Can Bitcoin make Banks disappear? - page 50.

Crypto4K

copper member

Activity: 247

Merit: 12

decentralize money

Quote from: Karmakid on November 23, 2017, 10:52:15 AM

I don't think banks will disappeared maybe banks will started to accept bitcoin and learn how blockchain system works or maybe banks will be under of bitcoin.

Most likely they will try to copy the existing blockchains and just like tether, make up money out of nothing... AGAIN.
We have to use this extraordinary possibilty and use cryptocurrencies in the way they where designed. Peer-to-Peer.

Banks will definitely take a share in the market and why not. But it should be a matter of choice for us users. And a non manipulable and most of all a democratic form of money that we should all use.

Like that? Follow me on Twitter @Crypto_4K or Telegram @Crypto4K

Thanks, stay safe.

Mr.Stemafon

newbie

Activity: 18

Merit: 0

Quote from: jostorres on November 21, 2017, 06:57:00 AM

Quote from: cybersofts on November 13, 2017, 05:37:22 AM

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?

Both have their own roles to play in the future.
I don't think bitcoin will make banks disappear because bitcoin has it own issues and limitations.
Bitcoin and banks both have their limitations and advantages, people are the ones to choose best for themselves.

Well I think it will disappear banks in future because of decentralized economic system i.e. there will be no need of banks for monitoring for international transactions because in decentralized economic system bitcoin users will only be responsible for their actions. Beside all this it will be tax free. And this will make your transactions safe and sound and the sole reason behind such fame.

I do not agree with you because if it disappears the chance of hackers attacking bitcoins will be a lot bigger i think that it will be a good idea if banks applied blockchain technology into their banks this way it is kind of both.

Karmakid

sr. member

Activity: 742

Merit: 397

I don't think banks will disappeared maybe banks will started to accept bitcoin and learn how blockchain system works or maybe banks will be under of bitcoin.

Neglected Person

member

Activity: 308

Merit: 10

The people would not leave banks with the establishing of bitcoins, as the bank do not only for saving or investment of public fiats.

Tiger Junk

full member

Activity: 378

Merit: 100

Quote from: November11 on November 23, 2017, 09:17:34 AM

I think this is possible after TWO GENERATIONS

Well that is very impossible to happen because banks is very special so bitcoin will never have a chance to make banks dissapear, and for me in the future bitcoin is will also be use by many people and in the future also bitcoin can do what the banks can do.

ken0203

member

Activity: 84

Merit: 10

bitcoin will not make bank disappear, the only possible thing is bitcoin will compete banks, and it start start in this year, but some event will decide decide how long and how far bitcoin will make bank feel awfull with bitcoin existence. For now and maybe in the future too, we still need banks to convert it to fiat.

November11

newbie

Activity: 47

Merit: 0

I think this is possible after TWO GENERATIONS

krishnaverma

full member

Activity: 1414

Merit: 106

I do not think banks will disappear in near future. Currencies they are dealing with may change in future.

acener

full member

Activity: 1274

Merit: 115

★Bitvest.io★ Play Plinko or Invest!

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?

It depends upon the innovation of the banks around the world. As of now, banks only accept money only if it has physical form. Any transaction made in the bank should always have a physical form, even credit cards after the due needs to be paid with physical money. Unless, the banks will not change that rule that they have then bitcoin might make banks extinct as well along with physical money.

mathiaslivis

member

Activity: 139

Merit: 10

According to the current trend analysis, bitcoin is really likely to make the bank finished. I have to say, your speech is very meaningful, and I think it is very discussion

rxtwo

full member

Activity: 224

Merit: 105

I don't think so that bank can disappear so easily. Even if they do, it will take decades.

Faxmate

sr. member

Activity: 1071

Merit: 253

Quote from: Northrop on November 21, 2017, 03:18:18 AM

Bitcoin may have those banks disappear in the future but no one can tell if that will really happen. Bitcoin's purpose is to become a worldwide currency but no one knows if when will it happen.

I think if we see the history of bitcoin so in short time bitcoin achieved a lot of things as we know that bitcoin replaced other crypto from market so there is no doubt that bitcoin can replace banks as well but as far as I know that it will take some time because it’s a very big challenge to bitcoin so I’m sure that it's possible for bitcoin.

Zooplus

legendary

Activity: 1106

Merit: 1000

Quote from: hynext on November 21, 2017, 08:27:30 AM

For me, banks will not disappear. They will upgrade their system, duplicate bitcoin and make own coin too. We need fiat money to buy our basic needs. In case any stores accept bitcoin maybe i never use banks anymore. But banks will not disappear because of government.

They will continue to operate as people are still liking the centralized system and more regulated is safer for them.
Bitcoin is just another option but I do not believe it will become more powerful than the banking industry.

Hoganye

hero member

Activity: 625

Merit: 501

Quote from: missyqt29 on November 21, 2017, 10:10:28 AM

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?

Bitcoin will still need more years, perhaps decades, to mature more and be known by the majority of the world population before they can take over the banks in saving money. There are some things that banks have and cryptocurrency don't like loans. While bitcoin can offer higher interest if you save up your money there. Let us just wait and see who will win in the end.

Bitcoin does not offer any interest like bank, it is an investment asset, so you can buy it to investing for long term or short term depend on your target. But unlike bank, it can not call is a safe place to saving money. So, I think the role of bank is still important for anyone want to have a best place saving money.

Fizpok

sr. member

Activity: 344

Merit: 250

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.

missyqt29

member

Activity: 434

Merit: 10

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?

Bitcoin will still need more years, perhaps decades, to mature more and be known by the majority of the world population before they can take over the banks in saving money. There are some things that banks have and cryptocurrency don't like loans. While bitcoin can offer higher interest if you save up your money there. Let us just wait and see who will win in the end.

CIiff0rd

newbie

Activity: 5

Merit: 0

Absolutely not , banks could just adopt into the currency of bitcoin from which there would be bitcoin banks ...

hynext

full member

Activity: 350

Merit: 105

For me, banks will not disappear. They will upgrade their system, duplicate bitcoin and make own coin too. We need fiat money to buy our basic needs. In case any stores accept bitcoin maybe i never use banks anymore. But banks will not disappear because of government.

Kajevy

newbie

Activity: 34

Merit: 0

Yes because P2P make transition easy without pay a lot we need 10-40 years to destroy bank

aftab.436

member

Activity: 66

Merit: 10

Quote from: Mobshady24 on November 21, 2017, 07:41:55 AM

nope, bitcoin and cryptos are evolution of our current monetary system but i believe that banks will still play an important role for the economy in the future and they will get together with digital currencies.

I think bitcoin can create a great impact on the banks but banks can’t be down because banks play a very good rule for government. But bitcoin will create its own world due to some unique qualities such as; high security of the bitcoin and easy transfer throughout the world and cheap rates for the transfer of bitcoins etc.the rising value in market in such a rapid rate is also a factor that will create a great impact on Banks.

Topic: Can Bitcoin make Banks disappear? - page 50. (Read 427614 times)