Can Bitcoin make Banks disappear? - page 332.

Supercrypt

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Quote from: joinal on January 27, 2016, 01:29:49 AM

Quote from: praprata on January 26, 2016, 11:37:04 AM

I don't think so. Everyone need a bank. Because they have money in cash.
If there are no bank people has no storage for there money. So its really important.

bitcoin now could be your bank. many countries, which already provides atm bitcoin
now you don't need a bank to withdraw your money, you just need bitcoin wallet, and you can take cash in Atm bitcoin, very easy

Yes, but without using bitcoin an ATM also, I find all the features of banking system with the bitcoin wallet itself. Yes, my bitcoin wallet is more equivalent ot my internet banking facility.
Many people are predicting banks will adopt bitcoin ecosystem. But I predict banks will convert into a system similar to Bitcoin. Like there will be no physical banks.

joinal

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Quote from: praprata on January 26, 2016, 11:37:04 AM

I don't think so. Everyone need a bank. Because they have money in cash.
If there are no bank people has no storage for there money. So its really important.

bitcoin now could be your bank. many countries, which already provides atm bitcoin
now you don't need a bank to withdraw your money, you just need bitcoin wallet, and you can take cash in Atm bitcoin, very easy

Imoote

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Quote from: adam48 on January 26, 2016, 11:21:18 PM

Quote from: akosimakulit on January 26, 2016, 10:49:40 PM

Quote from: stadus on January 20, 2016, 11:17:41 AM

Bitcoin can make new banks stronger. If a bank integrates bitcoin in its payment system and provides bitcoin related service, this bank will be very popular.

Yes. I agree.

several cities in my country there has atm machines bitcoin. I agree with you Bitcoin can make new banks.

I want to know whether atm bitcoin has a system similar to a regular bank atm? In my area there is no such thing atm bitcoin.
Yes I suppose it could change some system

adam48

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Quote from: akosimakulit on January 26, 2016, 10:49:40 PM

Quote from: stadus on January 20, 2016, 11:17:41 AM

Bitcoin can make new banks stronger. If a bank integrates bitcoin in its payment system and provides bitcoin related service, this bank will be very popular.

Yes. I agree.

several cities in my country there has atm machines bitcoin. I agree with you Bitcoin can make new banks.

akosimakulit

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Quote from: stadus on January 20, 2016, 11:17:41 AM

Bitcoin can make new banks stronger. If a bank integrates bitcoin in its payment system and provides bitcoin related service, this bank will be very popular.

Yes. I agree.

commandrix

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The best case scenario that I see is Bitcoin carving out a niche and competing on an equal footing with banks. Maybe include a few other cryptocurrencies that can handle a lot of microtransactions fast (I think somebody mentioned vending machines in another thread).

knowhow

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We cant think about it todays,we must think about the future of bitcoin and well there is a huge road to bitcoin and huge plans to be used and become the first crypto coin to being mass adopted over the world,dont we dream with cars flying.. the future has bitcoin connected .

Dr.Osh

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I guess not, banks have different roles with bitcoin, as reliable storage for public money, the making of money, and borrowing money in the real world and if the bank does not exist, there may be economic damage

praprata

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I don't think so. Everyone need a bank. Because they have money in cash.
If there are no bank people has no storage for there money. So its really important.

Altynbekova

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Not its not possible, banks are always needed for people.
Not everyone is gonna use bitcoins for payments.
Plus the most bitcoin is digital and online and I do not see people pay online wit bitcoin.

tbterryboy

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Quote from: jt byte on January 26, 2016, 10:51:11 AM

I do not see it happen, too many people are dependent on banks.
Many people do not trust bitcoin because of the name it has.

Bitcoin is digital and banks will always be required for physical contact.
I think its not possible.

I am unable to agree this. When people go digital there is no need of physical cash and contacts. I guess even banks will get shut down and we can manage banks like Paypal accounts. This way bitcoin will replace banks.

jt byte

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I do not see it happen, too many people are dependent on banks.
Many people do not trust bitcoin because of the name it has.

Bitcoin is digital and banks will always be required for physical contact.
I think its not possible.

diodio5

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Quote from: fenican on January 25, 2016, 11:23:12 PM

Not until:

1. Deposits are guaranteed
2. Transactions are reversible
3. High transaction volume and user adoption
4. Near instant verification
5. Technology is distributed not controlled by a few miners in China

May happen eventually but not sure if BTC can get us there

I think it is impossible to deposit guarentee, lol
I think it is not possible, who will replace the money from the guarantee ?
bitcoin is decentralization bro

xuan87

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no its impossible that bitcoin can make bank disappear,in every country they have their own fiat, and that people need bank as a place to store their money, and bank which i mean is real bank that can guarantee their money

Imoote

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Perhaps for private banks that can still happen, but for the national bank was not possible because the bank could go bankrupt if the country's economy is also being dropped. Bitcoin might not be able to make disappear even bitcoin bank can work with several banks.

elizabethqueen

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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?

it could happen,but need long time for bitcoin to make bank dissapear,bitcoin must be accepted on every counrties in this world. but if bitcoin develop slowly,it maybe impposible.

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Quote from: SuperCoinGuy on January 26, 2016, 03:54:15 AM

Bitcoin will probably not make the banks disappear but it will make them offer better services in the future.

Well since banks are now looking unto the blockchain tech there is the possibility of that I believe.

avw1982

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Quote from: ?? on ??

Quote from: watashi-kokoto on January 24, 2016, 09:58:24 AM

Bitcoin itself is a bank, so: NO.

Wrong, bitcoin is decentralized, but decentralized wallet itself is a bank.
If you put your money on online wallet or exchange, it means you're not the bank anymore (just a customer).

But, i think all money processor/transfer service will dissapear in future when bitcoin is commonly used.

As he said bitcoin wallet is regarded as a bitcoin bank, accepted. But as he said all money process, transfers, transactions, purchase will disappear when bitcoin is commonly used is not right because bitcoin wallet and bitcoins will act as a alternate technology through which the above quotes can be performed but the banks remain and do their responsible functions

Newcoins2020

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I do not think so. because everybody would have cash. so you still need a bank.

Many people do not even know what Bitcoin is. So not many people have Bitcoins.

SuperCoinGuy

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Bitcoin will probably not make the banks disappear but it will make them offer better services in the future.

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