Can Bitcoin make Banks disappear? - page 327.

Spoetnik

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Quote from: tommygunyeah on February 11, 2016, 03:00:29 PM

Well, I wouldn't say dissapearing forever and ever, but, isn't getting away from the bank system one of the main reasons people start using bitcoin in the first place?

I was reading a page on Bitcoin via Google recently.
And they said it was to eliminate the middle man and remove fee's.. for fast transactions.
hhhmmm LOL

Bitcoin has no TX fee's ?
There is no such thing as BTC middlemen ?
How long how you waited for BTC show up before ?

vs. say using Interec eTransfer™
I had used then with LocaBitcoins+BTC and it was instantaneous !
It was far quicker then waiting fro the BTC to show up.
And easier to start using.. vs doing Bitcoin address crap.
all i had to do was hand over my email address name.

Quote

When someone sends you an Interac e-Transfer, you will receive a notification via email or text message indicating a transfer has been sent to you

I am not AGAINST Bitcoin but i think it deserves criticism to help improve it !
I have almost no BTC but i would like to see it succeed.

So lets be realistic & honest about it's flaws and work on them.

blackmachinegun

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Quote from: boby-2 on February 11, 2016, 03:55:22 AM

banks are the worst nightmare and bitcoin is a life saver but still i dont think bitcoin can make banks disapper i think bitcoin still needs some time to make a place in everyones mind. peoples blindly trust on banks but dnt trust blindly on bitcoin :p

yeah for now I can not mention the bank as a competitor bitcoin, even I think that the bank was very helpful bitcoin
it took a lot of time, for bitcoin could be in the hearts of all people,

diegz

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Quote from: tommygunyeah on February 11, 2016, 03:00:29 PM

Well, I wouldn't say dissapearing forever and ever, but, isn't getting away from the bank system one of the main reasons people start using bitcoin in the first place?

for some, yes, specially those rich one, but for more, bitcoin is more income generating commodity and sold it to fiat when needed.. so still, bank is there waiting...

Bitcoinbro

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I think the bitcoin can do it for sure.

The question is when and how soon will it be.

It will take years to even let the bitcoin do it, but its possible.

tommygunyeah

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Well, I wouldn't say dissapearing forever and ever, but, isn't getting away from the bank system one of the main reasons people start using bitcoin in the first place?

bargainbin

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Re: Can Bitcoin make Banks disappear?

https://www.google.com/search?q=neo+bee&ie=utf-8&oe=utf-8

yenxz

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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?

not,bitcoin will never make banks dissapear. have many reason to proff that it never gonna be happen.

Imoote

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Quote from: boby-2 on February 11, 2016, 03:55:22 AM

banks are the worst nightmare and bitcoin is a life saver but still i dont think bitcoin can make banks disapper i think bitcoin still needs some time to make a place in everyones mind. peoples blindly trust on banks but dnt trust blindly on bitcoin :p

Bitcoin will not be able to make the banks disappear. Since the bank is a financial institution of each country.
Maybe bitcoin could become a rival bank not to eliminate bank

boby-2

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banks are the worst nightmare and bitcoin is a life saver but still i dont think bitcoin can make banks disapper i think bitcoin still needs some time to make a place in everyones mind. peoples blindly trust on banks but dnt trust blindly on bitcoin :p

mickiya

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Quote from: Herbert2020 on February 11, 2016, 03:18:14 AM

since i believe that fiat as we know it is not going to go away in the future, i have to say banks which are working with cash/fiat are not going to disappear either.

even if bitcoin becomes big and adopted by all the people in the world , cash is still going to be around. so banks will be around too.

Banks will stay for ever. They will adapt to the new environment. They may not be like what we see today.

Herbert2020

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since i believe that fiat as we know it is not going to go away in the future, i have to say banks which are working with cash/fiat are not going to disappear either.

even if bitcoin becomes big and adopted by all the people in the world , cash is still going to be around. so banks will be around too.

Lutzow

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Quote from: Spoetnik on February 11, 2016, 12:49:13 AM

Quote from: Mitchow on February 06, 2016, 03:44:54 PM

Quote from: wearepoor on February 06, 2016, 02:13:25 PM

Its not possible at this moment or in the coming decade, banks are globally trusted by the people whereas people are still hesitating to use the bitcoins in the daily routine transactions as they dont have enough knowledge about bitcoins and also there is lack of trust. It will take some more time to be a popular currency among the people.

Exactly, bitcoin still needs a support from people and some time to grow and be more popular in coming future, once it gains the popularity world wide then are possibilities that it would disappear banking systems, but still a long way to go.

NOPE.

It's cute how sooooo many of you think this though.
I have heard it for years.

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.

FinTech ?
Gotta love them snazzy new Trending Buzzwords these days LOL

Repeating myself yet AGAIN like a broken record ? Roll Eyes

I almost didn't want to post this becuase i will be saying it again.. what is the point talking about BTC ?

so.. NO ..it will not "disappear banking systems" LOL

Well said mate, there are a lot of bitcoin fanatics that are no longer being realistic. There are so many places in the world where bitcoin won't be adopted even in the next few decades.

hawkins

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for now I think it will not happen, the bank has not owned bitcoin all, can say the bank is the perfect form of bitcoin. bitcoin is currently not known by many people, and not in trust people, in contrast to banks that already from the first gain public confidence

Spoetnik

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Quote from: Mitchow on February 06, 2016, 03:44:54 PM

Quote from: wearepoor on February 06, 2016, 02:13:25 PM

Its not possible at this moment or in the coming decade, banks are globally trusted by the people whereas people are still hesitating to use the bitcoins in the daily routine transactions as they dont have enough knowledge about bitcoins and also there is lack of trust. It will take some more time to be a popular currency among the people.

Exactly, bitcoin still needs a support from people and some time to grow and be more popular in coming future, once it gains the popularity world wide then are possibilities that it would disappear banking systems, but still a long way to go.

NOPE.

It's cute how sooooo many of you think this though.
I have heard it for years.

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.

FinTech ?
Gotta love them snazzy new Trending Buzzwords these days LOL

Repeating myself yet AGAIN like a broken record ? Roll Eyes

I almost didn't want to post this becuase i will be saying it again.. what is the point talking about BTC ?

so.. NO ..it will not "disappear banking systems" LOL

bitcoinboy12

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Quote from: pooya87 on February 11, 2016, 12:16:47 AM

Quote from: diegz on February 11, 2016, 12:00:46 AM

Quote from: lrdeoliveira on February 10, 2016, 03:34:57 AM

Quote from: Altynbekova on February 10, 2016, 03:31:47 AM

I do not think that could happen especially because a lot of people and businesses need the banks.

Many people have cash that they need.

Some people do not even know what Bitcoins.

yes, this is the point, a lot of businesses need the credit or lending from the bank, whitout bank a lot of businesses would not exists

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...

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.

And in that case, FIAT and banks will definitely stay especially in the third world countries were even the Internet connection are not good enough to even access your wallet in mobile devices.

pooya87

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Quote from: diegz on February 11, 2016, 12:00:46 AM

Quote from: lrdeoliveira on February 10, 2016, 03:34:57 AM

Quote from: Altynbekova on February 10, 2016, 03:31:47 AM

I do not think that could happen especially because a lot of people and businesses need the banks.

Many people have cash that they need.

Some people do not even know what Bitcoins.

yes, this is the point, a lot of businesses need the credit or lending from the bank, whitout bank a lot of businesses would not exists

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...

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.

diegz

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Quote from: lrdeoliveira on February 10, 2016, 03:34:57 AM

Quote from: Altynbekova on February 10, 2016, 03:31:47 AM

I do not think that could happen especially because a lot of people and businesses need the banks.

Many people have cash that they need.

Some people do not even know what Bitcoins.

yes, this is the point, a lot of businesses need the credit or lending from the bank, whitout bank a lot of businesses would not exists

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...

lrdeoliveira

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Quote from: Altynbekova on February 10, 2016, 03:31:47 AM

I do not think that could happen especially because a lot of people and businesses need the banks.

Many people have cash that they need.

Some people do not even know what Bitcoins.

yes, this is the point, a lot of businesses need the credit or lending from the bank, whitout bank a lot of businesses would not exists

Altynbekova

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I do not think that could happen especially because a lot of people and businesses need the banks.

Many people have cash that they need.

Some people do not even know what Bitcoins.

Imoote

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Quote from: mickiya on February 08, 2016, 03:34:38 PM

Quote from: eon89 on February 07, 2016, 11:11:30 AM

Don't get your hopes up. Bitcoin is something, banks are something else. Each has a purpose in its own place.

They can also work together. If the banks adopts bitcoin, it will reduce its costs and earn more profits.

Bitcoin and bank indirectly interconnected because a lot of people who transfer the money from selling bitcoin to their accounts.
I think bitcoin does not need to join the bank because it was not necessary.

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