Bitcoin is closing banks already

[TKeenan]

Here is just the latest effect Bitcoin is having on banks... http://money.cnn.com/2015/07/15/investing/bank-of-america-branches-layoffs/index.html?iid=EL  Lets keep up the good work.

[notlist3d]

I don't think we can take credit on this happening.  I think it is much more complex reasons.

And don't think BTC closed a big bank.   I just don't see it.

[minernoob1]

This bank is steady firing many people long before BTC was even came out yet.

[Chef Ramsay]

Gotta keep sacrificing the little people at the bank to make more room for bonuses for the mid and upper level executives.

[Gleb Gamow]

Gotta keep sacrificing the little people at the bank to make more room for bonuses for the mid and upper level executives.

Better yet, fire a $50K/yr employee putting their salary in a savings account so that the bank can now legally loan out $500K USD. Repeat and rinse that hundreds-folds.

[Kasawari]

I don't think bitcoin can make a huge impact to the banking industry to the extent that bitcoin will be one of the reason why a bank will close down. More people still like the idea of traditional banking and there's more benefits in using their services.

[ticoti]

Bitcoin is not closing banks and it won't be closing them in a really long term...
it may change the way they move the money, but that would be the blockchain

[jwcastle]

LOL -  With that kind of logic, you can say that McDonald's french fries are causing Bank of America to close some of its branches.

[Amph]

it has to do more with the debts problem than bitcoin, well it's indirectly helping bitcoin, but it's not a givin that people will choose bitcoin, over let's say gold or something more stable

[Kprawn]

It's not due to Bitcoin though..   Some of the banks are moving away from the HR intensive model, where there are physical bank branches in every Mall. Things are moving to a virtual online banking environment,

where people do all their banking online. Loan applications are automated and approved online and transactions are done through internet banking.

The only need for a physical bank, is the dependancy on Fiat. Most banks are also investigating into developing their own ripoff blockchain technology, and this will replace the need for the Bitcoin Blockchain.

Our advantage = existing massive hashing power backing the Bitcoin Blockchain and a established user base and merchant network.  

[Mickeyb]

I wouldn't connect this directly with Bitcoin. Financial markets and banks are in the deep problems since the 2008. Look at Europe and Greece for example. So banks are in the deep just like the whole financial sytem, now let's help them toward destruction! 

[Hopalong]

Here is just the latest effect Bitcoin is having on banks... http://money.cnn.com/2015/07/15/investing/bank-of-america-branches-layoffs/index.html?iid=EL  Lets keep up the good work.

What kind of drug are you on? Bitcoin has not had an effect on anything yet. Not a single tiny little change is caused by bitcoin.

[Hopalong]

I wouldn't connect this directly with Bitcoin. Financial markets and banks are in the deep problems since the 2008. Look at Europe and Greece for example. So banks are in the deep just like the whole financial sytem, now let's help them toward destruction! 

Some parts of Europe was a economic disaster a long time ago and still are. Most of Europe is doing very well just as US.

[Mickeyb]

I wouldn't connect this directly with Bitcoin. Financial markets and banks are in the deep problems since the 2008. Look at Europe and Greece for example. So banks are in the deep just like the whole financial sytem, now let's help them toward destruction! 

Some parts of Europe was a economic disaster a long time ago and still are. Most of Europe is doing very well just as US.

Well if you can say that somebody is doing well while their debt is constantly going up than OK. Also after the 2008 crisis that was just poorly fixed and hiden!

Personally I don't think anything is going fine and very soon a new, big boom is imminent. Hope I am wrong but it doesn't feel that way.

[notlist3d]

I wouldn't connect this directly with Bitcoin. Financial markets and banks are in the deep problems since the 2008. Look at Europe and Greece for example. So banks are in the deep just like the whole financial sytem, now let's help them toward destruction! 

Some parts of Europe was a economic disaster a long time ago and still are. Most of Europe is doing very well just as US.

The US does not have countries linked like Greece.  The whole eurozone is linked especially on a monetary level.

US does not really have a partner that we have that eurozone like relationship.  Sure we have allies, and trade partners but i think it's a different level.

[Hopalong]

I wouldn't connect this directly with Bitcoin. Financial markets and banks are in the deep problems since the 2008. Look at Europe and Greece for example. So banks are in the deep just like the whole financial sytem, now let's help them toward destruction! 

Some parts of Europe was a economic disaster a long time ago and still are. Most of Europe is doing very well just as US.

Well if you can say that somebody is doing well while their debt is constantly going up than OK. Also after the 2008 crisis that was just poorly fixed and hiden!

Personally I don't think anything is going fine and very soon a new, big boom is imminent. Hope I am wrong but it doesn't feel that way.

The economic crisis hit US first later Europe. US is now fully recovering and Europe will follow. The main problem now is the fall in Gold and oil prices that will continue for a long time. Land with a real export of good will do good.

[notlist3d]

I wouldn't connect this directly with Bitcoin. Financial markets and banks are in the deep problems since the 2008. Look at Europe and Greece for example. So banks are in the deep just like the whole financial sytem, now let's help them toward destruction! 

Some parts of Europe was a economic disaster a long time ago and still are. Most of Europe is doing very well just as US.

Well if you can say that somebody is doing well while their debt is constantly going up than OK. Also after the 2008 crisis that was just poorly fixed and hiden!

Personally I don't think anything is going fine and very soon a new, big boom is imminent. Hope I am wrong but it doesn't feel that way.

The economic crisis hit US first later Europe. US is now fully recovering and Europe will follow. The main problem now is the fall in Gold and oil prices that will continue for a long time. Land with a real export of good will do good.

I think Greece will need some help if you want full recovery.  I don't see them being saved unless some of the eurozone do a bailout.

I could be wrong on it though.  I don't see the other countries letting Greece fail though.

[Mickeyb]

I wouldn't connect this directly with Bitcoin. Financial markets and banks are in the deep problems since the 2008. Look at Europe and Greece for example. So banks are in the deep just like the whole financial sytem, now let's help them toward destruction! 

Some parts of Europe was a economic disaster a long time ago and still are. Most of Europe is doing very well just as US.

Well if you can say that somebody is doing well while their debt is constantly going up than OK. Also after the 2008 crisis that was just poorly fixed and hiden!

Personally I don't think anything is going fine and very soon a new, big boom is imminent. Hope I am wrong but it doesn't feel that way.

The economic crisis hit US first later Europe. US is now fully recovering and Europe will follow. The main problem now is the fall in Gold and oil prices that will continue for a long time. Land with a real export of good will do good.

Fully recovering with the $18 trillion of debt!! Yeah right! I am not talking about stock prices, house market and interest rates. I am talking about the big picture. Next bang, when it comes, will br disastrous!

[Hopalong]

I wouldn't connect this directly with Bitcoin. Financial markets and banks are in the deep problems since the 2008. Look at Europe and Greece for example. So banks are in the deep just like the whole financial sytem, now let's help them toward destruction! 

Some parts of Europe was a economic disaster a long time ago and still are. Most of Europe is doing very well just as US.

Well if you can say that somebody is doing well while their debt is constantly going up than OK. Also after the 2008 crisis that was just poorly fixed and hiden!

Personally I don't think anything is going fine and very soon a new, big boom is imminent. Hope I am wrong but it doesn't feel that way.

The economic crisis hit US first later Europe. US is now fully recovering and Europe will follow. The main problem now is the fall in Gold and oil prices that will continue for a long time. Land with a real export of good will do good.

I think Greece will need some help if you want full recovery.  I don't see them being saved unless some of the eurozone do a bailout.

I could be wrong on it though.  I don't see the other countries letting Greece fail though.

Greece economy is a mouse piss in the ocean compared to the rest of EU economy.

[Amph]

I wouldn't connect this directly with Bitcoin. Financial markets and banks are in the deep problems since the 2008. Look at Europe and Greece for example. So banks are in the deep just like the whole financial sytem, now let's help them toward destruction! 

Some parts of Europe was a economic disaster a long time ago and still are. Most of Europe is doing very well just as US.

Well if you can say that somebody is doing well while their debt is constantly going up than OK. Also after the 2008 crisis that was just poorly fixed and hiden!

Personally I don't think anything is going fine and very soon a new, big boom is imminent. Hope I am wrong but it doesn't feel that way.

The economic crisis hit US first later Europe. US is now fully recovering and Europe will follow. The main problem now is the fall in Gold and oil prices that will continue for a long time. Land with a real export of good will do good.

I think Greece will need some help if you want full recovery.  I don't see them being saved unless some of the eurozone do a bailout.

I could be wrong on it though.  I don't see the other countries letting Greece fail though.

Greece economy is a mouse piss in the ocean compared to the rest of EU economy.

greece debt is even less than any other countries in the europe zone at least based on this clock http://www.eudebtclock.org/

even if take into account that they are less in numbers, they still have no way near the debt of france or italy