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Author Topic: Can Bitcoin make Banks disappear?  (Read 427559 times)
marketgold
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August 12, 2016, 11:49:05 PM
 #2041

It seems that experts say that Bitcoin 'Here to Stay,' But Banks Could Disappear.


"TheStreet: How do you think FinTech will impact the way banks operate?

Frank Schwab: Banks either react on, or they will disappear. Anyway, the consolidation of the banking industry accelerates as the behaviour of people changes. Some banks will benefit from [FinTech], some will be pushed to the back end, and some will disappear."
http://www.thestreet.com/story/13419089/1/bitcoin-here-to-stay-but-banks-could-disappear-says-fintech-expert.html

What's your read on that?


I dont think that will gonna happend very soon. Even in dozens of years banks will not dissapers.  Because banks are controled by gouverments and they are an important fact for the economy of every country
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August 13, 2016, 01:58:03 AM
 #2042

Seriously no it cant, in fact it would be really hard to regulate with out USD
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August 13, 2016, 02:33:52 AM
 #2043

banks will change , and they can change the name of the banks but it can't disappear why because if people keep depositing their money then the bank will keep it alive because of the money they going to recycle it to earn more or to grow the investors money , but if bitcoin become famous and popular then many bank user will probably choose bitcoin than banks
Other wise from that to changing the name of the bank is not easy like you said because they must report to the government and the central bank before they changed their name and reaudit. i don't think how the bitcoin users wanna withdraw their money into fiat without a bank.

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August 13, 2016, 02:54:15 AM
 #2044

Digital currency could possibly one day but not Bitcoin specifically
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August 13, 2016, 03:36:38 AM
 #2045

It seems that experts say that Bitcoin 'Here to Stay,' But Banks Could Disappear.


"TheStreet: How do you think FinTech will impact the way banks operate?

Frank Schwab: Banks either react on, or they will disappear. Anyway, the consolidation of the banking industry accelerates as the behaviour of people changes. Some banks will benefit from [FinTech], some will be pushed to the back end, and some will disappear."
http://www.thestreet.com/story/13419089/1/bitcoin-here-to-stay-but-banks-could-disappear-says-fintech-expert.html

What's your read on that?


I dont think that will gonna happend very soon. Even in dozens of years banks will not dissapers.  Because banks are controled by gouverments and they are an important fact for the economy of every country

I agree with this. It would be hard to impossible to remove banks and replace it with bitcoins. With the current popularity oof bitcoins, the close to possibility is that banks will try to ingrate bitcoin services than going against it. But who knows? We are just making presumptions here Smiley
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August 13, 2016, 05:16:29 AM
 #2046

One day they will I believe  Grin

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renem
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August 13, 2016, 06:26:07 AM
 #2047

It would never happen.Bitcoin is depending on dollar so it has no chance bitcoin making banks disappear in this days.
yeah you are right mate it woul never happen that bitcoin can make banks disappear because some banks now are in now in the long run when they service is more than amazing if bitcoin can banks disppear then bitcoin will disspear too because bitcoin are depending on the dollar or the real currency of this world Smiley so the answer is no
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August 13, 2016, 08:21:47 AM
 #2048

It seems that experts say that Bitcoin 'Here to Stay,' But Banks Could Disappear.


"TheStreet: How do you think FinTech will impact the way banks operate?

Frank Schwab: Banks either react on, or they will disappear. Anyway, the consolidation of the banking industry accelerates as the behaviour of people changes. Some banks will benefit from [FinTech], some will be pushed to the back end, and some will disappear."
http://www.thestreet.com/story/13419089/1/bitcoin-here-to-stay-but-banks-could-disappear-says-fintech-expert.html

What's your read on that?


I dont think that will gonna happend very soon. Even in dozens of years banks will not dissapers.  Because banks are controled by gouverments and they are an important fact for the economy of every country

I agree with this. It would be hard to impossible to remove banks and replace it with bitcoins. With the current popularity oof bitcoins, the close to possibility is that banks will try to ingrate bitcoin services than going against it. But who knows? We are just making presumptions here Smiley

I think the bank will not accept bitcoin in the payment system. Banks already have a digital system is very much so bitcoin will not be used. If bitcoin used in the bank system would not be good for bitcoin fluctuations will inevitably affect bank. And bitcoin will not make banks disappear. Because the bank is very strong in the community.
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August 13, 2016, 09:00:28 AM
 #2049

Digital currency could possibly one day but not Bitcoin specifically
bitcoin is the best currency that has ever been invented thus it is going to grow a lot and it will possibly replace all the currencies we have right now

 
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August 13, 2016, 09:18:58 AM
 #2050

Bitcoin can not make banks disappear there are lot of reasons for this to not happen. The main is limited supply of Bitcoin and value of it the higher the value is the lesser people (common people) will use it. Bitcoin will exist but we will see no competition between banks and Bitcoin and they will work hand in hands in future. Banks provide a large range of services which Bitcoin can not offer due to its nature and complexity which is advantage for banks.
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August 13, 2016, 09:30:15 AM
 #2051

Bitcoin can not make banks disappear there are lot of reasons for this to not happen. The main is limited supply of Bitcoin and value of it the higher the value is the lesser people (common people) will use it. Bitcoin will exist but we will see no competition between banks and Bitcoin and they will work hand in hands in future. Banks provide a large range of services which Bitcoin can not offer due to its nature and complexity which is advantage for banks.

I believe the banks will adopt the bitcoin if doing business with bitcoin is more profitable. i will also use banks which deal with bitcoin.
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August 13, 2016, 10:50:31 AM
 #2052

Bitcoin can not make banks disappear there are lot of reasons for this to not happen. The main is limited supply of Bitcoin and value of it the higher the value is the lesser people (common people) will use it. Bitcoin will exist but we will see no competition between banks and Bitcoin and they will work hand in hands in future. Banks provide a large range of services which Bitcoin can not offer due to its nature and complexity which is advantage for banks.

Bank and bitcoin have differences since banks are just storage and not a currency itself, Therefore even bitcoin would be developed in the future it wouldnt harm or give any threats to banks since  bitcoin is a digital currency after all if those holders want to store their huge amount of bitcoin maybe someone would create a bitcoin bank. storing all  thier physical coins. Just my opinion.

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August 13, 2016, 11:18:57 AM
 #2053

Bitcoin can not make banks disappear there are lot of reasons for this to not happen. The main is limited supply of Bitcoin and value of it the higher the value is the lesser people (common people) will use it. Bitcoin will exist but we will see no competition between banks and Bitcoin and they will work hand in hands in future. Banks provide a large range of services which Bitcoin can not offer due to its nature and complexity which is advantage for banks.

I believe the banks will adopt the bitcoin if doing business with bitcoin is more profitable. i will also use banks which deal with bitcoin.
Profitable? Until bitcoin becomes stable enough for those banks to think that it's not going to crash on them,  banks will probably not adopt bitcoin at all. Bitcoin's limited supply shouldn't be too big of a problem for quite some time, as there will nearly always be enough bitcoin to go around, and if not, the price will simply rise in response.
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August 13, 2016, 11:22:38 AM
 #2054

Digital currency could possibly one day but not Bitcoin specifically
bitcoin is the best currency that has ever been invented thus it is going to grow a lot and it will possibly replace all the currencies we have right now
digital currency will never disappear why because it's our mark money where we can use it in everyday use where we use it to buy our daily needs and banks are alive because of our digital currency banks now are in the long run where they have lots of investors who uses banks to deposit their money then banks are using the money of investors to invest it in another company , bit coin is the best currency and someday it will grow more that every one use it as a payment
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August 13, 2016, 11:44:15 AM
 #2055

Banks will not disappear because of Bitcoin. Bitcoin has already made its mark in remittance market and in online gambling industry. I think it will be more widely used in both industries of billions dollars continuously. Bitcoin will also transform into digital asset just like gold. Banks will continue with more innovative services as we are about to move into digital era where digital currencies will be used in future. I will say both will play their roles in their are of services.
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August 13, 2016, 02:57:33 PM
 #2056

Banks will not disappear because of Bitcoin. Bitcoin has already made its mark in remittance market and in online gambling industry. I think it will be more widely used in both industries of billions dollars continuously. Bitcoin will also transform into digital asset just like gold. Banks will continue with more innovative services as we are about to move into digital era where digital currencies will be used in future. I will say both will play their roles in their are of services.
Banks will emerge with more innovative services. But bitcoin scares banks and governments. This is because there have been a surge of interest in Bitcoin.
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August 13, 2016, 03:43:52 PM
 #2057

Banks will not disappear because of Bitcoin. Bitcoin has already made its mark in remittance market and in online gambling industry. I think it will be more widely used in both industries of billions dollars continuously. Bitcoin will also transform into digital asset just like gold. Banks will continue with more innovative services as we are about to move into digital era where digital currencies will be used in future. I will say both will play their roles in their are of services.
Banks will emerge with more innovative services. But bitcoin scares banks and governments. This is because there have been a surge of interest in Bitcoin.

Bitcoin is an threat to banks and the governments and that is the reason they are not supporting it and its not easy for bitcoin to replace banks as bitcoin is too small in compare to banking system.
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August 14, 2016, 04:41:57 AM
 #2058

Banks will not disappear because of Bitcoin. Bitcoin has already made its mark in remittance market and in online gambling industry. I think it will be more widely used in both industries of billions dollars continuously. Bitcoin will also transform into digital asset just like gold. Banks will continue with more innovative services as we are about to move into digital era where digital currencies will be used in future. I will say both will play their roles in their are of services.
Banks will emerge with more innovative services. But bitcoin scares banks and governments. This is because there have been a surge of interest in Bitcoin.
I don't think bitcoin scares banks, really.
It however pressures them into the race of whether to invest/integrate bitcoin or not. Right now, banks are only researching and preparing systems that can successfully integrate bitcoin into banks and it's only a matter of time before one bank actually starts accepting bitcoin.
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August 14, 2016, 08:19:58 AM
 #2059

Banks will not disappear because of Bitcoin. Bitcoin has already made its mark in remittance market and in online gambling industry. I think it will be more widely used in both industries of billions dollars continuously. Bitcoin will also transform into digital asset just like gold. Banks will continue with more innovative services as we are about to move into digital era where digital currencies will be used in future. I will say both will play their roles in their are of services.
Banks will emerge with more innovative services. But bitcoin scares banks and governments. This is because there have been a surge of interest in Bitcoin.

Bitcoin is an threat to banks and the governments and that is the reason they are not supporting it and its not easy for bitcoin to replace banks as bitcoin is too small in compare to banking system.

I think bitcoin will not threaten the bank and the government. Bitcoin my opinion only a crypto and I think more appropriate only be used for investment. While the bank is more than saving money, we could borrow and investment as well. Bank urgently needed a stable government to their economies. So the bank is very strong and will not disappear with bitcoin.
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August 14, 2016, 08:22:08 AM
 #2060

I think that will not happen . That is not so good for the people.
I think that more people will use also normal banks. And they dont know how to use Bitcoin.
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