Before bitcoin wants to kill banks, bitcoin also needs to be responsible enough to handle the problems that arise, but perhaps it cannot, there's no need to talk about governments and their rules, Bitcoin is still hard to cooperate with users like banks are doing
The dream of bitcoin killing the central banks is a dream that is seen by a small number of people who does not have any idea about economic and you will hear many asking these questions time and time again. Bitcoin is not created to compete with any other financial asset but as an alternative and we are still in the early stages and we might reach a scaling solution where you can send hundreds and millions of transaction per minute. 
Topic: Can Bitcoins kill Central Banks? - page 9. (Read 1759 times)
It's all about the money, and crypto is reshaping the understanding of it! I strongly believe that the end of central banks is near, they will not have the purpose in the way they exist now! Cryptocurrencies are level above, and it's just a question of time when the whole world will start using it! Yes, I believe in full adoption, which will come over time... and banks, if they don't change their operations, will be doomed to fail!
It's a war... central banks and a decentralized system! And people choose decentralized more and more, we want freedom without high fees, and we know how to use alternatives now!
In the end, we are evolving, and for something new to come, I guess something old has to die! Like in this case!
It's a war... central banks and a decentralized system! And people choose decentralized more and more, we want freedom without high fees, and we know how to use alternatives now!
In the end, we are evolving, and for something new to come, I guess something old has to die! Like in this case!
what you have to know is that central banks cannot kill off Bitcoin, that’s not going to be easy, in fact it’s not possible for that to happen because when they break down the centralized wallets and exchanges that we all know, people then start to go for peer to peer and stop making use of centralized exchanges, and in a situation like this there would be no way for them to take down bitcoin. Then as for whether Bitcoin can kill off central banks? I doubt that too, it’s not going to happen, we are just going to have the both of them coexisting.
Central banks can't kill bitcoin and bitcoin can't kill central banks, they just have to agree to live together without bothering each other too much. Sure I am all for regulations, regulations for central banks, regulations for private banks and regulations for crypto, there are way too many people who have lost money in crypto that could have been saved, let the crypto companies be registered and have a serious audit going on constantly like a regular company and you will see save a lot of people from losing money.However most governments only take a look at the fiat accounting of those companies while those scam companies steal crypto which governments do not even look at, so when accounting audit happens for crypto and those regulations get better we are going to see governments, central banks and crypto all live happily together.
The answer is simple - no, bitcoin will not kill banks!
Why? Because governments will never allow an uncontrolled entity to replace a government-controlled, formal payment mechanism. The only thing that bitcoin, as a technology, can influence, is to push banks to use part of blockchain technologies in banking technologies.
Why? Because governments will never allow an uncontrolled entity to replace a government-controlled, formal payment mechanism. The only thing that bitcoin, as a technology, can influence, is to push banks to use part of blockchain technologies in banking technologies.
This answer pretty much sums up what I think. There's no chance governments are going to relinquish control over the monetary system. And as for bitcoin replacing it unwillingly, the economy was much choppier and less predictable on the gold standard, so it's really unlikely people will want to return to all the economic insecurity that accompanies a deflationary currency.
The answer is simple - no, bitcoin will not kill banks!
Why? Because governments will never allow an uncontrolled entity to replace a government-controlled, formal payment mechanism. The only thing that bitcoin, as a technology, can influence, is to push banks to use part of blockchain technologies in banking technologies.
Why? Because governments will never allow an uncontrolled entity to replace a government-controlled, formal payment mechanism. The only thing that bitcoin, as a technology, can influence, is to push banks to use part of blockchain technologies in banking technologies.
This answer pretty much sums up what I think. There's no chance governments are going to relinquish control over the monetary system. And as for bitcoin replacing it unwillingly, the economy was much choppier and less predictable on the gold standard, so it's really unlikely people will want to return to all the economic insecurity that accompanies a deflationary currency.
In the nearest future, Bitcoin or other cryptocurrencies will not be a threat to the central banks. It's not that easy to change the way the modern economy and markets function nowadays. Basically, all governmental operations and all large companies should function in accordance with the law, otherwise, it would be chaos, wouldn't you agree?
No one can abdicate central banks, that will be a suicide for the government for many reasons. One of them is taxation, where will the money come from if everything was done through blockchain? Another thing is control, can you imagine a functioning government, where all businesses are run indiscriminately?
There should be a system to make this work. As of today, I'm not aware of any sound solutions for resolving these problems. While it remains so - the central banks have nothing to worry about.
No one can abdicate central banks, that will be a suicide for the government for many reasons. One of them is taxation, where will the money come from if everything was done through blockchain? Another thing is control, can you imagine a functioning government, where all businesses are run indiscriminately?
There should be a system to make this work. As of today, I'm not aware of any sound solutions for resolving these problems. While it remains so - the central banks have nothing to worry about.
It's not about Killing banks , it's more about " making sure that they integrate the banks along with the crypto market" the reason for this is Simple:-
Not everyone has the opportunity to use crypto as a currency Which does mean that they have to rely on the limited options available to them which does mean they need a working exchange which is instantly going to transfer your crypto to whatever currency you prefer in your bank account. Which is how I do use cryptos if needed at emergencies.
This is how it goes therefore what's needed is :
Government Willing to be more fluid and letting crypto and the normal economy Integrate themselves at a much deeper levels.
I do think Killing is not necessary at all. What's needed is proper integration. Proper regulation.
Not everyone has the opportunity to use crypto as a currency Which does mean that they have to rely on the limited options available to them which does mean they need a working exchange which is instantly going to transfer your crypto to whatever currency you prefer in your bank account. Which is how I do use cryptos if needed at emergencies.
This is how it goes therefore what's needed is :
Government Willing to be more fluid and letting crypto and the normal economy Integrate themselves at a much deeper levels.
I do think Killing is not necessary at all. What's needed is proper integration. Proper regulation.
although bitcoin is more valuable than real fiats, it's still impossible to erase some bank even in third world countries.. Indeed government will not allow this thing to happen as well like for real.. Because we have some protocol to follow when it come real money wherein even making joke with it in public or you burn it still prohibited. You will face a serious problem for it against government, and will be in prison for how many years. For this reason its very impossible to replace crypto currency even in the future..
Whether we are in a poor or developed country, banks will be a fairly safe way of transporting money, complaints or refund requests due to errors, most of the problem is solved under their system while bitcoin in terms of value is probably quite high, but their system is relatively inflexible and quite difficult to handle losses. Before bitcoin wants to kill banks, bitcoin also needs to be responsible enough to handle the problems that arise, but perhaps it cannot, there's no need to talk about governments and their rules, Bitcoin is still hard to cooperate with users like banks are doing
although bitcoin is more valuable than real fiats, it's still impossible to erase some bank even in third world countries.. Indeed government will not allow this thing to happen as well like for real.. Because we have some protocol to follow when it come real money wherein even making joke with it in public or you burn it still prohibited. You will face a serious problem for it against government, and will be in prison for how many years. For this reason its very impossible to replace crypto currency even in the future..
bitcoin cant kill CB.
but it moves an entire generation of people.
it moves CB in their thoughtrealm.
it moves technology.
it changes banks.
it makes people think about fiat systems.
it is the first step into decentralized trust and value networks.
enjoy...
but it moves an entire generation of people.
it moves CB in their thoughtrealm.
it moves technology.
it changes banks.
it makes people think about fiat systems.
it is the first step into decentralized trust and value networks.
enjoy...
Despite being one of the best technology so far, it is quite unrealistic and hard to attain this so called killing the central banks. I believe due to the fact that most government will not allow the decentralisation at all due to the fact that it's not taxable. Governments will not have any funds at all.
Unless governments recognize and label Bitcoin as a real-time currency, Bitcoin has little less hope of killing off central banks any time soon. Having said that, central banks across the globe are very keenly watching and understanding what Bitcoin is doing. As we all know that metal coins are expensive to manufacture and most of the time their face value is kind of cheaper than their manufacturing cost, we shouldn’t be surprised if central banks one day issues digital currencies under their name.
That is the exact reason why they should adopt it sooner rather than later. The earlier banks adapt and adopt some or the other form of Blockchain the more relevant they will remain. Bitcoin has established a lot of partnerships with FinTech firms I order to develop the applications of Blockchains in their capital markets. That could explain why big banks have been eagerly warming up to Bitcoin and other major cryptocurrencies which use Blockchain.
Well, what you have to know is that central banks cannot kill off Bitcoin, that’s not going to be easy, in fact it’s not possible for that to happen because when they break down the centralized wallets and exchanges that we all know, people then start to go for peer to peer and stop making use of centralized exchanges, and in a situation like this there would be no way for them to take down bitcoin. Then as for whether Bitcoin can kill off central banks? I doubt that too, it’s not going to happen, we are just going to have the both of them coexisting. That is the exact reason why they should adopt it sooner rather than later. The earlier banks adapt and adopt some or the other form of Blockchain the more relevant they will remain. Bitcoin has established a lot of partnerships with FinTech firms I order to develop the applications of Blockchains in their capital markets. That could explain why big banks have been eagerly warming up to Bitcoin and other major cryptocurrencies which use Blockchain.
Can central bank kill bitcoin? Probably yes, they can (and probably will) make it fully illigal. That would be a real tragedy
There will be only 1 answer and that is NO. The government will not allow Bitcoin to take over because they have no control over it. Bitcoin would never replace fiat. They could co-exist yes, but dethrone each other I don't think that will happen. Besides, we still need cash though because not all countries are not still ready to accept Crypto especially Bitcoin. Perhaps if the government will able to take control of the transaction on crypto (which is less likely to happen) then perhaps it can replace central banks. Moreover, for me, it is better for Bitcoin to stay this way.
Bitcoin can't kill banks as fiat currency will still be used since government likes to control the fiat. This is more like a centralized wallet or exchange which you don't have full control compared to decentralized wallet or exchange which you can export the private key which the bank is like a centralized wallet.
The answer is simple - no, bitcoin will not kill banks!
Why? Because governments will never allow an uncontrolled entity to replace a government-controlled, formal payment mechanism. The only thing that bitcoin, as a technology, can influence, is to push banks to use part of blockchain technologies in banking technologies.
I agree, I get that people can dream whatever scenario they may like but we need to be realistic here, the goal of bitcoin has never been to kill banks, the goal of bitcoin is just to offer a currency with a scarce supply that is permissionless, that is it, anything more than that is nothing but a dream.Why? Because governments will never allow an uncontrolled entity to replace a government-controlled, formal payment mechanism. The only thing that bitcoin, as a technology, can influence, is to push banks to use part of blockchain technologies in banking technologies.
Governments are never going to allow this to happen and banks instead of remaining static and accept defeat will just adapt to the new reality just as they have been doing for hundreds of years, so while a world without banks sounds like a good idea to some it is never going to happen.
Absolutely agree ! Fantasies and dreams are just fantasies and dreams that have nothing to do with reality. People cannot understand and accept in any way that there are axioms in the building of statehood. Each state has obligatory symbols of statehood - anthem, flag, constitution, CURRENCY, banking system.
Without the latter two, the state will be just someone's appendage. Or rather, an appendage of the state whose currency will be used and whose banking system will manage financial flows in the country. No, foreign banks can be in the country, this is normal, but the absence of a national bank and a "mint" is essentially an indicator of a colony.
I think central banks will live for a long time to come. Bitcoin will simply become part of the system. Already, Paypal has added cryptocurrency as a means of payment. Apple Pay and Google Pay also add cryptocurrency as a means of payment. It just stents another asset and will not displace central banks and fiat currencies.
This is the ideal thing to happen but in a way it deviates from the true purpose of bitcoin when it integrates with banks, if it integrates then what bitcoin aims to eliminate which is the middle man is going to become a part of it again. 
I think central banks will live for a long time to come. Bitcoin will simply become part of the system. Already, Paypal has added cryptocurrency as a means of payment. Apple Pay and Google Pay also add cryptocurrency as a means of payment. It just stents another asset and will not displace central banks and fiat currencies.
It is impossible for Bitcoin to kill the Central Banks and vice versa Central Banks may not kill Bitcoin. How could Bitcoin kill Central Banks if fiat is
still the official payment in all countries. After all, the government will do everything possible so that the system bank is not defeated by Bitcoin.
I don't think Bitcoin and Central Banks need to compete with each other, but why not complement each other. Not all regions can use Bitcoin as
a means of payment, because Bitcoin requires internet access and not all areas are covered by the internet. So fiat is still needed as a means of
payment, and Bitcoin can be used as an alternative payment.
still the official payment in all countries. After all, the government will do everything possible so that the system bank is not defeated by Bitcoin.
I don't think Bitcoin and Central Banks need to compete with each other, but why not complement each other. Not all regions can use Bitcoin as
a means of payment, because Bitcoin requires internet access and not all areas are covered by the internet. So fiat is still needed as a means of
payment, and Bitcoin can be used as an alternative payment.
I don't think so, not all people can adapt the digitalization and not all people are willing to risk their money knowing bitcoin market is too volatile. Cashless transaction is possible but not tru bitcoin being the primary currency and removing fiat by circulation so bitcoin cant kill banks.
As old generation diminishes, I am sure that digitalization is going to be easier since the younger generations are more inclined in terms of technology, and it is only a matter of time before we can achieve that digitalization and even the all powerful banks are going to go to this point if they don't want to get left behind. Jump to: