20kevin20
Legendary
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Activity: 1134
Merit: 1597
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May 07, 2016, 08:05:23 AM |
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I don't think banks will disappear, at least not yet. It's all online, so poorer people and the old generations (our grandparents/parents) might have not heard of it yet. Having their money stored online for them is something they won't accept because they are used to having their money stored in "safer banks" or just in their real wallet. Just my opinion.
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"The nature of Bitcoin is such that once version 0.1 was released, the
core design was set in stone for the rest of its lifetime." -- Satoshi
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stromma44
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May 07, 2016, 08:14:22 AM |
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Bitcoin is an option to avoid fees and the control that banks has at people money,bitcoin havent borned to kill the current financial system,but as an option and allowing anyone to have plenty control of their money.
That's true and I think people will use both as they need both of them, for online transfer they will use bitcoin and for saving their money bank is the best place. |
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dhimasnk
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May 07, 2016, 09:03:44 AM |
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I do not think it possible. banks are still too strong and not easily bitcoin to make bank dissappea
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mark coins
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May 07, 2016, 09:35:14 AM |
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I do not think it possible. banks are still too strong and not easily bitcoin to make bank dissappea
Banks are the most strong financial institutions that we have today and bitcoin will need a strong reason to replace it which seems to be impossible. |
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Ryananda
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May 07, 2016, 09:39:33 AM |
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I do not think it possible. banks are still too strong and not easily bitcoin to make bank dissappea
Yes true I also think like that. Bitcoin can not make banks disappear because it was impossible. Banks and bitcoin is also very different and they can not affect each other. |
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_Miracle
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May 07, 2016, 09:50:18 PM |
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Bitcoin or something like it will change banking. BUT banks will be around for a long time (at least the ones who adapt ;-).
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There 'used' to be more truth in forums than anywhere else. Twitter: @cryptobitchicks Spock: "I am expressing multiple attitudes simultaneously. To which are you referring?" INTJ-A
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angaper
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May 07, 2016, 09:57:27 PM |
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I have no doubt that banks need to change their way of doing business, but I don't think the current bitcoin model has the potential enough to displace the banks, at least in the next years. Of course I think the blockchain is revolutionizing many things in financial world, but it will take much time to be totally implemented.
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bitlancr
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May 07, 2016, 11:03:53 PM |
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Bitcoin or something like it will change banking. BUT banks will be around for a long time (at least the ones who adapt ;-).
Maybe there will change something but I think there will not change a lot to be honest because banks are way powerful and I think the bitcoin can not really do a lot at banks, the banks will soon or later even win and not disappear. |
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JumperX
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May 07, 2016, 11:07:47 PM |
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Bitcoin or something like it will change banking. BUT banks will be around for a long time (at least the ones who adapt ;-).
Maybe there will change something but I think there will not change a lot to be honest because banks are way powerful and I think the bitcoin can not really do a lot at banks, the banks will soon or later even win and not disappear. Banks will always win, they have support from the Government and the society, people trusts banks blindly but they don't share same feelings for bitcoin. |
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doc12
Legendary
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Activity: 1284
Merit: 1042
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May 07, 2016, 11:14:52 PM |
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I think it is not realistic that the average joe will handle his private keys on his own.
So there always will be a demand for something like banks, even if bitcoin will succeed.
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peta4e
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May 07, 2016, 11:30:29 PM |
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I think it is not realistic that the average joe will handle his private keys on his own.
So there always will be a demand for something like banks, even if bitcoin will succeed.
Yes society is dependent on banks and they will never stop using it even if bitcoin gets on the mainstream, and bitcoin is not that powerful yet to make banks disappear. |
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Ryananda
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May 08, 2016, 03:43:07 AM |
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I think it is not realistic that the average joe will handle his private keys on his own.
So there always will be a demand for something like banks, even if bitcoin will succeed.
Yes society is dependent on banks and they will never stop using it even if bitcoin gets on the mainstream, and bitcoin is not that powerful yet to make banks disappear. Yes true once it is proven that all bitcoin users still use the banks to redeem bitcoin to currency. It is proof that human beings can not be separated from the banks. That means that bitcoin will not be able to make banks disappear because it's highly unlikely. |
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killer5
Member
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Activity: 65
Merit: 10
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May 08, 2016, 04:06:53 AM |
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As we know bitcoin is gaining popularity day by day but its imposible that banks could disappear, bank could just work under bitcoin or they could start bitcoin as a currency , society is dependent on banks and even though bitcoin could gain its popularity like fiat , society wont leave behind the banks:)
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Imoote
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May 08, 2016, 05:45:35 AM |
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As we know bitcoin is gaining popularity day by day but its imposible that banks could disappear, bank could just work under bitcoin or they could start bitcoin as a currency , society is dependent on banks and even though bitcoin could gain its popularity like fiat , society wont leave behind the banks:)
Yes absolutely right people will choose the banks due to any time the community will continue to rely on banks. Very hard to make banks disappear. Banks will continue to get help from the government so it is very difficult to disappear. Because if the banks disappear country's economy will weaken and it could also weaken the country. |
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Enotche
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May 08, 2016, 06:25:42 AM |
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Theoretically, yes. If everyone in the world have started to use exclusively Bitcoin and cease to carry money in banks, the latter would undoubtedly have collapsed. But such a scenario no one seriously considers. The banking industry is not so much worried about Bitcoin as blockchain technology. Banks have become so accustomed to collect their share whenever money changes hands, it can no longer imagine a life without this source of income.
Even the widespread introduction of decentralized cryptocurrency is unlikely to be a fatal blow for the banks. In case if cryptocurrency widespread income Bitcoin network (eventually miners) could reach $ 425 billion in 2014. At first glance, this seems an enormous sum for a standard service for transmitting / sending money. However, when you consider the fact that Bank of America over the same period was a gain of $ 95 billion alone, it is clear that only a tiny portion of the total market of money transfers falls on the share of Bitcoin.
On this basis, even widespread Bitcoin or any altcoins not lead to a complete collapse of the banking system, although the banks themselves may take some measures that will make it possible. The fact that those above $ 425 billion are part of the revenues that banks receive with minimal risk and almost no cost. There is no risk, as well as almost no cost and the fact that you take $ 30 for obtaining a money transfer, especially bearing in mind the fact that the bank within three days of "cool" your money at delaying payment. So, if that income stream dries up or seriously reduced, it will have something to replace. This, in turn, means that most of the bank's revenue will come from the more risky areas of activity, such as loans or trade. To understand what it may lead, you can just remember the crisis of 2008-2009.
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wildan88
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Activity: 1862
Merit: 1046
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May 08, 2016, 06:29:11 AM |
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This question may have the same meaning as. whether bitcoin can replace fiat? and the answer will never, as well as bitcoin bank that can not make disappear.
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eddyubachs
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May 08, 2016, 06:31:23 AM |
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This question may have the same meaning as. whether bitcoin can replace fiat? and the answer will never, as well as bitcoin bank that can not make disappear.
Yeah bank will never disappear even if bitcoin gets on the mainstream as it is difficult to imagine the life without the banks as it is helping us in many ways. |
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DOGE12321
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May 08, 2016, 06:32:53 AM |
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That is kinda Bitcoin's aim at the moment. To abloish the current system and make the Bitcoin system more popular. But it may take a long... time. |
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JessicaSe
Legendary
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Activity: 840
Merit: 1000
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May 08, 2016, 06:36:14 AM |
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Bitcoin doesn't have that high potential or that high power to make banks disappear, as banks are the most trusted organization at a moment.
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senyorito123
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May 08, 2016, 06:57:05 AM |
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That is kinda Bitcoin's aim at the moment. To abloish the current system and make the Bitcoin system more popular. But it may take a long... time. It really takes longtime because bitcoin has many things to prove with and it gas lack of adoption now for making bank disappear i really doubt that it will happen because bank is the most safest system to save your money in this world and bitcoin could not replace it because bitcoin price is unstable. |
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