Can Bitcoin make Banks disappear? - page 227.

8Habits

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Quote from: utkarshm on September 04, 2016, 07:59:37 AM

No i don't see that happen in any time in future and I will say it's impossible to happen because we can not compare them.Bitcoin is a different thing all together,its a virtual currency and banks hold our fiat money and no matter how much popular bitcoins become in this world but they cannot replace banks.

Although banks can handle our money digitally without even using physical money in any transactions just like bitcoins, it is still not enough that bitcoin will replace current bank institutions of ours. As long as we are ruled by a government, banks (mostly owned by elite families of the societies) then it will continue to serve us for a longer period of time.

BlackPanda

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BANK has different strengths and advantages compared with Bitcoin. BANK has been guaranteed by the government and financial institutions are also official. for now I'm sure BANK has survived the onslaught of bitcoin strength.

chixka000

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Quote from: Nivir on September 04, 2016, 08:16:17 AM

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.

Bank is a financial establishment that invests money deposited by customers, pays it out when required, makes loans at interest, and exchanges currency. In other words, banks don't care if it is cryptocurrencies, currencies, a parcel of land, buildings etc for as long as it has reliable value that they can take advantage they will take it. Not to mention most bank owners didn't just own banks but also lots of business entities.

Absolutely , you've nailed it mate. As long as there is money that is going in and out from their banks which can bitcoin really do then i think that the bank would still try to consider it because it is good for their business.

Rahar02

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Quote from: 1Referee on September 03, 2016, 04:05:47 AM

Quote from: Gaswuwade on September 03, 2016, 03:54:41 AM

I doubt that will be the case at least in our current time, I think bitcoin can change the way money and economy works but banks are an established part of it, I think it would be more reasonable for bitcoin "banks" to appear sometime in the future when bitcoin is more mainstream.

Let's say Bitcoin does very well, and manages to reach 1% of the world population to adopt Bitcoin at some point, then still there are the other 99% where banks play a very important role in their life. Bitcoin won't even make a dent in the bank's way of doing business and how they exist. People must forget about that.

Banks has established around 8 centuries ago and still here until now with great foundation. I agree bitcoin can change the economy and how currencies works but won't replace banks because they could make a change to adoption bitcoin. Some banks will benefit from bitcoin, some will be pushed to the back end, and some will disappear. It may happen in 10-20 years for banks accept bitcoin and still depend on which country you stay because every country has the regulation.

Nivir

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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.

Bank is a financial establishment that invests money deposited by customers, pays it out when required, makes loans at interest, and exchanges currency. In other words, banks don't care if it is cryptocurrencies, currencies, a parcel of land, buildings etc for as long as it has reliable value that they can take advantage they will take it. Not to mention most bank owners didn't just own banks but also lots of business entities.

chixka000

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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.

utkarshm

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No i don't see that happen in any time in future and I will say it's impossible to happen because we can not compare them.Bitcoin is a different thing all together,its a virtual currency and banks hold our fiat money and no matter how much popular bitcoins become in this world but they cannot replace banks.

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Quote from: chixka000 on September 04, 2016, 07:21:48 AM

Quote from: Nivir on September 04, 2016, 07:13:46 AM

Quote from: chixka000 on September 04, 2016, 07:04:06 AM

Quote from: JumperX on September 04, 2016, 06:54:04 AM

Quote from: chixka000 on September 04, 2016, 06:49:30 AM

Quote from: Mr. Big on August 17, 2016, 01:34:22 AM

Quote from: tahirkhanmrd on August 16, 2016, 11:24:19 AM

i think yes it can if all the people stop using banks and use wallet for their money i think bank will disappear.

That's too much of a dream and "if"... Not all are into using bitcoin and if that would happen it will take more than this lifetime... One thing is for sure, bitcoin will be living along with banks and we can't convince all the people to use bitcoin alone...

I also do agree that is merely to impossible situation that people would stop using the banks. People is likely more comfortable with banks in my opinion especially if they have to idea about bitcoin wallet. Even if they do most of them still has doubts.

Banks will never disappear, bitcoin is not that strong that it can replace the strongest financial institution that hold great support and the trust from its customers.

Absolutely , even if bitcoin is a good crypto currency right now that dominates the market bitcoin is been in the industry for i think a decade or less? Unlike bank which is already there since people started to used money as the primary payment.

The best thing to happen is that banks and cryptocurrencies can work together. I imagine banks hosting there own wallets for its clients.

Me too i was also thinking the same idea. Instead of being against to each other it would be much better if they are going to work together as this would benefit in both bitcoin and bank users or wait i think also the owners.

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.

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I learnt about experts they're experts on fuck all

Banking is a huge business. If something or someone makes banks disappear then people will disappear with them. Do you want your relatives and friends to disappear? I don't think so.

chixka000

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Quote from: Nivir on September 04, 2016, 07:13:46 AM

Quote from: chixka000 on September 04, 2016, 07:04:06 AM

Quote from: JumperX on September 04, 2016, 06:54:04 AM

Quote from: chixka000 on September 04, 2016, 06:49:30 AM

Quote from: Mr. Big on August 17, 2016, 01:34:22 AM

Quote from: tahirkhanmrd on August 16, 2016, 11:24:19 AM

i think yes it can if all the people stop using banks and use wallet for their money i think bank will disappear.

That's too much of a dream and "if"... Not all are into using bitcoin and if that would happen it will take more than this lifetime... One thing is for sure, bitcoin will be living along with banks and we can't convince all the people to use bitcoin alone...

I also do agree that is merely to impossible situation that people would stop using the banks. People is likely more comfortable with banks in my opinion especially if they have to idea about bitcoin wallet. Even if they do most of them still has doubts.

Banks will never disappear, bitcoin is not that strong that it can replace the strongest financial institution that hold great support and the trust from its customers.

Absolutely , even if bitcoin is a good crypto currency right now that dominates the market bitcoin is been in the industry for i think a decade or less? Unlike bank which is already there since people started to used money as the primary payment.

The best thing to happen is that banks and cryptocurrencies can work together. I imagine banks hosting there own wallets for its clients.

Me too i was also thinking the same idea. Instead of being against to each other it would be much better if they are going to work together as this would benefit in both bitcoin and bank users or wait i think also the owners.

Nivir

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Quote from: chixka000 on September 04, 2016, 07:04:06 AM

Quote from: JumperX on September 04, 2016, 06:54:04 AM

Quote from: chixka000 on September 04, 2016, 06:49:30 AM

Quote from: Mr. Big on August 17, 2016, 01:34:22 AM

Quote from: tahirkhanmrd on August 16, 2016, 11:24:19 AM

i think yes it can if all the people stop using banks and use wallet for their money i think bank will disappear.

That's too much of a dream and "if"... Not all are into using bitcoin and if that would happen it will take more than this lifetime... One thing is for sure, bitcoin will be living along with banks and we can't convince all the people to use bitcoin alone...

I also do agree that is merely to impossible situation that people would stop using the banks. People is likely more comfortable with banks in my opinion especially if they have to idea about bitcoin wallet. Even if they do most of them still has doubts.

Banks will never disappear, bitcoin is not that strong that it can replace the strongest financial institution that hold great support and the trust from its customers.

Absolutely , even if bitcoin is a good crypto currency right now that dominates the market bitcoin is been in the industry for i think a decade or less? Unlike bank which is already there since people started to used money as the primary payment.

The best thing to happen is that banks and cryptocurrencies can work together. I imagine banks hosting there own wallets for its clients.

chixka000

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Activity: 910

Merit: 500

Quote from: JumperX on September 04, 2016, 06:54:04 AM

Quote from: chixka000 on September 04, 2016, 06:49:30 AM

Quote from: Mr. Big on August 17, 2016, 01:34:22 AM

Quote from: tahirkhanmrd on August 16, 2016, 11:24:19 AM

i think yes it can if all the people stop using banks and use wallet for their money i think bank will disappear.

That's too much of a dream and "if"... Not all are into using bitcoin and if that would happen it will take more than this lifetime... One thing is for sure, bitcoin will be living along with banks and we can't convince all the people to use bitcoin alone...

I also do agree that is merely to impossible situation that people would stop using the banks. People is likely more comfortable with banks in my opinion especially if they have to idea about bitcoin wallet. Even if they do most of them still has doubts.

Banks will never disappear, bitcoin is not that strong that it can replace the strongest financial institution that hold great support and the trust from its customers.

Absolutely , even if bitcoin is a good crypto currency right now that dominates the market bitcoin is been in the industry for i think a decade or less? Unlike bank which is already there since people started to used money as the primary payment.

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Quote from: marleybobthedog on September 04, 2016, 04:16:33 AM

No it's not possible because many countries already banned bitcoin because they think it's illegal so probably bitcoin gonna disappear if every country think that it's illegal to use and mine bitcoin. So they can make bank disappear.

not like that ! , today began many countries that understand the benefits of using bitcoin. several countries in East Asia even been regarded as one of the bitcoin digital currency official. bitcoin considered feasible par with paypal. with their bitcoin will certainly affect the conventional BANK. in my opinion, some users BANK will switch to using bitcoin wallet.

JumperX

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Quote from: chixka000 on September 04, 2016, 06:49:30 AM

Quote from: Mr. Big on August 17, 2016, 01:34:22 AM

Quote from: tahirkhanmrd on August 16, 2016, 11:24:19 AM

i think yes it can if all the people stop using banks and use wallet for their money i think bank will disappear.

That's too much of a dream and "if"... Not all are into using bitcoin and if that would happen it will take more than this lifetime... One thing is for sure, bitcoin will be living along with banks and we can't convince all the people to use bitcoin alone...

I also do agree that is merely to impossible situation that people would stop using the banks. People is likely more comfortable with banks in my opinion especially if they have to idea about bitcoin wallet. Even if they do most of them still has doubts.

Banks will never disappear, bitcoin is not that strong that it can replace the strongest financial institution that hold great support and the trust from its customers.

chixka000

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Activity: 910

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Quote from: Mr. Big on August 17, 2016, 01:34:22 AM

Quote from: tahirkhanmrd on August 16, 2016, 11:24:19 AM

i think yes it can if all the people stop using banks and use wallet for their money i think bank will disappear.

That's too much of a dream and "if"... Not all are into using bitcoin and if that would happen it will take more than this lifetime... One thing is for sure, bitcoin will be living along with banks and we can't convince all the people to use bitcoin alone...

I also do agree that is merely to impossible situation that people would stop using the banks. People is likely more comfortable with banks in my opinion especially if they have to idea about bitcoin wallet. Even if they do most of them still has doubts.

Noctis Connor

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Quote from: shugareward on August 31, 2016, 05:56:29 PM

it surely can, in my opinion bitcoin is going to become really huge and it will destroy the usd soon

If the usd will destroy then bitcoin will destroy too? because bitcoin are depending on USD where the bitcoin has a price and bitcoin can't make banks disappear because for me banks are in the long run now where people are choosing banks where they are going to deposit there money Grin

marleybobthedog

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No it's not possible because many countries already banned bitcoin because they think it's illegal so probably bitcoin gonna disappear if every country think that it's illegal to use and mine bitcoin. So they can make bank disappear.

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Quote from: takingthis4 on September 04, 2016, 03:33:14 AM

Quote from: erickkyut on September 04, 2016, 01:55:48 AM

Bitcoin is bitcoin and banks are banks! They are two different entities! There's no way bitcoin can replace banks!

thats true, but in my opinion banks are always going to be worse than bitcoins because bitcoins is a perfect currency that is decentralised

but bank have a great security system to protect customer database, also in bank transaction we just need 1second (1click), not like bitcoin we must waiting 1confirmation for trusting each transaction.

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Quote from: erickkyut on September 04, 2016, 01:55:48 AM

Bitcoin is bitcoin and banks are banks! They are two different entities! There's no way bitcoin can replace banks!

thats true, but in my opinion banks are always going to be worse than bitcoins because bitcoins is a perfect currency that is decentralised

erickkyut

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Bitcoin is bitcoin and banks are banks! They are two different entities! There's no way bitcoin can replace banks!

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