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Author Topic: Can Bitcoin make Banks disappear?  (Read 427559 times)
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January 20, 2016, 04:17:41 PM
 #101

Bitcoin can make new banks stronger. If a bank integrates bitcoin in its payment system and provides bitcoin related service, this bank will be very popular.

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January 20, 2016, 05:41:36 PM
 #102

Bitcoin can make new banks stronger. If a bank integrates bitcoin in its payment system and provides bitcoin related service, this bank will be very popular.

Not now, not yet. An average person won't need or want to use bitcoin. They will see the volatility of the price and that not many services use bitcoin and they will think, hmm why would I use bitcoins? And they are right, there is not much benefit in using bitcoins right now unless you are trading or believe in satoshi nakamoto.

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January 20, 2016, 05:49:40 PM
 #103

I wish that banks was gone, but we need it. I don't really like that they can control what I have purchase of see it.
That is why I choose for bitcoin, but still is nice.

Bank won't never disappear they will just upgrade to do better or something else.
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January 20, 2016, 05:52:01 PM
 #104

Bitcoin can make new banks stronger. If a bank integrates bitcoin in its payment system and provides bitcoin related service, this bank will be very popular.

Not now, not yet. An average person won't need or want to use bitcoin. They will see the volatility of the price and that not many services use bitcoin and they will think, hmm why would I use bitcoins? And they are right, there is not much benefit in using bitcoins right now unless you are trading or believe in satoshi nakamoto.

Yeah that's correct people will always have more faith in the banking system rather then investing into bitcoins, as for average person bitcoin is totally a new technology and he would rather invest his money into banks as he is earning fixed returns in the form of interest, and he will have fear to loose his money by investing into bitcoins.
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January 21, 2016, 07:56:49 AM
 #105

banks are unlikely to disappear, but if bitcoin getting better, maybe the banks will adopt bitcoin.

It would be great if the banks adopt bitcoins. We all know that it will not happen soon because banks are still analyzing blockchain technology. Yes, banks cannot be disappearing immediately but it they adopt bitcoins both of them are in profit, as bitcoins are increasing at high rate then it is a win-win situations for both of them.
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January 21, 2016, 08:11:19 AM
 #106

banks are unlikely to disappear, but if bitcoin getting better, maybe the banks will adopt bitcoin.

It would be great if the banks adopt bitcoins. We all know that it will not happen soon because banks are still analyzing blockchain technology. Yes, banks cannot be disappearing immediately but it they adopt bitcoins both of them are in profit, as bitcoins are increasing at high rate then it is a win-win situations for both of them.

In future there are chances that banks may adopt bitcoins. Now too there are banks that use bitcoin for there shares in the market indirectly as it is decentralized. In coming days they will provide it in the direct method of business in the banking sectors which will be much beneficial for bitcoin users and can increase their revenue.
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January 21, 2016, 05:43:20 PM
 #107

Bitcoin has a long jouney ahead to became avaible and legal over the world,and we all know countries will ask a fee even being small they will ask otherwise no interest into adopting bitcoin to their countries.Banks may fail has happened in the past but there isnt any other organization that can today give you interest and lend money ,btcjam and others ,usually scam the most.
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January 23, 2016, 02:59:04 PM
 #108

The people would not leave banks with the establishing of bitcoins, as the bank do not only for saving or investment of public fiats. Nowadays the banks have a major role in state finance also. All the state finances are controlled and regulated in state banks.
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January 24, 2016, 08:09:25 AM
Last edit: January 24, 2016, 08:28:23 AM by Kevin77
 #109

The people would not leave banks with the establishing of bitcoins, as the bank do not only for saving or investment of public fiats. Nowadays the banks have a major role in state finance also. All the state finances are controlled and regulated in state banks.

Yes Banks cannot disappear just because of bitcoin, though bitcoin can become a competitor to the banks. But, I don’t think all the challenges can make banks disappear. Even if other payment process disappears, banks cannot disappear, but banks may decide to adopt bitcoin.
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January 24, 2016, 08:14:35 AM
 #110

The people would not leave banks with the establishing of bitcoins, as the bank do not only for saving or investment of public fiats. Nowadays the banks have a major role in state finance also. All the state finances are controlled and regulated in state banks.

Yes Banks cannot disappear just because of bitcoin, though bitcoin is can become a competitor to the banks. But, I don’t think all the challenges can make banks disappear. Even if other payment process disappears, banks cannot disappear, but banks may decide to adopt bitcoin.
There needs to be an amount of things before banks go away. Not just because of Bitcoin.

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January 24, 2016, 08:17:26 AM
 #111

they already have disappeared now they are just shell companies

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January 24, 2016, 10:00:14 AM
 #112

They will never disappear. But bitcoin is a real challenger for them. No wonder that it's no very loved by bankers. But, there is a saying, there is space for everyone in the world.

1 BTC = 1 BTC
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January 24, 2016, 10:50:29 AM
 #113

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?


no i dont think banks will dissapear because bitcoin,maybe they just more interesting to bitcoin technology,and some year later bitcoin bank will come,but local bank will not dissapear.

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January 24, 2016, 11:19:43 AM
 #114

No, I don't think so.
Banks and bitcoin have completely different roles, in my opinion.
We will always need banks in order to receive loan, salary, invest in market etc.
People will use bitcoin because of anonymity, desire to achieve financial freedom and get rid from banks and governments, taxes etc.



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January 24, 2016, 11:40:02 AM
 #115

Well i think there is the possibility of bitcoin getting the most used currency and therefore most of
the now-used banks could get kind of "unused".

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January 24, 2016, 02:58:24 PM
 #116

Bitcoin itself is a bank, so: NO.
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January 24, 2016, 03:02:39 PM
 #117

No Bitcoin can't and that was not the goal of bitcoin too. Bitcoin is meant to be a decentralized payment network. And that's it.
Banks are banks and they are needed too.
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January 24, 2016, 03:08:27 PM
 #118

No Bitcoin can't and that was not the goal of bitcoin too. Bitcoin is meant to be a decentralized payment network. And that's it.
Banks are banks and they are needed too.

Banks may survive, but the need of banks will get diminished gradually. Because, bitcoin will do more than half of the banks facilities. I believe bitcoin will challenge banks in all possible means.
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January 25, 2016, 08:15:11 PM
 #119

Bitcoin has potencial and banks are already at their full potencial,if in the future bitcoin becomes some kind of regulated and some kind of bank pay you interest for your bitcoins ,and allow you to get loans cheaper then real banks that are charging a lot,well i believe banks may start loose costumers,but those loans and those banks should be the current ones or banks from governements.
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January 26, 2016, 02:25:44 AM
 #120

No Bitcoin can't and that was not the goal of bitcoin too. Bitcoin is meant to be a decentralized payment network. And that's it.
Banks are banks and they are needed too.


If bitcoin replaces bank place in future means somehow it helpful for simple wage people to get avoid from the bank interest and finance problems. Government also make their transactions so transparent. It would be easy to identify the right party.  Bitcoin should replace bank's place in future.
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