Topic: Can Bitcoin make Banks disappear? - page 99. (Read 427614 times)
Banks will not disappear with existence and popularity of bitcoin. Because bitcoin isn't controlled by anyone and bitcoin will not be able to complete large financial transactions such as for salary payments for example . Bitcoin is an alternative currency after fiat.
I don't think bank would disappear completely since the need to have one is always required but they might be significantly reduce though if BTC do managed to reach that kind of influence. I wouldn't worry about bank being rooted out completely since we still have a very very long journey ahead of us!
For many years, bitcoin established and created its name in the history of networking as a well-built cryptocurrency. Because of bitcoin's popularity especially this years where people are starting to notice its existence, bitcoin's demands keeps increasing. Bitcoin's value will keep increasing overtime but it is still not possible for cryptocurrency to replace banks. There are so many flaws needed to be fix before it becomes possible. One example is that its value is so unstable making it harder for investors to take risk. The other problem is the risk of losing your wallet's address where you would lose all your earnings.
I don't think bitcoin aim is to make bank disappear. There are still a lot of bank effect that bitcoin may not adopt. more so, bitcoin is a currency not a bank. At least, banks will be left for the old and illiterates that may not be able to operate bitcoin involving devices.
Even though more and more people are becoming disillusioned with banks and closing down their accounts and shifting to other methods of saving money like bitcoins I don't think this will make banks disappear, lots of jobs insists that employees have bank accounts so that they can be paid. Bitcoin and banks are catering diferent sections of our society.Banks run based upon the interest which they get from lending loans.Banks may run as long as they are profitable.Bitcoin is sustainable as long as there is demand for it.Banks are not only dependant on the income which they get from transaction fee.So,even if people switch from sending money through banks to bitcoin,even then it will not affect the banking sector that much.But in future, a new problem may arise for banks since most people would consider that it would be better to buy bitcoin as an investment than depositing their money in banks as deposits.If such situation arises in future,then banks would definitely face a critical situation to survive.
Banks are also investing in order to profit. They get their capitals from the deposits of their clients - without the deposits and investment of clientele, banks will be at risk of collapsing one bank to another - however, I believe it is far from happening.
World banking system is created on the forces of balances and vectors, it's more sensible than we can guess. In a case of deposit problems, they can face an economic crysis. They rely on governments and capitalist rich people. They never let banking system disappear from the earth. They have billions of dollars already invested in banks.
Bitcoin and banks are catering diferent sections of our society.Banks run based upon the interest which they get from lending loans.Banks may run as long as they are profitable.Bitcoin is sustainable as long as there is demand for it.Banks are not only dependant on the income which they get from transaction fee.So,even if people switch from sending money through banks to bitcoin,even then it will not affect the banking sector that much.But in future, a new problem may arise for banks since most people would consider that it would be better to buy bitcoin as an investment than depositing their money in banks as deposits.If such situation arises in future,then banks would definitely face a critical situation to survive.
Banks are also investing in order to profit. They get their capitals from the deposits of their clients - without the deposits and investment of clientele, banks will be at risk of collapsing one bank to another - however, I believe it is far from happening.
Bitcoin and banks are catering diferent sections of our society.Banks run based upon the interest which they get from lending loans.Banks may run as long as they are profitable.Bitcoin is sustainable as long as there is demand for it.Banks are not only dependant on the income which they get from transaction fee.So,even if people switch from sending money through banks to bitcoin,even then it will not affect the banking sector that much.But in future, a new problem may arise for banks since most people would consider that it would be better to buy bitcoin as an investment than depositing their money in banks as deposits.If such situation arises in future,then banks would definitely face a critical situation to survive.
I dont thinks so. Banks even benefit from bitcoin users the moment users make transactions with them by charging them on services they make. So if they benefit form bitcoin users (not all) so it makes them stand all the more. Just an opinion.
i don't think so. Banks will remain. Banks can change it system as well into digital currency and fiat.
I think the banks will not go away. If it goes away, a large amount of traditional money will go to where. So the government will never let the banks disappear and instead the banks will accept bitcoin. People can send and withdraw bitcoin in the bank. So I think bitcoin can not make the bank disappear that it will together develop
Certainly. Because bank makes every commercial transaction and savings in order. They are well regulated to safeguard depositors and investors - if banks will disappear, there will be chaos and when that chaos happens, bitcoin is the ideal thing to have but it is really far from happening.
I think the banks will not go away. If it goes away, a large amount of traditional money will go to where. So the government will never let the banks disappear and instead the banks will accept bitcoin. People can send and withdraw bitcoin in the bank. So I think bitcoin can not make the bank disappear that it will together develop
I think it can happen. Nothing is impossible.
Now we just waiting for the momen bitcoin make a bank.
Sooner or later bitcoin can create a bank
There might be a chance. Nowadays,banks are getting or having low profits from customers who save their money with a low interest monthly. Maybe that's one of the reasons why they are attacking bitcoin because the competency arises even if it's in a discrete way but they can trace any marks. They can see that many are investing to bitcoin because the market in banks are decreasing. Now we just waiting for the momen bitcoin make a bank.
Sooner or later bitcoin can create a bank
Bitcoin can’t make banks disappear…even if it does has a chance, it will be a 20% chance. But bank has about 60% or more chances. Lastly, you should know that Bitcoin is likely to hit its limit anything, which will lead to a big sellout and all money withdrawn to banks or other Cryptos (altcoins.)
oh very hard question i think have a possibilities the banks disappear in the circulation if the world recognized the decentralized crypto currencies as the currency (bitcoin) thats only my opinion or maybe the government of each coutry decide the 50% currency from bitcoin 50% from local currency, please comment its become working sooner.
We still need banks to exchange are Bitcoin with flat currency. But maybe one day everything will be done with cryptocurrencies. But Banks and States won't like the fact that they won't be able to control how much money a person have. The Banks are trying to make us use our smartphone to buy things.
They want to control the big data. So they can sell there customers data.
The only thing which is not safe with Bitcoin is that you need to secure your wallet. If you lost it, you lose everything. So it is better to not put everything on Bitcoin.
I don't think Banks will disappear. And people are too used to flat currency.
But i think credit cards will disappear. They won't be useful.
They want to control the big data. So they can sell there customers data.
The only thing which is not safe with Bitcoin is that you need to secure your wallet. If you lost it, you lose everything. So it is better to not put everything on Bitcoin.
I don't think Banks will disappear. And people are too used to flat currency.
But i think credit cards will disappear. They won't be useful.
I don't think bitcoins would make banks disappear completely rather make them less important in the future, because government owned the banks.
Governments made their money through these banks and Government will hold on to them until the end of time. Without banks there will be no "central bank" in any country. Government gave loans to the banks from "Central Bank", so that the banks can give it to the masses with high interest. Banks are government pets, so they're both milking the masses. And also People pay government bills through banks where they'll get teller or receipt as a proof of payment from bank. How do you think this would be implemented with the government, anyway???
Governments made their money through these banks and Government will hold on to them until the end of time. Without banks there will be no "central bank" in any country. Government gave loans to the banks from "Central Bank", so that the banks can give it to the masses with high interest. Banks are government pets, so they're both milking the masses. And also People pay government bills through banks where they'll get teller or receipt as a proof of payment from bank. How do you think this would be implemented with the government, anyway???
fiat is regulated by the government and that is what it makes somehow safeguarded and already became an institution. Without fiat money, government will be having hard time to control its economy and may lead to chaos. However, the emerging of bitcoin is just an alternative for people to use and invest with it and not necessarily replace the banks..
Theres always a need for Fiat imo I don't think bitcoin will make banks dissapear but banks adopting to bitcoin
I don't think bitcoins would make banks disappear completely rather make them less important in the future, because government owned the banks.
Governments made their money through these banks and Government will hold on to them until the end of time. Without banks there will be no "central bank" in any country. Government gave loans to the banks from "Central Bank", so that the banks can give it to the masses with high interest. Banks are government pets, so they're both milking the masses. And also People pay government bills through banks where they'll get teller or receipt as a proof of payment from bank. How do you think this would be implemented with the government, anyway???
Governments made their money through these banks and Government will hold on to them until the end of time. Without banks there will be no "central bank" in any country. Government gave loans to the banks from "Central Bank", so that the banks can give it to the masses with high interest. Banks are government pets, so they're both milking the masses. And also People pay government bills through banks where they'll get teller or receipt as a proof of payment from bank. How do you think this would be implemented with the government, anyway???
I don't think bitcoin aim is to make bank disappear. There are still a lot of bank effect that bitcoin may not adopt. more so, bitcoin is a currency not a bank. At least, banks will be left for the old and illiterates that may not be able to operate bitcoin involving devices.
Yeah I'm with you, I think bitcoin is more than that. Banks will always be there because there will always be people who are used to using banks because it is where they feel safe. It really depends on how fast everyone can adopt these kind of changes.I don't think bitcoin aim is to make bank disappear. There are still a lot of bank effect that bitcoin may not adopt. more so, bitcoin is a currency not a bank. At least, banks will be left for the old and illiterates that may not be able to operate bitcoin involving devices.
Yeah I'm with you, I think bitcoin is more than that. Banks will always be there because there will always be people who are used to using banks because it is where they feel safe. It really depends on how fast everyone can adopt these kind of changes. 
I don't think bitcoin aim is to make bank disappear. There are still a lot of bank effect that bitcoin may not adopt. more so, bitcoin is a currency not a bank. At least, banks will be left for the old and illiterates that may not be able to operate bitcoin involving devices.
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