Can Bitcoin make Banks disappear? - page 252.

groll

sr. member

Activity: 336

Merit: 250

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 with adaptive capacity and will in line and evolve to the cryptocurrency economy will surely survive and will continue its services. While those who will be left behind will going to disappear along with bankruptcy. Banks who will survive will focus more on lending rather than on savings. The power of banks will surely decrease.

boyptc

hero member

Activity: 3024

Merit: 680

★Bitvest.io★ Play Plinko or Invest!

Quote from: buddu on July 05, 2016, 03:34:27 PM

Bitcoin can not make banks disappear.Bitcoin is cost effective and offer decentralization with freedom of use than banks.the real problem is with its limited supply which can not handle universal demand.This is the reason banks took blockchain technology and preparing them for new eras challenges.Bitcoin will have central position in new co-exist system in future with banks.

I agree it is very hard for bitcoin to make the banks disappear. It is just going to be possible if the whole world is going to use bitcoin.
But as of today, that is very impossible thing to happen.

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Absolutely, Bitcoin (the currency/commodity) is primed and ready to take over banks (lending/savings institutions).

People that know absolutely nothing about finance

People that know absolutely nothing about math

People that know absolutely nothing about governments

People that know absolutely nothing about computers or software

Have a home with Bitcoin

buddu

hero member

Activity: 700

Merit: 500

Bitcoin can not make banks disappear.Bitcoin is cost effective and offer decentralization with freedom of use than banks.the real problem is with its limited supply which can not handle universal demand.This is the reason banks took blockchain technology and preparing them for new eras challenges.Bitcoin will have central position in new co-exist system in future with banks.

stadus

legendary

Activity: 3080

Merit: 1292

Hhampuz for Campaign management

Quote from: ardentvolcanoes on July 04, 2016, 09:56:40 AM

it is much impossible for bitcoin to make banks disappear because bitcoin price still relying on the real currencies and if banks will disappear because of bitcoin it would be our new currency and it is not a good idea because it doesn't have a stable price and it cannot be the same as the fiat .

If the bitcoin is a good transaction tool to cut the banking cost and make them more profit, the banks will use it.

serjent05

legendary

Activity: 3010

Merit: 1280

Get $2100 deposit bonuses & 60 FS

Bitcoin might be very popular someday, even be used by almost majority of computer literate people but I think Bitcoin don't have the power to make Banks disappear. Other than managing money. bank have different function that bitcoin can't do. Besides, bank is manage by intelligent professional people that can ride among waves of trending stuff. I bet this people will even manage to capitalize the great effect of Bitcoin to the society.

ardentvolcanoes

sr. member

Activity: 1050

Merit: 252

it is much impossible for bitcoin to make banks disappear because bitcoin price still relying on the real currencies and if banks will disappear because of bitcoin it would be our new currency and it is not a good idea because it doesn't have a stable price and it cannot be the same as the fiat .

Cyaren

sr. member

Activity: 294

Merit: 250

Banks will exists forever.
But the BTC already made a change,banks got into this buissness.
They wont disappear but im pretty sure you will can take credit for lets say 100k$ in bitcoins in few years.
That is cool for me,but banks will remain forever,thats our shitty world im afraid

Meuh6879

legendary

Activity: 1512

Merit: 1012

Quote from: Nowl1935 on June 25, 2016, 03:27:26 AM

because we all know that bank is more secure than bitcoins, and it's trusted by many people in this world.

remember how many debt they have created ?

How many ... in only 8 years ?

ImHacked

full member

Activity: 231

Merit: 100

It would never happen.Bitcoin is depending on dollar so it has no chance bitcoin making banks disappear in this days.

Meuh6879

legendary

Activity: 1512

Merit: 1012

Quote from: ayesha sadiqa on June 23, 2016, 04:12:26 PM

no i dont think that bitcoin can turn bank disappear.

in 2015, no.
in 2016, yes.

Why ?

Evolution, morpheus, like the dynosaurus ...

cluit

legendary

Activity: 1176

Merit: 1016

Quote from: harizen on June 25, 2016, 03:27:42 AM

Quote from: Corenin on June 25, 2016, 03:20:06 AM

Quote from: Sweetbtc on June 25, 2016, 03:17:01 AM

Quote from: sana9827 on June 23, 2016, 04:15:23 PM

I think that the bank is more important that the authorities , because they can rule fiat banking . In fact bitcoin bank should not , but people still need to get to the bank fiat after getting converted from a bitcoin. So now , the bank does not disappear , because bitcoin. In the future.

Bitcoin will make bank disappear in the near future but currently it need to be trusted and popular among majority of the population of the world.

Even if bitcoin gains huge popularity in future its impossible that it can make banks disappear, banks are trusted organizations and its not easy for people to quit banks and switch to bitcoins.

Example:

Most countries in African region will use bitcoin because bank are now dissapeared. That will include some of small banks designated to towns and capital. Now can anyone here who has a believe that bitcoin can dissapeared banks kindly explain how it will goes if people there will use bitcoin? Please remember that bitcoin is virtual, meaning it's components are present only in online.

I will wait.

It is possible that more people will use bitcoin in upcoming days. But it doesnt mean that it will make bank dissapear. People are getting much more facilities from bank than bitcoins. In my my view, both will stay with us to serve us.

boyptc

hero member

Activity: 3024

Merit: 680

★Bitvest.io★ Play Plinko or Invest!

Quote from: chineseprancing on June 25, 2016, 02:56:07 AM

my answer is no, Bitcoin wont destroy banks reputation, Bank owner will find a way to destroy bitcoin also. The banks will not be easily drag down by bitcoins

You are right, it will never make banks disappear. If the industry of banking system will be destroyed because of bitcoin then they are going to do
something just to destroy it's image.

opossum

hero member

Activity: 924

Merit: 1000

Quote from: harizen on June 25, 2016, 03:27:42 AM

Quote from: Corenin on June 25, 2016, 03:20:06 AM

Quote from: Sweetbtc on June 25, 2016, 03:17:01 AM

Quote from: sana9827 on June 23, 2016, 04:15:23 PM

I think that the bank is more important that the authorities , because they can rule fiat banking . In fact bitcoin bank should not , but people still need to get to the bank fiat after getting converted from a bitcoin. So now , the bank does not disappear , because bitcoin. In the future.

Bitcoin will make bank disappear in the near future but currently it need to be trusted and popular among majority of the population of the world.

Even if bitcoin gains huge popularity in future its impossible that it can make banks disappear, banks are trusted organizations and its not easy for people to quit banks and switch to bitcoins.

Example:

Most countries in African region will use bitcoin because bank are now dissapeared. That will include some of small banks designated to towns and capital. Now can anyone here who has a believe that bitcoin can dissapeared banks kindly explain how it will goes if people there will use bitcoin? Please remember that bitcoin is virtual, meaning it's components are present only in online.

I will wait.

That is the scenario only in African region, you cannot accept the same from across the globe as in Asian countries banks are the strongest financial institutions and cannot get replaced so easily.

renem

member

Activity: 112

Merit: 10

I don't think it can for now at least. Banks provide services for long years no matter what. Yes, banks are facing a really very tough competition from bitcoin at a moment, and they are aware if bitcoin gets on mainstream that would be an end of banking system and that's the reason they are not supporting bitcoins. I guess that would be a very long process. No bank will want to die because of bitcoin (which doesn't need any bank as you know). So i guess banks will just try to stop bitcoin from emerging further.

harizen

legendary

Activity: 3122

Merit: 1398

For support ➡️ help.bc.game

Quote from: Corenin on June 25, 2016, 03:20:06 AM

Quote from: Sweetbtc on June 25, 2016, 03:17:01 AM

Quote from: sana9827 on June 23, 2016, 04:15:23 PM

I think that the bank is more important that the authorities , because they can rule fiat banking . In fact bitcoin bank should not , but people still need to get to the bank fiat after getting converted from a bitcoin. So now , the bank does not disappear , because bitcoin. In the future.

Bitcoin will make bank disappear in the near future but currently it need to be trusted and popular among majority of the population of the world.

Even if bitcoin gains huge popularity in future its impossible that it can make banks disappear, banks are trusted organizations and its not easy for people to quit banks and switch to bitcoins.

Example:

Most countries in African region will use bitcoin because bank are now dissapeared. That will include some of small banks designated to towns and capital. Now can anyone here who has a believe that bitcoin can dissapeared banks kindly explain how it will goes if people there will use bitcoin? Please remember that bitcoin is virtual, meaning it's components are present only in online.

I will wait.

Nowl1935

full member

Activity: 224

Merit: 100

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?

I think Bitcoin cannot make banks disappear, because we all know that bank is more secure than bitcoins, and it's trusted by many people in this world. But bitcoin is a good currency if you want to make money, but don't compare it to bank, bank is different from bitcoin.

Corenin

legendary

Activity: 1008

Merit: 1000

Quote from: Sweetbtc on June 25, 2016, 03:17:01 AM

Quote from: sana9827 on June 23, 2016, 04:15:23 PM

I think that the bank is more important that the authorities , because they can rule fiat banking . In fact bitcoin bank should not , but people still need to get to the bank fiat after getting converted from a bitcoin. So now , the bank does not disappear , because bitcoin. In the future.

Bitcoin will make bank disappear in the near future but currently it need to be trusted and popular among majority of the population of the world.

Even if bitcoin gains huge popularity in future its impossible that it can make banks disappear, banks are trusted organizations and its not easy for people to quit banks and switch to bitcoins.

renem

member

Activity: 112

Merit: 10

all people agree that bitcoin will not make bank disappear,the only possible thing is bitcoin will compete banks,and it start happen in this year,but some event will decide how long and how far bitcoin will make bank feel awfull with bitcoin existence. Normal banks wont disappear because of bitcoin banks is a multi million dollar investment and government have shares in it,do you think that the governments would allow such thing to happen? I don't think banks are going to disappear soon perhaps 200 years from now . But if we have support and everyone start to use bitcoin in daily life issues bitcoin soon will make fiat disappear not banks alone .

Sweetbtc

hero member

Activity: 938

Merit: 503

👉bit.ly/3QXp3oh | 🔥 Ultimate Launc

Quote from: sana9827 on June 23, 2016, 04:15:23 PM

I think that the bank is more important that the authorities , because they can rule fiat banking . In fact bitcoin bank should not , but people still need to get to the bank fiat after getting converted from a bitcoin. So now , the bank does not disappear , because bitcoin. In the future.

Bitcoin will make bank disappear in the near future but currently it need to be trusted and popular among majority of the population of the world.

Topic: Can Bitcoin make Banks disappear? - page 252. (Read 427614 times)