Topic: Can Bitcoin make Banks disappear? - page 320. (Read 427643 times)
I don't think so. Bit coin never do thatn
I think that the banks will not disappear. They may be developed further, change the way of the actual existence but I think that will survive. Always will be need for money in big plans or projects, or even in various situations of everyone of us. May be a place when are offered the needed warranties that something can go without problems and take the needed money (or tools which may replace those). Be this the time of the actual us dollar and be the tomorrow one when maybe will be the day of bitcoin or the cryptos. Even in the probably time of only the cryptos will exist such needs. And even with the most sophisticated crypto in existence will exist always a hacker which can be able to steal or break the security of our personal wallets. Or people which will offer crypto but not security. It is another thing a bank. In all the previous problems...
Of course but if you need money you don't make a loan to bank money. Actually the loan of the bank is the money of somebody else so maybe we should loan to people directly it would be better than having a bank making fees for everyone and controlling the world
Absolutely not , banks could just adopt into the currency of bitcoin from which there would be bitcoin banks ...
Yeah but for now banks have no plans for that.They just hate bitcoin because the fee is very low
Just imagine a situation when there is no need of converting bitcoin into fiat. That is the point where the fall down of current banking system starts.
I think that the banks will not disappear. They may be developed further, change the way of the actual existence but I think that will survive. Always will be need for money in big plans or projects, or even in various situations of everyone of us. May be a place when are offered the needed warranties that something can go without problems and take the needed money (or tools which may replace those). Be this the time of the actual us dollar and be the tomorrow one when maybe will be the day of bitcoin or the cryptos. Even in the probably time of only the cryptos will exist such needs. And even with the most sophisticated crypto in existence will exist always a hacker which can be able to steal or break the security of our personal wallets. Or people which will offer crypto but not security. It is another thing a bank. In all the previous problems...
Absolutely not , banks could just adopt into the currency of bitcoin from which there would be bitcoin banks ...
Banks are fucking useless. They're here only to take your money! Why would you need it! Absolutely not , banks could just adopt into the currency of bitcoin from which there would be bitcoin banks ...
Yeah but for now banks have no plans for that.They just hate bitcoin because the fee is very low
Bitcoin transfers are usually irreversible when there is at least one confirmation. This makes it hard for attackers to reverse without controlling significant percentage of the network or a long block reorganization... If transactions are reversible, the first option will never exist. Unless you are talking about a Paypal/bank approach which allows for chargeback. However, it is a must for a neutral party to meditate the transaction. With Bitcoin being trustless, the only way to do so is, as Amph mentioned, Multisig with escrow or a third party service.
Also, merchants can accept Bitcoin with little to no cost or loss. It wouldn't make sense if the merchant only wants to install a POS with Bitcoin integration when there is a large volume. Transactions are verified instantly by nodes when transactions are sent. If you're talking about confirmations, there isn't a need for confirmations with smaller valued transactions such as buying a coffee due to the difficulty of initiating a double spend as of now.
Also, merchants can accept Bitcoin with little to no cost or loss. It wouldn't make sense if the merchant only wants to install a POS with Bitcoin integration when there is a large volume. Transactions are verified instantly by nodes when transactions are sent. If you're talking about confirmations, there isn't a need for confirmations with smaller valued transactions such as buying a coffee due to the difficulty of initiating a double spend as of now.
Nope. all people will need bank.
how important it is when one large people such as George Soros pull all their money out of the bank, the currency of a country could be faltering you know
how important it is when one large people such as George Soros pull all their money out of the bank, the currency of a country could be faltering you know
Why? Why would people need banks???
With btc you can store your money safely so why would you need a bank?
You want to buy a house, but don't have $1 million? That's where the bank comes in.
You mean lending?
Well lending by crowdfunding is definitely the solution here, especially with btc it becomes really easy!
Nope. all people will need bank.
how important it is when one large people such as George Soros pull all their money out of the bank, the currency of a country could be faltering you know
how important it is when one large people such as George Soros pull all their money out of the bank, the currency of a country could be faltering you know
Why? Why would people need banks???
With btc you can store your money safely so why would you need a bank?
You want to buy a house, but don't have $1 million? That's where the bank comes in.
Nope. all people will need bank.
how important it is when one large people such as George Soros pull all their money out of the bank, the currency of a country could be faltering you know
how important it is when one large people such as George Soros pull all their money out of the bank, the currency of a country could be faltering you know
Why? Why would people need banks???
With btc you can store your money safely so why would you need a bank?
I dont think that it can happen. Many people doesnt even know what Bitcoin is.
And people need some normal banks too. They dont know the online wallets.
And people need some normal banks too. They dont know the online wallets.
Nope. all people will need bank.
how important it is when one large people such as George Soros pull all their money out of the bank, the currency of a country could be faltering you know
how important it is when one large people such as George Soros pull all their money out of the bank, the currency of a country could be faltering you know
I think the big investors do not need the bank, they have places to invest their money. Ordinary people need the bank.
Exactly. And majority of the population will always be "ordinary" people. BTC will be taken seriously sooner or later. But i dont think it will come to a certain extent that it will be the only currency system there will ever be.
Well, that could only happens if Fiat money is gone completely.
That is almost impossible.
That is almost impossible.
Nope. all people will need bank.
how important it is when one large people such as George Soros pull all their money out of the bank, the currency of a country could be faltering you know
how important it is when one large people such as George Soros pull all their money out of the bank, the currency of a country could be faltering you know
I think the big investors do not need the bank, they have places to invest their money. Ordinary people need the bank.
I think there will be less bank in the future. But there will be a couple banks. The online wallets is indeed very good.
Apparently Bitcoin can make banks appear! Insured banks nonetheless
NB Caution - seems like a scam. A normal bank lends out the money it has on deposit which might even come back to the bank as a deposit to be lent out again... and again and again (fractional-reserve banking). In effect they are creating the money supply - this is not possible with Bitcoin as it has a finite supply and is limited to 25 new coins every 10 minutes (at least until July). You can't simply print up new Bitcoins to feed such a system. A Bitcoin bank (in the traditional sense) is not a sustainable entity.
That being said, traditional banks are not going to disappear. They are needed to increase the money supply; at least until the entire monetary system is revamped. The Bitcoin movement is not organized enough or large enough to accomplish that. It is a wonderful niche however.
NB Caution - seems like a scam. A normal bank lends out the money it has on deposit which might even come back to the bank as a deposit to be lent out again... and again and again (fractional-reserve banking). In effect they are creating the money supply - this is not possible with Bitcoin as it has a finite supply and is limited to 25 new coins every 10 minutes (at least until July). You can't simply print up new Bitcoins to feed such a system. A Bitcoin bank (in the traditional sense) is not a sustainable entity.
That being said, traditional banks are not going to disappear. They are needed to increase the money supply; at least until the entire monetary system is revamped. The Bitcoin movement is not organized enough or large enough to accomplish that. It is a wonderful niche however.
Weel, many people have cash that they need. Some people do not even know what Bitcoins. Anda lot of businesses need the credit or lending from the bank, whitout bank a lot of businesses would not exist. Sad but true, most of the people in almost every country is still dependent on fiat and they know what to do with it and how to run it, but bitcoins, they may know this, but still they are more interested on fiat, so they really need the bank. Actually this has always been the way. the traditional ways of living are hard to change, people tend to stick to those familiar ways and not be willing to change it unless something really beneficial comes along that makes it easy to switch. but bitcoin is not at that stage yet... 
Crypto hippies with their head in the clouds that don't know about finance, economics etc. That assertion relies on FIAT vanishing. As long as FIAT exists Banks will exist. Fiat is not going anywhere ! Maybe in 50 or a 100 years but now that is so far off it doesn't even matter. We might as well be talking about teleportation & flying cars. Many people don't even have a bank account.. or a Computer or cell phone. I hate to break it to you 1st world problem guys but the reality is much of the world is poor and will never ever have the reasonable means to use electronic devices that Bitcoin relies on. And there is no way a digital currency that relies on the Internet being up and powered with electricity 24/7 forever can replace REAL tangible hold in your hand currency. Banks exist to "handle" money ..real money ! REAL Money is not going anywhere. You people are delusional cheerleaders.
Nope. all people will need bank.
how important it is when one large people such as George Soros pull all their money out of the bank, the currency of a country could be faltering you know
how important it is when one large people such as George Soros pull all their money out of the bank, the currency of a country could be faltering you know
I think the big investors do not need the bank, they have places to invest their money. Ordinary people need the bank.
Bitcoin and banks are two really different things that deal with different money, so there's no threat really for that,
Practically I do not see any difference between bank account and my bitcoin wallet. Not in quicker time, but slowly people will understand the truth and no need of traditional banking system while we are having bitcoin ecosystem to bank with. 
Bitcoin and banks are two really different things that deal with different money, so there's no threat really for that,
really agree with you, bitcoin and bank is diferent. they can not be compared directly. especially if both are equally alive, they will not bring down each other, I would be happy, if the bank in cooperation with bitcoin. it could have been donebut the thing about bitcoin is that you can be your own bank and not need anybody else to keep your money safe. but there are some benefits of banks like the profit they give on your money, giving loans, etc which makes them different.
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