Topic: Can Bitcoin make Banks disappear? - page 96. (Read 427614 times)
Banks are historicly formed organisations and have definite place in finance system. I dont thinks its possible even in the near future (20~50 yrs)/
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.
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.
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 possible and even if its possible it would take long, its going to be a fierce battle between banks and bitcoin wallet owners because they won’t want a new invention to put them out of market. "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?
Maybe it is just an exaggeration, banks circulates paper currencies and it cannot disappear completely. I think it just means that when bitcoin is known to everybody and is used by everybody, it would lessen the need for banks but not completely removing the need for banks.
If bitcoin volume comes from the concentration of people who used to use fiat, then the bank will lose assets and inflation will happen soon if no one set it, this means the bank will disappear, if the government does not take the attitude of the tax and regulations, will look strong bitcoin wave and will not be controlled by anyone.
Maybe it is just an exaggeration, banks circulates paper currencies and it cannot disappear completely. I think it just means that when bitcoin is known to everybody and is used by everybody, it would lessen the need for banks but not completely removing the need for banks.
I think it will not happen because of the bitcoins issue of legality.As we can see,bitcoin isnt really legal in many countries and it will take some time for the bitcoin to be legal worldwide.But still there are possibilities for the bitcoin to overcome the banks.
I don't think that banks will disappear ,banks have their own reputation and safe procedure for users ,there is no relatioship between banks and bitcoin .
I don’t think that banks will disappear. They are more likely to switch to bitcoin some day and provide cryptocurrency-related services as well. Decentralization is good, but it’s not very convenient for certain people. So they will better pay more money and take the risk of trusting a third-party rather than use bitcoin by their own.
Bitcoin will not get the banks to disappear, because their owners will do their best to destroy bitcoin or introduce it into the banking system at the level with ordinary money.
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 bank can't be disappear, but their maybe change their system become to more friendly with bitcoin, or change thier function from saving our money to save our valueable thing. "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?
No, bank will still be important because they have a good reputation so both of them will exist together.
Banks are good for the people, to those who wants to secure their funds and let the banks use their money for the bank's intention. And I won't be thinking about this anymore as banks will not be replaced by any type of coin even bitcoin. They have a strong bond with the government and they are being governed and backed up by them.
This is another extreme possibility that I don't really accept, Banks, despite being the "protocol" and what is hated for allot of people do serve important functions in today's economy, Let alone mortgage, lending, credit cards. Even for merchants, taking loans from banks is a very important part of their existence as businesses, and even interest for depositors.
No, bank will still be important because they have a good reputation so both of them will exist together.
Bank will remain, it's hard to beat the government and replace them in their position, the world is run by people whom we elected, hence everything must be control by them. Whether we like it or not, we are still at risk when we are just holding bitcoin, it's not powerful than
a bank, we have to be realistic with that.
easy to disappear than the banks which already been established since then, but we cant predict what will happen in the future just enjoy what is happening
now.
I second demotion to just enjoy what is happening now and you will never go wrong
having side income through bitcoin really feels good and with just few of your time in a weel, you can be able to accumulate some coins. Just never mind whether banks will disappear or not because of bitcoin just enjoy and have fun! No, bank will still be important because they have a good reputation so both of them will exist together.
Bank will remain, it's hard to beat the government and replace them in their position, the world is run by people whom we elected, hence everything must be control by them. Whether we like it or not, we are still at risk when we are just holding bitcoin, it's not powerful than
a bank, we have to be realistic with that.
easy to disappear than the banks which already been established since then, but we cant predict what will happen in the future just enjoy what is happening
now.
No, bank will still be important because they have a good reputation so both of them will exist together.
Bank will remain, it's hard to beat the government and replace them in their position, the world is run by people whom we elected, hence everything must be control by them. Whether we like it or not, we are still at risk when we are just holding bitcoin, it's not powerful than
a bank, we have to be realistic with that.
No, bank will still be important because they have a good reputation so both of them will exist together.
Yes BITCOIN can make banks disappear due to its advantages which is fast and almost effortless transaction. Banks (which runs in fiat money). But it will still take time for it to happen.
I don't think so that bitcoin can make banks disappear as majority of people depend on banks for their day to day transactions and have more faith in it as they feel its the best place to keep their money safe so even if more people start using bitcoins in future they will use banks too as you need fiat money for your expenses as you cannot use bitcoins everywhere.
You are right mate, banks is already established in our financial institution. And it takes quite long decades before people will slowly detach themselves from banks but to be honest, it is just not that possible - just for me though.
Yes BITCOIN can make banks disappear due to its advantages which is fast and almost effortless transaction. Banks (which runs in fiat money). But it will still take time for it to happen.
I don't think so that bitcoin can make banks disappear as majority of people depend on banks for their day to day transactions and have more faith in it as they feel its the best place to keep their money safe so even if more people start using bitcoins in future they will use banks too as you need fiat money for your expenses as you cannot use bitcoins everywhere.
I don’t think so...
Bank has its own place in economy remember that so bitcoin and banks are catering different sections of our society.
Banks are present to safeguard customer’s cash holdings at a given time and lend them to those in need to collect revenue in the form of interests, that involves a central authority catering to needs of the public. They usually cater to specific locations and factors that decide their existence is the ratio between people having accounts/money in the bank to people willing to borrow money at set interest rates. Value of currency is subject to inflation. Tokens(Paper currency) aren’t capped and are issued by the government.
But bitcoin is an investment similar system that isn’t controlled by a central authority, but instead controlled by consensus. Bitcoin can be accessed and obtained by anyone with access to the internet but does not cater to the needs of the general public on an ad hoc basis. Any changes to be made are made on a consensus basis. The system controls the number of tokens(21 million) that can be issued/revolved ensuring that rotation of Bitcoin shall only increase its value.
so bitcoin cant make banks disappear
Bank has its own place in economy remember that so bitcoin and banks are catering different sections of our society.
Banks are present to safeguard customer’s cash holdings at a given time and lend them to those in need to collect revenue in the form of interests, that involves a central authority catering to needs of the public. They usually cater to specific locations and factors that decide their existence is the ratio between people having accounts/money in the bank to people willing to borrow money at set interest rates. Value of currency is subject to inflation. Tokens(Paper currency) aren’t capped and are issued by the government.
But bitcoin is an investment similar system that isn’t controlled by a central authority, but instead controlled by consensus. Bitcoin can be accessed and obtained by anyone with access to the internet but does not cater to the needs of the general public on an ad hoc basis. Any changes to be made are made on a consensus basis. The system controls the number of tokens(21 million) that can be issued/revolved ensuring that rotation of Bitcoin shall only increase its value.
so bitcoin cant make banks disappear
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