Can Bitcoin make Banks disappear? - page 228.

8Habits

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Quote from: krishna1 on September 03, 2016, 12:26:21 PM

Banks have the unionship and a organization so they has a very very strong base and bitcoin is new but is very impressive consept but it needs a lot of effert to disapper banks because they have not used all their attacks and defences till now

Bitcoin is not designed to eradicate banks. It offers itself as an alternative for fiat money in online transactions (which get rid of some government regulations to fiat monies) Bitcoin is just an alternative with many cool features that makes people fall in love with it like gold.

I don't think so that banks will disappear because of bitcoin - I do believe that they can co-exist and can live without the other.

krishna1

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Banks have the unionship and a organization so they has a very very strong base and bitcoin is new but is very impressive consept but it needs a lot of effert to disapper banks because they have not used all their attacks and defences till now

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Quote from: umhhppp on September 03, 2016, 12:18:58 PM

I don't think so, I think bitcoin and banks can coexist together to an extent, The current financial system needs banks to fund businesses and the people get interest in return, I think sometime in the future there can be bitcoin banks as well "I'm talking about real banks not the typical get-rich-quick schemes".

Banks are not going anywhere in fact they will become more stronger in future and will provide some advanced features and services to its customers so they don't switch to something else.

umhhppp

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I don't think so, I think bitcoin and banks can coexist together to an extent, The current financial system needs banks to fund businesses and the people get interest in return, I think sometime in the future there can be bitcoin banks as well "I'm talking about real banks not the typical get-rich-quick schemes".

CroSany

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Did dollars make banks disappear?

Hmm.. valuable assets are going to - stop people from being interested in financial services? Huh?

Not sure where to go with this one. Too broken from the start.

Oh wait I know, you are thinking that "bank" is a word that means "counterfeiter". In this case, sure, bitcoin will be a thorn in their side as it can't be counterfeit. But there will always be counterfeiters. Count on it. They will just make other things.

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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.

Gaswuwade

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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.

Nivir

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Big no. But banks will soon promote and will be circulating cryptocurrencies anywhere. Those banks that cannot adopt the new trend get closed. Wink

Abbybenson

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No I don't think so. Bitcoins is more like anonymous money where as banks provide their services on your identity. Banks are more important than the bitcoins for people that are not doing online business. You can't find the person by their wallet address but you can find person by their bank account number. So all in all that just can't happen.

Senor.Bla

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Quote from: lakisis on September 03, 2016, 02:26:27 AM

Yes bitcoin can be disappear bank and i am sure it will happen sooner in the near future and then bitcoin will be get more powerful and all people will be get awareness about bitcoin and then all people will be adopting bitcoin.

no, because banks are offering services that bitcoin can not provide. can bitcoin deposit some real world goods for you in a safe place like a deposit box can? banks usually offer more than only the service to keep your money and transfer it for you.

lakisis

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Yes bitcoin can be disappear bank and i am sure it will happen sooner in the near future and then bitcoin will be get more powerful and all people will be get awareness about bitcoin and then all people will be adopting bitcoin.

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Quote from: madwica on August 31, 2016, 09:33:14 PM

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

Your opinion is wrong, fiat will never replace by any crypto currency even bitcoin will go huge its value in the future USD will remain as USD never been destroy, and bank still bank, why do you say that bitcoin can destroy dollar that two has different world. crypto and fiat will never compare mate.

I agree that bitcoin will not able to replace banks and as well as USD as of these days. Because the people are not yet recognized bitcoin at all. That is why bitcoin still needs to have a mass adoption at all and once that adoption already happened. Then the people are going to have enough knowledge about bitcoin and possibly it can now be more popular than USD and banks.

madwica

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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

Your opinion is wrong, fiat will never replace by any crypto currency even bitcoin will go huge its value in the future USD will remain as USD never been destroy, and bank still bank, why do you say that bitcoin can destroy dollar that two has different world. crypto and fiat will never compare mate.

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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

Nothing in the world can "destroy" the US Dollar beside the US government itself. Only they have the power to replace the US Dollar with whatever "better" alternative they come up with. What's so hard about this to understand? This isn't rocket science.

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

Doamader

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Quote from: takingthis4 on August 31, 2016, 08:02:14 AM

Quote from: Kungfu45 on August 31, 2016, 01:54:13 AM

Certainly it will not happen anytime soon, BTC is a currency of the future but taking over place of the real currency of the world that is pretty structured currently won't be a short-term project if BTC could overthrow fiat at anytime owner wishes.

you are right though in a few decades in my opinion the price of the bitcoin is going to grow and the banks might be replaced for sure

Banks will keep providing their services, the big difference over the years should be that it will become more digital, allowing you to request a loan from your phone, and make all transactions at home without need no one to guide you. Bitcoin its too smal to even be a threat to banks, they control fiat, and they have country support.

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Quote from: Bestwishes745 on August 28, 2016, 05:57:16 AM

Quote from: hendra147 on August 25, 2016, 09:51:24 PM

Quote from: PieCrafted on August 25, 2016, 08:50:05 AM

People lose more money every year stored in their bank accounts and atms as compared to Bitcoins, the only bitcoins that get stolen are because of either carelessness in handing private keys or investing in scams.

i think no people lost his money in bank, it's just lower interest if we compared with bitcoin interest (rising price).
but i think not all people who stored his money at bitcoin get interest, growing his money, some people who buying bitcoin in $700 and hold it, now lose arround 20% of his money.

I agree with your first sentence that earnings from bitcoin is more higher than the interest from banks, I also have my money in bitcoin instead of bank for that reason.
And in your second sentence, it is true that some people have lost their money when they bought them at $700 and after a month saw the price at $600 and $580 etc, but if they hold for more longer they can recover their loss and if they know about trade then they can start trade and can recover their loss sooner.

Yes, some people just get unlucky and worry about losing too much and sell at the wrong time. It because these are just average people that don’t know are to even slightly predict when a rise or drop is going to occur.

But at least with bitcoin you will be able to trade and get chances to make money. But banks only sweep money from people. If many people realize about the true nature of banks and true benefits of bitcoin, then banks will disappear for sure.

takingthis4

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Quote from: Kungfu45 on August 31, 2016, 01:54:13 AM

Certainly it will not happen anytime soon, BTC is a currency of the future but taking over place of the real currency of the world that is pretty structured currently won't be a short-term project if BTC could overthrow fiat at anytime owner wishes.

you are right though in a few decades in my opinion the price of the bitcoin is going to grow and the banks might be replaced for sure

stromma44

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Quote from: Noctis Connor on August 31, 2016, 07:49:29 AM

Quote from: Kungfu45 on August 31, 2016, 01:54:13 AM

Certainly it will not happen anytime soon, BTC is a currency of the future but taking over place of the real currency of the world that is pretty structured currently won't be a short-term project if BTC could overthrow fiat at anytime owner wishes.

Yes it will not happen because banks are in longterm now where people are using it everyday for their saving money and for their monthly salary banks are famous where many people are using , but in bitcoin , bitcoin is not that famous and some countries bitcoin are banned because their goverment dont want this currency

May be in future we will see more countries going against bitcoin, as they are well aware that bitcoin is an threat to banking system and if Government is corrupted then they will not allow bitcoin to enter their country.

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Quote from: Kungfu45 on August 31, 2016, 01:54:13 AM

Certainly it will not happen anytime soon, BTC is a currency of the future but taking over place of the real currency of the world that is pretty structured currently won't be a short-term project if BTC could overthrow fiat at anytime owner wishes.

Yes it will not happen because banks are in longterm now where people are using it everyday for their saving money and for their monthly salary banks are famous where many people are using , but in bitcoin , bitcoin is not that famous and some countries bitcoin are banned because their goverment dont want this currency

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