Topic: Can Bitcoin make Banks disappear? - page 259. (Read 427614 times)

You are right, of course bank will not disappear, as it is more reliable and used by people especially for keeping our money. Since most of the people
doesn't know about bitcoin yet, so it is impossible for bitcoin to make the banks disappear.

bank can not disappear

it is more reliable

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I think bitcoin can not replace the banks as though a lot of convenience, but the banks are legally and get protection from the government so that the banks most legitimate. Almost impossible bitcoin could make banks disappear.

Indeed.  So can banking.

Banking has been a pleasing guise, a pallatable mask for the exploitative expropriation of capital from those without to those with. It has been achieved through very artful, disingenuous and clever means.

Credit will of course still be required in the future. Even a bitcoin future. However, crowdfunding is still a New Thing. Who knows how credit will be found in future years - but something tells me it will be raised in a way more meritocratic than it is today.

When bitcoin says "the Emperor is wearing no clothes", the Emperor, once the spell of hypnotic inertia has been broken, is going to have to find a new legitimation . Bitcoin will chrystallise the question, if you like.

Maybe a legitimation won't be sought - maybe force will be used instead. But this in itself will be an answer of sorts, and a move forward. At least it would be honest.


Bitcoin can only do what it can do. It can't cure cancer. It can't usurp the Queen of England if the people want to keep her. It can't make a silk purse out of a sows ear.
But lets not downplay what it can do - and lets keep on believing, and telling our friends and relatives about it, and about banking and QE and boom and bust and fractional reserve - cos bitcoin can achieve a lot.

Cryptograhers have very artful, disingenous and clever ways also - except theirs are now all open source  

I think yes because bitcoin has lower transanctiom fees than banks. And you can easily send and receive bitcoin to one another. Bitcoin don't need many requirements amd has no age restriction. Bitcoin is very easy and comfortable to use. Bitcoin can't be robbed by simple people. It will require much knowledge about bitcoin.

You may have noticed that bitcoin is already a bigger currency now, and the governments will make its usage difficult only if they noticed bulk curruption and crimes with that currency, but thanks God, bitcoin is not a thread for the world but a profit for all of us.

However bitcoin grows very high and gets more users, there will be certain percentage of people who depend only upon bank for their needs. So bitcoin replacing banks won't happen in the near or future.

for now I am not sure it will happen, people still need the banks of the bitcoin. because most of them do not know how to use and look for bitcoin, than the level of their confidence in the bitcoin too

Banks will implement their own block chain to keep track of accounting
   a) in fiat currency
   b) in allowing transactions vital to their business model which Bitcoin does not allow.

They may also deal Bitcoin as a commodity with its own rules, but it simply isn't compatible with their primary accounting goals, so they'll ignore it for those purposes.

For me ( all banks will disappear when they are "bankrup" if they start accept or work with bitcoins, bitcoin will increase and more banks will pretty sure will stay long like bitcoin if fiat comes to the point that has no use already not everyone using banks and im the one who not using banl saving accounts i always do when i cashout my bitcoin using egivecash no need to put any card to withdraw and for those banks that has already known or bignames in the world banks aren't going anywhere

I would like to see that happen, disappearing of banks sounds great. For me its hard to predict what will banks do about and with bitcoin but for sure they have some plans. What is for some bank couple million dollars,  they can came in the game when ever they wish, maybe they are in now who can tell?

That will never happen. That bitcoin will not make banks disappear even though it was popular. Because banks get strong legal protection, so it will be dealing with the government.

The chance is really small that it can disappear and that is because there are many people that is using their own payment method so that will be not possible.
Of course you see now that the Bitcoin will be more popular but it wont be that popular that it can disappear the banks.

I dont think that would happen not for now and not even in a hundred years. And that is only because of the many users of the bank. How would you survive if we dont even have a bank where we can store our gold. yes gold what would bitcoin be worth without gold yes exactly NOTHING.

Many representatives of the banks believe Bitcoin threatened the entire banking ecosystem, but there are those who are strong enough interest is the use of Bitcoin in the financial sector. For example, global banks: UBS, Citi Bank, Standard Chartered, and so on.
Actually, some banks are using or intend to use cryptocurrency.
Other banks are wary of the fact that the industry will undergo wrenching change. At this point, it seems that on the horizon you can see the two courses at the banking system.
 Banking institutions can start working in the new, ever-evolving areas of digital money. In this case, for a start they are required the recognition of changes in financial technology and the adoption of this concept.
Or, banks may continue to operate under the old system.

Yeah because bitcoin is a small dot threat to banks and it cannot really replace it because bank is the stronger economic  place where businessmans and government put their money and really it has great effect of economic  ups and downs and government had implemented strong economic law about it thats why bitcoin cannot really defeat banks in real life it just a myth.

But with sovereignty of the government bitcoin will hard time to make the banks disappear, and an economy will not move on the cycle without
banks, because banks are the one to control the cycle of moving in and out of money.

I'm also thinking this banks will never accept this and because of that it will also never happen its just not possible in my eyes due to this fact.
Also the banks are hating so much on it they only want the blockchain system these days.

Decentralised markets - they won't be able to stop it. Likewise btc. Things are moving fast. Openbazaar is a bit clunky but on the right track. Maidsafe is due out later this year. These things can't be uninvented - and do have great utility over the existing alternatives.

People will profit off the back of bitcoin, of course. But to say that bankers will, in the sense that we tradionally use the word "banker", might be a bit misleading. Is a footballer still a footballer if he now has to play the game with a golf ball ? We might still call him a footballer I suppose, if we like, just for old times sake.

Lets use the internet itself as the comparison, the measure - and whilst it can (and is) used for the sharing of child pornography, trolling on Bitcointalk.org etc, we'd have to agree that on the whole its a tremendous force for social good. The democratisation of knowledge - the sharing of info globally etc. Its a force for good by its nature - likewise, I'd say, bitcoin and its blockchain.