Topic: Can Bitcoin make Banks disappear? - page 71. (Read 427614 times)
I don't think so. Banks nowadays provide services other than safeguard and lend money. The big ones right now are already planning on how can they add bitcoin into their system. That shows how much potential they see in BTC.
i think this will never happen as the world need FIAT because crypto is not available for those people who has no internet especially to those human up in the mountains and forest who still need the circulation ofthe world . and if we will erase those bank and fiat, and let the crypto revolve around the human life it is easy to erase the whole data by shutting down the internet world wide and also the electricity !
The main function of a bank is to lend money. This is how it makes most of its profit.
This will continue with the banks by using Bitcoin.
They certainly will not dissappear.
This will continue with the banks by using Bitcoin.
They certainly will not dissappear.
I think it is possible, but actually it will be a long time, and I will wait until then....
Let's just see what will happen in the future but I don't think it's going to be hard for bitcoin to replace bank. We need someone to be trusted and the reason why we have the government is because we trust them to make laws for the benefit of all.
Certainly, it will never disappear banks because it was justifiable by the government before they make a legal action. If in case they will no longer to used the banks. But then banks have been there and the people are already used it. However banks will adjust just to compete whatever happen into a nearer future if cryptocurrency exist.
I think it is possible, but actually it will be a long time, and I will wait until then....
Let's just see what will happen in the future but I don't think it's going to be hard for bitcoin to replace bank. We need someone to be trusted and the reason why we have the government is because we trust them to make laws for the benefit of all.
Certainly, it will never disappear banks because it was justifiable by the government before they make a legal action. If in case they will no longer to used the banks. But then banks have been there and the people are already used it. However banks will adjust just to compete whatever happen into a nearer future if cryptocurrency exist.
I think it is possible, but actually it will be a long time, and I will wait until then....
Let's just see what will happen in the future but I don't think it's going to be hard for bitcoin to replace bank. We need someone to be trusted and the reason why we have the government is because we trust them to make laws for the benefit of all.
It's really hard that Bitcoin makes banks disappear, because simply people still using banking services a lot more than Bitcoin till now , and also even Bitcoin this banking services to get converted into fiat
But there are lot of chances that more people will use bitcoins in future. When more people for getting into bitcoin payments, the banking system will get isolated. When the true money concept of bitcoin will get into action of attracting more people, then they will start neglecting banking system.probably more people will really use bitcoins in the near future because the value is constantly increasing but i think that the banking system will just stay the same as usual or maybe they will implement a function that will hold different types of coins and join the bitcoins industry.
I think it is possible, but actually it will be a long time, and I will wait until then....
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?
Surely it won't make banks disappear. This is also the same with Bitcoin obsoleting regular currency which is also impossible. Banks are used in different countries through decades. Banks are also the strongest institution which is supported by governments in different countries unlike in Bitcoin which is an open source system and is also decentralized. "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 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?
Maybe bitcoin will not but bank will disappear? maybe but not that easy, Banks in general holds lots of lots of physical money and not only money sometimes jewelry and golds and some people are storing their money to hold it for the long period of time so they are choosing banks to do the job.
Banks are the strongest financial institution we have that has support from Government and society so I don't think that it will be easy for bitcoin to make banks disappear as even if bitcoin gets on mainstream people will continue to use banks for their day to day transactions.
Banks was made long time ago, bitcoin only 9 years ago, people will always trust in banks not in virtual currency.
I will not consider that Bitcoin can make Banking institutions disappear at minimum in the near futureBut i feel a lot more men and women will leave banking services as Bitcoin's expanding up daily
bitcoin is on its way to destroy the current banking system but it doesn't mean that banks has to be disappear with that. if banks can integrate with bitcoins they can still be alive.
I doubt it. It would be very tough for bitcoin to practically accomplish this. Instead of making banks disappear, I think bitcoin will simply stand tall next to them as an alternative source of payment. This is how bitcoin will function according to me.
Banks will never disappear. Bankers have been among us ever since we invented money. What happened, first the banks tried to stop bitcoin. As they didn't succeed, they now try to use it for their own benefit. Maybe they'll introduce their own cryptocurrency, but that will only work if governments back them up and make this the official currency.
Bitcoin will eliminate banks just like what Email did to the postal industry. But still we're using fiat money for a mean time and soon bitcoin will be useful by all levels of society.
I don't think that will happen, banks is just so powerful and it is protected by the government, they pay the right tax so they will be protected. Maybe bitcoin will only be popular in the online world but it has it's limitation as this world is still control by the government and we all abide with the law.
Very doubtful, but more realistically it could make Paypal and Western Union go away.
I'm going with Paypal disappearing because bitcoin and Paypal are both used widely on the Internet. In real life, we have banks and we get that cash aren't just going to disappear. they aren't built in hype or some trend anymore. They are built by tradition. The tradition that people have been worshiping money ever since it was created. The tradition that we have to work so hard and get so little in return. And even if we do get a lot fiat money, it's purchasing power is now too little because of the constant inflation going on.
Let's face it. Paypal is what the scammers are using. You see someone here offering his Paypal for your BTC, you better be careful. Even though in the buyer protection policy of Paypal it is said that the buyer can't dispute the payment if it was for a digital good, the scammer can simply just say that he was hacked and he never really had that transaction. We all should use bitcoin but the only thing that's keeping Paypal alive is all the online stores that we use that accepts it and not bitcoin.
Bitcoin will eliminate banks just like what Email did to the postal industry. But still we're using fiat money for a mean time and soon bitcoin will be useful by all levels of society.
Very doubtful, but more realistically it could make Paypal and Western Union go away.
I think no, it can't. With the transaction fee that keeps on increasing while the price is increasing, then I think it is still faster to use western union or paypal in that sense.
I would believe that western union or paypal would be gone when we are paying small fee and as fast as those. With regards to banks, no it won't disappear no matter how we wish that it happen.
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