Can Bitcoin make Banks disappear? - page 211.

drwtsn32

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Quote from: SquallLeonhart on October 13, 2016, 04:40:44 AM

Quote from: piloder on October 13, 2016, 04:06:35 AM

Bitcoin have lots of potential however it don't gonna replace banks or paper moneys in near future for sure as lots of people are still there in the world who can't even use electronic payment systems and for them bitcoin will be really hard system to understand.

Yeah and especially older generation will never prefer to use bitcoins and will keep supporting and using banks for their financial transactions as they will find bitcoin very complicated method.

Exactly. That's why I keep saying "why don't we treat banks and bitcoin as different things?"
They can go along together, you know. They can help each other and integrate instead of trying to make each other disappear.

SquallLeonhart

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Quote from: piloder on October 13, 2016, 04:06:35 AM

Bitcoin have lots of potential however it don't gonna replace banks or paper moneys in near future for sure as lots of people are still there in the world who can't even use electronic payment systems and for them bitcoin will be really hard system to understand.

Yeah and especially older generation will never prefer to use bitcoins and will keep supporting and using banks for their financial transactions as they will find bitcoin very complicated method.

piloder

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Bitcoin have lots of potential however it don't gonna replace banks or paper moneys in near future for sure as lots of people are still there in the world who can't even use electronic payment systems and for them bitcoin will be really hard system to understand.

diodio5

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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 think you're free to think about the future of bitcoin, but when fiat continues to be the main currency in the world and in every country, it will not be possible for bitcoin to be able to make the banks disappear, one thing is certain that if bitcoin want to beat the bank, they have to beat fiat first

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Quote from: tampazeus on October 13, 2016, 12:19:55 AM

Quote from: bhadz on October 13, 2016, 12:18:26 AM

Quote from: dearbesz1219 on October 12, 2016, 11:45:48 PM

I don't think that bitcoin make disappear. Though I know there is a possibility to be happen. But in this point of time bitcoin is in the stage of due process of popularity. I do believe a years from now it will become a well known digital currency worldwide, because of its benefits for the users and advantage too.

It is really impossible to believe that bitcoin is going to make the banks to disappear because we all know that banks are important to a country. And it is impossible that the banks are going to allow bitcoin to make them liquify easily because of bitcoin instead the banks have the power to make bitcoin to disappear.

Yeah banks will never disappear but there is a full chance then bitcoin may disappear in future if the Government of countries ban it and declare it as an illegal currency.

You said the exact thing dude, banks would never disappear and government wouldnt allow that thing to happen for sure and theres no connection on a cryptocurrency no a bank hence banks would not benefit from bitcoin at all hence they could not able to control it.

bitcoinisbest

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Bank will never go away . BTC is not complete alternate to the banking services which bank rendered that bank can disappear.

Yes there may be some shift happening as an when gradually bank starts using the blockchain technology so make the transfer faster and more easier way.

Windpower

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Quote from: bamboylee on October 12, 2016, 12:13:03 AM

Quote from: bitcoinvestor on October 08, 2016, 05:23:38 PM

Banking Industry will not disapear. They will adapt to new technology, even cryptocurrencies. When all people use cryptocurrency , of course the bankers will put a lot of investment in cryptocurrencies so the technology of banking will follow the developpment of cryptocurrency.

Why would bank use cryptocurrency? They cannot control it, it is the exact opposite of bank where they operate base on trust while crypto is trustless. I think banks will not disappear though even if crypto become the major thing.

Yeah they definitely won't make money from it. People only use banks for loans and to store money. You can store Bitcoin yourself which is also much more secure and you can get loans from people on this forum if you want.

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Quote from: bhadz on October 13, 2016, 12:18:26 AM

Quote from: dearbesz1219 on October 12, 2016, 11:45:48 PM

I don't think that bitcoin make disappear. Though I know there is a possibility to be happen. But in this point of time bitcoin is in the stage of due process of popularity. I do believe a years from now it will become a well known digital currency worldwide, because of its benefits for the users and advantage too.

It is really impossible to believe that bitcoin is going to make the banks to disappear because we all know that banks are important to a country. And it is impossible that the banks are going to allow bitcoin to make them liquify easily because of bitcoin instead the banks have the power to make bitcoin to disappear.

Yeah banks will never disappear but there is a full chance then bitcoin may disappear in future if the Government of countries ban it and declare it as an illegal currency.

bhadz

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Quote from: dearbesz1219 on October 12, 2016, 11:45:48 PM

I don't think that bitcoin make disappear. Though I know there is a possibility to be happen. But in this point of time bitcoin is in the stage of due process of popularity. I do believe a years from now it will become a well known digital currency worldwide, because of its benefits for the users and advantage too.

It is really impossible to believe that bitcoin is going to make the banks to disappear because we all know that banks are important to a country. And it is impossible that the banks are going to allow bitcoin to make them liquify easily because of bitcoin instead the banks have the power to make bitcoin to disappear.

dearbesz1219

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I don't think that bitcoin make disappear. Though I know there is a possibility to be happen. But in this point of time bitcoin is in the stage of due process of popularity. I do believe a years from now it will become a well known digital currency worldwide, because of its benefits for the users and advantage too.

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Quote from: bamboylee on October 12, 2016, 10:39:54 PM

Quote from: Caladonian on October 12, 2016, 01:22:39 AM

Quote from: bamboylee on October 12, 2016, 12:13:03 AM

Quote from: bitcoinvestor on October 08, 2016, 05:23:38 PM

Banking Industry will not disapear. They will adapt to new technology, even cryptocurrencies. When all people use cryptocurrency , of course the bankers will put a lot of investment in cryptocurrencies so the technology of banking will follow the developpment of cryptocurrency.

Why would bank use cryptocurrency? They cannot control it, it is the exact opposite of bank where they operate base on trust while crypto is trustless. I think banks will not disappear though even if crypto become the major thing.

that's right because there's still many people who doesn't want to take a risk they wont let their money to be at stake if they can only realized how the bank works but there's a lots of things to work out with btc before people will embrace the potentials.

Banks have been here for a very long time that people have developed a blind trust in it that is why do not care what the banks are doing in our money. If they understand this, they will absolutely switch to bitcoin.

They use our money also to create an incone for them. The problem is they just give a little portion to the people who are putting their money in banks. Even if they are making a lot of money from it. People are already thankful for that little portion that they didnt even know they should be receiving more.

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Quote from: co5hike on October 12, 2016, 08:46:11 PM

Quote from: ?? on ??

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.

Exactly, banks have support from the governments and even from the people as it is the strongest financial institution we have which is running since long time and the fact is that people have blind trust on it.

Yes, i agree that Bitcoin may dominate sending, receiving and depositing funds kind of bank works, But The Bitcoin wallet is not safe like Bank accounts. Yes if anything fraud happened in Bank means the government will take care of that, But the same fraud occurs in Bitcoin wallet means who will take care of it, Where you raise your complaint. So I think Bank will never disappear.

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Quote from: Caladonian on October 12, 2016, 01:22:39 AM

Quote from: bamboylee on October 12, 2016, 12:13:03 AM

Quote from: bitcoinvestor on October 08, 2016, 05:23:38 PM

Banking Industry will not disapear. They will adapt to new technology, even cryptocurrencies. When all people use cryptocurrency , of course the bankers will put a lot of investment in cryptocurrencies so the technology of banking will follow the developpment of cryptocurrency.

Why would bank use cryptocurrency? They cannot control it, it is the exact opposite of bank where they operate base on trust while crypto is trustless. I think banks will not disappear though even if crypto become the major thing.

that's right because there's still many people who doesn't want to take a risk they wont let their money to be at stake if they can only realized how the bank works but there's a lots of things to work out with btc before people will embrace the potentials.

Banks have been here for a very long time that people have developed a blind trust in it that is why do not care what the banks are doing in our money. If they understand this, they will absolutely switch to bitcoin.

co5hike

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Quote from: ?? on ??

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.

Exactly, banks have support from the governments and even from the people as it is the strongest financial institution we have which is running since long time and the fact is that people have blind trust on it.

subhiii

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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.

doraemon1

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No I do think this can happen in my opinion this is highly unlikely but we will see what is gonna happen of course because the fact is that its not to predict.
The banks are controlling the world and they have a lot of power that is why I do not think the bitcoin do it.

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Quote from: South Park on October 12, 2016, 11:49:39 AM

Quote from: Doamader on October 11, 2016, 04:29:38 PM

Quote from: South Park on October 11, 2016, 03:53:05 PM

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.

And what do you think it will come off those possible cases against the banks? Banks and bankers are too powerful they will never suffer the consequences of their actions.

The law is for the people and for the companies, sure they can try to buy the law, but sooner or later someone will find and put them into the jail, banks doesnt need and wont scam, they make and earn huge loads of money all years, dont expect bitcoin to be a problem to them, just few of us able to live without them.

They don’t have to try, they already did, banks don’t scam? A few years ago HSBC was investigated for money laundering, what do you think it happened, nothing just a fine, a gigantic fine for any of us, but nothing for a bank.

These big banks are criminals or help the criminals. Quite a few got fined for doing bad things.

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Quote from: Doamader on October 11, 2016, 04:29:38 PM

Quote from: South Park on October 11, 2016, 03:53:05 PM

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.

And what do you think it will come off those possible cases against the banks? Banks and bankers are too powerful they will never suffer the consequences of their actions.

The law is for the people and for the companies, sure they can try to buy the law, but sooner or later someone will find and put them into the jail, banks doesnt need and wont scam, they make and earn huge loads of money all years, dont expect bitcoin to be a problem to them, just few of us able to live without them.

They don’t have to try, they already did, banks don’t scam? A few years ago HSBC was investigated for money laundering, what do you think it happened, nothing just a fine, a gigantic fine for any of us, but nothing for a bank.

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Quote from: machinek20 on October 12, 2016, 12:28:37 AM

Quote from: bamboylee on October 12, 2016, 12:13:03 AM

Quote from: bitcoinvestor on October 08, 2016, 05:23:38 PM

Banking Industry will not disapear. They will adapt to new technology, even cryptocurrencies. When all people use cryptocurrency , of course the bankers will put a lot of investment in cryptocurrencies so the technology of banking will follow the developpment of cryptocurrency.

Why would bank use cryptocurrency? They cannot control it, it is the exact opposite of bank where they operate base on trust while crypto is trustless. I think banks will not disappear though even if crypto become the major thing.

That's exactly, why should bank adapt cryptocurrencies? and i dont think any crypto currencies will be agree if bank and cryptocurrencies work together, their main based idea is totally different, so i think the best both of them in their place separately
and nothing in this world can make bank disappear because it's the country financial stronghold, if bank disappear there will chaos in that country

As you said they are really different from each other and i would totally agree with you hence bitcoins is a digital currency while bank is a fiat storage and they differ in any way and also banks are just storing fiat and would not intend to engage on cryptos because banks are being controled by the government.

Caladonian

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Quote from: bamboylee on October 12, 2016, 12:13:03 AM

Quote from: bitcoinvestor on October 08, 2016, 05:23:38 PM

Banking Industry will not disapear. They will adapt to new technology, even cryptocurrencies. When all people use cryptocurrency , of course the bankers will put a lot of investment in cryptocurrencies so the technology of banking will follow the developpment of cryptocurrency.

Why would bank use cryptocurrency? They cannot control it, it is the exact opposite of bank where they operate base on trust while crypto is trustless. I think banks will not disappear though even if crypto become the major thing.

that's right because there's still many people who doesn't want to take a risk they wont let their money to be at stake if they can only realized how the bank works but there's a lots of things to work out with btc before people will embrace the potentials.

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