Topic: Can Bitcoin make Banks disappear? - page 271. (Read 427614 times)

Yeah thays very true its very impossible for bitcoin to make banks disappear because banking system is there and it has very strong sytem in global economy, banks is more preferable for people who want to do transaction and saving for most of all people and businessmans while bitcoin is really relyiNg for banks so it can be usefull.

This is impossible that bitcoin will make the banking system disappear, in the past centuries there are already banks. And look, until today
bank still exist. And we don't know that this bitcoin will become stronger after some years but I do believe that it is strong.

No I consider this as impossible to be honest because I think the bitcoin has a very good future but not such a good future compared with other currency's.

I don't think bitcoin can make banks disappear. That's because bitcoin will not be such popular
as normal gold every people get payed by gold not by bitcoins.

Bitcoin will only make Banks disappear if the Bitcoin is popular and used by everyone but that is not the case now so it cant also disappear.
But maybe it will be possible later when Bitcoin is used by everyone but than you have also promote it more.

Yeah and I think bitcoin is still new and majority of people don't have faith in bitcoin and not many are aware about it but they have great level of faith in banking system.

I don't think that bitcoin will make the banks disappear, banks are really trusted by the government with certain documents included. Unlike bitcoin we are still not sure about the protection we can get from using it.

no, I don't trust banking system at all, bud difference is, that if something go wrong, bank or gov. office can help..if something go wrong with my bitcoin, well, I'm in deep shit..

this is core difference and reason, why bitcoin will never replace fiat. people just want somebody to take care about their money and fix their mistakes. bitcoin usage comes with huge responsibility and only few people are willing to accept it..

bitcoin will not be able to change everything that falls under the government, despite bitcoin already very popular.

It really takes longtime because bitcoin has many things to prove with and it gas lack of adoption now for making bank disappear i really doubt that it will happen because bank is the most safest system to save your money in this world and bitcoin could not replace it because bitcoin price is unstable.

Bitcoin doesn't have that high potential or that high power to make banks disappear, as banks are the most trusted organization at a moment.

That is kinda Bitcoin's aim at the moment. To abloish the current system and make the Bitcoin system more popular. But it may take a long... time.

Yeah bank will never disappear even if bitcoin gets on the mainstream  as it is difficult to imagine the life without the banks as it is helping us in many ways.

This question may have the same meaning as. whether bitcoin can replace fiat? and the answer will never, as well as bitcoin bank that can not make disappear.

Theoretically, yes. If everyone in the world have started to use exclusively Bitcoin and cease to carry money in banks, the latter would undoubtedly have collapsed. But such a scenario no one seriously considers. The banking industry is not so much worried about Bitcoin as blockchain technology. Banks have become so accustomed to collect their share whenever money changes hands, it can no longer imagine a life without this source of income.

Even the widespread introduction of decentralized cryptocurrency is unlikely to be a fatal blow for the banks. In case if cryptocurrency widespread income Bitcoin network (eventually miners) could reach $ 425 billion in 2014. At first glance, this seems an enormous sum for a standard service for transmitting / sending money. However, when you consider the fact that Bank of America over the same period was a gain of $ 95 billion alone, it is clear that only a tiny portion of the total market of money transfers falls on the share of Bitcoin.

On this basis, even widespread Bitcoin or any altcoins not lead to a complete collapse of the banking system, although the banks themselves may take some measures that will make it possible. The fact that those above $ 425 billion are part of the revenues that banks receive with minimal risk and almost no cost. There is no risk, as well as almost no cost and the fact that you take $ 30 for obtaining a money transfer, especially bearing in mind the fact that the bank within three days of "cool" your money at delaying payment. So, if that income stream dries up or seriously reduced, it will have something to replace. This, in turn, means that most of the bank's revenue will come from the more risky areas of activity, such as loans or trade. To understand what it may lead, you can just remember the crisis of 2008-2009.

Yes absolutely right people will choose the banks due to any time the community will continue to rely on banks. Very hard to make banks disappear. Banks will continue to get help from the government so it is very difficult to disappear. Because if the banks disappear country's economy will weaken and it could also weaken the country.

As we know bitcoin is gaining popularity day by day but its imposible that banks could disappear, bank could just work under bitcoin or they could start bitcoin as a currency , society is dependent on banks and even though bitcoin could gain its popularity like fiat , society wont leave behind the banks:)

Yes true once it is proven that all bitcoin users still use the banks to redeem bitcoin to currency. It is proof that human beings can not be separated from the banks. That means that bitcoin will not be able to make banks disappear because it's highly unlikely.

Yes society is dependent on banks and they will never stop using it even if bitcoin gets on the mainstream, and bitcoin is not that powerful yet to make banks disappear.

I think it is not realistic that the average joe will handle his private keys on his own.

So there always will be a demand for something like banks, even if bitcoin will succeed.