Can Bitcoin make Banks disappear? - page 42.

Rollex

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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?

For me, it is a totally no. Even though bitcoin was really a fast rising currency in terms of being a virtual money which offers much larger benefits compared to banks, more accessible compared to banks still bitcoin cannot make banks disappear because banks as we misconceptionally know, do not just focuses into investments of money and saving of money, banks do also offers other features that bitcoin cannot still provide. I do not evenly know those exact features but I know that it do offer other services that only banks can provide right now that is the reason why other people still prefer and continuously engaging into banks even bitcoin can offer a lot more impressive works than banks

EiKaGlaShPriSAThWEl

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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?

I do not know in the future. But by now, I think it is still impossible that banks disappear. There are still many places that depends on bank and not in something like ATM, or online wallets because they do not know how to use ATM and they have no idea about the online wallet.

joshua05

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Rookie Website developer

Banks will change or go under but they won't be gone, and no banks can hardly be disappeared , bank is more reliable storage to use than Bitcoin , for me bitcoin can never replace bank

lovela

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No, banks can hardly be disappeared. Why? Not all people have the same mind, hence, we do not manage our money the same way. NO matter how popular the bitcoin will become, there are still people that will consider trusting banks for their assets.

nemesis_

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Banks are already part of human lives since it was first established. For some, it will be the safest place to keep your money. But as technology develop more, things are also developing and being created like cryptocurrencies. Specifically, bitcoin. Yes, bitcoin may have lot of advantages over cryptocurrencies, but we cannot deny the fact that even things better than banks are rising, we cannot totally remove banks in the way people handle money. Many may consider to do cryptocurrencies but still, there are still people who still trust banks. Banks cannot totally disappear.

angrybirdy

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★Bitvest.io★ Play Plinko or Invest!

Quote from: gustaf.berg on December 12, 2017, 03:38:31 AM

Unfortunately it is under contol of those whales and I'm afraid that whales controls banks too. So I feel like we are again trapped. Few years ago I was hopeful that crypto currencies can change the current corrupted system but slowly losing my hopes.

That is very unfortunate for you if that is the case. Although, my hopes are still up for bitcoin as I see this to be the future of digital market/trade, only, that the blockchain must be overhauled so that faster and cheaper transactions can be possible.

gustaf.berg

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Quote from: HalfDeck on December 10, 2017, 04:22:18 PM

Quote from: MyIdeas on December 09, 2017, 05:46:13 PM

Quote from: Isaacck1 on November 04, 2017, 11:13:53 PM

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?

Individuals must choose between limited options to secure their cash, banks has ensure till a sum reinforcement by the nation, bitcoin has potential, however beyond words or later nobody knows, so on the off chance that I need to pick I would go into both as I consider and have confidence in bitcoin potential and I would prefer not to banks to continue taking the expense to they loan my cash to others, they should pay me to get my cash and not the turn around.

Fluctuation in rate of crypto currency is very high than exchange of real money. Bitcoin needs no banks. It is free of involvement of any other person. Banks are traditional fees and rules & laws. But in the case of Bitcoin has no rule and regulation. You just have to access through internet. One can trade on Bitcoin easily by using internet. It may be possible that Bitcoin will be disappeared bank in future due to its unique properties.

It is not a function of Bitcoin, it created by the nature and the Bitcoin users. Honestly, I do not like to use a currency can not control the price fluctuation. But in the fact, the whale are controlling the price fluctuation of Bitcoin, they are spending their money to buy/sell it and make the traders want to buy/sell Bitcoin as their want.

Unfortunately it is under contol of those whales and I'm afraid that whales controls banks too. So I feel like we are again trapped. Few years ago I was hopeful that crypto currencies can change the current corrupted system but slowly losing my hopes.

vinz7229

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Quote from: kevin go on January 11, 2016, 09:48:55 PM

im sure it can...but it will take a long time to make bank dissapear...
but make sure that all people know what is btc...in my country just a less people know bitcoin...

I think this couldn't be happen, bank is more reliable storage to use than Bitcoin. It has controlled by the government with corresponding Law's. And also people would prefer to convert their Bitcoin into Fiat currency in the long run, cause Bitcoin doesn't have stable price. And also bank can accommodate lot of people doing different transaction. Unlike Bitcoin if theirs a lot of people buying and selling coins, sometimes it crash or down their system.

8Habits

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Quote from: HalfDeck on December 10, 2017, 04:22:18 PM

Quote from: MyIdeas on December 09, 2017, 05:46:13 PM

Quote from: Isaacck1 on November 04, 2017, 11:13:53 PM

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?

Individuals must choose between limited options to secure their cash, banks has ensure till a sum reinforcement by the nation, bitcoin has potential, however beyond words or later nobody knows, so on the off chance that I need to pick I would go into both as I consider and have confidence in bitcoin potential and I would prefer not to banks to continue taking the expense to they loan my cash to others, they should pay me to get my cash and not the turn around.

Fluctuation in rate of crypto currency is very high than exchange of real money. Bitcoin needs no banks. It is free of involvement of any other person. Banks are traditional fees and rules & laws. But in the case of Bitcoin has no rule and regulation. You just have to access through internet. One can trade on Bitcoin easily by using internet. It may be possible that Bitcoin will be disappeared bank in future due to its unique properties.

It is not a function of Bitcoin, it created by the nature and the Bitcoin users. Honestly, I do not like to use a currency can not control the price fluctuation. But in the fact, the whale are controlling the price fluctuation of Bitcoin, they are spending their money to buy/sell it and make the traders want to buy/sell Bitcoin as their want.

Fiat money currency will eventually go its value down due to inflation and bitcoin don't have that due to the fact that it is a scarce resource as it has max cap of only 21 million bitcoins to be made compared to currency that can produce as long as the government want it.

HalfDeck

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Quote from: MyIdeas on December 09, 2017, 05:46:13 PM

Quote from: Isaacck1 on November 04, 2017, 11:13:53 PM

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?

Individuals must choose between limited options to secure their cash, banks has ensure till a sum reinforcement by the nation, bitcoin has potential, however beyond words or later nobody knows, so on the off chance that I need to pick I would go into both as I consider and have confidence in bitcoin potential and I would prefer not to banks to continue taking the expense to they loan my cash to others, they should pay me to get my cash and not the turn around.

Fluctuation in rate of crypto currency is very high than exchange of real money. Bitcoin needs no banks. It is free of involvement of any other person. Banks are traditional fees and rules & laws. But in the case of Bitcoin has no rule and regulation. You just have to access through internet. One can trade on Bitcoin easily by using internet. It may be possible that Bitcoin will be disappeared bank in future due to its unique properties.

It is not a function of Bitcoin, it created by the nature and the Bitcoin users. Honestly, I do not like to use a currency can not control the price fluctuation. But in the fact, the whale are controlling the price fluctuation of Bitcoin, they are spending their money to buy/sell it and make the traders want to buy/sell Bitcoin as their want.

USScrypto

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if interest of people is going to be like that I think banks will have a lot of issue in future, maybe it ll not dissaper but they ll have some other activity but they ll not have profit like today.

Mikasa77

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Quote from: subcypher on January 11, 2016, 09:48:18 PM

Banks will change or go under but they won't go away. They will always find some service to provide that someone else will want to buy.

No it wont happen. Bitcoin will never make bank disappear even it has a big value or importance because banks are all manage by te government and all people agree and accept it unlike to coins that bot everyone knows it. Banks will still remain and bitcoin was just in the virtual world. Bitcoin was just give contribution to the banks but it cant make it disappear.

codecares

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I think there is not any reason that bank can disappear owing to bitcoin. Bank is usually safe than bitcoin. Bitcoin is for online cash and banks square measure our native value that we are able to firmly save our cash via bank. Bitcoin has no stable worth so bitcoin isn't the simplest choice to save our cash.

dotcomwriter

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I don't think bitcoin can make banks disappear but it can lead to a significant reduction of banking organizations. It is also likely to change how banks operate in future.

MyIdeas

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Quote from: Isaacck1 on November 04, 2017, 11:13:53 PM

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?

Individuals must choose between limited options to secure their cash, banks has ensure till a sum reinforcement by the nation, bitcoin has potential, however beyond words or later nobody knows, so on the off chance that I need to pick I would go into both as I consider and have confidence in bitcoin potential and I would prefer not to banks to continue taking the expense to they loan my cash to others, they should pay me to get my cash and not the turn around.

Fluctuation in rate of crypto currency is very high than exchange of real money. Bitcoin needs no banks. It is free of involvement of any other person. Banks are traditional fees and rules & laws. But in the case of Bitcoin has no rule and regulation. You just have to access through internet. One can trade on Bitcoin easily by using internet. It may be possible that Bitcoin will be disappeared bank in future due to its unique properties.

YTBitcoin

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Activity: 686

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Quote from: adityakr56 on October 28, 2017, 04:46:33 PM

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?

I read a quote saying “Bitcoin will do to banking industry what emails did to the postal industry”.
In the past banks have playes significant role in financing in loans to the public. As gold and silver have been replaced with fiat currency,the banks have reached an almost omnipotent position.
More likely that governments will co-opt crypto and begin issuing their fiat money as a crypto.

I have the same point of view that it is doubted that Bitcoin will be replaced banks. As the huge amount of investors are joining Bitcoin daily. Then a time will comes when Bitcoin will legalize internationally. And as its quality that there is no third party involve in Bitcoin. So there would be no needs of banks in future. Everyone wants his transaction speedy and free of cost.

Et Hereum

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Banks will not disappear. The economic system needs banks. But the banks will lose revenue. The banks will want to integrate into the Bitcoin system. Already some banks are preparing for the transaction with Bitcoin.

Slipknot79

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Blockchain Just Entered The Real World

Bitcoin is certainly going to make a squeeze on the profits of banks. Initially it will be forign transactions that bitcoin will take over.

kushanuradha294

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Quote from: miyami on December 05, 2017, 07:06:00 AM

Banks will not disappear... They will offer new services connected with bitcoin
1. Purchase.
2. sale.
3. storage.
4. loans in BTC.
Banks for money will do anything.

I think this fact can be true since banks will do whatever it take to keep their business running, More the world prone to crypto field more they will be flexible to trade with bitcoins. And also this could be good for the crypto trade as well since many people have security concerns regarding bitcoins, but when banks start to be flexible for bitcoins and start trading with bitcoins it will give a reassurance for the people who think bitcoin trade is risky. Cool

dbutp

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Streamity Decentralized cryptocurrency exchange

bitcoin can not replace banks. Although bitcoin has many benefits but banks also have the benefits that bitcoins do not. The bank can give someone a loan and the bitcoin is not. At the moment, banking is still a priority for most people.

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