Topic: Can Bitcoin make Banks disappear? - page 76. (Read 427614 times)
I think banks will not disappear but may have changes on it. Some people who uses bank might transfer to bitcoin but not all. Because there are still services bank offers that bitcoin don't and people would probably stay in a bank. Example is that it's still secure in a bank when depositing a large amount of money while in bitcoin, it might lose when you invest it all. So I believe that banks won't disappear and the government of course won't let it happen. However, I think they can both exist in the market.
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?
There is a possibility but it would take more and more years before that could possibly happen. If we are heading in the future world the technology could really advance more and it might affect the banking industry specially when crypto currency is already adopted by the people worldwide.
Bitcoin is more secured rather than putting it in bank. Bankruptcy is always present. But Government will not let banks disappeared,they are afraid to loss much money by accepting cryptocurrency because it is untaxable and they can't centralized the used of it unlike in banks
Banks are good for storing big money and if the person is afraid of losing money for investing in high risks investment then investing in banks are good for them. Bitcoin will not make the banks disappear because that is impossible to happen since the banks are already here in our world for a long time ago and the government backed up the banks so there is no chance for disappearing. 
Bitcoin is more secured rather than putting it in bank. Bankruptcy is always present. But Government will not let banks disappeared,they are afraid to loss much money by accepting cryptocurrency because it is untaxable and they can't centralized the used of it unlike in banks
I think bitcoin and fiat can both co-exist jointly, with bitcoin masking the physical trades and bitcoin utilized in on-line transactions.
That's the reality, bitcoin and fiat can exist together and that would bring good help to the masses especially those people who will adopt with bitcoin. With bitcoin they can enjoy a fast transaction and it was created to protect our privacy so we can have that which is not possible when trusting our money
and information with bank. We can only get the real transparency when there is no third party and bitcoin has none of it, and time for the decentralized
system to go mainstream.
Banks in an establishment that conduct of any financial transactions.Everyone deals through banks from depositing money,loans,exchanging currencies and for facilitating and transmission of funds must be done through with it.Banks is part of life of many people like money,especially the business mans.Blackchain use for the transmission and the status of the funds,just like banks it use for transmission also,so for maybe in the near future banks and bitcoin may be both useful to each other.The bitcoin can transmit through banks. 
But bitcoin can't banks disappear,because banks is known as a global financial transactions.
But bitcoin can't banks disappear,because banks is known as a global financial transactions. 
Not its not possible, banks are always needed for people.
Not everyone is gonna use bitcoins for payments.
Plus the most bitcoin is digital and online and I do not see people pay online wit bitcoin.
Not everyone is gonna use bitcoins for payments.
Plus the most bitcoin is digital and online and I do not see people pay online wit bitcoin.
There are many people who are scared of using even credit cards for online as well as offline shopping as they feel that someone will hack their account and they prefer to pay in fiat and the scenario would be the same in future too as we cannot expect that each and every person will start using bitcoin and they will continue to use fiat and for that they need banks for sure.
Not its not possible, banks are always needed for people.
Not everyone is gonna use bitcoins for payments.
Plus the most bitcoin is digital and online and I do not see people pay online wit bitcoin.
Not everyone is gonna use bitcoins for payments.
Plus the most bitcoin is digital and online and I do not see people pay online wit bitcoin.
so what does bank means, bank are often reforming to follow the step of technology, if bitcoin really can develop to replace the current banks, then it will be the new bank, its my opinion
If banks continue to look down on bitcoin instead of adopting it then this technology could definitely in some ways replace traditional banks and it already is.
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?
The bank won't disappear that easily becuase of bitcoins. Many people are still skeptic in comes to the security of bitcoins (stories of hacking the passwords of some unfortunate users are all over the net). And even the banks won't adapt in the market of crypto currency, they would still survive. However, the competition between saving in banks and investing in bitcoins cannot be prevented.
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?
its not impossible to happen. "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?
but bitcoin can use bank from where they can invest money.
they can be partners in work for progression
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?
Traditional banking systems have been here for so long now and it will take to bitcoin more than having low fees and being decentralized to beat it and take it away from it's spot . People are superstitious specially those who aren't familiar with internet or who simply doesn't believe in new inventions . Adding that to the roller coaster that bitcoin's value is riding will be enough to make people very hesitant if not completely refusing to give up on banks and move their funds to bitcoin . Banks certainly do have to adapt but these two have to become bodies and coexist for their user's benefits . "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 has two options in front of them. keep on fighting against btc and get lost or accepting that is the fact that they are beaten and see the ways to be aligned to crypto currencies.
athough we still need the banks as that is the way we can convert our bitcoin funds to our local currency but then it just going to be until every part of the world accepts it
i guess its getting clearer how many people do away with banks since the inception of the bitcoin blockchain system,
I personally think it is possible to some extent. Cryptocurrencies may not stop banks altogether but certainly, take down the majority of them. Once local and online stores start to accept cryptocurrencies in larger scale things will explode to our favor. Why use a merchant account to accept credit cards when there are so much credit card scams? Big companies lose money because people pretending they didn't get package even though it says delivered in tracking number they can still get away with it. It's things like this that will make businesses want to use a service that protects them from fraud, and that something is cryptocurrencies. There's a couple of good ones that provide anonymity which are Dash and Monero. However, there's another cryptocurrency that just came out called DeepOnion everyone should look into.
Well, it is inevitable in the future that every country will adapt to the changes on the technology. Soon, our world will incline towards the digital aspect of currency, which gives an edge to bitcoin in terms of payment. But be reminded that in order to achieve this ideal future, each country must develop and adapt to the current system which I think that poses a problem.
Each country have their own social standing, whether they are developed or still at the developing stage. If we suddenly implement digital currency and remove fiat, this would create chaos regarding the economy. Bitcoin can never make banks disappear at its current stage as their are still countries that prioritize fixing their corruption rather than having internet access across.
I personally think it is possible to some extent. Cryptocurrencies may not stop banks altogether but certainly, take down the majority of them. Once local and online stores start to accept cryptocurrencies in larger scale things will explode to our favor. Why use a merchant account to accept credit cards when there are so much credit card scams? Big companies lose money because people pretending they didn't get package even though it says delivered in tracking number they can still get away with it. It's things like this that will make businesses want to use a service that protects them from fraud, and that something is cryptocurrencies. There's a couple of good ones that provide anonymity which are Dash and Monero. However, there's another cryptocurrency that just came out called DeepOnion everyone should look into.
I consider people will nevertheless utilizing Banking companies and banking solutions due to the fact it is needed nowadays and Bitcoin nonetheless need to have far more usability to exchange it
occur to feel of bitcoin have the very same functionality as the income, if the bank does not suggest bitcoin make it, there is no lengthier a function of funds in this planet, as effectively as bitcoin. because bitcoin will undoubtedly be exchanged for money to buy something in the real globe
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