Can Bitcoin make Banks disappear? - page 28.

8Habits

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Quote from: Ethernel on January 01, 2018, 01:19:09 PM

No it will not disappear bitcoin as banks are not currency with which bitcoin is in competition and the banks will sooner start working with bitcoin as the banks job is to work with currencies and bitcoin is a currency.
And may be Bitcoin itself require the need of banks if it took physical shape.

That is true, bitcoin was not design to take over banks which are already an institution in the financial world. Soon, it will be possible that banks will incorporate bitcoin and the concept of blockchain in their system.

Ethernel

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No it will not disappear bitcoin as banks are not currency with which bitcoin is in competition and the banks will sooner start working with bitcoin as the banks job is to work with currencies and bitcoin is a currency.
And may be Bitcoin itself require the need of banks if it took physical shape.

Sandal_Hat

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Banks will lose some biz, not all.

8Habits

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Quote from: cybersofts on January 01, 2018, 11:01:29 AM

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.

The beauty of cryptocurrenciy compared to fiat money is that when you have plenty of money deposited to both bitcoin wallet and with your fiat bank, many people including the government would know in the latter but not that much in the former.

nextcrypto2401

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no it never happens

tot-o

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lols.... of course not....
Country's bank won't disappear because some people still choose to put their earnings in the bank.....

cybersofts

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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.

TheWinnerBro

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I don't think banks will ever go away or dissapear.
They can evolve and make it to where you don't need physical money
But it will still be the same, you will still need a bank account

Karie_Legend

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●●

Quote from: jack8989 on January 01, 2018, 10:17:16 AM

bitcoin will hardly destroy banks in the future because rightnow banks are developing and changing themselves to become the better and more friendly, gaining more trust from users, making people hard to quit on banks, so if bitcoin want to defeat banks that will be a big problem to be solved in the future.

It's the same thing with the Bank going to mingle with Bitcoin and Bitcoins work so the Bank will not die.

jack8989

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StartFi

bitcoin will hardly destroy banks in the future because rightnow banks are developing and changing themselves to become the better and more friendly, gaining more trust from users, making people hard to quit on banks, so if bitcoin want to defeat banks that will be a big problem to be solved in the future.

deango

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Quote from: BTCBinary on January 11, 2016, 09:40:58 PM

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?

Bank will not disappear, it maybe change and start to use or work with cryptocurrency, but the banks will always be here because people that not understand encrypt and money will need theme.

Nissan-GTR

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The Exchange for EOS Community

Quote from: Rude Boy on January 11, 2016, 10:09:46 PM

I think, banks will not be disappear. Instead, they'll start using bitcoins instead of fiat currency with some regulations like in fiat.

Yes thats true, even though banks were a threat to Bitcoin because they keep saying Bitcoin is not worth investing place where in you cannot have your money a better one than they could do, something like that , I still believe that Banks will still be functional.

shainasaz

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I don't really think, Bitcoin make banks disappear. The bank will just convert the money and the bank adopted the Blockchain to give us a better and faster experience.

KingScorpio

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Quote from: BTCBinary on January 11, 2016, 09:40:58 PM

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?

banks will dissappear anyway, we dont need bitcoin for that, cause they are so overregulated, that young people cant fullfill the requirements, and only billionaires can afford to found a bank

but bitcoin helps the creation fo new banks they will be cryptobanks,

Alfinopogi

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Quote from: BTCBinary on January 11, 2016, 09:40:58 PM

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?

No that is impossible. Because you can see that of course many people are now using Bitcoin, but you never know what will happen with the value and that is the problem. And i hope later that there will be more people that use Bitcoin. But many people must use banks because it is really important for them.

aryani

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Banks are scrambling right now to incorporate the blockchain,They are fighting a war they can't win.The banks just don't know what the war is all about. Once small businesses start taking bitcoin, the end will soon be behind. The only part of the bank that is "wanted" by the people is lending,This will be filled with some future bitcoin bank

haster100

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Bitcoin won't make banks disappear but over the coming years we can see banks that adopt the technology of bitcoin for their growth as well to get increased users. bitcoin can transform the global payments

boakyei

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It is not possible for bitcoins to let banks go out of existence. Banks have been facilitating swift transfer and remitance for traders to buy /sell bitcoins on exchanges. Besides, Bitcoins fees are much higher than banks and only few people who can go extra mile to take the risk of using bitcoins will stick to it while the majority will still be with the banks.

xGeraValerax

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On December 12, Israeli Prime Minister Binyamin Netanyahu openly commented on the future of banking. He believes that blocking technology will replace traditional banks.

"The fate of the banks lies in their disappearance." Yes, will this happen tomorrow? Is this due to bitcoin? This is in question. "

Md Faysal

member

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Merit: 11

That true, everyone agreed that bitcoin agree, that bitcoin will not make banks disappear. perhaps the most appropriate reason for this is that these are not as good as the current bitcoin bank. banks already have systems that are very intense over bitcoin. and if bitcoin grows, so does the bank.bitcoin make banks disappear.

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