Topic: Can Bitcoin make Banks disappear? - page 23. (Read 427614 times)
In my opinion as a newbie I think bitcoin wont make bank disapper because how can cash out our money if ever? I have heard that u need a certain bank to cash out. So instead of dis appearing maybe in the future there will be more bank especially if cryptocurrency will be the leading currency.
Banks will never be replaced by bitcoin. Government will never allow it. But banks will surely upgrade its technology.
Not the bitcoin but the blockchain technology will change the whole banking system. The Economy of a country is managed by the central bank. GOV will never allow any kind of technology to took over their current centralized system that could be harmful for any Gov. So there is no chance of disappearing banks.
Banks are already adopting with blockchain, they understand now that it's faster and more transparent but they do not really appreicatebitcoin but rather they have their own system integrated with blockchain, at least now we have a choice on what to use, as long as they will play
fair we can always enjoy using bitcoin.
Not the bitcoin but the blockchain technology will change the whole banking system. The Economy of a country is managed by the central bank. GOV will never allow any kind of technology to took over their current centralized system that could be harmful for any Gov. So there is no chance of disappearing banks.
I do not think bitcoin will make the banks disappear, but it may make the banks evolve, but they will not disappear. For me, both Bitcoin and the banks will always exist. Many people rely on banking services which Bitcoin can not provide.
I don’t think so, but will take a long year before it makes bitcoin makes banks disappear if the entire county all over the world accept the bitcoin it will makes banks disappear. IF people still need a paper money, then world need banks.
Bank will always produce paper money as majority cannot live with just online currency only, it's very burdensome to themespecially to those who just want a simple life and those who are not educated to use computers.
Maybe we have to be realistic and think that both are beneficial to all, so let's hard both paper and online to remain.
In Bitcoin's current state, I don't think it has the power to eliminate banks since it turns out that banks now have the cheaper transaction fees as well as faster processing time.
Altcoins have fixed issues with transaction fees. Most alts lately dont even have transaction fees or have super negligible fees
Bitcoin make banksa disappear,it is better than bank.bitcoin is not handling by the government,we can make transactions anytime and anywhere.transaction fees also lower than banks.
Thanks to Bitcoin we can become our own banks, we don't have to trust any third party. You can even run your own node if you don't trust anyone in the network. It will take some time before people will learn the benefits of owning your private keys. Probably, they will be always web wallets because not every person is capable of securing money on their own. Also, even if less people would use "crypto banks", someone still have to give loans.
I don't think bitcoin is near of replacing or removing the banks. Removing banks could potentially ruin the economy as the stock market and the exchange still rely on the banks.
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?
"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?
Yes,maybe soon bitcoin can make the banks dissapear,if this the legacy of digital currencey will continue to moves on,until that the time bitcoin become legal and the government make all the transaction in cryptocurrency centralized.because in digital currency you can gain a huge profit compare to the mother bank that you can earn only a penny cents to your capital,because banks is a long term investment.so mostly people will choose bitcoin investment because of its given profit compare in the banks, so that the time banks will constantly faded and totally diminished.
I don’t think so, but will take a long year before it makes bitcoin makes banks disappear if the entire county all over the world accept the bitcoin it will makes banks disappear. IF people still need a paper money, then world need banks.
why do banks disappear? let them be. There will always be people for banks, and some bitcoins.
Bank will never disappear because bank are not illegal bank are working legally but Bitcoin is not legal it is illegal countrys are not accepting Bitcoin. It's impossible.
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?
bitcoin not made to be global paying so it can’t make banks disappear. but blockchain will change world and can replace banks in future."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?
when people find other way to send money will stop using banks
Is not possible to disapper I cannot to see reason for that,bank is the most important financial institution in every country without banks economy cannot work.
Bitcoin was created to eliminate for all i know. Here in my country bitcoin becomes viral lately around the dail news. And even the central bank in our country was slightly spreading fake news. Maybe they are threaten already with the idea of bitcoin. But i don't think that the bank will completely be vanish. They are scared because it will lessen their investors.
I don't think bitcoin can make banks disappear. Banks would prevent that to happen either by competing with bicoin or adjusting its system to cope with bitcoin. They may even see it as an oppurtunity to upgrade their system.
No this will never happen in my eyes because the fact is that the banks are way too big compared with the bitcoin. I even think it will most likely be the opposite.
for bitcoins it is very difficult to make the banks disappear, because the price of bitcoins is still dependent on real currencies, and if the banks disappear because of bitcoins, it will be our new currency, and this is not a good idea, because it does not have a stable price and it can not be the same as fiat.
I think it's hard to see that there is still a problem with the amount of money transferred and the number of transfers that are processed per second, so the bank doesn't have a attaches great importance to btc.
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