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chidrawarster
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October 16, 2017, 11:10:59 AM |
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From my point of view, its not so easy to replace the banks system instead they can integrate with the banks or change the system & they can be used a w widely used currency only by collaboration.If we still think that banks will disappear , it may be wrong as they are the ones who provide services to most of the sectors and financial institutions as well. What i can see in the near future is the bitcoin will be used widely and banks will be insisting customers to use the bitcoin as a merchant payment option and still they can even earn revenue from that as well. Thats my forecast for now, however, bitcoin is not yet regulated everywhere.
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Blackwhite69
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October 16, 2017, 12:10:26 PM |
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From my point of view, its not so easy to replace the banks system instead they can integrate with the banks or change the system & they can be used a w widely used currency only by collaboration.If we still think that banks will disappear , it may be wrong as they are the ones who provide services to most of the sectors and financial institutions as well. What i can see in the near future is the bitcoin will be used widely and banks will be insisting customers to use the bitcoin as a merchant payment option and still they can even earn revenue from that as well. Thats my forecast for now, however, bitcoin is not yet regulated everywhere.
It seems so, doesn't allow banks to easily simply disappear because the bank is where your financial services.  |
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worle1bm
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October 16, 2017, 12:22:10 PM |
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Yes it might happen in future but it seems not to early as people prefer fiat money and BTC is not so popular among individuals and due to price instability people fear it and prefer to save in banks. |
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Anies_Sandi
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October 16, 2017, 12:40:35 PM |
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Yes it might happen in future but it seems not to early as people prefer fiat money and BTC is not so popular among individuals and due to price instability people fear it and prefer to save in banks. it's possible that it can happen, because in the future there will be more interesting and more sophisticated than the current bank. let alone the development of today is increasingly sophisticated and changing |
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Xenophoto
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October 16, 2017, 01:06:22 PM |
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Crypto (and bitcoin) can and ARE making banks change their ways. At least the smart ones will try and develop a climate that includes services and products from the crypto world.
It would also be interesting to see how other financial institutions (ie Western Union, PayPal) will tackle crypto.
Is tackling crypto necessary for them at all? They are still at the top of things and tackling crypto will just be bad for them because it's as if they are not so confident with their own product or company. The only reason to tackle crypto is to have an idea that it is going to beat you in the future, but people are seeing it as something that's already beating your product so you tackle it. Bitcoin can make banks disappear, it's not totally impossible. But, the government owns the world and the banks are supported by them so it will be a rough road to get bitcoin to the top. It will be interesting what would the government do in the future once bitcoin has become mainstream. Bitcoin is starting to get attention nowadays and it is no surprise for the current bitcoiners to see bitcoin rise to the top. It is something that the government have a long time to prepare for so I wonder what they have to defense their fiat system against the rise of crypto. |
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Rajat97
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Activity: 14
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October 16, 2017, 01:22:35 PM |
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Banks have many purpose other than just currency. Banks maintain account which we hold and the regular transaction will not be possible. To some extent we can say that banks may disappear if the currency is more stable. At the current stage bitcoins are not so stable that they are replace the banks. Maybe in future other cypto currencies can totally eradicate banks. |
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kinzey
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Activity: 254
Merit: 100
Blockchain with solar energy
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October 16, 2017, 01:25:09 PM |
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The very rich wont let that happen. Digital currecy is here to stay but banks wont disappear... |
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cryptoglobal79
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Activity: 308
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October 16, 2017, 01:28:08 PM |
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No i dont think bitcoin will really replace banks in the future. People still use banks for taking credit or something like. Real money will continue to be used.
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Peashooter
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October 16, 2017, 01:41:18 PM |
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I don't think BTC can make all banks disappear. But if the banks want to maintain the public's attention to them, they need to adapt with bitcoin. Due to the public's demand to crypto currency, the banks and other financial institution must open their system for bitcoinners or else they will lost the chance to gain more profit in this market |
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Aura
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October 16, 2017, 01:52:21 PM |
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Theoretically could it substitute banks, I mean what can a bank do that is necessary that Bitcoin can't ?
Bitcoin's system is even more reliable because there is no central authority so it's not possible to bring more units (Coins) in circulation.
But in reality, when I look at the society now, this will never happen. Too much people trust on some government controlled central bank that can print an unlimited amount of money and do whatever they want with the economy. Maybe the society will change it's vision in the future, we will see.
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Actionminow
Jr. Member
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October 16, 2017, 04:30:36 PM |
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My opinion: the bank will not disappear. Instead there is no currency bank but a bitcoin bank. |
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hawkins
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October 16, 2017, 04:36:28 PM |
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thinking that it is very difficult to eliminate what various countries have applied. in fact, the bank has been recognized by the whole world. well, bitcoin may have started to be recognized, but I guess bitcoin has a different path to the bank. so, bitcoin can not make the bank disappear.
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Strught85
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October 17, 2017, 01:05:16 AM |
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Undoubtedly it will not come about whenever soon, BTC is a currency of the long term but getting more than location of the true currency of the entire world that is fairly structured at present is not going to be a quick-time period undertaking if BTC could overthrow fiat at whenever owner needs.
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paradise123
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October 17, 2017, 02:02:16 AM |
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It's very unlikely that bank will disappear because of Bitcoin. If hard currency is gone than banks will start using Bitcoins as a new currency and in online banking as it's already dealing in hard currancy in online. So no bank won't disappear because of Bitcoins in my opinion.
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October 17, 2017, 03:16:31 AM |
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It's very unlikely that bank will disappear because of Bitcoin. If hard currency is gone than banks will start using Bitcoins as a new currency and in online banking as it's already dealing in hard currancy in online. So no bank won't disappear because of Bitcoins in my opinion.
Same thought as with me. Bitcoin can't make bank disappear because it has been already embrace by many common people to make their money safe and protected. Bitcoin needs bank for transferring our money in and out. Without banks, we can't use the cash that was converted from btc. So bitcoin can't stand alone with the absence of fiat currency and bank now for the fact that not all people are using crypto-currency, still many humans are unaware about bitcoin. |
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captainhera
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October 17, 2017, 03:23:20 AM |
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This is not possible because not everyone wants to turn all their money into bitcoin. There are many investors who see the risk of the crypto market and they are anxious not to participate in this electronic money industry. |
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ankit05
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October 17, 2017, 03:45:47 AM |
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i think bank will not disappear. because the bank offers many facilities. if Can Bitcoin make Banks disappear.if it happens then it will take a very long time.
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Ankush2108
Newbie
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Activity: 139
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October 17, 2017, 04:00:33 AM |
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Yeah sure it may happen, but they are not gonna close they can change their criteria or service. Bitcoin is a advance way digital cryptocurrency and it can effect banks. But they can find some other ways to stay in a market. But it is sure that Bitcoin gonna effect the banks.
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newlone
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October 17, 2017, 04:35:20 AM |
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How can Bitcoin make Banks disappear?? This is not possible and it is not possible to replace the banks. Making all the money into bitcoins is risky and you can not predict the future so it is a big risk.
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Ridwan Fauzi
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October 17, 2017, 05:50:17 AM |
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it will be very difficult to say the bank will disappear, of course if the bank can set the system clearly and regularly. but I expect banks and bitcoins side by side to overcome the financial problems that occur in the world.
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