Can Bitcoin make Banks disappear? - page 95.

8Habits

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Quote from: traderethereum on August 31, 2017, 02:34:40 AM

Quote from: mrfreezeh on August 31, 2017, 12:51:43 AM

Quote from: ALI AKBAR on August 30, 2017, 10:47:45 AM

My personal thinking said that, bank will not disappear.because of that,everyone don't know about bitcoin but they know about bank very well.in this reason, the users of bank is more than the users of bitcoin. so, bitcoin can't make banks disappear.

Do you remember in history, we use coin gold, silver, bronze before use paper money like now? Ok, if you know that, you also understand in someday Bitcoin can pass FIAT and replace paper money if the growth of Bitcoin cannot stop.

maybe banks will disappear if banks can not make new innovations to compete with bitcoin or maybe banks will integrate with blockchain technology so banks and bitcoin can work together. there are many possibility that will be happen in future as we don't know what will happen in future and i think right now, it is better for us to use our time to prepare ourselves to face the future.

Could not agree more. The way to prepare for the future is to have some bitcoin savings that you will not touch as long as you can and only withdraw certain percentage that you really need. This savings shall not form part of your other investment like bankroll in your trading and ico investing.

mroth7684

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Impossible or hard to make bank disappear. we always need a middle before send money to anyone. Bank is invest on blockchain tech. They have many money to kill bitcoin

zoho

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Quote from: BTCBinary on January 11, 2016, 09:40:58 PM

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?

to be practical, if banks are closed how many people will go jobless? and also it is impossible to eradicate the use of paper currency totally. it may take some years to change the world totally digital.

traderethereum

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Quote from: mrfreezeh on August 31, 2017, 12:51:43 AM

Quote from: ALI AKBAR on August 30, 2017, 10:47:45 AM

My personal thinking said that, bank will not disappear.because of that,everyone don't know about bitcoin but they know about bank very well.in this reason, the users of bank is more than the users of bitcoin. so, bitcoin can't make banks disappear.

Do you remember in history, we use coin gold, silver, bronze before use paper money like now? Ok, if you know that, you also understand in someday Bitcoin can pass FIAT and replace paper money if the growth of Bitcoin cannot stop.

maybe banks will disappear if banks can not make new innovations to compete with bitcoin or maybe banks will integrate with blockchain technology so banks and bitcoin can work together. there are many possibility that will be happen in future as we don't know what will happen in future and i think right now, it is better for us to use our time to prepare ourselves to face the future.

A.H.Rassel

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I can hardly imagine how Bitcoin can vanish bank in future since banks are the most conventional and put stock in foundation for the customary individuals, all individuals come to the web and utilize digital currency it's very unthinkable I think, therefore, Bitcoin can't vanish Bank in future

mrfreezeh

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Quote from: ALI AKBAR on August 30, 2017, 10:47:45 AM

My personal thinking said that, bank will not disappear.because of that,everyone don't know about bitcoin but they know about bank very well.in this reason, the users of bank is more than the users of bitcoin. so, bitcoin can't make banks disappear.

Do you remember in history, we use coin gold, silver, bronze before use paper money like now? Ok, if you know that, you also understand in someday Bitcoin can pass FIAT and replace paper money if the growth of Bitcoin cannot stop.

valentin68

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In my opinion banks will not dissapper, not because of bitcoin. Bitcoin is something that competes the banks, but banks and especially bankers are here to make us money, and they will survive, no matter what. The capitalisation of bitcoin is, I guess less than 0.1% of the total money in the world, so classic money are going to survive, at least for another 20-30 years. Banks are going to survive for ever, I think.

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Quote from: classics on August 30, 2017, 11:15:00 AM

Banks will not all disappear but bitcoin will impact tremendously on banks transaction volume and deposit size which will obviously reduce banks profit and may lead to loss of job.

Not only that, it will not only banks will be affected but a lot of jobs in this world because with bitcoin life would be easy.
It's expected already a new technology will reduce the need of manpower as it is more accurate and less expensive.

devrawal93

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It is not easy to comment whether banks will disappear or not, since every Nation's major part of their Economy depends on their banking system. And if it has to shut down for any reason, then there has to be strong reason behind it. Something like Big financial crash or debt crisis, and even that will not shut down the banks easily, it will take big time and efforts to do so. But this world is changing at the dramatic speed,and you all can see the example of E-commerce, how it is been Enhanced in past few years and how it is improving day by day. This improving Behaviour in E-commerce sector, has given rise to demand in Bitcoins,E-wallets and E-banking system ( latest example is PAYTM). So i can tell that there may not be any kind of shut down in banks for now,but yes there are high chances of increase in bitcoins activities in this world.

classics

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Banks will not all disappear but bitcoin will impact tremendously on banks transaction volume and deposit size which will obviously reduce banks profit and may lead to loss of job.

ALI AKBAR

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My personal thinking said that, bank will not disappear.because of that,everyone don't know about bitcoin but they know about bank very well.in this reason, the users of bank is more than the users of bitcoin. so, bitcoin can't make banks disappear.

leonair

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Everything can happen and we all know that even if it is in the digital world, if Bitcoin can make Banks disappear then maybe yes or maybe no. Just like Kodak a company that is so well known about the picture in 80's to 90's it suddenly disappear after the boom of the digital camera and some cellphone that have camera. Everything is subject to change it is just a matter of time to when it will be.

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bank will not disappear because government use bank .and many people use loan so they can start business they are offering financial advice financial services and insurance and unlike bitcoin wallet its more safe if you deposit on bank but not have interest. and protect against money losing value against inflation.

Dainye_dyep

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Quote from: Rude Boy on January 11, 2016, 10:09:46 PM

I think, banks will not be disappear. Instead, they'll start using bitcoins instead of fiat currency with some regulations like in fiat.

True, and banks were part of investments , it is the place where we cash out profits that we have gain herr in bitcoin or in other things that we see as a extra income,banks in near future may be accepting bitcoin system and thry should accept it since bitcoin is already gaining it popularity worldwide big possibility that sooner it may run with fiat and other currency and be legalized worldwide for tge most of the people to use.

barabarian1

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bitcoin never make bank disappear.
if you need money instantly, you must go to bank, not bitcoin. yes we're admitt that bitcoin give you more money than bank, but bitcoin take the time to give you money.
so, i think all people that use bitcoin also need bank too

giga_999

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at this moment BTC can't replace banks but in the future it is possible. Banks will be changed, we won't have traditional banks, their role will be reduced.

8Habits

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Quote from: Viscore on August 30, 2017, 02:32:41 AM

Quote from: kirkeyah on August 30, 2017, 02:10:24 AM

I think no, with my own view the Bank has bigger part of digital currencies since some people were earning already then hey converted BTC to local currency then take it from any ATMs.

Of course, of the total number of users only few are really holding bitcoins, traders who do day trades usually cash out their profit.
In short they are only using bitcoin as a tool to make money and at the end of the day they'll cash it out.

With having many traders, it will still add to the bitcoin industry and makes it popular among any form of investment as well - although yes, it is true that most of the traders do cashout from time to time but I guess they also know the value of bitcoin and is holding some of coins on their wallet apart from their bankroll in trading platforms.

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Quote from: kirkeyah on August 30, 2017, 02:10:24 AM

I think no, with my own view the Bank has bigger part of digital currencies since some people were earning already then hey converted BTC to local currency then take it from any ATMs.

Of course, of the total number of users only few are really holding bitcoins, traders who do day trades usually cash out their profit.
In short they are only using bitcoin as a tool to make money and at the end of the day they'll cash it out.

kirkeyah

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I think no, with my own view the Bank has bigger part of digital currencies since some people were earning already then hey converted BTC to local currency then take it from any ATMs.

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Quote from: Zooplus on August 30, 2017, 01:57:16 AM

Quote from: mmhaimhai on August 30, 2017, 01:47:11 AM

Banks are quite impossible to disappear maybe a certain bank would close due to bankruptsy or some other issue but not all bank would. There would be operation of bank as long as there are usage of fiat money.

Big banks will stay and they will remain profitable, there are banks that are run by the government and no way they will go bankrupt.
We are heading to a digital world but bank will surely adopt the change but will make their own digital currency.

We're heading to the digital world, same time some countries have adopted the technology whereas some haven't. In the meantime following bitcoin several banks have created their own digital currency for transactions within the country.

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