Can Bitcoin make Banks disappear? - page 62.

BurhanPSG

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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?

If I think the bank will not disappear because bitcoin does not aim for such a thing, even though bitcoin actually has its own online bank. Bitcoin will be very strong if the banks of a country can work together without any ban.
but of course this requires an approval from the government.

Botnake

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Quote from: alexzorgo on November 07, 2017, 02:54:44 AM

Central Banks won't disappear because they have fundamental functions for national economy. Anyway banks won't disappear in the countries with the totalitarian government. Because it is one of the main methods of impact on the population and national economy. Banks will remain as means of investment for more conservative people.

Central banks regulate the banking industry and that does only limited to banks, we have lending and remittances business which some
are under the central bank and they have a big power to regular based on the international law or standard.
If bitcoin will be popular, they can still regulate it and it will not be come a threat to the bank as long as they have the power to control it.

KnightElite

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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?

It can't be. Banks will never be disappear in our society. Even the bitcoin became popular all over the world, the bank will still stay in our society. Many people want banks because they know that banks are really important.

bololord

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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 dont know but i think it is hard to replace bank because its control by goverment ! If goverment ban the bitcoin i think bitcoin will go down again we all know that bitcoin is the best than bank because if you get you're money you will see in the blackchain and low fees than bank.

alexzorgo

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Central Banks won't disappear because they have fundamental functions for national economy. Anyway banks won't disappear in the countries with the totalitarian government. Because it is one of the main methods of impact on the population and national economy. Banks will remain as means of investment for more conservative people.

Wexnident

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I don't request loans~

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 highly doubt that Bitcoin together with other cryptocurrency will make Banks disapper or to be totally useless since it is considered as one of biggest instititution supported all over the world by different governments and countries. It is because banks are used to store an individual's wealth. So I think this will never happen.

MAJICOIN

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I think banking industry is fast growing currency and the people of this world is really doing many deposits in banks banking industry provide many long term loans to the big corporations. Bitcoin is also very popular and it can be said that banking industry will soon announce that bitcoin is the real currency and they will accept and receive these currencies.

tirthraj

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web3 developer | Youtuber

i think 10% possible at few place where people aware of bitcoin and digital currency .
and they are doing peer to peer transaction. but few places people don't know these kind of cryptocurrency exists somewhere even they don't have internet facility.

Now second big thing is trust they can't trust these things they assume it as sharemarket. so its very difficult to say bitcoin can disappear bank.

we can do many things manually in bank but in bitcoin its difficult.

Latviand

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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, cannot even though bitcoin have an good benefit like no interest to collect and have an expensive value i doubt thay it can make banks disappear, bank is part of the economics and government and we know that the bitcoin no match to government that decide to allowed it in one country.

timcheerful1

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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.

I agree bank can only change or go under

ankurguta87

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I dont think it is possible. Because the moment a country will see that BTC is dominating over the currency of the state they may restrict the usage of the BTC.

musbeto

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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?

Of course when everyone turns their money into altcoin then all the banks will turn their eyes because no one else has the need to store it in the bank anymore.

ruslango

newbie

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As all here know banks making an attempt to makeÂ their personal blockchain,to conserve the substantial fees they spend,soo probably be a issue of time until they commence to accepts payments of bitcoins ,as purposes with bitcoins ,converted to fiat benefit on the working day ,and increasing as btc and not fiat.

sajjadkhan

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Crypto Evangelist

Banking is a mechanism that has existed in one way or another for a long time. I don't think we would completely get rid of it but what Bitcoin will make apparent is inherent flaws in the banking framework. I predict bitcoin will revolutionize how we digitally transact but banking will stay for certain activities. Over time, as most of the world becomes fully digitized bitcoin will become the standard of transactions.

Hope so that happens quicker than we think.

jirene21

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BookiePro.Fun - The World's Betting Exchange

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 think as time goes on bitcoin will grow and grow

bebejhen

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I don't think bitcoin can make banks disappear. It can never replaced our current currency because it is just a cryptocurrency. There's a lot of altcoins today but they are just for online use. Without internet I think it is non sense. You can't use your bitcoin without internet. You can't work for it. You can't exchange it to paper. I think it is really hard to replaced our current currency. It will take decades before you do that. And there's a lot of things that current currency can do than cryptocurrency.

q835197677

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Quote from: big_bounty on November 05, 2017, 01:45:55 PM

Quote from: nz_sana on November 05, 2017, 03:32:04 AM

I think there is a lot of reasons behind the disappearance of a country's bank. But the banks are not always invisible because they change their services over time. One day, banks will start using bitcoin instead of currency like Fay and Fitter.

It seems to me that this will not happen. Banks are based on a centralized currency. They can not completely change their structure in order to use the crypto currency

I am not sure if Japanese banks are allowed to deposit bitcoins. But in the future, the bank may open the Bitcoin deposit business. Banks should be the most unlikely to disappear.

pimvinken

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Bitcoin has developed too much that it is threatening banks existence, but i dont think bitcoin can really have a chance to replace banks, because banks nowaday are developing to against bitcoin, they bring us more hot deals and fast transactions on internet, make us can not deny banks’ benefits.

zenrol28

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Maybe not. But banks might change its system to be more competitive to bitcoin's p2p trustless characteristics.

pinkv0dka

newbie

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I think its not possible, the financial institution are way to powerful and they will never let this occur actually, they bank is also hating the bitcoin so that they won't ever occur for that reason as well.Even though it is not impossible obviously but when it can occur it will nevertheless consider year before is even possible.

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