Topic: Can Bitcoin make Banks disappear? - page 337. (Read 427643 times)
In my opinion I don't want to happen and I guess it will not happen banks has been here thousands of years ago we should not be all to dependent on crypto currency they can co- exist and they will do good with each other,banks has a lot of function beside governing the fiat or monetary system of the worlld
I think bitcoin don't make banks disappear, bitcoin also need online bank though. like blockchain.info is a wallet also like a bank for bitcoin. maybe banks can try accept bitcoin to save in real life bank.
If real life banks accepts bitcoin as depositing value. They will put a charge for that as well. Better I feel in future also bitcoin should work alone without includation of bank. If bitcoin can do some big changes in international market. Sure Siemens change will come.
I think bitcoin don't make banks disappear, bitcoin also need online bank though. like blockchain.info is a wallet also like a bank for bitcoin. maybe banks can try accept bitcoin to save in real life bank.
Banks will stay forever because of regulations and normal business practices. In most of Europe, it is impossible to get a phone line without a bank account. The phone company will tell you that it doesn't want to do business with you. No phone, so no Internet and no BTC. Same for utilities.
I actually explored this exact topic in a recent blog post you should find interesting.
Bitcoin alone will not be the end of the banks, but the end of the banks may well be coming.
Check it out: http://pondpolitics.com/2015/12/should-banks-fear-bitcoin/
Bitcoin alone will not be the end of the banks, but the end of the banks may well be coming.
Check it out: http://pondpolitics.com/2015/12/should-banks-fear-bitcoin/
I think average people's intelligence has not reached a level that they can live without banks
The power of bitcoin is big, but not big. I think in the end banks will develop their own bitcoin and force it onto their customers.
Problem is they must make it way cheaper else people will still go with bitcoin.
Problem is they must make it way cheaper else people will still go with bitcoin.
The current banking system as we used to know it are dissapearing any way... not because of primarily Bitcoin... but due to online banking services becoming more common. You
can do almost anything online these days, and the physical bank and all their employees are not really necessary anymore. Yes, there are some storage facilities that cannot be
replaced with online options, but the rest can be replaced. Bitcoin will just speed up this process, because it replace the necessity of a intermediary.
can do almost anything online these days, and the physical bank and all their employees are not really necessary anymore. Yes, there are some storage facilities that cannot be
replaced with online options, but the rest can be replaced. Bitcoin will just speed up this process, because it replace the necessity of a intermediary.
As long as there is demand for banks and its services, there is no reason for banks to disappear, just like any other business. Just one thing to add, without banks, fiat cannot exist, because banks are the only ones who creating money out of nothing when lending money (thats fiat main function) - if anybody else create new money out of nothing, it is considered counterfeit instead - so fiat, as most love it, can not exist without banks.
Yeah I don't get why people are saying that banks will all collapse because of Bitcoin. Banks will adapt and start offering Bitcoin related services to stay relevant (otherwise they may actually go extinct but I doubt it.)
As long as there is demand for banks and its services, there is no reason for banks to disappear, just like any other business. Just one thing to add, without banks, fiat cannot exist, because banks are the only ones who creating money out of nothing when lending money (thats fiat main function) - if anybody else create new money out of nothing, it is considered counterfeit instead - so fiat, as most love it, can not exist without banks.
No, just no, this is just not going to happen
Like someone said on the first page, the world is ruled by bankers
Can you imagine what will happen to the stock market? To wall street?
Like someone said on the first page, the world is ruled by bankers
Can you imagine what will happen to the stock market? To wall street?
No.
There are more people using banks than bitcoin right now.
This won't change over night. Some people are used to what they are using right now.
They won't just adapt in a flash.
There are more people using banks than bitcoin right now.
This won't change over night. Some people are used to what they are using right now.
They won't just adapt in a flash.
Yeah lets say for me in my family they use banks I don't think they will just like to see bitcoin growing and bank disappearing.
I think the bank will just convert the money of the people to bitcoin, but they are to much people that they don't use bitcoin so yeah.
Exactly, there are just way too many people in the world who are depending on a bank
They still need it to use it on a day to day basis. Why would even bitcoin make banks dissapear?
Cryptocurrencies will kill banks eventually but not today or in a short term. Maybe banks adapt it to survive. 
There is no way that banks will just disappear like I think we will see banks using more bitcoin.
People also don't use bitcoin so I will just difficult to go away.
People also don't use bitcoin so I will just difficult to go away.
No I don't think so. Bitcoin en banks should work together.
Not banks stealing the technology and keep their monopoly.
With cooperation many things can be achieved.
Not banks stealing the technology and keep their monopoly.
With cooperation many things can be achieved.
Still people here don't like giving there bitcoin to the bank they just prefer having in there pc.
That is the point of bitcoin I think that you have more freedom with it.
I am just happy that I can have my own money in my own control.
You should never (if that's ever going to be an option) give any bitcoins to your bank. They will take it and use it for their own investments without you knowing. This is one of the reasons I don't like to keep money in the bank. But I have to because I have no other option.
No I don't think so. Bitcoin en banks should work together.
Not banks stealing the technology and keep their monopoly.
With cooperation many things can be achieved.
Not banks stealing the technology and keep their monopoly.
With cooperation many things can be achieved.
Still people here don't like giving there bitcoin to the bank they just prefer having in there pc.
That is the point of bitcoin I think that you have more freedom with it.
I am just happy that I can have my own money in my own control.
No I don't think so. Bitcoin en banks should work together.
Not banks stealing the technology and keep their monopoly.
With cooperation many things can be achieved.
Not banks stealing the technology and keep their monopoly.
With cooperation many things can be achieved.
who the heck say banks will disappear because of bitcoin, its just dumb sentence when people who's using bitcoin still withdraw their bitcoin to their bank account,
and also if bitcoin can't be withdrawn to bank people will thinking twice to use this coin
and also if bitcoin can't be withdrawn to bank people will thinking twice to use this coin
It's because there are a few people out here who think bitcoin is everything
Bitcoin is only a small part of something in this world. Having those high expectations will only dissapoint you
Bitcoin might someday have power to make banks change or evolve. But they will likely not disappear. There is too much money and tradition at stake, and bankers tend to be cunning enough to adapt and not let themselves die.
But yes, I expect some change.
But yes, I expect some change.
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?
"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 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. Or maybe even others that are not in my mind now.
Jump to: