Can Bitcoin make Banks disappear? - page 208.

Mastsetad

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Quote from: caxandra on October 15, 2016, 10:32:15 AM

I don't think it will change the economy that much, banks are an integral part of the economy and how currencies work and I don't think bitcoin is deleting it but rather might be a portion of it in time and I don't think it's impossible to see a real bitcoin bank in the future.

Though it is not impossible to see a bitcoin bank in future but that would only be possible if a government accepts it in the country to be independent because mostly governments wont like their citizen to use something in form of money which is not in their control.

eddyubachs

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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.

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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.

the only reason for that is because we need fiat to function. in other words if we could use bitcoin as a currency for every day needs and in every shop out there, then there would have been no need for banks and i think that is the only way that bitcoin can make banks disappear or at least make them less useful than before.

chen miao

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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.

goinmerry

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Quote from: caxandra on October 15, 2016, 10:32:15 AM

I don't think it will change the economy that much, banks are an integral part of the economy and how currencies work and I don't think bitcoin is deleting it but rather might be a portion of it in time and I don't think it's impossible to see a real bitcoin bank in the future.

Yeah and they have a lot of rich subscribers. So it wont be easy to pull down banks. Maybe of could rob one bank in many places at the same time you could take them down. I highly doubt there is someone who could do that. If you rob just one bank in one place they could make it back thanks to the people.

caxandra

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I don't think it will change the economy that much, banks are an integral part of the economy and how currencies work and I don't think bitcoin is deleting it but rather might be a portion of it in time and I don't think it's impossible to see a real bitcoin bank in the future.

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Quote from: bitcoin21 on October 15, 2016, 07:47:24 AM

I think that banks will not disapper completely. They have a task to finance businesses. But I think that people will get more independed from banks in the future. Thanks to Bitcoin and others.

You have a point though but still people would really still depend on banks on the future hence its part of the economy and play an important role . Government would not allow that banks would disappear because they have a full control of it. Bitcoin would somehow be succesful on future regarding on online transactions.

bitcoin21

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I think that banks will not disapper completely. They have a task to finance businesses. But I think that people will get more independed from banks in the future. Thanks to Bitcoin and others.

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Quote from: JumperX on October 15, 2016, 07:28:45 AM

Quote from: The_prodigy on October 15, 2016, 05:49:36 AM

Quote from: GermanFoobla on June 08, 2016, 09:07:44 AM

off course can bitcoin not make banks disappear what will the world be like if there where no banks. Where do we all need to store our money i dont think it would verry save on earth on that moment.

I thought you are going to answer it YES because you agree with ofcourse then segway lol, anyways bitcoin can't really make banks disappeared even bitcoin will becoming more popular than bank, We are using banks since bitcoin not alive in that year and bank helps us to save and to earn money.

People have more faith in banks as they are using it since long time and there are many people who are not aware about bitcoins yet and even if they get aware they will continue to use banks and not bitcoins.

People need both. Bitcoin is as important as bank for me. Becouse bitcoin is not just a currency but it an investment too. I think it would be good if both are always alive.

victoryboy

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Bitcoin has made its parallel way and is considered online digital currency and is being used successfully. It has limited supply which makes its circle limited as well. Bitcoin is not threat to banking system though it has been a cause of loss for banks like online transfers and gambling where Bitcoin has over taken the space. Banking field is very vast and can not disappear in no case.

JumperX

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Quote from: The_prodigy on October 15, 2016, 05:49:36 AM

Quote from: GermanFoobla on June 08, 2016, 09:07:44 AM

off course can bitcoin not make banks disappear what will the world be like if there where no banks. Where do we all need to store our money i dont think it would verry save on earth on that moment.

I thought you are going to answer it YES because you agree with ofcourse then segway lol, anyways bitcoin can't really make banks disappeared even bitcoin will becoming more popular than bank, We are using banks since bitcoin not alive in that year and bank helps us to save and to earn money.

People have more faith in banks as they are using it since long time and there are many people who are not aware about bitcoins yet and even if they get aware they will continue to use banks and not bitcoins.

Weeya

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In my own opinion, banks can't disappear because it is powerful enough to stay in its place. Tho we need them both. We need bitcoin as well as banks.

Qeebit

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No bitcoins cannot make banks disappear but if the price of bitcoin becomes stable and people start to store their money in bitcoins then it will reduce the income of banks and then banks will try to find some ways so that people start to store their money or bitcoins in banks.

The_prodigy

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Quote from: GermanFoobla on June 08, 2016, 09:07:44 AM

off course can bitcoin not make banks disappear what will the world be like if there where no banks. Where do we all need to store our money i dont think it would verry save on earth on that moment.

I thought you are going to answer it YES because you agree with ofcourse then segway lol, anyways bitcoin can't really make banks disappeared even bitcoin will becoming more popular than bank, We are using banks since bitcoin not alive in that year and bank helps us to save and to earn money.

Amadues

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btc can CHANGE the concept behind a bank, with a trustable platform, or even a new type of contracts!

The banks are "here to stay" I think it's quietly impossible they can be turn off!

just a small percentage of people are using daily their btc, for the rest of the world this is just another "nerd" project, too difficult for a normal use !

SANALIU

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never, bitcoin will can't make bake disappear
bitcoin can't take over and replace position bank
bank not only saving, but much function

sherlock33

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I think not. Because the world needs both of them.
Banks and bitcoin are different things. We should not let one make the other one disappear.

Gilf

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In recent years, the trust banks diminished, but bitcoin has not yet become quite popular. The choice is difficult to make.

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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 bitcoin will never hit the mainstream as Government will never allow to happen that and bitcoin will be always used as an secondary currency, and even if bitcoin gains more popularity in future, banks will still exist.

btcdevil

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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.

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