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Topic: Can Bitcoin make Banks disappear? - page 283. (Read 427614 times)

M83
member
Activity: 61
Merit: 10
April 12, 2016, 06:22:42 AM
In theory it could make central banks dissapear. I think in the future regular fiat cash will eventually be replaced by digital cash.There's just too many advantages. I watched a documentary about counterfeit us bills the other day and there's billions of it being made and flooded into the market. The bills are so good that it's hard to tell them apart. Bitcoin solves this instantly. Bitcoin also solves the issue of banks being able to print it as they like which as we know devalues the currency whereas the opposite is true of bitcoin.
legendary
Activity: 1946
Merit: 1137
April 12, 2016, 06:15:48 AM
The difference is that Bitcoin isn't being stored in banks like fiat money is. That's a huge difference. Banks are always needed. If Bitcoin at some point gets its own value, then still banks are still needed as Bitcoin will most likely always be tied to fiat.

Indeed, if the physical coin of bitcoin becomes a trend. For example 1 btc coins, 1mbtc coins, become a trend, then a bank might be necessary. But we can not assure that since they are just coins, banks are used to store and secure paper money though.

i doubt if ever physical bitcoins become a thing, they will always as they are now will remain some sort of collections.
bitcoin is all about a revolutionary technology to change things not go back to the old fashioned ways money used to be. in that case there is paper money why should we even need bitcoin!
newbie
Activity: 28
Merit: 0
April 12, 2016, 05:31:06 AM
The difference is that Bitcoin isn't being stored in banks like fiat money is. That's a huge difference. Banks are always needed. If Bitcoin at some point gets its own value, then still banks are still needed as Bitcoin will most likely always be tied to fiat.

Indeed, if the physical coin of bitcoin becomes a trend. For example 1 btc coins, 1mbtc coins, become a trend, then a bank might be necessary. But we can not assure that since they are just coins, banks are used to store and secure paper money though.
legendary
Activity: 1232
Merit: 1091
April 12, 2016, 04:56:18 AM
No it will be not happened, because bitcoin is just like money and bank will save the money.  

The difference is that Bitcoin isn't being stored in banks like fiat money is. That's a huge difference. Banks are always needed. If Bitcoin at some point gets its own value, then still banks are still needed as Bitcoin will most likely always be tied to fiat.
hero member
Activity: 490
Merit: 500
April 12, 2016, 04:15:37 AM
Bitcoin needs to be more powerful to replace banks, and that is not possible at a moment, as banks are the most trusted organization and people don't trust bitcoin.
the bank is not an organization. bank is a company created by the government or the private sector who have a very big money. bitcoin impossible will make banks be disappearing.
even if the use of bitcoin still less with the use of paypal. I've looked at the data
hero member
Activity: 2954
Merit: 533
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April 12, 2016, 04:14:56 AM
I bet bitcoin can because there is many bitcoin user now. And once many nations accept bitcoins
it is possible to make banks disappear. Because it has fast transactions and more secured and because technology becomes
more modern now it can easily fit in the modern world and it can use in different ways in the internet.
The problem is the start, I doubt a real country would accept bitcoin right now and the news and directions of governments is more against bitcoin than with bitcoin, even banks are becoming interested in the block system so it can change how the economy looks...
Very precise, very difficult to bitcoin to make sure banks disappear because the state will help banks. As we know the country is in dire need banks to save money so it will not happen.
bank is one important factor in the bitcoin system... Bitcoin can't disappear them...
full member
Activity: 168
Merit: 100
April 12, 2016, 03:47:01 AM
its just like guess the future,its hard to answer is bitcoin can make bank disappear,because until now we have not find any bank with bitcoin payment,lets hope someday in 2020 his is will happen. or maybe bitcoin was not exist.


I dont think that bitcoin can make bank disappear even in the year 2020,banks are still strong and we users of bitcoin is still less and we need more than half the population to even compete with banks.
sr. member
Activity: 364
Merit: 250
April 12, 2016, 03:18:14 AM
Bitcoin cant replace banks,either their services,do you think someone will lend you 50 btc to you repay in 40 years?Do you really think this is going to happen?Banks products even being expensive they give you time something that bitcoin cant give .

That's depend really with the usability of Bitcoin worldwide. Nowadays it's not going to happen even in the nearest future because banking services are already used a lot more than Bitcoin , but if Bitcoin's currency conquer the world there is a possibility that things change
It can only replace it when Bitcoin is the most used payment method and if it is everywhere acceptable than we can talk about replacing but around this time it will be not possible.
There are millions of people that doesnt even know how Bitcoins works so you have to fix that problem first.
newbie
Activity: 28
Merit: 0
April 12, 2016, 02:37:56 AM
Well, yeah. Apparently tons of website offer a free wallets. You can be your own bank. People are not gonna be needing other banks if there were bitcoin banks. Simply because bitcoin banks will (maybe) not have any transaction fees for withdrawing or depositing money. Some banks have transaction fee if you withdraw from a different bank.
sr. member
Activity: 476
Merit: 250
April 11, 2016, 07:53:23 PM
Bitcoin cant replace banks,bitcoin members are hidden at adress ,if you lend or ask for a loan at bitcoin a large one how can you be sure you will get repaid since there is only one adress connected to it?Banks take the risks but they lend to those who they see can repay otherwise they refuse the credit.
legendary
Activity: 1414
Merit: 1002
= jasad =
April 11, 2016, 12:23:44 PM
its just like guess the future,its hard to answer is bitcoin can make bank disappear,because until now we have not find any bank with bitcoin payment,lets hope someday in 2020 his is will happen. or maybe bitcoin was not exist.
hero member
Activity: 742
Merit: 500
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April 11, 2016, 12:22:19 PM
Bitcoin needs to be more powerful to replace banks, and that is not possible at a moment, as banks are the most trusted organization and people don't trust bitcoin.

It is not the matter that people do not trust bitcoin, they do trust on bitcoin but those people who do not know about exchange and trade and are unable to maintain according to the price do not invest in bitcoin.
sr. member
Activity: 350
Merit: 251
Shit, did I leave the stove on?
April 11, 2016, 12:18:17 PM
Bitcoin doesn't have the potential to replace fiat it's impossible. Its ecosystem is too vulnerable to drastic changes overnight and no one in their right mind would want this to be the main currency of their country. Let Bitcoin be a great investment vehicle and buy your groceries with banknotes in the local supermarket.
hero member
Activity: 1568
Merit: 511
April 11, 2016, 12:05:55 PM
Don't really think it will but maybe implement btc into bank would be more viable Cheesy
hero member
Activity: 756
Merit: 500
I don't bite.
April 11, 2016, 12:05:07 PM
Bitcoin needs to be more powerful to replace banks, and that is not possible at a moment, as banks are the most trusted organization and people don't trust bitcoin.

Bitcoin has got the potential to replace or get used equal to bank when lot of people accept or start using bitcoin for their daily needs.
Bitcoin has the potential to replace the banks, but it will never be able to replace the banks. It is simply because the government won't allow anyone to do so as they like fiat more than digital money. Well, one day it could. Who knows?
legendary
Activity: 3234
Merit: 1214
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April 11, 2016, 12:01:10 PM
Bitcoin needs to be more powerful to replace banks, and that is not possible at a moment, as banks are the most trusted organization and people don't trust bitcoin.

Bitcoin has got the potential to replace or get used equal to bank when lot of people accept or start using bitcoin for their daily needs.
sr. member
Activity: 350
Merit: 250
April 11, 2016, 10:09:44 AM
Bitcoin cant replace banks,either their services,do you think someone will lend you 50 btc to you repay in 40 years?Do you really think this is going to happen?Banks products even being expensive they give you time something that bitcoin cant give .

That's depend really with the usability of Bitcoin worldwide. Nowadays it's not going to happen even in the nearest future because banking services are already used a lot more than Bitcoin , but if Bitcoin's currency conquer the world there is a possibility that things change
It is hard to say that, but many people need their banks and there are also a lot of people that dont even know what Bitcoins are so you must fix first that problem.
If it is more used and more people know that, than you can talk about it but not now around this time.
sr. member
Activity: 714
Merit: 250
April 11, 2016, 09:51:46 AM
Bitcoin cant replace banks,either their services,do you think someone will lend you 50 btc to you repay in 40 years?Do you really think this is going to happen?Banks products even being expensive they give you time something that bitcoin cant give .
Yes it all between bitcoin and banks have their respective advantages and I think banks still superior because it is not foreign at all in the community. Although bitcoin will culminate I believe still will not replace banks.
hero member
Activity: 742
Merit: 500
April 11, 2016, 09:44:31 AM
Bitcoin cant replace banks,either their services,do you think someone will lend you 50 btc to you repay in 40 years?Do you really think this is going to happen?Banks products even being expensive they give you time something that bitcoin cant give .

That's depend really with the usability of Bitcoin worldwide. Nowadays it's not going to happen even in the nearest future because banking services are already used a lot more than Bitcoin , but if Bitcoin's currency conquer the world there is a possibility that things change
sr. member
Activity: 476
Merit: 250
April 11, 2016, 09:39:39 AM
Bitcoin cant replace banks,either their services,do you think someone will lend you 50 btc to you repay in 40 years?Do you really think this is going to happen?Banks products even being expensive they give you time something that bitcoin cant give .
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