Can Bitcoin make Banks disappear? - page 197.

PizzaBTC

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Quote from: onelove2111 on October 29, 2016, 05:29:19 PM

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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.

The banking system is very seriously considering the threat posed by cryptocurrency and therefore most of the countries and their financial institutions are learning to adopt many stages of work with bitcoin and blockchain.

That is true, because if the banks and financial institution fail to adopt bitcoin, there is going to be serious problem with their business as everything may collapse which they will never want to see that happening.

choppork

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Bitcoin isn't the one that will make the banks disappear. It's the people. Once people starting using bitcoins more and more, banks would be left out. Of course there would still be some people using banks but it would come to the point when banks are starting to have financial loss and banks would start closing down one by one. This will not be happening a year from now, it will take a decade or even more to happen. Bitcoin is still in its beginning phase.

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Quote from: JeffBrad12 on October 30, 2016, 05:23:20 AM

Quote from: agamasrori on October 30, 2016, 12:22:16 AM

Quote from: Juggy777 on October 29, 2016, 11:48:43 PM

I don't think banks will vanish. They will open up Bitcoin counter as and when it's legal to do so. Banks will and always stay. Bitcoin will soon be a part of banks maybe 2-5 years down the line.

Yes bank is toward bitcoin. So I think they will cooperated with bitcoin. If bank stay on their system they will unysed by people. They have to keep moving forward. Any conventional must be replaced by the modern one.

it's can't. and never. the basic system of the bitcoin and bank is different and i could for defining that's just a dream totally the bank are wanna for adopting the blockchain system are wanna be the competitors for bitcoin because the bank's possition are get threatened by bitcoin today.

True that it is being threatened but embracing it could make it work. There are just thinks that would be needed to consider, some to be applied for it to work. Imagine being the first bank to work it out. It will be a blast and maybe it will also boom their economy.

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Quote from: agamasrori on October 30, 2016, 12:22:16 AM

Quote from: Juggy777 on October 29, 2016, 11:48:43 PM

I don't think banks will vanish. They will open up Bitcoin counter as and when it's legal to do so. Banks will and always stay. Bitcoin will soon be a part of banks maybe 2-5 years down the line.

Yes bank is toward bitcoin. So I think they will cooperated with bitcoin. If bank stay on their system they will unysed by people. They have to keep moving forward. Any conventional must be replaced by the modern one.

it's can't. and never. the basic system of the bitcoin and bank is different and i could for defining that's just a dream totally the bank are wanna for adopting the blockchain system are wanna be the competitors for bitcoin because the bank's possition are get threatened by bitcoin today.

1Referee

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Quote from: agamasrori on October 30, 2016, 12:22:16 AM

Quote from: Juggy777 on October 29, 2016, 11:48:43 PM

I don't think banks will vanish. They will open up Bitcoin counter as and when it's legal to do so. Banks will and always stay. Bitcoin will soon be a part of banks maybe 2-5 years down the line.

Yes bank is toward bitcoin. So I think they will cooperated with bitcoin. If bank stay on their system they will unysed by people. They have to keep moving forward. Any conventional must be replaced by the modern one.

That's just nonsense. Banks right now have no interest in the coin aspect of this piece of technology, and will never have. The only thing they are interested in is the blockchain technology that they will set up in their own private form. It's not that they will make use of Bitcoin's blockchain. Also that is something that will never happen.

Banks thrive on the control that they have over every aspect of their business, way of storing people's money, way of handling transactions for its customers, etc. In every part the customers don't have any control, and that's exactly the thing banks want to stay the same.

Bitcoin gives people financial freedom, do you really think a centralized entity will hand you over that kind of freedom by incorporating something that is basically poison to their entire business structure? Think good about it. You'll then realize what I am trying to say.

victoryboy

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I have to say no Bitcoin can not make the banks disappear never. There is a logical explanation behind this because banks are not like super markets or shops which appears and disappears or replaced by other. Actually they are providing base to all the financial structure of complex system from issues of salaries to utility bills, from loan to investment and much more than this. They both will exist and work together in future with more collaboration.

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Quote from: Multipulty on October 30, 2016, 02:40:37 AM

Quote from: mirakal on October 29, 2016, 11:57:47 PM

Quote from: Babayega31 on October 29, 2016, 10:45:14 PM

Quote from: onelove2111 on October 29, 2016, 05:29:19 PM

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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.

The banking system is very seriously considering the threat posed by cryptocurrency and therefore most of the countries and their financial institutions are learning to adopt many stages of work with bitcoin and blockchain.

I don't think so that banks will disappear, because many big businessmen invest their money with them, although bitcoins plays a big part of online aspects like trading it doesn't mean it will take advantage compare to banks. Many people starts to learn bitcoin using particularly online transaction but online banking are now competing in modern lifestyle, so in conclusion bank and bitcoin ahs its own capability to show both of them were on track of economy.

Banks makes the money and the money that we use in buying bitcoin is created by banks so it's like saying that you will replace or you can make your creator disappear, we need to know where to stand as we are just a small community and though we are progressive but the number of users we have are just limited.

That's correct the users of bitcoins are limited at a moment and even in future we cannot expect that everyone will start using bitcoins, the traditional thinkers will always prefer to use banks and I don't see bitcoin getting on the mainstream in future so its hard to believe that it can make banks disappear in future.

Users can increase but only up to the amount of coins themselves, and they really limited quantities. But it says nothing about what will or will sustain bitcoin bank standoff. Of course it all depends on the application and how bitcoin users make it more favorable to use. That would be the deciding factor.

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Quote from: Juggy777 on October 29, 2016, 11:48:43 PM

I don't think banks will vanish. They will open up Bitcoin counter as and when it's legal to do so. Banks will and always stay. Bitcoin will soon be a part of banks maybe 2-5 years down the line.

Quote from: hurain on October 08, 2016, 04:43:58 PM

that is just a non sense statement, i think God do not need bitcoin and we should obey the order of God if we want to please Him.

In some communities it preserved the old custom, which requires each member of the community to give a tenth of their profits for the benefit of the community. I do not know how you ever lived pastors, but now they live like the oligarchs. And it's all for these contributions.

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Quote from: mirakal on October 29, 2016, 11:57:47 PM

Quote from: Babayega31 on October 29, 2016, 10:45:14 PM

Quote from: onelove2111 on October 29, 2016, 05:29:19 PM

Quote from: ?? on ??

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.

The banking system is very seriously considering the threat posed by cryptocurrency and therefore most of the countries and their financial institutions are learning to adopt many stages of work with bitcoin and blockchain.

I don't think so that banks will disappear, because many big businessmen invest their money with them, although bitcoins plays a big part of online aspects like trading it doesn't mean it will take advantage compare to banks. Many people starts to learn bitcoin using particularly online transaction but online banking are now competing in modern lifestyle, so in conclusion bank and bitcoin ahs its own capability to show both of them were on track of economy.

Banks makes the money and the money that we use in buying bitcoin is created by banks so it's like saying that you will replace or you can make your creator disappear, we need to know where to stand as we are just a small community and though we are progressive but the number of users we have are just limited.

That's correct the users of bitcoins are limited at a moment and even in future we cannot expect that everyone will start using bitcoins, the traditional thinkers will always prefer to use banks and I don't see bitcoin getting on the mainstream in future so its hard to believe that it can make banks disappear in future.

salemon

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Despite the world economic crisis of the banking system is sufficiently robust and strong, even if some banks burst. Therefore, to break their bitcoin will not be easy, and even seems to me impossible. But it all depends on the demand and popularity cryptocurrency.

Juggy777

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Quote from: agamasrori on October 30, 2016, 12:22:16 AM

Quote from: Juggy777 on October 29, 2016, 11:48:43 PM

I don't think banks will vanish. They will open up Bitcoin counter as and when it's legal to do so. Banks will and always stay. Bitcoin will soon be a part of banks maybe 2-5 years down the line.

Yes bank is toward bitcoin. So I think they will cooperated with bitcoin. If bank stay on their system they will unysed by people. They have to keep moving forward. Any conventional must be replaced by the modern one.
[/quote
Yes sir. Only a matter of time before banks do it. It will be a revolution and which ever bank does it, it shall create history. Can't wait for the banks to do it. Sooner or later let's hope for the best.

agamasrori

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Quote from: Juggy777 on October 29, 2016, 11:48:43 PM

I don't think banks will vanish. They will open up Bitcoin counter as and when it's legal to do so. Banks will and always stay. Bitcoin will soon be a part of banks maybe 2-5 years down the line.

Yes bank is toward bitcoin. So I think they will cooperated with bitcoin. If bank stay on their system they will unysed by people. They have to keep moving forward. Any conventional must be replaced by the modern one.

mirakal

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Quote from: Babayega31 on October 29, 2016, 10:45:14 PM

Quote from: onelove2111 on October 29, 2016, 05:29:19 PM

Quote from: ?? on ??

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.

The banking system is very seriously considering the threat posed by cryptocurrency and therefore most of the countries and their financial institutions are learning to adopt many stages of work with bitcoin and blockchain.

I don't think so that banks will disappear, because many big businessmen invest their money with them, although bitcoins plays a big part of online aspects like trading it doesn't mean it will take advantage compare to banks. Many people starts to learn bitcoin using particularly online transaction but online banking are now competing in modern lifestyle, so in conclusion bank and bitcoin ahs its own capability to show both of them were on track of economy.

Banks makes the money and the money that we use in buying bitcoin is created by banks so it's like saying that you will replace or you can make your creator disappear, we need to know where to stand as we are just a small community and though we are progressive but the number of users we have are just limited.

Juggy777

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I don't think banks will vanish. They will open up Bitcoin counter as and when it's legal to do so. Banks will and always stay. Bitcoin will soon be a part of banks maybe 2-5 years down the line.

Babayega31

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Quote from: onelove2111 on October 29, 2016, 05:29:19 PM

Quote from: ?? on ??

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.

The banking system is very seriously considering the threat posed by cryptocurrency and therefore most of the countries and their financial institutions are learning to adopt many stages of work with bitcoin and blockchain.

I don't think so that banks will disappear, because many big businessmen invest their money with them, although bitcoins plays a big part of online aspects like trading it doesn't mean it will take advantage compare to banks. Many people starts to learn bitcoin using particularly online transaction but online banking are now competing in modern lifestyle, so in conclusion bank and bitcoin ahs its own capability to show both of them were on track of economy.

onelove2111

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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.

The banking system is very seriously considering the threat posed by cryptocurrency and therefore most of the countries and their financial institutions are learning to adopt many stages of work with bitcoin and blockchain.

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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.

I agree, bank owners are very clever, they can manage to adopt bitcoin or adapt in the situation. Beside, bank is not only use for currency but as safety deposits of things that has high value. You can even keep your bitcoin priv. key details on a bank. Bank have lots of usage or function and not only for keeping currency.

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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.

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Quote from: arransiv on October 29, 2016, 12:34:21 AM

Quote from: genos on October 28, 2016, 10:51:11 PM

Quote from: Victorycoin on October 28, 2016, 03:52:13 PM

Quote from: 2double0 on October 27, 2016, 10:24:32 AM

Banks have been there since ages and they have their own degree of limitations and Bitcoins have its own.
So whatever happens, banks won't disappear at any cost because we will still need them.

Yes banks are not going anywhere, but they certainly will be operating from another point of view and this time, from mostly the point of view of peer 2 peer payment settlement. Those banks with mundane ideas set in stone, would have either to update and innovate or simply go under. Bitcoin indeed is an eye opener!

Probably the frecuency of people who use bank will decreased and replaced by bitcoin wallet. But I think bank will still running good becouse bank are supported by goverment. May b bank will create their own altcoin/digital currency. Becouse bank system now is realy conventional and bitcoin blockchain system is modern.

A lot of banks are learning more about the blockchain, the big difference in the future will be just one: they will fire a lot of employes and will be everything more easily.

At least they are moving on too...

Nah, even if those banks would be already awared on blockchain but still they could not able to perfect the concept of bitcoin in terms of its accesibility and features and for sure government would not intent to do such thing to build blockchain based into bitcoin. Its just a nonsense thing after all. Bitcoin cant make banks disappear no matter what.

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Quote from: genos on October 28, 2016, 10:51:11 PM

Quote from: Victorycoin on October 28, 2016, 03:52:13 PM

Quote from: 2double0 on October 27, 2016, 10:24:32 AM

Banks have been there since ages and they have their own degree of limitations and Bitcoins have its own.
So whatever happens, banks won't disappear at any cost because we will still need them.

Yes banks are not going anywhere, but they certainly will be operating from another point of view and this time, from mostly the point of view of peer 2 peer payment settlement. Those banks with mundane ideas set in stone, would have either to update and innovate or simply go under. Bitcoin indeed is an eye opener!

Probably the frecuency of people who use bank will decreased and replaced by bitcoin wallet. But I think bank will still running good becouse bank are supported by goverment. May b bank will create their own altcoin/digital currency. Becouse bank system now is realy conventional and bitcoin blockchain system is modern.

A lot of banks are learning more about the blockchain, the big difference in the future will be just one: they will fire a lot of employes and will be everything more easily.

At least they are moving on too...

Topic: Can Bitcoin make Banks disappear? - page 197. (Read 427614 times)