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Author Topic: Can Bitcoin make Banks disappear?  (Read 427460 times)
watchurstep45
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November 13, 2017, 09:29:47 AM
 #5681

no way it cant happen. It's really hard that Bitcoin makes banks disappear because simply people still using banking services a lot more than Bitcoin till now , and also even Bitcoin this banking services to get converted into fiat.
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cybersofts
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November 13, 2017, 10:37:22 AM
 #5682

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?



Both have their own roles to play in the future.
I don't think bitcoin will make banks disappear because bitcoin has it own issues and limitations.
Bitcoin and banks both have their limitations and advantages, people are the ones to choose best for themselves.
   
serverus
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November 13, 2017, 10:54:15 AM
 #5683

Bitcoin can't replace banking. I guess its just some sort of investing or else an online currency. Many people rely on their banks and even have debts, how come Bitcoin can make Banks disappear.
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November 13, 2017, 11:36:21 AM
 #5684

Bitcoin can't replace banking. I guess its just some sort of investing or else an online currency. Many people rely on their banks and even have debts, how come Bitcoin can make Banks disappear.
As long as the bank maintain its reputation it cannot be replace by anything else, it has been existing for centuries and a new invention
like bitcoin is not capable of replacing it because the government always there to protect banks.

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November 13, 2017, 11:45:38 AM
 #5685

If more and more peoples invest into the Bitcoins, then it will lost some customers who save money in the bank or invest on the Stock market (other markets) through the Bank. It actually make the EU and US stock market not so exciting as well.
Btw. I am regret that I still keep some money in the bank and stock market, not transfer into BTC 2 days ago. Or maybe should buy some new encryptions like Deep Onions.  Cheesy Cheesy

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TheKeyLongThumbI
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November 13, 2017, 12:28:58 PM
 #5686

I think there will still be banks but it would be less powerful in the future. It could make small banks to close after another and then only a few huge banks will be left. They won't  dissappear but they they will be useless after a few years.
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November 13, 2017, 12:32:33 PM
 #5687

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 doubt bitcoins can beat fiats and the banks that hold them because of one thing: bitcoins and fiat money are two completely different things. One can never beat the other and vice versa. But for me, it reakky depends on the masses' reaction on whether or not bitcoins as a world wide currency, will help ALL of the people, whether poor or rich.

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November 13, 2017, 12:33:48 PM
 #5688

I think that's hard. because there are still many people who do not have knowledge about bitcoin and bitcoin has not been recognized by the government. unlike banks that the government has acknowledged.
kalawang
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November 13, 2017, 12:45:28 PM
 #5689

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?


Yes i wil sure after 10 years bitcoin will replace bank because bitcoin is more power and more fast than bank so this is the new era we should need to earn bitcoin now until we regret someday rean a lot now and hold it.
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November 13, 2017, 12:55:18 PM
 #5690

Banks will always be there. Bitcoin/Fiat transaction will always be needed which will definitely need the bank. But i think bitcoin on the long term will cause banks to downsize its workforce.
georgiyfo
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November 14, 2017, 10:56:25 AM
 #5691

Certainly can make financial institutions vanish, but not now considering that the govt are nonetheless using fiat, which is based on a big large lie.
BitRewardsTeam
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November 14, 2017, 01:01:29 PM
 #5692

Certainly can make financial institutions vanish, but not now considering that the govt are nonetheless using fiat, which is based on a big large lie.

I agree, can make a bit damage for industry, but not destroy for all.
Joshapat
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November 14, 2017, 01:14:49 PM
 #5693

Certainly can make financial institutions vanish, but not now considering that the govt are nonetheless using fiat, which is based on a big large lie.

As long as bitcoin is not legalized it will not make banks or financial institutions disappear. I'm sure banks and governments will continue to work together and campaign for the fight against bitcoin.


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pearlsome
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November 14, 2017, 01:22:07 PM
 #5694

In my opinion, this may happen, but not in the near future. In my country there is a completely mobile bank. Service is complete only by phone. This is savings on real branches. A small commission and a large percentage of cash back. Bitcoin will exist along with the banks, not instead of.

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November 14, 2017, 01:39:01 PM
 #5695

The answer to these question might be a yes and a no. Maybe yes, because bitcoin is a good way to store your money and it is very secure like banks. Bitcoin is very comfortable to use because you can access it thru the internet and if you have an application that lets you keep your bitcoin and you can convert it to cash in an easy way. If some of the restaurants or places that accepts bitcoin as payment, that would be very useful.
The other answer is maybe no, because banks are still useful these days. You can cash out your bitcoin via banks and that is very comfortable for those who have bank accounts. Banks are also useful for those who are not yet knowledgeable about bitcoin.
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November 15, 2017, 04:06:54 AM
 #5696

I think bank wont disappear because of bitcoin, because some people are using bank instead of bitcoin. bitcoin is nice , bank is nice, both of them is nice.
but some big company are using bitcoin and some are using bank .there is no bad in bitcoin and in the bank.
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November 15, 2017, 05:11:05 AM
 #5697

I think bank wont disappear because of bitcoin, because some people are using bank instead of bitcoin. bitcoin is nice , bank is nice, both of them is nice.
but some big company are using bitcoin and some are using bank .there is no bad in bitcoin and in the bank.
Banks are important in this world because they are giving us the service to safeguard our money, though it does not earn a lot of interest
but I still believe when it comes to safety it's more safer that putting our money in our online wallet.
As long as you have a clean record, your money will not be lost because the government will protect it with their insurance.

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November 15, 2017, 05:27:17 AM
 #5698

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?


That's just impossible in my opinion. Banks are institutions, strongest intstitution, that is supported by different governments over the world. Bitcoin is decentralized, so it also means that Bitcoin is not controlled by any government. And with that, banks are obviously stronger than cryptos at this moment so it seems to be not possible for Bitcoin to replace banks or make it worthless.

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November 15, 2017, 05:34:56 AM
 #5699

I'm not sure about this, there are many predictions that bitcoin will replace the bank, however the limitations and inadequacies that bitcoin encounters with me are that this is hard to do.
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November 15, 2017, 06:26:28 AM
 #5700

Banks will never disappear. Conventional usage of fiat , petty cash is still required in our daily life. Banks work very closely with the gov, and all theyneed is to ensure regulations of bitcoin and crypto is in placed.
All forms of crypto transaction has to go through the national banks for kyc/aml and recording. In this way, everyone will still requires some bank account to use crypto.
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