Can Bitcoin make Banks disappear? - page 212.

machinek20

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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 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

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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.

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The banking industry plays a big role in our daily lives. Even if you don't have your own bank account, your government has a lot of dealings with local and foreign banks, either for loans or other financial agreements. Bitcoin is still a very small player compared to the banking system. Bitcoin needs to exponentially grow to even have a small share of the clients that the banks now have.

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Quote from: danherbias07 on October 11, 2016, 11:40:04 PM

It is in history and some countries even put it in their paper money. I guess you cant just make it disappear. If that happen many changes will happen and that might include some chaos in the financial industry.

That means a strong, superpower country conquered the world already and imposing the use of bitcoin and pushing the banks to go digital and all its paper money too...That's too impossible to happen... Besides banks in the world are not just owned by one and if one bank disappear perhaps a new one will appear, so that's impossible to happen...

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It is in history and some countries even put it in their paper money. I guess you cant just make it disappear. If that happen many changes will happen and that might include some chaos in the financial industry.

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Quote from: boyptc on October 11, 2016, 10:30:26 PM

Quote from: shinratensei_ on October 11, 2016, 08:25:02 PM

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.

But the bank just take the system are used by the crypto and never for following the development of crypto, the bank will make a different ideas and is not copied from the crypto ideas, but just seeing about how the bank and crypto will making a competition.

Yes they won't copy the crypto ideas but they will going to make the same ideas as crypto does. Why? Because the people are using crypto so for sure they are going to make it happen but with the use of the local currencies. Just like USD, they are going to make USD digital but the same concept as the crypto currencies.

They can't do that for a simple reason that bitcoin and banks have not similarity, the big factor that they cannot be similar is that banks are centralized while bitcoin is decentralized.

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Quote from: shinratensei_ on October 11, 2016, 08:25:02 PM

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.

But the bank just take the system are used by the crypto and never for following the development of crypto, the bank will make a different ideas and is not copied from the crypto ideas, but just seeing about how the bank and crypto will making a competition.

Yes they won't copy the crypto ideas but they will going to make the same ideas as crypto does. Why? Because the people are using crypto so for sure they are going to make it happen but with the use of the local currencies. Just like USD, they are going to make USD digital but the same concept as the crypto currencies.

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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.

But the bank just take the system are used by the crypto and never for following the development of crypto, the bank will make a different ideas and is not copied from the crypto ideas, but just seeing about how the bank and crypto will making a competition.

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Quote from: zahra4577 on October 08, 2016, 05:30:27 PM

Quote from: jak3 on October 08, 2016, 10:51:24 AM

yes it can make banks disapper but it is not made for the compition it is made as an improved version of money system because bank system is the only chooise for us before bitcoin

How can bitcoin make bank disappear can you please elaborate ?

I think if you think about when bitcoin became popular and mainstream probably many people will think that it is possible to shift bitcoin fiat of the major currencies? but to be able to do it is a very difficult thing.
I think that as long as fiat currency is still the main bitcoin will not be able to eliminate bank

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I think it's NO. Because there is so much more user in Banks than the Bitcoin.
If everyone do not use the bank already, then, it is possible to make it happen.
Besides that, it is also impossible to most of the banks to use the bitcoin instead the fiat.

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Quote from: richardsNY on October 11, 2016, 06:57:29 PM

Quote from: dezoel on October 08, 2016, 10:13:30 PM

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.

That's right banks may start adopting blockchain technology in future but its hard to believe that they will support bitcoins as its a threat to banking system and banks will never disappear because of bitcoins.

It's actually very simple. You should see the government as some sort of a business. Would you adopt something that can make the revenue/profit of your business fall down like a rock? I don't think so. Neither will the government do so. In that aspect it's not difficult to figure out that governments will never incorporate Bitcoin.

I think bitcoin will adopt by the bank and not bank disappear cause bank is holding all currency and bitcoin is a currency, and governments should learn about bitcoin since bitcoin can helps more people if they will start more business accepting bitcoin as mode of payment i think it would be great in each country.

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Quote from: dezoel on October 08, 2016, 10:13:30 PM

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.

That's right banks may start adopting blockchain technology in future but its hard to believe that they will support bitcoins as its a threat to banking system and banks will never disappear because of bitcoins.

It's actually very simple. You should see the government as some sort of a business. Would you adopt something that can make the revenue/profit of your business fall down like a rock? I don't think so. Neither will the government do so. In that aspect it's not difficult to figure out that governments will never incorporate Bitcoin.

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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.

yes as mos of the people are thinking so that banks will disappear after bitcoin become more popular and when all the people of the world will start using bitcoin, but i think it is not such an easy job. first it will take really a lot of time that people will start using it and second is that even then bitocin cannot disappear as banks will welcome bitcoin and will accept bitcoins in banks.

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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.

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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.

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bitcoin make Bank disappear? I think this is not possible. why? Bank is one of institutions important useful set the country's economy. so it is impossible Bank lost due bitcoin

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Quote from: socks435 on October 08, 2016, 01:31:39 PM

Quote from: bitbunnny on October 08, 2016, 01:10:56 PM

Bitcoin can't make the banks disappear. This could never happen as long as the current worlds' financial system is set up as now. Banks are creating and moving the world economy and Bitcoin can't change that. But banks can accept the Bitcoins and accept blockchain technology and then with time situation can slowly change.

It will never be happen since bitcoin still need those banks to exchange or deposit money.. bitcoin is still just an alternative payment processor online because of bitcoin has a value..

I disagree with the second part of your post, bitcoin is not a payment processor, like PayPal, bitcoin is money, electronic money, do you see people trading PayPal, a payment processor, the same way they trade bitcoin and altcoins.

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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.

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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.

That's right banks may start adopting blockchain technology in future but its hard to believe that they will support bitcoins as its a threat to banking system and banks will never disappear because of bitcoins.

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Quote from: jak3 on October 08, 2016, 10:51:24 AM

yes it can make banks disapper but it is not made for the compition it is made as an improved version of money system because bank system is the only chooise for us before bitcoin

How can bitcoin make bank disappear can you please elaborate ?

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