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Author Topic: Can Bitcoin make Banks disappear?  (Read 427614 times)
Cinemo
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November 11, 2017, 01:02:05 PM
 #5641

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 yes thats why many goverment scared about bitcoin because theres a lot of wallet that can withdraw without any fees and the fees is low or sometines free so i think this is the start of the new era.
WiIdManatee
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November 11, 2017, 02:42:16 PM
 #5642

May be indeed May be no..No because, banks supply document forex which we can use within local stores exactly where credit cards aren't accepted...Yes, simply because just in case if everybody world wide use btc credit cards for transactions  perhaps it is going to be feasible for banks to vanish....
bitcoinVPSD
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November 11, 2017, 02:48:11 PM
 #5643

No I think this will never happen. The government will not let the banks disappear. In fact, some banks are gradually adopting bitcoin. Bitcoin will not make the banks disappear. Each country has a traditional currency and the bank is where it is kept

acmagbanua21
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November 11, 2017, 02:50:01 PM
 #5644

    maybe It can't because Bitcoin cannot borrow you money and cannot offer the same, so-called "services" the Banks can. People will continue falling for the lies and some of them really need to borrow money for business.
orka39
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November 11, 2017, 02:52:49 PM
 #5645

im sure it can...but it will take a long time to make bank dissapear...
but make sure that all people know what is btc...in my country just a less people know bitcoin...

Well, i have a different opinion with you. I dont think bank can be disappear because of bitcoin.
Bank has big back cover name government. And government will never let bank lost.
Success bank is mirror of success economy of the country.

tamoymie
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November 11, 2017, 03:02:27 PM
 #5646

nice topic. since bitcoin itself proves that we are able to do virtual transactions without any assistance from the bank, this will lead to this exact question. but in some way, there are some other transactions that we need to trust the bank with. like for example loans and insurance which bitcoin dont have any features about this matter. as what other post says. however, if bitcoin could do something about it. well, i prefer to used bitcoin and enjoy its benefits without stress. a world with only 1 currency BITCOIN. and we will all use e-wallet (electronic wallet)!

Jibit
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November 11, 2017, 03:06:06 PM
 #5647

Unless all countries around the world accept Bitcoin, there is no chance for Bitcoin making Bank disappear.
Thecryptocurrency09
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November 11, 2017, 03:12:59 PM
 #5648

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?



I don't feel like it won't happen, banks will dissappear. Yes, bitcoin could be associated with money where bank is use for but the other currencies still need a bank to invest and secure. Both of these where created in their own special way. Bitcoin is not also an evolution or development of banks that's why they both must come in to two separate things
9tails
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November 11, 2017, 03:27:23 PM
 #5649

I don't think banks will disappear because not everyone knows bitcoin others will need banks to deposite and withdraw their money if they need it
kittybabe@06
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November 11, 2017, 03:32:12 PM
 #5650

I think no. Because banks has a biggest role in business, economics and society instead they will use the bitcoin for bank transactions in future.
conected
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November 11, 2017, 03:56:24 PM
 #5651

I think it's hard to get the bank disappear because of the bitcoin, because the bank has been around for a long time and that's the economic pillar of a nation, so I'm sure bitcoin will never replace the bank. but bitcoin can be the same for the bank I believe can happen, because bitcoin users are getting more and more. not just from one country but already used by people in many countries.
- Yeah, Bitcoin will not be able to make the bank disappear, the bank is under the management of the government, they will not allow bitcoin to make the bank disappear, although Bitcoin is becoming popular but many still do not believe in bitcoin, between bitcoin and bank, they always choose banks, they trust the government than Bitcoin. In addition, many people know and support bitcoin still need through the bank to invest and withdraw profits from bitcoin, so if the bank disappears, I think the person who has the biggest trouble will be us, we will have no place to convert bitcoin into cash, Bitcoin needs banks, not banks need bitcoin


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Notmanaspatil
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November 11, 2017, 05:26:38 PM
 #5652

Hi people, can Bitcoin make banks disappear is not that easy of a task I think that BITCOIN has the potential to do it but due to the people's trust about the banks in their mind makes it difficult.IT is easy for a person to simply go to the bank and withdraw money rather than relying on the online currency that can get hacked (tho that is difficult l but still there is a long way till the day we will adopt Bitcoin as a standalone currency
Jake Virus
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November 11, 2017, 05:31:07 PM
 #5653

I think no. Because banks has a biggest role in business, economics and society instead they will use the bitcoin for bank transactions in future.
I agree with you, Banks has been running for many years, maybe 100 years or more, so for me that is impossible to disappear the banks has a many purposes in this world, and if the banks will disappear many people will be affected because there money is on the banks, i think bitcoin will be more good but it cant disappear banks.

Chooroz
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November 11, 2017, 05:38:02 PM
 #5654

I don't think banks will disappear because not everyone knows bitcoin others will need banks to deposite and withdraw their money if they need it
Thats true, so i am agree  with you, as of now bitcoin is not yet popular so how people will trust bitcoin, and im sure even the bitcoin became popular it will never disappear the banks, because the banks is very important for all people, particulary for the people who are saving for their future, and eventhough bitcoin is the best cryptocurrency it cant dissapear banks.

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November 11, 2017, 05:52:07 PM
 #5655

Maybe bank will change into another form but it ain't totally disappear.We all know how important bank is for us so i think bitcoin can't make banks disappear totally

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November 11, 2017, 05:57:39 PM
 #5656

I think it's hard to get the bank disappear because of the bitcoin, because the bank has been around for a long time and that's the economic pillar of a nation, so I'm sure bitcoin will never replace the bank. but bitcoin can be the same for the bank I believe can happen, because bitcoin users are getting more and more. not just from one country but already used by people in many countries.
- Yeah, Bitcoin will not be able to make the bank disappear, the bank is under the management of the government, they will not allow bitcoin to make the bank disappear, although Bitcoin is becoming popular but many still do not believe in bitcoin, between bitcoin and bank, they always choose banks, they trust the government than Bitcoin. In addition, many people know and support bitcoin still need through the bank to invest and withdraw profits from bitcoin, so if the bank disappears, I think the person who has the biggest trouble will be us, we will have no place to convert bitcoin into cash, Bitcoin needs banks, not banks need bitcoin

government cannot hold bitcoin, i mean they cannot control bitcoin that's why bitcoin must be safe and also bitcoin cannot control some thing that can control by government and this is the bank.  i think bank cannot control but bitcoin can cooperate with the bank.

josephpogi
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November 11, 2017, 06:01:11 PM
 #5657

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 it's a yes because bitcoin is much better than bank bitcoin is free to transact so i think after 5 years bitcoin willreplace bank actually not bitcoin but some wallet like coinbase but in our country coin.ph is the best so i prefer coin.ph than bank. Smiley
fishball
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November 11, 2017, 06:05:44 PM
 #5658

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?



I think there's a high chance that this can happen because if you will look at the current demand of bitcoin, you would see that many people are encourage to join and use this cryptocurrency. Since here, your money will grow more compared to the money that are saved in the bank. So I think the banks will force to offer bitcoins too in their customer to catch up.
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November 11, 2017, 06:08:17 PM
 #5659

not really bt one day bitcoin gonna accept by bank and that day will come soon.
bitcoin is crypto and its a safest way to deal Smiley
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November 11, 2017, 06:32:28 PM
 #5660

not really bt one day bitcoin gonna accept by bank and that day will come soon.
bitcoin is crypto and its a safest way to deal Smiley

I don't think that banks are that stupid to accept Bitcoins. The bank infrastructure is entirely based on fiat cash. The growth of decentralized crypto-currency can end their dominance and the banks know it very well. That is why banks such as Goldman Sachs are indulging in negative propaganda campaigns against the BTC.
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