Can Bitcoin make Banks disappear? - page 39.

blue_dragon

full member

Activity: 251

Merit: 100

Powered by Artificial Intelligence & Human Experts

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?

Not at all because Banks is one important thing for fiat money and the one who lead this kind of work are the government. Fiat money will not lost or what so ever.

otandelapaz

full member

Activity: 518

Merit: 115

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?

Banks as a structure will possibly disappear. But not as an institution. It's even more possible in the future that banks will take hold of the crypto-currency world. Corporations and government will not allow something that runs with money that they cannot control. They will take every actions to make it possible.

lamadu3

full member

Activity: 490

Merit: 100

Quote from: donalfonso on December 14, 2017, 04:40:58 AM

I belong to the school of thought that banks will never disappear, but will continuously innovate and that means in the nearest future all banks have to find a way to accommodate crypto currencies into the main stream financial system, and this will do a lot to help crypto currency evolution

I have heard that Bitcoin have its own system of real banks yet. Nobody today wouldn’t be wondered by number of BTC ATMs. And maybe some banks exist also. One I am sure in Austria, and others somewhere.

AntoniovEdwardsmf

newbie

Activity: 1

Merit: 0

This is very possible. I think most people want this. The bank is now a completely central tool for government service, and it is time to change.

NJB18

sr. member

Activity: 663

Merit: 250

I don't think banks will dissapear because of crypto. Maybe some of these banks will dissapear but new ones will rise. Even crypto banks are starting to appear like Crypterium and Humaniq.

P3

member

Activity: 266

Merit: 10

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.

To disaapear bank system is not easy or small task but according to my view it is not possible in whole life because bank system is the strongest sytem of around the whole world. Bitcoin can only reduce the users of bank but will never disappear the bank system.

iamabasicboy

newbie

Activity: 52

Merit: 0

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?

tHEY'R ACTING now some banks like on swiss running their own blockchains and it's simple very very good.

Lucas*

hero member

Activity: 826

Merit: 500

It will be insane if we think that banks will disappear due to Bitcoin effect ! In my opinion Bitcoin will be the future in banking and financial states , it will be used in transactions and it will be performed in banking . banks should update the blockchain tecnology and use Bitcoin and other cryptocurrencies with fiat to be in days and to grow-up.

Zooplus

legendary

Activity: 1106

Merit: 1000

Quote from: ace4549 on December 14, 2017, 08:46:52 AM

I think there is possibility that this thing may happen in future. The company and management of bitcoin show a great performance in the public which result to more achievements and recoginition that they received.
If all this thing can be maintain by them, their is no such thing impossible to reach by them.

The possibility is very low, banks will continue to exist because they are back and supported by the government.
I believe bitcoin will only be substitute to real money and it will not possess its own value with the converting it to real money.
Even more people will use bitcoin they will still need cash to to spend for other things because cash is very useful in this world.

chacha66

newbie

Activity: 83

Merit: 0

Well ive invested in two crypto banks, one in switz and the other in spain. So banks may be here for a long time to come although it may be a different type of bank .

ace4549

sr. member

Activity: 699

Merit: 438

I think there is possibility that this thing may happen in future. The company and management of bitcoin show a great performance in the public which result to more achievements and recoginition that they received.
If all this thing can be maintain by them, their is no such thing impossible to reach by them.

Mrjitter

sr. member

Activity: 434

Merit: 251

I do not think that such a system as banks will be able to destroy bitcoin, it is still too weak for such a mission, but perhaps in the future it can become a reality

nick_nick

full member

Activity: 350

Merit: 100

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?

Certainly not. Banks will not disappear because of bitcoin. However, banks will modify their line of business by shifting more to using cryptocurrencies in addition to fiat money for their transactions.

megalith07

member

Activity: 252

Merit: 15

BTC wouldn't influence banks to vanish. It's simply intended to be an option installment framework. Individuals will dependably require banks regardless of whether it's for just advances or whatnot. I assume they could issue credits in BTC however banks will need to keep hold of the money they can make issue alone will so in that regard BTC isn't desirable over them.

removebeforeflight

sr. member

Activity: 696

Merit: 258

Quote from: RamBahadur.Gurung on December 14, 2017, 05:36:27 AM

Quote from: AdamRay on December 14, 2017, 04:33:03 AM

Bitcoin can not make a bank disappear. Because bitcoin can not be traded as commodity. If you want to buy a $ 20 bag you can not lose $ 10 transaction fee. Some 3 days to confirm the transaction

This situation is not going to continue for long. Either Bitcoin will be replaced by some other currency such as Bitcoin Cash or Ethereum, or it will adapt to the needs of the users by increasing the block size.

True. Banks would adapt Bitcoin in future as a service and will close the traditional currency system, may be in 5 to 10 years. Bitcoin would go through some kind of transformation as well for migrating to banking system.

Jack Harris

newbie

Activity: 9

Merit: 0

Not in the near future, anytime, as bitcoins are not that much mass adopted that people will start using bitcoin only, and it is not even that widely accepted. However, it may change the way banks do their business, and it has already started its impact on many banks in some developed countries, as they are switching to BTC and banks are losing customers. So, due to bitcoin, they may soon have to modify their policy.

Zebra.Guy

member

Activity: 61

Merit: 10

Quote from: Twinscoin2017 on December 14, 2017, 06:25:59 AM

Quote from: bug.lady on December 14, 2017, 06:22:06 AM

Quote from: newguy05 on December 14, 2017, 06:12:04 AM

Australia will be the first stock market to use a stock exchange block-chain technology. Other stock exchanges are preparing for this kind of transition.

BLOCKCHAIN SHOOTING

Finally, after the passage of the blockchain technology that comes to the fore, the Australian stock market will be the world's first block-chain stock exchange. The Australian Securities Exchange (ASX) has announced that it will use this technology to conduct clearing and custody transactions. The move began in January 2016 with the aim of building a block-chain-based system with ASX's partnership with US-based block-chain initiative Digital Asset Holdings. The stock market will start its main lines of new technology transition in March.

Changing, changing...

Yes but you are speaking here about building a blockchain into existing infrastructure. It by no means implies that the Austaralian stock exchange nor Australian dollar desapears. And bitcoin is not replacement for it neither.

The authorities are simply taking what is best in bitcoin technology (the blockchain tech) and using it to their means in a centralized way.

I really believe that bitcoin can really make banks disappear in the near future because bitcoin has really more advantages than banking because if manyvpeople will really know what was really the bitcoin and what is its advantages maybe people will tend to use bitcoin than banking because holding bitcoin is just like vanking and at the same time gaining because of its price.

if (when) more people know about bitcoin and its advantages, the moment they attempt to use it they will create a backlog of hundreds of thousands of unconfirmed transactions (have you seen the backlog today? I do it everyday and it is more than 134.000 unconfirmed transactions today), they will wait for weeks for their particular transaction to clear and they will decide it was the first and LAST time they attempted to use the tech.

Unless the technology dramaticaly improves, and this is my call to the devs (!), a desperate call for changes

nextcrypto2401

newbie

Activity: 126

Merit: 0

although it will effect in money market but bank for sure never disappeared

Thanks

Twinscoin2017

sr. member

Activity: 1009

Merit: 328

Quote from: bug.lady on December 14, 2017, 06:22:06 AM

Quote from: newguy05 on December 14, 2017, 06:12:04 AM

Australia will be the first stock market to use a stock exchange block-chain technology. Other stock exchanges are preparing for this kind of transition.

BLOCKCHAIN SHOOTING

Finally, after the passage of the blockchain technology that comes to the fore, the Australian stock market will be the world's first block-chain stock exchange. The Australian Securities Exchange (ASX) has announced that it will use this technology to conduct clearing and custody transactions. The move began in January 2016 with the aim of building a block-chain-based system with ASX's partnership with US-based block-chain initiative Digital Asset Holdings. The stock market will start its main lines of new technology transition in March.

Changing, changing...

Yes but you are speaking here about building a blockchain into existing infrastructure. It by no means implies that the Austaralian stock exchange nor Australian dollar desapears. And bitcoin is not replacement for it neither.

The authorities are simply taking what is best in bitcoin technology (the blockchain tech) and using it to their means in a centralized way.

I really believe that bitcoin can really make banks disappear in the near future because bitcoin has really more advantages than banking because if manyvpeople will really know what was really the bitcoin and what is its advantages maybe people will tend to use bitcoin than banking because holding bitcoin is just like vanking and at the same time gaining because of its price.

bug.lady

member

Activity: 196

Merit: 23

Large scale, green crypto mining ICO

Quote from: newguy05 on December 14, 2017, 06:12:04 AM

Australia will be the first stock market to use a stock exchange block-chain technology. Other stock exchanges are preparing for this kind of transition.

BLOCKCHAIN SHOOTING

Finally, after the passage of the blockchain technology that comes to the fore, the Australian stock market will be the world's first block-chain stock exchange. The Australian Securities Exchange (ASX) has announced that it will use this technology to conduct clearing and custody transactions. The move began in January 2016 with the aim of building a block-chain-based system with ASX's partnership with US-based block-chain initiative Digital Asset Holdings. The stock market will start its main lines of new technology transition in March.

Changing, changing...

Yes but you are speaking here about building a blockchain into existing infrastructure. It by no means implies that the Austaralian stock exchange nor Australian dollar desapears. And bitcoin is not replacement for it neither.

The authorities are simply taking what is best in bitcoin technology (the blockchain tech) and using it to their means in a centralized way.

Topic: Can Bitcoin make Banks disappear? - page 39. (Read 427614 times)