They may be developed further, change the way of the actual existence but I think that will survive. Always will be need for money in big plans or projects, or even in various situations of everyone of us. May be a place when are offered the needed warranties that something can go without problems and take the needed money (or tools which may replace those). Be this the time of the actual us dollar and be the tomorrow one when maybe will be the day of bitcoin or the cryptos. Even in the probably time of only the cryptos will exist such needs. And even with the most sophisticated crypto in existence will exist always a hacker which can be able to steal or break the security of our personal wallets. Or people which will offer crypto but not security.
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.
Topic: Can Bitcoin make Banks disappear? - page 72. (Read 427614 times)
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.
Absolutely right, banks do not dissappear but will be force to evolve.
Not all people trust or want to use Bitcoins and/or crypto.
But there is side-effect of Bitcoin existence, people are getting more educated
and start realizing that fiat money are based on debt and gov. can print them in excessive way,
without asking us, we want diluted money or not.
For sure, Bitcoin/alts will have impact on various payment processors.
They simply feel cometitive push from crypto.
Recently, I got email from Skrill saying they are lowering sending money fees.
You see!
Not all people trust or want to use Bitcoins and/or crypto.
But there is side-effect of Bitcoin existence, people are getting more educated
and start realizing that fiat money are based on debt and gov. can print them in excessive way,
without asking us, we want diluted money or not.
For sure, Bitcoin/alts will have impact on various payment processors.
They simply feel cometitive push from crypto.
Recently, I got email from Skrill saying they are lowering sending money fees.
You see!
Very doubtful, but more realistically it could make Paypal and Western Union go away.
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?
Well it will take a very long time for bitcoin to totally overpower money or cash, which will affect the banks world wide. So, it’s not that easy actually. However, there is still a possibility.
It is impossible to make banks disappear by Bitcoin.
Even 10% of world population doesn't know about Bitcoin I am surprised to think about making banks to disappear.
Bitcoin is born not to destroy other systems it is created to support the world with better financial system I believe bitcoin is on right path.
Even 10% of world population doesn't know about Bitcoin I am surprised to think about making banks to disappear.
Bitcoin is born not to destroy other systems it is created to support the world with better financial system I believe bitcoin is on right path.
No I think bitcoin can make banks disappear. But on the other hand possible things may happend that they will have a partnership or tie up agreement to make easier all the transactions that we all doing at bitcoin. Like in money remittance banks have many money remittance center who are help them to serve people. It is more convinient when bitcoin and banks are already together. More priveledge are going to have using bitcoin thru banks help or partnership.
no, banks won't go off just like that. it would need centuries to get everyone on this planet using cryptocurrency as Bitcoin. and banks are smart, they will adopt changes and open same debit/credit business in cryptocurrency.
It is impossible to Bank disappear can not be. Because, bitcoin Bank to work with, but disappear can not. Bank customer number bitcoin of more. So it's impossible.
Banks and bitcoins can work together, I hope banks soon receive bitcoin so users are easier to sell and buy anytime, if the bank does not accept bitcoin then I'm sure someday the bank will disappear.
I don't think bitcoin will make banks disappear, because there are also those who doesn't want and doesn't know about bitcoin. Banks might have a little problem about it but that doesn't mean that they will be taken out with bitcoin.
The ultimate goal of bitcoin is to make transactions fast and cheaper, this eventually leads to the end of banks but I think this will never happen as all people are not up with the advanced technologies like blockchain they still want to save their money safely in the banks.
Don't think Bitcoin can but Cryptocurrency will.
Completely disagree with your statement unless you could open our eyes and explain how it could eliminate banks
I think bitcoin can not replace a bank, make the bank disappears. Because banking is not just a place to send and store money, it has many other functions, especially state banks. Because physical money will always exist, for simplicity, the need for physical money is much higher than bitcoin. And the government will not allow bitcoin to replace physical money for at least next 50 years.
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?
It can happen. I work in the bank for ten years, knowing the concept of the bank, the financial background also if all the people will be using bitcoin it is possible that banks will disappear because banks are just like a middle person with money and the account holders, compare to bitcoin if we can just acess our account in just one click. And pay your bills also with 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?
Definitely not. Even if Bitcoin become a better way of storing an individual's wealth, Banks will still exist. Bitcoin is an open source system so it is not under any government, and if something bad happens no one will take full responsibility out of it. There will still be people that would choose assurance of their wealth which is in Banks. "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?
Don't think Bitcoin can but Cryptocurrency will.
Completely disagree with your statement unless you could open our eyes and explain how it could eliminate banks
For now, there is no possibility that banks will disappear. Maybe in the future or maybe banks can still find ways even if in the future we'll be using digital currencies. Banks can also upgrade that time. Still, I cant think of any idea that banks will disappear in the future by bitcoin currency. We really cant tell what will happen in the future.
I don't think that the banks can disappear so easily. I think that the most people just need the normal banks. Some people doesn't even know that bitcoin exist. that makes banks so strong, banks won't disappear in early future. Even if they do, it will take decades. You cant finish the current banking system in few years. Also for this to happen, bitcoins should be an option in every store , in every transactions and of course awareness of bitcoin is also a major factor.
As all below know financial institutions trying to make their possess blockchain,to save the large charges they pay,soo possibly be a question of time until they begin to accepts payments of bitcoins ,as apps with bitcoins ,converted to fiat benefit on the working day ,and increasing as btc and not fiat.
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