Topic: Can Bitcoin make Banks disappear? - page 206. (Read 427614 times)
Bank will never disappear because of the currency, because bank will adopt all currency in their system they will take the opportunity of higher value of one currency they can make more profit on that.
no bitcoin can't make banks disappear because we need many offline works and for that we need established institutions to control the flow of money within the country and among international countries.
You are correct. Bitcoin is just an alternative. In my case, I have paypal for my salary and withdraw that paypal money to my bank and use it to pay bills and buy basic needs using fiat money. I also have bitcoin wallets that I use for my online transactions - gambling, crypto trading, and investing. Hence, we can use both bitcoin and banks altogether without even necessary to eradicate the other.
no bitcoin can't make banks disappear because we need many offline works and for that we need established institutions to control the flow of money within the country and among international countries.
No I don't think that bitcoin will make banks to disappear because banks provide security according to currency however bitcoin can't do this as it has no static price like currencies have to spend locally.
Bitcoin is not designed to eradicate banks, it was designed to give people alternative ways to transact money online - this way, with bitcoin crypto money and not the fiat one. Of course, in order for it to gain attention by people, it created added features that is really revolutionary in nature, it introduces privacy in financial transactions without giving identifications.
No I don't think that bitcoin will make banks to disappear because banks provide security according to currency however bitcoin can't do this as it has no static price like currencies have to spend locally.
The banking system is too stable that bitcoin take its place. I was thinking about the contrary, that bitcoin wouldn't survive.
Bitcoin will survive. Mainly because of the fact that there is a need for something like Bitcoin. It's a multi purpose tool that people love. It's a currency too, investment tool, store of value too, it allows you to avoid dealing with banks and governments, etc. Only benefits.
There is no doubt that bitcoin offers us multiple benefits and we are making best use of it but there are many people who are not aware about it and are comfortable in using traditional banking system.
It's not a problem that people continue with using their banks since I do the same as it's not all that bad, but I am quite sure that the further we are with Bitcoin, that more and more people will appreciate Bitcoin for the features that it offers. People not yet knowing about Bitcoin only shows that we can gain plenty of ground in the world.
Bitcoins can never make banks disappear as banks are the strongest financial institution that we have which are running since long time and also have support from the Government, comparatively bitcoin lacks recognition at a moment.
The bad thing about this is that even if bitcoin can go to the top, the government won't allow it because it is decentralized and you know, government always wants to control everything.
The banking system is too stable that bitcoin take its place. I was thinking about the contrary, that bitcoin wouldn't survive.
Bitcoin will survive. Mainly because of the fact that there is a need for something like Bitcoin. It's a multi purpose tool that people love. It's a currency too, investment tool, store of value too, it allows you to avoid dealing with banks and governments, etc. Only benefits.
There is no doubt that bitcoin offers us multiple benefits and we are making best use of it but there are many people who are not aware about it and are comfortable in using traditional banking system.
The banking system is too stable that bitcoin take its place. I was thinking about the contrary, that bitcoin wouldn't survive.
Bitcoin will survive. Mainly because of the fact that there is a need for something like Bitcoin. It's a multi purpose tool that people love. It's a currency too, investment tool, store of value too, it allows you to avoid dealing with banks and governments, etc. Only benefits.
There is no doubt that bitcoin offers us multiple benefits and we are making best use of it but there are many people who are not aware about it and are comfortable in using traditional banking system.
The banking system is too stable that bitcoin take its place. I was thinking about the contrary, that bitcoin wouldn't survive.
Bitcoin will survive. Mainly because of the fact that there is a need for something like Bitcoin. It's a multi purpose tool that people love. It's a currency too, investment tool, store of value too, it allows you to avoid dealing with banks and governments, etc. Only benefits.
Nah that is not true I think bitcoin will just be difficult to replace it to fiat money. If ever bitcoin will replace the fiat money I think the bank will go to the bitcoin world and I well bet that they will offer a lot of things. Like maybe more ATM for bitcoin or other stuff.
Do you really think that the bitcoin can make banks disappear i dont think that would happen because lots of people dont know waht to do with thebitcoin and banks does not want to deal with it.,
The banking system is too stable that bitcoin take its place. I was thinking about the contrary, that bitcoin wouldn't survive.
Bitcoin will survive. Mainly because of the fact that there is a need for something like Bitcoin. It's a multi purpose tool that people love. It's a currency too, investment tool, store of value too, it allows you to avoid dealing with banks and governments, etc. Only benefits.
Bitcoin could take over banks imo but the chance that it will happen is really small and that is that many people are still dont even know how Bitcoin works so that is the problem. If it will make it disappear than Bitcoin have to be really popular so there will be also more people that have to promote it so more people can get to know about it.
Even if bitcoin becomes more popular in future we cannot expect that everyone will start using it, there will be certain percentage of people who will prefer to use only banks as they are used to it since long time.
The banking system is too stable that bitcoin take its place. I was thinking about the contrary, that bitcoin wouldn't survive.
Bitcoin is known to add value & functionality to service providers that attaching to their platform. I don't believe banks would crumble, but I think would actually grow as more debit card providers come in.
In all honesty you must use a bank to purchase coins directly, and some countries are forced to buy them via banking.
Well, if banks really in interested with attaching bitcoin in their system then they would have done it already, bitcoin now is very progressive so they would be interested so they can also get more clients but that did not happen, and that is due to one simple reason, "COMPLIANCE".In all honesty you must use a bank to purchase coins directly, and some countries are forced to buy them via banking.
The word compliance is required for the bank to follow the guidelines set by the central bank in an area, banks are centralized while bitcoin is decentralized, for sure that two cannot be consolidated.
Bitcoin is known to add value & functionality to service providers that attaching to their platform. I don't believe banks would crumble, but I think would actually grow as more debit card providers come in.
In all honesty you must use a bank to purchase coins directly, and some countries are forced to buy them via banking.
In all honesty you must use a bank to purchase coins directly, and some countries are forced to buy them via banking.
Bitcoins can never make banks disappear as banks are the strongest financial institution that we have which are running since long time and also have support from the Government, comparatively bitcoin lacks recognition at a moment.
bitcoin is just a tiny drop compared to an ocean that banks and governments are. also, the only entity with the ability to replace the current banks and financial system, is the government. bitcoin can't do anything about it. even not with a lot support from people world wide.
Yeah and the fact is people will have their more support towards banks in compare to bitcoins as they feel that bank is the safest place to save their money and they will never have same trust level for bitcoins.
Yeah we cannot afford to put our all money in bitcoin as it would be risky move to make as the future of bitcoin is unpredictable and it may disappear in future but we are sure that banks will survive forever.
Bitcoin could take over banks imo but the chance that it will happen is really small and that is that many people are still dont even know how Bitcoin works so that is the problem. If it will make it disappear than Bitcoin have to be really popular so there will be also more people that have to promote it so more people can get to know about it.
The banking system of the world economy is much stronger than we think. Bitcoin in many countries acts illegally and anonymously. Therefore, you must first become a legal and accepted currency.
Banks have existed long before the advent of the Internet and all that is technological progress. People who have learned the craft never give at the mercy of their system. It is a system which is a vocation from nothing to make big money. 
The banking system of the world economy is much stronger than we think. Bitcoin in many countries acts illegally and anonymously. Therefore, you must first become a legal and accepted currency.
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