Will Bitcoin do to Banks what Email did to the Post office?

[Tendo]

 

Welcome Ladies and Gents.

       If you are like me you have watched how the world's eyes have turned to Crypto Coins in general. I feel it was only a matter of time before the normal folk started getting their grubby fingers on it. But since its in the light it could really do some good for all of humanity. What do you think the face of Bitcoin will be like in 2020? Full blown BTC currency accepted by all or will it be pushed out because of big banks? Personally, I think it will take over fiat one day.

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[merchantofzeny]

I sure hope so. After reading the proposal by the EU Central Bank to remove deposit insurance, I'm even more convinced the these bankers must be punched down a peg. If they fail to destroy BTC, what I'm hoping is that they'd finally get their acts together and be less predatory to stay relevant.

[Kangaroo Penguin]

Banks will put up a bigger fight than the Post office

[loaddebitcard]

No it won't due to absence of infrastructure. Regular people will not use BTC in real life, cuz it's hardly accepted anywhere and is too expensive to buy and mine.

[Tendo]

No it won't due to absence of infrastructure. Regular people will not use BTC in real life, cuz it's hardly accepted anywhere and is too expensive to buy and mine.

I don't know about that, Japan is doing a very good job using it as a currency.

[SugoiSenpai]

Welcome Ladies and Gents.

       If you are like me you have watched how the world's eyes have turned to Crypto Coins in general. I feel it was only a matter of time before the normal folk started getting their grubby fingers on it. But since its in the light it could really do some good for all of humanity. What do you think the face of Bitcoin will be like in 2020? Full blown BTC currency accepted by all or will it be pushed out because of big banks? Personally, I think it will take over fiat one day.

It can be possible that Bitcoin can changed how Our economy works. Bitcoin has helped a lot of people with their transactions no matter where they are, what more can it do if it were to help people transact easily between exchanging goods in all places. This kind of reality is quite expensive though, as people will rely on technology itself to make a transaction, all physical money would be gone and people will rely in online transactions and not all people could afford to buy a digital gadget unless it is provided by the government. I guess in my point of view, it is impossible to make a society without physical currency specifically because it is too much expensive and not all people can handle technology. As of today Bitcoins will only serve as a digital currency and Banks will remain as Our source of physical money.

[Tendo]

Bitcoin helped make Ethereum and in turn made crypto kitties. Apparently that is a all it takes to tip the scales, just deliver the cuteness. But on a serious note, I see it in a way that crypto could easily out gun the banks. But then again, I know nothing about banking or crypto.

[Sithara007]

But you need to remember that post offices still exist, and they are doing pretty well, considering the current situation. And here in India, only a small minority of the population use emails. Most of the communication is done either through phone, or through post. And postal services such as money transfer are quite popular here.

[Tendo]

I do get what you are saying. But compared to the mid 80's mail is not exactly the same. Western Union sole purpose is to transfer money. Those fees make the ones on coinbase look good. But in the states, the majority use email and post. But who knows what the world will be like in a few years.

[Mad7Scientist]

What if it was found that eMail had fundamental scaling issues and there was a world wide email collapse?

[MysteryMiner]

Yes, Bitcoin is eventually going to goatse the banks as we know it. It took almost 20 years for e-mail to destroy postal offices, and unlike banking industry the post office did not take active measures to combat e-mail. And postal office was not evil and greedy.

[UNOE]

Seeing the rise of BTC in my opinion there is little chance banks can stop it from happening and spreading. What we all can hope now and what we can only ask ourselves is WHEN...hopefully soon enough!
I would love to see BTC taking over the market

[Tendo]

Seeing the rise of BTC in my opinion there is little chance banks can stop it from happening and spreading. What we all can hope now and what we can only ask ourselves is WHEN...hopefully soon enough!
I would love to see BTC taking over the market

I have a feeling 2021 is the Bitcoin crest. But who really knows.

[UNOE]

But the rise of BTC can also be its fall. Banks could put up a big fight, tho people that hold BTC might hold it for too long when it will be too late. Maybe banks are waiting for the same thing as we are, for BTC to raise just as much as banks need it to be, then hit back

[zate]

Bank transfers from person to person inside United States: Instant and free of charge

Bitcoin transfers from person to person inside United States: takes several hours and costs 30 $ per transaction, plus
the many days needed to withdraw later the BTC to fiat $ through an exchanger

Looks like  Bitcoin is just like a dinosaur holding its last breath before dying

[UNOE]

I can't agree with you on that, although it is possible, but its value is based on supply and demand laws, so the more people want to use the digital currency, the more it will grow. The economic principles that applied to other bubbles in the past are not the same as for the coin

[Pantoflascrypt017]

The post office still has so many uses though it is not just to post letters and even then there will likely always be a need for that unless some sort of hologram delivery system comes to fruition. I reckon that the banks aka Ripple will manipulate bitcoin and cryptocurrencies to work for them if they are not already i would be very surprised. These guys hold the power and by buying Ripple people are giving them just what they want.

[shaun98]

I think the battle between crypto and banks will continue to wage on in 2020. It will be a long time before banks go out of business due to crypto. They have been around for just way too long to simply just go.

[btcrut2017]

There is a big chance that banks are not that relevant anymore in the society in the future due to bitcoin. Although this could be a long fight since owners of banks are big businessman that can influence government to apply laws against bitcoin.

[DanWork]

Cash will always be there. It's what's more familiar, it's how government can best control its economy. A national currency that's used in the specific country.