Can Bitcoin make Banks disappear? - page 209.

Noctis Connor

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Quote from: Carlsen on October 14, 2016, 10:12:35 AM

I see no way that a crypto currency can be any kind of competition to a bank.
For that, the amount of money that's in the whole crypto market is way too low.
Besides, bitcoin is only a way of payment. Banks provide much more services than that.

I think no one will make banks disappear because bank now are really stronger than any other savings online and of course there are lots of competition in bank but there are people who had different banks and trusting it not like bitcoin so much atlcoins too to make bitcoin more grow.

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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.

Bank is a big business that government supported, they print money for us so they will not disappear for sure, on the other hand bitcoin is just a digital currency very alive because of our support but if you look at closer, we are still getting the money from the bank to buy bitcoins.

ImnotOctopus

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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.

rubberbandloser

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It would be possible. But the governments would never allow it.

South Park

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Quote from: subhiii on October 12, 2016, 02:38:53 PM

In future, when bitcoin will dominate in sending - receiving - depositing funds kind of bank works, I believe banks will start different type of banking like providing safe vault or mortgage kind of services alone. Banks will fall.

I don't think the banks will fall either just because of bitcoin. Remember who is with banks and that is the supreme government of a country. And I don't think that government is going to allow it for banks are really important in a cycle of an economy of a country but I think that bitcoin will be considered by government too.

Another possibility is that banks and governments will begin to create their own crypto currencies market them as the next big thing and claiming that is better than bitcoin, people being people will fall surely in the trap and that way banks will be able to make money out of crypto currencies.

Banks already are into the blockchain technology It won't take much time before they start with their own coin. I hope they do it alone and not with a partnership, because banks are very powerfull and if they launch it together, it will be hard for bitcoin.

Maybe but also maybe we can use that bank coin to profit in bitcoin, you can never know what'll happen.

It may seems so but a government and banking issued crypto currency will probably follow similar rules to the ones we have right now, bitcoin with all its technological innovation has in the limit of coins one of its greatest qualities, a government crypto will probably not have a limit and will be possible to print it to oblivion.

BitcoinMarshal

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i dont think bitcoin can replace banks. because i don't think banks will disappear, at least not yet. It's all online, so poorer people and the old generations (our grandparents/parents) might have not heard of it yet. Having their money stored online for them is something they won't accept because they are used to having their money stored in "safer banks" or just in their real wallet.

Its need too much time to adopt in developing countries so its very difficult that we can make banks disappear currently its very important part of over lives as many have pension and many old peoples depend on these banks for rest of lives

StarofBTC

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i dont think bitcoin can replace banks. because i don't think banks will disappear, at least not yet. It's all online, so poorer people and the old generations (our grandparents/parents) might have not heard of it yet. Having their money stored online for them is something they won't accept because they are used to having their money stored in "safer banks" or just in their real wallet.

In my opinion, bitcoin will take more time to be adopted by all age group people. Due to only on online presence, bitcoin has not be got familiar among different age groups. But, things will change in future whereas we need to depend on online for each and everything, at those times people will just forget about using banks.

danherbias07

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Quote from: ?? on ??

i dont think bitcoin can replace banks. because i don't think banks will disappear, at least not yet. It's all online, so poorer people and the old generations (our grandparents/parents) might have not heard of it yet. Having their money stored online for them is something they won't accept because they are used to having their money stored in "safer banks" or just in their real wallet.

I think also the same. The time when banks will disappear is just the time when people got enough of it and seen the real deal inside that industry. Their eyes are still blinded with just a little amount the banks give them which you would not even feel for a lot of years.

AncilVTwo

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One thing is sure bitcoin and others crypto wouldnt exist without banks,that are the main way to us to moove our money into online stores,into companies like paypal.Soo without banks would be any crypto,soo thinking the child could kill the mom its not gonna happen .

Carlsen

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I see no way that a crypto currency can be any kind of competition to a bank.
For that, the amount of money that's in the whole crypto market is way too low.
Besides, bitcoin is only a way of payment. Banks provide much more services than that.

Noctis Connor

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Quote from: maudevang on October 13, 2016, 08:00:21 AM

No, I do not see this happen at all, maybe that banks can accept it or something but the bitcoin will never achieve it to disappear banks, I think its simply not possible if I have to be honest.

This will not happen because many people are using banks and its more investors who really uses banks than bitcoin if you can see bank is more secured that bitcoin the difference in bitcoin is you are unknown if you are bitcoin and it will hide all you identity and in bank it will need all identities.

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Quote from: Seansky on October 14, 2016, 04:27:07 AM

Banks won't disappear because of bitcoin. I said it because the governments and institutions who support banks will not let bitcoin make banks disappear that easily. They'll maybe try to consider assassinating bitcoin. On the other hand, there's a very slight possibility that they will support bitcoin and make bank disappear but the chance of it happening is less than 1%.

For sure because if banks disappear that means there is a chaos in the world and money is not already recognize as a valuable thing. Further, it will never happen that bitcoin will make banks disappear since we are solely relying on banks for the price. Central banks print money so if banks disappear paper money will also disappear.

Seansky

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Banks won't disappear because of bitcoin. I said it because the governments and institutions who support banks will not let bitcoin make banks disappear that easily. They'll maybe try to consider assassinating bitcoin. On the other hand, there's a very slight possibility that they will support bitcoin and make bank disappear but the chance of it happening is less than 1%.

BitHodler

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Quote from: dinda22 on October 14, 2016, 03:49:40 AM

Quote from: 1Referee on October 14, 2016, 03:34:13 AM

Quote from: lucki777 on October 14, 2016, 02:57:31 AM

yes bitcoin is going to disappear banks but not in present time, i think it will take a lot of time when all the people of the world will start using bitcoin instead of fiat currency and then they will use wallets instead of banks accounts. but i think still there is a lot of time for this to happen, and it is not such an easy job.

It's not possible. How many times do you need to hear that in order to realize it? There will never be a situation where all people in the world will use Bitcoin. I even doubt there will be 1% of the world population that will use Bitcoin within 10 years or so.

it's really impossible that the bank will be lost because bitcoin. even bitcoin is still a lot of doubt, because there is no controlling the bitcoin. also the future of bitcoin is not yet clear. bitcoin will only become an alternative currency although it will be better than other currencies.

That, and also the fact that when Bitcoin becomes too much of a threat to the current financial system, governments will take serious actions to prevent Bitcoin from growing further.

That's another important reason as to why Bitcoin doesn't have the power the replace or make banks disappear.

MTBTT

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Quote from: dhimasnk on October 13, 2016, 11:58:35 PM

bitcoin make Bank disappear? I think this is not going to happen. why? Bank is institutions economy official participating in the National economy, so i'm not sure bitcoin can make the Bank disappear

yeah I agree with you, let alone bitcoin is owned by the government so it is unlikely that the bank will disappear because bitcoin. especially if fiat could still survive

dinda22

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Quote from: 1Referee on October 14, 2016, 03:34:13 AM

Quote from: lucki777 on October 14, 2016, 02:57:31 AM

yes bitcoin is going to disappear banks but not in present time, i think it will take a lot of time when all the people of the world will start using bitcoin instead of fiat currency and then they will use wallets instead of banks accounts. but i think still there is a lot of time for this to happen, and it is not such an easy job.

It's not possible. How many times do you need to hear that in order to realize it? There will never be a situation where all people in the world will use Bitcoin. I even doubt there will be 1% of the world population that will use Bitcoin within 10 years or so.

it's really impossible that the bank will be lost because bitcoin. even bitcoin is still a lot of doubt, because there is no controlling the bitcoin. also the future of bitcoin is not yet clear. bitcoin will only become an alternative currency although it will be better than other currencies.

1Referee

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Quote from: lucki777 on October 14, 2016, 02:57:31 AM

yes bitcoin is going to disappear banks but not in present time, i think it will take a lot of time when all the people of the world will start using bitcoin instead of fiat currency and then they will use wallets instead of banks accounts. but i think still there is a lot of time for this to happen, and it is not such an easy job.

It's not possible. How many times do you need to hear that in order to realize it? There will never be a situation where all people in the world will use Bitcoin. I even doubt there will be 1% of the world population that will use Bitcoin within 10 years or so.

lucki777

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yes bitcoin is going to disappear banks but not in present time, i think it will take a lot of time when all the people of the world will start using bitcoin instead of fiat currency and then they will use wallets instead of banks accounts. but i think still there is a lot of time for this to happen, and it is not such an easy job.

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Quote from: Liang_Kubur on October 14, 2016, 01:19:51 AM

In future, when bitcoin will dominate in sending - receiving - depositing funds kind of bank works, I believe banks will start different type of banking like providing safe vault or mortgage kind of services alone. Banks will fall.

Well, no one knows, banks could also do their thing and improve their services and process online payments too like paypal and the likes... Not to mention that there are also other transactions that happens in the banks...They are backed by strong people and they are the one's considered as acceptable when it comes to money by many, therefore they will still play along with bitcoin...

Liang_Kubur

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In future, when bitcoin will dominate in sending - receiving - depositing funds kind of bank works, I believe banks will start different type of banking like providing safe vault or mortgage kind of services alone. Banks will fall.

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