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Doamader
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November 25, 2016, 09:32:03 PM |
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Never! banks will be there as long as governments are there. both go together.
Certainly, as long as governments exist in countries, there is no chance for bitcoin to replace banks as they wont let it happen, they wont let the economy of their country to be out of their control which means they wont have any control on their countrymen. because if thus how they can make corruption if bitcoin will take the place and take over as a local currency for sure government will not allowed that they want to have everything in their hands this thing will not happen chances is really small for bitcoin to let the bank disappear. but i think bitcoin can make banks disappear when time come, presently as bitcoin is not so much popular and majority of the people are not using it therefore they are using their old banking system, but the trend of the new generation is totally changing from time to time as the new generation is interested in online business therefore they are giving more preference to bitcoin and making it strong from time to time. Soo you would trust your bitcoins into a loan over 20 years or for 40 years? Because banks does provide this service, all they use is your salary and property as colateral, they make the payment for you. Do you believe i or someone else will pay you a house for you while you repay me for 40 years, this is if you think into repay me, the result would be i will get a house and you will loose your bitcoins and house at same time, bitcoin cant do this, atleast not now, it must be legalized and then it can be traded and used maybe that way. |
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deadpoolx
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November 25, 2016, 09:57:03 PM |
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I dont think bank can disappear. We still need each country to have their own central bank to provide what they own country needs. Different country have different needs and it is very hard to use one btc is classify everything. So the bank will still have its purpose but with more help from btc technology.
Bitcoin is in fact very useful, but it does not make much sense to say that it will make banks disappear. Certainly when more people adapt to Bitcoin and when more merchants start accepting it as payment form, many users will begin to migrate to Bitcoin, but it's still early for this. |
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Capradina
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November 25, 2016, 10:24:12 PM |
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I dont think bank can disappear. We still need each country to have their own central bank to provide what they own country needs. Different country have different needs and it is very hard to use one btc is classify everything. So the bank will still have its purpose but with more help from btc technology.
Bitcoin is in fact very useful, but it does not make much sense to say that it will make banks disappear. Certainly when more people adapt to Bitcoin and when more merchants start accepting it as payment form, many users will begin to migrate to Bitcoin, but it's still early for this. Yeah, that thought is absolutely correct. The Bank is something every Government in power, without the bank then all of Government is going to be devastated and will probably happen something problem against the rotation of the State money. so it's not something all of the right things and I'm sure not going to be done well,. Although bitcoin is going to be a very large currency but without the Bank then I'm sure bitcoin will not be useful. because in addition to the bank's storage is a tool for payment |
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Jasad
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Activity: 1414
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= jasad =
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November 25, 2016, 10:33:01 PM |
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I dont think bank can disappear. We still need each country to have their own central bank to provide what they own country needs. Different country have different needs and it is very hard to use one btc is classify everything. So the bank will still have its purpose but with more help from btc technology.
Bitcoin is in fact very useful, but it does not make much sense to say that it will make banks disappear. Certainly when more people adapt to Bitcoin and when more merchants start accepting it as payment form, many users will begin to migrate to Bitcoin, but it's still early for this. people still feel strange about bitcoin , make hard to adopted , so how can bitcoin make banks dissapear while there no mass adoption? then think we must wait until mass adoption applied , and let's see if banks really dissapeared when people prefer to use bitcoin. |
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FLoving
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November 25, 2016, 11:44:07 PM |
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Bank is much more stronger than Bitcoin and Banks is now more popular and uses by people to save there money from business or any money than came from good work and bitcoin can really bank disppear then what will be the next bank for the world ? It is bitcoin wallet? Lmao bitcoin is not yet that popular so far.
Yes the banks are more stronger and more famous but it does not mean that any other thing like bitcoin can be more stronger and famous in the future but still we cannot say that it will disappear banks because banks do not play only a single role which bitcoin is playing but banks have a number of other roles also which will make them to exist in our environment till the end. |
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krishna1
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November 25, 2016, 11:47:45 PM |
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the probabilty is rocket high to the moon, it is sutable in every point to be a better money system then banks. hence bank is mot a money system itself it just help us to cointrol the koney distribution or manages it into the ecosystem. these are same for the whole world
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Roboabhishek
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November 26, 2016, 06:33:04 AM |
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Sometimes i feel why do people make useless threads  How can OP think that a virtual currency which don't need banks for transaction will be disappeared .. Bitcoin can't be hacked it can't be stolen easily then why he thinks it's possible ? |
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clickerz
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November 26, 2016, 06:38:21 AM |
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I dont think bank can disappear. We still need each country to have their own central bank to provide what they own country needs. Different country have different needs and it is very hard to use one btc is classify everything. So the bank will still have its purpose but with more help from btc technology.
Bitcoin is in fact very useful, but it does not make much sense to say that it will make banks disappear. Certainly when more people adapt to Bitcoin and when more merchants start accepting it as payment form, many users will begin to migrate to Bitcoin, but it's still early for this. Indeed, and bank will remain together with bitcoin working hand in hand. We need both and both has a different dominion. Bank for our money for day to day transaction offline while bitcoin is mostly for online transaction. Though tehre re some overlapping services like you can buy with bitcoin offline or transact using bank issed online but the mere fact that bak is here to stay and establish is hard to disregard. |
Open for Campaigns
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Xenophoto
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November 26, 2016, 08:48:57 AM |
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Sometimes i feel why do people make useless threads How can OP think that a virtual currency which don't need banks for transaction will be disappeared .. Bitcoin can't be hacked it can't be stolen easily then why he thinks it's possible ? Maybe because OP thinks that bitcoin has a really great potential which is enough to make a revolution. A revolution that would make people switch from using fiat/bank into using bitcoins. Once people realize the advantages of using bitcoin, they might forget using banks. Banks are just businesses that needs users in order to continue running. Once people are not using banks anymore, it will eventually shut down. I guess that's the reason why OP asked this, he wants to see how realistic this idea actually is. |
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Przemax
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November 26, 2016, 08:59:58 AM |
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My opinion on the matter is quite simple. Only the banks can make banks disappear by acting stupid, inconsistent and without integrity. Sadly the lies are so big that keeping their integrity can be quite difficult for them.
But disappearance of banking system aka debt system is another story. It can survive even if all the banks wouldnt. Usury system wont disappear if there wont be incentive not to borrow on usury terms. Bitcoin have nothing to do with that.
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staff_1307
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November 26, 2016, 04:04:17 PM |
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Bitkoin undoubtedly a very strong currency, but it will not make banks disappeared.
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RoomBot
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November 26, 2016, 10:26:40 PM |
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Can Bitcoin make Banks disappear? No, but Bitcoin banks (exchanges) can make Bitcoin disappear~!  NextBank Mt. Gox PayBase Vault of Satoshi Cryptsy Coin.mx 3 years ago, half of the BTC exchanges failed & took our BTC with them! http://www.wired.co.uk/article/large-bitcoin-exchanges-attacks |
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Invulner
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Invulner
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November 26, 2016, 11:32:31 PM |
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Lol!!! Well I'm pretty sure that the OP is referring to the conventional "commercial" banks here, aka Bank of America, etc. etc. Also may be referring to central banks, like the federal reserve and stuff like that. I believe bitcoin technology can definitely make the middleman disappear. They are not needed in a decentralised economy. |
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RoomBot
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November 27, 2016, 12:09:47 AM |
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Can Bitcoin make Banks disappear? This is just a rhetorical question that we all know the answer to....so why not have a bit of fun? Besides, I answered the question as posed. |
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xypos
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November 27, 2016, 12:25:17 AM |
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The answer is yes in my opinion, because bitcoin in itself is a decentralised banking system. It gets rid of the commercial banks altogether. With bitcoin you don't need someone to operate a scammy fractional reserve  No worries about bank runs anymore. |
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ged00u
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November 27, 2016, 01:57:46 AM |
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Bitkoin undoubtedly a very strong currency, but it will not make banks disappeared.
Yeah I agree with you, bitcoin really does have potential and may have a very high stand in the future but it can't take over banks. I mean it's a cryptocurrency so how can it make banks, which only deal with fiat money, disappear? And I really don't think that this idea is quite practical because fiat money still plays a huge part in our life. |
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mirakal
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November 27, 2016, 05:50:08 AM |
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Bitkoin undoubtedly a very strong currency, but it will not make banks disappeared.
Yeah I agree with you, bitcoin really does have potential and may have a very high stand in the future but it can't take over banks. I mean it's a cryptocurrency so how can it make banks, which only deal with fiat money, disappear? And I really don't think that this idea is quite practical because fiat money still plays a huge part in our life. Banks are created by the government and they do the job of producing paper money and monitor our transactions, though we do not like to be monitored but that's how the system work in bank, in bitcoin we have freedom but it's not controlled by the government so we will be having a hard time to eliminate bank. We have no power to do that. |
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Przemax
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November 27, 2016, 07:32:56 AM |
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Bitkoin undoubtedly a very strong currency, but it will not make banks disappeared.
Yeah I agree with you, bitcoin really does have potential and may have a very high stand in the future but it can't take over banks. I mean it's a cryptocurrency so how can it make banks, which only deal with fiat money, disappear? And I really don't think that this idea is quite practical because fiat money still plays a huge part in our life. Banks are created by the government and they do the job of producing paper money and monitor our transactions, though we do not like to be monitored but that's how the system work in bank, in bitcoin we have freedom but it's not controlled by the government so we will be having a hard time to eliminate bank. We have no power to do that. No no and no. Banks are not created by governments. If its the case as modern history shows us - its banks that "create" aka takes control of the government. If you think banks are created to surveilance people then, why does banks keeps the information of their clients in strict secrecy from government in most cases? We have all powers to destroy banks. Banks are extremily fragile institution. Its just that people are stupid and instead of "occupy wallstreet" make that fragile structure shaken to the core. I lost all hope in humanity sadly. |
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robiulawal
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November 27, 2016, 07:38:24 AM |
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I don't think that bank will be disappeared..
There is long way to go for bitcoin.
Bank rules will never end until bitcoin come to life or it become accepted by all over the world.
Just remember that bitcoin is now only a child
Its growing day by day.
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avikz
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November 27, 2016, 11:02:41 AM |
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My answer is no. Bitcoin can be a revolutionary electronic currency but it doesn't have the power to replace the traditional banking system. The reason is simple, bank is a government backed system. Also the Fiat currency is backed by government.
On the other hand bitcoin is backed by people's trust and it doesn't have any Central agency to support so the blockchain system can make an attractive investment route, but replacing banking system is never going to be happen.
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