Topic: Can Bitcoin make Banks disappear? - page 90. (Read 427614 times)
The idea is for you to be your own bank.
I think its not achievable, the bank are way to strong and they will never let this come about at any time, they lender is also hating the bitcoin so they will by no means take place for that purpose way too.Though its not not possible of training course but if it can take place it will nevertheless just take year just before this is even attainable.
I do not think that bitkoyn can close the banks, due to the fact that it remains the main tide of money for the influential people of the planet. Although, everything can be happend)
Undoubtedly can make banking companies disappear, but not now given that the federal government are even now employing fiat, which is based mostly on a big huge lie.
In my opinion it's impossible, banks can't be replaced by Bitcoin, Yes Bitcoin can be a valuable asset in the future but it can never replace a physical financial institution like a bank. Since banks is also considered a backbone of a nation when it comes to financial funding, banks have the backing of a government. Banks are also a solid form of guarantee that provides loans and it is also a place where people store not just their money but also other physical valuables like gold or other precious gems.
I think banks will not disappear even the bitcoin is famous and the business are starting to use it as a term of payment it will not make banks disappear. I think banks will improve, their system will improve, and their technologies will upgrade so that the can go with the flow of the bitcoin’s popularity. Or maybe they can think a way that they can also use the popularity of crytocurrencies. And the people who are not mostly using technologies will be against it.
Imho, the 1st big American bank that embraces BTC, ETH and co (a la coinbase) will gain a lot.
I'd love to see my bank being able to hold my BTC, propose me a credit card that can use BTC or ETH, or their own token when I am abroad or paying stuff in other countries, or even help me with the IRS after my x20 gains in USD, then even help me invest in less risky stuff... propose financing in cryptos, via smart contracts etc...
The day banks, or investment funds (like Fidelity) will consider cryptos as friends, they will win Big time.
Their role need to change a bit: from money holders to advisors and pathfinders.
It is like the IT industry moving from Hardware to SaaS, or Google embracing mobile with Android (a free os!!)
Paradigm change... but more business in the end.
I'd love to see my bank being able to hold my BTC, propose me a credit card that can use BTC or ETH, or their own token when I am abroad or paying stuff in other countries, or even help me with the IRS after my x20 gains in USD, then even help me invest in less risky stuff... propose financing in cryptos, via smart contracts etc...
The day banks, or investment funds (like Fidelity) will consider cryptos as friends, they will win Big time.
Their role need to change a bit: from money holders to advisors and pathfinders.
It is like the IT industry moving from Hardware to SaaS, or Google embracing mobile with Android (a free os!!)
Paradigm change... but more business in the end.
may be. because now many people are starting to like transactions using bitcoin, and many people who hold bitcoin in their wallet. I think with that they can benefit more than put their money in 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, bitcoin is very popular today and also the other cryptocurrencies are starting to boom. But I dont think that Banks may finally lost because some people especially the older one, some of them are not using gadgets so they prefer to go to banks to deposit or get their money than converting it to internet. "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?
I think for now bitcoin can't make banks disappear because not all people don't know about the bitcoin. But i think if all people know about the bitcoin and what the meanings and how to use it only few know about the bitcoin for now but i think if bitcoin become recognizable and the other people who doesn't know you can convince them and if that happens probably it makes banks 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?
It can because Bitcoin can be stored in online wallets but it will surely take a lot of time as today Bitcoin is popular but it takes time for people to change their mindset and opt for a change.
To my mind bitcoin can make a great hert to banks, however, so clever structure that soon they will discover ways how to get advantages and profit from bitcoin.
If not, bitcoin will beat banks.
If that was possible, a lot of stocks that came before Bitcoin would have done it and Bitcoin will only be left with the option of taking over those stocks. So it isn’t possible, because the world needs banks; no matter how far technology goes. If not, bitcoin will beat banks.
I think No. Not everybody is familiar with bitcoin. And some of the big businesses, companies and even our government used banks. But hopefully, banks will adapt in the future and accepts bitcoin for easy and faster transactions.
could be the bank will disappear.Given the fee from bitcoin which is relatively cheap to make investors look at it as an investment with a small fee from the assets owned nya.Kendalanya until now remain classic considering bitcoin msih somewhat foreign in some circles so it takes a long time to shift from real money as an asset that is kept in the Bank rather than choosing bitcoin.
If Banks are smart, they will embrace bitcoin.
Look at what Fidelity investments did. A little step towards an integration.
For 99% of the people, having a BTC wallet in your Bank of America or Chase account would be a huge plus. Imagine the mass adpotion if they create cards a la TenX...
And the banks would still make money on fees, and remain your primary "human" point of contact for the rest.
It is not the decentralized dream most of us imagine, but it is a real fast path for mass adoption. Savvy users keeping the possibikity to keep their btc out of the system if they want: the best of 2 worlds.
Look at what Fidelity investments did. A little step towards an integration.
For 99% of the people, having a BTC wallet in your Bank of America or Chase account would be a huge plus. Imagine the mass adpotion if they create cards a la TenX...
And the banks would still make money on fees, and remain your primary "human" point of contact for the rest.
It is not the decentralized dream most of us imagine, but it is a real fast path for mass adoption. Savvy users keeping the possibikity to keep their btc out of the system if they want: the best of 2 worlds.
I don't think it will happen. Because its not possible to close all other currencies and start only crypto currencies. It may happen that banks will start working on bitcoin legally but simultaneously the will also keep other currencies too. I have even heard from CA that they have legal option for tax on bitcoin and all.
No, I hope not, they will take all the deposits with them if they do !!!
Very likely, when all transactions can be done by yourself without any bank will certainly make the banks deserted and slowly can close the business. I'm sure if everyone using bitcoin, then the bank will close automatically but no time soon, because the user has not been much bitcoin.
Bank is already an institution and it is just simply hard to erase it in the face of the world because of bitcoin. They can work together though but not necessarily remove one over the other. Majority transactions are still involving bank transactions and it will stay here for awhile or maybe until the end of the world.
Very likely, when all transactions can be done by yourself without any bank will certainly make the banks deserted and slowly can close the business. I'm sure if everyone using bitcoin, then the bank will close automatically but no time soon, because the user has not been much bitcoin.
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?
I think it will never happen that bitcoin can disappear bank. We all know that to make us use bitcoin we need real currency and real currency is came from banks. So how can we use bitcoin without these banks ? Maybe if the government would make the bitcoin as a real currency also. But I think its far to happen.
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