according ti me bitcoin has a lot of potential to become such a crypto currency that it would be used completely by everyone and thus banks might come to an end.
but this not going to happen for at least another 25 years, bitcoin needs to start its journey by getting a strong grip over one of the influential countries to bring about a revolution leading to overthrowing banks
Topic: Can Bitcoin make Banks disappear? - page 77. (Read 427614 times)
Why not imagine both of them cooperating together? When the bank accepts bitcoin fully and is a mean to store bitcoin safely. We would all benefit from that!
Still with the high transaction fee of bitcoin, I do not think it will be the only day to day currency of everyone.
Still with the high transaction fee of bitcoin, I do not think it will be the only day to day currency of everyone.
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 that can not happen. By contrast, Bitcoin will make the bank grow. In addition to the era of digital money, we still need cash and a place of business where the accountability of our accounts is the bank, the role of the bank is necessary and It will never go away "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?
Most likely, banks will try to do everything to control BitCoin. Meanwhile, the state will create laws in favor of banks.
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?
Bitcoin has its advantage over Banks as the former is decentralized, no bank fees, no sole owner. Though. BTC is promising and a lot of investors are turning in to Crpto investing, it will take some time to oust the banks in the market. Banks have been in the market decades and decades ago, proven systems and there are billionaires behind it. Bitcoin will need to dvelop further the Blockchain tech to reach that point. "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 believe its not possible, the bank are way to effective and they will never allow this occur at any time, they financial institution is also hating the bitcoin so they will never ever happen for that cause also.Even though its not impossible of program but if it can occur it will nonetheless consider calendar year prior to this is even attainable.
Bitcoin can never replace bank at the given point in time since the medium of exchange being used around the globe is paper money. There are also some countries that ban the usage of bitcoins and any other cryptocurrencies of the same nature and also, there are countries who do not know the existence of bitcoins. It may be ideal to think that in the future, everything would be virtual. But given the presumption of removing banks, this would never happen anytime soon.
I believe its not possible, the bank are way to effective and they will never allow this occur at any time, they financial institution is also hating the bitcoin so they will never ever happen for that cause also.Even though its not impossible of program but if it can occur it will nonetheless consider calendar year prior to this is even attainable.
A place to loan isn't necessarily a bank. There are loaning services out there that aren't necessarily owned by the government nor the banks at all.
Those loaning services are the crappiest things ever invented by the human race toppling even toilets.
Huge interest, huge penalties and they work in almost every country at the limit of the law. Harassing late payers, doubling your sum if you were late even with a day promising something and charging you ten times more, hidden services, and many more.
If that is the alternative to banks, then let's hope banks will never disappear.
I think the bank will not have it because if it does, it will block some of the features of bitcoin, which limits the bitcoin. Many users will not use bitcoin anymore
A bank can't block bitcoin let alone its "features".
Uniquely, bitcoin will not make the banks disappear. Just the time will come when all banks will understand that without the use of crypto currency they can not exist, therefore they either adapt or close. Well it's obvious, because you need to adjust to progress. Of course, the cryptocurrency is changing the entire financial market.
I somehow agree on this. The telephone companies didn't disappear when the mobile phones took place about a decade ago, same as the USPS when emails took place in the 90s... I guess the banks would join the bandwagon once they realize that majority of people are patronizing it.Why would the phone companies disappear when they were the ones selling mobile phones and providing coverage?
The easiest analogy is with the banks themselves.
They worked with gold coins, they worked with silver coins, they worked with cash , they worked with digital cash they can switch to crypto.
Banks have adapted to the economic reality for centuries, they are not going to disappear so easily.
Bitcoin is going very famous in future because bitcoin gave a lot of profits to people and it will have a great affect on bank because in future more people will start investing in bitcoin and saving money in bitcoins.
Yes, Bitcoin is becoming really famous and liked by a lot of people all around the world. But do you really think that big companies like banks will just stand by while Bitcoin is destroying them? Banks always go where the profit is, and with that known it is just a matter of time before they start dealing with Bitcoin too. They will offer credits in Bitcoin like in any other currency. Banks will not go down so easily, they will last long long time. 
I'm hopeful it will not happen.Because banks are operated with each country's own currency.How Bitcoin will make the bank disappear there?If Bitcoin enters any country's economy, some pressure on the main currency will be reduced.Moreover, if Bitcoin is concerned with the bank, it is best to bank a bitcoin to cache it.
Bitcoin is the most prominent online transaction system of all time which provide us with many facilities such as fast and cheap online transactions which does not involve any paper work ,profitable investments ,anonymous transactions within or outside the country etc. But some services like saving accounts ,salary accounts ,home loans ,educational loans,debit and credit cards ,cash management etc are provided only by banks.Moreover Bitcoin is a decentralized transaction system so no government will allow such system on which they have no control to overpower a trusted and centralized system like Banks. So i dont think that Bitcoin can make Banks disappear.
in fact, practically all banking institutions with new people that they will let fall to the banking system. We must look into history and see how the whole structure was built and how it developed. Virtually no one could fix this sphere of human life and therefore bitcoin can not bring destabilization into banking work.
Bitcoin is the most renowned online transaction system of all time which provide us with many facilities such as fast and cheap online transactions which does not involve any paper work ,profitable investments ,anonymous transactions within or outside the country etc. But some services like saving accounts ,salary accounts ,home loans ,educational loans,debit and credit cards ,cash management etc are provided only by banks.Moreover Bitcoin is a decentralized transaction system so no government will allow such system on which they have no control to overpower a trusted and centralized system like Banks. So i dont think that Bitcoin can make Banks disappear.
Bitcoin is going very famous in future because bitcoin gave a lot of profits to people and it will have a great affect on bank because in future more people will start investing in bitcoin and saving money in bitcoins.
I think the bank will not have it because if it does, it will block some of the features of bitcoin, which limits the bitcoin. Many users will not use bitcoin anymore
Banks won't disappear. Why? People will still need loans and a place to store their cryptocurrencies even if we switch completely from cash to them. Banks won't earn on transactions and withdraw fees like today. Instead, they will charge for exchanging cryptocurrencies and they will earn from loans like today they do. I wouldn't be suprised if there were more banks and exchanges in the future.
I do think that the reason why banks wouldn't disappear is because the government is backing them up. Plus, there will always be rich people that are too afraid to try something new. They feel safe with the government although obviously if a bank gets bankrupt, they wouldn't get their money at all.
"People need a place to store their cryptocurrencies", don't you own a wallet to not know that we already have that? If you are trying to emphasize security and all that, well that is all up to you. It's even less secure if you store it in a cryptocurrency bank (a bank that stores cryptocurrencies) because you don't know if their system was already hacked upon generating a private key for you. If you do it on your own, you know that you are safe if you generate it to a fresh computer, or a computer that has Linux as operating system, lots of measures can be done actually.
A place to loan isn't necessarily a bank. There are loaning services out there that aren't necessarily owned by the government nor the banks at all.
I think it still can not because human beings still live in the real world so to conduct daily transactions for ordinary people need money that is physical. what's more for transactions to small seller seller would need money that is small value and physical form to facilitate the transaction therefore I think bitcoin can not replace the bank
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?
Yes becuase bitcoin become famous so i think in the future bitcoin bank is the new bank in all country. "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 don't know bitcoin will make banks .if bitcoin make banks, that will be good idea . Users use bitcoin will be more convenient
I'm sure not. Banks have too long roots in the human mind, they have a too long history and great influence. I'd rather expect the regulation of the crypto-currency market and the more ergonomic inclusion of it in the overall economic system on the rights of a full member
I don't think banks can be disappear maybe they also start work with bitcoin. Who's knows !!!
we use banks instead wallet to save our bitcoins. Since the hackers and security breakers are everywhere they can steal our bitcoins so maybe in future we use banks instead of wallets, but for sure they will not be ordinary banks. It can be that wallets are saved in banks and bank make use of their high firewall and security to keep the wallets and bitcoins save from hackers.
we use banks instead wallet to save our bitcoins. Since the hackers and security breakers are everywhere they can steal our bitcoins so maybe in future we use banks instead of wallets, but for sure they will not be ordinary banks. It can be that wallets are saved in banks and bank make use of their high firewall and security to keep the wallets and bitcoins save from hackers.
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