Topic: Can Bitcoin make Banks disappear? - page 69. (Read 427614 times)
With bitcoin alone, I don't think so. When come to think about this, bitcoin alone is a place where we store our money, how we do our transaction, etc. It is a bank in a way. It's not money yet. What if there's no money backing bitcoin. Then it's also a bank that's out of service. While there are too much money in financial institutions, it will be really difficult for current banking system to come to an end. Only when all the billionaires were into bitcoin, banks will end. Even so, don't worry. Banks will still try to adapt to such events. I've already seen some news about banks trying to adapt with this, like Swiss banks testing out cryptocurrency. It won't be easy though.
I don't think banks will ever disappear because a lot of people don't trust themselves, so they like to put their money into someone's hands under a contract, so they manage their money for them so if they screw up they can have someone to blame to but them, of course then when the government take their money and they can't do nothing about it they will complain.
Banks will not disappear but bitcoin will dominate, bitcoin is unstoppable and banks are already threaten about the market bitcoin will get.People will surely adopt because ti's a good investment and a better currency, if they are smart they are already investing now so in the future they can get profit. Banks will always be centralized but decentralized are better.
but in future maybe people more interest in bitcoin than bank or fiat money
I don't think banks will ever disappear because a lot of people don't trust themselves, so they like to put their money into someone's hands under a contract, so they manage their money for them so if they screw up they can have someone to blame to but them, of course then when the government take their money and they can't do nothing about it they will complain.
Banks will not disappear but bitcoin will dominate, bitcoin is unstoppable and banks are already threaten about the market bitcoin will get.People will surely adopt because ti's a good investment and a better currency, if they are smart they are already investing now so in the future they can get profit. Banks will always be centralized but decentralized are better.
I don't think banks will ever disappear because a lot of people don't trust themselves, so they like to put their money into someone's hands under a contract, so they manage their money for them so if they screw up they can have someone to blame to but them, of course then when the government take their money and they can't do nothing about it they will complain.
I think that is impossible because we still need the bank as a medium to withdraw funds from bitcoin wallet against the legal currency in our own country. However, if bitcoin is legalized all over the world, the bank may still exist but bitcoin can enter as a recognized currency in the bank and can be used for direct transactions.
Why do you need bank as a medium? You can convert Bitcoin to fiat cash online, using any of the exchanges. Or you can use pre-paid debit cards and load them with BTC. Once this step is complete, you can either use the funds for shopping, or you can withdraw the money using any of the ATMs. Banks are not needed at any point of time.
I think that is impossible because we still need the bank as a medium to withdraw funds from bitcoin wallet against the legal currency in our own country. However, if bitcoin is legalized all over the world, the bank may still exist but bitcoin can enter as a recognized currency in the bank and can be used for direct transactions.
No i do not think that bitcoin will replace banks but it is highly possible in some future that bitcoin will be accepted in banks. Since blockchain technology is rising most of them will adopt to these changes.
We may also see banks creating their own coins. This technology is unstoppable and government will either ban it or accept it.
We may also see banks creating their own coins. This technology is unstoppable and government will either ban it or accept it.
As of now for me bitcoin still doesnt have the capablity to make it happen. Maybe someday but now it is not yet possible since there are only few of the world population uses it.
No. I think only a few banks will be left operating in the future once blockchain takes over everything. It's either they accept the new system of crypto or they disappear. So if a bank is operating on weak economies like those who are on the dirt poor countries, I doubt that they'll able to survive with blockchain.
In future it will be happening if bitcoin makes them popular and change the currency. Without some especial steps bitcoin can't do this, because it is not so easy to make disappear banks with bitcoin.
Through time, I guess banks will never disappear. Maybe things will go on differently but the idea of banks disappearing is like it just can't.
Most definitely Bitcoin can make Banks disappear because BTC's aim is to make middleman obsolete and that is just what BTC is doing. It is just a matter of time now before they die off.
If that will happen it will take a lot of time because the government will fight for it and they will make sure the centralized system will always be followed because they want to remain in power. With bitcoin and everything will be decentralized it's good for us since we can achieve the real transparency, however there are people who are fighting not for the interest of the people but their personal interest. 
Most definitely Bitcoin can make Banks disappear because BTC's aim is to make middleman obsolete and that is just what BTC is doing. It is just a matter of time now before they die off.
im sure it can...but it will take a long time to make bank dissapear...
but make sure that all people know what is btc...in my country just a less people know bitcoin...
I am not sure the bank will disappear because the most secure bank where to save money and have big funds, bitcoin will be difficult to trade without the help of banks even banks will grow when bitcoin also higher price but make sure that all people know what is btc...in my country just a less people know bitcoin...
Yes and no, we'll always need bankers to manage our money. Even if they have to be specialized in cryptomoney. On the other hand, we must not lose sight of the fact that the banks could, if they so wished, unite to buy back all the bitcoins and thus abort the project... Even if the bitcoin now has a strong capitalization, we must keep in mind that it is nothing compared to the power of several merged banks...
No matter how long bitcoin will stay, bitcoin cannot make banks disappear and banks too will not allow bitcoin to take preeminence over them. So, what I think is, banks will figure a way out for them to work hand in hand.
It's the best possible thing I see happening in the future, both currencies(banks fiat and Bitcoin /cryptocurrencies) complementing each other's strength and weaknesses. I believe they can coexist and bring out the best to our finances globally.
No matter how long bitcoin will stay, bitcoin cannot make banks disappear and banks too will not allow bitcoin to take preeminence over them. So, what I think is, banks will figure a way out for them to work hand in hand.
No Bitcoin can't make banks disappear, because most people still use and need banks in their offline and online transactions and deals.
Bitcoin is not yet so popular, so we need to wait and keep supporting it for a better future.
Bitcoin is not yet so popular, so we need to wait and keep supporting it for a better future.
My answer is no banks can’t be disappear. Banking industry in playing very important role in today economy. Bitcoin is money and it can traded and used through banks. In the present time people can use banks for their business transactions many big companies have taken loans from banks. Bitcoin has it’s own importance but it is not said that it will disappear banks. Through banks we can deal in bitcoin with many countries.
It is bit difficult for bitcoin to fulfill the purpose of banks as we all know that banks are the main center where a common man can get loan to continues his living way, maybe in coming future this will happen that people relay more n bitcoin as compared to banks and that time will be good because everyone will prefer bitcoin because of its profit and its blessing and maybe banks will also start accepting bitcoin.
I think for now can not. because banks manage all the finances of a country. if legal bitcoins in each country are likely to occur. just my opinion.
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