Topic: Can Bitcoin make Banks disappear? - page 335. (Read 427643 times)
The real question that you should be asking is whether Bitcoin will take over fiat. If it did, banks would not be here anymore.
it really depends on how much traction bitcoin bitcoin can get. if alot of people learn about bitcoin and see what it can do, thers a very good possibility it can take over banks, but even if that happens im guessing tons of people woudlnt want to switch to bitcoin from their bank accounts.
Agree dude.depending on how famous btc but need a long term to replace bank, in other side btc also easy and fast to do transactionOr in future that bank also accepted btc money?i mean become bitcoin bank or etc..
it really depends on how much traction bitcoin bitcoin can get. if alot of people learn about bitcoin and see what it can do, thers a very good possibility it can take over banks, but even if that happens im guessing tons of people woudlnt want to switch to bitcoin from their bank accounts.
Agree dude.depending on how famous btc but need a long term to replace bank, in other side btc also easy and fast to do transactionOr in future that bank also accepted btc money?i mean become bitcoin bank or etc..
it really depends on how much traction bitcoin bitcoin can get. if alot of people learn about bitcoin and see what it can do, thers a very good possibility it can take over banks, but even if that happens im guessing tons of people woudlnt want to switch to bitcoin from their bank accounts.
Banks have deep pockets.
They can buy all the fintech companies they want and remain competitive.
They can buy all the fintech companies they want and remain competitive.
No bitcoin can not make banks disappear. Banks are not dependent on bitcoin, no matter how successful bitcoin might get in the future.
Bitcoin? No. But if a gov't decides that its currency will be a crypto, then the banks will not longer be necessary. The ones that survive will be those that shrink back down to a honest loans company.
Not when the people who believed in bitcoin's inception keeps going towards the cheese that the banks keep dangling infront of their faces. 
They have deep pocket to pay them as much as they want to work for them. Hence, this policy person that was working at coinbase getting on to try and obliterate bitcoin's growth.
He did this back on Nov.23 2015 but it is up in the news on coindesk now for some reason.
http://www.coindesk.com/coinbase-hires-former-senate-aide-house-congressional-liaison
They have deep pocket to pay them as much as they want to work for them. Hence, this policy person that was working at coinbase getting on to try and obliterate bitcoin's growth. He did this back on Nov.23 2015 but it is up in the news on coindesk now for some reason.
http://www.coindesk.com/coinbase-hires-former-senate-aide-house-congressional-liaison
I would like to see that happen, disappearing of banks sounds great. But unfortunately that will not happen. For me its hard to predict what will banks do about and with bitcoin but for sure they have some plans. What is for some bank couple million dollars, they can came in the game when ever they wish, maybe they are in now who can tell?
No bitcoin can not make banks disappear. Banks are not dependent on bitcoin, no matter how successful bitcoin might get in the future.
There are always going to be people who are using bitcoin without having another option.
There are always going to be people who are using bitcoin without having another option.
No, I don't think Bitcoin will make Banks disappear but it will create a separate space for itself. Too many world's finance operations are dependent on banks and therefore both of them will continue to co reside.
Banks don't need to fight against bitcoin. Since they can co-exist.
However bitcoin is taking away overhead of banks, and i can promise you they will try to make bitcoin dissapear.
It's their evil nature.
Bitcoins cannot be easily counterfeited. That will shut down the main revenue of banks. Of course, they'll fight it.
No, I don't think Bitcoin will make Banks disappear but it will create a separate space for itself. Too many world's finance operations are dependent on banks and therefore both of them will continue to co reside.
Banks don't need to fight against bitcoin. Since they can co-exist.
However bitcoin is taking away overhead of banks, and i can promise you they will try to make bitcoin dissapear.
It's their evil nature.
Banks would still exist--and so would many parts of the financial system--in a crypto-dominated economy. They might function differently and employ fewer people, but as others have mentioned, the capital allocation function is not trivial.
Banks has the trust of the costumers,people wont change soo fast their mind.Banks for some are trusted,even knowing that anytime they may bankrupt as their costumers withdraw all funds... banks will the most stay with nothing as they lended those to others...they work with others money,if all take all money out bank is gone... look at Greece financial problem that limited otherwise they would be closed....
I think it's a matter of convenience, not trust. When Bitcoin becomes more mainstream, banks will lose customers.
Banks could be loosing costumers,i have an investment for the next 25 years into bank that i cant do the same at bitcoin,because i dont know what may happen with bitcoin tomorrow,even with their fees they have a return option and project,that the most use and make it for long time.I could buy bitcoin over the 25 years with the same money i spent montly,but the risk the value being lower then the total i had spent to collect them is what the most people wont do any investment for the medium or long time into bitcoin.
This is today mate, in a few years cryptos will be as reliable as banks are today.
Banks has the trust of the costumers,people wont change soo fast their mind.Banks for some are trusted,even knowing that anytime they may bankrupt as their costumers withdraw all funds... banks will the most stay with nothing as they lended those to others...they work with others money,if all take all money out bank is gone... look at Greece financial problem that limited otherwise they would be closed....
I think it's a matter of convenience, not trust. When Bitcoin becomes more mainstream, banks will lose customers.
Banks could be loosing costumers,i have an investment for the next 25 years into bank that i cant do the same at bitcoin,because i dont know what may happen with bitcoin tomorrow,even with their fees they have a return option and project,that the most use and make it for long time.I could buy bitcoin over the 25 years with the same money i spent montly,but the risk the value being lower then the total i had spent to collect them is what the most people wont do any investment for the medium or long time into bitcoin.
This can't happen. Don't be fooled about the hype.
Bitcoin can do a lot of things, increase people's freedom in terms of money control, reduce costs while making transfers.
But no it can't make banks useless.
Bitcoin can do a lot of things, increase people's freedom in terms of money control, reduce costs while making transfers.
But no it can't make banks useless.
Yes, I don't think bitcoin can make banks disappear in any way. Fiat is fiat and banking system will not disappear.
But bitcoin, by it's increased users and more advantages, can surely stand a strong opposition to fiat and banking system.
I think I agree. It's the banks that will make the banks disappear. When people realize what a con job the banks have pulled on them, they only consider using a bank as a last resort.
This can't happen. Don't be fooled about the hype.
Bitcoin can do a lot of things, increase people's freedom in terms of money control, reduce costs while making transfers.
But no it can't make banks useless.
Bitcoin can do a lot of things, increase people's freedom in terms of money control, reduce costs while making transfers.
But no it can't make banks useless.
Yes, I don't think bitcoin can make banks disappear in any way. Fiat is fiat and banking system will not disappear.
But bitcoin, by it's increased users and more advantages, can surely stand a strong opposition to fiat and banking system.
This can't happen. Don't be fooled about the hype.
Bitcoin can do a lot of things, increase people's freedom in terms of money control, reduce costs while making transfers.
But no it can't make banks useless.
Bitcoin can do a lot of things, increase people's freedom in terms of money control, reduce costs while making transfers.
But no it can't make banks useless.
All too true. 20 years ago, would anyone predict that people would walk around with a powerful computer in their pocket and use it mostly for viewing cats?
Actually it was 22 years ago that someone said exactly that, and outlined a whole shopping list of necessary components for improved LCD flat screen handhelds, many to do with the battery power supply such as flat quartered microfarad inductors for the MHz buck dc-dc converter. I think what they said about cats was phrased as an 'I bet you that...' if someone puts a kitten in a pint glass, it will be simultaneously possible for one online name to send the picture of it to a few 'aaww, isn't it cute' luvvies' and another online name to send it to a few 'look at this .. its so mean to the kitten'... At the time, the Apple Newton was a nasty grey electric filofax and it was suggested that what they really wanted was more like The Hitchhikers' Guide to The Galaxy. Wikipedia online (without the name) was suggested as more viable than carrying around the whole lot yourself but 'that's the Encyclopedia Galactica :- full of mistakes for when the Russians read it'.
Banking system is upgrading itself automatically from time to time for the demand, security needs and vulnerabilities. All of us know about it very well. Bitcoin is a paperless currency. We do need banks for bitcoins too. Paper currency may not disappear even though bitcoin reaches moon. We would soon see dual currency operating banks.
Only about 3% of currencies are paper and coins. All the rest is nothing but bits in a computer. Paper currency is already disappearing. (If it was alive, it would be on the endangered species list.)
Banking system is upgrading itself automatically from time to time for the demand, security needs and vulnerabilities. All of us know about it very well. Bitcoin is a paperless currency. We do need banks for bitcoins too. Paper currency may not disappear even though bitcoin reaches moon. We would soon see dual currency operating banks.
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