Topic: Can Bitcoin make Banks disappear? - page 27. (Read 427618 times)
I would chip in and say a concrete no. Bankers will adapt and will do anything to get a fee from moving funds.
Bitcoin has some banks yet. Its ATMs installed around the world also. But today society is not ready nor mentally, nor technologically to dispense the banks. This is impossible now. Maybe in future.
Definitely, Bitcoin can make the banks go bankrupt.
I live in Sweden and there is a lot of bank experts in the media saying Bitcoin is a bubble and it dangerous to invest as you can lose all money but in reality, they are just scared that their bank is going to go bankrupt.
There are services which bank provides not provided by bitcoin. But in future when bitcoin became the only crypto currency. They will provide these services more cheap than banks. In future bank will disappear soon. Because of its bad quality transaction and higher extra fees. When the bitcoin community wider they will understand that banks have high fees. So they will lose interest in banks. One thing that prevent banks from disappearance if they became partner with bitcoin. I live in Sweden and there is a lot of bank experts in the media saying Bitcoin is a bubble and it dangerous to invest as you can lose all money but in reality, they are just scared that their bank is going to go bankrupt.
I totally disagree sir! Bitcoin couldnt replace the banks. Although bitcoin had many attributes like decentralized and fast transactions. We cannot say that bitcoin could totally dominate the finance sector that may results of closed banks. Aside from bitcoin has a limited supply, a bitcoin wallet is also prone to hack if the holder doesnt know how to handle it unlike banks they gives us assurance that our money is safe on their hands. And I think world bank wont let it happen.
It seems that experts say that Bitcoin 'Here to Stay,' But Banks Could Disappear.
"TheStreet: How do you think FinTech will impact the way banks operate?
Frank Schwab: Banks either react on, or they will disappear. Anyway, the consolidation of the banking industry accelerates as the behaviour of people changes. Some banks will benefit from [FinTech], some will be pushed to the back end, and some will disappear."
http://www.thestreet.com/story/13419089/1/bitcoin-here-to-stay-but-banks-could-disappear-says-fintech-expert.html
What's your read on that?
"TheStreet: How do you think FinTech will impact the way banks operate?
Frank Schwab: Banks either react on, or they will disappear. Anyway, the consolidation of the banking industry accelerates as the behaviour of people changes. Some banks will benefit from [FinTech], some will be pushed to the back end, and some will disappear."
http://www.thestreet.com/story/13419089/1/bitcoin-here-to-stay-but-banks-could-disappear-says-fintech-expert.html
What's your read on that?
I feel that if banks all over the world won't accept the system that the cryptocurrencies have, then there is a possibility that the foundation of banks would crumble since it contradicts to the whole idea of not having any physical money involved. So, sooner or later they need to accept that fact and adapt to the changes that the cryptocurrencies caused.
Banks will not disappear, just banks for crypto currency will appear. Without banks, chaos in the economy will begin if they cease to exist right now.
It seems that experts say that Bitcoin 'Here to Stay,' But Banks Could Disappear.
"TheStreet: How do you think FinTech will impact the way banks operate?
Frank Schwab: Banks either react on, or they will disappear. Anyway, the consolidation of the banking industry accelerates as the behaviour of people changes. Some banks will benefit from [FinTech], some will be pushed to the back end, and some will disappear."
http://www.thestreet.com/story/13419089/1/bitcoin-here-to-stay-but-banks-could-disappear-says-fintech-expert.html
What's your read on that?
I do not think that at the presence of bitcoin bank will disappear. Even many people predicted that bitcoin is the new face of currency or currency of the future, we can not say that it is intended to remove bank in the future. Why? Because the great people and government behind banks will not allow that to happen. Banks are their source of living and bank is the reason why they become wealthy. So, they will do everything to sustain it. Instead of thinking that bank will disappear in the future, maybe it is more reliable to say that in the future, bitcoin will be the partner of banks in controlling the circulation and distribution of crypto currency. If ever that the prediction of one world one currency will happen, I guess still bank exist by then. "TheStreet: How do you think FinTech will impact the way banks operate?
Frank Schwab: Banks either react on, or they will disappear. Anyway, the consolidation of the banking industry accelerates as the behaviour of people changes. Some banks will benefit from [FinTech], some will be pushed to the back end, and some will disappear."
http://www.thestreet.com/story/13419089/1/bitcoin-here-to-stay-but-banks-could-disappear-says-fintech-expert.html
What's your read on that?
I think its impossible to replace bank of bitcoin because first of all bank is the first known use where people save their money.And although bitcoin get stronger it will never disappear bank because in bank people think that no risk to save thier money while in bitcoin there is always a risk or possibility to disappear and once its disappear their money or bitcoin also disappear.
Certainly it will not happen anytime soon, BTC is a currency of the future but taking over place of the real currency of the world that is pretty structured currently won't be a short-term project if BTC could overthrow fiat at anytime owner wishes.
Banks will not disappear if they cooperate. Cryptocurrency and banks can be join force if the bank will allow cryptocurrrency to be part of the stock exchange.
Bank may soon adopt blockchain to their old system or using an exist altcoin to enhance their process (eg: Ripple).
The govt will keep the bank alive to manage cash flow also collect the tax.
The govt will keep the bank alive to manage cash flow also collect the tax.
Any bank which doesn't accept Blockchain technology is going to eventually disappear.
People use Bank for saving, exchange... Bitcoin is one of currency, so it will work base on Bank.
I think Bitcoin can't make Banks disappear.
I think Bitcoin can't make Banks disappear.
Some bank owners are afraid of this and begin to learn how the blockchain work system works so that they can integrate it into their existing banking system because they consider bitcoin as their biggest rival that can make it disappear slowly. 
It seems that experts say that Bitcoin 'Here to Stay,' But Banks Could Disappear.
"TheStreet: How do you think FinTech will impact the way banks operate?
Frank Schwab: Banks either react on, or they will disappear. Anyway, the consolidation of the banking industry accelerates as the behaviour of people changes. Some banks will benefit from [FinTech], some will be pushed to the back end, and some will disappear."
http://www.thestreet.com/story/13419089/1/bitcoin-here-to-stay-but-banks-could-disappear-says-fintech-expert.html
What's your read on that?
"TheStreet: How do you think FinTech will impact the way banks operate?
Frank Schwab: Banks either react on, or they will disappear. Anyway, the consolidation of the banking industry accelerates as the behaviour of people changes. Some banks will benefit from [FinTech], some will be pushed to the back end, and some will disappear."
http://www.thestreet.com/story/13419089/1/bitcoin-here-to-stay-but-banks-could-disappear-says-fintech-expert.html
What's your read on that?
in my opinion i would not actually agree to the allusion that bitcoin will make banks disappear. What I foresee is that banks will tend to adopt the use of bitcoin and even encourage customers to bank in accounts with bitcoin wallets. Just like we have bitcoin wallets with different providers, banks will also introduce bitcoin wallets where customers can deposit their bitcoins.
Whether the bitcoin will big and grow. . I think bank will stay so nothing's change.
People will always need banking, just for credit for example, then it's reassuring for Mr. X to have a bank with a big name that is "solid"
No. bitcoin will never make banks disappear because government own the banks. Some governments are even banning bitcoin in their countries to avoid competition. Perhaps, in the future some cryptocurrency, an altcoin will do.
It is important to note the importance of major companies, if we understand the relationship between government companies and banks, we know that the banks will never lose power. In almost every country, government companies and banks are in a relationship.
no it won't
I don't think Bitcoin will make bank disappear, bank will always be there because they will always have a service to provide.
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