Bitcoin Forum
June 21, 2024, 10:18:01 AM *
News: Voting for pizza day contest
 
   Home   Help Search Login Register More  
Pages: « 1 ... 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 [246] 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 ... 339 »
  Print  
Author Topic: Can Bitcoin make Banks disappear?  (Read 427562 times)
Somz1
Full Member
***
Offline Offline

Activity: 420
Merit: 102



View Profile
September 01, 2017, 04:27:33 AM
 #4901

It's entirely possible that bitcoins will make banks obsolete in future because people could do transactions themselves in a p2p manner
stepwilli
Sr. Member
****
Offline Offline

Activity: 1042
Merit: 273


View Profile
September 01, 2017, 06:20:57 AM
 #4902

My personal thinking said that, bank will not disappear.because of that,everyone don't know about bitcoin but they know about bank very well.in this reason, the users of bank is more than the users of bitcoin. so, bitcoin can't make banks disappear.
Do you remember in history, we use coin gold, silver, bronze before use paper money like now? Ok, if you know that, you also understand in someday Bitcoin can pass FIAT and replace paper money if the growth of Bitcoin cannot stop.
But if there won't be fiat that does not imply there won't be any banks around. The banks may shift to bitcoins and digital currencies. It is a possibility. For instance, ripples are connected with bitcoins and it is a digital asset. The central bank of Philippines has also legalized BTCs. I don't find Banks and BTCs rival forever.
Cold-Heart
Member
**
Offline Offline

Activity: 92
Merit: 10


View Profile
September 01, 2017, 06:27:14 AM
 #4903

Yes and no, yes if the people recommend bitcoins instead of banks or the majority of the people in the world are using bitcoins to transfer and convert money, but given the fact that we are still progressing and evolving to a more technological era. i guess bitcoin can't replace banks, but no one knows what will happen in the future, so let's just hope its for the better for all of us, and just for the bitcoin it self.
helga22richter
Member
**
Offline Offline

Activity: 112
Merit: 11


View Profile
September 01, 2017, 06:38:16 AM
 #4904

If you look at both, I think Bitcoin is hard to make the bank disappear as Bitcoin is still dependent on the bank and its financial system will not allow Bitcoin to dominate all markets. Instead . They will apply Bitcoin technology to control it

They will interact. But  BTC would never replace a bank.
NavI_027
Full Member
***
Offline Offline

Activity: 1232
Merit: 186


View Profile
September 01, 2017, 08:21:23 AM
 #4905

Quote from: BTCBinary link=topic=1324thmsg13522710#msg13522710 date=1452566458
It seems tt 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?


I think it's impossible for now because conventional money is the major type of money that we are using today and banks cannot and will not disappear as long as conventional money is existing. Even Bitcoins are now getting popular and now can be used for transactions, it still doesn't have the power and influence to beat the conventional money that we're using today.
Maybe in the future banks will gone IF bitcoins can surpass the conventional money.
fredrickodo
Member
**
Offline Offline

Activity: 66
Merit: 10


View Profile
September 01, 2017, 09:11:09 AM
 #4906

Bitcoin may cause banks to disppear but it will take a long time. its possibility will be determined the level of acceptability in the world. And i know that for every country to accept it is not todays thing

Periodik
Sr. Member
****
Offline Offline

Activity: 1022
Merit: 256


View Profile
September 01, 2017, 09:44:36 AM
 #4907

Bitcoin may cause banks to disppear but it will take a long time. its possibility will be determined the level of acceptability in the world. And i know that for every country to accept it is not todays thing



Add it up that bitcoin is decentralized. I wonder how governments want a currency which they can't control most especially influential countries like United States and China. But for the benefit of everyone decentralization of monetary system is the best. This should lessen the influence of banks, rich countries and personalities on the world's financial system.
salihno71
Sr. Member
****
Offline Offline

Activity: 420
Merit: 250


View Profile
September 01, 2017, 09:48:52 AM
 #4908

Today there is a noticeable trend especially in developed countries to minimize the amount of paper money in use. If this would happen in such extent that everybody would use only some kind of electronic payment (which is highly unlikely since some people don't want to use credit/debit cards for a number of reasons) then it might be possible. But as i already said, not likely.
stompix
Legendary
*
Offline Offline

Activity: 2926
Merit: 6411


Blackjack.fun


View Profile
September 01, 2017, 09:57:35 AM
 #4909

Bitcoin may cause banks to disppear but it will take a long time. its possibility will be determined the level of acceptability in the world. And i know that for every country to accept it is not todays thing



Add it up that bitcoin is decentralized. I wonder how governments want a currency which they can't control most especially influential countries like United States and China. But for the benefit of everyone decentralization of monetary system is the best. This should lessen the influence of banks, rich countries and personalities on the world's financial system.

You were right up to a point (I made it blue).
No, bitcoin will improve their influence.

Let's think for a moment where are the major holders of bitcoin. Look at the nodes map.
Probably Africa and South America/ South Asia have less than 2% of the total coins mined.
BTC will just make the ones that can afford to buy now richer, it won't make the poor rich.

Today there is a noticeable trend especially in developed countries to minimize the amount of paper money in use. If this would happen in such extent that everybody would use only some kind of electronic payment (which is highly unlikely since some people don't want to use credit/debit cards for a number of reasons) then it might be possible. But as i already said, not likely.

14 countries in the EU have more virtual /electronic usage than cash transaction.
In 3 of them cash payments have gone below 10%.
It will happen, sooner than you think.

.
.BLACKJACK ♠ FUN.
█████████
██████████████
████████████
█████████████████
████████████████▄▄
░█████████████▀░▀▀
██████████████████
░██████████████
████████████████
░██████████████
████████████
███████████████░██
██████████
CRYPTO CASINO &
SPORTS BETTING
▄▄███████▄▄
▄███████████████▄
███████████████████
█████████████████████
███████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
███████████████████████
█████████████████████
███████████████████
▀███████████████▀
█████████
.
FabulousZombie
Member
**
Offline Offline

Activity: 65
Merit: 10


View Profile
September 01, 2017, 10:09:30 AM
 #4910

As long as Bitcoin Exists , any kind of bank will not cease to exist .
seattletu
Sr. Member
****
Offline Offline

Activity: 336
Merit: 250



View Profile
September 01, 2017, 10:12:19 AM
 #4911

for me, I believe that the banks won't vanish. They might be created further, change the method for the genuine presence yet I feel that will survive. Continuously will be requirement for cash in huge plans or extends, or even in different circumstances of everybody of us. May be a place when are offered the required guarantees that something can abandon issues and take the required cash (or instruments which may supplant those).

Be this the season of the genuine us dollar and be the tomorrow one when perhaps will be the day of bitcoin or the cryptos. Indeed, even in the presumably time of just the cryptos will exist such needs. What's more, even with the most complex crypto in presence will exist dependably a programmer which can have the capacity to take or break the security of our own wallets. Or, then again individuals which will offer crypto yet not security. It is something else a bank. In all the past issues. Or, on the other hand perhaps others that are not in my mind now.
daenarys_stormborn
Full Member
***
Offline Offline

Activity: 756
Merit: 100



View Profile
September 01, 2017, 11:37:45 AM
 #4912

I think as long as the state can not make laws and regulations about legalizing bitcoin, the bank will not be disappear and replaceable, because people are still difficult to trust bitcoin to be used as a depository, but otherwise the bank has been very reliable

lllaqpt
Full Member
***
Offline Offline

Activity: 420
Merit: 100



View Profile
September 01, 2017, 12:02:18 PM
 #4913

I think that the founders of banks are very influential people and they will not allow the crypto currency to destroy them. Either the crypto currency will carry out its transactions through banks or they will destroy it by prohibition.

SATURN
Liquidity providerfor crypto markets Cross-chain Exchange & OTC trading Platform
────────  Facebook Twitter ♦  Telegram ♦  Blog ♦  Bitcointalk   ────────
appleffi
Member
**
Offline Offline

Activity: 126
Merit: 11

One of a kind


View Profile
September 01, 2017, 12:11:12 PM
 #4914

I don't think Banks can be replaced with Bitcoin, it is far to being possible because I believe banks are well established and has been widely used in the world. And also come to think of it, bitcoin should be in coordination with banks for it to be an acceptable medium of exhange which becomes valuable to the people.

triasel
Sr. Member
****
Offline Offline

Activity: 672
Merit: 250



View Profile
September 01, 2017, 12:30:14 PM
 #4915

It cant because old people and big fortunes are stored at banks, soo it wont happen at all, as some people said in the past save your money at the banks and enjoy the fees they pay to you, since they lend your money to others. Even the p2p transactions does requires bank, without them bitcoin would be dead since we need to transfer money between accounts. Bitcoin wont replace anything, it can improve all services as remitances, providing a fair system and not abusive charge due to cambio.
People who put their money to banks just want to be safe with their money, but actually they have a business where they get the money they save.
Bank is just good for saving but not for investing, however there are also some who what to fully hide their real wealth and they can store their money into bitcoins but I think there are only few of them compared to the total number of banks depositors.
Yes people use banks for saving to their business so that they saved money for their future. Banks is the popular saving place in our society but when the others seek bitcoin and spread it maybe the bitcoin become the popular saving place also and investment place for everyone.
yeah i agree with you, bitcoin and bank is different basic. bank is for saving money but bitcoin to invesment
bitcoin can't make bank dissapear  because not all people familiar with bitcoin
yugyug
Sr. Member
****
Offline Offline

Activity: 616
Merit: 256



View Profile
September 01, 2017, 12:37:36 PM
 #4916

there is no way that BTC can make bank disappear, BTC today is reliant to fiat and fiat is reliant to bank. There's a chance that  BTC may disappear hru the joining forces of the banks. there is a rumor that a major bank companies like HSBC, are also developing a cryptocurrency that could rival BTC and could put BTC into danger ,this is not related to Ripple XRP altcoins as other bank adopted this protocol.
djselery
Legendary
*
Offline Offline

Activity: 1386
Merit: 1001


View Profile
September 01, 2017, 12:40:41 PM
 #4917

I don't think that Bitcoin can make banks disappear, because people use mainly fiat currencies and need banks in their offline transactions mostly. Bitcoin is used online and need to be converted to fiat to be used offline, so it can't replace banks.
AleksandraSandra
Newbie
*
Offline Offline

Activity: 30
Merit: 0


View Profile
September 01, 2017, 12:43:18 PM
 #4918

If banks accept bitcoins, they can earn. Also on exchange .
Kousei23
Sr. Member
****
Offline Offline

Activity: 411
Merit: 335


View Profile
September 01, 2017, 12:43:53 PM
 #4919

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?



Of course no, bitcoin will never make bank disappears because we all know and we all can see that bitcoins and bank nowadays are have some collaboration in a sense of bank is the way of cashing out our bitcoin and to earn it. And sometimes bank is the one who will secure our money just like bitcoin so that it will be very safe and not get by anyone.


░░░░░░░░░░▄▄████████████▄▄
░░░░░░░▄███▀▀▀░░░░░░░░▀▀▀███▄
░░░░▄███▀░░░░░░░░░░░░░░░░░░▀███▄
░░░███▀░░░░░▄▄▄▄▄▄▄▄▄░░░░░░░░▀███
░▄██▀░░░░░░░░▀█████████▄░░░░░░░▀██▄
▄██▌░░░░░░░░░░░░░░░░▀███▌░░░░░░░▐██▄
███░░░░░░░░░░░░░░░░░░▐███░░░░░░░░▐██
██▌░░░░░░░░░░░░░▄▄▄▄████▀░░░░░░░░░██
██▌░░░░░░░░░░░░░█████▀▀░░░░░░░░░░░██
███░░░░░░░░░░░░░██▌░░░░░░░░░░░░░░▐██
▀██▌░░░░░░░░░░░░██▌░░░░░░░░░░░░░▐██▀
░▀██▄░░░░░░░░░░░██▌░░░░░░░░░░░░▄██▀
░░░███▄░░░░░░░░░░░░░░░░░░░░░░▄███
░░░░▀███▄░░░░░░░░░░░░░░░░░░▄███▀
░░░░░░░▀███▄▄▄░░░░░░░░▄▄▄███▀
░░░░░░░░░░▀▀████████████▀▀




JOIN OUR COMMUNITY
▀▀▀▀░░▀▀▀▀░░▀▀▀▀░░▀▀▀▀░░▀▀▀▀░░▀▀▀▀░░▀▀▀▀░░▀▀▀▀░░▀▀▀▀
Twitter  Telegram  Reddit  Medium





░░░░░░░░░░░▄▄▄▄▄▄▄░░░░░░░▄▄▄▄
░░░░░░░░░▄▀░░░░░░░▀▀▄▄▄▀▀░░░░▀▀▄
░░░░░░░░▐▌░░░▄▄░░░░░░░░░░░░░░░░▀▄
░░░░░░░░█▄▀▀▀░░░░░░░░░░░░░░░░░
░░░░░░▄▀░▌░░░░░░▀▄▄▀▀▀▀░▀▀▄▄░░░
░░░░░░░░░░░▄▄▄▄░░░░▄▀▀▀▀▄▄█░░▐▄
░░░░░░█░▄▀░█▌▄▄▄░▀▄░█▄▄▄▄▄░▐░█░░░▀▄▄
░░░▄▄▀▀█░░░░▄██░█▌█▄▄▀██▌▄█░▌█░░░░░░▀▄
░▄▀░░░░░▀▄▀▀▀▀▀░░░▐▐░░▀▀░░░░▌█░░░░░░░
░░░░░░░▐▀▌░░░░░░░█░▌░░░░░░▐█▀░░░░░░░
▐▄░░░░▄▄▀░█░░░░░░▀█▀▀▄▄░░░░░░░░░░░▄▀
░░█▄▀▀░░░░░░░░░░▀█▀█▀░░░░▄▀█░░░░▄▀
░▐░░▀▀▄▄░░░░▀▄░░░░░▀▀░░░░▄▀░░▀▄▀▀
░▐▄░░░░░▀▀▄░░░▀▄▄░░░░▄▄▄▀░░░▄▀▀▄
░░░▀▄▄░░░░░░░░░░▀▀▀▀░░░░░░░░░░
Gabrieelle
Sr. Member
****
Offline Offline

Activity: 364
Merit: 267


View Profile
September 01, 2017, 12:45:56 PM
 #4920

I don't think that Bitcoin can make banks disappear, because people use mainly fiat currencies and need banks in their offline transactions mostly. Bitcoin is used online and need to be converted to fiat to be used offline, so it can't replace banks.
Yeah you're right both has its own world and one cannot function in the world of the another as mentioned one is online and the other one is offline. Both of them has their own place that is why no one can replace the other one.
Pages: « 1 ... 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 [246] 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 ... 339 »
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!