Can Bitcoin make Banks disappear? - page 225.

stadus

legendary

Activity: 3080

Merit: 1292

Hhampuz for Campaign management

Quote from: ?? on ??

Quote from: Doamader on September 05, 2016, 08:09:12 PM

Quote from: ?? on ??

Quote from: danherbias07 on September 05, 2016, 07:33:33 PM

Quote from: Superways on September 05, 2016, 06:48:15 PM

Quote from: newcoins1978 on September 05, 2016, 02:55:04 AM

Quote from: Kate007 on February 15, 2016, 10:26:31 AM

I think it's possible theoretically only. People are not ready to stop using banks. Peer-to-peer system is like something mythical to them.

It is possible for Bitcoin to take over a bank but to be honestly think that the change of that happening are almost at zero.
The chance us bigger that Bitcoin would be taken over by a bank.

You are wrong as bank do not work only to save and transact our money , only in some duties bitcoin will replace banks while in all other duties which bans have will remain with banks and for that banks will survive.

Right. We people have different ways of thinking. Some are not open to this kind of idea. If you are a bank owner what would you prefer? Will it add some profit in me? What if's and a lot more questions will pop up.

Well of course for the people who are working in the banking industry they will not allow that they are going to be conquered by bitcoin. Because they
are going to lose their job if this is going to happen. But I think this is really impossible to happen or else the bank itself is going to adopt the bitcoin
to their service.

The people around banks arent worryed with bitcoin, because bitcoin is powerful but limited, some things you cant do without banks, do you able to get a loan of 40 years to buy a house with bitcoin? As i know the big loans requests are with 1 year, and there is no sure the person who took the loan will repay.

Well you have the point with it that is why banks are going to exist forever because they are the ones that people are depending more rather than with
bitcoin because those people doesn't even know bitcoin yet. And there is no agency in bitcoin that is going to lend you big amount of money just to buy your dream house / car unlike banks.

Some already have the idea about the existence of bitcoin because it is widely promoted in the internet but conventional mind of thinking of the people is they do not trust easily as there are a lot of scams in the internet, when bitcoin will not be back by the government will not be known to the people and they will still stick with the bank.

Ryan Dugan

hero member

Activity: 924

Merit: 501

I believe it is inevitable that bitcoin techknology will replace current banking formats. That's just how it works we advance as a race with technology and things change and we all adapt. Before we used paper money, before then it was gold.

Quote from: squatz1 on September 05, 2016, 08:16:20 PM

Banks will always be here to stay as they have pumped enough money into the US gov to be able to hold onto their impact on the US and the rest of the world.

They're too big to fail!

Together the ants will take down the elephant.

squatz1

legendary

Activity: 1666

Merit: 1285

Flying Hellfish is a Commie

Banks will always be here to stay as they have pumped enough money into the US gov to be able to hold onto their impact on the US and the rest of the world.

They're too big to fail!

Doamader

hero member

Activity: 756

Merit: 501

Quote from: ?? on ??

Quote from: danherbias07 on September 05, 2016, 07:33:33 PM

Quote from: Superways on September 05, 2016, 06:48:15 PM

Quote from: newcoins1978 on September 05, 2016, 02:55:04 AM

Quote from: Kate007 on February 15, 2016, 10:26:31 AM

I think it's possible theoretically only. People are not ready to stop using banks. Peer-to-peer system is like something mythical to them.

It is possible for Bitcoin to take over a bank but to be honestly think that the change of that happening are almost at zero.
The chance us bigger that Bitcoin would be taken over by a bank.

You are wrong as bank do not work only to save and transact our money , only in some duties bitcoin will replace banks while in all other duties which bans have will remain with banks and for that banks will survive.

Right. We people have different ways of thinking. Some are not open to this kind of idea. If you are a bank owner what would you prefer? Will it add some profit in me? What if's and a lot more questions will pop up.

Well of course for the people who are working in the banking industry they will not allow that they are going to be conquered by bitcoin. Because they
are going to lose their job if this is going to happen. But I think this is really impossible to happen or else the bank itself is going to adopt the bitcoin
to their service.

The people around banks arent worryed with bitcoin, because bitcoin is powerful but limited, some things you cant do without banks, do you able to get a loan of 40 years to buy a house with bitcoin? As i know the big loans requests are with 1 year, and there is no sure the person who took the loan will repay.

danherbias07

legendary

Activity: 3318

Merit: 1133

Leading Crypto Sports Betting & Casino Platform

Quote from: Superways on September 05, 2016, 06:48:15 PM

Quote from: newcoins1978 on September 05, 2016, 02:55:04 AM

Quote from: Kate007 on February 15, 2016, 10:26:31 AM

I think it's possible theoretically only. People are not ready to stop using banks. Peer-to-peer system is like something mythical to them.

It is possible for Bitcoin to take over a bank but to be honestly think that the change of that happening are almost at zero.
The chance us bigger that Bitcoin would be taken over by a bank.

You are wrong as bank do not work only to save and transact our money , only in some duties bitcoin will replace banks while in all other duties which bans have will remain with banks and for that banks will survive.

Right. We people have different ways of thinking. Some are not open to this kind of idea. If you are a bank owner what would you prefer? Will it add some profit in me? What if's and a lot more questions will pop up.

richardsNY

legendary

Activity: 1232

Merit: 1091

Quote from: PsursV on September 05, 2016, 04:55:12 PM

Quote from: Conus on September 05, 2016, 04:46:36 PM

More and more people are asking if this is what is going to happen and I keep telling them I do not think this will ever happen. As another member said, the banks are controlled by the government who wants their money. So unless the government starts hating money, I do not think this will happen in the near future.

i think it is too early to discuss such kind of issue

Honestly, there isn't an issue at all. People here just make it look like so. Bitcoin doesn't need, and can't replace banks. I don't even know why certain people would like to see such a thing. Bitcoin and banks can function together perfectly fine. Instead of choosing for one of the two sides, why not focus on what is the best for you? In some cases a bank will suit you better, and with other things Bitcoin will do it for you. No need to choose when you can use both.

Superways

hero member

Activity: 826

Merit: 502

Quote from: newcoins1978 on September 05, 2016, 02:55:04 AM

Quote from: Kate007 on February 15, 2016, 10:26:31 AM

I think it's possible theoretically only. People are not ready to stop using banks. Peer-to-peer system is like something mythical to them.

It is possible for Bitcoin to take over a bank but to be honestly think that the change of that happening are almost at zero.
The chance us bigger that Bitcoin would be taken over by a bank.

You are wrong as bank do not work only to save and transact our money , only in some duties bitcoin will replace banks while in all other duties which bans have will remain with banks and for that banks will survive.

PsursV

full member

Activity: 196

Merit: 100

Quote from: Conus on September 05, 2016, 04:46:36 PM

More and more people are asking if this is what is going to happen and I keep telling them I do not think this will ever happen. As another member said, the banks are controlled by the government who wants their money. So unless the government starts hating money, I do not think this will happen in the near future.

i think it is too early to discuss such kind of issue, and my personal view is that bitcoin cannot disappear banks, they will just work together because banks will accept bitcoin and then people will use banks for transaction and withdrawal of bitcoins.

Conus

full member

Activity: 236

Merit: 250

More and more people are asking if this is what is going to happen and I keep telling them I do not think this will ever happen. As another member said, the banks are controlled by the government who wants their money. So unless the government starts hating money, I do not think this will happen in the near future.

Blackmet

hero member

Activity: 854

Merit: 500

Bitcoin can be added to banks, but i don't believe that bitcoin can become that strong to make banks disappear, but we will see, just need to wait.

Universat

sr. member

Activity: 308

Merit: 250

Quote from: Braeron on September 05, 2016, 03:26:27 AM

Quote from: knightkon on September 04, 2016, 07:56:44 PM

Quote from: chixka000 on September 04, 2016, 08:03:42 AM

Quote from: stromma44 on September 04, 2016, 07:38:51 AM

That will never happen, banks will never support bitcoins as its an competitor to banks and banks may adopt blockchain technology in future but will never shake hands with bitcoins.

Nothing really is impossible. Lol is there any evidences that the bank would really not support bitcoin? If i am not mistaken i've seen some articles before that central banks are trying to know what is really blockchain's doing.

I have to disagree with these comments to an extent. Banks have the life span that we allow them to have. Take marijuana for an example: If you asked 20 years ago, would marijuana ever be legal in the United States, the answer would be no. Now that more and more of the baby boomers are moving into government positions, this will be changing for there is more information the older government would not allow us to know to try to rake the truth under the rug. Bitcoin is the same way. Government will be fighting this because a large number of investors have their money invested into the banks. This included the government itself. As more and more people who understand bitcoin move into office, the more changes will take place. You just have to give it time.

I dont think bitcoins can make bacnks dissappear because the banks dont want peope to use bitcoins because they only want cash and want that peopel are using cash and not that stupid coins,

i think banks have no concern with bitcoin in present time as there is no so much effect of bitcoin on bank recently, but i think in future banks will accept bitcoin for their own favour, because banks will provide wallet service to the people and will receive their service charges.

socks435

legendary

Activity: 2058

Merit: 1030

I'm looking for free spin.

It is impossible that bitcoin can disappear banks because those banks are good for savings safe.. unlike in bitcoin its still not the best to save our money in bitcoin. banks are still the best and safe to use..

katrimans

hero member

Activity: 882

Merit: 500

Quote from: 1Referee on September 05, 2016, 04:12:58 AM

Quote from: danishcookie on September 04, 2016, 09:06:55 PM

I t is very possible to replace bank, reasons:

3. some banks use blockchain service now.

First of all, it's impossible for Bitcoin to replace banks. Second, there is no bank using the blockchain technology yet. They are only researching the possibilities of it. That's far different from actually using it. Third, if banks every adopt the blockchain technology, then it will be their own version of the blockchain, and not the one from Bitcoin. Wink

That pretty much sums it up.
Although I am pretty sure not all banks would want to use a blockchain like system that has all the accounts / transactions publicized. There would be some banks that would be willing to do so, but not all the banks for sure as pseudo anonymous will not be preferred by all of them.

Digitalbitcoin

hero member

Activity: 1568

Merit: 502

No.

Not at all.

And I think it must not have to workout.

Bitcoin has its own circumstances. As well it needs connectivity. Bitcoin itself can be evaluated in fiat currency but it doen't means that bank will disappear.

Bank is need for local trade bcz in most countries all deals done with fiat currency.

And if we consider Bitcoin as bank can work with tier 1 or 2 countries bcz Tier 3 or below level countries dont have even strong internet connectivity.

Bitcoin itself is a protocol.

So it will never happen.

springgers

sr. member

Activity: 294

Merit: 251

Bitcoin has the potential to change how economy works, How we deal and use money, but I'm not sure about the bank system. I think it has advantages itself in funding the smaller merchants and giving relatively hassle-free interest to the depositor, I think there may be bitcoin banks in the future although that might affect the decentralization part of bitcoin.

saiha

hero member

Activity: 840

Merit: 501

Strength in Numbers

Quote from: ekoice on September 05, 2016, 06:45:05 AM

Banks will not disappear soon but when bitcoin usage reaches more people, usage of banks will become less. Banks will be used for only buying loans and not for money transactions.banks will suffer a huge loss in income

Well it is really impossible that bitcoin is going to make banks disappear as the banks are already there from so many years.

It is just going to be possible that bitcoin is going to make banks disappear if we are already on the cyborg era. Where people are already robot type.

And we are not going to need banks anymore by that time.

thejaytiesto

legendary

Activity: 1358

Merit: 1014

The battle between banks and bitcoin will be a huge one and will start in about 2018. The next 2 years are absolutely crucial and lots of things are going to start changing fast. After 2018, the 2020+ period will be when the real shit hits the fan.

funbarrel

sr. member

Activity: 394

Merit: 250

CryptoTalk.Org - Get Paid for every Post!

Quote from: partialist on September 04, 2016, 10:39:19 PM

Quote from: maxg on January 11, 2016, 09:45:41 PM

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?

Banks as WE know it may disappear, but banks generally will not disappear.

this is right
they will always exist, just less commonly used as the blockchain evolution continues.

of course bitcoins will exist forever and in my opinion in the future it is going to become only bigger and bigger and make us some decent profit

ekoice

hero member

Activity: 742

Merit: 500

Banks will not disappear soon but when bitcoin usage reaches more people, usage of banks will become less. Banks will be used for only buying loans and not for money transactions.banks will suffer a huge loss in income

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: danishcookie on September 04, 2016, 09:06:55 PM

I t is very possible to replace bank, reasons:

3. some banks use blockchain service now.

First of all, it's impossible for Bitcoin to replace banks. Second, there is no bank using the blockchain technology yet. They are only researching the possibilities of it. That's far different from actually using it. Third, if banks every adopt the blockchain technology, then it will be their own version of the blockchain, and not the one from Bitcoin. Wink

Topic: Can Bitcoin make Banks disappear? - page 225. (Read 427614 times)