Vaskiy
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Tontogether | Save Smart & Win Big
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March 05, 2017, 10:54:06 PM |
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Yes with bitcoins into existence it might happen that banks might disappear ,but it is very unlikely to happen because governemnt does not want to lose control over their people .,so in conclusion it might not disappear .
Banks along with fiat coins aren't very likely to be on the verge of extinction for any reason. Although it seems to be that bitcoin is growing rapidly and dramatically and taking over the place of fiat currencies, it doesn't have the ability to make banks die out. Banks still play a major part in our lives and they still belong to the governments, so as long as the governments are still here, banks won't go anywhere. Besides it is not like that was the stated purpose for bitcoin or any crypto currency, the purpose of bitcoin is to give to us an alternative to traditional banking and the economic system and it has done so already, we only need more adoption so bitcoin can be used in our everyday lives and we will be set. People who have started to use bitcoins will prefer to stay away from traditional banking system as with bitcoin they have their own bank in the form of bitcoin wallet and where they hold total control on their funds so in that case they will stop using banks but those who are not aware about bitcoins yet will continue to use banks as they don't have any other alternative option at a moment. Though people start using bitcoin wallets much more than traditional banking , it won't disappear. Bitcoin has grown with potential but it has not reached full potential to replace the fiat system. It is possible only if banks adopt bitcoin, which is not possible with banks at the moment. Because everything is based on technology and worked by IT vendors and fintech firms. This won't easily work with banks in a short. |
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"Governments are good at cutting off the heads of a centrally
controlled
networks like Napster, but pure P2P networks like Gnutella and Tor seem
to be holding their own." -- Satoshi
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patrickmh
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March 05, 2017, 11:02:26 PM |
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Yes with bitcoins into existence it might happen that banks might disappear ,but it is very unlikely to happen because governemnt does not want to lose control over their people .,so in conclusion it might not disappear .
Banks along with fiat coins aren't very likely to be on the verge of extinction for any reason. Although it seems to be that bitcoin is growing rapidly and dramatically and taking over the place of fiat currencies, it doesn't have the ability to make banks die out. Banks still play a major part in our lives and they still belong to the governments, so as long as the governments are still here, banks won't go anywhere. Besides it is not like that was the stated purpose for bitcoin or any crypto currency, the purpose of bitcoin is to give to us an alternative to traditional banking and the economic system and it has done so already, we only need more adoption so bitcoin can be used in our everyday lives and we will be set. People who have started to use bitcoins will prefer to stay away from traditional banking system as with bitcoin they have their own bank in the form of bitcoin wallet and where they hold total control on their funds so in that case they will stop using banks but those who are not aware about bitcoins yet will continue to use banks as they don't have any other alternative option at a moment. Though people start using bitcoin wallets much more than traditional banking , it won't disappear. Bitcoin has grown with potential but it has not reached full potential to replace the fiat system. It is possible only if banks adopt bitcoin, which is not possible with banks at the moment. Because everything is based on technology and worked by IT vendors and fintech firms. This won't easily work with banks in a short. Yup bitcoin is not yet that stronger that it has power to make banks disappear as banks have support from the Government and the society and people have more faith in banks as if there is any issue with their funds then they know that banks will help them in recovering their money and even if more people will start using bitcoins in future it will be just an alternative option and won't be a primary choice. |
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Rinder
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March 05, 2017, 11:20:15 PM |
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Bitcoin in the future will have bigger fees, and i dont know how far it will keep going with that said, currently the 24/7 avaible transactions ias a good advantage over banks, with lowe fees, but those can change and bitcoin may loose some interest at crypto currencie. Banks should increase their fees as well but they remains as the most trusted place to save our money.
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BitHodler
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March 05, 2017, 11:27:51 PM |
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Bitcoin in the future will have bigger fees, and i dont know how far it will keep going with that said, currently the 24/7 avaible transactions ias a good advantage over banks, with lowe fees, but those can change and bitcoin may loose some interest at crypto currencie. Banks should increase their fees as well but they remains as the most trusted place to save our money.
It all depends on the implementation that Bitcoin will be running with at that time. Certain proposals will give the benefit to the user in form of very low transaction fees, but that won't be a welcome change for pools obviously. Mining operations will not run their hardware for peanuts as they will more and more depend on income they generate from transaction fees. I think a mid way solution would be best for user and miners. |
BSV is not the real Bcash. Bcash is the real Bcash.
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NEWGOODOUBLE
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March 05, 2017, 11:52:56 PM |
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Bitcoin in the future will have bigger fees, and i dont know how far it will keep going with that said, currently the 24/7 avaible transactions ias a good advantage over banks, with lowe fees, but those can change and bitcoin may loose some interest at crypto currencie. Banks should increase their fees as well but they remains as the most trusted place to save our money.
but the bank has many facilities like ATM, internet banking, SMS banking, and it can be accessed 24 hours a day. I think it would be difficult to make bank bitcoin be lost. because the banks themselves are also very sophisticated |
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citywise2
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March 06, 2017, 12:36:31 AM |
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Surely bitcoin actually make some of the banks mean less . But what may save some of this banks is if they went into restructuring back. I am not sure bitcoin will give them such opportune.
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Finestream
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March 06, 2017, 02:44:59 AM |
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Surely bitcoin actually make some of the banks mean less . But what may save some of this banks is if they went into restructuring back. I am not sure bitcoin will give them such opportune.
What do you mean by means less? FYI, we are still not there, bitcoin is not widely accepted by the masses and although we see the price is rising now but that is nothing compared to how stable bank is. Let's be realistic for once, bank will always be very dominant as they produce fiat and fiat is bigger than bitcoin in terms of adoption. |
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Babayega31
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March 06, 2017, 03:28:01 AM |
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Bitcoin won't make banks disappear because its so important to have that for fiat cash money, without that there is no secure storage for savings came from business earnings of people who trusted money for them. We can use banks to exchange our bitcoin to them and also we have the options of cash out money from banking transactions. It's really important of bitcoin to have banks and no reasons to make it disappear.
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Dimelord
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March 06, 2017, 04:54:46 AM |
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Banks would still exist.But bitcoin would considerably decrease the number of people who use banks.Banks would loose large revenues which they got from transactions in future.It will not be a surprise to see if banks are only used to borrow loans.Thats why all bankers fear Bitcoin.
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betlord90
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March 06, 2017, 06:23:32 AM |
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I think its impossible to make banks dissapear. Minimize i guess is considerable. But I guess time will come that bitcoin will surmount banks. Banks will i guess loose people who will invest and transact with them.
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btcdiggingmaster
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March 06, 2017, 06:43:39 AM |
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Banks are the backbones to the human being when it comes to security, many people are daily transacting their amount easily through banks. Not only for transacting, even we can save the huge amount of money in banks without any problems as long as we pay taxes on it. I hope it is not possible for bitcoin to disappear the banks because banks are well established in people's hearts.
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Text
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March 06, 2017, 01:19:12 PM |
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Banks are already part of bitcoin. I don't see anything like beating the fiat money by BTC because that is not its purpose. Bitcoins with banks is working properly so there is nothing wrong. Their connections can create a better service and features to continue the development.
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ashapasa
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March 06, 2017, 01:30:43 PM |
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I think its impossible to make banks dissapear. Minimize i guess is considerable. But I guess time will come that bitcoin will surmount banks. Banks will i guess loose people who will invest and transact with them.
No that is never possible there will be few bunch of people who will always prefer to use banks for saving their money and not bitcoins as they have more faith in it and they are using it since long time as the older generation will never prefer to complicate things by getting into bitcoins and will continue to use traditional banking system. |
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jovs
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March 06, 2017, 02:24:58 PM |
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I think banks will not disappear.
They can change or can work with bitcoins.
but they will never disappear as fiat will never disappear too.
If fiat comes to the point that has no use already,
then thats the only time that banks can disappear.
But as i have said, its impossible.
I also think that bank will not disappear but there is a chance the people will choose bitcoin rather than bank. Why? Because in bitcoin there is no tax and you are the one who can manage your money on a wallet. Here in my country there is wallet where you can manage and make most out of bitcoin. You can buyload , paybills or even convert with ease. Not like in banking you need to go to bank everytime you will do transaction . Maybe in the near future bitcoin will be populat and more people will choose bitcoin rather than banking. |
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mega
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March 06, 2017, 02:29:17 PM |
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I think banks will not disappear.
They can change or can work with bitcoins.
but they will never disappear as fiat will never disappear too.
If fiat comes to the point that has no use already,
then thats the only time that banks can disappear.
But as i have said, its impossible.
I also think that bank will not disappear but there is a chance the people will choose bitcoin rather than bank. Why? Because in bitcoin there is no tax and you are the one who can manage your money on a wallet. Here in my country there is wallet where you can manage and make most out of bitcoin. You can buyload , paybills or even convert with ease. Not like in banking you need to go to bank everytime you will do transaction . Maybe in the near future bitcoin will be populat and more people will choose bitcoin rather than banking. Banks will never disappear but after knowing bitcoins people will start using bitcoins more and will reduce usage of banks but they will not totally stop using banks as they also need for their day to day transactions so I don't think that banks will completely disappear in future. |
Got my account back! It was hacked. Sorry about it :|
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CEJ
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March 06, 2017, 03:07:45 PM |
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Yeh it might be a possible caus if bitcome gain more popularity than liquid cash or any other kind of e-cash transfer..but this will not happen in near future..it may take long time for bitcom to gain popularity..
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strunberg
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March 06, 2017, 03:47:35 PM |
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Banks will always survive even if bitcoin becomes more popular in future as Banks have support from the Government and banks may start using bitcoin technology in future but they will never shake hands with bitcoins as it is a threat to banking system.
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LeGaulois
Copper Member
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Activity: 2870
Merit: 4095
Top Crypto Casino
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March 06, 2017, 03:57:35 PM |
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Banks will always survive even if bitcoin becomes more popular in future as Banks have support from the Government and banks may start using bitcoin technology in future but they will never shake hands with bitcoins as it is a threat to banking system.
Banks don't see Bitcoin as a threat to them. If it was a threat they could simply start to accept bitcoin and jump on the train, or buy/create startups related to bitcoin and use them as an asset... They see it as an opportunity to use a new technology and help them to adapt, wich can help them in a lot of different ways. That's why lot of them are spending a lot of bags of cash to study the blockchain and bitcoin |
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hurain
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March 06, 2017, 11:06:05 PM |
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Yeh it might be a possible caus if bitcome gain more popularity than liquid cash or any other kind of e-cash transfer..but this will not happen in near future..it may take long time for bitcom to gain popularity..
yes it might be possible but not in present time, i think still it will take a lot of time, because still we are totally depending on banks in our daily life. |
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E-shipper
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March 06, 2017, 11:23:39 PM |
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Banks will always survive even if bitcoin becomes more popular in future as Banks have support from the Government and banks may start using bitcoin technology in future but they will never shake hands with bitcoins as it is a threat to banking system.
Banks don't see Bitcoin as a threat to them. If it was a threat they could simply start to accept bitcoin and jump on the train, or buy/create startups related to bitcoin and use them as an asset... They see it as an opportunity to use a new technology and help them to adapt, wich can help them in a lot of different ways. That's why lot of them are spending a lot of bags of cash to study the blockchain and bitcoin It is because of the threat and leadership positions of bitcoin that the banking system began to study and even test the blockchain on its capacities. Some banks have already successfully implemented this technology. Therefore, it becomes clear that banks will not surrender their positions to bitcoin. |
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