tonycamp
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Activity: 84
Merit: 10
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August 30, 2015, 01:24:03 PM |
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well bitcoin never repalces a bank in at least this 10 years it could require a BT to 3000$ and like 3 billion users and lots of BT to be made its can get very bad for btc after this 12.5 per Block halfs
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The block chain is the main innovation of Bitcoin. It is the
first distributed timestamping system.
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roadbits
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Activity: 1092
Merit: 1000
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August 31, 2015, 07:56:20 AM |
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If everyone started using Bitcoin and removed banks out the factor would be a very moment for banks to close down and BTC to rule and dominate the world for transactions.
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RealBitcoin
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August 31, 2015, 08:29:16 AM |
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If everyone started using Bitcoin and removed banks out the factor would be a very moment for banks to close down and BTC to rule and dominate the world for transactions.
Thats why bitcoins growth can be gradual so that banks can integrate themselves. We dont need to abolish banks, but to steer them in the right directions. I doubt that the oligarchs ruling the banks care about it, they just care about money, and if we allow them time to reposition their investments in bitcoin then they will have no reason to shut it down, but it will just let them invest in it so nobody loses money. |
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Hazir
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Activity: 1596
Merit: 1005
★Nitrogensports.eu★
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August 31, 2015, 11:16:43 AM |
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-snip-
This effectively eliminates the possibility of Fractional Reserve Banking. Who in their right mind is going to give their bitcoins to a bank that turns our around and lends them to other people and makes bets in the stock market with them? Nobody.
What you think?
Do you honestly think that after hundreds of year of 'banking' people suddenly will stop using their services? It is not about that we don't know that our money are used to grow wealth of the banks. Most people just don't care and accept it as a normal state. I am sure in the future when any form of crypto/virtual currency will take the lead there will be digital banks (even though it is totally not needed). Virtual banking will be our reality just because banksters and corporation will make it look trendy and needed so people would follow. |
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RealBitcoin
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August 31, 2015, 12:43:11 PM |
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I am sure in the future when any form of crypto/virtual currency will take the lead there will be digital banks (even though it is totally not needed).
Virtual banking will be our reality just because banksters and corporation will make it look trendy and needed so people would follow.
Sure, i`m very happy with that, that will be the most civilized, and probably the most likely outcome. The other one would be to totally ban bitcoin, and setup a spygrid tracking everyone who uses bitcoin and putting them into cages. I`m sure the first one is the future we all want. We want a civilized humanitarian society. |
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HarHarHar9965
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August 31, 2015, 12:55:44 PM |
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I am sure in the future when any form of crypto/virtual currency will take the lead there will be digital banks (even though it is totally not needed).
Virtual banking will be our reality just because banksters and corporation will make it look trendy and needed so people would follow.
The other one would be to totally ban bitcoin, and setup a spygrid tracking everyone who uses bitcoin and putting them into cages. Assuming that such a situation could only takes place when mass adoption is taking place regarding bitcoin and banks can definitely feel the heat, publicly determined to eliminate such a service labeling it a scam and hence determined illegal. Idk how the govt can have the power to track every bitcoin user, I thought the btc technology promotes anonymity and protects users. Oh, and once such a mass adoption would be taking place, let's assume around 10 times than the population of users now, good luck trying to arrest 5-30 million people, maybe more. |
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RealBitcoin
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August 31, 2015, 01:45:50 PM |
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I am sure in the future when any form of crypto/virtual currency will take the lead there will be digital banks (even though it is totally not needed).
Virtual banking will be our reality just because banksters and corporation will make it look trendy and needed so people would follow.
The other one would be to totally ban bitcoin, and setup a spygrid tracking everyone who uses bitcoin and putting them into cages. Assuming that such a situation could only takes place when mass adoption is taking place regarding bitcoin and banks can definitely feel the heat, publicly determined to eliminate such a service labeling it a scam and hence determined illegal. Idk how the govt can have the power to track every bitcoin user, I thought the btc technology promotes anonymity and protects users. Oh, and once such a mass adoption would be taking place, let's assume around 10 times than the population of users now, good luck trying to arrest 5-30 million people, maybe more. They dont have to arrest 30 million people, its enough to arrest 100-200 of them to make an example and every other person will just obey. Thats what always happens in any crime, if you were to arrest every person on the planet that has comitted a crime, no matter how small then the planet would instantly turn into a prison planet. Funny though we already live in a prison planet, so i think justice has already been served...  == But joke aside, that is how population is controlled, you make an example of 1-2 people, then the 1 million other sheeple will be too scared and it will obey. |
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techgeek
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August 31, 2015, 11:03:39 PM |
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You do notice that the banks make their own rules, buy politicians to not be obsolete.
And always stay ahead and being in profit, despite their federal reserve itself is a bank as well lol.
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cellard
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Activity: 1372
Merit: 1250
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September 01, 2015, 12:38:32 AM |
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The banks will keep thinking for their slice of the pie, make no mistake. But I think there is a place for banks in the future, and when I mean banks i mean companies like Xapo which basically are Bitcoin banks.
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ashour
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September 01, 2015, 09:54:48 PM |
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Bitcoin is still years behind making banks absolute. Go to your local grocery store and try to pay with bitcoin, they simply don't know what bitcoin is and reject it. Bitcoin is still to new and unknown in order to make banks obsolete.
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MasterYii
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September 02, 2015, 01:50:11 AM |
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as long as their is the fiat form..
i dont think any bank will ever dissappear, since they profit us using their currency they keep pumping out..
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HarHarHar9965
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September 02, 2015, 04:57:20 AM |
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I am sure in the future when any form of crypto/virtual currency will take the lead there will be digital banks (even though it is totally not needed).
Virtual banking will be our reality just because banksters and corporation will make it look trendy and needed so people would follow.
The other one would be to totally ban bitcoin, and setup a spygrid tracking everyone who uses bitcoin and putting them into cages. Assuming that such a situation could only takes place when mass adoption is taking place regarding bitcoin and banks can definitely feel the heat, publicly determined to eliminate such a service labeling it a scam and hence determined illegal. Idk how the govt can have the power to track every bitcoin user, I thought the btc technology promotes anonymity and protects users. Oh, and once such a mass adoption would be taking place, let's assume around 10 times than the population of users now, good luck trying to arrest 5-30 million people, maybe more. They dont have to arrest 30 million people, its enough to arrest 100-200 of them to make an example and every other person will just obey. Thats what always happens in any crime, if you were to arrest every person on the planet that has comitted a crime, no matter how small then the planet would instantly turn into a prison planet. Funny though we already live in a prison planet, so i think justice has already been served... == But joke aside, that is how population is controlled, you make an example of 1-2 people, then the 1 million other sheeple will be too scared and it will obey. When bitcoin first came out, it was advertised how people will take charge and stand up for themselves, creating an economic evolution and becoming their own banks. Now, you're back to the same mentality you were conditioned for. You are talking that if we stand up to something which is right, we will be arrested. The government doesn't run the country, the people run the country. Talking about India, if 125 million people want something, that would be democracy speaking. The 60 something appointed people won't be defined as the govt |
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Q7
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September 03, 2015, 01:10:13 PM |
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I don't think we'll ever need them at all unless they can take the deposit to find some ways to generate profit and give us back something in return. Banks need a way to manipulate the orderbook and since they can't change the blockchain, i don't think bitcoin will be if any interest to them.
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coinpr0n
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September 03, 2015, 04:26:41 PM |
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I don't think we'll ever need them at all unless they can take the deposit to find some ways to generate profit and give us back something in return. Banks need a way to manipulate the orderbook and since they can't change the blockchain, i don't think bitcoin will be if any interest to them.
Almost everything a bank does has to do with accounting. Keeping accounting the same across many branches using the blockchain is exactly what they need. |
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HarHarHar9965
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September 03, 2015, 04:36:14 PM |
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I don't think we'll ever need them at all unless they can take the deposit to find some ways to generate profit and give us back something in return. Banks need a way to manipulate the orderbook and since they can't change the blockchain, i don't think bitcoin will be if any interest to them.
Almost everything a bank does has to do with accounting. Keeping accounting the same across many branches using the blockchain is exactly what they need. yes, they need the block chain technology, not bitcoin. So if noobs think that banks will invest in bitcoin and soon price of btc will be 1000000000$ then boo hoo, that isn't happening. Bitcoin can and shall never be centralized, something which banks will do the day they can actually do it. And if people still expect a bitcoin bank where they'd get funds back to keep their btc there, lol. never happening. Rather go to btc lend for that  |
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qiwoman2
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Activity: 2114
Merit: 1023
Oikos.cash | Decentralized Finance on Tron
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September 04, 2015, 08:33:05 AM |
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The only thing Banks are still useful for is safety deposit boxes and loans. If people stop wanting to borrow and start living within their means and saving then yes banks could be pretty obsolete and almost useless but as long as people want to live beyond their means then yes as banks lend money and governments keep printing it, they will still be around to haunt us.  |
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n2004al
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Activity: 1134
Merit: 1000
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September 04, 2015, 08:51:05 AM |
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I believe that bitcoin will risk the banks with the use of money. Because a debit card can be used with bitcoin in the same way like will fiat money. Always if the owner who release the debit card will not use high fees (hard to believe this). But I don't understand when it will be found the money for various credits which today can be taken only from the banks. Will be bank with bitcoin? But how I will use that bitcoin when they are not physic form? And it will not be the same with the fiat money because the credits will have the same fees to pay?
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TibanneCat
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Activity: 210
Merit: 100
BTC > etc
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September 05, 2015, 09:42:06 PM |
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But how I will use that bitcoin when they are not physic form? And it will not be the same with the fiat money because the credits will have the same fees to pay?
There are already a few bitcoin debit cards available which you can use at anywhere that takes Visa https://in.xapo.com/campaign/debit/https://cryptopay.me/bitcoin-debit-cardBut since these run on Visa network, similar fees do apply I think a new bitcoin card specific network would have to be created in order to get lower fees |
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Stargazer
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Activity: 641
Merit: 253
▰▰▰ Global Cryptocurrency Paymen
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September 05, 2015, 09:45:16 PM |
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The only thing Banks are still useful for is safety deposit boxes and loans. If people stop wanting to borrow and start living within their means and saving then yes banks could be pretty obsolete and almost useless but as long as people want to live beyond their means then yes as banks lend money and governments keep printing it, they will still be around to haunt us. You could as well say "there's no need for war if only people learn to live in peace..." People will always need loans and they will always need institutions that provide them, be it banks or Bitcoin companies made by whales that will serve the same purpose in case of a global Bitcoin adoption. |
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Quinn
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September 06, 2015, 02:14:22 AM |
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I think that people would not care about FRB in the case of bitcoins as well. They'll continue to act in a way they are accustomed to i.e. trusting a bank as a safe place for their assets regardless of the fact what does the bank do with their money which is definitely unfortunate. If they don't care for FRB right now, why would they care in case of bitcoins then?
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