MTBTT
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November 12, 2016, 01:44:55 PM |
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Both the crypto and fiat are different from each other and so will not make much difference but can be helpful to each other in some ways
I think crypto also included so bitcoin currency has the possibility to be able to shift fiat currencies, I think if it happens it will eliminate bank
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whizter
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November 12, 2016, 06:42:23 PM |
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Both the crypto and fiat are different from each other and so will not make much difference but can be helpful to each other in some ways
yes i am also agree with you. i also think that bitcoin is not going to disappear banks, i also think that both will work together and a time will come when banks will accept bitcoin for depositing and withdrawal, and for os many other purposes.
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jangloos
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November 12, 2016, 06:59:38 PM |
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Bitcoin can not make banks disappear because it has not parallel system to replace all the things what banks are doing and services they are providing. Bitcoin has controlled a large portion of banking services mostly online related things already and that is sufficient to keep focus on. They will exist in working together atmosphere continuously.
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papa_snurf
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November 12, 2016, 07:01:14 PM |
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Theres no chance for a digital currency in placing a fiat currency. We all know that fiat is being used by all people all over the world and it already established its name and its uses worldwide and for bitcoin no matter how it flies , it cant still place fiat currency , so this means banks would be still there because fiat do store on banks.
I agree with you, bitcoin and bank is two totally different concept, bitcoin's existence doesn't have anything to deal with banks and the fact that no matter how high bitcoin can grow or how low it can get, banks aren't affected by any of them. Therefore, bitcoin certainly can't replace banks, not to mention make them disappear. Bitcoin makes some bank functions obsolete, but not all of them. From the top of my head: bitcoin cannot do the following: -lending & borrowing -letter of credits -chargebacks
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Raimonn
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November 12, 2016, 07:18:57 PM |
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Bitcoin could replace banks on storing your money, but for now it can make them disapear. But banks will need to improve its services because other fintech companies could replace them on lending, and other services.
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knightkon
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November 12, 2016, 07:31:09 PM |
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Theres no chance for a digital currency in placing a fiat currency. We all know that fiat is being used by all people all over the world and it already established its name and its uses worldwide and for bitcoin no matter how it flies , it cant still place fiat currency , so this means banks would be still there because fiat do store on banks.
I agree with you, bitcoin and bank is two totally different concept, bitcoin's existence doesn't have anything to deal with banks and the fact that no matter how high bitcoin can grow or how low it can get, banks aren't affected by any of them. Therefore, bitcoin certainly can't replace banks, not to mention make them disappear. Bitcoin makes some bank functions obsolete, but not all of them. From the top of my head: bitcoin cannot do the following: -lending & borrowing -letter of credits -chargebacks I would have to disagree with you that you could not make those services disappear when it comes to bitcoin and a bank. There are lenders out there for bitcoin which would cover the lending situation. Letters of credit could be easy if you were storing your BTC in an interest bearing BTC account of sorts, and there is no need for charge backs If you are doing a transaction, make sure you are not getting ripped before you do the transaction. The lack of chargebacks is one of the great things about bitcoin.
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coinsocieties
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November 12, 2016, 07:46:51 PM |
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Bitcoin could replace banks on storing your money, but for now it can make them disapear. But banks will need to improve its services because other fintech companies could replace them on lending, and other services.
I do not want banks to improve their service, I would rather bitcoin take over for them, because they charge so many fees it is unreal. Did you know their lending laws in the USA allow them to loan out 1,000% of what you have in savings with them. So if you deposit 100k into the bank, they will give you 2% if you are lucky and they will be able to loan out 1 Million dollars that the government will back at the average interest rate of 11.3%. So for the $3thousand you make, max, in interest per year, they make an average of 110k!! Anyone else like banks to satay around?
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Selly Arumsari
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November 14, 2016, 03:04:15 PM |
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Banks will change or go under but they won't go away. They will always find some service to provide that someone else will want to buy.
ya , right i agree to you .. sophisticated and popular as any bitcoin , it has not been able to replace bank
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20kevin20
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November 14, 2016, 03:13:48 PM |
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Banks won't disappear unless we'd get past the governments seeking nothing but total control over us. We're using them because it's easier and maybe even a necessity, but if you think about banks throughoutly you'll find out you don't agree with banks either. They are like the evil disguised in angel.
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Zadicar
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DGbet.fun - Crypto Sportsbook
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November 14, 2016, 03:15:42 PM |
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Bitcoin could replace banks on storing your money, but for now it can make them disapear. But banks will need to improve its services because other fintech companies could replace them on lending, and other services.
I do not want banks to improve their service, I would rather bitcoin take over for them, because they charge so many fees it is unreal. Did you know their lending laws in the USA allow them to loan out 1,000% of what you have in savings with them. So if you deposit 100k into the bank, they will give you 2% if you are lucky and they will be able to loan out 1 Million dollars that the government will back at the average interest rate of 11.3%. So for the $3thousand you make, max, in interest per year, they make an average of 110k!! Anyone else like banks to satay around? Well, all of banks not only on US do make this kind of business. All banks do such thing and we cant really do anything about it because we do use banks on storing up our fiat currency. You like it or not they really do benefit from it and also, no matter how bitcoin would fly its wings on the future. It would not replace or make banks disappear because government would not let this things to happen.
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cryptothinker
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November 14, 2016, 03:23:26 PM |
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It's something unlikely to happen in this decade or the next. But at some point, when Bitcoin becomes mainstream, people will lessen dependence on banks.
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altcoinnxt
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November 14, 2016, 03:35:18 PM |
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This won't gonna happen because bitcoin and bank are not related to each other. Bitcoin server purpose of transaction without fees I mean less fees and bank charges heavy transaction fees but generally we use bank to store our money because it centralised and problem with decentralized is that if system get hacked then no one will come to give back my money.
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stomachgrowls
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November 14, 2016, 03:36:29 PM |
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It's something unlikely to happen in this decade or the next. But at some point, when Bitcoin becomes mainstream, people will lessen dependence on banks.
No one really knows on what would happen on the future. Technology is upgrading fast as we all know that and the possibilities that might happen to bitcoin is there . Banks would be still there for sure because fiat wont die so, banks will not die too.
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Aamir1
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November 14, 2016, 03:47:59 PM |
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It's something unlikely to happen in this decade or the next. But at some point, when Bitcoin becomes mainstream, people will lessen dependence on banks.
That is for sure going to happen if bitcoin reaches mainstream as many people already are stopping believing on banks and they are willing to have other ways of storing their money securely so if bitcoin reaches that place where people would believe it totally they would probably turn their faces towards it, but i'm afraid not everyone is going to do that.
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Blitzboy
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November 14, 2016, 03:50:09 PM |
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This won't gonna happen because bitcoin and bank are not related to each other. Bitcoin server purpose of transaction without fees I mean less fees and bank charges heavy transaction fees but generally we use bank to store our money because it centralised and problem with decentralized is that if system get hacked then no one will come to give back my money.
Yeah I have the same thought, banks and bitcoin are two different concept and bitcoin doesn't have anything to deal with bank's existence. And banks are under controlled by the government and they has become a major part in people's life so it's quite an impossible mission to make banks disappear.
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groll
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November 15, 2016, 01:54:46 AM |
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It's something unlikely to happen in this decade or the next. But at some point, when Bitcoin becomes mainstream, people will lessen dependence on banks.
No one really knows on what would happen on the future. Technology is upgrading fast as we all know that and the possibilities that might happen to bitcoin is there . Banks would be still there for sure because fiat wont die so, banks will not die too. Yeah. Banks will continue if fiat will not die. And i think it will not happen since fiat is the main currency that is being used by the majority. There will gonna be some changes in the system of banking but i think banks wont disappear. For me bitcoin cannot make it disappear since bitcoin has its own system and standing in the community so as the banks.
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sabbirshm
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November 15, 2016, 02:33:37 AM |
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I don't think bank will go disappear because bank has it's own important. And many people don't trust bitcoin or don't true security of bitcoin.So, they feel safe to keep money in bank only.Again, Bank can support bitcoin & work together with crypto currency like bitcoin.This can bring more profit to bank.
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diegz
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November 15, 2016, 02:37:01 AM |
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I don't think bank will go disappear because bank has it's own important. And many people don't trust bitcoin or don't true security of bitcoin.So, they feel safe to keep money in bank only.Again, Bank can support bitcoin & work together with crypto currency like bitcoin.This can bring more profit to bank.
No doubt, banks will never disappear because of bitcoin, yeah you are right, the security is better in banks, aside from that your money there if stolen or robbed, it is insured, that means you don't have to worry much about your savings, unlike in bitcoin, if it was stolen, well you have nothing to do but cry and regret that you didn't make your bitcoin secure.
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The_prodigy
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November 15, 2016, 02:44:30 AM |
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off course can bitcoin not make banks disappear what will the world be like if there where no banks. Where do we all need to store our money i dont think it would verry save on earth on that moment.
I thought you are going to answer it YES because you agree with ofcourse then segway lol, anyways bitcoin can't really make banks disappeared even bitcoin will becoming more popular than bank, We are using banks since bitcoin not alive in that year and bank helps us to save and to earn money. People have more faith in banks as they are using it since long time and there are many people who are not aware about bitcoins yet and even if they get aware they will continue to use banks and not bitcoins. That's true more people are using banks than bitcoin so bitcoin will never make cash or bank disappear where we going to save our money in the future? We have big faith in banks where they sending our salary every month in business or anything else and bitcoin don't have banks too.
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LuanX3
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November 15, 2016, 02:52:36 AM |
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This won't gonna happen because bitcoin and bank are not related to each other. Bitcoin server purpose of transaction without fees I mean less fees and bank charges heavy transaction fees but generally we use bank to store our money because it centralised and problem with decentralized is that if system get hacked then no one will come to give back my money.
Yeah I have the same thought, banks and bitcoin are two different concept and bitcoin doesn't have anything to deal with bank's existence. And banks are under controlled by the government and they has become a major part in people's life so it's quite an impossible mission to make banks disappear. True, I think even if Fiat currency disappear and electronic currency or cryptocurrency ruled, banks will not disappear. Banks have a purpose in this world that is why they are still here. Banks pool money and lend it to people who need money. This makes the world go round. This is credit. The concept is to give people more wiggle room to transact.
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