Topic: Can Bitcoin make Banks disappear? - page 84. (Read 427614 times)
For me, bitcoin cant, because they are not the same in terms of function on how its works, bitcoin can really gives us financial freedom by investing on bitcoin, while banks are not, banks are getting profits from us client to secure our money in the future and they are both useful. Banks are the foundation of all fiat money in whole world, so for me banks cannot dissapear by bitcoin.
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...
Well bitcoins were made to give people financial freedom.but make sure that all people know what is btc...in my country just a less people know bitcoin...
Banks are actually getting profit from bitcoins we all know that after earning considerable amount in BTC we all convert it into fiats by depositing in banks . Banks would just start using bitcoins or they would change the way they are functioning now .
Banks will be like the post office of today vs email.
How often do you go to the post office since email?
But more seriously, I see BTC becoming more of a sovereign/quasi proof of wealth.
So a Bank or country will have demonstrate collateral to attract a good credit rating, and so investment funds of say legacy fiat at the best rate.
Lenders will increasingly accept BTC a collateral, where they get the BTC, or multisig the BTC.
A lender can see immediately if the Bank or Government actually has what they say the have and can see if it is moved.
This will make lenders much much more easily be able to assess a large part of the risk to their funds.
Further in the multisig case it would be very hard for a gov to nationalize the underlying asset, eg multsig BTC at the expense of the investor or lender.
How often do you go to the post office since email?
But more seriously, I see BTC becoming more of a sovereign/quasi proof of wealth.
So a Bank or country will have demonstrate collateral to attract a good credit rating, and so investment funds of say legacy fiat at the best rate.
Lenders will increasingly accept BTC a collateral, where they get the BTC, or multisig the BTC.
A lender can see immediately if the Bank or Government actually has what they say the have and can see if it is moved.
This will make lenders much much more easily be able to assess a large part of the risk to their funds.
Further in the multisig case it would be very hard for a gov to nationalize the underlying asset, eg multsig BTC at the expense of the investor or lender.
Banks can't disappear. The function of banks is differ from bitcoin because there are many function of banks which can’t be done by bitcoin. Like advances to customers, Locker facility.
Banks are the chain in the world everywhere while bitcoin is not the one doing one part of that. Through Banks we can do transaction in a small village.
Banks are the chain in the world everywhere while bitcoin is not the one doing one part of that. Through Banks we can do transaction in a small village.
Well, I think bank will still remain because they are not just the one who are called to let you money stay for a while but also people who wanted to borrow money like a lending company.
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...
Well bitcoins were made to give people financial freedom.but make sure that all people know what is btc...in my country just a less people know bitcoin...
Banks are actually getting profit from bitcoins we all know that after earning considerable amount in BTC we all convert it into fiats by depositing in banks . Banks would just start using bitcoins or they would change the way they are functioning now .
I can not say yes, if Bitcoin can destroy the Bank, and I can not say no, but if we look at it from now on in Bitcoin, we do not really need Banks, we only need Bank when we want to exchange from Bitcoin to our conventional currency ..
I think banks will simply adopt to bitcoin and other crypto currencies. Presently one of the main service banks provide to the general public are accounts holding your "money" (fiat currency) on your behalf, and paying you a minimal interest rate. One of the main reasons is so that you don't have to keep your cash under your mattress. So in essence banks provide a "safe" place to keep your money. In the future they will maintain a similar business structure and offer Bitcoin or other crypto currency accounts, with the benefit to the user that they don't need to maintain their own wallets and worry about losing them. Obviously this is still a centralized model which is the antithesis of bitcoin, but that is how the mainstream public will keep thinking for a long time. They will want bitcoin, but then also will want someone to look after them. I think the main worry of most crypto currency holders is losing their wallet or their private key being compromised. And a bank would solve that in their minds.
I think It is not possible, cause bitcoin is Decentralized and it is not stable like real money.
People believe in Banks cause it is fully centralized and buying BTC for growing their real money. So, I think It is not possible that Bitcoin will able to disrepair Banks.
People believe in Banks cause it is fully centralized and buying BTC for growing their real money. So, I think It is not possible that Bitcoin will able to disrepair Banks.
Sorry mate but I disaggre to you, it is impossible to bitcoin to disappear bank because of its uncontrollable transaction ( decentralized ) that's the main problem for bitcoin even it is famous now but still a lot of people/country have not yet accepting bitcoin that's why there's no option/way to replace the bank because it's trusted for long time
of course bank can be disappear with growing bitcoin.
If until the bank was replaced by Schwab how the fate of people who do not know bitcoin in the withdrawal of money? I think it will add more difficulties that can panic for them.
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...
Well bitcoins were made to give people financial freedom.but make sure that all people know what is btc...in my country just a less people know bitcoin...
Banks are actually getting profit from bitcoins we all know that after earning considerable amount in BTC we all convert it into fiats by depositing in banks . Banks would just start using bitcoins or they would change the way they are functioning now .
I think It is not possible, cause bitcoin is Decentralized and it is not stable like real money.
People believe in Banks cause it is fully centralized and buying BTC for growing their real money. So, I think It is not possible that Bitcoin will able to disrepair Banks.
Bitcoin will not replace banks but banks will try to integrate part of crypto oncept or at least part of services related to investing or buying btc. As example - Revolut. They already announced that they receive huge demand from current customer base to start services like buying btc and investing so they plan to offer similar services in future People believe in Banks cause it is fully centralized and buying BTC for growing their real money. So, I think It is not possible that Bitcoin will able to disrepair Banks.
Bitcoin could become part of banks and banks could become part of the blockchain system. They will be integrated.
This can become possible but there are some issues... banks can't go separatily without govs and as far as govs will always want to be in control and to watch what people are doing and who are these people they will force banks to continue their "know your customer" policy so part of people will have disclose their identity if they will want participate with banks
I think It is not possible, cause bitcoin is Decentralized and it is not stable like real money.
People believe in Banks cause it is fully centralized and buying BTC for growing their real money. So, I think It is not possible that Bitcoin will able to disrepair Banks.
People believe in Banks cause it is fully centralized and buying BTC for growing their real money. So, I think It is not possible that Bitcoin will able to disrepair Banks.
It seems that experts say that Bitcoin 'Here to Stay,' But Banks Could Disappear.
Well they can, but what would replace them? People are not only digital, but also analog still.
People need banks and need bitcoin even more.
Bitcoin could become part of banks and banks could become part of the blockchain system. They will be integrated.
I would say it's the other way around, banks (with support of their respective governments) can make bitcoin "disappear".
And by disappear I don't mean ending the network, but enough regulations could really mess with the price and usability of btc.
And by disappear I don't mean ending the network, but enough regulations could really mess with the price and usability of btc.
I do not think so, Bitcoins cannot really remove banks because it was been used by different companies and it will affect the entire country. The only possible thing to happen is to have a virtual money that can be used to pay bills on the restaurant or online.
I dnt think it will ever happen.bitcoin is money and bank is the place where you can safely put that.so we need bank must
Jump to: