Can Bitcoin make Banks disappear? - page 302.

MrCat

newbie

Activity: 12

Merit: 0

Quote from: maxg on January 11, 2016, 09:45:41 PM

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 as WE know it may disappear, but banks generally will not disappear.

I believe no... If Bitcoins become really that succeful in the future then banks will find a way to include bitcoins aswell.. they are not stupid

harizen

legendary

Activity: 3122

Merit: 1398

For support ➡️ help.bc.game

Because some people really enjoying the benefits of bitcoin they are experiencing today, that is not a big factor to make banks dissapear.

It's impossible even for long years if you will learn deeply the system behind bitcoin and bank.

Rather replacing the bank desire, just enjoy the current status of bitcoin and take advantage of it.

honeyhtet

full member

Activity: 126

Merit: 100

Bitcoin "Can" make banks disappear IMO, but that would be a long and slow process and would not happen overnight.. And definitely not with the current bitcoin adoption and how it looks like in the eyes of the majority.

Imoote

sr. member

Activity: 714

Merit: 250

Quote from: n0ne on March 13, 2016, 10:39:54 AM

Simply making banks disappear is not possible. Due to the increasing price and the increased adoptions bitcoin usage will increase, but this won't pave path to make banks get disappear.

Any later bitcoin want to grow even until its peak I think bitcoin will not make banks disappear because it is not possible at all. Banks are the most powerful financial institution in the world and every country in desperate need of banks to economic activity.

gerXhonza

hero member

Activity: 812

Merit: 1000

Quote from: n0ne on March 13, 2016, 10:39:54 AM

Simply making banks disappear is not possible. Due to the increasing price and the increased adoptions bitcoin usage will increase, but this won't pave path to make banks get disappear.

Yeah, banks can never get disappear even if the bitcoin gets on the mainstream as we would find many people who will have strong faith in using bank services as they are used to it since a long time.

n0ne

hero member

Activity: 2646

Merit: 548

DGbet.fun - Crypto Sportsbook

Simply making banks disappear is not possible. Due to the increasing price and the increased adoptions bitcoin usage will increase, but this won't pave path to make banks get disappear.

jethrorn99

full member

Activity: 224

Merit: 100

Quote from: fravia on March 12, 2016, 02:41:55 PM

yeah after a few decades it surely can make the banks go extinct if there will be mass adoption and if people will start learning that bitcoin is the best currency in the world

i hope this will soon happen as we need to take down banks because of huge fees and the disallowance of using money at any time you want

I think decades will not be enough to kill fiat, since fiat is still used everywhere in the world.

hundreds of years from now maybe, but not decades.

Imoote

sr. member

Activity: 714

Merit: 250

Quote from: Hellacopter on March 13, 2016, 01:36:59 AM

In fact people will still using both bitcoin and banking services for long time, in my opinion. Banking couldn't disappear because of Bitcoin as very large number of people worldwide prefer to use it till now, in the other hand Bitcoin is growing up and it's community is growing as well.

Yes true even when the person has enough bitcoin transfer directly to banks by selling them first. Banks can not just disappear simply with bitcoin for any person or body definitely need bitcoin, that's for sure.

BlueStackz

legendary

Activity: 1204

Merit: 1028

Quote from: Hellacopter on March 13, 2016, 01:36:59 AM

In fact people will still using both bitcoin and banking services for long time, in my opinion. Banking couldn't disappear because of Bitcoin as very large number of people worldwide prefer to use it till now, in the other hand Bitcoin is growing up and it's community is growing as well.

Yes 99% of the people around the world using both bitcoin and bank right now. But when people are coming to realize that bitcoin is enough to do their banking requirements, then the percentage of people using both will start to fall down.

Hellacopter

hero member

Activity: 742

Merit: 500

In fact people will still using both bitcoin and banking services for long time, in my opinion. Banking couldn't disappear because of Bitcoin as very large number of people worldwide prefer to use it till now, in the other hand Bitcoin is growing up and it's community is growing as well.

West man

sr. member

Activity: 252

Merit: 250

BetcoinRakeback.com

Sure if they get together an agree on one thing and focus on that goal to achieve it to take over the entire financial sector from those corrupt bank systems.

Kollor

sr. member

Activity: 266

Merit: 250

No, it can't we are now in the age where technology can now be copied...Bank owners are clever enough to see why bitcoin is going strong as it matures, and most probably one day, they will do their best to cope up with it and survive...

steveds

legendary

Activity: 966

Merit: 1000

Quote from: nejibens on March 12, 2016, 06:35:55 PM

Quote from: fravia on March 12, 2016, 02:41:55 PM

yeah after a few decades it surely can make the banks go extinct if there will be mass adoption and if people will start learning that bitcoin is the best currency in the world

i hope this will soon happen as we need to take down banks because of huge fees and the disallowance of using money at any time you want

I don't think so mate, at least in our nearest future. People worldwide use banking services and there is a minority till now use bitcoin and know some things about this crypto currency.

That is the first and foremost thing people need to realize but everyone needs mass adoption which is so not required.

Quote from: Pab on March 12, 2016, 08:38:07 PM

No banks will make disappear by themself all his frauds manipulations loses it is easy to lose for them becouse thay are loosing not his own money that industry need to change

What fraud manipulations are you talking about ? banks carry professional investigation services in attempt to stop fraud and to inquire more info on the transactions.They stop scams in most of the cases but they keep track of every transaction and have their control over it but bitcoin doesn't.

Pab

legendary

Activity: 1862

Merit: 1012

No banks will make disappear by themself all his frauds manipulations loses it is easy to lose for them becouse thay are loosing not his own money that industry need to change

romero121

legendary

Activity: 3234

Merit: 1214

Casinopunkz - Anonymous Crypto Casino

Quote from: nejibens on March 12, 2016, 06:35:55 PM

Quote from: fravia on March 12, 2016, 02:41:55 PM

yeah after a few decades it surely can make the banks go extinct if there will be mass adoption and if people will start learning that bitcoin is the best currency in the world

i hope this will soon happen as we need to take down banks because of huge fees and the disallowance of using money at any time you want

I don't think so mate, at least in our nearest future. People worldwide use banking services and there is a minority till now use bitcoin and know some things about this crypto currency.

As suggested by above mate, its not true to make bank disappear. Banking services will continue for a long, because banking system is the best accepted economic system in the world.

nejibens

hero member

Activity: 672

Merit: 500

Quote from: fravia on March 12, 2016, 02:41:55 PM

yeah after a few decades it surely can make the banks go extinct if there will be mass adoption and if people will start learning that bitcoin is the best currency in the world

i hope this will soon happen as we need to take down banks because of huge fees and the disallowance of using money at any time you want

I don't think so mate, at least in our nearest future. People worldwide use banking services and there is a minority till now use bitcoin and know some things about this crypto currency.

fravia

hero member

Activity: 770

Merit: 500

CryptoTalk.Org - Get Paid for every Post!

yeah after a few decades it surely can make the banks go extinct if there will be mass adoption and if people will start learning that bitcoin is the best currency in the world

i hope this will soon happen as we need to take down banks because of huge fees and the disallowance of using money at any time you want

eddyubachs

hero member

Activity: 812

Merit: 1000

Quote from: nejibens on March 11, 2016, 09:12:05 AM

Quote from: ?? on ??

IMO it can make banks disappear but it will take a long time before it can happen certainly, we just need to wait for it see what happens and if that will happen overall... The banks are even starting to somehow like the block system though.

I think people will need to use the banks even if Bitcoin conquer the world, but banks will be in this case a lot less used than nowadays.

Banks will always come in limelight by showing their presence, and I don't think that even if bitcoin becomes a global currency people would stop using banks as they are more used to it and they will surely keep on using both.

jchst

sr. member

Activity: 252

Merit: 250

Banks even with their own problems and security being of them,and the other has showed at Greece the government acts to avoid bankrupt ,because we all know our money looks like to be there but is lending or at some forex trades involved.

Hellacopter

hero member

Activity: 742

Merit: 500

People will need both wallets and banks in my opinion, Bitcoin is needing a long time to being used worldwide as first global currency instead fiat, and banks will help to advertise it by exchange the coins to other currencies.

Topic: Can Bitcoin make Banks disappear? - page 302. (Read 427641 times)