Can Bitcoin make Banks disappear? - page 261.

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Quote from: bamboylee on May 26, 2016, 06:29:11 AM

Quote from: richardsNY on May 25, 2016, 09:09:58 AM

Quote from: akamit on May 25, 2016, 03:45:27 AM

Banks will not disappear at any cost.
Bitcoin will stay at its position and bank will at there.
Maybe someday banks/governments may invest in bitcoin..

I don't think governments will invest directly in Bitcoin as there is nothing with Bitcoin that interests them as Bitcoin stands for freedom. Governments want something where they remain their full control over the entire financial industry. Bitcoin can't offer that to them.

Exactly. Bitcoin is the exact opposite of what the current banking system is doing. Bitcoin is trying to free us from the grasp of the banks and the government. While the banks are trying to control us thru high interest loans and credit cards. I do not think bitcoin will totally eradicate the banks but at least it can provide us an alternative.

Yes true if bitcoin can give us an alternative I agree with you, but if bitcoin could make banks disappear or replace it will not be possible.
Since both are very different.

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Quote from: richardsNY on May 25, 2016, 09:09:58 AM

Quote from: akamit on May 25, 2016, 03:45:27 AM

Banks will not disappear at any cost.
Bitcoin will stay at its position and bank will at there.
Maybe someday banks/governments may invest in bitcoin..

I don't think governments will invest directly in Bitcoin as there is nothing with Bitcoin that interests them as Bitcoin stands for freedom. Governments want something where they remain their full control over the entire financial industry. Bitcoin can't offer that to them.

Exactly. Bitcoin is the exact opposite of what the current banking system is doing. Bitcoin is trying to free us from the grasp of the banks and the government. While the banks are trying to control us thru high interest loans and credit cards. I do not think bitcoin will totally eradicate the banks but at least it can provide us an alternative.

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Quote from: mark coins on May 25, 2016, 12:22:54 PM

Quote from: jossiel on May 25, 2016, 11:29:48 AM

Quote from: RhodaGila on May 25, 2016, 11:23:54 AM

I guess not, they will think a million times to do it, except bitcoin and bank side by side, but the government's role is very important here to be able to legalize bitcoin as a whole

I don't it government will legalize bitcoin, but since there are speculations and conspiracy that in the future the monetary scene, would be
cashless society and I'm thinking that bitcoin would be the currency used for it.

You cannot expect the cashless society ever in future as that seems to be impossible as banks will always survive in future too and there is no competitor to the banking system.

What does a cashless society have to do with banks surviving or not?
Cash will be removed in less than 10 years, this does not mean banks will disappear, but Bitcoin use will skyrocket because a lot of people will not be able to pay all taxes, so they will need a new way to keep working for cash, and since there will be no cash, they will work for Bitcoin.

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Quote from: jossiel on May 25, 2016, 11:29:48 AM

Quote from: RhodaGila on May 25, 2016, 11:23:54 AM

I guess not, they will think a million times to do it, except bitcoin and bank side by side, but the government's role is very important here to be able to legalize bitcoin as a whole

I don't it government will legalize bitcoin, but since there are speculations and conspiracy that in the future the monetary scene, would be
cashless society and I'm thinking that bitcoin would be the currency used for it.

You cannot expect the cashless society ever in future as that seems to be impossible as banks will always survive in future too and there is no competitor to the banking system.

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Quote from: RhodaGila on May 25, 2016, 11:23:54 AM

I guess not, they will think a million times to do it, except bitcoin and bank side by side, but the government's role is very important here to be able to legalize bitcoin as a whole

I don't it government will legalize bitcoin, but since there are speculations and conspiracy that in the future the monetary scene, would be
cashless society and I'm thinking that bitcoin would be the currency used for it.

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Quote from: RhodaGila on May 25, 2016, 11:23:54 AM

I guess not, they will think a million times to do it, except bitcoin and bank side by side, but the government's role is very important here to be able to legalize bitcoin as a whole

Honest governments will always support bitcoins as it can grow their economy but that's hard to predict that any government will stand tall with bitcoin.

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I guess not, they will think a million times to do it, except bitcoin and bank side by side, but the government's role is very important here to be able to legalize bitcoin as a whole

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Quote from: hawkins on May 25, 2016, 10:34:44 AM

Quote from: Fofofolo on May 25, 2016, 09:51:07 AM

I dont think there will be any new paying method that will make banks disappear so also bitcoin wont make that happen. There will maybe in the future be bitcoin banks if he grows fast but we will see.

I feel that it is impossible bitcoin will make the bank disappears, the current is very obvious that the bank is still better than bitcoin, I think is very much to be changed in order bitcoin bank can make disappear

Yeah that's right, bank will still be better than bitcoin because it is the one that the government needs. But still, I'm hoping that banks will
adopt the concept of bitcoin and going to accept bitcoins to their services.

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Quote from: Fofofolo on May 25, 2016, 09:51:07 AM

I dont think there will be any new paying method that will make banks disappear so also bitcoin wont make that happen. There will maybe in the future be bitcoin banks if he grows fast but we will see.

I feel that it is impossible bitcoin will make the bank disappears, the current is very obvious that the bank is still better than bitcoin, I think is very much to be changed in order bitcoin bank can make disappear

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Quote from: Fofofolo on May 25, 2016, 09:51:07 AM

I dont think there will be any new paying method that will make banks disappear so also bitcoin wont make that happen. There will maybe in the future be bitcoin banks if he grows fast but we will see.

I think blockchain will be also physical as banks does, and it can be the bank for bitcoins. Because it is impossible that bitcoin will make
disappear the banks in the market.
But it is possible for banks to accept bitcoin and adopt it to their service.

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I dont think there will be any new paying method that will make banks disappear so also bitcoin wont make that happen. There will maybe in the future be bitcoin banks if he grows fast but we will see.

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Quote from: tampazeus on May 25, 2016, 09:12:29 AM

Quote from: richardsNY on May 25, 2016, 09:09:58 AM

Quote from: akamit on May 25, 2016, 03:45:27 AM

Banks will not disappear at any cost.
Bitcoin will stay at its position and bank will at there.
Maybe someday banks/governments may invest in bitcoin..

I don't think governments will invest directly in Bitcoin as there is nothing with Bitcoin that interests them as Bitcoin stands for freedom. Governments want something where they remain their full control over the entire financial industry. Bitcoin can't offer that to them.

Exactly and if they start supporting bitcoin then they will loose all their control on money that they are enjoying at a moment with fiat and it will end up their corrupted activities too.

Yes if Government support means Bitcoin will be corrupted. That is why still lot of countries not accepted and saying it's illegal currency. If it want to become famous means Bitcoin should enter online market then only it will become famous and evry one know about this crypto currency. But Bitcoin will not compete with Bank ever. Because Bank is the oldest currency saving method so people will not leave bank any more and it is safest than Bitcoin.

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Quote from: richardsNY on May 25, 2016, 09:09:58 AM

Quote from: akamit on May 25, 2016, 03:45:27 AM

Banks will not disappear at any cost.
Bitcoin will stay at its position and bank will at there.
Maybe someday banks/governments may invest in bitcoin..

I don't think governments will invest directly in Bitcoin as there is nothing with Bitcoin that interests them as Bitcoin stands for freedom. Governments want something where they remain their full control over the entire financial industry. Bitcoin can't offer that to them.

Exactly and if they start supporting bitcoin then they will loose all their control on money that they are enjoying at a moment with fiat and it will end up their corrupted activities too.

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Quote from: akamit on May 25, 2016, 03:45:27 AM

Banks will not disappear at any cost.
Bitcoin will stay at its position and bank will at there.
Maybe someday banks/governments may invest in bitcoin..

I don't think governments will invest directly in Bitcoin as there is nothing with Bitcoin that interests them as Bitcoin stands for freedom. Governments want something where they remain their full control over the entire financial industry. Bitcoin can't offer that to them.

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It can make only banks disappear if the Bitcoin is almost used by everyone and that is not the case now because there are still a lot of people that needs there bank and that is important for them.
Of course you see that Bitcoin is getting more popular and used but it will not be that popular that it can make the banks disappear.

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Banks will not disappear at any cost.
Bitcoin will stay at its position and bank will at there.
Maybe someday banks/governments may invest in bitcoin..

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Quote from: Fofofolo on May 25, 2016, 03:04:12 AM

Offcourse the bitcoin cant make bank disappear only because of the many users a bank has. Bitcoins will be big in the future but saying that they will remove the real banks no that will never happen.

I disagree with you i dont really believed banks will be reolaced by just bitcoin its totally hard to think if it will really happen, and if happen who will implement it?? Answer. No organization are holding bitcoin nor no government holding or even looking at it bitcoin is still unknown for many people, and it dont cross in my mind that bitcoin will conquer banks because banks have great contribution to economic aspects of the country where it originated and government will prefered to stock their money in safety vaults in bank rather than putting it in floating wallet.

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Offcourse the bitcoin cant make bank disappear only because of the many users a bank has. Bitcoins will be big in the future but saying that they will remove the real banks no that will never happen.

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Quote from: neochiny on January 12, 2016, 01:58:44 AM

I think banks will not disappear.
They can change or can work with bitcoins.
but they will never disappear as fiat will never disappear too.
If fiat comes to the point that has no use already,
then thats the only time that banks can disappear.
But as i have said, its impossible.

thats a good thought banks will never go away not because of the coin that is for sure. But there will be one point in life when the coin is just as big as the normal gold.

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Quote from: Ryananda on May 24, 2016, 09:27:30 PM

Absolutely banks play an important role as the country's economy and now no one country that do not have banks. Bitcoin can eliminate banks is quite impossible because between the two I think is very different and has no effect on each.

Imagine a situation where all would enjoy only Bitcoins and stopped working with the banks, the financial institutions, would certainly have collapsed.
On the other hand, in reality no such a scenario does not address. The banking sector are concerned primarily not Bitcoin but blokchain technology. It's no secret that banks are accustomed to constantly receive some income from the change of the owner, so imagine their functioning without such a source is not possible.

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