Can Bitcoin make Banks disappear? - page 307.

Nemesis099

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Quote from: lixer on March 06, 2016, 01:36:49 PM

Quote from: darewaller on March 06, 2016, 02:10:16 AM

Quote from: dhimasnk on March 05, 2016, 06:54:34 PM

I do not think so. The Bank is one
important part in the world economy

But bitcoins can themselves have their own bank and the tax saving feature would be able to attract a lot of customers. When bitcoins get more popularity, the importance of banks may diminish over time.

However, if the Government takes the control then bitcoins would be a bigger problem for customers compared to fiat. It
would not make banks disappear though as people will always prefer to own fiat along with bitcoins.

People are using bitcoins only because its decentralized, if the government will take control over it in future, then it will loose all its value and shine, and people would not bother to use bitcoins.

lixer

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Quote from: darewaller on March 06, 2016, 02:10:16 AM

Quote from: dhimasnk on March 05, 2016, 06:54:34 PM

I do not think so. The Bank is one
important part in the world economy

But bitcoins can themselves have their own bank and the tax saving feature would be able to attract a lot of customers. When bitcoins get more popularity, the importance of banks may diminish over time.

However, if the Government takes the control then bitcoins would be a bigger problem for customers compared to fiat. It
would not make banks disappear though as people will always prefer to own fiat along with bitcoins.

knowhow

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Well bitcoin borned with the low cost transaction fees and to take out the banks and governements the control our your money,returning it to us .I dont know where bitcoin can take us but banks and governments are and keep stealing fiat to them soo till the day that stop we will be trusting our fiat into bitcoin that looks like to be more safe,and we can offer the same services as banks ,lending,crowfunding and more projects,the thing is banks will loose costumers if they dont adopt the crypto currencie over the time.

Red-Apple

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one of the biggest goals of bitcoin was to make banks disappear. with all the decentralization it offers it actually has the potential to do that too.
but not yet. bitcoin needs to get bigger than this to do such a big task. because we are still in need of banks for all our financial needs.

noormcs5

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Yes one day bitcoins can really make bank disappear.

You will see, that time not so far away.

panju1

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Quote from: Nandiwal on March 06, 2016, 02:47:05 AM

I think it will never happen. bank will stay always. coz its not possible for everyone to use a single currency worldwide. also not all people use a single way to purchase everything. people like always something new things that why Bitcoin exist today. hope BTC will become most usable currency worldwide in future.

Banks and single currency have no correlation. Banks are a recent phenomenon. Multiple currencies have existed across the world for ages. Banks provide multiple services to people, not all of which can be replaced by bitcoin.

ObscureBean

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Simple answer is no, it cannot.
As it stands banks don't see Bitcoin as a threat simply because the technology is still very very far from being able to provide a global solution that rivals their own system in terms of stability and dependability. Why would anyone want Bitcoin to make banks disappear anyway? Bitcoin is not perfect, both Bitcoin and banks have their advantages and disadvantages, it would be a lot more beneficial to everyone if the two coexisted or even merged.

newcoins1978

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It will of course not happen. That is impossible. Everyone need banks and that is very normal, I think.
You never know what will happen in the future. But not everyone know Bitcoin and that is a problem for Bitcoin.

Nandiwal

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I think it will never happen. bank will stay always. coz its not possible for everyone to use a single currency worldwide. also not all people use a single way to purchase everything. people like always something new things that why Bitcoin exist today. hope BTC will become most usable currency worldwide in future.

Imoote

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Quote from: justspare on March 06, 2016, 02:26:57 AM

Banks and Bitcoin are here to stay. But that doesn't mean that banks are going to disappear just because of Bitcoin.

Yeah right I believe that the bank will not disappear because bitcoin because I think they are different and are not interconnected. Any later bitcoin will not affect the bank and vice versa.

justspare

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Banks and Bitcoin are here to stay. But that doesn't mean that banks are going to disappear just because of Bitcoin.

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Quote from: darewaller on March 06, 2016, 02:10:16 AM

Quote from: dhimasnk on March 05, 2016, 06:54:34 PM

I do not think so. The Bank is one
important part in the world economy

But bitcoins can themselves have their own bank and the tax saving feature would be able to attract a lot of customers. When bitcoins get more popularity, the importance of banks may diminish over time.

The important part of world economy is no longer enough to compete with digital world. That is the point where the problem for banks starts. The bitcoin's popularity may make banks disappear for sure.

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Quote from: dhimasnk on March 05, 2016, 06:54:34 PM

I do not think so. The Bank is one
important part in the world economy

But bitcoins can themselves have their own bank and the tax saving feature would be able to attract a lot of customers. When bitcoins get more popularity, the importance of banks may diminish over time.

ajun96

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Quote from: sallymeeh27 on March 04, 2016, 12:11:12 PM

I don't think that banks may disappear even bitcoin is on high demand. Still banks will operate at this times, but banks may operate or transact with bitcoins. This kind of conclusion may happen in the future or sooner. I am actually looking forward for more business with bitcoin..

if the demand of the market is huge. The time course bitcoin already dominate the market just as COMMODITIES. instead of currency. this is just my prediction. because most bitcoin users are investor or trader. so I'm confident with it. banks will not disappear or cooperate with bitcoin although big demand

CryingMidget

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Quote from: dhimasnk on March 05, 2016, 06:54:34 PM

I do not think so. The Bank is one
important part in the world economy

People don't understand the real power of the Bitcoin network. cut the banks, refuse devaluate and inflationist currencies. People earn too much, make actually, to use Bitcoin at is real value and utility.Keep saving bitcoin to make big profit.

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Quote from: dhimasnk on March 05, 2016, 06:54:34 PM

I do not think so. The Bank is one
important part in the world economy

Yeah that is true, investors use it very much, even us, we have bitcoin but most of us has a bank account...even if bitcoin goes mainstream, I think bank would always be there and might probably be using the same technology as bitcoin...

MTBTT

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Quote from: sallymeeh27 on March 04, 2016, 12:11:12 PM

I don't think that banks may disappear even bitcoin is on high demand. Still banks will operate at this times, but banks may operate or transact with bitcoins. This kind of conclusion may happen in the future or sooner. I am actually looking forward for more business with bitcoin..

it might just happen. when bitcoin began widely used by people in over the world, it is not impossible that. the bank will also be support for storage bitcoin or transactions using bitcoin

dhimasnk

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I do not think so. The Bank is one important part in the world economy

BitsandBites

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Quote from: HostSurf on March 05, 2016, 03:49:37 PM

Quote from: apriyoni on March 05, 2016, 02:56:43 PM

Quote from: n0ne on March 05, 2016, 09:30:16 AM

It won't happen in a short time or too. Making banks disappear is like not using money for our daily needs.
Bitcoin is known to only a few percentage of people. Also to stop banking services no one will support.

The bitcoin will make the banks more profit if they adopt it. It will cut their cost quite a lot and make the service more flexible.

Bitcoin will take profits away from banks, but banks will always be there. There are just to powerfull to blow away.
In the end their monopoly will reign for century's.

I don't think that banks will ever be gone. They are just too big. Most of them control the financial markets
And their power/ influence

MyBTT

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Quote from: apriyoni on March 05, 2016, 02:56:43 PM

Quote from: n0ne on March 05, 2016, 09:30:16 AM

It won't happen in a short time or too. Making banks disappear is like not using money for our daily needs.
Bitcoin is known to only a few percentage of people. Also to stop banking services no one will support.

The bitcoin will make the banks more profit if they adopt it. It will cut their cost quite a lot and make the service more flexible.

There aren't enough people using Bitcoin yet. And how would they make any profit, people would still buy Bitcoin from exchanges.

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