Topic: Can Bitcoin make Banks disappear? - page 54. (Read 427614 times)
Bank will not disappear. People still needed banks. Even though many people are choosing biitcoins there still more people want’s bank to store their money especially those who don’t want to risk their money. And also I think the bank will improve their system to catch up with the popularity of bitcoin in the industry.
bitcoin will hardly replace banks now and even in very long future, despite it has many benefits that can be a good candidate to replace cash, but it still have disadvantages like slow in transactions, high fees, and anonymous, moreover, banks if fighting against bitcoin by using more advance technologies that can satisfy all people.
Although Bitcoin is the future of currency, I dont think that Bitcoin can replace the Banks. As you know, the Banks have many different missions, apart from the intermediary payment function, the bank also lends money to companies. Bitcoin can't do this
Bank promotes KYC in order for them to monitor their clients while bitcoin does not need any personal information from us, they are different by nature and knowing that our government makes a law to ensure they can monitor illegal transactions and one council they build is the AMLC which combat money laundering, with bitcoin, everything is possible even illegal activities and it might be rampant so the government will still promote the bank as they can control 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?
The blockchain technology could change the perception of money, including the centralized part of the distribution of money. So we can say that cryptocurrency, may make disappear the banks. But to get at that point, is a very radical situation but I don't think that it will come anytime soon. So I think that the best right now, is to invest on cryptocurrency, especially in projects like propthereum.io
Although Bitcoin is the future of currency, I dont think that Bitcoin can replace the Banks. As you know, the Banks have many different missions, apart from the intermediary payment function, the bank also lends money to companies. Bitcoin can't do this
Yes it will and part of the campaign of bitcoin is to change the world for a better future. bitcoin will help to eliminate 3rd party user and cut taxes and bigger fees for a single transactions.
Nopes.i don't think so.
The banks will remain forever but may be they adopt virtual currency for transactions to make cashless transactions.
The banks will remain forever but may be they adopt virtual currency for transactions to make cashless transactions.
Bitcoin has no chance gaint banking instiautions. Virtually everybody in the globe utilizes a bank.st
Probably not to make bank dissapear, but most likely will reduce the use of by the people. The most important function of the bank today is to save money, But the methode of payment using paper money that is not fit in this era that is all required fast-pased. When people are get tired with paper money that slow, people will try to looking for the alternative that can help them like bitcoin. Banks will never disappear. Conventional usage of fiat , petty cash is still required in our daily life. Banks work very closely with the gov, and all theyneed is to ensure regulations of bitcoin and crypto is in placed.
All forms of crypto transaction has to go through the national banks for kyc/aml and recording. In this way, everyone will still requires some bank account to use crypto.
Can't fully agree! To some extent, banks are usless instance which simply gains a lot of money. Maybe some of them will stay - at least those which manage governmental money, but for the ordinary people the system will change - for sure - why shall we feed the greedy bankers when performing simple sell-buy operations? All forms of crypto transaction has to go through the national banks for kyc/aml and recording. In this way, everyone will still requires some bank account to use crypto.
The presence of bitcoin certainly brings a huge impact in the transaction system, it can not be denied that the bitcoin transactions are getting bigger making banks less value of transactions. even so, I'm not sure that the presence of bitcoin can make banks disappear.
Banks will never disappear. Conventional usage of fiat , petty cash is still required in our daily life. Banks work very closely with the gov, and all theyneed is to ensure regulations of bitcoin and crypto is in placed.
All forms of crypto transaction has to go through the national banks for kyc/aml and recording. In this way, everyone will still requires some bank account to use crypto.
All forms of crypto transaction has to go through the national banks for kyc/aml and recording. In this way, everyone will still requires some bank account to use crypto.
I'm not sure about this, there are many predictions that bitcoin will replace the bank, however the limitations and inadequacies that bitcoin encounters with me are that this is hard to do.
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?
That's just impossible in my opinion. Banks are institutions, strongest intstitution, that is supported by different governments over the world. Bitcoin is decentralized, so it also means that Bitcoin is not controlled by any government. And with that, banks are obviously stronger than cryptos at this moment so it seems to be not possible for Bitcoin to replace banks or make it worthless. "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 bank wont disappear because of bitcoin, because some people are using bank instead of bitcoin. bitcoin is nice , bank is nice, both of them is nice.
but some big company are using bitcoin and some are using bank .there is no bad in bitcoin and in the bank.
Banks are important in this world because they are giving us the service to safeguard our money, though it does not earn a lot of interest but some big company are using bitcoin and some are using bank .there is no bad in bitcoin and in the bank.
but I still believe when it comes to safety it's more safer that putting our money in our online wallet.
As long as you have a clean record, your money will not be lost because the government will protect it with their insurance.
I think bank wont disappear because of bitcoin, because some people are using bank instead of bitcoin. bitcoin is nice , bank is nice, both of them is nice.
but some big company are using bitcoin and some are using bank .there is no bad in bitcoin and in the bank.
but some big company are using bitcoin and some are using bank .there is no bad in bitcoin and in the bank.
The answer to these question might be a yes and a no. Maybe yes, because bitcoin is a good way to store your money and it is very secure like banks. Bitcoin is very comfortable to use because you can access it thru the internet and if you have an application that lets you keep your bitcoin and you can convert it to cash in an easy way. If some of the restaurants or places that accepts bitcoin as payment, that would be very useful.
The other answer is maybe no, because banks are still useful these days. You can cash out your bitcoin via banks and that is very comfortable for those who have bank accounts. Banks are also useful for those who are not yet knowledgeable about bitcoin.
The other answer is maybe no, because banks are still useful these days. You can cash out your bitcoin via banks and that is very comfortable for those who have bank accounts. Banks are also useful for those who are not yet knowledgeable about bitcoin.
In my opinion, this may happen, but not in the near future. In my country there is a completely mobile bank. Service is complete only by phone. This is savings on real branches. A small commission and a large percentage of cash back. Bitcoin will exist along with the banks, not instead of.
Certainly can make financial institutions vanish, but not now considering that the govt are nonetheless using fiat, which is based on a big large lie.
As long as bitcoin is not legalized it will not make banks or financial institutions disappear. I'm sure banks and governments will continue to work together and campaign for the fight against bitcoin.
Certainly can make financial institutions vanish, but not now considering that the govt are nonetheless using fiat, which is based on a big large lie.
I agree, can make a bit damage for industry, but not destroy for all.
Certainly can make financial institutions vanish, but not now considering that the govt are nonetheless using fiat, which is based on a big large lie.
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