tommygunyeah
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February 13, 2016, 04:06:31 PM |
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Certainly it will not happen anytime soon, BTC is a currency of the future but taking over place of the real currency of the world that is pretty structured currently won't be a short-term project if BTC could overthrow fiat at anytime owner wishes.
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, but full nodes are more resource-heavy, and they must do a lengthy initial syncing process. As a result, lightweight clients with somewhat less security are commonly used.
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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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pneumatic5
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February 13, 2016, 04:10:28 PM |
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Certainly it will not happen anytime soon, BTC is a currency of the future but taking over place of the real currency of the world that is pretty structured currently won't be a short-term project if BTC could overthrow fiat at anytime owner wishes.
Yeah, I believe that banks will never disappear, as banks are the most powerful financial institutions that we have and people will always follow banks for their day to day transactions. |
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Junko
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February 13, 2016, 04:14:24 PM |
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Bitcoin won't make banks disappear. Believe it or not, banks aren't stupid. They will adapt bitcoin/blockchain technology for their advantage and use it to exploit some market, somehow, someway and make millions billions trillions quadrillions at others expense and when things come crashing down, the government will bail them out.
As much as I hate to say it, banks aren't going anywhere.
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upsidedown75
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February 13, 2016, 04:23:15 PM |
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No it will not disappear bitcoin as banks are not currency with which bitcoin is in competition and the banks will sooner start working with bitcoin as the banks job is to work with currencies and bitcoin is a currency.
And may be Bitcoin itself require the need of banks if it took physical shape.
Absolutely true. Users here make use of bitcoin wallets whether online or offline but these also are online banks. We need a place to store those coins and these are called banks which would exist forever. However, I believe that bitcoins would possible reduce the use of fiat cash in future and people would prefer crypto currency rather than owning hard cash. |
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BTCLovingDude
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BTC to the moon is inevitable...
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February 13, 2016, 04:27:17 PM |
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No it will not disappear bitcoin as banks are not currency with which bitcoin is in competition and the banks will sooner start working with bitcoin as the banks job is to work with currencies and bitcoin is a currency.
And may be Bitcoin itself require the need of banks if it took physical shape.
Absolutely true. Users here make use of bitcoin wallets whether online or offline but these also are online banks. We need a place to store those coins and these are called banks which would exist forever. However, I believe that bitcoins would possible reduce the use of fiat cash in future and people would prefer crypto currency rather than owning hard cash. i can see people using bitcoin as their primary means of purchasing stuff as bitcoin becomes more mass adopted but i can not see banks disappear, because they can evolve too and embrace the revolution of bitcoin. |
--looking for signature--
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kartaggen
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February 13, 2016, 04:31:57 PM |
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No it will not disappear bitcoin as banks are not currency with which bitcoin is in competition and the banks will sooner start working with bitcoin as the banks job is to work with currencies and bitcoin is a currency.
And may be Bitcoin itself require the need of banks if it took physical shape.
Absolutely true. Users here make use of bitcoin wallets whether online or offline but these also are online banks. We need a place to store those coins and these are called banks which would exist forever. However, I believe that bitcoins would possible reduce the use of fiat cash in future and people would prefer crypto currency rather than owning hard cash. Yeah, people would be more dependent on digital currency as compared to fiat, but that doesn't mean that banks would simply disappear, bitcoin would be used strongly as fiat currency is used at a moment. |
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lister storm
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February 13, 2016, 04:43:41 PM |
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no it can not do that though i hope it will manage to do this after a few decades what would give me some money
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blackraven1425
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February 13, 2016, 04:51:33 PM |
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I think no, because bitcoin cannot make banks disappear because The banks is legal and acclaimed by government as the depository institution of money but bitcoin is not and we already know even in some countries bitcoin is illegal  |
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lixer
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February 13, 2016, 06:12:25 PM |
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Bitcoins are a currency while banks are financial institutions. There is a huge difference between these two.
Bitcoins can not replace anything but can form their own identity and depending on their adoption, people may prefer using bitcoins over other forms of currencies but still banks would be in operation.
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iamthesky
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February 13, 2016, 06:16:17 PM |
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No, Never, I mean impossible that it could happen in near future, as banks have support from government and bitcoin lacks that support, so banks would be more powerful in future.
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BitcoinHodler
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February 13, 2016, 06:32:16 PM |
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it is hard to believe that a big system like banking system can disappear but on the other hand bitcoin was created to do this job and it has been growing ever since.
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Holding Bitcoin More Every Day
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bitgolden
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February 13, 2016, 07:33:53 PM |
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We may have a bank accepting bitcoins in future but it would not mean our current banks to disappear.
Many banks have been working for years and Citibank has completed over 200 years in existence. So, I believe both bitcoins and banks are needed for a healthy economy.
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Supercrypt
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February 13, 2016, 07:44:06 PM |
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We may have a bank accepting bitcoins in future but it would not mean our current banks to disappear.
Many banks have been working for years and Citibank has completed over 200 years in existence. So, I believe both bitcoins and banks are needed for a healthy economy.
Yes. Let us imagine banks go disappeared, now most of the people are unable to earn interest on their savings, it would be the worse scenario and a case where we would need to invest in ponzis to earn interest and we would lose our money then which I never want. I too believe both are needed for some simple reasons. |
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doctor877
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February 13, 2016, 07:48:59 PM |
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it is hard to believe that a big system like banking system can disappear but on the other hand bitcoin was created to do this job and it has been growing ever since.
That's true, banks are the most trusted institution by the people and existence of bitcoin cannot change the mindset of the people as they would continue to have faith in traditional banking system. |
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bargainbin
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February 13, 2016, 07:50:04 PM
Last edit: February 13, 2016, 08:23:39 PM by bargainbin |
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We may have a bank accepting bitcoins in future but it would not mean our current banks to disappear.
Many banks have been working for years and Citibank has completed over 200 years in existence. So, I believe both bitcoins and banks are needed for a healthy economy.
Yes. Let us imagine banks go disappeared, now most of the people are unable to earn interest on their savings, it would be the worse scenario and a case where we would need to invest in ponzis to earn interest and we would lose our money then which I never want. I too believe both are needed for some simple reasons. People seem to forget that there's more to banks than ATMs. If you need to finance a car, a house, or a business, that's what banks do. Sure, there's also the lending section of this forum, but that's not banking, that's fraud and usury. The goof beneath me, VVV for instance. I'll just live in a cardboard box & ride my tricicle until I can afford to buy a car & house & pay them in full. |
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Meuh6879
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February 13, 2016, 08:03:56 PM |
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Banks are not needed when you can sell and buy bitcoins with exchange of goods.
People are very blocked on this thing ... when i read this thread.
If tomorrow, Currencies (and Banks) shutdown ATM and wires services ... what is the ONLY service that it can replace this ?
Bitcoin.
People don't understand the real power of the Bitcoin network ... cut the banks, refuse devaluate and inflationist currencies.
People earn too much, actually, to use Bitcoin at is real value and utility.
Keep saving.
Keep cash.
Isolate from the actual mess of DARK economies (politics and war).
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dupeddonk
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February 14, 2016, 09:39:38 AM |
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Depends if bitcoin owns an invisibility cloak or not.
Probably not.
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john2231
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February 14, 2016, 09:45:15 AM |
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For me no because bank still safe than bitcoin because bitcoin has a possible to hack and bitcoin value is not stable so its impossible that the banks will be disappear because of bitcoin... do you think guys if you forgot the password or you accidentally deleted your password in your laptop you can recover your account for me no so banks and atm's is always safe than bitcoin..
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mickiya
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February 14, 2016, 09:52:46 AM |
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The ideal position is that we can have institutioins like bank we can save and borrow. That is regulated and safe.
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bitbaby
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February 14, 2016, 09:57:49 AM |
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For me no because bank still safe than bitcoin because bitcoin has a possible to hack and bitcoin value is not stable so its impossible that the banks will be disappear because of bitcoin... do you think guys if you forgot the password or you accidentally deleted your password in your laptop you can recover your account for me no so banks and atm's is always safe than bitcoin..
People lose more money every year stored in their bank accounts and atms as compared to Bitcoins, the only bitcoins that get stolen are because of either carelessness in handing private keys or investing in scams. |
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