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spendawgs
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November 21, 2016, 05:47:43 AM |
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Some places maybe
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Woof woof!!
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icecube45
Legendary
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Activity: 1218
Merit: 1000
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November 21, 2016, 06:15:10 AM |
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As u can see many country's banks are adopting bitcoins in their transactions and I really feel banks will go down some day with just an app and websites.
Which is almost there already..
We cannot expect that each and every bank from different countries will start accepting bitcoins in future as Governments of certain countries will surely oppose bitcoins and won't support them as it can be a threat to their financial system and in that case banks will always keep on operating. I do not know if all banks will accept bitcoin in the end, but in my country the bank does not want to cooperate with bitcoin for several reasons. Perhaps the bank already has its own system that will be developed and accepted by many people. I think between the bank and the bitcoin very different so it can not work together, and bitcoin could not make disappear the bank because the bank has good strength. At this point in time, bitcoin is a good alternative for fiat money when in terms of financial transactions online and even other stuff like online gaming, trading altcoins, investing, and the like. Hence, it will not make banks disappears because it serves as a good alternative for people that want to use bitcoin. Yes, if bitcoin as an alternative I suppose it would can. Bitcoin currency alternative based online very good, maybe the future of all online transactions will start using bitcoin. So that bitcoin will not replace the bank because it was not possible, between the bank and bitcoin are so different that will have the function of each is different. |
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Tukang Becak
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November 21, 2016, 08:07:13 AM |
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I'm not sure that bank will disappear with the bitcoin. Bank will always be required whenever financial transactions, because it could not be entirely handled by the system. A simple example is the post office remained although the technology is already advanced.
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WhiteSkinnedFREAK
Member
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Activity: 67
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November 21, 2016, 08:11:48 AM |
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Lol no? Obviously theres not enough trust in the security of the value so I dont think people will be entrusting all of their money in a crypto
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Zaduca
Newbie
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Activity: 36
Merit: 0
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November 21, 2016, 08:39:05 AM |
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Lol no? Obviously theres not enough trust in the security of the value so I dont think people will be entrusting all of their money in a crypto
You are right. It will take many years if not decades for the cryptocurrencies to establish themselves to be trusted. |
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Fraxinus
Legendary
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Activity: 1274
Merit: 1000
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November 21, 2016, 08:59:20 AM |
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I really doubt that because Banks have a lot of power and the governments suppor the banks so it will be really hard for BTC to fully replace the whole banking system.So much more people have to adopt BTC in order for that to happen and also the economy has to change,it is possible but the real question is when it will happen and will there be any restrictions or we will use BTC and cryptocurrencies the way we do today.
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bamboylee
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November 21, 2016, 10:10:31 AM |
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100% impossible because bitcoin is not accepted by all countries and there are many country which are against bitcoin. and bitcoin is not the safest form of money because it has limit of 21 million so this would definitely cause crisis.
That limit is what makes bitcoin valuable. Without limit, it will be just another fiat that can be printed out unlimited, slowing losing value. But even with that said, it cannot make banks disappear. It is not designed to eliminate banks but just an option. |
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1Referee
Legendary
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Activity: 2170
Merit: 1427
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November 21, 2016, 10:14:32 AM |
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I really doubt that because Banks have a lot of power and the governments suppor the banks so it will be really hard for BTC to fully replace the whole banking system.So much more people have to adopt BTC in order for that to happen and also the economy has to change,it is possible but the real question is when it will happen and will there be any restrictions or we will use BTC and cryptocurrencies the way we do today.
It's only possible theoretically. Fiat based payment infrastructure is only improving where the need for an alternative currency tool as Bitcoin will be less wanted by the years. Why would people adopt Bitcoin purely as currency when they can do everything with fiat already? No hassle, no waiting for confirmations, no transaction fees, instant money returns when you bring an article back to the store, insured transactions, etc. Also, if Bitcoin is growing to a level where it possibly may cause some sort of damage to the economy, governments will not sit back and look at how their economy is being taken over by something as little as Bitcoin. It won't ever happen. |
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Doamader
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November 21, 2016, 12:33:46 PM |
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100% impossible because bitcoin is not accepted by all countries and there are many country which are against bitcoin. and bitcoin is not the safest form of money because it has limit of 21 million so this would definitely cause crisis.
That limit is what makes bitcoin valuable. Without limit, it will be just another fiat that can be printed out unlimited, slowing losing value. But even with that said, it cannot make banks disappear. It is not designed to eliminate banks but just an option. There are others altcoins with an huge supply and several new coins that after been mined can be staked and generate new coins, sure have a restricted number of coins should make it something rare, but some people already said that maybe bitcoin can cross those value in the future, meaning more bitcoin into circulation, i do hope they dont do such, but the core should do the best to bitcoin. Banks are following the world tendences, allowing several things to be done from phone at home, and their services are far away from what bitcoin can offer for you at the moment. |
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clickerz
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November 21, 2016, 12:48:26 PM |
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I really doubt that because Banks have a lot of power and the governments suppor the banks so it will be really hard for BTC to fully replace the whole banking system.So much more people have to adopt BTC in order for that to happen and also the economy has to change,it is possible but the real question is when it will happen and will there be any restrictions or we will use BTC and cryptocurrencies the way we do today.
It is not that easy to make bank disappear or to overhal the system. I think bank will remain but their influences or services will be limited as there other services who offers like a bank.Bitcoin a cryptocurrency will play an important role to disrupt this services. |
Open for Campaigns
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mirakal
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Merit: 1290
Leading Crypto Sports Betting & Casino Platform
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November 21, 2016, 01:01:17 PM |
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100% impossible because bitcoin is not accepted by all countries and there are many country which are against bitcoin. and bitcoin is not the safest form of money because it has limit of 21 million so this would definitely cause crisis.
That limit is what makes bitcoin valuable. Without limit, it will be just another fiat that can be printed out unlimited, slowing losing value. But even with that said, it cannot make banks disappear. It is not designed to eliminate banks but just an option. There are others altcoins with an huge supply and several new coins that after been mined can be staked and generate new coins, sure have a restricted number of coins should make it something rare, but some people already said that maybe bitcoin can cross those value in the future, meaning more bitcoin into circulation, i do hope they dont do such, but the core should do the best to bitcoin. Banks are following the world tendences, allowing several things to be done from phone at home, and their services are far away from what bitcoin can offer for you at the moment. Yeah because banks in the first place is centralize while bitcoin is decentralize. In banks every transaction will have to go through the right procedure and it's not fixed because it depends on the volume of transaction and the amount of transaction. In bitcoin it's fast because regardless of the amount transacted, we all transact in blockchain and the same as small amount. |
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8Habits
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November 21, 2016, 01:11:37 PM |
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I really doubt that because Banks have a lot of power and the governments suppor the banks so it will be really hard for BTC to fully replace the whole banking system.So much more people have to adopt BTC in order for that to happen and also the economy has to change,it is possible but the real question is when it will happen and will there be any restrictions or we will use BTC and cryptocurrencies the way we do today.
It is not that easy to make bank disappear or to overhal the system. I think bank will remain but their influences or services will be limited as there other services who offers like a bank.Bitcoin a cryptocurrency will play an important role to disrupt this services. I always think to bitcoin as a good alternative for fiat money in dealing online transactions.. Banks on the other hand is best use as it is for regular fiat money on any physical commercial transactions. |
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Blackdeath
Sr. Member
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Activity: 910
Merit: 261
★Bitvest.io★ Play Plinko or Invest!
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November 21, 2016, 01:20:38 PM |
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Certainly, it won't. In order to cash in or out your bitcoin, a bank provides for that transactions. Also, paying bills, loan, insurance are provided and goes through the bank. Without bank, the value of real monies would go down as because there is no centralized system of saving money. Last thing, bitcoin nothing without the banks. |
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sportis
Sr. Member
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Activity: 406
Merit: 252
Veni, Vidi, Vici
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November 21, 2016, 01:42:25 PM |
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According google the oldest bank which exist until today there is in Siena, Italy, which has been operating continuously since 1472. In my opinion, it is difficult to eradicate from people minds the concept of bank credit; Bitcoin acceptance would be more easy to people had never create a bank account.
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passwordnow
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November 21, 2016, 01:47:22 PM |
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According google the oldest bank which exist until today there is in Siena, Italy, which has been operating continuously since 1472. In my opinion, it is difficult to eradicate from people minds the concept of bank credit; Bitcoin acceptance would be more easy to people had never create a bank account.
Woah thanks for this ancient facts. I've been always amazed for some additional knowledge that I've been acquiring here in forum and with that oldest bank which is still operating is really an old geek bank. That can be a given thing that we like in bitcoin we don't have any account needed in able to use bitcoin but the government doesn't agree with that if all of the people will not use banks. |
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iqlimasyadiqa
Legendary
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Activity: 1596
Merit: 1011
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November 21, 2016, 02:45:02 PM |
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I really doubt that because Banks have a lot of power and the governments suppor the banks so it will be really hard for BTC to fully replace the whole banking system.So much more people have to adopt BTC in order for that to happen and also the economy has to change,it is possible but the real question is when it will happen and will there be any restrictions or we will use BTC and cryptocurrencies the way we do today.
hopefully that someday could become one of the bitcoin payment media legally recognized by the government. it is the first step to make payments bitcoin be better than BANK. bitcoin currently offers a range of varied services. we are just waiting, waiting for the government to support the use of bitcoin on its territory. |
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Techie5879
Member
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Activity: 168
Merit: 11
Back from the Dead!
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November 21, 2016, 05:18:25 PM |
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Its definitely possible that bitcoin could make the banks, as we know them, disappear within some time. Bitcoins are definitely affecting how banks work and many of the banks have had to accept/adopt the bitcoin/blockchain system. So, this concept is pretty acceptable, the banks as we know them might just disappear, but only time can tell  |
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Taki
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November 21, 2016, 06:02:39 PM |
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Totally no. Bitcoin can't make banks to disappear. Banks have very old hystory and they are result of humens progress as bitcoin is. So the maximum that may happen is that banks will start to work with bitcoin as with any other currency. Loans, saving bills and ect. everything as usual, but only in bitcoin or in some other crypto currency. That's our future.
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bitllionaire
Legendary
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Activity: 1120
Merit: 1000
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November 21, 2016, 06:07:57 PM |
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I really doubt that because Banks have a lot of power and the governments suppor the banks so it will be really hard for BTC to fully replace the whole banking system.So much more people have to adopt BTC in order for that to happen and also the economy has to change,it is possible but the real question is when it will happen and will there be any restrictions or we will use BTC and cryptocurrencies the way we do today.
it can only be happen when the majority of the people of the world start using bitcoin and if bitcoin can provide all the facliities that banks provide us and only then it can be possible that bitcoin will replace bitcoin. but i think it will take decades. |
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groll
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November 21, 2016, 06:36:54 PM |
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Some places maybe
In what particular place you think? Well, i think thats imposible. Banks has an important role on national currency, even if all country will switch to digital currency, banks will never dissapear. Money needs control, and only bank can do that. And many people defends on bank, saving on bank or the old tradition of saving money on bank will never fade even digital currency will introduce to all. |
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