Can Bitcoin make Banks disappear? - page 234.

greBit

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Quote from: bitlancr on August 17, 2016, 03:44:54 PM

Bitcoin's role in the financial world is very slim, there is no way a currency can compete with banks, nor is it intend to do so.
Bitcoin should focus on online payments and outcompete paypal.

Bitcoin has an potential to replace all payment methods in future, as it still very new to many people and once people gets aware about it I am sure they will start using it at least for online shopping and online transfers.

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Quote from: BitHodler on August 17, 2016, 03:48:01 PM

Quote from: bitlancr on August 17, 2016, 03:44:54 PM

Bitcoin's role in the financial world is very slim, there is no way a currency can compete with banks, nor is it intend to do so.
Bitcoin should focus on online payments and outcompete paypal.

Bitcoin is just an alternative currency that is here to serve people in need of such a tool.

Glad someone realizes that and agree that there is absolutely no need for Bitcoin to compete with banks.

Also, I think it's just a matter of a few years before Bitcoin surpasses PayPal in everything this company stands for.

Bitcoin and banks is not the same thing and there is no competition in this I do not see. Most competitors will exchange bank. Although today the exchange traded currencies around the world, and it does not prevent banks exist too.

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Quote from: bitlancr on August 17, 2016, 03:44:54 PM

Bitcoin's role in the financial world is very slim, there is no way a currency can compete with banks, nor is it intend to do so.
Bitcoin should focus on online payments and outcompete paypal.

Bitcoin is just an alternative currency that is here to serve people in need of such a tool.

Glad someone realizes that and agree that there is absolutely no need for Bitcoin to compete with banks.

Also, I think it's just a matter of a few years before Bitcoin surpasses PayPal in everything this company stands for.

bitlancr

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Bitcoin's role in the financial world is very slim, there is no way a currency can compete with banks, nor is it intend to do so.
Bitcoin should focus on online payments and outcompete paypal.

Bestwishes745

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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...

and agree with you and will like to add that bitcoin is a currency and not an organization/institution which will organize our financial matters and which will maintain our business financially , bitcoin is a currency and I think it itself need a banking system.

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Quote from: purebitco on August 17, 2016, 08:41:00 AM

Quote from: rio3233 on August 17, 2016, 01:44:09 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...

Yes, bitcoin can go along together with banks or maybe they can collaborate together and banks accept bitcoin. I think bitcoin can't make banks disappear.

to be honest it is impossible for them to go along, bitcoins are against cryptos because cryptos dont need banks and bitcoin might make banks disappear as people will just not need it

bitcoins are against cryptos? You mean banks are against crypto's, right?
That's not entirely true though. There are actually quite a lot of banks now that are developing platforms to integrate bitcoins into their system. I agree that there are banks that are skeptical in backdoor operations but in their defense, not all banks are like that. There are banks that are more mass-oriented.

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Quote from: rio3233 on August 17, 2016, 01:44:09 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...

Yes, bitcoin can go along together with banks or maybe they can collaborate together and banks accept bitcoin. I think bitcoin can't make banks disappear.

to be honest it is impossible for them to go along, bitcoins are against cryptos because cryptos dont need banks and bitcoin might make banks disappear as people will just not need it

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Quote from: gandame on August 17, 2016, 06:22:19 AM

That's hard to disappear because the bank still used by many people to keep their money . Bank is safer to use because the bank especially if you hold million. So far the bank can not changed to bitcoin because many still trust the banks than in bitcoin . I am not safe to use the online wallet might suddenly disappear. So if you have a big money deposit it in the bank.

Very true and there are this papers where you will be insured of your money. Here in bitcoin there is no insurance yet. So people like that. To feel safer and know that their money even if lost can be got back through insurance.

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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.

i don't agree with you mate because how if bitcoin will disappear soon ? or bitcoin will dicrease or drop the price range 200 - 100 dollar then many of investors are going to be mad , lets say YES many people are using bitcoin currency at the moment and most of that is investors because they using bitcoin currency to make invest and to grow their company , banks now is in the long run where people using it and they always choose banks account than bitcoin wallet or anything

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That's hard to disappear because the bank still used by many people to keep their money . Bank is safer to use because the bank especially if you hold million. So far the bank can not changed to bitcoin because many still trust the banks than in bitcoin . I am not safe to use the online wallet might suddenly disappear. So if you have a big money deposit it in the bank.

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Quote from: Ryananda on August 17, 2016, 04:48:08 AM

Bitcoin really can not make disappear the bank because the bank is very strong and dominated the economy. Bitcoin is still new so it must grow while banks have a perfect system and good security. Banks will tend to create their own systems and would not cooperate with bitcoin.

Bank is a financial institution that has many advantages when people and merchants use their services. Big businesses uses bank services too.

Bitcoin on the other hand is a currency. So no way a currency can make a bank dissappear since they have different purposes in every aspect.

needyou

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No. Bitcoin can't make banks dissapear. Real banks can dissapear, yes that's true but bitcoin won't be the cause that this will come about.

Ryananda

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Quote from: tygeade on August 17, 2016, 03:29:37 AM

Quote from: CoinFoxs on August 17, 2016, 02:49:27 AM

Quote from: rio3233 on August 17, 2016, 01:44:09 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...

Yes, bitcoin can go along together with banks or maybe they can collaborate together and banks accept bitcoin. I think bitcoin can't make banks disappear.

Well bitcoin will never replace banks, if it will happen then banks will start accepting bitcoin and do work together. Bitcoins are use in banks like other payments or currencies, so banks will not gonna replace by bitcoin or other currencies.

That is a fact that bitcoin can never replace banks but the other fact is banks will never start accepting bitcoins, they may adopt blockchain technology but banks supporting bitcoins seems to be impossible.

Bitcoin really can not make disappear the bank because the bank is very strong and dominated the economy. Bitcoin is still new so it must grow while banks have a perfect system and good security. Banks will tend to create their own systems and would not cooperate with bitcoin.

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Quote from: madwica on August 17, 2016, 03:32:09 AM

Quote from: JeffBrad12 on August 16, 2016, 08:11:16 PM

Quote from: greBit on August 16, 2016, 07:46:15 AM

I don't think banks are going anywhere, it will survive for sure and may be in future they will too start accepting bitcoins and both of them will coexist in future.

From where you are sure for the bank wanna to starting to accepting bitcoin in the future if in this time the bank wanna to adopt the blockchain system for making a better system rather than it. I never believe the bank will accept bitcoin until the future is coming.

But here in my country there are banks can encash and deposit money in exchange of bitcoin and that is what i like in the bitcoin wallet here in my country and i do not think bank will disappear because of bitcoin.

i think you are referring coins.ph right? because i commonly used that feature in adding and withdrawing funds on my account which is very helpful and really gives us convenience especially on bitcoin holders. Bank is just a storage of money no a currency itself .

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Quote from: JeffBrad12 on August 16, 2016, 08:11:16 PM

Quote from: greBit on August 16, 2016, 07:46:15 AM

I don't think banks are going anywhere, it will survive for sure and may be in future they will too start accepting bitcoins and both of them will coexist in future.

From where you are sure for the bank wanna to starting to accepting bitcoin in the future if in this time the bank wanna to adopt the blockchain system for making a better system rather than it. I never believe the bank will accept bitcoin until the future is coming.

But here in my country there are banks can encash and deposit money in exchange of bitcoin and that is what i like in the bitcoin wallet here in my country and i do not think bank will disappear because of bitcoin.

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Quote from: CoinFoxs on August 17, 2016, 02:49:27 AM

Quote from: rio3233 on August 17, 2016, 01:44:09 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...

Yes, bitcoin can go along together with banks or maybe they can collaborate together and banks accept bitcoin. I think bitcoin can't make banks disappear.

Well bitcoin will never replace banks, if it will happen then banks will start accepting bitcoin and do work together. Bitcoins are use in banks like other payments or currencies, so banks will not gonna replace by bitcoin or other currencies.

That is a fact that bitcoin can never replace banks but the other fact is banks will never start accepting bitcoins, they may adopt blockchain technology but banks supporting bitcoins seems to be impossible.

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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.

it will happen when 90% of world's population who using banks start using just bitcoin and leave banks.
but peoples will never do this.. only the bitcoin users who believe in bitcoin using bitcoin but the whole world never use this. at least in my opinion it is very hard. bitcoin need to grow and grow even more and more to replace banks one day.

x4

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Quote from: CoinFoxs on August 17, 2016, 02:49:27 AM

Quote from: rio3233 on August 17, 2016, 01:44:09 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...

Yes, bitcoin can go along together with banks or maybe they can collaborate together and banks accept bitcoin. I think bitcoin can't make banks disappear.

Well bitcoin will never replace banks, if it will happen then banks will start accepting bitcoin and do work together. Bitcoins are use in banks like other payments or currencies, so banks will not gonna replace by bitcoin or other currencies.

I agree with you mate, bitcoin will never replace banks, because bank is very different from bitcoin, all currency is accepted with banks from their respective country, but bitcoin is not, not all country accept bitcoin this time. But I don't think if they can work together with bank and bitcoin because banks also prefer to the idea of KYC(Know Your Customer) so because as one of the advantages of bitcoin is anonymity then you are slowly destroy bitcoin in that way. So bitcoin is only for bitcoin users, to those who loves the idea of anonymity and bank is for every people and every country.

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Quote from: rio3233 on August 17, 2016, 01:44:09 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...

Yes, bitcoin can go along together with banks or maybe they can collaborate together and banks accept bitcoin. I think bitcoin can't make banks disappear.

Well bitcoin will never replace banks, if it will happen then banks will start accepting bitcoin and do work together. Bitcoins are use in banks like other payments or currencies, so banks will not gonna replace by bitcoin or other currencies.

fkvidar

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Quote from: rio3233 on August 17, 2016, 01:44:09 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...

Yes, bitcoin can go along together with banks or maybe they can collaborate together and banks accept bitcoin. I think bitcoin can't make banks disappear.

Yup its hard to believe that bitcoin can make banks disappear in future, as bitcoin is too small in compare to banking system, and banks holds maximum number of satisfied users who have more faith in them.

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