Can Bitcoin make Banks disappear? - page 287.

lister storm

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Quote from: BitcoinPaw on April 05, 2016, 02:51:05 PM

Quote from: Zaun on April 05, 2016, 02:31:05 PM

It can let banks disappear but I think it will not happen because the bitcoin is growing but banks are also growing in the digitally world so it would be difficult to do this honestly.
Maybe in the future there is a chance, but I think its also bad that the bitcoin is fully digital, bank will always be a step a head.

Banks are more trusted and powerfull they can rule the economics and when they doing it it's also affect bitcoin i guess.

banks are more trusted? you must be new to the whole financial system we have right now, banks are controlling everything and they are making money out of people money also a lot of banks go bankrupt

i think that unfortunately it can not do that right now but i believe it will surely be possible in the future after a few years when there will be more people interested

iram66680

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I don't agree that banks are needed by society. We can be free of banks if bitcoin just becomes the main currency of the world then what need would we need of banks since they carry only fiat currency.
Sure they have gone digital because to change with the times due to the customer's convenience. But to me even more of a convenience is bitcoin being used everyday for everyday things.

BitcoinPaw

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Quote from: Zaun on April 05, 2016, 02:31:05 PM

It can let banks disappear but I think it will not happen because the bitcoin is growing but banks are also growing in the digitally world so it would be difficult to do this honestly.
Maybe in the future there is a chance, but I think its also bad that the bitcoin is fully digital, bank will always be a step a head.

Banks are more trusted and powerfull they can rule the economics and when they doing it it's also affect bitcoin i guess.

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It can let banks disappear but I think it will not happen because the bitcoin is growing but banks are also growing in the digitally world so it would be difficult to do this honestly.
Maybe in the future there is a chance, but I think its also bad that the bitcoin is fully digital, bank will always be a step a head.

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Quote from: sana54210 on April 05, 2016, 08:39:19 AM

Quote from: n691309 on April 03, 2016, 07:39:22 AM

When you exchange bitcoin to fiat money most of the time it goes through banks so you can't disappear banks.

I believe sooner or later people will stop converting bitcoins into fiats when they are able to directly use bitcoin for their spending purposes.

Quote from: n691309 on April 03, 2016, 07:39:22 AM

The same is also when buying bitcoins through your debit card or bank account it goes through bank.

When you are getting paid directly with bitcoins there is no need of buying it with your fiats.

I hope like you that bitcoin will be used everywhere, but still would be a need to convert to fiat because not everyone will accept bitcoin even for the next 20years, but the bitcoin debit card is a good innovation and bitcoin could be used mostly everywhere.

ronaldinho_07

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Bank has a lot power at your money,mine ,they rule it the way they wanna,lending and when you need it they ask you for what.I had this problem and i said look this money is mine you are just making me a service leting it safe,and im paying for this ,inst free ,i wanna my money now,and close mine account,thanks and have a nice day.Bitcoin has no power to make banks disappear but can reduce the power they have at our money.

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Quote from: QuestionAuthority on April 05, 2016, 07:52:34 AM

Yes, banks will completely disappear and no one in the world will ever buy a house, car or boat again. rofl

It's not possible to make banks to get disappear. Only usage of bitcoin might increase on large adoption. This will reduce the bank use but never make banks disappear.

a7mos

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Quote from: rektDude on April 05, 2016, 04:22:16 AM

The chance is really small, there are a lot of people that is still using their banks and that is really important for them so that is not possible that it can make banks disappear.
But we all know that Bitcoin is becoming more popular but there are also a lot of people that dont even know what Bitcoin is.

I agree with you that the chance is low. it is not going to happen before people discover that they can not get access to their money in banks except with their will. Then they will see bitcoin as a good alternative

Kartikay

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Quote from: gkv9 on April 03, 2016, 12:28:23 PM

Quote from: Kartikay on April 03, 2016, 11:02:50 AM

No!!!!
This is impossible!
People have more trust in banks than in bitcoins.
Humans believe more in physical things than in virtual. Young generation is still more adaptable to virtual world but older ones are adamant towards baking system.

Some time back, people said that Bitcoins will never reach $100, it reached, they thought it would never go $1000, it went way above it...
Never underestimate the power of such technology which has Microsoft using it, they must have something in mind when they chose Bitcoins...

See I stated that because bitcoin is in it's infancy state. There are many loopholes in this currency system, it need to develop more and that will take some time. Say after 50 years or 100 bitcoins might replace banks and fiat system but at present they will not!

sana54210

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Quote from: n691309 on April 03, 2016, 07:39:22 AM

When you exchange bitcoin to fiat money most of the time it goes through banks so you can't disappear banks.

I believe sooner or later people will stop converting bitcoins into fiats when they are able to directly use bitcoin for their spending purposes.

Quote from: n691309 on April 03, 2016, 07:39:22 AM

The same is also when buying bitcoins through your debit card or bank account it goes through bank.

When you are getting paid directly with bitcoins there is no need of buying it with your fiats.

QuestionAuthority

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You lead and I'll watch you walk away.

Yes, banks will completely disappear and no one in the world will ever buy a house, car or boat again. rofl

umaOuma

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Its difficult to imagine that banks will disappear in future, banks will be more powerful in future and people who are satisfied with banking system will never switch to bitcoins.

withche.07

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I think banks will adopt blockchains more and more.
So they won't disappear at all.

rektDude

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The chance is really small, there are a lot of people that is still using their banks and that is really important for them so that is not possible that it can make banks disappear.
But we all know that Bitcoin is becoming more popular but there are also a lot of people that dont even know what Bitcoin is.

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Quote from: arwin100 on April 05, 2016, 01:11:57 AM

Quote from: Imoote on April 05, 2016, 12:25:02 AM

Quote from: KennyR on April 04, 2016, 09:39:13 PM

Quote from: Bestwishes745 on April 04, 2016, 04:29:58 PM

Quote from: aron.t on April 04, 2016, 03:22:26 PM

I dont think banks will dissapear, multi billion and since life exists cant be exctinted by new era anyway i would love they really dissapear from this earth (bloddydiscustingsuckers)

The banks are not only here to keep your money but they also have a number of other financial affairs, and are maintaining financial affairs of a number of organizations, companies and government etc.

If you examine the current statics of bank users. Almost every citizen has a bank account. Whether its been used or not, even some countries its been made mandatory to have a account to withdraw government funds transferred to citizens. Really very tough to make banks disappear.

Yes very true very difficult if not impossible to make bitcoin banks disappear. And some people still redeem bitcoin to cash and transfer to the account of banks. Banks in the financial world still very much needed and very difficult to remove.

All i can say bitcoin cant replace bank its impossible its very risky to put all your money in online wallets it is more attracting to hackers no system is safe for them. While mostly transaction and more big transaction are made in banks and big money is safer their if u put your wealth in banks.

In terms of safety bitcoin has got lots of features if someone afraid of online hacking. Bitcoin as a digital currency has not reached most population, when usage increases the bank usage might get reduced.

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Quote from: Imoote on April 05, 2016, 12:25:02 AM

Quote from: KennyR on April 04, 2016, 09:39:13 PM

Quote from: Bestwishes745 on April 04, 2016, 04:29:58 PM

Quote from: aron.t on April 04, 2016, 03:22:26 PM

I dont think banks will dissapear, multi billion and since life exists cant be exctinted by new era anyway i would love they really dissapear from this earth (bloddydiscustingsuckers)

The banks are not only here to keep your money but they also have a number of other financial affairs, and are maintaining financial affairs of a number of organizations, companies and government etc.

If you examine the current statics of bank users. Almost every citizen has a bank account. Whether its been used or not, even some countries its been made mandatory to have a account to withdraw government funds transferred to citizens. Really very tough to make banks disappear.

Yes very true very difficult if not impossible to make bitcoin banks disappear. And some people still redeem bitcoin to cash and transfer to the account of banks. Banks in the financial world still very much needed and very difficult to remove.

All i can say bitcoin cant replace bank its impossible its very risky to put all your money in online wallets it is more attracting to hackers no system is safe for them. While mostly transaction and more big transaction are made in banks and big money is safer their if u put your wealth in banks.

Imoote

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Quote from: KennyR on April 04, 2016, 09:39:13 PM

Quote from: Bestwishes745 on April 04, 2016, 04:29:58 PM

Quote from: aron.t on April 04, 2016, 03:22:26 PM

I dont think banks will dissapear, multi billion and since life exists cant be exctinted by new era anyway i would love they really dissapear from this earth (bloddydiscustingsuckers)

The banks are not only here to keep your money but they also have a number of other financial affairs, and are maintaining financial affairs of a number of organizations, companies and government etc.

If you examine the current statics of bank users. Almost every citizen has a bank account. Whether its been used or not, even some countries its been made mandatory to have a account to withdraw government funds transferred to citizens. Really very tough to make banks disappear.

Yes very true very difficult if not impossible to make bitcoin banks disappear. And some people still redeem bitcoin to cash and transfer to the account of banks. Banks in the financial world still very much needed and very difficult to remove.

KennyR

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Quote from: Bestwishes745 on April 04, 2016, 04:29:58 PM

Quote from: aron.t on April 04, 2016, 03:22:26 PM

I dont think banks will dissapear, multi billion and since life exists cant be exctinted by new era anyway i would love they really dissapear from this earth (bloddydiscustingsuckers)

The banks are not only here to keep your money but they also have a number of other financial affairs, and are maintaining financial affairs of a number of organizations, companies and government etc.

If you examine the current statics of bank users. Almost every citizen has a bank account. Whether its been used or not, even some countries its been made mandatory to have a account to withdraw government funds transferred to citizens. Really very tough to make banks disappear.

Bestwishes745

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Quote from: aron.t on April 04, 2016, 03:22:26 PM

I dont think banks will dissapear, multi billion and since life exists cant be exctinted by new era anyway i would love they really dissapear from this earth (bloddydiscustingsuckers)

The banks are not only here to keep your money but they also have a number of other financial affairs, and are maintaining financial affairs of a number of organizations, companies and government etc.

aron.t

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I dont think banks will dissapear, multi billion and since life exists cant be exctinted by new era anyway i would love they really dissapear from this earth (bloddydiscustingsuckers)

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