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bitlancr
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September 16, 2016, 02:57:42 PM |
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We still need the bank to convert bitcoin to fiat. There are still merchandize we cannot buy thru bitcoin, so we need to convert. Without the bank, this cannot happen.
Yeah but when bitcoin becomes a main currency which you can use everywhere you have to imagine it like that. Still I think they wouldn't let that happen banks have way too much money to let it get to the point where that money has no value. I don't think anything can beat banks by this points cause the world is run by them. |
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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Milkduds
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September 16, 2016, 03:50:03 PM |
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Some of you may not be old enough to recall banks closing at 3:30pm on a Friday and people having to rush in to get their cheques into the bank or be screwed.
Likewise getting money for the weekend had to be done as well,then came the atm and at first people would gawk at it and use the teller instead. Some thought it was eliminating jobs and that type of thinking has sadly died off for faster and more efficient ways of doing business.
I bring this up because the banks have changed enough to keep pace,never exceeding but maintaining the slow steady path.
To think they are not actively looking into these new facets of doing business would be foolish,as the evidence of them tapping in to it is all around.
They may not be allowing it but they are dabbling in it behind the scenes till they have a way to protect their bottom line.
Banks like Prostitution will be around a tad bit longer.
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crairezx20
Legendary
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Activity: 1638
Merit: 1046
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September 16, 2016, 04:20:29 PM |
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I don't think so, since bank is the partner of my bitcoin wallet I think this is not good idea that banks will disappear. I can withdraw only my btc to my bank account.
same here its impossible that banks will disappear because we are using banks to withdraw bitcoins and convert it into fiat.. and they are perfect couple because we can easily transfer money to bitoin or bitcoin to money in the banks. |
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utkarshm
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September 16, 2016, 04:22:45 PM |
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I don't think Bitcoin can make banks disappear. Banks hold fiat and there are people who would rather die than embrace the idea of Bitcoin. Those people would keep the banks alive. Also, not everyone of us likes using the Internet or the technology itself. Some people just like sticking with what he/she have been using ever since. They simply don't want change.
Yes right there is no way that i could think that bitcoin could ever makes banks disappear,they both are completely differents things.Bitcoin can become really very popular in future but still to hold your cash or fiat money you need banks,its not possible in bitcoin wallets.So i also dont think that this could ever happen. |
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safari88
Legendary
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Activity: 1960
Merit: 1026
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September 16, 2016, 04:28:11 PM |
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I don't think Bitcoin can make banks disappear. Banks hold fiat and there are people who would rather die than embrace the idea of Bitcoin. Those people would keep the banks alive. Also, not everyone of us likes using the Internet or the technology itself. Some people just like sticking with what he/she have been using ever since. They simply don't want change.
Yes right there is no way that i could think that bitcoin could ever makes banks disappear,they both are completely differents things.Bitcoin can become really very popular in future but still to hold your cash or fiat money you need banks,its not possible in bitcoin wallets.So i also dont think that this could ever happen. yes you are right, in fact I think both would be good if work together, or the bank adopted a bitcoin and this would be a great advantage for bitcoin, if the bank has adopted bitcoin. so I think bitcoin will not be able to disappear the bank, even bitcoin will needs the banks in the future. |
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Tyrantt
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September 16, 2016, 05:18:49 PM |
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They'll "evolve", if bitcoin goes mainstream they'll adapt to it, nothing special. Bank will never disappear  |
Need some spare btc for a new PC that can at least run Adobe Dreamweaver.
BTC - 19qm3kH4MZELkefEb55HCe4Y5jgRRLCQmn ♦♦♦ ETH - 0xd71ACd8781d66393eBfc3Acd65B224e97Ae1952D
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passwordnow
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September 17, 2016, 03:42:37 AM |
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I do not think that will happen anytime soon. In the current world economy, banks are the foundation of money in general, and when I say money in general I refer to fiat money. But the things, of course, can change a lot with time...
It is really impossible that bitcoin is going to phase out the use of banks. Even they are going to be famous and used by majority of the people in the world there is soon to be a bitcoin bank and that is going to be under the blockchain management. So still they are going to be considered as banks but managing bitcoins.  |
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boyptc
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September 17, 2016, 04:04:00 AM |
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I do not think that will happen anytime soon. In the current world economy, banks are the foundation of money in general, and when I say money in general I refer to fiat money. But the things, of course, can change a lot with time...
Well it is not going to happen either because banks are really stable for a long time for almost centuries. They are already in the economy and they are contributing big part for the wealth of the country. So if bitcoin is going to make the banks disappear then that is going to be a big loss for a government but I don't think banks are able to make bitcoin disappear too. |
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Bameras
Newbie
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Activity: 39
Merit: 0
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September 17, 2016, 05:25:23 PM |
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I do not think that will happen anytime soon. In the current world economy, banks are the foundation of money in general, and when I say money in general I refer to fiat money. But the things, of course, can change a lot with time...
Well it is not going to happen either because banks are really stable for a long time for almost centuries. They are already in the economy and they are contributing big part for the wealth of the country. So if bitcoin is going to make the banks disappear then that is going to be a big loss for a government but I don't think banks are able to make bitcoin disappear too. The bitcoin will not make the banks disappear. The banks can use the bitcoin instead of the fiat, and reduce running cost. |
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Mastsetad
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September 17, 2016, 05:30:32 PM |
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I don't think Bitcoin can make banks disappear. Banks hold fiat and there are people who would rather die than embrace the idea of Bitcoin. Those people would keep the banks alive. Also, not everyone of us likes using the Internet or the technology itself. Some people just like sticking with what he/she have been using ever since. They simply don't want change.
We (bitcoin users) would probably like to have a change like that but as you said there are people from every corner of the world who would never like such a change as they have been using that system from start and they wont embrace a change so soon. |
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bitcointank
Member
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Activity: 89
Merit: 10
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September 17, 2016, 05:33:04 PM |
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Banks are stable, bitcoin can't destroy them, never and ever. Because not everyone will use bitcoin, at least in 100 years, people will still use paper/metal money, but digital currency, digital ones can be alternatives, but never replace them. Why A must replace B? They can exist and help each other
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jak3
Legendary
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Activity: 1274
Merit: 1004
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September 17, 2016, 05:52:07 PM |
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bitcoin has the potentiality tomake this true but bitcoin is not made for this it is a better choise than bank its like comparing a photograph with a pc or just a movie things are just more and more developed everyday which only makes our living very smooth and happy
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CroSany
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September 17, 2016, 06:19:51 PM |
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Traditional banks as we know them will never go away. I am sure that they at some point will come up with their own digital currency where their customers get all the benefits from crypto currencies but where the banks are still full in control of every economy aspect. The average joe has more trust in something issued by the bank than something "decentralized" as Bitcoin.
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Yakamoto
Legendary
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Activity: 1218
Merit: 1007
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September 17, 2016, 06:30:57 PM |
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Traditional banks as we know them will never go away. I am sure that they at some point will come up with their own digital currency where their customers get all the benefits from crypto currencies but where the banks are still full in control of every economy aspect. The average joe has more trust in something issued by the bank than something "decentralized" as Bitcoin.
Even if Bitcoin became the #1 form of currency use across the entire world, banks would never disappear and they would still be a thing, however their profits would be hampered by the rise of Bitcoin. hey would have a harder time instituting fractional reserve lending, they would have to own more Bitcoin to loan (relative to what they are able to do now) and there would be more tracking involved. |
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Bitcoinsummoner
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September 17, 2016, 06:56:21 PM |
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Bitcoin will love long but banks will never be disappear.. banks still a good choice because saving for your future have a great future..
And its imposible that banks can be disappear..
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dhimasnk
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September 17, 2016, 07:48:57 PM |
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I think, no. bank is a financial institution that is very important for the world economy. so I think, the bank will not be disappear
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BitcoinMarshal
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September 17, 2016, 11:01:15 PM |
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Bitcoin will love long but banks will never be disappear.. banks still a good choice because saving for your future have a great future..
And its imposible that banks can be disappear..
We most of members agree that Banks cannot disappear because without bank we have many problems around us Bitcoin and Alt coins technology is very good going but still they cannot disappear banks from our lives |
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garmerys
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September 18, 2016, 05:23:50 AM |
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Bitcoin will love long but banks will never be disappear.. banks still a good choice because saving for your future have a great future..
And its imposible that banks can be disappear..
We most of members agree that Banks cannot disappear because without bank we have many problems around us Bitcoin and Alt coins technology is very good going but still they cannot disappear banks from our lives I agree banks will never get disappeared but they will get used by world population not so significantly as currently we are using them. Due to bitcoin, people will forget bank and its facilities as they will be getting better service from bitcoin. |
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entrepmind23
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September 18, 2016, 06:05:03 AM |
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I think not because banks will always find a way in order to continue their existence. If they see bitcoin as a threat to them then they will modify and innovate to compete with bitcoin and in fact they are already studying and doing something to compete the technology of bitcoin and then applying it to them. Another thing is that fiat will continue to exist so as long as there is fiat then there will always be banks.
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8Habits
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September 18, 2016, 07:14:41 AM |
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I think not because banks will always find a way in order to continue their existence. If they see bitcoin as a threat to them then they will modify and innovate to compete with bitcoin and in fact they are already studying and doing something to compete the technology of bitcoin and then applying it to them. Another thing is that fiat will continue to exist so as long as there is fiat then there will always be banks.
Let us be aware that bitcoin has a limit of its production - I believe it is up to 12 million bitcoins and that is it. Hence, fiat money will still be around and so with the established banks. Let us be aware though that bitcoin was not created to take over fiat money and banks. It was created to have alternative way on transacting online comercially that is more convenient and private - people can choose as to what to use. |
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