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Topic: Can Bitcoin make Banks disappear? (Read 427679 times)

swaptaker

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Re: Can Bitcoin make Banks disappear?

November 28, 2017, 07:49:32 PM

#5841

Quote from: The Monkey King on November 28, 2017, 05:43:54 AM

Quote from: Frank0209 on October 11, 2017, 10:38:41 PM

Quote from: Ngewex Yuk on October 11, 2017, 10:27:52 PM

If bitcoin transactions continue to increase and larger than the bank then it will be a threat to the bank and could make the bank disappear. but for the near future it seems difficult to achieve, it took at least 10 years to make the bank disappear.

Yeah, maybe it'll happen soon. Cause the number of country that legalize Bitcoin is increasing and when a government legalize Bitcoin in their country that mean there will be a lot of troubles that Banks will have to front cause it's really hard for any Bank to make a decision that accept Bitcoin in their Bank or not cause if they accept it they will have to have enough ability to control it but as I know to totally control is not easy that why Bitcoin is not legalized worldwide. Beside, IMO Bitcoin owner will not send their Bitcoin to bank cause there are a lot of ways for them to keep their Bitcoin safe without banking and they also prefer use their Bitcoin to invest in trading or something else like that to send it to bank to receive monthly interest.

We can't tell. Of course as we can see nowadays we are living a world where banks are accepted. Sooner maybe bitcoin can make some increase in banks. However people are much more dependent on the banks because we think that it is safer to invest them and ut is acceptable in our economy.

We can tell that banks never be diminished because of bitcoin. Because the owners and share holders of those huge banks are the people ruling the world and they never let something weird happen.

Sanitough

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Re: Can Bitcoin make Banks disappear?

November 29, 2017, 04:28:09 AM

#5842

Quote from: cabitu on November 28, 2017, 07:48:44 PM

I think the bank will never disappear. They will add more and more pleasure to satisfy as much as possible the interests of people and themselves as it may happen. So can change the name in the future or the other, but still its function - make money for the wishes of others

The population is growing and we want different options so bank will stay, they are the most powerful in the finance industry
so why would we think they will be replace with bitcoin. That is not gonna happen even with the performance of bitcoin now because the users of the
banking industry are so big as they trust the centralization.

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Habakkuk77

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Re: Can Bitcoin make Banks disappear?

November 29, 2017, 04:51:38 AM

#5843

There would a possibility that bitcoin can make banks disappear if banks will also use bitcoin as a digital currency.
As long as there are many users of fiat currency banks will remain.

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ABIR HASAN

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Re: Can Bitcoin make Banks disappear?

November 29, 2017, 05:03:17 AM

#5844

Banks will not dissappear. We will still need banks as not everyone will use Bitcoin. We are already seeing banks for Bitcoin.who will cause the demise and re-structuring of banking. Bitcoin will just be one of the emerging solutions/replacements.

Synaesthesia

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Re: Can Bitcoin make Banks disappear?

November 29, 2017, 05:14:20 AM

#5845

Bitcoin can't make Banks dissapear. They are different. Banks have many roles in the economy. Bitcoin can solve all problems.

tiger2monkey

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Re: Can Bitcoin make Banks disappear?

November 29, 2017, 05:32:57 AM

#5846

Bitcoin can not replace banks and make banks disappear. Banks have many roles that bitcoin can not take their place, such as lending. Hope bitcoin can bring some challenge and opportunities to bank for innovation and improvement.

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Oliver A

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Re: Can Bitcoin make Banks disappear?

November 29, 2017, 05:43:15 AM

#5847

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

care2yak

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Re: Can Bitcoin make Banks disappear?

November 29, 2017, 05:44:41 AM

#5848

I can't seem to find my previous reply in this thread but just to update or modify, bitcoin can't make banks disappear. What bitcoin can do is change the way bankers see bitcoin and prepare for adoption. Here in my country, one local commercial bank has already expressed on national television that it is gearing up for digital banking and is embracing cryptocurrency into their fold. So it won't be long until other banks follow suit.

humanCNC

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Re: Can Bitcoin make Banks disappear?

November 29, 2017, 05:45:35 AM

#5849

Bitcoins have many benefits and more and more people use it. It's price is also high. Many people think bitcoin will make the bank disappear, but I do not think so. Many governments have known the benefits of bitcoin to users but all it's transactions are due to the internet and the government can not control the bitcoin so the government can not apply the bitcoin tax. Not so, bitcoin affects the interests of banks. So, many governments have banned bitcoin.

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Psyloc9302003

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Re: Can Bitcoin make Banks disappear?

November 29, 2017, 05:48:13 AM

#5850

bank will not disappear because of btc..for as long as the real money exist the bank will always be there..but that doesn't mean that bank and btc may not coexist..btc may give way to faster processing of transferring money from one location to another especially from one country to another..

Glorypaasa

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Re: Can Bitcoin make Banks disappear?

November 29, 2017, 05:51:23 AM

#5851

Quote from: BTCBinary on January 12, 2016, 02:40:58 AM

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?

Maybe? Because bitcoin is better than bank if we talk about money transactions but i dont think if bitcoin will replace banks because some goverments trying to banned this bitcoin because they have a fear that bitcoin can replace banks in the future.

PolinaVodovatova

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Re: Can Bitcoin make Banks disappear?

November 29, 2017, 09:40:21 PM

#5852

I found an interesting project recently but Im in doubt. Mytimecoin, its like casback by coins for watching or using information from partners of it. Have anyone heard about it?

FlTZ

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Re: Can Bitcoin make Banks disappear?

November 30, 2017, 09:35:36 AM

#5853

Bitcoin can never make banks disappear because of more than many reasons. Bitcoin is not designed for this so banks were afraid at some point from it but when they realized that Bitcoin has its limited circle of use they went back. Bitcoin will survive as online payment processor and mean of payment but it is not threatening banks at all.

kakoli akter jhumu

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Re: Can Bitcoin make Banks disappear?

November 30, 2017, 10:43:30 AM

#5854

This is the biggest fear of bank that it fears of bitcoin thinking that it will disappear.....but it will disappear surely when the customer's of bank will get irritated by their excessive fees rate!!

Chooroz

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Re: Can Bitcoin make Banks disappear?

November 30, 2017, 01:42:38 PM

#5855

Quote from: Snub on November 26, 2017, 02:09:45 PM

Banks will exist till fiat exists,and if someday we could pay for everything with BTC that will be the end of banks

The existence of bank is became the people's biggest investment. Its foundation is stronger and supported by many people including the officials in one country; and I don't think Bitcoin has this power to make Banks disappear.

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DRAWDE_3691

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Re: Can Bitcoin make Banks disappear?

November 30, 2017, 01:49:35 PM

#5856

Quote from: BTCBinary on January 12, 2016, 02:40:58 AM

It never comes to me that BTC can replace banks, it is impossible to make it disappear. There are still many bank's features/ can do that bitcoin can't. May these also make sense that only little of us know about crypto vs who doesn't.

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ankylotic

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Re: Can Bitcoin make Banks disappear?

November 30, 2017, 07:54:05 PM

#5857

Quote from: LoveIyDove on November 28, 2017, 04:58:32 PM

Bitcoin is more safe now than ever before. Now, the problem isn w on the user, about how he/she utilizes it. If someone hackers your wallet,it's your fault, you should have supplied much more safety and extreme caution when using it. Bitcoin will always be risky because it is decentralized and table.o uns

I think both are different and both have nothing to do with each other. Bank are the severe need of the people to save fiat and i don't think there is any chances of bank to disappear until there is fiat. A decentralized btc is not something banks are going to even attempt to work with and it would be worse for both not better. As long as it becomes even more widely accepted banks are not needed but they have nothing to fear from btc and they will never disappear unless forced to or fiat ends in the world.

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Re: Can Bitcoin make Banks disappear?

November 30, 2017, 07:56:52 PM

#5858

I think not, banks are not only keeping people's money but it act as a funding for any civil project, finance loans and other services. Banks can adapt Bitcoin and Crypto-Currencies but even the world money will be replaced by Crypto-Currencies but still Banks exist the they're using Crypto-Currencies to fund loans and other services.

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mininghubby

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Re: Can Bitcoin make Banks disappear?

November 30, 2017, 08:47:28 PM

#5859

Quote from: superloy on November 30, 2017, 07:56:52 PM

i don,t think so that this is going to happen. because both are different from each other .banks are providing facility to save fiat .while on other side btc is a digital currency .I think that the most people just need the normal banks. Some people does,nt even know that Bitcoins exist.in this world.and in the future we can say that it would be happen with new projects like banks launches by bitcoin.for disappearing banks.

Galahad111

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Re: Can Bitcoin make Banks disappear?

November 30, 2017, 09:09:15 PM

#5860

Quote from: superloy on November 30, 2017, 07:56:52 PM

I have to say no Bitcoin can not make the banks disappear never. There is a logical explanation behind this because banks are not like super markets or shops which appears and disappears or replaced by other. Actually they are providing base to all the financial structure of complex system from issues of salaries to utility bills, from loan to investment and much more than this. They both will exist and work together in future with more collaboration.

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