Can Bitcoin make Banks disappear? - page 268.

upsidedown75

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Quote from: Altynbekova on May 12, 2016, 03:41:51 PM

No this will never happen in the lifetime of the bitcoin, in my eyes this is just not possible because of the fact that banks are way too big.
I even think maybe the opposite will happen.

What is the use of banks are being big if their core concepts are not friendly to human. But bitcoin is very much advantages to all the human for their financial purpose. So, bitcoin will grow bigger than bank to compete and also to overcome banks.

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Quote from: shield132 on May 14, 2016, 09:21:14 AM

Bank generally won't dissapear, there is no chanse, but bitcoin is crypto currency and it has potential to be dissapeared but I think that goverment need bitcoin and it won't dissapear until they need.

The government doesn't need Bitcoin, they are content with just keeping their fiat money as fiat and leaving Bitcoin to do whatever it is supposed to be doing.

The governments can't make Bitcoin just up and disappear, though. They would have to put in a lot more effort in order to try and snuff out Bitcoin, and it doesn't look like they would be able to.

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Bank generally won't dissapear, there is no chanse, but bitcoin is crypto currency and it has potential to be dissapeared but I think that goverment need bitcoin and it won't dissapear until they need.

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Banks will never disappear. where will we put are real money? and all of the country uses banks to put trillion of dollars for safe keeping and earn profits. Banks will never vanishes. Hoping that bitcoin has a bank too. With a big profit like 1% per day. Cheesy

I guess if that happen... That bank will be rich or get bankrupt in less than a week. Cheesy

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Quote from: Rizky Aditya on May 14, 2016, 05:45:27 AM

Quote from: Snorek on May 12, 2016, 01:42:38 PM

Quote from: bias on May 12, 2016, 08:42:59 AM

Banks will never disappear as long as people want to invest their money or get loans... they will be their for the sole purpose probably evolve into a bitcoin bank

I wouldn't use term 'bitcoin bank'. Banks will probably adapt an evolve but I am sure that won't have anything to do with the bitcoin.
They will operate on cryptocurrencies but most likely will be some new form of altcoin created either by banks or by government.

Bitcoin is really a bank on its own. The only reason you would need a Bitcoin bank is for giving out loans. Its not like you're going to store your Bitcoins in a bank.

We can conclude that bitcoin wallets can be considered as an online bank by yes, bitcoin is a bank on its own. But still, just like real money.
You need to hide it somewhere it can be really because there are always eyes out there looking for some instant money.

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Quote from: Karartma1 on May 14, 2016, 05:33:54 AM

Banks are investing quite a few money into blockchain development: you all know they don't care about bitcoin. They hate bitcoin, because BTC showed everyone here that creating money is a matter of trust (and a damn good cryptographic protocol). Banks will not disappear, unfortunately they will adapt to bitcoin by creating their own cryptocurrencies.

I agree with you.
Banks don't like Bitcoin because BTC is decentralized, does not depend on any bank, was created by the people for the people.
Bitcoin helps average people to become financially free and to no longer be slaves of the banks and bad loans.
Can Bitcoin make Banks disappear?
In the near future surely not.
But, in the distant future, when we fully enter digital age, it's likely scenario.

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Quote from: Snorek on May 12, 2016, 01:42:38 PM

Quote from: bias on May 12, 2016, 08:42:59 AM

Banks will never disappear as long as people want to invest their money or get loans... they will be their for the sole purpose probably evolve into a bitcoin bank

I wouldn't use term 'bitcoin bank'. Banks will probably adapt an evolve but I am sure that won't have anything to do with the bitcoin.
They will operate on cryptocurrencies but most likely will be some new form of altcoin created either by banks or by government.

Bitcoin is really a bank on its own. The only reason you would need a Bitcoin bank is for giving out loans. Its not like you're going to store your Bitcoins in a bank.

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Banks are investing quite a few money into blockchain development: you all know they don't care about bitcoin. They hate bitcoin, because BTC showed everyone here that creating money is a matter of trust (and a damn good cryptographic protocol). Banks will not disappear, unfortunately they will adapt to bitcoin by creating their own cryptocurrencies.

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Quote from: naidray on May 14, 2016, 05:11:29 AM

Quote from: Akupuniard on May 12, 2016, 01:50:10 PM

Quote from: bitcoinhopper on May 12, 2016, 01:13:02 PM

The chance that it will happen is really small and that is that many people are still dont even know how Bitcoin works so that is the problem.
If it will make it disappear than Bitcoin have to be really popular so there will be also more people that have to promote it so more people can get to know about it.

Banks will not dissapear anyway and everybody know it. Bitcoin can't compete banks, it's just need to evolve to start. When bitcoin will grow we will see what happen.

But I believe now itself we can predict the future of bank based on the evolution of bitcoin. People will slowly start forgetting about using bank when bitcoin enters into mainstream of adoption. So, definitely bitcoin will compete with bank and also will definitely will win that race.

That is not possible ever, bitcoin can never make banks disappear even it hits the mainstream, people who are comfortable with banks will continue to use them even if bitcoin reaches to the moon.

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Quote from: Akupuniard on May 12, 2016, 01:50:10 PM

Quote from: bitcoinhopper on May 12, 2016, 01:13:02 PM

The chance that it will happen is really small and that is that many people are still dont even know how Bitcoin works so that is the problem.
If it will make it disappear than Bitcoin have to be really popular so there will be also more people that have to promote it so more people can get to know about it.

Banks will not dissapear anyway and everybody know it. Bitcoin can't compete banks, it's just need to evolve to start. When bitcoin will grow we will see what happen.

But I believe now itself we can predict the future of bank based on the evolution of bitcoin. People will slowly start forgetting about using bank when bitcoin enters into mainstream of adoption. So, definitely bitcoin will compete with bank and also will definitely will win that race.

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Quote from: Absolon on May 13, 2016, 11:50:50 PM

I think bitcoin is a source to earn fiat money. it cannot make banks disappeared.

Yes highly unlikely bitcoin could make banks disappear. Because as you said, that bitcoin is to earn money. So definitely still require banks to melt into money.

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I think bitcoin is a source to earn fiat money. it cannot make banks disappeared.

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Quote from: The Sceptical Chymist on May 12, 2016, 09:38:03 PM

Ehhh...no. It's kinda like when the internet came out in the late nineties full force, and people thought that brick and mortar stores weren't going to exist anymore. Bitcoin has the power to disrupt a lot of things but it isn't going to be the end of banks.

Yes true bitcoin does have the power and the potential to develop. But it will not make banks disappear. Because bitcoin does not affect any of the banks. Both have their respective places.

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Ehhh...no. It's kinda like when the internet came out in the late nineties full force, and people thought that brick and mortar stores weren't going to exist anymore. Bitcoin has the power to disrupt a lot of things but it isn't going to be the end of banks.

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Maybe in a long term its possible although I do not see this happen of course.
Banks are way too powerful and the opposite will happen most likely, the banks will let the bitcoin disappear.

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No this indeed is not gonna happen by far, banks are way to big indeed and they also have too much power.

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Quote from: AriesIV10 on May 12, 2016, 03:59:09 PM

I am a bitcoin miner. I have several accounts from other businesses, but needed to open an account for my bitcoin mining. I went to Chase Bank. I told them exactly what I wanted to do and they showed me in their policies and regulations that they cannot do any business associated with cryptocurrencies inclusive of bitcoin. They explained how they are looking for any transactions associated with businesses that use cryptocurrency and close their account.

I had been told this by a mining buddy of mine, but did not really believe that this was this extensive.

This is what all banks position should be as they are regulated and dont wanna to work with bitcoin,thats a snap on the face to who holds bitcoins as well who owns projects related to bitcoin.Meaning you will need to sell your coins direct to someone else and try to avoid banks, i had sold some bitcoins with another user with banks involved sure they dont know what it was the money for.Im sure not all banks has that position as several people invested huge ammounts into exchanges and had cashout the money or big money into the banks,paying a fee to the bank and making the portfolio get registed and be sure they pay a fee from it.

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I am a bitcoin miner. I have several accounts from other businesses, but needed to open an account for my bitcoin mining. I went to Chase Bank. I told them exactly what I wanted to do and they showed me in their policies and regulations that they cannot do any business associated with cryptocurrencies inclusive of bitcoin. They explained how they are looking for any transactions associated with businesses that use cryptocurrency and close their account.

I had been told this by a mining buddy of mine, but did not really believe that this was this extensive.

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Quote from: Snorek on May 12, 2016, 01:42:38 PM

Quote from: bias on May 12, 2016, 08:42:59 AM

Banks will never disappear as long as people want to invest their money or get loans... they will be their for the sole purpose probably evolve into a bitcoin bank

I wouldn't use term 'bitcoin bank'. Banks will probably adapt an evolve but I am sure that won't have anything to do with the bitcoin.
They will operate on cryptocurrencies but most likely will be some new form of altcoin created either by banks or by government.

agree with you , I think if not banks then governments will definitely start their own coins and will impose it on their public to use only that currency, and will work for that to compete other crypto currencies the same as in the fiat our governments are competing each other. But I don;t think that they will defeat bitcoin.

Altynbekova

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No this will never happen in the lifetime of the bitcoin, in my eyes this is just not possible because of the fact that banks are way too big.
I even think maybe the opposite will happen.

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