Can Bitcoin make Banks disappear? - page 33.

wolfgang56

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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?

I don't think bitcoin can make banks disappear because there are still things that only banks can do, like producing bills and coins which people who are not that well-lived could only afford to get because not all people can use bitcoins in terms of what is its used.

olatslodi

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I do not think that Bitcoin will make Banks disappear. Crypto currencies have a separate use than fiat so both are needed for now. But no one knows what happen in the future. It might get reduced when people start thinking how to make it popular to get more money into bitcoin

odakorlina

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I do not think that Bitcoin will make Banks disappear. Banks have different purposes and functions like investments, loans, payroll functions on big companies and etc. It might be possible in the future there are chances that banks may adopt bitcoins or maybe soon the transaction through banks might get reduced when lot of users get involved into bitcoin.

daringdiscovered

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Quote from: jkinit2125 on December 21, 2017, 08:02:46 PM

I think Bitcoin can't. Banks are institutions helping to regulaye the money circulating in each countries. Banks are so important in an economy of a country.

Actually yes it can, bitcoin could do such thing like that to the banks, think, if bicoin would be the world's currency, then banks would be nonsense since bitcoin have their own wallet and I would not dare storing it in those bullshit banks that is only thinking on how they could get advantage on us to earn money.

1jaffa1

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Bitcoin will never make banks disappear. That is impossible. There are only 21 million of bitcoins in the future. That is the maximum amount possible if i am correctly informeted. So if everyone in the world should be paying with bitcoins, we should all have very very very small amounts of bitcoin. That is impossible. I Believe in bitcoin as another value with which you will be able to pay all over the world, as you do with doller, yen, pound, euro or so. All the values will have there own life as now, and nothing is going to disappear.

jkinit2125

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I think Bitcoin can't. Banks are institutions helping to regulaye the money circulating in each countries. Banks are so important in an economy of a country.

blackpete

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I think there's no reason that bank will disappear because of bitcoin.. bank is always safe than bitcoin.. bitcoin is for online money and banks are our local vault that we can securely save our money via banks. bitcoin has no stable price so that bitcoin is not the best option to save our money..

cutecute

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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?

I think bitcoin can't make bans disappear even if it is so popular and famous no one can make banks disappear. Yes bitcoin now having an issue to be the currency worldwide but some country are not approve to bitcoin in short bitcoin are not legal worldwide so how it can make banks disappear?

Loopper

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Quote from: wail3Bahwu on December 21, 2017, 06:58:41 PM

yes bitcoin rule that every one can have his one bank will make Banks disappear.Many stop trusting in bank and bitcoin is only connection bitcoin two pats only.

Only the bank can adjust its place with the Bitcoin at this time but if the bank is willing to do so Wink

Japinat

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Quote from: haster100 on December 21, 2017, 03:01:40 PM

I do not think banks can disappear too easily, it can only happen if the paper currency is not popular as btc, if people start using btc as much as they can, then banks can disappear if that does not happen, then the odds almost equal to 0 for me

It will be hard for the government to monitor bitcoin then, for sure there will be more problem in this world.
Bitcoin is good but it needs fiat and we want the people to realize that the centralized system will never be eliminated by just bitcoin, as long as our government is strong, the have the power to regulate everything and that means they will also serve the interest of the majority which is not bitcoin for sure.

wail3Bahwu

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yes bitcoin rule that every one can have his one bank will make Banks disappear.Many stop trusting in bank and bitcoin is only connection bitcoin two pats only.

haster100

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I do not think banks can disappear too easily, it can only happen if the paper currency is not popular as btc, if people start using btc as much as they can, then banks can disappear if that does not happen, then the odds almost equal to 0 for me

Crypto4K

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decentralize money

Quote from: JPCRYPTO2012 on December 20, 2017, 10:28:19 PM

Probably a big NO, bitcoin will indeed stay but bank instinction is impossible . We have here the central Bank isource of fiat or what we call physical money. Maybe it's still dificult to predict that bank will disappear cause not all the avearage people use to ,or have knowledge in bitcoin and there are countries forbidden the use of cryprocurrency so still relying in banks and fiat transcation. The more we have an advance mind the more the bank will also upgrade their way of services...

never stop believing...yes it is unlikely, but not impossible! WORK on a solution instead of doubting!

https://steemit.com/money/@hilarski/when-a-preacher-calls-out-the-banksters

morrisby25

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Quote from: Fizpok on November 21, 2017, 10:21:22 AM

Banks is not about currency they use. It is group of people, worldwide, that controls production, military and government. Bitcoin... it is just a way to send money.

Bank system is the most stongest system throughout the whole world and no one can affect the bank system even bitcoin because bank system are legalize throughout the whole world. Yes its true that bitcoin will decrease the users of bitcoin up to some extent.

JPCRYPTO2012

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Probably a big NO, bitcoin will indeed stay but bank instinction is impossible . We have here the central Bank isource of fiat or what we call physical money. Maybe it's still dificult to predict that bank will disappear cause not all the avearage people use to ,or have knowledge in bitcoin and there are countries forbidden the use of cryprocurrency so still relying in banks and fiat transcation. The more we have an advance mind the more the bank will also upgrade their way of services...

carlowell

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I don not think so. Bank will always be part of us no matter what. There may be changes but never will it come to a point that bank will disappear and for cryptos to run the world. There may be adaptions from banks. I even wished for them to accept bitcoin. It will add the security of my assets and it will make it easier to encash them.

wledgewil

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Making banks disappear requires more trust and involvement from the people to accept bitcoin and they should even know about bitcoin and the profits level of income in regards to FIAT and Bitcoin. When people understands this fact, they surely starts their transactions with bitcoin and then bitcoin make banks disappear.

Illuine

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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.

Idrilane

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Bitcoin’s economic model differs from that of a bank.Cryptocurrencies (bitcoin) might solve a problem that banks do too.

Hurine

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No, I highly doubt it. Bitcoin is a system that aims to facilitate transactions without the need for a bank.

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