even though this is going to give convenience to the people as with bitcoin they don't have to go to banks. But bank is one of the needed body agency or establishment by a country to manage the wealth of the people.

I am relatively sure that bitcoin will never be able to replace banks.
First of all bitcoin has too many weak spots. The blocksize problem, limited supply, low adaption, just to mention a few.
Then banks not only offer money transfer, they offer service. And that is something a lot of people need because they are overwhelmed just by managing an account.

It won't be bitcoin per say that stands a chance to reshape the banks, but the peer to peer technology that is behind bitcoin is going to throw in lots of changes in the way banks are presently operating. Already a number of banks are looking into how to adopt the technology and come up with their own version of bitcoin, but at any rate, it would still be an off shoot of bitcoin.

tempo7

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I often talk in a positive way of bitcoin's future but something like that is impossible i think. If you say that the bank's can use bitcoin, i said yes in the future for my thought but bitcoin can not disappear banks with it's own.

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Quote from: Hatuferu on November 02, 2016, 12:47:57 AM

Quote from: markyminer on November 02, 2016, 12:42:09 AM

Quote from: genos on November 01, 2016, 09:49:45 PM

Quote from: IsaacBitcoiner on November 01, 2016, 12:45:16 PM

I think not, at least not very soon. People need paper money to buy stuff and pay daily expenses. Things may change in the future, of course, but right now people still rely on the banking system.

Yes you are right people still need bank to save their money. Fiat is realy needed in this day becouse the most people in the world are using fiat as a currency although the value of the fiat us decreased every years. So I think bitcoin will not make bank dissapear.

yes very honestly, bitcoin is still not so much popular, and still majority of the people are using fiat currency, therefore the importance of banks cannot be ignore, and i think a time will come when banks will start accepting bitcoin and will create online wallets for them, so i think banks and bitcoin will work with each other in cooperation.

Banks are government regulated business while bitcoin is not regulated by the government, so tell me how would it make a big organization disappear. Bitcoin is popular to us in the crypto word because we are getting a lot of benefits here like we can make money and can gamble at the same time. However, in the real world you cannot spend your bitcoins to buy for your daily needs and you need bank to convert your bitcoins into fiat.

At this stage we cannot spend our bitcoins directly to buy anything and to buy something we need to convert our bitcoins to fiat and we need banks for that, and even in future if bitcoin becomes more popular I don't think banks will disappear as we cannot expect that everyone will start using bitcoins.

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Quote from: Hatuferu on November 02, 2016, 12:47:57 AM

Quote from: markyminer on November 02, 2016, 12:42:09 AM

Quote from: genos on November 01, 2016, 09:49:45 PM

Quote from: IsaacBitcoiner on November 01, 2016, 12:45:16 PM

I think not, at least not very soon. People need paper money to buy stuff and pay daily expenses. Things may change in the future, of course, but right now people still rely on the banking system.

Yes you are right people still need bank to save their money. Fiat is realy needed in this day becouse the most people in the world are using fiat as a currency although the value of the fiat us decreased every years. So I think bitcoin will not make bank dissapear.

yes very honestly, bitcoin is still not so much popular, and still majority of the people are using fiat currency, therefore the importance of banks cannot be ignore, and i think a time will come when banks will start accepting bitcoin and will create online wallets for them, so i think banks and bitcoin will work with each other in cooperation.

Banks are government regulated business while bitcoin is not regulated by the government, so tell me how would it make a big organization disappear. Bitcoin is popular to us in the crypto word because we are getting a lot of benefits here like we can make money and can gamble at the same time. However, in the real world you cannot spend your bitcoins to buy for your daily needs and you need bank to convert your bitcoins into fiat.

I am agree with this bitcoin is more popular to us, more people earn a lot of money in bitcoin and this would be used in online transactions and do trading to increase our profit. We can not spend bitcoin directly because there is no physical money yet of bitcoin.

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Quote from: markyminer on November 02, 2016, 12:42:09 AM

Quote from: genos on November 01, 2016, 09:49:45 PM

Quote from: IsaacBitcoiner on November 01, 2016, 12:45:16 PM

I think not, at least not very soon. People need paper money to buy stuff and pay daily expenses. Things may change in the future, of course, but right now people still rely on the banking system.

Yes you are right people still need bank to save their money. Fiat is realy needed in this day becouse the most people in the world are using fiat as a currency although the value of the fiat us decreased every years. So I think bitcoin will not make bank dissapear.

yes very honestly, bitcoin is still not so much popular, and still majority of the people are using fiat currency, therefore the importance of banks cannot be ignore, and i think a time will come when banks will start accepting bitcoin and will create online wallets for them, so i think banks and bitcoin will work with each other in cooperation.

Banks are government regulated business while bitcoin is not regulated by the government, so tell me how would it make a big organization disappear. Bitcoin is popular to us in the crypto word because we are getting a lot of benefits here like we can make money and can gamble at the same time. However, in the real world you cannot spend your bitcoins to buy for your daily needs and you need bank to convert your bitcoins into fiat.

markyminer

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Quote from: genos on November 01, 2016, 09:49:45 PM

Quote from: IsaacBitcoiner on November 01, 2016, 12:45:16 PM

I think not, at least not very soon. People need paper money to buy stuff and pay daily expenses. Things may change in the future, of course, but right now people still rely on the banking system.

Yes you are right people still need bank to save their money. Fiat is realy needed in this day becouse the most people in the world are using fiat as a currency although the value of the fiat us decreased every years. So I think bitcoin will not make bank dissapear.

yes very honestly, bitcoin is still not so much popular, and still majority of the people are using fiat currency, therefore the importance of banks cannot be ignore, and i think a time will come when banks will start accepting bitcoin and will create online wallets for them, so i think banks and bitcoin will work with each other in cooperation.

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