Topic: Can Bitcoin make Banks disappear? - page 45. (Read 427614 times)
If only power is not a problem it would be easy for bitcoin to make banks disappear. Bitcoin has all the components every people needs and wants that banks can not provide. Especially the decentralization which banks can never provide the users. It also gives opportunities to make people earn tremendous amount of money unlike the .05% interests of the banks. Bitcoin is almost impossible to get bankrupted, aside from having a very low price.
I think it will work simultaneously with the fiat currency because everything has its own positive and negative sides.
I think it's not easy that bank will disappear by bitcoin because bank is so many decades and many people are using it in the whole world, maybe banks will cooperate or having partnership in bitcoin to help them spread about it and many people will invest on the said bank because bank is also accepts other kinds of investment.
Yeah sometimes beacause using bitcoin is always better than get support from third party like banks .and if you use to do transaction with bitcoin you dont need a third party.and btc is the new technology sometimes banks will update with the bitcoin technology for their survive
No, I highly doubt it.
Bitcoin is a system that aims to facilitate transactions without the need for a bank.
People tend to overlook the fact that anywhere where one transacts value in different forms inevitably forms an economy. There shall be tools and factors that influence this economy to cultivate it. Banks are just one of the factors that influence economy. Banks run within a different kind of economy. Banks are designed to safeguard people’s money, lend the same money to people that need them to collect interest and eventually have the money rotated within to generate maximum value per rotation.
Bitcoin’s economic model differs from that of a bank.
Bitcoin is a system that aims to facilitate transactions without the need for a bank.
People tend to overlook the fact that anywhere where one transacts value in different forms inevitably forms an economy. There shall be tools and factors that influence this economy to cultivate it. Banks are just one of the factors that influence economy. Banks run within a different kind of economy. Banks are designed to safeguard people’s money, lend the same money to people that need them to collect interest and eventually have the money rotated within to generate maximum value per rotation.
Bitcoin’s economic model differs from that of a bank.
I doubt it. Central banks and Govts are way too powerful. Just a bit of news about the Brits regulating Bitcoin exchanges and the price of BTC fell almost 20% and today there has been a small decline in many cryptos. Markets work on fear and greed and when the fear sets in, so does retarded market sentiment. Bitcoin can only get more powerful thank Banks if people change their mindset and stop living in fear.
I really think so especially when they will not improve their obligations to its clients. As basic as it is, you can see how banks are growing richer day after day while their clients, especially those small-time depositors, are not getting the value for their money. It short, their money is not growing in banks and has therefore become a dead investment.
yes,bitcoin works like the bank and ATM.if want make transactions we no need depend on the banks,we can make direct transactions through the bitcoin address.the people who face problems with banks can happily change to bitcoin.banks transaction charges is very high,so bitcoin is best options to transfer and receive online payments.
Bitcoin has high fees too specially if you would transfer a small amount. I think there is almost no difference when it comes to fees now.
No matter how we wish that banks would disappear, I think they will always be there. It is not just the money that is in the bank, the people that are operating it are not just ordinary businessman, they are knowledgeable on what they are doing,so I think they can cope up in the future.
"Bitcoin make Banks disappear" maybe not but it will reshape your financial world for sure.
yes,bitcoin works like the bank and ATM.if want make transactions we no need depend on the banks,we can make direct transactions through the bitcoin address.the people who face problems with banks can happily change to bitcoin.banks transaction charges is very high,so bitcoin is best options to transfer and receive online payments.
Banks and the Government will never become obsolete- but Bitcoin may just change currency as we recognize it right now.
Government control this world, so why would they become obsolete, without government there will be big chaosand the only way the government can monitor and control us is to let us adopt a centralized system.
Banks and the Government will never become obsolete- but Bitcoin may just change currency as we recognize it right now.
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 think it is true that some of the financial institutions are afraid to the cryptocurrency especially to the bitcoin. Many professional and experts says that bitcoin can threaten banks. I don't know if the bitcoin can make banks 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?
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 think it is true that some of the financial institutions are afraid to the cryptocurrency especially to the bitcoin. Many professional and experts says that bitcoin can threaten banks. I don't know if the bitcoin can make banks 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?
No way in the developing countries. Because internet and Banks can't reach in all people. If can't reach in, how can Bitcoin replace Bank???
I think not, banks are not only keeping people's money but it act as a funding for any civil project, finance loans and other services. Banks can adapt Bitcoin and Crypto-Currencies but even the world money will be replaced by Crypto-Currencies but still Banks exist the they're using Crypto-Currencies to fund loans and other services.
i don,t think so that this is going to happen. because both are different from each other .banks are providing facility to save fiat .while on other side btc is a digital currency .I think that the most people just need the normal banks. Some people does,nt even know that Bitcoins exist.in this world.and in the future we can say that it would be happen with new projects like banks launches by bitcoin.for disappearing banks.No Bank will never disappear. Bitcoins work on internet while the bank live physically how can we compare bitcoins with banks. Actually not every banks aware about bitcoins nor the people in the earth know about bitcoins. It takes a lot of time or maybe years for this to come true. Maybe we shall not be alive on the day when bitcoin will make banks stop their operations.
Money is touchable, so we need it to put in banks because we should not stay it into our house for safety. But bitcoin is a digital currency so we don't need a bank to put it.
i doubt banks will be out of service man. Banks will still be operational, maybe we will have crypto-currency account numbers and then you can exchange your altcoin with fiat. But sorry to shatter your dreams banks are here to stay.....
No way, just think of from how may years banks are working, how many banking customers are there, dependency on banking sector and then compare with the cryptocurrency users based on that you come to conclusion. Banks will be there forever.
I could be wrong, but I think crypto is more likely to replace some payment processors rather than banks per se.
I think not, banks are not only keeping people's money but it act as a funding for any civil project, finance loans and other services. Banks can adapt Bitcoin and Crypto-Currencies but even the world money will be replaced by Crypto-Currencies but still Banks exist the they're using Crypto-Currencies to fund loans and other services.
i don,t think so that this is going to happen. because both are different from each other .banks are providing facility to save fiat .while on other side btc is a digital currency .I think that the most people just need the normal banks. Some people does,nt even know that Bitcoins exist.in this world.and in the future we can say that it would be happen with new projects like banks launches by bitcoin.for disappearing banks.No Bank will never disappear. Bitcoins work on internet while the bank live physically how can we compare bitcoins with banks. Actually not every banks aware about bitcoins nor the people in the earth know about bitcoins. It takes a lot of time or maybe years for this to come true. Maybe we shall not be alive on the day when bitcoin will make banks stop their operations.
Jump to: