I think you're thinking too far, bank's primal function is lender/money holder, Bitcoin, no matter how big it will get, is just a currency, a financial instrument. The role & functions of banks will never be replaced or if any, it'll take another form.
Yes, bitcoin and paper money is financial instrument, paper money is also called banknotes, in the past people entrust their gold to bank to get banknotes, so paper money should be a representation of gold. paper money is bank products, the conclusion is when people don't use paper money anymore, bank will not be used then dissapear, or bank will change it function. People of some countries are leave their national currency to bitcoin because it give more benefit for them. So there is still a probability about bank to disappear. 
Topic: Can Bitcoin make Banks disappear? - page 64. (Read 427614 times)
bitcoin cant make bank gone.
bank have other the advantages that dont have in bitcoin. and we need bank to save our money
we take profit in bitcoin, and bank get profit from us. they are connected.
bank have other the advantages that dont have in bitcoin. and we need bank to save our money
we take profit in bitcoin, and bank get profit from us. they are connected.
I think you're thinking too far, bank's primal function is lender/money holder, Bitcoin, no matter how big it will get, is just a currency, a financial instrument. The role & functions of banks will never be replaced or if any, it'll take another form.
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 may be bank and bitcoin would work together and be fruitful together.Banks in would disappear in the way that they wouldn't function as they do now. But this is only the case if bitcoin becomes a widely accepted currency, and we see worldwide adoption. If a currency still keeps fiat as it's primary currency, then it would need banks. It may work together as one,bitcoin and the bank."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?
This may happen in the future when bitcoin becomes the main means of exchange in commercial activities. If the bitcoin rate increases, then the bitcoin transaction will be extremely hot. The bank is likely to close.
This can happen but no one can tell if when. But banks and bitcoin can work together for now. In the future the fittest will stay.
I really doubt that Bitcoin can make banks disappear, we all know that banks supports our government so its a conflict of interest, both bank and the government won't let it happen, they will either adopt to the circumstances or avoid it as much as they can, though I'm sure that they're going to protect their interest.
Bitcoin will be great as an online payment system but not to dominate and replace banks, that would not happen since we are just living in this world based on the law of the government. What we see now that is a big success is just starting since there are still more rooms to grow
for bitcoin but it's necessary that we should be realistic all the time.
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 may be bank and bitcoin would work together and be fruitful together.Banks in would disappear in the way that they wouldn't function as they do now. But this is only the case if bitcoin becomes a widely accepted currency, and we see worldwide adoption. If a currency still keeps fiat as it's primary currency, then it would need banks. It may work together as one,bitcoin and the bank. "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?
In the near future, banks and bitcoin will go parallel. We need both. I think that in the future we will have these two systems. The banks are also developing and offering many new products.
I think bitcoin cannot make banks disappear, Unless Bitcoin goes mainstream and gets mass adoption
Which will not happen, only with the government support where we can see a massive adoption, but are they gonna support to ruin their own system, I think the answer is very obvious, they are created to protect the interest of a certain country and they will support
those that they can monitor and control.
I agree with you because it would not be possible that it would happen and this will be a difficult thing to explain.
Banks adopt to the changing society, just like being analog to being digitalized.
Besides, bank employees have wide range of knowledge, I'm sure they're formulating ideas to cope up with the fast growing popularity of crytocurrencies.
I don't think banks will disappear, Bitcoin/cryptocurrencies might just be used for their advantage.
Besides, bank employees have wide range of knowledge, I'm sure they're formulating ideas to cope up with the fast growing popularity of crytocurrencies.
I don't think banks will disappear, Bitcoin/cryptocurrencies might just be used for their advantage.
I really doubt that Bitcoin can make banks disappear, we all know that banks supports our government so its a conflict of interest, both bank and the government won't let it happen, they will either adopt to the circumstances or avoid it as much as they can, though I'm sure that they're going to protect their interest.
Now that I think about it, if bitcoin does make banks obsolete, there will be a rise in criminal syndicate activities as it will be easier to move money around with bitcoin transactions' anonymity. But back to reality, it's a very slim chance for this to happen since the entire financial infrastructure of a nation will need to be overhauled. And banks are too powerful to yield.
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?
Yes Bitcoin can destroy banks. But not entirely. Conversion happens. Bitcoin banks turn into banks.
I think bitcoin cannot make banks disappear, Unless Bitcoin goes mainstream and gets mass adoption
Which will not happen, only with the government support where we can see a massive adoption, but are they gonna support to ruin their own system, I think the answer is very obvious, they are created to protect the interest of a certain country and they will support
those that they can monitor and control.
I think bitcoin cannot make banks disappear, Unless Bitcoin goes mainstream and gets mass adoption
I think it is impossible the disappearing of the banks by bitcoin. Yes, the bitcoin have brought many incredible innovations to economy, but I think existence of the banks will always continue in the future.
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 banks are not necessarily scared of bitcoin the currency, they are however scared of the potential disruption from the technology used in the Bitcoin infrastructure."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?
Banks are subject to inflation. They make profit from interest accrued from lending account holder’s money to remain active, but they are affected by external factors such as government laws and their issual of local currency.
Bitcoin, by keeping the supply constant, demand shall dictate the value of Bitcoin and given that value is being generated in each round of rotation, the value of Bitcoin shall only increase. Bitcoin isn’t affected by government laws and has a capped supply which keeps its motive in alignment with that of its token holders.
I don't think that banks can disappear, as banks are supported by the government, and everybody needs them for loans.
i don't think so that bitcoin will disappear the bank system because every country need a bank system through bank system different countries are doing business and also bank system is old system and the trust of people on bank will never end but there is only small issue of taxes only. so bitcoin will never become so develop that it will disappear the bank system but it can reduce the customers of bank.Bitcoin doesn't work to make banks disappear clearly. The aim and the reason of its existence is much more different than making the banks disappear. Bitcoin improved our lives during the past 5 years.
Banks will still exist but bitcoin will become a major competitor as people will choose bitcoin since it's cheap and faster in terms of transaction.
My read is that if they do stay in some fashion it will be limited what the banks will provide. They may serve as an intermediary between bitcoin transactions and other transactions but cant see a real point of them existing
beyond this. The ledger will be digital and so will the money, what real need will be left for banks coming 50 years+?
beyond this. The ledger will be digital and so will the money, what real need will be left for banks coming 50 years+?
The soul purpose of bitcoins was to give people financial freedom from banks and other third parties looking behind our earnings and provide even more privacy.
If banks become an intermediate between BTC transaction then they would probably peek into accounts and look at our balance.
Well having check on transaction is actually good , it avoids the anonymous transactions made for illegal activities .so giving some power to banks/government is important so that no one misuses this feature.
Jump to: