Can Bitcoin make Banks disappear? - page 269.

terman45x

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Quote from: geopolisch on May 12, 2016, 02:11:56 PM

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.

I think that will not happen so fast. That is not so good for the people. I think that more people will use also normal banks. And they dont know and not aware on how to use Bitcoins at the present moment.

People are used to banks, they find it easy and very comfortable, we cannot expect that they will switch to bitcoin on the spot, as they are still not aware about the bitcoins.

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Bitcoin can make this happen for 10 years or so

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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.

I believe banks could offer a bitcoin payment service or savings but i doubt they will support it as the countries in general are against bitcoin because it being decentralized and not regulated.

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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.

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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.

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Bravity is beautiful.

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.

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We also forget that all banks are represented by sovereign nations that have militaries, or at the very least access to a regulatory body that can sanction or force participants to pay it. Bitcoins non refundable nature doesn't bode well in this current consumer climate, consumers AND businesses need a mechanism to charge back in the event a product or service fails to meet expectations. Bitcoin just doesn't dovetail that well with the current model, and I think it more likely bitcoin will disappear in its current form before the banks will.

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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

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Quote from: jamesl22 on May 12, 2016, 04:48:04 AM

Banks will never disappear, banks will always exist and if bitcoin wants to disappear banks then it will need strong and valid reason to do so which seems to be impossible at a moment.

Yes it is highly unlikely if the banks disappear because bitcoin make sure it would never happen. Banks have high strength because it has legal protection from the government, and it was very different from the bitcoin which I still do not have legal protection.

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Banks will never disappear, banks will always exist and if bitcoin wants to disappear banks then it will need strong and valid reason to do so which seems to be impossible at a moment.

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bitcoin is in its start up point as for now this could be the stage where in the beginning it will take a couple of years more to complete stage 1. as for now in order for bitcoin to expand its financial control globally it needs those banks or any financial/remittance institution's to spread its arms to reach the un-reached and to let known to all the financial capability of bitcoin. In the days to come banks will still be in the go since most of what we have now are kept in banks globally. and maybe banks will cater our financial transactions using bitcoins but I'm pretty sure they will have a fee or a charge for such transactions. Grin

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Quote from: romero121 on May 12, 2016, 04:20:42 AM

Quote from: xIIImaL on May 12, 2016, 01:34:05 AM

Quote from: PsursV on May 12, 2016, 12:48:26 AM

i dont think that bank will disappear. instead they will use bitcoin. because i time will come when people will use bitcoin as a primary currency.

Making banks disappear is like not using money for our daily needs. Bitcoin is known to only a few percentage of people. Also to stop banking services no one will support.

Yeah truly no one can stop the banking services. Bitcoin would never be an issue for the development in the banking. Banking sectors might follow the technology of bitcoin.

Yeah banks might adopt blockchain technology in future but they will not support bitcoin as a currency and I don't think that bitcoin is strong enough to make banks disappear.

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Quote from: xIIImaL on May 12, 2016, 01:34:05 AM

Quote from: PsursV on May 12, 2016, 12:48:26 AM

i dont think that bank will disappear. instead they will use bitcoin. because i time will come when people will use bitcoin as a primary currency.

Making banks disappear is like not using money for our daily needs. Bitcoin is known to only a few percentage of people. Also to stop banking services no one will support.

Yeah truly no one can stop the banking services. Bitcoin would never be an issue for the development in the banking. Banking sectors might follow the technology of bitcoin.

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Quote from: Doms on May 12, 2016, 01:25:04 AM

Quote from: jossiel on May 12, 2016, 01:07:14 AM

Quote from: PsursV on May 12, 2016, 12:48:26 AM

i dont think that bank will disappear. instead they will use bitcoin. because i time will come when people will use bitcoin as a primary currency.

I'm thinking of that also that when bank is on its way to fall and they have no choice but adopting bitcoins to their service. Because it can make their sales boost once they tried to use bitcoin to their currency.

It may not come to a point where banks would adopt BTC, instead, what I think they'd do is create an altcoin that's serviced by banks. That way, they can buy and sell that altcoin and would still make profits for them, and offer it as another service to their existing clients.

Maybe they will just adopt the concept of bitcoin instead of adopting the bitcoin itself. We know that wants always to be in the trend and every thing wants to control with money.

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Quote from: PsursV on May 12, 2016, 12:48:26 AM

i dont think that bank will disappear. instead they will use bitcoin. because i time will come when people will use bitcoin as a primary currency.

Making banks disappear is like not using money for our daily needs. Bitcoin is known to only a few percentage of people. Also to stop banking services no one will support.

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Quote from: jossiel on May 12, 2016, 01:07:14 AM

Quote from: PsursV on May 12, 2016, 12:48:26 AM

i dont think that bank will disappear. instead they will use bitcoin. because i time will come when people will use bitcoin as a primary currency.

I'm thinking of that also that when bank is on its way to fall and they have no choice but adopting bitcoins to their service. Because it can make their sales boost once they tried to use bitcoin to their currency.

It may not come to a point where banks would adopt BTC, instead, what I think they'd do is create an altcoin that's serviced by banks. That way, they can buy and sell that altcoin and would still make profits for them, and offer it as another service to their existing clients.

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Quote from: PsursV on May 12, 2016, 12:48:26 AM

i dont think that bank will disappear. instead they will use bitcoin. because i time will come when people will use bitcoin as a primary currency.

I'm thinking of that also that when bank is on its way to fall and they have no choice but adopting bitcoins to their service. Because it can make their sales boost once they tried to use bitcoin to their currency.

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i dont think that bank will disappear. instead they will use bitcoin. because i time will come when people will use bitcoin as a primary currency.

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Quote from: BurjDubai on May 11, 2016, 08:38:34 AM

Its very difficult for banks to disappear

Only bankruptcy can make a bank disappear even though there are lots of bank that are competing to each other the first company that will be bankrupt would surely lose on the way and will disappear after.

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"That's just like, your opinion, man."

Not instantly, though definitely over time. Most people still aren't comfortable with the idea of not having tangible cash. There's still a long road ahead to worldwide adoption and unless something completely unexpected happens and forces everyone onto Bitcoin (somehow), we've still got a good 10-20 years until everyone uses it in some capacity.

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