Topic: Can Bitcoin make Banks disappear? - page 52. (Read 427614 times)
I think not, because there still people who are not believing in the power of Bitcoin. Also, some people's mind reject new era of currency.
I don't think it's possible.
What's more likely is that banks will actually incorporate bitcoins into their work and start to use them just like other currencies.
It all depends on the government. If the government is willing to accept this change for the betterment of not only the people living in that country but also for the betterment of the economy of the country, then there are likely chances of this thing to happen. What's more likely is that banks will actually incorporate bitcoins into their work and start to use them just like other currencies.
This is no doubt quite a time taking process and it will not happen in the near future. The thing is you can always hope for the best.
I think NO bitcoin can’t easily disappear banks because the banks are very big industry which is operating actively for the businesses. The function of the banks is to save money for the public and to lend money to big companies on a interest which they are distributing among the accounts holder so we can say that banks will operate it will not disappear.
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?
Very very unlikely because bitcoins have their own level. Bitcoins are on a very different level in terms of competition. Bitcoins today are usually used for transacting with internet goods and some stores like Microsoft. Money however are on a larger scale because it has more supply than bitcoins. The price of fiat money is very stable. Considering how much of an impact bitcoins have on money does not determin whether bitcoins will totally eliminate banks.
I think Bitcoin can't make banks disappear. If ever bitcoin slowly replace banks, people will transfer into bitcoin and the government won't let it happen. However, banks offer services that would make people still stay in a bank. One great example is the secureness in a bank. It is still safe when depositing a big amount of money while in bitcoin, it might lose when you invest it all. Nonetheless, both can exist in the market at the same time.
Bitcoin can not make banks to disappear, it will only make the banks to diversify. The banking sector have been in existence for many years now, their operations are not only approved by the Government but also approved by the members of the body. The banks have a regulating body called the central banks, so the banks have already gotten a solid foundation so talking of disappearing as a result of an Emerging Bitcoin which though is gaining ground in many counties of the world, but yet to be accepted in some countries,even when accepted by all the countries, bank may key into the Bitcoin Business as well.
Yes both have their own importance. You cannot compare two neither can deny one’s importance. Both are good in their own way, still many people prefer banks because they feel more safe on that side and some are getting into crypto so to earn more. Anyhow bitcoin cannot make banks disappear but can give a tough competition to it.
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?
It won't go so easy for bitcoin to make banks disappear, this will have to be a heavy battle that might lead to no winning, rather, they will both accept to work with each other.
yes it can, and it will. The days of banks are numbered. However, what is more important is that the governments grasp on the peoples wealth is also going to dissapear, this is where the real war starts. since the medivel times, governments have always collected tax, and once they are unable to do so, we will see problems arise.
No, the banks won't disappear. Infact they will revolutionalize themselves with blockchain. Many big banks are coming with their own blockchain. The current high rate of transfer is a impedance to many. The speed & low cost of transaction in blockchain will increase the use of online transactions within/outside country borders.
Bitcoin may not make bank disappear. this is not an easy task because banks handles the government approved currencies and Bitcoin have no control of any government.
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?
The value of a bitcoin is trading @ $7600+ currently and its going to increase day by day; Also the numbers of bitcoin generation has a limit set already. So the currency that needs to flow in the local markets of the nations will require the banks to be in place."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?
Off course bitcoins/cryptos are going to hamper the international banking business but banks can not disappear.
Bitcoin can not make banks to disappear, it will only make the banks to diversify. The banking sector have been in existence for many years now, their operations are not only approved by the Government but also approved by the members of the body. The banks have a regulating body called the central banks, so the banks have already gotten a solid foundation so talking of disappearing as a result of an Emerging Bitcoin which though is gaining ground in many counties of the world, but yet to be accepted in some countries,even when accepted by all the countries, bank may key into the Bitcoin Business as well.
Yes both have their own importance. You cannot compare two neither can deny one’s importance. Both are good in their own way, still many people prefer banks because they feel more safe on that side and some are getting into crypto so to earn more. Anyhow bitcoin cannot make banks disappear but can give a tough competition to it.
The roots of the local banks are very strong but the bitcoin currency is being very famous now and the users of the bitcoin are also increasing but I hope soon banks will accept bitcoin but for this the most important step is to make bitcoin legalize
Banking institutions will be on top and that might be the primary option of the people, many people will start utilizing bitcoin, but as another one, as banks are also important for transactions.
Actually, the world need to have a leader and the international banking, the government with national banking system are the people, the force help us manage the world.However, when the world become the era of digital, smart people, no one trust others.
Bitcoin can't make banks disappear because its not accepted by every government and secondly physical cash is needed in making some petty transactions.
true, i'm very sure even though bitcoin is capable of being a popular transaction tool, the bank will still exist. however, we still need banks to convert from conventional to digital currency.
yes it seems though that the world is trending towards decentralized digital currency so, no doubt in near future the people will stop in investing in banks and will go for online trade in such scenario there will be use of such traditional banks and they will be disappear.
To my mind bank will not disappiar. I think bank will make colaboration with blockchain and become a part of this global system.
Bitcoin can't make banks disappear because its not accepted by every government and secondly physical cash is needed in making some petty transactions.
the banks will not disappear. Although bitcoin has many benefits, there are many people need to go to the banks and the banks have some benefits that bitcoins do not have.
I do not think that Bitcoin can make banks disappear, at least in our nearest futureBitcoin is just released and produced because couple of years back but still requiring much more assistance and advertise globally
Jump to: