Topic: Can Bitcoin make Banks disappear? - page 216. (Read 427614 times)
As a fuly decentraliezed and independent system Bitcoin will not replace the banks. I'm sure that many people would like that but this is not possible because the whole worlds financial system relies on banks. But I'm sure if there is the will banks could embrase Bitcoin.
Bitcoin will never be able to make banks disappeared. Perhaps I did not fully understand all the financial systems and how they work, but I know that they work together. Dented, they can only work together.
I think this will not going to happen. Banks can provide some services for bitcoins in future but they are not going to disappear. Banks are the reliable way to safe your wealth but if it will disappear there is no one to whom you will claim your hacked amount from bitcoin wallets.
No I don't think so
I think bitcoin does have the potential to change the world and how we view it, I am not sure if it can make banks which is a system that still have some advantages disappear.. I think there might be something more of a bitcoin bank rather than the traditional ones.
I think bitcoin will not be able to make the Bank lost. why not? because Bank is one of financial institutions a very important for international economy. so bitcoin will not be able to eliminate the Bank
There is no way that bitcoin can replace one of the main services that banks offers to the people, we do see p2p websites trying to make similiar things, and in the general scammers are running away with investors money, soo lets be realistic, its possible lend some bitcoins, but replace banks wont happen.
Yeah you are right, banks are regulated and governed by the government and I don't think that the government is going to allow this to happen. What is more possible to happen is that banks and government is the one that is going to make bitcoin disappear. Because the government is not able to control bitcoins.
The only thing that governments can do is to push back Bitcoin by applying ridiculous policies towards companies operating in their country. If they forbid companies to work with Bitcoin in any way, then it will be much harder for the average joe to jump into Bitcoin. That's how they effectively can keep Bitcoin in a relatively small form.
Banks are the strongest financial institution that we have and comparatively bitcoin is too small, its not that powerful that it can make banks disappear, as banks have support from the Government and society.
Bitcoins can do allot f things they can make allot of thjings disappear like the fiat and other currencys but you cant disappear something where you exist about so no it is unpossible.
There is no way that bitcoin can replace one of the main services that banks offers to the people, we do see p2p websites trying to make similiar things, and in the general scammers are running away with investors money, soo lets be realistic, its possible lend some bitcoins, but replace banks wont happen.
Yeah you are right, banks are regulated and governed by the government and I don't think that the government is going to allow this to happen. What is more possible to happen is that banks and government is the one that is going to make bitcoin disappear. Because the government is not able to control bitcoins.
The only thing that governments can do is to push back Bitcoin by applying ridiculous policies towards companies operating in their country. If they forbid companies to work with Bitcoin in any way, then it will be much harder for the average joe to jump into Bitcoin. That's how they effectively can keep Bitcoin in a relatively small form.
that's an extreme action that they might take when bitcoin grows too large. that's why i like how bitcoin is in its current form. right now are still the good times. just imagine what will happen with regulations once bitcoin gains much wider terrain in the world. governments won't stay sleeping as they somewhat do right now. the difference will me immense.
There is no way that bitcoin can replace one of the main services that banks offers to the people, we do see p2p websites trying to make similiar things, and in the general scammers are running away with investors money, soo lets be realistic, its possible lend some bitcoins, but replace banks wont happen.
Yeah you are right, banks are regulated and governed by the government and I don't think that the government is going to allow this to happen. What is more possible to happen is that banks and government is the one that is going to make bitcoin disappear. Because the government is not able to control bitcoins.
The only thing that governments can do is to push back Bitcoin by applying ridiculous policies towards companies operating in their country. If they forbid companies to work with Bitcoin in any way, then it will be much harder for the average joe to jump into Bitcoin. That's how they effectively can keep Bitcoin in a relatively small form.
There is no way that bitcoin can replace one of the main services that banks offers to the people, we do see p2p websites trying to make similiar things, and in the general scammers are running away with investors money, soo lets be realistic, its possible lend some bitcoins, but replace banks wont happen.
Bitcoin replacing banks is definitely possible. People use banks in order to secure their money. They can do this in Bitcoin as well. And just like you mentioned, there are users in the Bitcoin world that allows people to loan. Banks do this too but they make sure that you'll pay by taking a collateral or by doing a very good background check. And if you're problem is the fact that a lot of people runs away from the lender, this happens in real world too. I don't see any difference at all.I would disagree with you, bitcoin cant replace banks anytime soon since fiat would be remain strong even how bitcoin would progress on upcoming years or future. If fiat could be replace by bitcoin then thats the time you could say that banks would disappear but for me im 100% sure it wont happen.
There is no way that bitcoin can replace one of the main services that banks offers to the people, we do see p2p websites trying to make similiar things, and in the general scammers are running away with investors money, soo lets be realistic, its possible lend some bitcoins, but replace banks wont happen.
Bitcoin replacing banks is definitely possible. People use banks in order to secure their money. They can do this in Bitcoin as well. And just like you mentioned, there are users in the Bitcoin world that allows people to loan. Banks do this too but they make sure that you'll pay by taking a collateral or by doing a very good background check. And if you're problem is the fact that a lot of people runs away from the lender, this happens in real world too. I don't see any difference at all.I would disagree with you, bitcoin cant replace banks anytime soon since fiat would be remain strong even how bitcoin would progress on upcoming years or future. If fiat could be replace by bitcoin then thats the time you could say that banks would disappear but for me im 100% sure it wont happen.
There is no way that bitcoin can replace one of the main services that banks offers to the people, we do see p2p websites trying to make similiar things, and in the general scammers are running away with investors money, soo lets be realistic, its possible lend some bitcoins, but replace banks wont happen.
Bitcoin replacing banks is definitely possible. People use banks in order to secure their money. They can do this in Bitcoin as well. And just like you mentioned, there are users in the Bitcoin world that allows people to loan. Banks do this too but they make sure that you'll pay by taking a collateral or by doing a very good background check. And if you're problem is the fact that a lot of people runs away from the lender, this happens in real world too. I don't see any difference at all. 
I don’t think that anything like crypto currency can make banks disappear because we must understand the fact that there are still large number of people is using traditional payment method like fiat and the majority is more than 80% (even we are also using fiat) so there is no possibility that crypto can make banks disappear. At any stage of financial period, fiat will be there even after 50 years people will be using fiat but form might be different such as digital wallet.
I totally agree. Well, unless the whole countries in this world will be progressive enough and even the remotest place in this planet have access to fast internet and latest technology then, maybe, cryptocurrencies will be dominating and making banks quite disappear. But you know, the example here is just an ideal thing - it is a utopia. There are still many individuals - actually, millions of people that have no access to latest technology and gadgets due to financial constraint and they are using fiat money as their mode of commerce in their respective locations.
Don’t even talk about latest technology and gadgets, there are millions of people who don’t even get enough food for a living so the journey is too long for crypto currency to reach the last person. Probably it will take 100+ years for each and every person in remote place to understand and use bitcoin or other crypto currency.
There is no way that bitcoin can replace one of the main services that banks offers to the people, we do see p2p websites trying to make similiar things, and in the general scammers are running away with investors money, soo lets be realistic, its possible lend some bitcoins, but replace banks wont happen.
Yeah you are right, banks are regulated and governed by the government and I don't think that the government is going to allow this to happen. What is more possible to happen is that banks and government is the one that is going to make bitcoin disappear. Because the government is not able to control bitcoins.
There is no way that bitcoin can replace one of the main services that banks offers to the people, we do see p2p websites trying to make similiar things, and in the general scammers are running away with investors money, soo lets be realistic, its possible lend some bitcoins, but replace banks wont happen.
I don’t think that anything like crypto currency can make banks disappear because we must understand the fact that there are still large number of people is using traditional payment method like fiat and the majority is more than 80% (even we are also using fiat) so there is no possibility that crypto can make banks disappear. At any stage of financial period, fiat will be there even after 50 years people will be using fiat but form might be different such as digital wallet.
I totally agree. Well, unless the whole countries in this world will be progressive enough and even the remotest place in this planet have access to fast internet and latest technology then, maybe, cryptocurrencies will be dominating and making banks quite disappear. But you know, the example here is just an ideal thing - it is a utopia. There are still many individuals - actually, millions of people that have no access to latest technology and gadgets due to financial constraint and they are using fiat money as their mode of commerce in their respective locations.
Don’t even talk about latest technology and gadgets, there are millions of people who don’t even get enough food for a living so the journey is too long for crypto currency to reach the last person. Probably it will take 100+ years for each and every person in remote place to understand and use bitcoin or other crypto currency.
Thinking bitcoin can make banks dissappear is maybe a little bit too ambitious but it can make banks lose money ofcourse I think it's already doing that.
Ofcourse banks don't feel the pain yet but when it gets more globally adopted then they will feel the pain for sure.
Ofcourse banks don't care about bitcoin and bitcoin needs bank if you are going to choose between that two you choosen the right one the banks Ofcourse banks don't feel the pain yet but when it gets more globally adopted then they will feel the pain for sure.
and it is more okay if you people are going to choose bank than bitcoins thenBitcoin cannot be used anywhere at a moment physically and to spend them we need to sell them and convert it to fiat currency and for that we need banks for transaction.
Banks still needed because only banks can exchange our bitcoins.
Banks are important in our lives because it is the one that helps to regulate the use of money in a country and if bitcoin is going to make banks disappear then the government is going to have hard time to regulate the use of bitcoin. And for me it is impossible to make banks disappear because of bitcoin, that is only possible if the government implements so.
Thinking bitcoin can make banks dissappear is maybe a little bit too ambitious but it can make banks lose money ofcourse I think it's already doing that.
Ofcourse banks don't feel the pain yet but when it gets more globally adopted then they will feel the pain for sure.
Ofcourse banks don't care about bitcoin and bitcoin needs bank if you are going to choose between that two you choosen the right one the banks Ofcourse banks don't feel the pain yet but when it gets more globally adopted then they will feel the pain for sure.
and it is more okay if you people are going to choose bank than bitcoins thenBitcoin cannot be used anywhere at a moment physically and to spend them we need to sell them and convert it to fiat currency and for that we need banks for transaction.
Banks still needed because only banks can exchange our bitcoins.
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