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Author Topic: Can Bitcoin make Banks disappear?  (Read 426677 times)
HarringtonStark
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May 08, 2017, 11:36:19 PM
 #4201

World and technology are very advanced right now. However, that does not mean the bank will disappear, instead the bank will innovate with this progress. Banks are needed by every country and its citizens.
if we think that bitcoin is also play a role of bank , in bank your money in control of your bank or country government and bitcoin is in our own control no one can stole or hold our balance and bitcoin fees is very much low than bank i hope one day bitcoin will be disappear the bank in the future. 

Aren't bitcoin wallets banks themselves? You do not need a big bank if you have bitcoin wallet that is not being controlled by anyone but you!

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May 08, 2017, 11:46:56 PM
 #4202

World and technology are very advanced right now. However, that does not mean the bank will disappear, instead the bank will innovate with this progress. Banks are needed by every country and its citizens.
if we think that bitcoin is also play a role of bank , in bank your money in control of your bank or country government and bitcoin is in our own control no one can stole or hold our balance and bitcoin fees is very much low than bank i hope one day bitcoin will be disappear the bank in the future. 
you are right that bitcoin is already play a role of bank bitcoin bitcoin system is much more stable than bank and bitcoin has no extra charges and there is not tax apply on bitcoin so i hope bitcoin will be get more popularity and stronger in the future.
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May 09, 2017, 12:00:27 AM
 #4203

World and technology are very advanced right now. However, that does not mean the bank will disappear, instead the bank will innovate with this progress. Banks are needed by every country and its citizens.
if we think that bitcoin is also play a role of bank , in bank your money in control of your bank or country government and bitcoin is in our own control no one can stole or hold our balance and bitcoin fees is very much low than bank i hope one day bitcoin will be disappear the bank in the future. 
you are right that bitcoin is already play a role of bank bitcoin bitcoin system is much more stable than bank and bitcoin has no extra charges and there is not tax apply on bitcoin so i hope bitcoin will be get more popularity and stronger in the future.

bitcoin has already have an ATM machine just like ATM of a bank. I found one in UK my friend told me that they can transact pound to bitcoin and bitcoin to pound. The bank may not disappear they will only adopt bitcoin because bitcoin is only digital currency and different to local paper money.


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May 09, 2017, 01:03:31 AM
 #4204

World and technology are very advanced right now. However, that does not mean the bank will disappear, instead the bank will innovate with this progress. Banks are needed by every country and its citizens.
if we think that bitcoin is also play a role of bank , in bank your money in control of your bank or country government and bitcoin is in our own control no one can stole or hold our balance and bitcoin fees is very much low than bank i hope one day bitcoin will be disappear the bank in the future. 
you are right that bitcoin is already play a role of bank bitcoin bitcoin system is much more stable than bank and bitcoin has no extra charges and there is not tax apply on bitcoin so i hope bitcoin will be get more popularity and stronger in the future.

bitcoin has already have an ATM machine just like ATM of a bank. I found one in UK my friend told me that they can transact pound to bitcoin and bitcoin to pound. The bank may not disappear they will only adopt bitcoin because bitcoin is only digital currency and different to local paper money.

That is correct. I also believe that bank will just adopt bitcoin and not really disappear - that thing is close to impossible and if it really happens, maybe 50-100 years from now, I don't know
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May 09, 2017, 01:18:12 AM
 #4205

World and technology are very advanced right now. However, that does not mean the bank will disappear, instead the bank will innovate with this progress. Banks are needed by every country and its citizens.
if we think that bitcoin is also play a role of bank , in bank your money in control of your bank or country government and bitcoin is in our own control no one can stole or hold our balance and bitcoin fees is very much low than bank i hope one day bitcoin will be disappear the bank in the future. 
you are right that bitcoin is already play a role of bank bitcoin bitcoin system is much more stable than bank and bitcoin has no extra charges and there is not tax apply on bitcoin so i hope bitcoin will be get more popularity and stronger in the future.

bitcoin has already have an ATM machine just like ATM of a bank. I found one in UK my friend told me that they can transact pound to bitcoin and bitcoin to pound. The bank may not disappear they will only adopt bitcoin because bitcoin is only digital currency and different to local paper money.

That is correct. I also believe that bank will just adopt bitcoin and not really disappear - that thing is close to impossible and if it really happens, maybe 50-100 years from now, I don't know


No it will never happen banks are not going anywhere as even if bitcoin becomes more popular in future there will be certain bunch of people who will prefer only to use banks as they have a feeling that their money in safe in banks which is actually true and no one knows how long bitcoin will survive in future.
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May 09, 2017, 01:45:00 AM
 #4206

World and technology are very advanced right now. However, that does not mean the bank will disappear, instead the bank will innovate with this progress. Banks are needed by every country and its citizens.
if we think that bitcoin is also play a role of bank , in bank your money in control of your bank or country government and bitcoin is in our own control no one can stole or hold our balance and bitcoin fees is very much low than bank i hope one day bitcoin will be disappear the bank in the future. 

Aren't bitcoin wallets banks themselves? You do not need a big bank if you have bitcoin wallet that is not being controlled by anyone but you!
It's not a bank for me, it's just a simple wallet with no protection if that will be compromise due to hacking or whatever related problems we may face. In my understanding banks are regulated by the government to comply with the rules to protect the interest of the depositors and investors, a wallet is a simple wallet where you can store your money and it does nothing else.

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May 09, 2017, 06:49:30 AM
 #4207

Banks has the people trust, even with some manipulation and too much control above your money, bitcoin is a medium-high risk investment since the price changes a lot, but its supposed to get value over time. The fact is people will keep making their loans over banks, which they can pay in 20-40 years, something with bitcoin there is no way to make such, atleast not yet.
The government will also not let their bank dissapear. Bank has power to influence the country economy. the interest rate, inflation and currency valus are highly correlated.  The central bank is setting the interest rate to affect the inflation.

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May 09, 2017, 06:55:25 AM
 #4208

The Bank full supported by the Government, in any conditions the bank will continue to exist and will be maintained through subsidies. Bitcoin can not make banks disappear.

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May 09, 2017, 07:02:35 AM
 #4209

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?


Actually, bitcoin can not make banks disappear as it is the primary material to convert your bitcoin/fiat money vice versa. Also, bitcoin also needs bank thus, disappearing of banks won't happen wether the fiat are a bout to dicrease its volume.

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May 09, 2017, 07:05:11 AM
 #4210

Banks has the people trust, even with some manipulation and too much control above your money, bitcoin is a medium-high risk investment since the price changes a lot, but its supposed to get value over time. The fact is people will keep making their loans over banks, which they can pay in 20-40 years, something with bitcoin there is no way to make such, atleast not yet.
The government will also not let their bank dissapear. Bank has power to influence the country economy. the interest rate, inflation and currency valus are highly correlated.  The central bank is setting the interest rate to affect the inflation.
I think the bank has stronger support from the government, and bitcoin has no support at all. Well, even though bitcoin has been supported, I think it would be impossible to replace a bank that has been a people's trust for several years.


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PowerWalletDotCom
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May 09, 2017, 07:06:54 AM
 #4211

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?


Actually, bitcoin can not make banks disappear as it is the primary material to convert your bitcoin/fiat money vice versa. Also, bitcoin also needs bank thus, disappearing of banks won't happen wether the fiat are a bout to dicrease its volume.
I, too, adhere to this opinion and at the same time I can say even more that banks adopt the technology of blocking and so I would be able to withstand new challenges and adjust to new ideas in the field of finance and economy.
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May 09, 2017, 07:16:58 AM
 #4212

It seems to me that the  concept of a bank in any case remains. Perhaps it will somehow change, but over the long years the bank is convenient for the whole of mankind to store currency and make money transactions. Perhaps for bitcoin, from time to time, their digital banks will be created.

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May 09, 2017, 08:35:07 AM
 #4213

It seems to me that the  concept of a bank in any case remains. Perhaps it will somehow change, but over the long years the bank is convenient for the whole of mankind to store currency and make money transactions. Perhaps for bitcoin, from time to time, their digital banks will be created.
Bitcoins will remain uncontrolled by the government and people would prefer that way, even if there is a bank that caters bitcoin and gives insurance like fiat banking does, I would not put all my money, I have to remain anonymous because the moment I entrust my money in the bank I will be force to agree with their terms and they want to implement the KYC which is not being done in crypto of which we are enjoying also.

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May 09, 2017, 11:29:51 AM
 #4214

i dont think bitcoin will ever become more mainstream than real money so no
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May 09, 2017, 11:50:12 AM
 #4215

i dont think bitcoin will ever become more mainstream than real money so no

Yes, bitcoin can not completely replace real money. It will exist as an additional currency, if nobody destroys it.
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May 09, 2017, 11:52:18 AM
 #4216


(I am a 1MB block supporter who thinks all users should be using Full-Node clients)
Avoid the XT shills, they only want to destroy bitcoin, their hubris and greed will destroy us.
Know your adversary https://www.youtube.com/watch?v=BKorP55Aqvg
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May 09, 2017, 01:55:42 PM
 #4217

I think if the use of the bitcoin massive then people will distract from real money transactions to the bitcoin. Banks are very likely to disappear because the user is gone.
GoodLuck2
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May 11, 2017, 09:53:31 PM
 #4218

Banks has the people trust, even with some manipulation and too much control above your money, bitcoin is a medium-high risk investment since the price changes a lot, but its supposed to get value over time. The fact is people will keep making their loans over banks, which they can pay in 20-40 years, something with bitcoin there is no way to make such, atleast not yet.
The government will also not let their bank dissapear. Bank has power to influence the country economy. the interest rate, inflation and currency valus are highly correlated.  The central bank is setting the interest rate to affect the inflation.
I think the bank has stronger support from the government, and bitcoin has no support at all. Well, even though bitcoin has been supported, I think it would be impossible to replace a bank that has been a people's trust for several years.
I have to some different view about this. It’s true that banks cannot disappear but I don’t think bank is going to be physically absolute it is working at backend. Bitcoin is website of full feature I think it is not in their rule that they show the involvement of bank even they doing transaction through it but involvement of bank is not in benefit of us and bitcoin want our benefit as much as possible that’s why involvement of bank is not showing. 
Ziskinberg
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May 12, 2017, 05:10:23 AM
 #4219

I think if the use of the bitcoin massive then people will distract from real money transactions to the bitcoin. Banks are very likely to disappear because the user is gone.
It's not gonna happen, massive use will not hit a majority of the worlds population, bitcoin is not simple to understand and big number of the world's population are living a poor life or under poverty, do you think they will bother to spend time researching on how to use bitcoin without earning from it?
I guess not, people are saying that bitcoin can give earning but it's not, it is a currency as per general definition.

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May 12, 2017, 06:35:10 AM
 #4220

Bitcoin never make banks get disappeared. Banks are the economy backing system without which we could have never grown or could have never experienced such a growth in within our country as well in other sectors. Possibly both are essential for a successful growth.

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