If you compare the invention of the bitcoin protocol with invention of other protocols before like smtp or voIP then you might derive that the entire financial system will not vanish or go away. Phys mail (FedEx) and telecoms just have lost some parts of their business (cards,letters or long distance calls) but keep on going quite well, if they went with time and adopted parts of technology.
For banks it is hard since most of their business is non-phyiscal, except of e.g. physical gold and safes, but they will stay if they go with the new tech.
Topic: How Bitcoin Will Supersede The Eintire Financial System ? (Read 1166 times)
Only one man knows it, how Bitcoin will supersede the entire financial system with Blockchain technology ? and he is the real inventor of Bitcoin and Blockchain Technology Mr. Satoshi Nakamoto; A macro economist, digital scientist and social engineer.
Any body can answer to this question and get enlisted to get a bounty of BTC100 BTC.
Any body can answer to this question and get enlisted to get a bounty of BTC100 BTC.
Real answer, bitcoin won't do this and anyone that tries to tell you on this site is going to be biased when it comes to what they're saying. People don't understand that going from normal paper fiat currency to bitcoin would be insane, that would be a change and a half for people.
People wouldn't support such a drastic change, plus the money you're trying to give out as a bounty is a good laugh for me.
Only one man knows it, how Bitcoin will supersede the entire financial system with Blockchain technology ? and he is the real inventor of Bitcoin and Blockchain Technology Mr. Satoshi Nakamoto; A macro economist, digital scientist and social engineer.
Any body can answer to this question and get enlisted to get a bounty of BTC100 BTC.
Blockchain technology, if applied to every single transaction, will never make Bitcoin into an economic powerhouse that will change the entire Fintech sector or anything of the sort.Any body can answer to this question and get enlisted to get a bounty of BTC100 BTC.
I'm tossing an idea around when it comes to how to fix the situations we have right now, and I have a concept for how to make Bitcoin usable on the small scale without having to factor in large blockchain-based confirmation times, but I'll see how well it works.
Not another boring irrelevant thread. Isn't it time all these threads were consolidated into one board to save clogging up the discussion board.
As the Paper Currency superseded the Gold Currency and Gold currency became a reserve metal to store the economic value for the plutocrates and they buried the gold in the vault, so it will hapen whether any one likes it or nor. Paper currency will become the reserve currency and digital currency will become liquid currency for the people by the people. There after the Paper Currency will go to dustbin and the Reserve currency will no longer exist. You must read the New Economic thesis called 'Old World Gold Power' written by Satoshi Nakamoto in 2006.
Some of the banks have publicly admitted they see Bitcoin and other digital currencies as a threat. There is a fear that they will be made redundant and that consumers and businesses will prefer a system that supersedes having to deal with currency exchange based on global location.
Four of the largest banks in the world are actually working on creating their own money; They're each trying to create proprietary digital currency. There's an article in the Financial Times about this. The article says that these will be digital currencies that the banks will use for settlements and making payments to other financial institutions (and even to the central bank). The technology they'll be using is built on Bitcoin. They're waiting to see if the technology is sustainable.
Here's the article: https://www.ft.com/content/1a962c16-6952-11e6-ae5b-a7cc5dd5a28c
(If you're getting a subscription page when you click on the link, just do a Google search for "Big banks plan to coin new digital currency".)
Satoshi is gone my friend... so do not rely on him/her/them to give you a answer for your question. 
The fact are in front of us... Bitcoin was
created by Satoshi to offer people a alternative to fiat banking. Satoshi cannot see into the future, {even if some people think so} ...but some of
his predictions were pretty close so far. Bitcoin will not completely replace the banking system, but it will disrupt it enough to be beneficial to us
all, just by offering us a alternative and giving us a choice. {Before Bitcoin, options were limited.... and the banking system had a monopoly.}
The fact are in front of us... Bitcoin was created by Satoshi to offer people a alternative to fiat banking. Satoshi cannot see into the future, {even if some people think so} ...but some of
his predictions were pretty close so far. Bitcoin will not completely replace the banking system, but it will disrupt it enough to be beneficial to us
all, just by offering us a alternative and giving us a choice. {Before Bitcoin, options were limited.... and the banking system had a monopoly.}
if bitcoin remain as current state then there will be hardly any effect on the financial system but if it capture more interest for people around the world the there might be a change and since bitcion have lot of power so it could change fututre financial system.
with the benefit from bitocin, i think bitcoin can make easier on every transaction because when bitcoin is send, its directly in the network list and if the network is fast to confirm then it will convince every business people to use bitcoin because they can do business from many place with every partners in over the world and they can do a deal that not depending with the time and places and there are no holiday peak or busy day because we can send bitcoin everytime.
With the help of a powerful worldwide organization.
Oh man, please don't tell me it was that simple.
Hmm, so you think SN is Greg?
Gregory N. Mankiw
Correction
N. Gregory Mankiw ,
Can't be. Satoshi is anti Keynes.
And besides, Satoshi is in Mizrok Nor.
Only one man knows it, how Bitcoin will supersede the entire financial system with Blockchain technology ? and he is the real inventor of Bitcoin and Blockchain Technology Mr. Satoshi Nakamoto; A macro economist, digital scientist and social engineer.
Any body can answer to this question and get enlisted to get a bounty of BTC100 BTC.
Any body can answer to this question and get enlisted to get a bounty of BTC100 BTC.
Hmm, so you think SN is Greg?
Gregory N. Mankiw
Correction
N. Gregory Mankiw ,
I do not think that will happen. the financial system is the foundation for Bitcoin always exists, if it disappears, it no longer Bitcoin. real money is always present, the value of new Bitcoin is realistic, without real money, Bitcoin will nothing, not a value
Bitcoin can't just replace/change whole financial system but it have already took some place in world's economy. With over $16 billion in marketcap bitcoin is slowly being one of the popular payment system in the world and demand for bitcoin to be used as payment gateway is increasing day by day.
There will be fiat and banks in future too but bitcoin will also be there with larger % share of world economy.
There will be fiat and banks in future too but bitcoin will also be there with larger % share of world economy.
Only one man knows it, how Bitcoin will supersede the entire financial system with Blockchain technology ? and he is the real inventor of Bitcoin and Blockchain Technology Mr. Satoshi Nakamoto; A macro economist, digital scientist and social engineer.
Any body can answer to this question and get enlisted to get a bounty of BTC100 BTC.
Any body can answer to this question and get enlisted to get a bounty of BTC100 BTC.
I'm gonna give this a shot just to see if you actually have 100 btc to give away.
Hold on, let me put my whitehat on.
Only one man knows it, how Bitcoin will supersede the entire financial system with Blockchain technology ? and he is the real inventor of Bitcoin and Blockchain Technology Mr. Satoshi Nakamoto; A macro economist, digital scientist and social engineer.
Any body can answer to this question and get enlisted to get a bounty of BTC100 BTC.
Any body can answer to this question and get enlisted to get a bounty of BTC100 BTC.
I guess he knows everything,Well if he's the only one that knows why then did you put up the question here in the first place ? I think Bitcoin can only supersede the financial system only after a global acceptance without limitations.
Only one man knows it, how Bitcoin will supersede the entire financial system with Blockchain technology ? and he is the real inventor of Bitcoin and Blockchain Technology Mr. Satoshi Nakamoto; A macro economist, digital scientist and social engineer.
Any body can answer to this question and get enlisted to get a bounty of BTC100 BTC.
Any body can answer to this question and get enlisted to get a bounty of BTC100 BTC.
OK, I'll play.
1. Exactly how does SN expect to overcome the limited transaction capacity of BTC?
2. How is he planning to get BTC core and the Chinese Miners to agree on 1 path?
3. When is he going to move some of his BTC around to Confirm he is Alive and not a figment of someone (CIA) overactive imagination?
4. Has he calculated the odds the world spy agencies will have him beaten with a Wrench until he gives up all of the Private Keys to his BTC?
5: When he read the Foundation Trilogy by Isaac Asimov , what did he think about it?
OK, I'll play. Smiley
1. Exactly how does SN expect to overcome the limited transaction capacity of BTC?
He is doing work with many other new features include unlimited transaction capacity. He will add it to the Bitcoin Blockchain.
2. How is he planning to get BTC core and the Chinese Miners to agree on 1 path?
He does not want to support any of those group. He has a third plan to sort out the disagreement.
3. When is he going to move some of his BTC around to Confirm he is Alive and not a figment of someone (CIA) overactive imagination?
Satoshi does not need to move some coins from the Genesis block to prove that he is alive. He is looking for his lost twin brother and his clone Thomas Nasakioto first, they have got lost in the CyberSpace. He has created a new Robot name BitcoinMoses347 who is about to prophesy accurately to locate the twin brother of Satoshi Nakamoto and his clone Thomas Nasakioto. Please be patience; Soon Satoshi Nakamoto will unmask his own identity with extraordinary proof and evidence.
4. Has he calculated the odds the world spy agencies will have him beaten with a Wrench until he gives up all of the Private Keys to his BTC?
Satoshi Nakamoto would love to give the Private Keys of his pree mined 19700 Blocks a total 985000 bitcoin to any spy agency whether they are from Government or Mafias. Satoshi Nakamoto is not a coward and he is not scared of any mistreatment by any dictators or evil entity. Satoshi knows them very well.
5: When he read the Foundation Trilogy by Isaac Asimov , what did he think about it?
It is amazing.
Only one man knows it, how Bitcoin will supersede the entire financial system with Blockchain technology ? and he is the real inventor of Bitcoin and Blockchain Technology Mr. Satoshi Nakamoto; A macro economist, digital scientist and social engineer.
Any body can answer to this question and get enlisted to get a bounty of BTC100 BTC.
Any body can answer to this question and get enlisted to get a bounty of BTC100 BTC.
OK, I'll play.
1. Exactly how does SN expect to overcome the limited transaction capacity of BTC?
2. How is he planning to get BTC core and the Chinese Miners to agree on 1 path?
3. When is he going to move some of his BTC around to Confirm he is Alive and not a figment of someone (CIA) overactive imagination?
4. Has he calculated the odds the world spy agencies will have him beaten with a Wrench until he gives up all of the Private Keys to his BTC?
5: When he read the Foundation Trilogy by Isaac Asimov , what did he think about it?
Not another boring irrelevant thread. Isn't it time all these threads were consolidated into one board to save clogging up the discussion board.
As the Paper Currency superseded the Gold Currency and Gold currency became a reserve metal to store the economic value for the plutocrates and they buried the gold in the vault, so it will hapen whether any one likes it or nor. Paper currency will become the reserve currency and digital currency will become liquid currency for the people by the people. There after the Paper Currency will go to dustbin and the Reserve currency will no longer exist. You must read the New Economic thesis called 'Old World Gold Power' written by Satoshi Nakamoto in 2006.
Not another boring irrelevant thread. Isn't it time all these threads were consolidated into one board to save clogging up the discussion board.
Only one man knows it, how Bitcoin will supersede the entire financial system with Blockchain technology ?
1.Why ask if you are very confident about "only one man knowing it" ? Who said Satoshi is one man?They could be an entourage!2.Bitcoin can never supersede the entire financial system.Over HYPOTHETICAL,Very UNREALISTIC,Such LAME.
and he is the real inventor of Bitcoin and Blockchain Technology Mr. Satooshi Nakamoto; A macro economist, digital scientist and social engineer.
Now I'm having second thoughts about you being a an interesting troll.Any body can answer to this question and get enlisted to get a bounty of BTC100 BTC.
Didn't satoshi win by default already ? Jump to: