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bargainbin
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February 18, 2016, 03:47:03 PM |
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Nope. all people will need bank.
how important it is when one large people such as George Soros pull all their money out of the bank, the currency of a country could be faltering you know
Why? Why would people need banks??? With btc you can store your money safely so why would you need a bank? You want to buy a house, but don't have $1 million? That's where the bank comes in. |
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"This isn't the kind of software where we can leave so many unresolved bugs that we need a tracker for them." -- Satoshi
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youdamushi
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February 18, 2016, 03:51:18 PM |
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Nope. all people will need bank.
how important it is when one large people such as George Soros pull all their money out of the bank, the currency of a country could be faltering you know
Why? Why would people need banks??? With btc you can store your money safely so why would you need a bank? You want to buy a house, but don't have $1 million? That's where the bank comes in. You mean lending? Well lending by crowdfunding is definitely the solution here, especially with btc it becomes really easy! |
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bitlost
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Activity: 63
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February 18, 2016, 03:51:38 PM |
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Bitcoin transfers are usually irreversible when there is at least one confirmation. This makes it hard for attackers to reverse without controlling significant percentage of the network or a long block reorganization... If transactions are reversible, the first option will never exist. Unless you are talking about a Paypal/bank approach which allows for chargeback. However, it is a must for a neutral party to meditate the transaction. With Bitcoin being trustless, the only way to do so is, as Amph mentioned, Multisig with escrow or a third party service.
Also, merchants can accept Bitcoin with little to no cost or loss. It wouldn't make sense if the merchant only wants to install a POS with Bitcoin integration when there is a large volume. Transactions are verified instantly by nodes when transactions are sent. If you're talking about confirmations, there isn't a need for confirmations with smaller valued transactions such as buying a coffee due to the difficulty of initiating a double spend as of now.
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Coaxme
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February 18, 2016, 03:54:30 PM |
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Absolutely not , banks could just adopt into the currency of bitcoin from which there would be bitcoin banks ...
Yeah but for now banks have no plans for that. They just hate bitcoin because the fee is very low |
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youdamushi
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February 18, 2016, 03:55:11 PM |
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Absolutely not , banks could just adopt into the currency of bitcoin from which there would be bitcoin banks ...
Banks are fucking useless. They're here only to take your money! Why would you need it! |
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cointinflas
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February 18, 2016, 04:20:28 PM |
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I think that the banks will not disappear. They may be developed further, change the way of the actual existence but I think that will survive. Always will be need for money in big plans or projects, or even in various situations of everyone of us. May be a place when are offered the needed warranties that something can go without problems and take the needed money (or tools which may replace those). Be this the time of the actual us dollar and be the tomorrow one when maybe will be the day of bitcoin or the cryptos. Even in the probably time of only the cryptos will exist such needs. And even with the most sophisticated crypto in existence will exist always a hacker which can be able to steal or break the security of our personal wallets. Or people which will offer crypto but not security. It is another thing a bank. In all the previous problems...
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el kaka22
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www.Crypto.Games: Multiple coins, multiple games
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February 18, 2016, 05:06:13 PM |
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Absolutely not , banks could just adopt into the currency of bitcoin from which there would be bitcoin banks ...
Yeah but for now banks have no plans for that. They just hate bitcoin because the fee is very low Just imagine a situation when there is no need of converting bitcoin into fiat. That is the point where the fall down of current banking system starts. |
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youdamushi
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February 18, 2016, 05:48:38 PM |
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I think that the banks will not disappear. They may be developed further, change the way of the actual existence but I think that will survive. Always will be need for money in big plans or projects, or even in various situations of everyone of us. May be a place when are offered the needed warranties that something can go without problems and take the needed money (or tools which may replace those). Be this the time of the actual us dollar and be the tomorrow one when maybe will be the day of bitcoin or the cryptos. Even in the probably time of only the cryptos will exist such needs. And even with the most sophisticated crypto in existence will exist always a hacker which can be able to steal or break the security of our personal wallets. Or people which will offer crypto but not security. It is another thing a bank. In all the previous problems...
Of course but if you need money you don't make a loan to bank money. Actually the loan of the bank is the money of somebody else so maybe we should loan to people directly it would be better than having a bank making fees for everyone and controlling the world  |
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Btcschool
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February 18, 2016, 05:59:41 PM |
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I don't think so. Bit coin never do thatn
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lixer
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February 18, 2016, 06:14:59 PM |
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I don't think so. Bit coin never do thatn
But I strongly believe bitcoin will take banking facility to all the people even in the under developed countries who do not aware of what is a banking system even in 21st century. This is enough to make banks get disappeared. |
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Kevin77
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February 18, 2016, 06:19:01 PM |
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-snip- Of course but if you need money you don't make a loan to bank money. Actually the loan of the bank is the money of somebody else so maybe we should loan to people directly it would be better than having a bank making fees for everyone and controlling the world You got a point. In real life also making banking person-to-person like bitcoin's core concept of peer-to-peer, will solve any need of banking system. When a community can help financially themselves then there is no need of banks. |
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Yaupgitda
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February 18, 2016, 06:33:39 PM |
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Nope. all people will need bank.
how important it is when one large people such as George Soros pull all their money out of the bank, the currency of a country could be faltering you know
Why? Why would people need banks??? With btc you can store your money safely so why would you need a bank? You want to buy a house, but don't have $1 million? That's where the bank comes in. You mean lending? Well lending by crowdfunding is definitely the solution here, especially with btc it becomes really easy! I will not crowdfund somebody to buy a house. It is too risky for me. How do I reposses the house if the borrow does not pay? |
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c789
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February 18, 2016, 06:34:33 PM |
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-snip- Of course but if you need money you don't make a loan to bank money. Actually the loan of the bank is the money of somebody else so maybe we should loan to people directly it would be better than having a bank making fees for everyone and controlling the world You got a point. In real life also making banking person-to-person like bitcoin's core concept of peer-to-peer, will solve any need of banking system. When a community can help financially themselves then there is no need of banks. Bitcoin can make banks disappear ONLY if libertarian or other small-government politicians become mainstream. All other politicians will never allow BTC to replace banks. EDIT: I should have said that there will always be a need for traditional banks. Pro big-govt politicians won't allow BTC to successfully compete with banks. |
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CryptoBjorn
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February 18, 2016, 07:07:19 PM |
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I dont think that it can happen. Many people doesnt even know what Bitcoin is.
And people need some normal banks too. They dont know the online wallets.
Yes I agree with you. I think it wont happen. Maybe it is possible in the future in 2030 maybe but now not in this time. Many people doesnt even how Blockchain works or something. They must learn that. So it wont be possible now. |
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PakistanHockeyfan
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February 18, 2016, 07:18:12 PM |
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I didn't realize this was still a discussion. Perhaps in 2000 year it could. Bitcoin is growing, but very gradually.
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bargainbin
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February 18, 2016, 07:20:04 PM |
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Nope. all people will need bank.
how important it is when one large people such as George Soros pull all their money out of the bank, the currency of a country could be faltering you know
Why? Why would people need banks??? With btc you can store your money safely so why would you need a bank? You want to buy a house, but don't have $1 million? That's where the bank comes in. You mean lending? Well lending by crowdfunding is definitely the solution here, especially with btc it becomes really easy! Whelp, nothing stopping you from crowdfunding a new house now. Try it & see how that goes for you. When you fail, try to figure out why you did, & why thousands of people didn't line up to lend you a million dollars. |
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Laosai
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February 18, 2016, 07:38:48 PM |
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Nope. all people will need bank.
how important it is when one large people such as George Soros pull all their money out of the bank, the currency of a country could be faltering you know
Why? Why would people need banks??? With btc you can store your money safely so why would you need a bank? You want to buy a house, but don't have $1 million? That's where the bank comes in. You mean lending? Well lending by crowdfunding is definitely the solution here, especially with btc it becomes really easy! I will not crowdfund somebody to buy a house. It is too risky for me. How do I reposses the house if the borrow does not pay? Same way the banks do it. The company through which you went to lend will sue him. The difference is that in a bank you deposit and they use your money and make you pay for that! In this system you decide if you invest or if you keep in your wallet! |
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bargainbin
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February 18, 2016, 08:07:09 PM |
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...
Same way the banks do it. The company through which you went to lend will sue him.
The difference is that in a bank you deposit and they use your money and make you pay for that! In this system you decide if you invest or if you keep in your wallet!
Did Kickstarter ever litigate on behalf of the "lenders"? Or do you expect everyone who "invested" a dollar in your house to take legal action? How would this work? |
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CryingMidget
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February 18, 2016, 08:23:36 PM |
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I dont think that it can happen. Many people doesnt even know what Bitcoin is.
And people need some normal banks too. They dont know the online wallets.
Yes I agree with you. I think it wont happen. Maybe it is possible in the future in 2030 maybe but now not in this time. Many people doesnt even how Blockchain works or something. They must learn that. So it wont be possible now. Even I agree with you dude Using bitcoin can transform the global payments arena into an open-source one, which means that its increased adoption can also drive up its value. More and more online merchants and large companies are opening up to the idea of accepting bitcoin payments while clients are also enjoying better transparency, lower costs, and quicker transactions on these. |
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CreativeCarol
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Activity: 70
Merit: 10
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February 18, 2016, 08:26:07 PM |
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Not anytime soon. As of now, I would say we need the banks now more than ever as they have been here for a while and are not going to be overthrown by something thats only 7-8 years old. It is not fair. Let BTC be more established, then we can move the banks away from us.
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