Topic: Can Bitcoin make Banks disappear? - page 36. (Read 427614 times)
Of course not. The banking system can not completely disappear. But at the same time, it adapts to the crypto currency, and will use it on an equal footing with the usual money.
Impossible. Bitcoin derives its value from the fact that the banking system and currency fiat exist. A bitcoin without $ is unthinkable... Don't be fooled, Bitcoin will never become a universal currency
Bitcoin users increases however it may takes a long process or run to make banks disappear. Banks have their own ways or strategies, and some other people are not yet educated about bitcoin.
It may take a long time even impossible if bitcoin beat the bank, because we know banks are supported by their respective countries to run smoothly, banks are assets in the country, so the government will not remain silent if the existence of banks is threatened by bitcoin.
There's no chance of banks getting disappeared for digital currency. There's no relation between banks and an online wallets. Banks are use for storing your money under Government's monitoring. Where the bitcoin's wallet gives zero guarantee. In order to disappear bank, digital currencies should replace paper money, which is impossible to happen.
I think Bank will use Bitcoin as one of currency as dollar, euro... to exchange
Over the course of time, Bitcoin became a medium of exchange (like USD, Euro or other currencies). The difference is that with fiat money, you can hold it physically. For a person to have BTCs, one must purchase it by using physical money. Given with this scenario, there's a zero chance to make cash (fiats) obsolete. Thus, making Banks puts into a position to stay where it is. However, if more individuals, businesses and companies move into Bitcoins, the more Bitcoin will be used as a payment option for transactions and salaries. That makes physical cash less significant and will make a detrimental effect on the banking system. If this continues, there will be a low volume of cash circulating throughout, that will further eradicate the system of banking that we know today.
Personally I think some people will always prefer a bank.. hence they'll be around for a while- certainly my lifetime!
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?
We all know that nothing can replace bank no matter what. Even bitcoin is the most known and is in the mainstream these days, it can't still replace banks. Many people still refuses to believe in bitcoin so I think that bankers would still entrust their money in banks. Banks are banks we all know that.
I think not ..Then if the banks would disappear, how could those CryptoUsers would cash out their cryptocurrencies? maybe in the early future a lot would find a way on that ..Cause here in our country were still depending in banks or other shops that send money..We cryptoUsers doesnt really depend them upon saving money and loans..But withdrawing our money..i guess We all do that??
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?
We all know that nothing can replace bank no matter what. Even bitcoin is the most known and is in the mainstream these days, it can't still replace banks. Many people still refuses to believe in bitcoin so I think that bankers would still entrust their money in banks. Banks are banks we all know that.
Trust only comes from familiarity. Once the mainstream user will be able to buy and use bitcoins easily trust will follow very quickly.
For reference look at the number of cars in 1900 vs 1913
http://www.businessinsider.com/5th-ave-1900-vs-1913-2011-3
Banks main function is to let people that have money store it and allow people that need money access to it.
Bitcoin and other cryptocurrencies might not make banks disappear completely.
But they will be the enforcers of change in the way we view our economic system (banks being one of important pillars)
Reduce the friction between parties
Lower financial companies overhead cost
Reduce the ability of companies to charge high fees.
However, the main challenge will be the user experience.
As long as the majority of people are not able to buy, sell and use bitcoins the current system will remain.
Bitcoin and other cryptocurrencies might not make banks disappear completely.
But they will be the enforcers of change in the way we view our economic system (banks being one of important pillars)
Reduce the friction between parties
Lower financial companies overhead cost
Reduce the ability of companies to charge high fees.
However, the main challenge will be the user experience.
As long as the majority of people are not able to buy, sell and use bitcoins the current system will remain.
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?
We all know that nothing can replace bank no matter what. Even bitcoin is the most known and is in the mainstream these days, it can't still replace banks. Many people still refuses to believe in bitcoin so I think that bankers would still entrust their money in banks. Banks are banks we all know that.
Obviously very different needs, complementary possibilities are certain, and obviously better like that.
Nice Idea, still for a long term the banks might dissapear but the system of the world governmet wont let it be, There is so much more to lose and so much more to do before the banks to be dissapeared not mentioning that they are running the world of finance for thousands of years and yes this would take a decade or maybe a lifetime when we are battling for the survival of who will be the one on top of the financing world, the decentralized currecies or the banking system.
Bitcoin can not last forever and it does not guarantee our money's safety 100% so it can not make the banks disappear.
I think not
I think Bank will follow how technology growth
I think Bank will follow how technology growth
Physical banks may be less relevant in the future but they will still probably be there. There is a high probability that virtual banks will open up in order to keep up to crypto currencies.
i dont think so that thing could be happen because a government need banks to alive and without bank you know what happen. bitcoin will never make banks dissapear maybe bitcoin will dissapear i dont know. quantum computer hmmmm
Bitcoin is a modern currency.It is used through internet.There is wallet system which is controlled by the user. In the wallet,the user or worker store his bitcoin. The owner of bitcoin controls his own bitcoin.
So,we can say that a user has his own bank which is controlled by his own.It helps us to get rid of the banks and other authorities.As a result,we can guess that bitcoin can make banks disappear.
So,we can say that a user has his own bank which is controlled by his own.It helps us to get rid of the banks and other authorities.As a result,we can guess that bitcoin can make banks disappear.
LOL. You can't live with Bitcoin alone, it's digital and you don't see it physically. Bitcoin has no value and it's practically NOTHING if there's no fiat or physical money. If there are no banks where will you get the money to invest in Bitcoin and other cryptocurrencies? Also, can anyone cashout Bitcoin itself?
i think banks can't disappear. because this day bitcoin maybe, be most popular digital currency. but so many people don't know about bitcoin this is make bitcoin is not like a banks. everyone know about banks this day don't like bitcoin.
but if someday bitcoin recognized by many people I think it will be better replaced than disappear.
but if someday bitcoin recognized by many people I think it will be better replaced than disappear.
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