Can Bitcoin make Banks disappear?

[btcdiggingmaster]

It will never happen because banks are mostly showing their interest towards bitcoin, bitcoin is just digital currency where we can transfer to any parts of country with low fee. But many countries banks want to implement the bitcoin transaction through banks.

[1Referee]

It will never happen because banks are mostly showing their interest towards bitcoin, bitcoin is just digital currency where we can transfer to any parts of country with low fee. But many countries banks want to implement the bitcoin transaction through banks.

I assume you meant to say that banks are showing their interest in the blockchain as technology, and not Bitcoin as coin, right? If so, then yes. Banks, governments, businesses, etc, see the added value of having a similar system as the blockchain technology to power their entire way of doing business and handling things. But the main thing here is that they are just looking to create their own private version of the blockchain. It will be made in the way that they remain in full control over every aspect, as they don't want you to enjoy any level of freedom.

[Xester]

It will never happen because banks are mostly showing their interest towards bitcoin, bitcoin is just digital currency where we can transfer to any parts of country with low fee. But many countries banks want to implement the bitcoin transaction through banks.

I assume you meant to say that banks are showing their interest in the blockchain as technology, and not Bitcoin as coin, right? If so, then yes. Banks, governments, businesses, etc, see the added value of having a similar system as the blockchain technology to power their entire way of doing business and handling things. But the main thing here is that they are just looking to create their own private version of the blockchain. It will be made in the way that they remain in full control over every aspect, as they don't want you to enjoy any level of freedom.

This is the main reason why banks will not disappear but instead of banks disappearing it is bitcoin that is in danger. Chinas prototype digital currency will be released by Chinas Central bank this September of 2017. This is a concrete example that banks are turning into digital currency and bitcoin isnt winning the revolution. With this issue possibly later this year my expected price increase on bitcoin will only be a possibility and not a reality due to the release of China's Digital Money.

[mastica]

Banks interest and big corporations saw at blockchain the possibility to save milions with the normal transactions they do make all days, soo they can save a huge ammount and raise their profit, thats their interest. Banks does provide a strong service and they risk their clients money with lending, but they do minimize the risks doing such lendings, something that for bitcoin gets similiar service would need a trusted escrow and would have to expose all credentials, something i doubt any bitcoiner wanna to be reall exposed.

[lukmandog]

Banks interest and big corporations saw at blockchain the possibility to save milions with the normal transactions they do make all days, soo they can save a huge ammount and raise their profit, thats their interest. Banks does provide a strong service and they risk their clients money with lending, but they do minimize the risks doing such lendings, something that for bitcoin gets similiar service would need a trusted escrow and would have to expose all credentials, something i doubt any bitcoiner wanna to be reall exposed.

Maybe can happen in future when people understand concept bitcoin, then they do not need third party to deal with each other.

[coszy]

You can answer immediately and clearly the question of the strength of the banking system against bitcoin. That never happens. Nobody will destroy the banking sector. Rather bitcoin will have many enemies than the opposite.

[Winter1986]

Banks interest and big corporations saw at blockchain the possibility to save milions with the normal transactions they do make all days, soo they can save a huge ammount and raise their profit, thats their interest. Banks does provide a strong service and they risk their clients money with lending, but they do minimize the risks doing such lendings, something that for bitcoin gets similiar service would need a trusted escrow and would have to expose all credentials, something i doubt any bitcoiner wanna to be reall exposed.

Maybe can happen in future when people understand concept bitcoin, then they do not need third party to deal with each other.

Even in the future, can not be such. Banks is a confidence in the power of the people under their control. A bitcoin this will prevent.

[lilit]

Banks interest and big corporations saw at blockchain the possibility to save milions with the normal transactions they do make all days, soo they can save a huge ammount and raise their profit, thats their interest. Banks does provide a strong service and they risk their clients money with lending, but they do minimize the risks doing such lendings, something that for bitcoin gets similiar service would need a trusted escrow and would have to expose all credentials, something i doubt any bitcoiner wanna to be reall exposed.

That's a good point. I also believe that banks and corporations are not stitching will take their warm places or close to the people the opportunity to earn money.

[Superzpay]

Banks interest and big corporations saw at blockchain the possibility to save milions with the normal transactions they do make all days, soo they can save a huge ammount and raise their profit, thats their interest. Banks does provide a strong service and they risk their clients money with lending, but they do minimize the risks doing such lendings, something that for bitcoin gets similiar service would need a trusted escrow and would have to expose all credentials, something i doubt any bitcoiner wanna to be reall exposed.

That's a good point. I also believe that banks and corporations are not stitching will take their warm places or close to the people the opportunity to earn money.

The reason that banks do not accept bitcoin is the governments of them as the banks and their rules are bounded with governments of the states so up to the time when governments do not allow them for bitcoin adoption they are unable to adopt bitcoin for their uses.

[wutard]

Banks interest and big corporations saw at blockchain the possibility to save milions with the normal transactions they do make all days, soo they can save a huge ammount and raise their profit, thats their interest. Banks does provide a strong service and they risk their clients money with lending, but they do minimize the risks doing such lendings, something that for bitcoin gets similiar service would need a trusted escrow and would have to expose all credentials, something i doubt any bitcoiner wanna to be reall exposed.

That's a good point. I also believe that banks and corporations are not stitching will take their warm places or close to the people the opportunity to earn money.

The reason that banks do not accept bitcoin is the governments of them as the banks and their rules are bounded with governments of the states so up to the time when governments do not allow them for bitcoin adoption they are unable to adopt bitcoin for their uses.

There are instances when the state is not the prize officially bitcoin currency, but the banks carried out operations with cryptocurrency. I think that this is also the fact of fraud and the fact that hide money from the state by the bank itself.

[onelove2111]

Banks interest and big corporations saw at blockchain the possibility to save milions with the normal transactions they do make all days, soo they can save a huge ammount and raise their profit, thats their interest. Banks does provide a strong service and they risk their clients money with lending, but they do minimize the risks doing such lendings, something that for bitcoin gets similiar service would need a trusted escrow and would have to expose all credentials, something i doubt any bitcoiner wanna to be reall exposed.

I do not know why the banks and other financial institutions are adopting blockchain, but it is certainly not because of good intentions. I think that this point is the study of how the bitcoin and to resist cryptocurrency and threats from her the entire banking system.

[mornabo]

You can answer immediately and clearly the question of the strength of the banking system against bitcoin. That never happens. Nobody will destroy the banking sector. Rather bitcoin will have many enemies than the opposite.

Bitcoin will not even has the priority of destroying the banking sector. It just wants to help us to have good daily transactions where we have freedom from taxes. And for sure that it will not going to happen because the banks are going to adopt bitcoin instead because they can see it as a threat and adopting it will make their services better.

True, I think even though bitcoin became famous later. it will not shift or make a bank be disappearing, bitcoin only provide diversity for currencies in the world

[mrbigmugs]

No I do think this can happen in my opinion this is highly unlikely but we will see what is gonna happen of course because the fact is that its not to predict.
The banks are controlling the world and they have a lot of power that is why I do not think the bitcoin do it.

to me i think bitcoin is not here to make banks disappear. banks depends on fiat and bitcion cannot make fiat disappear, therefore banks will stay tell fiat exist. and to me i think there is still more time so that bitcoin become a regular currency  and all the people of the world start using bitcoin as fiat currency.

[Positid]

No I do think this can happen in my opinion this is highly unlikely but we will see what is gonna happen of course because the fact is that its not to predict.
The banks are controlling the world and they have a lot of power that is why I do not think the bitcoin do it.

to me i think bitcoin is not here to make banks disappear.

It's true, and even if we think of that, it will not happen as we do not have the power to do it. Bank will be superior than bitcoin because the government supports them and we are not.

[delliaerd]

You can answer immediately and clearly the question of the strength of the banking system against bitcoin. That never happens. Nobody will destroy the banking sector. Rather bitcoin will have many enemies than the opposite.

Bitcoin will not even has the priority of destroying the banking sector. It just wants to help us to have good daily transactions where we have freedom from taxes. And for sure that it will not going to happen because the banks are going to adopt bitcoin instead because they can see it as a threat and adopting it will make their services better.

I am sorry but I have different opinion with you two.  I mean is if bank is used for save our money, if we do not use fiat anymore bank will become unused. I read so many news about some countries fiat is become worthless becouse the price is fall against USD. How if it is happen to our fiat, we have to safe our wealth by change it into something that no correlation with global economy. Thats my opinion.

[batang_bitcoin]

You can answer immediately and clearly the question of the strength of the banking system against bitcoin. That never happens. Nobody will destroy the banking sector. Rather bitcoin will have many enemies than the opposite.

Bitcoin will not even has the priority of destroying the banking sector. It just wants to help us to have good daily transactions where we have freedom from taxes. And for sure that it will not going to happen because the banks are going to adopt bitcoin instead because they can see it as a threat and adopting it will make their services better.

I am sorry but I have different opinion with you two.  I mean is if bank is used for save our money, if we do not use fiat anymore bank will become unused. I read so many news about some countries fiat is become worthless becouse the price is fall against USD. How if it is happen to our fiat, we have to safe our wealth by change it into something that no correlation with global economy. Thats my opinion.

Hmmm, even though the fiat of an individual country is falling still their fiat will not be totally useless at all. It can still be used but its value is going to be affected not the whole fiat system of a country. And banks are not just for saving our fiat, there are a lot of things and services that banks can offer especially in investments.

[Digong30]

I don't think that bitcoin has the potential to make banks disappear or even make banks useless . the government especially those elites wouldn't want it to happen even if they already have the control in bitcoin .

[Finestream]

I don't think that bitcoin has the potential to make banks disappear or even make banks useless . the government especially those elites wouldn't want it to happen even if they already have the control in bitcoin .

It's not even something to debate as we are only hoping for the impossible to happen. Banks produce fiat and it's like saying bitcoin will replace fiat. Let's be practical here I guess, bitcoin is new and still on it's early stage and there's so much to prove in the future.

The world is control by the government and no government would allow a decentralized system where they losses their power.

[pinoycash]

I don't think that bitcoin has the potential to make banks disappear or even make banks useless . the government especially those elites wouldn't want it to happen even if they already have the control in bitcoin .

Yes, banks is the  economic and monetary lifeline of every country and it cant be replaced by BTC, plus how can we encash our BTC if the banks disappear.

[Harlot]

I don't think that bitcoin has the potential to make banks disappear or even make banks useless . the government especially those elites wouldn't want it to happen even if they already have the control in bitcoin .

Yes, banks is the  economic and monetary lifeline of every country and it cant be replaced by BTC, plus how can we encash our BTC if the banks disappear.

Yup in this world we live in Cash is still king. Bitcoin without banks or even Fiat can't act on his own. Bitcoin will have no value on the majority of people who don't know it yet. Even in the near future I can't see Bitcoin overtaking any Fiat currency. Because in order for you to use Bitcoin you need to have internet and not all people have internet.