Can Bitcoin make Banks disappear?

[Meuh6879]

they dont' want to experiment with their money at an old age.

wait a moment ... the old age have been when we don't have debt and many wars ?



So, now ... we have Debt AND War ... it's the futur.

oh no, banks are not the futur, Bro.

https://www.youtube.com/watch?v=joITmEr4SjY

[upsidedown75]

Banks are a old profession like Prostitutes they will always find a way to get that money from the masses.
Do not expect them to fall off any time soon,they have their claws into the system pretty good.

Yes the bankers are more expert business persons, they can fit themselves in any modern system which is introduced for business related finance in order to give success to their banks.

[umaOuma]

The one thing is for sure that banks will always survive, people who like banks will continue with it and many users here are just promoting bitcoins as they are on forum, but the reality is that we all need banks and majority of us are using it.

[Iseecookies]

Bitcoin can change the way banks do business but it will not replace a finely established system that so many are used to dealing with.
If you put bitcoin next to a copy of bitcoin that the banks are pushing,the public would choose the bank copy all day long.

[Imoote]

Bitcoin can change the way banks do business but it will not replace a finely established system that so many are used to dealing with.
If you put bitcoin next to a copy of bitcoin that the banks are pushing,the public would choose the bank copy all day long.

Yes absolutely right bitcoin will not affect banks that will make disappear, it is not possible.
Banks are required economic institutions that exist in every country.
While arguably bitcoin crypto and transactions only at online.

[hendra147]

BTC will probably not make the banks disappear but it will make them offer better services in the future

maybe bank will increase his interest to make more people use it in future. or maybe bank will reduce the fee transaction to other bank account

[Yakamoto]

BTC will probably not make the banks disappear but it will make them offer better services in the future

maybe bank will increase his interest to make more people use it in future. or maybe bank will reduce the fee transaction to other bank account

Well banks, interest and fractional reserve lending basically go hand-in-hand, so you really have to choose which of the two evils.

Would you rather have interest on your investment, or would you rather have inflation?

[hendra147]

BTC will probably not make the banks disappear but it will make them offer better services in the future

maybe bank will increase his interest to make more people use it in future. or maybe bank will reduce the fee transaction to other bank account

Well banks, interest and fractional reserve lending basically go hand-in-hand, so you really have to choose which of the two evils.

Would you rather have interest on your investment, or would you rather have inflation?

so you will choose bitcoin..? you will put all of your money at bitcoin..? are you sure bitcoin will keep rising and the percentage of price higher than fiat inflation..? 

[Yakamoto]

BTC will probably not make the banks disappear but it will make them offer better services in the future

maybe bank will increase his interest to make more people use it in future. or maybe bank will reduce the fee transaction to other bank account

Well banks, interest and fractional reserve lending basically go hand-in-hand, so you really have to choose which of the two evils.

Would you rather have interest on your investment, or would you rather have inflation?

so you will choose bitcoin..? you will put all of your money at bitcoin..? are you sure bitcoin will keep rising and the percentage of price higher than fiat inflation..? 

I can't put all of my money in Bitcoin as there simply isn't any way for me to function normally in society without owning fiat.

Bitcoin is most likely going to outpace inflation, even if it is at 2%/year, Bitcoin would only need to go up ~10% after every halving to outpace inflation. If this was coupled with a strong user base, there would basically be no issue in my opinion.

But first I need my utility companies to start accepting Bitcoin, then we'll be getting somewhere.

[QuestionAuthority]

People say "bank" as if it's this one item that works alone like hammer, screwdriver, automobile, chainsaw. The finance industry is made up of many diverse components that create a system of individual parts working in unison to create the functionality of what we know as a "bank".

Banks loan money, right? But banks couldn't loan money with the risk assessment system created by the major credit rating organizations like Equifax and Experian. Without these credit trackers banks would make even more bad loans than they already do. The interest rate these lenders use needs to come from somewhere. Banks can't just be allowed to make the rate what ever they want. That would be bad for the economy and hurt the borrower so the government (federal reserve) sets the interest rate. Some people need loans but have hurt their credit so mainstream banks can't lend them money. This dynamic created the subprime market of special banks willing to take a higher risk for an increased interest rate. When borrowers default on their loans and end up in real financial trouble the banks don't lock them up in the bank vault until they pay. Banks aren't set up to be capable of fixing that problem. They sell that bad account at a discount to a collection agency which is a another necessary business in the banking system. If people still can't pay they now need another branch of the government to help them organize their finances and get out of trouble without going to jail (bankruptcy).

Banks also provide safety and insurance for people's money, provide safety deposit boxes for the storage of hard physical goods like gold or paperwork, they act as payment agents between millions of other banks and businesses and provide accounts that pay interest on retirement accounts like 401k and other savings.

So, you can see now that a bank is not a hammer or screwdriver with a single small function that can be taken over by Bitcoin. When anyone throws the word "bank" around and claims that Bitcoin can replace them they are just showing how completely clueless they really are.

I going to say the above one more time because there's too much incorrect crap still being spouted in this thread.

[danherbias07]

BTC will probably not make the banks disappear but it will make them offer better services in the future

That would be the best idea i think. Letting bitcoin in and they can invest too and offer some good services for their own profit

[richmcrich]

I think bitcoin is a great economical system and change to the world, However I don't think banks will disappear, Banks are important and a main part of the economical system, I think bitcoins will coexist with banks.

[honeyhtet]

I think it can make banks disappear by taking over the role, But nothing can be done so just watch and see...

[simonloff]

I think that's impossible, because the petrol dollar and the big USA industry complex are too big, You can never tell for sure though.

[blackmachinegun]

Yes I think it is possible in the future. Because you can see now that less people now using their banks. And of course it is really important for them
But the world is becoming now more digital and that will also be very good for Bitcoin. But it takes time.

lol precisely because of the digital era is coming many people use bank to make a debit card or ATM, it can be called as digital money. You do not need to bring money to buy goods. I can use a debit card.
banks will be difficult to disappear. very difficult

[n0ne]

I think bitcoin is a great economical system and change to the world, However I don't think banks will disappear, Banks are important and a main part of the economical system, I think bitcoins will coexist with banks.

As said bitcoin will be considered as a change in the economy system. But this system would never replace the banking system.

[ezview]

Banks will always be needed, even if their not needed they will make sure there is something new that we need them for. they wont just close their doors and move along because some decentralized bitcoin comes along.

[torrentheaven]

Banks will always be needed, even if their not needed they will make sure there is something new that we need them for. they wont just close their doors and move along because some decentralized bitcoin comes along.

Yes, banks will always be there as I don't see that bitcoin can make them disappear, banks are very strong institution at a moment and they have support from the Government.

[bestluck]

No, as both are not the same things but are different things, bitcoin is a currency while bank is an organization which maintain the affairs relating to currency of people, state and a number of national and international organizations. So bitcoin cannot make banks to disappear.

[ezview]

Banks will always be needed, even if their not needed they will make sure there is something new that we need them for. they wont just close their doors and move along because some decentralized bitcoin comes along.

Yes, banks will always be there as I don't see that bitcoin can make them disappear, banks are very strong institution at a moment and they have support from the Government.

Yeah, not to mention all the money in the world! Banks wont disappear. We know this, but I do think that they way banks are today wont be the way banks are in 5 years.