Can Bitcoin make Banks disappear? - page 205.

Docnaster

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Quote from: Docnaster on October 08, 2016, 10:21:19 PM

Bank will never be disappeared if they becoming scam lots of people are going to file a case for those owner of a banks, Well from me banks are stsrting adopting bitcoins ad technology base in my country we can deposit our bitcoins into banks.

I do believe it too that bitcoin is not going to make the banks disappear. Because it is one of the most important body of government that regulates the flow of money in a society. Because the government is not able to control bitcoins if the banks are going to be gone because of bitcoins. And no one is able to regulate and control bitcoins because in reality no body of government is able to do that.

It's really impossible that bitcoin can really banks disappear most of all banks are in the long run and it will linked in some of companies world wide although bitcoin is not yet linked and can't be deposited on the banks only in trading sites. If goverment imports bitcoin to there business and it will become legal as physical currency then bitcoin and banks will be partnered soon that bitcoin can be easily deposit to any bank branch world wide.

croutonhexagon

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No bitcoin can't make bank disappear because both are different thing and our old guys will never use bitcoin because they will think bitcoin something else. And due to generation gap they will not accept bitcoin.

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Quote from: drwtsn32 on October 18, 2016, 03:33:53 AM

We don't really need to feel anxious about it because bitcoin and banks will get well together other than make each other collapse. You know. Both of them are important things and do different things.

That's right and we need both of them as we cannot rely only on bitcoin at a moment as we cannot spend bitcoin directly at a moment and to spend them we need to convert it to fiat and for that we need banks.

drwtsn32

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We don't really need to feel anxious about it because bitcoin and banks will get well together other than make each other collapse. You know. Both of them are important things and do different things.

Adamsmit556

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I think that banks have to adapt their type of function and the banks don't just vanish off. It's hard to say what's going to happen and what's the role of cryptocurrencies has in the future. But sure is that financial structure might look like a different thing compared now, if and when bitcoin gets more audience.

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There is a need for more Bitcoin ATMs that allow buying and selling. A lot of people are completely fine with online BTC transactions, but there others that would prefer transacting through an ATM because there is some familiarity with the in-person automated process. Bitcoin ATMs are good for the ecosystem.

Ybalevia

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I dont think that bitcoins can make banks disappear but i know what they can do and that is making allot o money when you use the bitcoin because
lots of people ar emaking money with the bitcoin.

Skaven

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If the bitcoin can grow that big i dont think he will beat the banks but maybe banks will deal with the bitcoin and do the same thing with the dollars and other currencys off course
that is one of the biggest thing for the bitcoin when that happens.

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Quote from: maxg on January 11, 2016, 09:45:41 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?

Banks as WE know it may disappear, but banks generally will not disappear.

Bitcoins can reach allot but do you really think that they can make banks dissapear i think that banks wants to deal witht the bitcoin if he is getting
that big you know.

romero121

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Making banks get disappear is really hard, because most of the people consider banking to be the primary means for financial administration. This needs to change, and for such a change our bitcoin needs to travel long years. Also most users consider bitcoin as a good investment rather than a currency which also needs to change to replace banks.

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Quote from: mirakal on October 18, 2016, 01:36:14 AM

Quote from: Tyrantt on October 18, 2016, 01:31:16 AM

Quote from: carlfebz2 on October 18, 2016, 12:20:37 AM

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Quote from: jaweria khan on October 17, 2016, 09:31:51 AM

to me bitcoin cannot make banks disappear as in present time as majority of the people do not know about bitocin therefore it is not good to say that bitcoin can disappear banks.

It is really impossible if we are going to talk about this because the government is not going to allow this to happen and bitcoin does a very unstable price so they are not going to entrust the banking system in bitcoin and people needs bank even though bitcoin is going to give us good service and convenience upon using it.

Very true, government wont let this thing to happen because fiat is one of the foundations of the economy of a certain country. No matter how bitcoin would be succesful in the future but still it wont have a chance against fiat and banks would still remain.

As long as there is a big majority that uses banks, there will be banks. Bitcoin is too unstable with the price to be making any huge impact, that same unstable price is the main reason of some businesses not to implement it as a payment option.

In short it cannot replace bank as we are just using an alternative currency a not regulated one. Bank is the major entity that creates money and control the total money in the circulation and we are dependent with bank in every transaction we will do.

Yeah dependent and will still go until many more years. I dont think we can change it easily. This story about changing the way banks moves will just make chaos to the financial industry.

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Quote from: Tyrantt on October 18, 2016, 01:31:16 AM

Quote from: carlfebz2 on October 18, 2016, 12:20:37 AM

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Quote from: jaweria khan on October 17, 2016, 09:31:51 AM

to me bitcoin cannot make banks disappear as in present time as majority of the people do not know about bitocin therefore it is not good to say that bitcoin can disappear banks.

It is really impossible if we are going to talk about this because the government is not going to allow this to happen and bitcoin does a very unstable price so they are not going to entrust the banking system in bitcoin and people needs bank even though bitcoin is going to give us good service and convenience upon using it.

Very true, government wont let this thing to happen because fiat is one of the foundations of the economy of a certain country. No matter how bitcoin would be succesful in the future but still it wont have a chance against fiat and banks would still remain.

As long as there is a big majority that uses banks, there will be banks. Bitcoin is too unstable with the price to be making any huge impact, that same unstable price is the main reason of some businesses not to implement it as a payment option.

In short it cannot replace bank as we are just using an alternative currency a not regulated one. Bank is the major entity that creates money and control the total money in the circulation and we are dependent with bank in every transaction we will do.

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Quote from: carlfebz2 on October 18, 2016, 12:20:37 AM

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Quote from: jaweria khan on October 17, 2016, 09:31:51 AM

to me bitcoin cannot make banks disappear as in present time as majority of the people do not know about bitocin therefore it is not good to say that bitcoin can disappear banks.

It is really impossible if we are going to talk about this because the government is not going to allow this to happen and bitcoin does a very unstable price so they are not going to entrust the banking system in bitcoin and people needs bank even though bitcoin is going to give us good service and convenience upon using it.

Very true, government wont let this thing to happen because fiat is one of the foundations of the economy of a certain country. No matter how bitcoin would be succesful in the future but still it wont have a chance against fiat and banks would still remain.

As long as there is a big majority that uses banks, there will be banks. Bitcoin is too unstable with the price to be making any huge impact, that same unstable price is the main reason of some businesses not to implement it as a payment option.

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Quote from: jaweria khan on October 17, 2016, 09:31:51 AM

to me bitcoin cannot make banks disappear as in present time as majority of the people do not know about bitocin therefore it is not good to say that bitcoin can disappear banks.

It is really impossible if we are going to talk about this because the government is not going to allow this to happen and bitcoin does a very unstable price so they are not going to entrust the banking system in bitcoin and people needs bank even though bitcoin is going to give us good service and convenience upon using it.

Very true, government wont let this thing to happen because fiat is one of the foundations of the economy of a certain country. No matter how bitcoin would be succesful in the future but still it wont have a chance against fiat and banks would still remain.

jaweria khan

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to me bitcoin cannot make banks disappear as in present time as majority of the people do not know about bitocin therefore it is not good to say that bitcoin can disappear banks.

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Quote from: jaweria khan on October 17, 2016, 07:13:47 AM

to me it is not possible in near future but after decades when all the people of the world will start using bitcoin then it may be possible.

this time will never come. there is no way that all people in the world will make use of something. that's not even happening with gold and the dollar. so how can you expect that to happen with bitcoin? that doesn't really make sense to me.

Noctis Connor

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Quote from: mastica on October 16, 2016, 07:54:50 AM

Bitcoin provides a service, but cant remove anything, and banks are the most powerful companie that has country support and people, soo be sure this wont happen never.

Yes bitcoin provides a services but banks can do much more good services in people and many of companies and working or partnered with banks and they are supporting each other if banks will died then how much more in companies?

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to me it is not possible in near future but after decades when all the people of the world will start using bitcoin then it may be possible.

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Quote from: croutonhexagon on October 17, 2016, 05:54:52 AM

No bitcoin serves different purpose and bank serves different. We need both the service to live and make our life complete. So bitcoin can't remove bank. But well bank could adopt bitcoin system for automated transaction and faster.

That is correct. They are available for our consumption. We can use either bitcoin or banks in certain circumstances that is favorable to us. Example, if we want to gamble, we can use bitcoin because it is very easy to get in - it takes few minutes to create account on that online casino compared to using fiat money where there are many identification and other requirements.

croutonhexagon

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No bitcoin serves different purpose and bank serves different. We need both the service to live and make our life complete. So bitcoin can't remove bank. But well bank could adopt bitcoin system for automated transaction and faster.

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