Can Bitcoin make Banks disappear? - page 262.

Ryananda

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Quote from: saiha on May 24, 2016, 08:51:45 AM

Quote from: Altynbekova on May 24, 2016, 08:42:09 AM

Quote from: boyptc on May 24, 2016, 01:57:44 AM

Quote from: pocarime32 on May 24, 2016, 12:19:18 AM

I don't think so, bitcoin will not affect the banks and every country need banks though. How about banks accepted bitcoins, so everyone happy and bitcoin and bank can stand together.

I'm also thinking about that, that banks will try to adopt the use of bitcoin and will encourage their bank depositors to use bitcoin as well. But still
banks can't be disappeared since they have a very important role in the economy.

Indeed they are way too big compared with other currency's, the fact is that banks will never disappear people will also always be needed.

Since the beginning of economy's time, in the history. There is already a bank, and I don't think bitcoin will make it disappear.
As a government needs a bank to be trusted for their financial system.

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.

Altcoinsupporter

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It can make only banks disappear and that is bad but you have to know that you can see that there are still a lot of people that is using their own payment method.
And that have to change because you see of course that Bitcoin is becoming more popular but it wont rise also that fast.

saiha

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Strength in Numbers

Quote from: Altynbekova on May 24, 2016, 08:42:09 AM

Quote from: boyptc on May 24, 2016, 01:57:44 AM

Quote from: pocarime32 on May 24, 2016, 12:19:18 AM

I don't think so, bitcoin will not affect the banks and every country need banks though. How about banks accepted bitcoins, so everyone happy and bitcoin and bank can stand together.

I'm also thinking about that, that banks will try to adopt the use of bitcoin and will encourage their bank depositors to use bitcoin as well. But still
banks can't be disappeared since they have a very important role in the economy.

Indeed they are way too big compared with other currency's, the fact is that banks will never disappear people will also always be needed.

Since the beginning of economy's time, in the history. There is already a bank, and I don't think bitcoin will make it disappear.
As a government needs a bank to be trusted for their financial system.

Altynbekova

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Quote from: boyptc on May 24, 2016, 01:57:44 AM

Quote from: pocarime32 on May 24, 2016, 12:19:18 AM

I don't think so, bitcoin will not affect the banks and every country need banks though. How about banks accepted bitcoins, so everyone happy and bitcoin and bank can stand together.

I'm also thinking about that, that banks will try to adopt the use of bitcoin and will encourage their bank depositors to use bitcoin as well. But still
banks can't be disappeared since they have a very important role in the economy.

Indeed they are way too big compared with other currency's, the fact is that banks will never disappear people will also always be needed.

saiha

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Strength in Numbers

Quote from: Chrismeister on May 24, 2016, 03:06:16 AM

I dont think they can easily make banks disappear the biggest company's on earth owns the banks in allot of country's so if the banks goes away what do you think will happen with everyone in the world. Where is going all our cash.

You got it, it won't be easy for bitcoin to make the banks disappear. And the is impossible this day, it will be possible if the banks are going to accept
btc to their service and as an another currency.

Imoote

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Quote from: Chrismeister on May 24, 2016, 03:06:16 AM

I dont think they can easily make banks disappear the biggest company's on earth owns the banks in allot of country's so if the banks goes away what do you think will happen with everyone in the world. Where is going all our cash.

Yes true I am not sure that bitcoin could make banks disappear because it is highly unlikely. Everyone requires banks and even countries are also to set the value, printing money, etc. Banks still needed at all and very difficult. In fact, all countries have their respective banks.

Chrismeister

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I dont think they can easily make banks disappear the biggest company's on earth owns the banks in allot of country's so if the banks goes away what do you think will happen with everyone in the world. Where is going all our cash.

boyptc

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Quote from: Dwelach on May 24, 2016, 02:43:35 AM

I dont think banks could disappear at all thats because of the payments of people how can they pay things without a bank. Everytone holding there cash at home i dont think that will be a great idea.

Bank is where our money being stored and earns for a small interest. And for those investors, they are loaning money from the bank.
Without the bank there would be no saver and loaner to all of us.
That's why bank is very important to a country. Without it , economic financial crisis is possible to happen.

Dwelach

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I dont think banks could disappear at all thats because of the payments of people how can they pay things without a bank. Everytone holding there cash at home i dont think that will be a great idea.

Chrismeister

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Quote from: Jet Cash on January 12, 2016, 04:46:56 AM

I think there are two factors here. The banking/debt crisis, and the emergence of crypto-currencies. It won't be Bitcoin that will destroy the banks, it will be the politicians who are taking bribes to allow rubbish derivatives to be created, and then allowing bail-ins for the banks to cover their fraudulent lending, who will cause the demise and re-structuring of banking. Bitcoin will just be one of the emerging solutions/replacements.

Not sure what I'm talking about? Look at the recent permission to allow fracking in the UK, and the bail-in of Cyprus and the Greek banking theft to help DoucheBank.

There are allot of banks who helping each other but the question is that the bitcoin will make banks disappear but that is off course not true. How would a coin make abanks with real money disappear no i dont think so.

DuckKeeper

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I dont think bank will disappear not even when the bitcoin is getting that big. He will never beat the dollars or the other real cash moneyss. If banks disappear how would men pay there rent and other stuff not anything is to sell for coins.

boyptc

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Quote from: pocarime32 on May 24, 2016, 12:19:18 AM

I don't think so, bitcoin will not affect the banks and every country need banks though. How about banks accepted bitcoins, so everyone happy and bitcoin and bank can stand together.

I'm also thinking about that, that banks will try to adopt the use of bitcoin and will encourage their bank depositors to use bitcoin as well. But still
banks can't be disappeared since they have a very important role in the economy.

Bitcoinpro

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Banks makes loans and will continue to do so in Bitcoin,

problem is u cannot get back Bitcoin as easily as freshly

printed fiat

pocarime32

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I don't think so, bitcoin will not affect the banks and every country need banks though. How about banks accepted bitcoins, so everyone happy and bitcoin and bank can stand together.

Doms

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Quote from: Kollor on May 23, 2016, 09:53:46 PM

Quote from: Akupuniard on May 23, 2016, 04:08:33 PM

Actually no, cause bank is so trusted and people will not stop using banks so easialy even if bitcoin will be much better, goverment will try to make bitcoin disappear.

The only inconvenience in banking is when their machines are offline, and when you have to fall in line and wait in their counters before they could serve you. Banking is much stronger and stable than bitcoin, as it is legally operated and financed. Bitcoin can't just beat the banks. Brains behind it is much more than the brains that run bitcoin.

Both banks and bitcoin have their advantages and disadvantages. We can actually use both to make our lives better and our transactions more efficient. Banks are going to stay with us for the foreseeable future because of its foundation and the solid backing that it has. Meanwhile bitcoin which is still very young compared to banks must break into the consciousness of the masses for it to have more success.

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Quote from: Kollor on May 23, 2016, 09:53:46 PM

Quote from: Akupuniard on May 23, 2016, 04:08:33 PM

Actually no, cause bank is so trusted and people will not stop using banks so easialy even if bitcoin will be much better, goverment will try to make bitcoin disappear.

The only inconvenience in banking is when their machines are offline, and when you have to fall in line and wait in their counters before they could serve you. Banking is much stronger and stable than bitcoin, as it is legally operated and financed. Bitcoin can't just beat the banks. Brains behind it is much more than the brains that run bitcoin.

I agree to you Akupuniard banks is a trusted and people will not stop using it because they can borrow money here or they can invedt their money to earn there. But the question here is about bitcoin that " can bitcoin make Banks disappear" theres a possible that it can disappear by bitcoin if they loose they fund in this coin. So if the manager of the bank dont know what to do her/his managing bank will be bancrupt.

Kollor

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Quote from: Akupuniard on May 23, 2016, 04:08:33 PM

Actually no, cause bank is so trusted and people will not stop using banks so easialy even if bitcoin will be much better, goverment will try to make bitcoin disappear.

The only inconvenience in banking is when their machines are offline, and when you have to fall in line and wait in their counters before they could serve you. Banking is much stronger and stable than bitcoin, as it is legally operated and financed. Bitcoin can't just beat the banks. Brains behind it is much more than the brains that run bitcoin.

Akupuniard

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Actually no, cause bank is so trusted and people will not stop using banks so easialy even if bitcoin will be much better, goverment will try to make bitcoin disappear.

darewaller

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Quote from: saiha on May 23, 2016, 08:14:13 AM

Quote from: dezoel on May 23, 2016, 08:10:26 AM

Quote from: saiha on May 23, 2016, 08:03:03 AM

Quote from: peta4e on May 23, 2016, 07:39:04 AM

Quote from: Lokfar on May 23, 2016, 04:44:06 AM

Quote from: Crazygreek on May 21, 2016, 12:12:59 PM

Quote from: Mr.grin on May 21, 2016, 10:47:08 AM

for now it is still very difficult. banks have a level of security and also a producer of the dollar which is the whole community needs. other than that bitcoin is still not as popular as the dollar

I see the only one right way to make banks dissappear, to stop using it but nobody will stop using banks, i am sure about it. Also many people will say that bitcoin is useless and bla bla bla.

Bitcoin can only make banks disappear if Bitcoin is almost used by everyone and that can be nice but it wont happen that fast because you cant earn money with it.
And the bad thing is that you also have to learn people how to work with Bitcoin.

Even if people are aware about bitcoin they will prefer to use both, as they feel that their money in bank is safe and they will surely hesitate to invest money in bitcoin at initial stage.

People tend to think money are much safe in the bank, well that's the reality and bank has the responsibility of your money, if your money was lost
while it is on their jurisdiction. They will just return your money.
Unlike in bitcoin, if someone gets your money not knowing who is that person, you can't return it.

The only bad thing about bitcoin is that its transactions are irreversible, and if someone steals or hacks your wallet its very difficult to find that person.

Well you are right dude, that's the disadvantage of bitcoin. I hope developers will try to improve about that issue.
And if you send a payment to an incorrect receiver, you can't cancel it. This should be fix also.

It would be nice if the devs did find a way to add that kind of a feature but it would definitely pose a problem to transactions as people can exploit this. Plus, we'd need some kind of an authority to confirm when cancelling a transaction or reversing it. With that, bitcoin's own version of 'banks' will emerge.

xIIImaL

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Quote from: a7goo on May 23, 2016, 11:07:51 AM

banks are parts of the real life, only a world war (3?) could destroy bank power.

It might be possible in future but hard to digest that banks can ever get disappear due to any digital currency, as banks are the strongest financial institutions and difficult to get disappeared as you said.

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