Bitcoin VS bank

[MMS2017]

Bitcoin is more important than bank and if we see that bitcoin deposit in the good days are profitable while on the other hand we can be any time online and able to use our money at home and it is good to deposit our money in digital wallet may we will receive a good return over this deposit as we know that now a days crypto is mostly using by the educated people and it is good to keep trust on bitcoin.

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[galambo]

If bitcoin can survive a manhunt, then surely it has the potential to replace banks, and also know that it will inherit all the other problems of centralization too. However, if we treat bitcoin as a superior entity then we just might scale those hurdles and create a new digital economy; but from the looks of things that horizon is over a decade away.

[jonatuzc]

If bitcoin can survive a manhunt, then surely it has the potential to replace banks, and also know that it will inherit all the other problems of centralization too. However, if we treat bitcoin as a superior entity then we just might scale those hurdles and create a new digital economy; but from the looks of things that horizon is over a decade away.

I don’t think so people are going to pass vote of confidence for the centralization of bitcoin. The major factor that attracted everyone towards crypto currencies is there decentralized nature. People are tired of banks and their illogical policies and same is the case of governments. Bitcoin rather the whole crypto market is providing people with the liberty of having complete control over their wealth.

[bajigur894784]

I think bitcoin will not replace the bank. however, may be, the blockchain wich become the technology behind the bitcoin will replace the inefficient banking system.

Because, most of the centralized banking system is vulnerable to hacking attacks and security breaches. However, with the use of Blockchain technology, banks can process high throughput transactions efficiently and securely.

[tanghere02]

I still think Bitcoin can not replace the banks for the obvious reason that it was not intended and made for that purpose. And I think it is hard for other people to change their ways because of this new technology, I just can’t imagine someone especially in my country who follows culture from generation to generation and automatically just change it, it will be hard especially for the elderly.

[BitcoinTurk]

For more than a century, the banking system was used to fund state, endanger the stability of the economic activity, robbing private savings, eliminate one road, promote the financing dependence, even make violent reached an unprecedented scale, all because we do not have different techniques to implement monetary exchange. Now the monopoly is being broken. Bitcoin was born. The fear of the ruling class is only just beginning.

Do you think bitcoin will replace Banks in the future?

I think this question is ridiculous. The banking sector is among the limited sectors that are immortal in the world. In addition to being based on a perfect system, they are also the pioneers of all economic activities. Yes, crypto money technologies are something else, but I still do not believe it's the power to destroy this system. Even if the use of fiat currency will be completed in the future, it is very likely that banking systems will be established on cryptographic technology.

[Carreuh]

If I do not think it's possible because bitcoin bank will disappear because the bank and bitcoin has a very close relationship because with the bank we can take and or money that we have been transferred from bitcoin into currency, if the bank is lost then we are this bitcoiner which will be difficult because it can not take the money we have

[Hans17]

For more than a century, the banking system was used to fund state, endanger the stability of the economic activity, robbing private savings, eliminate one road, promote the financing dependence, even make violent reached an unprecedented scale, all because we do not have different techniques to implement monetary exchange. Now the monopoly is being broken. Bitcoin was born. The fear of the ruling class is only just beginning.

Do you think bitcoin will replace Banks in the future?

Well i have read an article which it said that btc cannot be overtake the banks in future it would be the number one currency but it cant surpassed the banks in the future. Becuse for my own perspective it hard and it would be a huge impact for the people to change the ways that they do for the past years.

[crisanto01]

For more than a century, the banking system was used to fund state, endanger the stability of the economic activity, robbing private savings, eliminate one road, promote the financing dependence, even make violent reached an unprecedented scale, all because we do not have different techniques to implement monetary exchange. Now the monopoly is being broken. Bitcoin was born. The fear of the ruling class is only just beginning.

Do you think bitcoin will replace Banks in the future?

Well i have read an article which it said that btc cannot be overtake the banks in future it would be the number one currency but it cant surpassed the banks in the future. Becuse for my own perspective it hard and it would be a huge impact for the people to change the ways that they do for the past years.

It is too early for now to say that bitcoin will lead as the currency of all time, but nowadays banks sees bitcoin as a threat in their cash flow, someday time will gonna come that the bank gonna lose a material cash which will lead to scarcity and unbalance economy that is why they will need the help of cryptocurrency.

[Stac]

Bitcoin is the first digital currency or crypto currency every used in the cryptography network, bitcoins can be transferred all over the world without the help of banks. For transacting world wide the banks normally charge huge transaction charges, bitcoins are transferred with minimal transaction charges all over the world. Banks use the traditional currency for any transactions, bitcoins are backed by fiat currencies. All the banking transactions are not transparent as the fiat currencies of the customers are controlled by the banking system whereas bitcoins are only controlled by its users and no else have authority of the users bitcoins.

[South Park]

For more than a century, the banking system was used to fund state, endanger the stability of the economic activity, robbing private savings, eliminate one road, promote the financing dependence, even make violent reached an unprecedented scale, all because we do not have different techniques to implement monetary exchange. Now the monopoly is being broken. Bitcoin was born. The fear of the ruling class is only just beginning.

Do you think bitcoin will replace Banks in the future?

It will be very difficult for that to happen I will love for bitcoin to replace banks in the future but I also know that the possibilities of that happening are very low so we need to ask ourselves what are we going to do until then because even if that were to happen it's very unlikely that is going to happen in our lifetimes so I really hope that in the future we do not even have to convert our bitcoin to fiat that way we can avoid banks.

[wuvdoll]

For more than a century, the banking system was used to fund state, endanger the stability of the economic activity, robbing private savings, eliminate one road, promote the financing dependence, even make violent reached an unprecedented scale, all because we do not have different techniques to implement monetary exchange. Now the monopoly is being broken. Bitcoin was born. The fear of the ruling class is only just beginning.

Do you think bitcoin will replace Banks in the future?

One thing for sure that banks are very important to us, and there is no way you should be expecting Bitcoin to take over and bring bank to an end. That will never happen. Banks are very important and helps every country in lots of ways. Just like world bank which can give loans to countries especially third world countries to help in their development.

Bitcoin can never do such a thing. So, no matter what people thinks about banks, I still think the world needs it and it’s very helpful, has been around for centuries and stopping it will destabilize the world.

[fullhdpixel]

For more than a century, the banking system was used to fund state, endanger the stability of the economic activity, robbing private savings, eliminate one road, promote the financing dependence, even make violent reached an unprecedented scale, all because we do not have different techniques to implement monetary exchange. Now the monopoly is being broken. Bitcoin was born. The fear of the ruling class is only just beginning.

Do you think bitcoin will replace Banks in the future?

Bitcoin will make banks obsolete in the future if banks will not find ways to counter the effectivity of digital currency. Personally, i don't like to put my money on the banks because of small interest rate. Banks are the only ones to profit from the money of the people. 

Banks might have a limited function but banks will still stay for our deposits as long as they have that insurance.
The thing is big banks are protected by the government and I think what is happening with the crypto now is that because of the manipulation, they
want people to panic so crypto will fall.

The bank will still exists because it is being back up by the government, but for  profitability is seems that  people rather invest bitcoin rather than putting money in bank is not a wise idea because bank will only prosper they just using depositors money to their own profit.

If someone is thinking that may be Bitcoins take over the charge of banks and people will start working on Bitcoins and ignore banks, this is really a misconception. This is psychology of people that we always be so much sensitive about the source of income we are going to invest in.

Same is the case here, where people will prefer banks over Bitcoin for their savings. But there will be a time where the situation can be reversed.

[redsun114]

Bitcoin is more important than bank and if we see that bitcoin deposit in the good days are profitable while on the other hand we can be any time online and able to use our money at home and it is good to deposit our money in digital wallet may we will receive a good return over this deposit as we know that now a days crypto is mostly using by the educated people and it is good to keep trust on bitcoin.

Both are incredible in their own domain but defense comes when profit ratios are concerned. Like bitcoins have high profile in giving profits to their users while on the other hand, banks have strict policies about it and ultimately the profits are so low. So better is to get into bitcoins world where things are so fast and easy with much high rated ratios of profits for every user all over the world.

[sinkfish]

both real world currency and crypto serve a different purpose. international trading still need real world currency to function. that's where bank come in. not in near future bank will be replace by bitcoin.

[mia khalifa]

For more than a century, the banking system was used to fund state, endanger the stability of the economic activity, robbing private savings, eliminate one road, promote the financing dependence, even make violent reached an unprecedented scale, all because we do not have different techniques to implement monetary exchange. Now the monopoly is being broken. Bitcoin was born. The fear of the ruling class is only just beginning.

Do you think bitcoin will replace Banks in the future?

honestly I think this is a very hot competition because if the customers who are in the bank took all his money and move on the bitcoin that can be used to save money can also be made to grow bitcoin then the bank will incur losses.

[davida]

One thing to understand is that Bitcoin is a peer to peer network, where you don't have to trust middleman. Miners facilitate the transaction between two addresses, not between two person or wallets. and yes, for their work to create blocks and as such secure the blockchain they get incentive. Elimination of the third party will more confidence in us in the nearest future. Is is possible but it will only take time.

[Firdausiii]

Well, even as at now, a perspective is being understood that more persons would rather keep their monies stored as Cryptocurrency rather than just putting it in the bank. The bank are now probably limited to intermediary work of linking a person with his/her Cryptocurrency wallets. These and many more reasons will impede the growth services of banks.

Banks are a much needed thing in real life, no bitcoin can guarantee how long it will stand. Things that have the same system but this one unity is intertwined, although it has a different world and nothing will replace each other

[stellgod]

For more than a century, the banking system was used to fund state, endanger the stability of the economic activity, robbing private savings, eliminate one road, promote the financing dependence, even make violent reached an unprecedented scale, all because we do not have different techniques to implement monetary exchange. Now the monopoly is being broken. Bitcoin was born. The fear of the ruling class is only just beginning.

Do you think bitcoin will replace Banks in the future?

Well i have read an article which it said that btc cannot be overtake the banks in future it would be the number one currency but it cant surpassed the banks in the future. Becuse for my own perspective it hard and it would be a huge impact for the people to change the ways that they do for the past years.

It is too early for now to say that bitcoin will lead as the currency of all time, but nowadays banks sees bitcoin as a threat in their cash flow, someday time will gonna come that the bank gonna lose a material cash which will lead to scarcity and unbalance economy that is why they will need the help of cryptocurrency.

Yeah definitely it is hard. This isn’t that much simple as just to say so. Reason is, banks have been established in earlier nineteen century and till now they are just being amazing in their own kind. Every person on this planet earth must know about them and their benefits and demerits. But main issue with bitcoins are they are just ignorant to people. This will take time to overcome banks.

[19spawnfeed]

For more than a century, the banking system was used to fund state, endanger the stability of the economic activity, robbing private savings, eliminate one road, promote the financing dependence, even make violent reached an unprecedented scale, all because we do not have different techniques to implement monetary exchange. Now the monopoly is being broken. Bitcoin was born. The fear of the ruling class is only just beginning.

Do you think bitcoin will replace Banks in the future?

Well i have read an article which it said that btc cannot be overtake the banks in future it would be the number one currency but it cant surpassed the banks in the future. Becuse for my own perspective it hard and it would be a huge impact for the people to change the ways that they do for the past years.

It is too early for now to say that bitcoin will lead as the currency of all time, but nowadays banks sees bitcoin as a threat in their cash flow, someday time will gonna come that the bank gonna lose a material cash which will lead to scarcity and unbalance economy that is why they will need the help of cryptocurrency.

Yeah definitely it is hard. This isn’t that much simple as just to say so. Reason is, banks have been established in earlier nineteen century and till now they are just being amazing in their own kind. Every person on this planet earth must know about them and their benefits and demerits. But main issue with bitcoins are they are just ignorant to people. This will take time to overcome banks.

BITCOIN - are Trust less, does not require trust of any one entity or corporation to work. Even the creator himself cannot manipulate it to his own advantage on his own. Cheap to send transactions with no extra charges between countries, money can be sent with ease from one end of the world to another in seconds. Bitcoin debit cards exist to serve as a link between bitcoin and the traditional system, allowing its use even with merchants who do not accept bitcoin directly. Free from the manipulation which plagues the traditional baking system. One easy to use currency that is global. Acceptance gradually increasing. Aside of that bitcoin are not accepted by the majority of merchants currently, although some major ones support it. Blockchain databases are expensive to secure, the power consumption of the entire bitcoin network is enough to power a small country, although this is well distributed.Has legal issues in some countries, such as Ecuador. Provides an easy way for dishonest entities to move money with limited ability to trace them. The inability to reverse transactions in the event of fraud. The risks of a  51% attack, especially in the case where large mining pools hold a large quantity of the networks mining power, this has been somewhat negated with the opening of many more mining pools

BANKS - are already an established system. Bank Cards are accepted nearly everywhere. Ability to charge your money back in the event of fraud (although this feature can also be used for fraud). Use of cash does not require a network connection or electricity. Open to manipulation of figures. Fractional reserve banking makes this a higher risk option. Inflation slowly can erode value of held cash. Lack of transparency about how the system runs. Bank fees can be expensive, especially for businesses. Banks in different countries often work differently and linking them can be tedious, and many use different currencies.

For me bitcoin cannot replace the bank because it is already stablished and commonly used by the people.