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Author Topic: Can Bitcoin make Banks disappear?  (Read 427559 times)
GermanFoobla
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October 18, 2016, 07:22:10 AM
 #2681

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?



Banks as WE know it may disappear, but banks generally will not disappear.
Bitcoins can reach allot but do you really think that they can make banks dissapear i think that banks wants to deal witht the bitcoin if he is getting
that big you know.
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Skaven
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October 18, 2016, 07:42:19 AM
 #2682

If the bitcoin can grow that big i dont think he will beat the banks but maybe banks will deal with the bitcoin and do the same thing with the dollars and other currencys off course
that is one of the biggest thing for the bitcoin when that happens.
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October 18, 2016, 07:42:27 AM
 #2683

I dont think that bitcoins can make banks disappear but i know what they can do and that is making allot o money when you use the bitcoin because
lots of people ar emaking money with the bitcoin.
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October 18, 2016, 08:02:24 AM
 #2684

There is a need for more Bitcoin ATMs that allow buying and selling. A lot of people are completely fine with online BTC transactions, but there others that would prefer transacting through an ATM because there is some familiarity with the in-person automated process. Bitcoin ATMs are good for the ecosystem.

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October 18, 2016, 08:14:54 AM
 #2685

I think that banks have to adapt their type of function and the banks don't just vanish off. It's hard to say what's going to happen and what's the role of cryptocurrencies has in the future. But sure is that financial structure might look like a different thing compared now, if and when bitcoin gets more audience.

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October 18, 2016, 08:33:53 AM
 #2686

We don't really need to feel anxious about it because bitcoin and banks will get well together other than make each other collapse. You know. Both of them are important things and do different things.
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October 18, 2016, 09:59:53 AM
 #2687

We don't really need to feel anxious about it because bitcoin and banks will get well together other than make each other collapse. You know. Both of them are important things and do different things.

That's right and we need both of them as we cannot rely only on bitcoin at a moment as we cannot spend bitcoin directly at a moment and to spend them we need to convert it to fiat and for that we need banks.
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October 18, 2016, 11:43:26 AM
 #2688

No bitcoin can't make bank disappear because both are different thing and our old guys will never use bitcoin because they will think bitcoin something else. And due to generation gap they will not accept bitcoin.
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October 18, 2016, 11:47:13 AM
 #2689

Bank will never be disappeared if they becoming scam lots of people are going to file a case for those owner of a banks, Well from me banks are stsrting adopting bitcoins ad technology base in my country we can deposit our bitcoins into banks.

I do believe it too that bitcoin is not going to make the banks disappear. Because it is one of the most important body of government that regulates the flow of money in a society. Because the government is not able to control bitcoins if the banks are going to be gone because of bitcoins. And no one is able to regulate and control bitcoins because in reality no body of government is able to do that.
It's really impossible that bitcoin can really banks disappear most of all banks are in the long run and it will linked in some of companies world wide although bitcoin is not yet linked and can't be deposited on the banks only in trading sites. If goverment imports bitcoin to there business and it will become legal as physical currency then bitcoin and banks will be partnered soon that bitcoin can be easily deposit to any bank branch world wide.

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October 18, 2016, 12:19:09 PM
 #2690

No bitcoin can't make bank disappear because both are different thing and our old guys will never use bitcoin because they will think bitcoin something else. And due to generation gap they will not accept bitcoin.
But humans actually have the ability to adapt the change in society. Back then, if you give somebody a computer and say that use that to earn money, he'll refuse. But today, if you give somebody a computer and told the same thing, he'll be happy to do so.

Those people that are very old might not accept Bitcoins, but we will come to a point were all those people are already dead. At that time, the people that are "young enough to understand" when Bitcoins took over are the "older" ones and the next generations will be using Bitcoin as well because that's one of the primary currencies when they were born.

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October 18, 2016, 02:05:53 PM
 #2691

No bitcoin can't make bank disappear because both are different thing and our old guys will never use bitcoin because they will think bitcoin something else. And due to generation gap they will not accept bitcoin.

Not everyone use bitcoin, may be they are do not anything about bitcoins
but I am sure bitcoin is enough safe than the bank.

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October 18, 2016, 06:44:55 PM
 #2692

Bitcoin does not any intention  to make banks disappear that's  I thought. actually bitcoin can be a good tandem in the bank or in any banks, if they will only see the edge of bitcoin.
I disagree completely with this bitcoin is an enemy of the banks because it allows you to be your own bank, and banks don’t like none of it, after all, why will they like competition?

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October 19, 2016, 01:13:24 PM
 #2693

We don't really need to feel anxious about it because bitcoin and banks will get well together other than make each other collapse. You know. Both of them are important things and do different things.

Now a days, bitcoin and bank both have a different paths, but in future, i am sure the day will come when both will be a work in a one path, So i don't think that bitcoin can disappear the bank. Now a days,  bitcoin is a small thing in front of bank. So it is impossible think.
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October 19, 2016, 02:52:01 PM
 #2694

bitcoin is getting big but can they make banks disappear i dont think they can becuase the banks will always hold their value because everyone needs to
use banks in their life everything goes trough banks.
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October 19, 2016, 05:46:03 PM
 #2695

We don't really need to feel anxious about it because bitcoin and banks will get well together other than make each other collapse. You know. Both of them are important things and do different things.

Now a days, bitcoin and bank both have a different paths, but in future, i am sure the day will come when both will be a work in a one path, So i don't think that bitcoin can disappear the bank. Now a days,  bitcoin is a small thing in front of bank. So it is impossible think.
Banks will never support bitcoins in future and I don't think they will start working together as bitcoin is threat to an banking system, in future many people will start using bitcoin but banks will never disappear.
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October 19, 2016, 06:26:40 PM
 #2696

We don't really need to feel anxious about it because bitcoin and banks will get well together other than make each other collapse. You know. Both of them are important things and do different things.
If banks and bitcoin perform different functions according to you then why should they fuse and become one. Banks and bitcoin are rivals and they will always be, but right now bitcoin or anything for that matter has the strength to make banks disappear.

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October 19, 2016, 06:33:33 PM
 #2697

i do not think so that bank can disappear by bitcoin , hope that they will work in cooperation with each other, and bank will accept bitocin for deposit and withdraw.
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October 19, 2016, 06:34:29 PM
 #2698

No bitcoin can't make bank disappear because both are different thing and our old guys will never use bitcoin because they will think bitcoin something else. And due to generation gap they will not accept bitcoin.

I tend to agree with you, but old people don't trust banks and are saving everything as cash money in their house. Bitcoin can offer them the perfect store of value tool where they have nothing to do with banks and governments. Not that these people will trust Bitcoin at first, or see an added value to it, but eventually they might change their mind as storing cash money at home is very dangerous.
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October 19, 2016, 06:41:18 PM
 #2699

i do not think so that bank can disappear by bitcoin , hope that they will work in cooperation with each other, and bank will accept bitocin for deposit and withdraw.
It should not disappear because we need banks for bitcoin to exchange  and banks are still more safe area to save our money unlike bitcoin that you are saving your money in online that you dont know it will stay long or not.. so bitcoin will be still stay and we need this banks for loans and savings..

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October 19, 2016, 09:22:20 PM
 #2700

i do not think so that bank can disappear by bitcoin , hope that they will work in cooperation with each other, and bank will accept bitocin for deposit and withdraw.
It should not disappear because we need banks for bitcoin to exchange  and banks are still more safe area to save our money unlike bitcoin that you are saving your money in online that you dont know it will stay long or not.. so bitcoin will be still stay and we need this banks for loans and savings..

But I think if bitcoin gets widely used and accepted in future then we don't need banks anymore as we can buy anything directly using bitcoin without converting to fiat, and it will reduce the customers of banks for sure.

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