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Daneric
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July 18, 2016, 07:24:44 AM |
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I consider bitcoin as a form of currency just like the dollars, yen and pound Sterling. The only difference between bitcoin and the other currency is that bitcoin is decentralized and is not controlled by any institution. Due to its nature of operation, I don't think it has any direct effect to the operations of the banks. It can only be a threat to other currencies but not to the banks.
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diegz
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July 18, 2016, 07:31:57 AM |
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I consider bitcoin as a form of currency just like the dollars, yen and pound Sterling. The only difference between bitcoin and the other currency is that bitcoin is decentralized and is not controlled by any institution. Due to its nature of operation, I don't think it has any direct effect to the operations of the banks. It can only be a threat to other currencies but not to the banks.
Well that's true.. Bitcoin has no effect to banks, except if bank is trying to gamble and compete bitcoin using their fiat and creating the same technology as bitcoin having an idea to extinct bitcoin. But since there is no such action is happening, I think the two would just be going to go on racing with each other in parallel.. |
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danherbias07
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July 18, 2016, 08:39:08 AM |
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I consider bitcoin as a form of currency just like the dollars, yen and pound Sterling. The only difference between bitcoin and the other currency is that bitcoin is decentralized and is not controlled by any institution. Due to its nature of operation, I don't think it has any direct effect to the operations of the banks. It can only be a threat to other currencies but not to the banks.
You got it right. Banks are like holders they keep your money safe but in exchange they will use it for different invesments or they could let other people borrow your money. That is why they pay an interest for those who let their money be kept in banks. |
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Sorrowfox
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July 18, 2016, 10:04:30 AM |
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Well it is impossible for bitcoins to replace bank because banks are there for the local currency of each country. It will only be possible if all of the country will only use bitcoin as a mode of payment. If that happens, then that is the only time that bitcoins can make the bank disappear. Because as for now, there are things that banks can do that bitcoins can't do. |
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Crazygreek
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July 18, 2016, 11:29:18 AM |
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Nope, goverments of many countries will no allow to bitcoin to kill banks, at my opinion the highest bitcoin achivment can be becoming a legal currency somewhere.
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tygeade
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Activity: 2114
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July 18, 2016, 12:17:14 PM |
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Nope, goverments of many countries will no allow to bitcoin to kill banks, at my opinion the highest bitcoin achivment can be becoming a legal currency somewhere.
Bitcoin can become a legal currency in those countries where the Government is not corrupted but it is unlikely to happen in all countries as majority of Governments are corrupted. |
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Maesters1-
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July 18, 2016, 02:56:36 PM |
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Nope, goverments of many countries will no allow to bitcoin to kill banks, at my opinion the highest bitcoin achivment can be becoming a legal currency somewhere.
Bitcoin can become a legal currency in those countries where the Government is not corrupted but it is unlikely to happen in all countries as majority of Governments are corrupted. but corruption is the end of currency or banks. it can destabilize a country but cannot finish the use of banks. i think bitcoin also cannot disappear band but instead it will turn it more powerful and profitable. because then people will use these banks for transaction. |
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virasisog
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July 18, 2016, 04:05:54 PM |
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If the banks adopt the bitcoin and provide service based on bitcoin, it will cut their cost a lot. They can make more money.
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xIIImaL
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Merit: 1005
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July 18, 2016, 04:16:11 PM |
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If the banks adopt the bitcoin and provide service based on bitcoin, it will cut their cost a lot. They can make more money.
Banks have taken quite long time to establish. Furthermore, banks perform different functions which will keep them going. As it stands, bitcoin is known by a very small percentage of the global population. Therefore, it will be unrealistic to claim that bitcoin will make banks disappear. |
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romero121
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July 18, 2016, 04:26:22 PM |
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Bitcoin has got the increased potential to grow higher than the banking, but in reality more people were known to the negative side of the bitcoin. This keeps more to stay away from bitcoin and move towards bank's.
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peta4e
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July 18, 2016, 04:43:21 PM |
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Bitcoin has got the increased potential to grow higher than the banking, but in reality more people were known to the negative side of the bitcoin. This keeps more to stay away from bitcoin and move towards bank's.
Yes the only fact banks are surviving is only because people are not aware about bitcoin yet once they start knowing what bitcoin is they will definitely switch to bitcoin. |
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clickerz
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July 18, 2016, 04:46:09 PM |
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Bitcoin has got the increased potential to grow higher than the banking, but in reality more people were known to the negative side of the bitcoin. This keeps more to stay away from bitcoin and move towards bank's.
There are banks now who are adapting blockchain, its a matter of time that some banks may accept bitcoin depending on location or country they are operatng. We know that some countries do not recognize the bitcoin. |
Open for Campaigns
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abugseuf
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July 18, 2016, 07:10:36 PM |
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Bitcoin has got the increased potential to grow higher than the banking, but in reality more people were known to the negative side of the bitcoin. This keeps more to stay away from bitcoin and move towards bank's.
There are banks now who are adapting blockchain, its a matter of time that some banks may accept bitcoin depending on location or country they are operatng. We know that some countries do not recognize the bitcoin. yes it is a fact that some countries has yet not recognize bitcoin but i think that a time will come when they will recognize it. because when majority of the countries specially China Japan Russian and India will use it then why will the other countries not try to use it. |
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Imoote
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July 19, 2016, 04:46:31 AM |
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Bitcoin has got the increased potential to grow higher than the banking, but in reality more people were known to the negative side of the bitcoin. This keeps more to stay away from bitcoin and move towards bank's.
Yes the only fact banks are surviving is only because people are not aware about bitcoin yet once they start knowing what bitcoin is they will definitely switch to bitcoin. Not even when a lot of people who know bitcoin people will remain at the bank. Because the bank will continue to be updated and can follow the development of time so it will not lose in the competition. Very unlikely bitcoin could make banks disappear, because the reality is at the moment a lot of people using bitcoin also use a bank like me. |
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Dora Doll
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Activity: 84
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July 19, 2016, 05:32:32 AM |
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when bitcoin will fully applicable then it i will disappear banks
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madwica
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July 19, 2016, 05:56:14 AM |
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when bitcoin will fully applicable then it i will disappear banks
No i do not think bank will disappear by currency itself because bank are the safe keeper of our money they only adopt all currency for their growth that is why if ever bitcoin would be more popular bank will do things to accept bitcoin as their another currency offered to the depositor or creditor. |
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doctor877
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July 19, 2016, 06:03:14 AM |
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I hope it is not possible to banks disappear because of bitcoin, people have strong stable transaction in banks than bitcoin . they still needing the banking services to even purchase and trade the Bitcoins online, i hope both banks and bitcoins are required for people to increase their financial credibility.
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superbit123
Newbie
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Activity: 8
Merit: 0
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July 19, 2016, 07:22:20 AM |
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yes i think band will do so. because bitcoin will be used instead of fuat currency and there will be no use of banks then
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Imoote
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July 20, 2016, 04:36:03 AM |
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I hope it is not possible to banks disappear because of bitcoin, people have strong stable transaction in banks than bitcoin . they still needing the banking services to even purchase and trade the Bitcoins online, i hope both banks and bitcoins are required for people to increase their financial credibility.
Bitcoin really can not make the banks disappear because it is highly unlikely. Banks still have a very important role for everyone. I think bitcoin used to benefit while the bank to save money securely. Bitcoin and usefulness of each bank. |
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madwica
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July 20, 2016, 05:02:51 AM |
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I hope it is not possible to banks disappear because of bitcoin, people have strong stable transaction in banks than bitcoin . they still needing the banking services to even purchase and trade the Bitcoins online, i hope both banks and bitcoins are required for people to increase their financial credibility.
Bank will never disappear by any currency its because bank is the holder of currency and i only see the bank will adopt bitcoin if the price will be stable in the future but i do not want to happen that because we can not earn big amount on our investment if the price will be stable. |
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