Can Bitcoin make Banks disappear? - page 207.

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Quote from: JumperX on October 16, 2016, 08:48:26 AM

Quote from: randy8777 on October 16, 2016, 08:40:50 AM

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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.

Even me who are here in the crypt world for so long have always trusted banks for my savings, I cannot compromise my future but putting all my money in bitcoin and I believe as well that bitcoin cannot compete with banks so there is no chance it can make banks disappear.

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Quote from: randy8777 on October 16, 2016, 08:40:50 AM

Quote from: ?? on ??

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.

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Quote from: ?? on ??

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.

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Quote from: greatr on October 04, 2016, 06:35:38 PM

Quote from: Conus on October 04, 2016, 12:59:12 PM

That is not going to happen in our life times!! There are to many older people who do not trust much, let alone something they can not see such as Bitcoin. There are also to many money hungry people out there who are not willing to let the money from bank fees go away.

to be honest anything is possible in my opinion and bitcoin can makes banks disappear in the future

That's true in this earth there's anything is possible and bitcoin can't really banks disappear but they can be partnered in business if they want too that bitcoin can be deposted into banks as investment just saying if this happen in the future then much more better IMo.

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Quote from: molsewid on October 16, 2016, 08:13:11 AM

Nope but there are going to be fair to each other people going to use this two in the future and i think and i do believe that in the year of 2020 bitcoin will be accepted in bank depositing bitcoin into banks and they are going to be partnered.

I am agree with you, but this way is only apply in these countries who are already accept the bitcoin in official level. But i am certain with you that bitcoin can't disappear the bank, in future both will be a partner and bank accept the bitcoin and bitcoin accept the bank.

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Quote from: molsewid on October 16, 2016, 08:13:11 AM

Nope but there are going to be fair to each other people going to use this two in the future and i think and i do believe that in the year of 2020 bitcoin will be accepted in bank depositing bitcoin into banks and they are going to be partnered.

I hope so too . The both system will unite and create an economic power increasingly easy to use. if this is true then the development of the financial system in the world is getting better.

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Quote from: molsewid on October 16, 2016, 08:13:11 AM

Nope but there are going to be fair to each other people going to use this two in the future and i think and i do believe that in the year of 2020 bitcoin will be accepted in bank depositing bitcoin into banks and they are going to be partnered.

There is a big hindrance for that to happen, literally saying that bank will be partnered with bitcoin is hard to realize, bitcoin is anonymous while banks promote transparency, that fact alone can be a negative factor of letting your prediction to happen.

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Nope but there are going to be fair to each other people going to use this two in the future and i think and i do believe that in the year of 2020 bitcoin will be accepted in bank depositing bitcoin into banks and they are going to be partnered.

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Neither Bitcoin nor Banks can make any of them disappear anymore. In last couple of years Banks tried to get rid of Bitcoin but didn't succeed and then they decided to embrace blockchain technology and are working on it. Bitcoin and Banks will work together hands into hands. Bitcoin is not designed to be able to make the banks disappear.

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I do not think Bitcoin will make disappear Bank
because the bank has a different purpose and function, investment, payroll in large companies.after few decades maybe, but definitely not in the near future, banks are really strong right now and a lot of people have their money there so i dont think that the bitcoin is strong enough to do that.

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It could be merging that could happen. With banks help and some introduction to people who are already their customers it will grow bigger. Then can make bitcoin as a suggestion for those who want to transact online specially now that online shops are really growing.

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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.

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We should not take everything as competitor to other things. Bitcoin has solved lot of issues which customers of traditional financial institutions like banks were facing. It is good thing as Bitcoin just reduced the burden and isn't posing direct threat to current banking system. They will come more closer in future and will work in coexistence to serve the people better.

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Quote from: RealBitcoin on October 15, 2016, 11:14:14 AM

NO.

Normally it would if everyone would take charge of their money.

But since 99% of the population is sheep or dumb, they cant store their money safely (just look at the number of people who get hacked or lose their passwords).

So banks wont dissapear for at least another 500 years.

Exactly, not everyone in the world are technical enough to understand and use the technology called bitcoin, but almost the biggest part of the world are far away from technology and that population would probably not let the banks replaced by something totally based on technology.

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Quote from: btcdevil on October 15, 2016, 02:42:47 AM

I dont see that Bank will disappear as Bank is the main need of all business until all country dont adopt bitcoin as their currency but still i dont think bitcoin will become main currency. ya but bitcoin can become investment option like gold , silver etc., but coming to main stream is very hard.

Yes bank is all business needs to save the income or daily income to there store or anything bitcoin is just a source of income from internet it is a currencies that we can trade into another currencies and i don't that bitcoin will disappear the main saving money on earh.

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Quote from: kidoseagle0312 on October 16, 2016, 07:08:57 AM

Bitcoin does not any intention to make banks disappear that's I thought. actually bitcoin can be a good tandem in the bank or in any banks, if they will only see the edge of bitcoin.

I could not agree more. Bitcoin was created as an alternative for consumers in their transactions online. As we all know, there are quite some requirements and the fee is somehow high when we transact online with fiat money. However, you can conveniently do it with bitcoin at a very cheap fees and at the same type you have that feeling of privacy in your financial affairs.

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Bitcoin does not any intention to make banks disappear that's I thought. actually bitcoin can be a good tandem in the bank or in any banks, if they will only see the edge of bitcoin.

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Quote from: ImnotOctopus on October 15, 2016, 12:57:23 AM

Bitcoin is online currency and bank is money storage offline. I mean it is different, bitcoin won't disappear the bank. Bank will just adopt bitcoin in the future whether they like it or not.

First of all most banks are able to process online transactions, so they are not offline, second banks only store about 10% of your deposit this is called fractional reserve banking so they don’t have all your money stored somewhere safe they are using it.

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NO.

Normally it would if everyone would take charge of their money.

But since 99% of the population is sheep or dumb, they cant store their money safely (just look at the number of people who get hacked or lose their passwords).

So banks wont dissapear for at least another 500 years.

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Quote from: eddyubachs on October 15, 2016, 10:50:38 AM

Quote from: chen miao on October 15, 2016, 10:47:17 AM

When you exchange bitcoin to fiat money most of the time it goes through banks so you can't disappear banks. The same is also when buying bitcoins through your debit card or bank account it goes through bank.

Yeah we need banks and fiat money to exchange our bitcoins as we don't have an option to spend it directly and there are not many places that accepts bitcoin as a mode of payment.

even if it was possible to spend our coins directly, merchants accepting bitcoin as payment option depend on fiat. all their sales are directly converted to fiat by their payment provider. they just receive the money in their bank account. they will mosy likely never accept the coins directly due to regular heavy fluctuations.

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