Can Bitcoin make Banks disappear? - page 219.

dhimasnk

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Quote from: BTCBinary on January 11, 2016, 09:40:58 PM

It seems that experts say that Bitcoin 'Here to Stay,' But Banks Could Disappear.

"TheStreet: How do you think FinTech will impact the way banks operate?

Frank Schwab: Banks either react on, or they will disappear. Anyway, the consolidation of the banking industry accelerates as the behaviour of people changes. Some banks will benefit from [FinTech], some will be pushed to the back end, and some will disappear."
http://www.thestreet.com/story/13419089/1/bitcoin-here-to-stay-but-banks-could-disappear-says-fintech-expert.html

What's your read on that?

can bitcoin bank can disappear? I think it's impossible. as you know, the bank is authorized financial institution which controls the country's economy. so it is not possible if the banks become disappear because bitcoin

danherbias07

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Quote from: jacafbiz on September 27, 2016, 05:44:18 AM

No it can disappear because not all roles been played by the banks is being offered by Bitcoin, Bitcoin can not provide a vault service for me to keep and secure my Gold or precious metals. the only thing is that it can only reduce the influence of these banks

I think that is equivalent to cold storage or wallet. But when we are talking about physically robbing it then banks really have the upside with it. With our beloved golds, paper documents or old money that we think will have value in the future they can protect it really well.

jacafbiz

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No it can disappear because not all roles been played by the banks is being offered by Bitcoin, Bitcoin can not provide a vault service for me to keep and secure my Gold or precious metals. the only thing is that it can only reduce the influence of these banks

Mastsetad

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Quote from: boyptc on September 26, 2016, 08:26:28 PM

Quote from: Bitcoinbro on September 26, 2016, 03:00:56 PM

Banks got too much influence to dissapear. They are on the sidelines fighting to stop bitcoin's trend. First claiming bitcoin as their enemy but now launching their own blockchain solutions. So yeah with them being so influential I doubt bitcoin can make them dissapear.

Banks are now getting scared that they have a threat and they can see it to bitcoins. And if they aren't going do something about it for sure many clients of the banks are going to shift into using bitcoins. But the chance of making banks disappear by bitcoin is not going to happen. Because the government is not going to allow that.

I don't believe that the clients of banks would shift completely, but they might start putting some of their money from bank to bitcoin for earning profits with the time from the fluctuation of bitcoin, because right now people don't trust bitcoin as much as they trust banks.

randy8777

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Quote from: mammabitcoin2u on September 27, 2016, 12:40:20 AM

Bitcoin cannot make banks disappear. It CAN and is becoming a high competitor/alternative to fiat. Reason banks cannot disappear is paper money/fiat has to be printed and can be printed. BTC has a limit, (sadly) paper is limitless.

bitcoin is already an alternative currency. and to be exactly honest, i hope it will stay like this as i like the freedom that we have now. if bitcoin grows too large, then usage will be limited by governments by ridiculous policies. beside the fact that bitcoin can't replace banks and fiat, we should not hope for it to happen. bitcoin is here, so people should make use of it now.

ethereumhunter

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Quote from: mammabitcoin2u on September 27, 2016, 12:40:20 AM

Bitcoin cannot make banks disappear. It CAN and is becoming a high competitor/alternative to fiat. Reason banks cannot disappear is paper money/fiat has to be printed and can be printed. BTC has a limit, (sadly) paper is limitless.

i think its true, bitcoin is not make bank disappear. as long as fiat still available among us, then bank will not disappear, but if finally bitcoin is integrated with bank and bank use blockchain technology for some reason, and decide to not use fiat anymore, then i think bank will still exist because there are many people still want to use bank, but bank here its not the same as bank as we know for now.

8Habits

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Quote from: mammabitcoin2u on September 27, 2016, 12:40:20 AM

Bitcoin cannot make banks disappear. It CAN and is becoming a high competitor/alternative to fiat. Reason banks cannot disappear is paper money/fiat has to be printed and can be printed. BTC has a limit, (sadly) paper is limitless.

That is correct, fiat money paper is limitless and when the government decide on making more paper fiat money, they are creating inflation in the economy but they can really do that compared to bitcoins wherein it will stop producing once it reach 21 million bitcoins. Hence, bank will always be there as long as there are fiat money being made and printed.

Bitcoin0916

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Quote from: mammabitcoin2u on September 27, 2016, 12:40:20 AM

Bitcoin cannot make banks disappear. It CAN and is becoming a high competitor/alternative to fiat. Reason banks cannot disappear is paper money/fiat has to be printed and can be printed. BTC has a limit, (sadly) paper is limitless.

Yes I agree, bitcoin never make banks disappear but for reduce some transactions maybe yes. We still need banks anytime and anywhere

mammabitcoin2u

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Bitcoin cannot make banks disappear. It CAN and is becoming a high competitor/alternative to fiat. Reason banks cannot disappear is paper money/fiat has to be printed and can be printed. BTC has a limit, (sadly) paper is limitless.

hurain

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i think banks cannot make banks disappear, because banks are so strong that it is not possible in present time to disappear banks, because bitcoin still need so many hard world to become so popular that people start using bitcoin instead of fiat currency.

momochang

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I believe it will in the future.

Indrawan77

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Quote from: springgers on September 26, 2016, 10:03:34 PM

Quote from: boyptc on September 26, 2016, 08:26:28 PM

Quote from: Bitcoinbro on September 26, 2016, 03:00:56 PM

Banks got too much influence to dissapear. They are on the sidelines fighting to stop bitcoin's trend. First claiming bitcoin as their enemy but now launching their own blockchain solutions. So yeah with them being so influential I doubt bitcoin can make them dissapear.

Banks are now getting scared that they have a threat and they can see it to bitcoins. And if they aren't going do something about it for sure many clients of the banks are going to shift into using bitcoins. But the chance of making banks disappear by bitcoin is not going to happen. Because the government is not going to allow that.

If banks are scared about Bitcoin, you already know what they wanna do, right?
They will create a altcoin and put the world in the pocket, that's all.
And yeah, governments can ban Bitcoin.

I dont think bank need to be scared of bitcoin, bank also has a lot of advantage that can't be given by bitcoin,for example the insurance of your money when the bank collapse, and if you are being scammed you still bank still can help you traced, and bitcoin will never be able to replace bank

springgers

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Quote from: boyptc on September 26, 2016, 08:26:28 PM

Quote from: Bitcoinbro on September 26, 2016, 03:00:56 PM

Banks got too much influence to dissapear. They are on the sidelines fighting to stop bitcoin's trend. First claiming bitcoin as their enemy but now launching their own blockchain solutions. So yeah with them being so influential I doubt bitcoin can make them dissapear.

Banks are now getting scared that they have a threat and they can see it to bitcoins. And if they aren't going do something about it for sure many clients of the banks are going to shift into using bitcoins. But the chance of making banks disappear by bitcoin is not going to happen. Because the government is not going to allow that.

If banks are scared about Bitcoin, you already know what they wanna do, right?
They will create a altcoin and put the world in the pocket, that's all.
And yeah, governments can ban Bitcoin.

milewilda

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Quote from: boyptc on September 26, 2016, 08:26:28 PM

Quote from: Bitcoinbro on September 26, 2016, 03:00:56 PM

Banks got too much influence to dissapear. They are on the sidelines fighting to stop bitcoin's trend. First claiming bitcoin as their enemy but now launching their own blockchain solutions. So yeah with them being so influential I doubt bitcoin can make them dissapear.

Banks are now getting scared that they have a threat and they can see it to bitcoins. And if they aren't going do something about it for sure many clients of the banks are going to shift into using bitcoins. But the chance of making banks disappear by bitcoin is not going to happen. Because the government is not going to allow that.

I would disagree, banks are not threatened on the existence of bitcoin since they are somehow assured that people would really use their services and in fact banks are just storage and bitcoin is just a digital currency which theres no sense for it to make banks would disappear. One thing is for sure government wouldnt allow this thing to happen.

boyptc

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Quote from: Bitcoinbro on September 26, 2016, 03:00:56 PM

Banks got too much influence to dissapear. They are on the sidelines fighting to stop bitcoin's trend. First claiming bitcoin as their enemy but now launching their own blockchain solutions. So yeah with them being so influential I doubt bitcoin can make them dissapear.

Banks are now getting scared that they have a threat and they can see it to bitcoins. And if they aren't going do something about it for sure many clients of the banks are going to shift into using bitcoins. But the chance of making banks disappear by bitcoin is not going to happen. Because the government is not going to allow that.

universe_

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Quote from: JessicaSe on September 20, 2016, 12:19:08 PM

Quote from: BitFinnese on September 19, 2016, 01:15:43 PM

Quote from: dhimasnk on September 19, 2016, 03:14:41 AM

I also agree with you all. bitcoin might not make disappear the bank, because the bank is a financial institution that is essential for the international economy

We share the same thought, banks will never disapper even if bitcoin become international currency. The reason is that bank isn't for money storage alone. Banks are also used to store precious metal or delicate documents which is locked inside it's vault. So even if Bitcoin control the currency, bank will simply find its way to adopt in the situation and taking advantage and earning out of it.

We don't see any strong reason behind bitcoin replacing banks, as bitcoin is too small in compare to banks and banks holds support from the society and Government, where people don't have much faith in bitcoin.

well yeah right now there is no reason for banks to be replaced by bitcoins though in the future it is still possible

Bitcoinbro

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Banks got too much influence to dissapear. They are on the sidelines fighting to stop bitcoin's trend. First claiming bitcoin as their enemy but now launching their own blockchain solutions. So yeah with them being so influential I doubt bitcoin can make them dissapear.

8Habits

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Quote from: Labumi on September 26, 2016, 07:36:09 AM

Quote from: peta4e on September 26, 2016, 07:31:32 AM

Quote from: maudevang on September 26, 2016, 07:17:21 AM

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.

Bitcoin may not make banks disappear completely in future but it can surely reduce the number of customers of banks, as when people will get aware about bitcoins they may switch to bitcoins keeping banks behind.

Yup it will most probably happen in the future, if indeed the bitcoin replaced the position of how transactions and also the storage too expensive if done in the bank. all of this will be something quite difficult for the bank, but I believe that the bank will remain standing. Because the bank is the agency controlling the circulation of money is there in the world and they are very important for this

I really don't think so. Why? Because bitcoins cap is just 21 million bitcoins and once we reach that amount, there will be no more bitcoins to produce. Hence, fiat money will still be here in the future and so with banks. We must look at bitcoin as an alternative to fiat money in our online transactions and other uses of bitcoins.

Labumi

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Quote from: peta4e on September 26, 2016, 07:31:32 AM

Quote from: maudevang on September 26, 2016, 07:17:21 AM

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.

Bitcoin may not make banks disappear completely in future but it can surely reduce the number of customers of banks, as when people will get aware about bitcoins they may switch to bitcoins keeping banks behind.

Yup it will most probably happen in the future, if indeed the bitcoin replaced the position of how transactions and also the storage too expensive if done in the bank. all of this will be something quite difficult for the bank, but I believe that the bank will remain standing. Because the bank is the agency controlling the circulation of money is there in the world and they are very important for this

peta4e

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Quote from: maudevang on September 26, 2016, 07:17:21 AM

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.

Bitcoin may not make banks disappear completely in future but it can surely reduce the number of customers of banks, as when people will get aware about bitcoins they may switch to bitcoins keeping banks behind.

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