can bitcoin replace the bank?

[mynameisdon]

hey all nowadays everyday bitcoin users are increasing day by day also it's demand also going high.
so in this way whats your opinion on this-can bitcoin replace the bank?

[bitcoinisfurture]

Till now many people dont have access to banks after many years of independence. And bitcoin can replace banks 

[btvGainer]

hey all nowadays everyday bitcoin users are increasing day by day also it's demand also going high.
so in this way whats your opinion on this-can bitcoin replace the bank?

Even in countries where bitcoin is widely accepted and in use,it hasn't replaced bank.
Bitcoin and banks both serve entirely different purposes.One can nor replace other.
Btw a similar thread exist here https://bitcointalk.org/index.php?topic=1324174.0 you can see a long discussion on this topic there

[soyab0007]

it will be good for us, if it not replaced bank..

[mynameisdon]

it will be good for us, if it not replaced bank..

why do you think so?so you don't trust bitcoin.bitcoin is our future currency ita price is going high everyday.
yes i know bank and bitcoin have different work but what did you thought while saying "it will be better if bitcoin don't replace the bank"?

[btvGainer]

it will be good for us, if it not replaced bank..

why do you think so?so you don't trust bitcoin.bitcoin is our future currency ita price is going high everyday.
yes i know bank and bitcoin have different work but what did you thought while saying "it will be better if bitcoin don't replace the bank"?

It is not whether we trust in bitcoin or not.Bank serves various purposes also besides keeping our money and facilitating money tranfer.Bank gives loans also that help boost economy.Banking sector offers thousands of jobs directly and indirectly.There are several benefits of Banks that bitcoin can't provide

[Divinespark]

I think BTC can become the go to currency of the Internet and IoT. Not so sure about the offline economy in a high friction country like India

[globalgaurav]

BTC can become the go to currency of the Internet and IoT.

[btvGainer]

I think BTC can become the go to currency of the Internet and IoT. Not so sure about the offline economy in a high friction country like India

Yes but I dont think Indian Government would allow this to happen.But if that do happen,it would be a great boost to bitcoin globally also

[soyab0007]

I am against it.. let leave bitcoin separately..

[mynameisdon]

I am against it.. let leave bitcoin separately..

why?can you elaborate it please?
i am interested to listen your opinion that why you want betcoin let be separated.

[skang]

'10 years down the line, us bankers will need to find new jobs' ..also, '..eventually we'll figure out new ways to make money, or maybe the government will fund us..'
- Raghuram Rajan
(Governor of RBI)
http://www.ndtv.com/video/business/india-forecasts/indian-stock-markets-not-in-a-bubble-raghuram-rajan-to-ndtv-s-prannoy-roy-349983
(around 20-22 minutes into the video on that page)
 

[Digitalbitcoin]

Don't believe in rumors.

Bitcoin will never replace banks. The main reason is bank is necessary for local currency trading in ever country. But if we consider higher volume or international trade can be done with Altcoins.

Bitcoin is digital currency And it is at very higher level its safe , secure, transparent, and open source but still has limitations as if you dont have internet connectivity you cannot access your wallet so bank is must at the bottom level but major transaction can be done with bitcoin or other altcoin and that is the main loss of banks as bank cannot get exchange charge or commission.

Its global currency with exact value of each and every countries curency so if we are in india we need INR to make trade or even buy something locally.

[skang]

Bitcoin will never replace banks.

Bitcoin will replace banks as much as whatsapplike msging apps have replaced sms.
Within 15 years if internet infrastructure continues at current rate in India.

So your prediction will be true but meaningless.

"We are moving towards a cashless society"
- RBI Governor

[btvGainer]

Bitcoin will never replace banks.

Bitcoin will replace banks as much as whatsapplike msging apps have replaced sms.

Your analogy is not correct.Messaging apps replaced sms because both serve the same purpose which is not the case with bitcoin vs bank

"We are moving towards a cashless society"
- RBI Governor

Again cashless society doesn't mean bankless society.These two are entirely different.With ATM,Debit credit cards,online banking we have already ushered into world of cashless banking

[mynameisdon]

Bitcoin will never replace banks.

Bitcoin will replace banks as much as whatsapplike msging apps have replaced sms.
Within 15 years if internet infrastructure continues at current rate in India.

So your prediction will be true but meaningless.

"We are moving towards a cashless society"
- RBI Governor

you have good point but i am not agreed with you 100% because bank have other work ane bitcoin have other.bitcoin is just a part of money but bank is everything.
if you want to withdraw your btc what will you do if bank is closed?
i think bank and bitcoin are right to them own way.let them leave to them own way.

[btvGainer]

you have good point but i am not agreed with you 100% because bank have other work ane bitcoin have other.bitcoin is just a part of money but bank is everything.
if you want to withdraw your btc what will you do if bank is closed?
i think bank and bitcoin are right to them own way.let them leave to them own way.

Mate if bitcoin become widespread,we wouldn't need bank to convert them to fiat.
But yes I agree bank serves other purposes as we and we may have Bitcoin banks too in future

[mynameisdon]

you have good point but i am not agreed with you 100% because bank have other work ane bitcoin have other.bitcoin is just a part of money but bank is everything.
if you want to withdraw your btc what will you do if bank is closed?
i think bank and bitcoin are right to them own way.let them leave to them own way.

Mate if bitcoin become widespread,we wouldn't need bank to convert them to fiat.
But yes I agree bank serves other purposes as we and we may have Bitcoin banks too in future

if bitcoin replaced bank so you mean labour will get theirs payment by bitcoin?lol
and beggar will seek .00005btc for theirs living.lol i can't stop my laughing now. finally want to say let them leave to their own way.

[skang]

you have good point but i am not agreed with you 100% because bank have other work ane bitcoin have other.bitcoin is just a part of money but bank is everything.
if you want to withdraw your btc what will you do if bank is closed?
i think bank and bitcoin are right to them own way.let them leave to them own way.

Mate if bitcoin become widespread,we wouldn't need bank to convert them to fiat.
But yes I agree bank serves other purposes as we and we may have Bitcoin banks too in future

if bitcoin replaced bank so you mean labour will get theirs payment by bitcoin?lol
and beggar will seek .00005btc for theirs living.lol i can't stop my laughing now. finally want to say let them leave to their own way.

Yes, the user interface is laughable right now, but paper wallets will see an improvement and can replace notes. The responsibility lies on designers/developers.

You can do anything with bitcoin that you can with bank and much much more.
One thing though, that people can't think about, is loans.
For that the solution is blockchain. How?
Again, you will slowly realize when you see experiments like ICOs and theDAOs being applied to physical infrastructure, with an improved interface for common man.

I am not saying you can do it today. But I can tell you 'how'(modus operandi) you can do it today.

[btvGainer]

you have good point but i am not agreed with you 100% because bank have other work ane bitcoin have other.bitcoin is just a part of money but bank is everything.
if you want to withdraw your btc what will you do if bank is closed?
i think bank and bitcoin are right to them own way.let them leave to them own way.

Mate if bitcoin become widespread,we wouldn't need bank to convert them to fiat.
But yes I agree bank serves other purposes as we and we may have Bitcoin banks too in future

if bitcoin replaced bank so you mean labour will get theirs payment by bitcoin?lol
and beggar will seek .00005btc for theirs living.lol i can't stop my laughing now. finally want to say let them leave to their own way.

Do Labour get paid through banks?Do we give alms to beggers through bank?
We pay them in cash.right?