Topic: Can Bitcoin make Banks disappear? - page 275. (Read 427614 times)

Quote from: Yaupgitda on May 01, 2016, 01:11:10 PM

I'm not trying to sound negative but there's a also a possibility that banks can make bitcoin disappear. You ask me how?
Banks might come up with their own version of a regulated bitcoin like product. Since banks have been around and people see them as trustworthy companies, people would think that their money would be safer there and they would have options to choose from in terms of what they'd like to invest on.

I agree with this..banks have survive years..Maybe because of adopting to new situations...So I think if bitcoin would go mainstream, banks would also think of what they can offer to counter and slow down bitcoin, so probably adoption of new technology like blockchain would be a great idea for banks...

Maybe they will adopt to blockchains technology. But I don't think banks will disappear. We are still using banks to exchange bitcoin to fiat. And I don't think exchanges from this two will ever disappear. Bitcoins growth will always be measured by how much it is worth in fiat.

We do not need banks to exchange the bitcoin to fiat. That can be done by the existing exchanges so far.

Not but in reality there are still many people who exchange bitcoin is still using the money to me, including me. Bitcoin will not make banks disappear and it is quite impossible. Bitcoin and banks are very different and can not compete with each other in my opinion.

Agree with your idea bitcoin cannot make bank dissapear because bitcoin still relays to banks so we can use it physically and bitcoin is unstable for today and banks are safest atorage than wallet.

Imoote

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Quote from: bamboylee on May 01, 2016, 01:53:02 AM

Quote from: bamboylee on May 01, 2016, 01:53:02 AM

I'm not trying to sound negative but there's a also a possibility that banks can make bitcoin disappear. You ask me how?
Banks might come up with their own version of a regulated bitcoin like product. Since banks have been around and people see them as trustworthy companies, people would think that their money would be safer there and they would have options to choose from in terms of what they'd like to invest on.

I agree with this..banks have survive years..Maybe because of adopting to new situations...So I think if bitcoin would go mainstream, banks would also think of what they can offer to counter and slow down bitcoin, so probably adoption of new technology like blockchain would be a great idea for banks...

Maybe they will adopt to blockchains technology. But I don't think banks will disappear. We are still using banks to exchange bitcoin to fiat. And I don't think exchanges from this two will ever disappear. Bitcoins growth will always be measured by how much it is worth in fiat.

We do not need banks to exchange the bitcoin to fiat. That can be done by the existing exchanges so far.

Not but in reality there are still many people who exchange bitcoin is still using the money to me, including me. Bitcoin will not make banks disappear and it is quite impossible. Bitcoin and banks are very different and can not compete with each other in my opinion.

Yaupgitda

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I'm not trying to sound negative but there's a also a possibility that banks can make bitcoin disappear. You ask me how?
Banks might come up with their own version of a regulated bitcoin like product. Since banks have been around and people see them as trustworthy companies, people would think that their money would be safer there and they would have options to choose from in terms of what they'd like to invest on.

I agree with this..banks have survive years..Maybe because of adopting to new situations...So I think if bitcoin would go mainstream, banks would also think of what they can offer to counter and slow down bitcoin, so probably adoption of new technology like blockchain would be a great idea for banks...

Maybe they will adopt to blockchains technology. But I don't think banks will disappear. We are still using banks to exchange bitcoin to fiat. And I don't think exchanges from this two will ever disappear. Bitcoins growth will always be measured by how much it is worth in fiat.

We do not need banks to exchange the bitcoin to fiat. That can be done by the existing exchanges so far.

bamboylee

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Quote from: blackmachinegun on April 30, 2016, 01:52:56 AM

I'm not trying to sound negative but there's a also a possibility that banks can make bitcoin disappear. You ask me how?
Banks might come up with their own version of a regulated bitcoin like product. Since banks have been around and people see them as trustworthy companies, people would think that their money would be safer there and they would have options to choose from in terms of what they'd like to invest on.

I agree with this..banks have survive years..Maybe because of adopting to new situations...So I think if bitcoin would go mainstream, banks would also think of what they can offer to counter and slow down bitcoin, so probably adoption of new technology like blockchain would be a great idea for banks...

Maybe they will adopt to blockchains technology. But I don't think banks will disappear. We are still using banks to exchange bitcoin to fiat. And I don't think exchanges from this two will ever disappear. Bitcoins growth will always be measured by how much it is worth in fiat.

Hugroll

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im definitely sure that no where in the near future bitcoin will make banks dissappear. banks play a major role in the economy that cant be replaced by a cryptocurrency. like peoples loans from banks, people take loans to pay mortgages and stuff and bitcoin as a currency doesnt allow for that.

MingLee

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Quote from: Zaduca on April 29, 2016, 03:08:14 AM

yes, bitcoin is a revolutionary. bitcoin has many advantages compared with banks. I was very pleased with bitcoin, and bitcoin better than banks. banks will lose a place in the public eye.

I think although bitcoin has many users still many people will continue to use fiat to the transaction of their lives. and to save bank fiat money would be much needed. bank life depends on the fiat if fiat continues to win against bitcoin. certainly the bank will continue to live

As I've seen mentioned by other users on this forum, fiat will always exist because of the government, and Bitcoin will exist as an alternative or a sort of reserve currency if it is adopted by a large enough portion of the population (86%+) and is recognized by every other government, AND the USD is replaced.

Bitcoin's advantage is that it is a very divisible currency, that is always appreciating (technically speaking), and is easily moveable with maybe a half-hour maximum wait time, will next to no chance of failure if everything is done correctly.

darkmagician

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banks will never disappear, but the good news is bitcoin and banks will help each other in giving people fullfill thier dreams,
i want banks and bitcoin become as partners.

romero121

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bitcoin and the associated block chain can cost the cost of banks and make them more profit. Banks will adopt it eventually.

If such situation arise, banks would try to take control of bitcoin. This will create a Same environment same as banking with some investment and lending scheme. We won't be getting such possibility to earn bitcoin.

blackmachinegun

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Quote from: matanx on April 29, 2016, 04:37:24 AM

yes, bitcoin is a revolutionary. bitcoin has many advantages compared with banks. I was very pleased with bitcoin, and bitcoin better than banks. banks will lose a place in the public eye.

I think although bitcoin has many users still many people will continue to use fiat to the transaction of their lives. and to save bank fiat money would be much needed. bank life depends on the fiat if fiat continues to win against bitcoin. certainly the bank will continue to live

Imoote

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i think bitcoin do not make bank disappear but it make company to be a bank more easy.
for example, ANX in Hong Kong provide debit card and bitcoin saving. in my view it like bank

Yes bitcoin really can not compete with banks because banks are not going to disappear any time until disappearing because if will affect the country's economy. But if the banks with bitcoin work together it would be good in my opinion.

waltercoin2016

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I don't think it can... Rather I would predict to be a co-existing situation with bitcoins and banks. For example, I am using HSBC while I am using ANX, no conflict with each other.

matanx

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i think bitcoin do not make bank disappear but it make company to be a bank more easy.
for example, ANX in Hong Kong provide debit card and bitcoin saving. in my view it like bank

Scottoshi

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The banks most certainly are aware of the risk of getting 'Uber'ed' themselves, but they wouldn't admit it outright and have to maintain an image of forward-thinkers and protectors of "public welfare" and "market stability".

ECB said:

Quote

We will have to reflect to what extent it affects our role as the trusted third party for the settlement of payments and securities in central bank money, or as the issuer of risk free base money as anchor of monetary policy.

https://news.bitcoin.com/central-banks-fedspeak-bitcoin-fear/

Erzatium

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Bitcoin will make only the banks disappear if Bitcoin is the most used payment method in the world otherwise it would be not possible because it is not most used now.
And it can be only possible later in the future when the value is rising also because otherwise people will not use it.

n0ne

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yes, bitcoin is a revolutionary. bitcoin has many advantages compared with banks. I was very pleased with bitcoin, and bitcoin better than banks. banks will lose a place in the public eye.

That won't happen, however the technology grow there will be certain people who depend upon banking. When bitcoin goes mainstream only the users who were aware of digital growth use it.

Zaduca

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bitcoin and the associated block chain can cost the cost of banks and make them more profit. Banks will adopt it eventually.

akosimakulit

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Absolutely not. Bitcoin can be a great currency on the online field and for conducting transactions throughout the world.

Imoote

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