Can Bitcoin make Banks disappear? - page 222.

Bameras

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Quote from: boyptc on September 16, 2016, 11:04:00 PM

I do not think that will happen anytime soon. In the current world economy, banks are the foundation of money in general, and when I say money in general I refer to fiat money. But the things, of course, can change a lot with time...

Well it is not going to happen either because banks are really stable for a long time for almost centuries. They are already in the economy and they are contributing big part for the wealth of the country. So if bitcoin is going to make the banks disappear then that is going to be a big loss for a government but I don't think banks are able to make bitcoin disappear too.

The bitcoin will not make the banks disappear. The banks can use the bitcoin instead of the fiat, and reduce running cost.

boyptc

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Quote from: ?? on ??

I do not think that will happen anytime soon. In the current world economy, banks are the foundation of money in general, and when I say money in general I refer to fiat money. But the things, of course, can change a lot with time...

Well it is not going to happen either because banks are really stable for a long time for almost centuries. They are already in the economy and they are contributing big part for the wealth of the country. So if bitcoin is going to make the banks disappear then that is going to be a big loss for a government but I don't think banks are able to make bitcoin disappear too.

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Quote from: ?? on ??

I do not think that will happen anytime soon. In the current world economy, banks are the foundation of money in general, and when I say money in general I refer to fiat money. But the things, of course, can change a lot with time...

It is really impossible that bitcoin is going to phase out the use of banks. Even they are going to be famous and used by majority of the people in the world there is soon to be a bitcoin bank and that is going to be under the blockchain management. So still they are going to be considered as banks but managing bitcoins. Cheesy

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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?

They'll "evolve", if bitcoin goes mainstream they'll adapt to it, nothing special. Bank will never disappear Wink

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Quote from: utkarshm on September 16, 2016, 11:22:45 AM

Quote from: Rostadom on September 16, 2016, 09:38:08 AM

I don't think Bitcoin can make banks disappear. Banks hold fiat and there are people who would rather die than embrace the idea of Bitcoin. Those people would keep the banks alive. Also, not everyone of us likes using the Internet or the technology itself. Some people just like sticking with what he/she have been using ever since. They simply don't want change.

Yes right there is no way that i could think that bitcoin could ever makes banks disappear,they both are completely differents things.Bitcoin can become really very popular in future but still to hold your cash or fiat money you need banks,its not possible in bitcoin wallets.So i also dont think that this could ever happen.

yes you are right, in fact I think both would be good if work together, or the bank adopted a bitcoin and this would be a great advantage for bitcoin, if the bank has adopted bitcoin. so I think bitcoin will not be able to disappear the bank, even bitcoin will needs the banks in the future.

utkarshm

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Quote from: Rostadom on September 16, 2016, 09:38:08 AM

I don't think Bitcoin can make banks disappear. Banks hold fiat and there are people who would rather die than embrace the idea of Bitcoin. Those people would keep the banks alive. Also, not everyone of us likes using the Internet or the technology itself. Some people just like sticking with what he/she have been using ever since. They simply don't want change.

Yes right there is no way that i could think that bitcoin could ever makes banks disappear,they both are completely differents things.Bitcoin can become really very popular in future but still to hold your cash or fiat money you need banks,its not possible in bitcoin wallets.So i also dont think that this could ever happen.

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Quote from: teilwalL05 on September 16, 2016, 08:44:03 AM

I don't think so, since bank is the partner of my bitcoin wallet I think this is not good idea that banks will disappear. I can withdraw only my btc to my bank account.

same here its impossible that banks will disappear because we are using banks to withdraw bitcoins and convert it into fiat..
and they are perfect couple because we can easily transfer money to bitoin or bitcoin to money in the banks.

Milkduds

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Some of you may not be old enough to recall banks closing at 3:30pm on a Friday and people having to rush in to get their cheques into the bank or be screwed.
Likewise getting money for the weekend had to be done as well,then came the atm and at first people would gawk at it and use the teller instead. Some thought it was eliminating jobs and that type of thinking has sadly died off for faster and more efficient ways of doing business.
I bring this up because the banks have changed enough to keep pace,never exceeding but maintaining the slow steady path.
To think they are not actively looking into these new facets of doing business would be foolish,as the evidence of them tapping in to it is all around.
They may not be allowing it but they are dabbling in it behind the scenes till they have a way to protect their bottom line.

Banks like Prostitution will be around a tad bit longer.

bitlancr

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Quote from: bamboylee on April 02, 2016, 06:28:17 AM

We still need the bank to convert bitcoin to fiat. There are still merchandize we cannot buy thru bitcoin, so we need to convert. Without the bank, this cannot happen.

Yeah but when bitcoin becomes a main currency which you can use everywhere you have to imagine it like that.
Still I think they wouldn't let that happen banks have way too much money to let it get to the point where that money has no value. I don't think anything can beat banks by this points cause the world is run by them.

Rostadom

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I don't think Bitcoin can make banks disappear. Banks hold fiat and there are people who would rather die than embrace the idea of Bitcoin. Those people would keep the banks alive. Also, not everyone of us likes using the Internet or the technology itself. Some people just like sticking with what he/she have been using ever since. They simply don't want change.

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Quote from: randy8777 on September 16, 2016, 08:56:32 AM

Quote from: KFCBTC on September 16, 2016, 01:50:23 AM

im actually shocked sometimes at how many replies crazy threads get, it shows you where some investors heads are at...
we need fiat money, even if it becomes less important we will always need it some small way even in best case scenario for crypto, it would take thousands of years for it to fully replace and by which time something new may come along, like space cash

the majority of the people here are dreamers. banks and fiat are here to stay. and if at some point in the far future one of them will be replaced by something else, then it will come from the government.

Thats the reality even with bitcoin being and worthing more and getting more supporters, bitcoin cant offer the same services as banks, the lending system banks has its almost impossible to give such with bitcoin, did you imagined fund a loan for 40 years?

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Quote from: randy8777 on September 16, 2016, 08:56:32 AM

Quote from: KFCBTC on September 16, 2016, 01:50:23 AM

im actually shocked sometimes at how many replies crazy threads get, it shows you where some investors heads are at...
we need fiat money, even if it becomes less important we will always need it some small way even in best case scenario for crypto, it would take thousands of years for it to fully replace and by which time something new may come along, like space cash

the majority of the people here are dreamers. banks and fiat are here to stay. and if at some point in the far future one of them will be replaced by something else, then it will come from the government.

Yeah just experiencing bitcoin made them feel that it can do everything. It is not bad to dream but dont take it too far. There are some laws and rules that needs to be followed. Without it the world will be in chaos.

randy8777

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Quote from: KFCBTC on September 16, 2016, 01:50:23 AM

im actually shocked sometimes at how many replies crazy threads get, it shows you where some investors heads are at...
we need fiat money, even if it becomes less important we will always need it some small way even in best case scenario for crypto, it would take thousands of years for it to fully replace and by which time something new may come along, like space cash

the majority of the people here are dreamers. banks and fiat are here to stay. and if at some point in the far future one of them will be replaced by something else, then it will come from the government.

teilwalL05

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I don't think so, since bank is the partner of my bitcoin wallet I think this is not good idea that banks will disappear. I can withdraw only my btc to my bank account.

KFCBTC

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im actually shocked sometimes at how many replies crazy threads get, it shows you where some investors heads are at...
we need fiat money, even if it becomes less important we will always need it some small way even in best case scenario for crypto, it would take thousands of years for it to fully replace and by which time something new may come along, like space cash

iGotSpots

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No. Banks have been around for thousands of years and will continue to be institutions for off-person savings. Whether it is fiat or crypto they are responsible for is irrelevant

This question is basically asking if cereal bowls will become irrelevant just because you could eat it out of a hubcap. Sure there are other options, but sometimes one just makes more sense

drwtsn32

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Quote from: torrentheaven on September 14, 2016, 09:27:09 AM

Banks are the strongest financial institutions we have at a moment and comparatively the size of bitcoin is too small and the fact is people have more faith in banks and its difficult to change their mentality.

Ask some bitcoin veterans out there and they would still choose banks over bitcoin!
Because you know what? Banks will always be stronger and will get stronger over the years.

fatima zuhra

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although it is a fact that in future most of the people will be using bitcoin as it will be more convenient than fiat currency but still it cannot disappear fiat currency and so the important of banks can also be never ignore.

madwica

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Quote from: mark coins on September 14, 2016, 11:46:39 AM

Quote from: crairezx20 on September 14, 2016, 11:40:41 AM

I can't imagine that banks can be disappear because of bitcoin. it is impossible to happen because its more safe to use those banks than bitcoin. bitcoins still shady and anonymous so if i have a chance to choose i will stay in bitcoin.

According to your statement you believe that banks are more safer then bitcoin but you will still choose bitcoin, how? Or you mean to say that you will use both to take benefits from both of them.

according to him bank is much safer to put your money but he want also to choose bitcoin to used haha, but for me i believed that bitcoin will continuous dominate the crypto world and also the value will increase. And Bank still remain as bank.

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Quote from: crairezx20 on September 14, 2016, 11:40:41 AM

I can't imagine that banks can be disappear because of bitcoin. it is impossible to happen because its more safe to use those banks than bitcoin. bitcoins still shady and anonymous so if i have a chance to choose i will stay in bitcoin.

According to your statement you believe that banks are more safer then bitcoin but you will still choose bitcoin, how? Or you mean to say that you will use both to take benefits from both of them.

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