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Johannson
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April 19, 2018, 02:43:53 PM
 #1

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?





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April 19, 2018, 02:56:46 PM
 #2

as far as I think investing in bitcoin and bank are equally good, but for me it's still nice to save money in bitcoin than we keep it in the bank, because the opinion of the dibank is very low compared to bitcoin.
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April 19, 2018, 03:12:01 PM
 #3

So what is the effect you are talking about? Because if you are talking about a negative effect I don't see one on Youtube to telivisions. T.V.s still has a lot to offer from good shows you won't watch in youtube like Breaking Bad, Game of Thrones, The Walking Dead, yes Youtube channels can review episodes of shows but they can never shor the full content of the show. Both of them offer different kinds of content as they are protected by copyright laws which Youtube strictly follows. Yes Youtube has a lot of visitors but TV channels are affected by their video streams.

So here we are linking Banks to Bitcoin again. Banks are not scared of Bitcoin and if they are not accepting deposits coming from Exchanges it is because of regulation filed by their government, it is not their own decision. Banks main way of earning is Lending money and storing your money is just a part of their business. As long as someone needs a loan from them they won't be threaten from Bitcoin.

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April 19, 2018, 03:29:14 PM
 #4

So what is the effect you are talking about? Because if you are talking about a negative effect I don't see one on Youtube to telivisions. T.V.s still has a lot to offer from good shows you won't watch in youtube like Breaking Bad, Game of Thrones, The Walking Dead, yes Youtube channels can review episodes of shows but they can never shor the full content of the show. Both of them offer different kinds of content as they are protected by copyright laws which Youtube strictly follows. Yes Youtube has a lot of visitors but TV channels are affected by their video streams.

So here we are linking Banks to Bitcoin again. Banks are not scared of Bitcoin and if they are not accepting deposits coming from Exchanges it is because of regulation filed by their government, it is not their own decision. Banks main way of earning is Lending money and storing your money is just a part of their business. As long as someone needs a loan from them they won't be threaten from Bitcoin.


Just about decentralizing content: now you can make videos and have people watching then, you can make money, marketing , and all these sorts of thing without being on TV.  Youtube is established.
With Bitcoin you can trade without a bank. Bitcoin is not established as yt is.
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April 19, 2018, 03:48:46 PM
 #5

Just about decentralizing content: now you can make videos and have people watching then, you can make money, marketing , and all these sorts of thing without being on TV.  Youtube is established.
With Bitcoin you can trade without a bank. Bitcoin is not established as yt is.

youtube is completely centralized! it is controlled by a company (Google) and they control and own your content even if you created and shared them there. and they can close down your account and delete all your content if they see fit.
a decentralized video sharing would be something like torrent where you have to actually share your content and nobody can block it because it is stored by multiple peers.

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April 19, 2018, 04:13:40 PM
 #6

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?

Yeah, your post about youtub and television is true. Youtub brought an alternative to visual media and I think that is going to replicate again in the financial system where digital currency transaction would be the preferred choice because it is easier, faster with high level privacy.

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April 19, 2018, 04:50:10 PM
 #7

A couple of banks are beginning this year which means it isn't that far off. But to have the impact that Youtube did on streaming and creating television, I would think that development would take at least 5 years if not closer to 10. Switching banks is a major thing in life and you don't want to do it and not be absolutely sure. For that reason I think the trust will take a long time to build but once the trust is built then the transfer over will be much simpler.

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April 19, 2018, 05:52:21 PM
 #8

So what is the effect you are talking about? Because if you are talking about a negative effect I don't see one on Youtube to telivisions. T.V.s still has a lot to offer from good shows you won't watch in youtube like Breaking Bad, Game of Thrones, The Walking Dead, yes Youtube channels can review episodes of shows but they can never shor the full content of the show. Both of them offer different kinds of content as they are protected by copyright laws which Youtube strictly follows. Yes Youtube has a lot of visitors but TV channels are affected by their video streams.

So here we are linking Banks to Bitcoin again. Banks are not scared of Bitcoin and if they are not accepting deposits coming from Exchanges it is because of regulation filed by their government, it is not their own decision. Banks main way of earning is Lending money and storing your money is just a part of their business. As long as someone needs a loan from them they won't be threaten from Bitcoin.


Just about decentralizing content: now you can make videos and have people watching then, you can make money, marketing , and all these sorts of thing without being on TV.  Youtube is established.

So what you are saying is that there is no point on advertising on tv channels now because there is Youtube. If that line of thinking is correct then why are there still commercials being shown in televisions? Why are there still advertisements being shown within the show? Why are they even airing something in the first place? It is because even if you can show your ads in youtube there are still other target audience out there that are watching programs in a television also there are older age group where they prefer watching there tv sets rather than streaming something in their phone or tablet.

With Bitcoin you can trade without a bank. Bitcoin is not established as yt is.
Uhmm You ca even trade in the stock exchange without a bank, you only need one if you are either funding or withdrawing your money from a broker. Just like some cryptocurrecy exchange where they have an option to wire transfer your money to your bank account.

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April 19, 2018, 05:59:43 PM
 #9

So here we are linking Banks to Bitcoin again. Banks are not scared of Bitcoin and if they are not accepting deposits coming from Exchanges it is because of regulation filed by their government, it is not their own decision.

My country has not regulated Bitcoin yet and even there isn't any clear law describing which tax citizens should pay for their income from cryptocurrencies (including mining, trading, selling). Most of the banks here block transfers to crypto exchanges for additional "security". Unfortunately, some of them stop providing their service to their clients if they sell and buy cryptocurrencies using fiat. Hopefully, Bitcoin ATMs are slowly more common here. Our Ministry of Finances finally declared that they will take care of cryptocurrencies soon.

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April 19, 2018, 06:06:12 PM
 #10

The best way is to invest in both of them, but so far now my priority is to have an investment in bitcoin, that is what I am focusing right now, as it is not profitable to invest in banks compare to bitcoin, since banks are just offering a limited interest rate for your investment.

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April 19, 2018, 06:36:10 PM
 #11

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?



I agree 100% with you. Bitcoin and the blockchain technology will indeed shape the financial future ahead of us. We are only still scratching the surface of what its potential is.

I also agree that the impact that it will make on everyday's life will be more and more evident.

Blockchain technology is really such a great change in the way we even conceive money and exchanging that it will prove to be an invention the likes of Internet itself, telephone, tv, radio and the likes.
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April 19, 2018, 07:07:30 PM
 #12

Luckily here in my country, our government did not put any law regarding bitcoin and other cryptocurrencies. But our banks refusing bitcoin transaction to transfer into a bank account if they noticed that it is related to cryptocurrency transaction they cut your account in the bank.

Well, I must prefer both investment or storing my currencies, I have a bank account and also I have a wallet for my cryptocurrencies wallet.
So far I have known it better to have both just go with the flow.
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April 19, 2018, 07:19:34 PM
 #13

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?



Very hardly it takes around 10 years from present time. Banks will be optional for the people to have the fund but international corporates and Governments try to pull down the bitcoin for sure as they are that much techy and if government steamline the payment in bitcoins then all should be under one pipeline.
Those corrupted people will not allow bitcoin to grow up.
Still we have more potential projects comes to market and they will get the marketplace in control mate.
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April 19, 2018, 07:21:22 PM
 #14

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?

One day... may be.

I think that this is not possible at the current usability of crypto-currencies.
Crypos are still focused on a tech nerd and the technology is far away from the usability for mass adoption.

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April 19, 2018, 07:25:27 PM
 #15

It's hard to say that bitcoin will ever be able to replace banks like youtube did to tv because countries need regulations and the thing with bitcoin is that you just cannot regulate it, no matter how hard you try.

Quote
So how far from that  you guys think we are now?

Only if the government makes a similar token of bitcoin and start using it in the country for various transactions then it should work ( with bitcoins it will surely not work )
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April 19, 2018, 07:38:56 PM
 #16

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?








Just look at the number of investors pitched into crypto currencies than share markets with local currencies. This would confirm you the result. Investors have turned towards crypto currencies. The local currencies moments and circulation have decreased compared to days when crypto currencies were not in exist. Yes, crypto currencies especially Bitcoin will make the same effect to banks that youtube did to television (at least). I am sure it began long back. We are far ahead to this.



























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April 19, 2018, 07:43:43 PM
 #17

Since your reasoning is so vague that it is difficult to understand what is at issue, but the title of the topic is bitcoin and banks, I can say that banks have existed for a very long time and will exist as long as the state exists. Banks are an indispensable attribute of each state. Crypto currency can not replace banks and can not affect them so much that banks have stopped their activities or significantly changed it. Crypto currency and banks will be forced to exist together and in parallel with each other.
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April 19, 2018, 08:07:37 PM
 #18

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?
Nah I don't think so bitcoin will never replace bank like youtube did to television (though youtube is not completely replaced tv) . Instead of adopting bitcoin they will make their own centralized cryptocurrency, or just adopt blockchain technology. If you ask banker why they afraid of Bitcoin the answer must be same as post office afraid of email service.
Let's be real this will never happen.
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April 19, 2018, 08:15:45 PM
 #19

Let's hope that it is not the case, as youtube didn't do a lot of damage to the television, as most of the people still watches television shows on a daily basis.
A better example is what video did to the radio, people stopped listening to radio as they can both watch and listen to videos.
Bitcoin is still not prepared to overcome the traditional currencies and it can't still fight against the governments in order to get legalization.

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April 19, 2018, 08:20:51 PM
 #20

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?

We will never get there. Can Bitcoin help you with a mortgage to buy a house? Bitcoin may put PayPal out of business, but banks will always be there. There is only one aspect of banks (money transfer and payments) which will be affected by bitcoin and even in this case, they are fighting back.


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April 19, 2018, 08:59:02 PM
 #21

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?

We will never get there. Can Bitcoin help you with a mortgage to buy a house? Bitcoin may put PayPal out of business, but banks will always be there. There is only one aspect of banks (money transfer and payments) which will be affected by bitcoin and even in this case, they are fighting back.
Banks is a good way to save money money. It will not lose its use because bitcoin is there. Do you want to keep your money always for investment, and keep it on online wallet? I rather diversify it. My profit gain put into the banks as savings and my investment in bitcoin is always place where it is profitable. Bitcoin and bank has there functions uniquely which the people find it useful so that no one will gone because the other exists.

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April 19, 2018, 09:33:40 PM
 #22

Well, that thing is hard to determine perhaps bank and bitcoin are too different. It's proven many years that banks are secured in terms of holding and depositing money while bitcoin is highly volatile of all those in the bank. It only differs there characteristics in payments and money transfer.
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April 19, 2018, 10:06:00 PM
 #23

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?

I don't think that bitcoin will completely replace banks IMHO. Most likely, bitcoin will serve as the primary alternative to the fiat banking system. I guess you could draw the analogy of youtube and TV to bitcoin and banks, because the pair coexists.

I do see a significant decrease in satisfaction with banks and the fiat banking system in the coming years, and a massive increase in adoption rate for bitcoin. When people start to realise that everything they own is literally controlled by a centralised entity, they will start moving to bitcoin.

But again, banks won't completely disappear. Even bitcoin banks may start to appear if mass adoption starts happening.

All of this won't happen overnight. There's a gradual process that may take years or decades, just like how the internet progressed to where it is right now.

 
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April 19, 2018, 10:29:30 PM
 #24

Well, that thing is hard to determine perhaps bank and bitcoin are too different. It's proven many years that banks are secured in terms of holding and depositing money while bitcoin is highly volatile of all those in the bank. It only differs there characteristics in payments and money transfer.
Although bitcoin is showing great advantages in terms of payment and finance but I think it is still very difficult to be able to replace the bank because the number of people know and trust the bitcoin is still very limited processing. Bitcoin can exist as a valuable asset and is increasingly gaining in the investment community.
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April 19, 2018, 11:26:27 PM
 #25

In what aspect of banking are you relating bitcoin to? Bitcoin will not replace the key roles of a bank, specially in stimulating the economy since you cannot create bitcoins out of thin air. But if in the sense of storing your hard-earned money, bitcoin is a serious contender since many people would opt in taking the chance of getting some profits while idling their money compared to the 0.25%-1% interest rate the banks are offering for a deposit. Currently, we're still far from getting some solid number of people wanting to ditch the banks and go full bitcoin, but once people get educated, most of them will consider this option since it offers good rates.

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April 19, 2018, 11:26:52 PM
 #26

as far as I think investing in bitcoin and bank are equally good, but for me it's still nice to save money in bitcoin than we keep it in the bank, because the opinion of the dibank is very low compared to bitcoin.

actually both equally need each other and fill each other with the advantages and disadvantages of each, but the matter of investment of course very clear it is better with bitcoin than with a high enough price and the need with bitcoin is very high, but the impact is also very big if you lose compared with banks certainly safer and fewer losses.

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April 20, 2018, 04:56:22 AM
 #27

I think both of them are good and it help people in economic, crypto help personal economic situation and the bank help the country's economic, so I think we need both of them, the different perspective from crypto and bank is the one that complete each other and make people's life better and easier, I really hope bank and crypto can grow together


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April 20, 2018, 05:29:07 AM
 #28

For me as much as what the popularity of bitcoin in the world will not make the bank a bit erased, it will be the same at the same time nothing is not good both, the two can still be together for the future, bitcoin still need a bank for people get all the money in bitcoin, but bitcoin has everything and is very profitable in terms of investment, I do not think like youtube and television but I think it will run as usual no one has problem in this thread.

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April 20, 2018, 08:08:39 AM
 #29

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?

Thats really interesting thought I would say. However I do think that this is not the case yet as we still dont have that much bigger out reach as it should have been to replace the banks with BTC in terms youtube to the TV!

We lack one point here. Whenever we have to get to the BTC then we need to go though the banks as they are first line of transaction agents for us and we cant buy or sell against the fiat currency if we dont have the banks. You do understand that part of it isn't it? We need to surpass this barrier so that we can end up having the nest results.

 
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April 20, 2018, 09:06:20 AM
 #30


I also believe that Bitcoin and other crypto currency like ripple have so much to do concerning bank, money, finance and economics just as youtube did in terms of television and this the reason why I feel so sad about the FUD said from the governments, regulators etc.

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April 20, 2018, 09:18:55 AM
 #31

I do believe that bitcoin or cryptocurrency can distupting banks bussiness. With fast transfer and lower fee transaction and anonym, bank will not able to compete that bitcoin advantages. But in other way, i do believe that bank lobby is obstacle for bitcoin development

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April 20, 2018, 09:26:41 AM
 #32

It is sure that bitcoin is extremely valuable and brings great solution that the banks and our government could not provide us over the years.

However, I see both banks and bitcoin going hand in hand anyway, just the same way Youtube is going hand in hand with TV. The way the OP has portrayed it, it is not like Youtube scrapped the usage of TV, as people still make use of their TV till date, and those who are Internet savvies making use of Youtube as well with nothing changing much.

So, if we are really to compare with that, I still see banks in action even in the long run, except they would have been able to find a way to adapt with the system which most of them are already looking into the blockchain technology anyway.
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April 20, 2018, 09:28:22 AM
 #33

Throughout its history, banks act as intermediaries. If you compare Youtube and television, in this case, such a function is not available.Each performs its function.As for banks, they treat cryptocurrency as a competitor..They are afraid to lose clients and to lose considerable profit.

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April 20, 2018, 09:37:45 AM
 #34


I also believe that Bitcoin and other crypto currency like ripple have so much to do concerning bank, money, finance and economics just as youtube did in terms of television and this the reason why I feel so sad about the FUD said from the governments, regulators etc.

It is because that banks are really afraid how disruptive bitcoin technology it. But if you look closely, they can co-exist, works side-to-side just like the comparison between YouTube and Television today.

For me as much as what the popularity of bitcoin in the world will not make the bank a bit erased, it will be the same at the same time nothing is not good both, the two can still be together for the future, bitcoin still need a bank for people get all the money in bitcoin, but bitcoin has everything and is very profitable in terms of investment, I do not think like youtube and television but I think it will run as usual no one has problem in this thread.

Exactly, banks have been with us throughout history and it someone is thinking the crypto will replace and make them obsolete then they are wrong. The only problem I'm seeing with banks is that they really don't want any competition but since crypto offers and its hot on their tail, they have to do everything to eliminate it.

 
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April 20, 2018, 09:57:40 AM
 #35

Throughout its history, banks act as intermediaries. If you compare Youtube and television, in this case, such a function is not available.Each performs its function.As for banks, they treat cryptocurrency as a competitor..They are afraid to lose clients and to lose considerable profit.

But is already an unfortunate omen for the banks and their CEOs . It is already happening that I have heard so many people enjoying the transactions of cryptocurrencies either because of its comfortable ways and secret identity. I see with time, the competition will be very clear.

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April 21, 2018, 05:18:24 PM
 #36

I do believe that bitcoin or cryptocurrency can distupting banks bussiness. With fast transfer and lower fee transaction and anonym, bank will not able to compete that bitcoin advantages. But in other way, i do believe that bank lobby is obstacle for bitcoin development
It is disrupting but I do not see it eliminating. The analogy OP mentioned if he is trying to refer to what I want to assume he was referring to is not as he implies. TV is still in existence and YouTube is doing its thing and I see this happening.

Banks will also be in existence and even if there’s a need, they will find a way to integrate the blockchain technology or even in a way legalize and regulate bitcoin, so I do not see how this would be a problem for them. I believe bitcoin will keep being a decentralized currency, banks will be a centralized entity and both will still be operational even in the long run.
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April 22, 2018, 03:58:17 AM
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 #37

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).

Many banks are rolling out new *features* to make them more competitive with bitcoin and crypto. Faster transactions, lower fees, better service. Of course in developing nations there are still many banks who refuse to lower fees or implement new measures which make them more competitive. In those cases, they illegalize bitcoin and attempt to repress the technology similar to how oil companies repressed nickel metal hydride batteries to prevent electric cars from being viable in earlier eras.

The big question here could be what happens to banks if either the dollar or euro crash under the collective burden of trillions in debt. A significant portion of bank holdings must be denominated in fiat which could make them vulnerable to a massive crash if things go south for the mad printing presses creating ever increasing amounts of paper out of thin air. I think bitcoin and crypto could be insulated from a crash. Banks may not be so lucky.

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April 22, 2018, 05:14:45 AM
 #38

 in my country, the government never put any law regarding bitcoin and other cryptocurrencies. But our banks refusing bitcoin transaction to transfer into a bank account if they noticed that it is related to cryptocurrency transaction they cut your account in the bank.   Banks are trying to fight crypto currencies because it is a competitor to them,  and bank haven't had competitors from onset.
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April 23, 2018, 06:48:19 AM
 #39

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?
Lol. I really like that comparison. We are actually getting closer by the day and from the look of things, the banks have been feeling threatened even if they do not want to show it and still want to prove they have the power and they are still in control.
I always love the way it makes them feel anyway. In the long term, bitcoin is going to really expose some of the bullshit the banking system has always been putting us through and that simply shows we are really going to be up for a good ride in the long run.
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April 23, 2018, 08:13:04 AM
 #40

Many banks are rolling out new *features* to make them more competitive with bitcoin and crypto. Faster transactions, lower fees, better service.
Definitely. I think that Bitcoin actually forced them to improve services significantly, which is a shift that happened just a few years ago, which I don't consider to be coincidence. In terms of usability and convenience, banks are top notch with their services already. If they allow people to transfer money from one place to another instantly as well, at first in-country, then that alone would be a massive game changer. I am however not sure when banks will be offering instant transfers, and I am not even sure if banks legally are allowed to do so if ever.

The big question here could be what happens to banks if either the dollar or euro crash under the collective burden of trillions in debt. A significant portion of bank holdings must be denominated in fiat which could make them vulnerable to a massive crash if things go south for the mad printing presses creating ever increasing amounts of paper out of thin air. I think bitcoin and crypto could be insulated from a crash. Banks may not be so lucky.
Unfortunately, what happened previously when banks suffered from their own incompetence and greed, the tax payer was presented with the bill, so I don't think in this scenario things will be any different. It's safe to say that banks, especially those who are considered to be too big to fail, will be kept up with a very large portion of our own money, where if there is a very desperate situation, we might be subject to a fresh haircut as well, which is a damn shame and pure theft. Who helps us when we go bankrupt? No one. It's an unfair system that whatever happens, is against the people. I am glad that a large portion of my wealth sits in Bitcoin. I significantly lowered my exposure to this rotten system.

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April 23, 2018, 09:36:04 AM
 #41

I think that bitcoin will replace the banks. And build a new economy. The main purport is the pump dump
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April 23, 2018, 11:14:12 AM
 #42

So how far from that  you guys think we are now?

As far as YouTube and cable televisions are concerned, both of them do the same thing i.e display content based on viewership.
With cryptocurrencies and banks it is a totally different concept altogether. While most cryptos work on a decentralised consensus, banks are always centralised with a lot less control over doings.

Yet, I can still relate to your words and say that while YouTube is accepted across the globe over cable televisions, the same can't be said for cryptos.

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April 23, 2018, 12:33:30 PM
 #43

Youtube have not make television to go into extinct. Youtube and television are existing together. In My country buying data in order to have access to internet is very expensive so most people do not watch youtube. The bank and bitcoin will always exist together because most people have not embrace bitcoin yet.

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April 23, 2018, 12:54:10 PM
 #44

Youtube have not make television to go into extinct. Youtube and television are existing together. In My country buying data in order to have access to internet is very expensive so most people do not watch youtube. The bank and bitcoin will always exist together because most people have not embrace bitcoin yet.


Bitcoin and banks respectively has its own unique feautures and they have financial benefits in their own ways although one is better than the other when it comes to financial gains and that is bitcoin. Though banks has proven its value over times , bitcoin is still shaking their industry and that is something they have to work for. However, this doesnt mean tha the two can't work together bcause in every business there is always a give and take situations.

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April 23, 2018, 01:14:20 PM
 #45

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?
I understand what you mean, but if you talk about "bank" there isn't term extinction . Banks can order the world and adapt while television is just a medium, just as radio has become extinct.
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April 23, 2018, 01:15:25 PM
 #46

Youtube have not make television to go into extinct. Youtube and television are existing together. In My country buying data in order to have access to internet is very expensive so most people do not watch youtube. The bank and bitcoin will always exist together because most people have not embrace bitcoin yet.


Bitcoin and banks respectively has its own unique feautures and they have financial benefits in their own ways although one is better than the other when it comes to financial gains and that is bitcoin. Though banks has proven its value over times , bitcoin is still shaking their industry and that is something they have to work for. However, this doesnt mean tha the two can't work together bcause in every business there is always a give and take situations.

Well times are changing now. Youtube didn't make tv go instinct but the internet certainly made the use of tv a lot less than it was before. You can download television shows and watch it at your convenience whenever you want through the internet. That's likely how it will be for crypto and banks. Of course banks will not easily be devalued, but as the digital currency market grows, expect more people to jump ship

 
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April 24, 2018, 08:27:29 PM
 #47

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?

Thats really interesting thought I would say. However I do think that this is not the case yet as we still dont have that much bigger out reach as it should have been to replace the banks with BTC in terms youtube to the TV!

We lack one point here. Whenever we have to get to the BTC then we need to go though the banks as they are first line of transaction agents for us and we cant buy or sell against the fiat currency if we dont have the banks. You do understand that part of it isn't it? We need to surpass this barrier so that we can end up having the nest results.
Yeah, it is interesting but in the reality, it is not really true the way the OP mentioned. YouTube has been sure effective with dishing out a lot in terms of video posts which of course makes it easy for anyone to share anything easily without having to go through the TV, but YouTube has a target market and TV also do. In one word, YouTube did not end up making TV useless as they are both serving their own purposes in their own way and that is how the banks and bitcoin is going to be like.
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April 24, 2018, 09:42:11 PM
 #48

I am not sure of your question. what effect do you mean, I also do not really understand. but I see youtube today is not much different from the television, especially from the side of the ad, although we can just pass after 4 seconds, I started to feel less comfortable with youtube at this time.

different with bitcoin vs banking, these are clearly two very different things, maybe more exactly Bitcoin vs the country's currency. but indeed, the systems and technologies used by bitcoin are the main attraction for the banking world, the blockhain. Many banks are currently starting to study blockchain, in order to be in the application to the banking world. it seems we both need to learn about the history of bitcoin birth.

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April 28, 2018, 06:00:05 PM
 #49

Yes, Bitcoin poses a great threat to the existence of the banks. The very foundation of Bitcoin is based on concept of decentralization or elimination of intermediaries which are banks. Further banks provide a very low rate of interest on the savings which are eaten up by the inflation. But Bitcoin provide high returns although with high risks. Bitcoin has started showing its effect on the banks which is evident from the unfriendly attitude of banks toward Bitcoin. Indian central bank RBI has decided to flush out cryptocurrency vendors out from the system.
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April 28, 2018, 08:50:27 PM
 #50

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?






In accordance with your opinion, bitcoin will affect the bank. but so far we do not know any positive or negative effects. we can see whether we invest bitcoin through bank transactions. so I think there is something mutually beneficial between bitcoin and bank.
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April 28, 2018, 09:09:16 PM
 #51

I am sure that banks will adapt. Banks have many products which give them income I mean that it is not only fee for transactions and plastic cards.
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April 28, 2018, 09:32:34 PM
 #52

YouTube never replaced television. Same applies for bitcoin to banks. They aren't meant to replace them,they are more like substitutes. Banks have a huge role,and they are organisations,and they are financial backbones of any economy. Meanwhile,bitcoin is a visual cryptocurency. There is a huge difference between the two. Know the difference.


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April 28, 2018, 09:55:24 PM
 #53

 Real money is totally a different form of Currency and bitcoin is also another form of Currency. Bank helps manage real money and as real money is also very important Banks will exist. Banks also provide many other services which Bitcoin or blockchain can not provide. Some of them are loans, mortgage, savings account, debit accounts and many other things even i don't properly know it. Therefore banks will exist for days to come.
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April 28, 2018, 10:03:26 PM
 #54

Sooner or later banks will offer crypto accounts to their customers, maybe allowing payments in crypto but always in accordance with their exchange rates to national currency.

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April 29, 2018, 12:16:25 AM
 #55

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?







I am believe when peoples adapting bitcoin and accepting bitcoin as payment and for transaction, people will leaving banks. Its because when we using bitcoin for transaction, we get lower fee on transaction and we dont have to pay monthly fee

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April 29, 2018, 10:23:40 AM
 #56

Johannson probably implied in view of the fact that bitcoin would make a good competition to the banks and eventually win them. Only comparison bitcoin and banks with YouTube and television is not quite successful. But I agree with the author, bitcoin will push banks, at least they will make healthy competition.
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April 29, 2018, 12:07:55 PM
 #57

If you compared the effect of bitcoin to the banks the same as youtube to television in a way that they both coexist and benefits each other then right now, bitcoin does not affect the banks that much because only few have idea about it.

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April 29, 2018, 01:09:48 PM
 #58

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?






I think that in future we will be able to use money and crypto at the same time so thanks to that banks and market will be at the same level and we won't see as much diffrent as youtube x tv.

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April 29, 2018, 01:15:33 PM
 #59

People for some time know thinks that Bitcoin can compete to the business of banks are offering, well your wrong about it. Exactly what Bitcoin can offer that banks couldn't? The only notable thing is of course the ability to earn from your own money but other than that I cannot see Bitcoin as a threat to their main business which is lending their money. Banks aside from storing your money in pay of little interest are also loaning out your money for a bigger interest. Their business is guaranteed profit as if the loanee does not have the ability to pay their debt then the banks have the right to claim their property as collateral.

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April 29, 2018, 01:40:48 PM
 #60

This statement was made in a documentary from a long time ago that I watched.
Can you give the link of that documentary? I'm interested to watch it but still good catch you've got there that's also the same thing what others see with the comparison.
So how far from that  you guys think we are now?
I guess we are still on 90's of internet where before internet wasn't too popular and many are doubtful with it. So few more years left and we are going to see it gain popularity and reputation and it will go through millennium of internet.




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April 29, 2018, 02:01:31 PM
 #61

 Nothing will happen to banks even if Bitcoin becomes more dominant in the future because to tell you the truth transactions fees are only the secondary income of Banks, what their main income comes from interest being paid by people who are borrowing money from them and these involves people and large corporations. Aside from that they are the ones who also handle the IPOs of several companies who wants to enter the stock market. As you can see banks will still have a good future. Banks can quickly adapt to any threats that they detect.
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April 29, 2018, 02:06:41 PM
 #62

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?

Bitcoin will reduce the need for banking services especially for the payment online, if it continue its success and get supported by more companies and marketplaces online. However people still use banks right now more than BTC because they are forced to deal with fiat currencies in most cases offline.

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April 30, 2018, 05:43:47 PM
 #63

as far as I think investing in bitcoin and bank are equally good, but for me it's still nice to save money in bitcoin than we keep it in the bank, because the opinion of the dibank is very low compared to bitcoin.
What is there to invest in the bank? Since you have been saving in the bank, has there ever been a time the banks really make you feel the worth of your savings but instead take away from you. The banking system has always been the most corrupt and it is just unfortunate that people are beginning to see that truth all over the world with this current evolution. I believe bitcoin is really going to make all of them pay for all their past exploits.

I guess we are still on 90's of internet where before internet wasn't too popular and many are doubtful with it. So few more years left and we are going to see it gain popularity and reputation and it will go through millennium of internet.
As bitcoin is still in its early stage, it must be too early to expect bitcoin replacing traditional banking system. But, it will happen how traditional mail communication was replaced by phone and email.
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April 30, 2018, 07:16:54 PM
 #64

As bitcoin is still in its early stage, it must be too early to expect bitcoin replacing traditional banking system. But, it will happen how traditional mail communication was replaced by phone and email.

Bitcoin doesn't need to replace the traditional banking system, because that's just impossible since banks and governments can progress through crypto just as much as we do. The thing here is that we shouldn't focus on what banks do, but on how we can shift away from anything that's permission based. Banks don't care about their customers, and we in the same way shouldn't care about them. It's time to move forward.

In the same way I also would like to see people move away from centralized crypto exchanges and online wallet providers. In some cases they do offer convenience, but what's that worth when you are subject to so many rules and regulations? The only thing that's difficult to combine with decentralized exchanges is fiat. Currently you can already deal with fiat on decentralized exchanges, but the trades from fiat to crypto and vice versa are not decentralized, only crypto to crypto trades are.

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April 30, 2018, 07:29:50 PM
 #65

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?

Bitcoin will reduce the need for banking services especially for the payment online, if it continue its success and get supported by more companies and marketplaces online. However people still use banks right now more than BTC because they are forced to deal with fiat currencies in most cases offline.
It is part of the new technology that will make the market and bank system goes crazy, they will put more advancement that we don't much see in banks.

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May 01, 2018, 04:07:30 PM
 #66

Bitcoin will not replace the key roles of a bank, specially in stimulating the economy since you cannot create bitcoins out of thin air.
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May 01, 2018, 04:36:45 PM
 #67

It's hard for Bitcoin to ruin the banking system. But within 10 years the whole banking system will collapse and then it will be interesting to watch the apology of the world. Not the fact that this world will be the best, the prophecy of Luka Magnotti can be fulfilled Wink
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May 03, 2018, 03:18:45 PM
 #68

Since your reasoning is so vague that it is difficult to understand what is at issue, but the title of the topic is bitcoin and banks, I can say that banks have existed for a very long time and will exist as long as the state exists. Banks are an indispensable attribute of each state. Crypto currency can not replace banks and can not affect them so much that banks have stopped their activities or significantly changed it. Crypto currency and banks will be forced to exist together and in parallel with each other.

At the current state of bitcoin, I see that it is growing in price and in people who know it. More and more often you see that people are beginning to know about bitcoin. I believe that bitcoin can’t take over the banks of the world for two reasons: 1.Centralized banks run the world – This means that they basically will not allow this to happen.2.Stability – The bitcoin as a currency itself is not very stable in price meaning people who are rich or poor would not want to risk the fall of the coin ruining their income.
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May 03, 2018, 07:53:15 PM
 #69

I think that bitcoin will replace the banks. And build a new economy. The main purport is the pump dump
I think that you do not really understand the work of banks and their possible relationship with bitcoin. Crypto-currency banks are not scary. It can not replace the work of banks. The banks have their own specific tasks and functions. First of all, it is the servicing of the country's economy, its financing and credit and financial activities. Crypto currency will not be able to carry out this work, which means that banks have nothing to fear from it. The state will always support the banking system in the case of conflicts between banks and the crypto currency, because the state can not exist without banks either. Now bankers are simply afraid of crypto-currencies, as it takes customers away from banks and bankers partially lose their profits. However, the banking system as a whole is not dangerous.
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May 03, 2018, 08:27:46 PM
 #70

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?






I think we still have a long way to go to be honest, i mean we did establish that bitcoin has become popular especially in the past year when it skyrocketed like crazy and every media in the world was talking about it, but as long as we are treating bitcoin as a type of investment and not as a legitimate currency that needs to be traded it still won't replace banks, people need to realize the real purpose of bitcoin so it can actually change their lives.

 
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May 03, 2018, 08:38:01 PM
 #71

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?

Bitcoin will reduce the need for banking services especially for the payment online, if it continue its success and get supported by more companies and marketplaces online. However people still use banks right now more than BTC because they are forced to deal with fiat currencies in most cases offline.
It is part of the new technology that will make the market and bank system goes crazy, they will put more advancement that we don't much see in banks.
Even there is much advancement in technology, bank is still a bank where you can keep your money safe from phishing. Most of the investors choose banks to save their money and only take bitcoin for investment because big amount of money catches the eye of the hackers. Bank will still exist even bitcoin is being used and time for crypto to exist all over the world. You cannot find safest place to put your money but on the offline services.

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May 03, 2018, 09:21:23 PM
 #72

if bitcoin will be like that I am not a problem because it is certainly no problem,
except if the banks in the world often criticize or even berate bitcoin and it is precisely the less good

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May 03, 2018, 10:35:38 PM
 #73

For me investing in bank is good but you are not earning high because if you put your money in savings account you earn a small amount so that bank and bitcoin is not same. Bitcoin you can earn higher but the situation here was to risky because the value of bitcoin was not stable but there is possible that you can earn if  you invest in the low value so that you can earn more in bitcoin than banks.

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May 03, 2018, 10:52:48 PM
 #74

but as long as we are treating bitcoin as a type of investment and not as a legitimate currency that needs to be traded it still won't replace banks, people need to realize the real purpose of bitcoin so it can actually change their lives.

Bitcoin's market needs to mature in order to get people's mentality to change and use it as currency. That being said, people keep focusing on Bitcoin to become a 'proper' currency, while in reality it's only one aspect of Bitcoin. Bitcoin won't fail or lose popularity if its currency aspect doesn't turn out to be used much. Gold is the perfect example of how something that's still being seen as currency doesn't need to function as such. Bitcoin in almost every aspect offers more than gold does, and can be upgraded to become even more future proof, and that will definitely play out in its advantage in the coming years. Bitcoin's real purpose is functioning as tool to help you do what you want it to do, and that without being subject to centralization.
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May 03, 2018, 11:01:29 PM
 #75

Yes I agree with you. But if seen, bitcoin may interfere with financial stability in banking governance, with high volality risk because bitcoin value is determined by supply and demand interaction. Currently, some countries claim the negative effects of bitcoin, probably because bitcoin does not have price stability when transacting like digital money is exchanged for paper money (real) and it is difficult to record incoming and outgoing finances. When viewed in terms of positive, bitcoin has advantages compared with real financial transaction system, this is causing a ban on bitcoin in some countries. This is just my opinion

 
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May 04, 2018, 05:57:24 AM
 #76

By that logic, no more TV shows should have been popular, no new series would have arised and no advertisements would suatain. But that certainly is not the case.
Youtube have not done much damage on tv, tv has its own place for people who love it. Similar is the case with banks and bitcoins. Bitcoins have done nothing that could simply replace  banks. Its just a digital form of money. Bamks have alltogether a vast oceam of tasks and services to  offer.

Now peopl want the services but theh dont want to pay the fees. Thats what has led to disliking for the banks. But in reality, banks safeguard our money in the most efficient manner possible. And bitcoin is not in any way a rival for banks. You would anyways need coalition of both for a smooth exchange and trade.



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May 04, 2018, 10:47:58 AM
 #77

Dude, what you said just makes no single sense. I don’t see anything that YouTube did to Television. Even in today’s world where there is internet people still choose television over YouTube. People who don’t have YouTube or smartphones for internet still has Television. You will never go to average man’s house without seeing a television. Television is always one of the number one things to buy when you’re buying properties, so tell me how YouTube has taken over? Yes we watch YouTube, but we watch television more than we do YouTube, unless maybe you don’t have a television in your house.
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May 04, 2018, 11:36:33 AM
 #78

If you are intereste in my personal opinion, I think that there is a time coming, when banks will learn how to get their profit in bitcoin economy too Smiley
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May 05, 2018, 08:49:54 PM
 #79

Many bank fear Bitcoin. And there are more reason present behind this. People mainly use for secure money transaction. But Bitcoin provide better secure money transaction facility with more advantage then bank due to this many people using Bitcoin instead of bank. Bitcoin provide its user an uninterrupted money transaction facility which is untraceable too. While bank doesn't provide such facility to its user. And in order to use bitcoin transaction their is no need to give full information of sender and receiver. And bitcoin provide faster transfer facility with low transaction cost. These thing makes Bitcoin better than bank ;)q
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May 05, 2018, 10:42:05 PM
 #80

Bitcoin is a digital currency that, in the words of its sponsors, “uses peer-to-peer technology to operate with no central authority or banks.” By its very definition Bitcoin seems well positioned to kill off central banks. Could it? Would it? Should it? Like just about everything else involving finance, the topic of central banks and their potential replacements is complex ...
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May 06, 2018, 02:57:22 AM
 #81

As Bitcoin grows, the more fearful they are. As the number of investors pouring into the BTC will be larger, banks will give up, but the fact is that banks do not give us high profits, although they are safe. But people like to invest high profits.
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May 06, 2018, 03:26:53 AM
 #82

Investing in bitcoin and in bank can give you a profit. The difference is the profit that you gain is lesser in bank while in bitcoin, you can't tell when it will goes up or down.
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May 06, 2018, 03:41:11 AM
 #83

Many bank fear Bitcoin. And there are more reason present behind this. People mainly use for secure money transaction. But Bitcoin provide better secure money transaction facility with more advantage then bank due to this many people using Bitcoin instead of bank. Bitcoin provide its user an uninterrupted money transaction facility which is untraceable too. While bank doesn't provide such facility to its user. And in order to use bitcoin transaction their is no need to give full information of sender and receiver. And bitcoin provide faster transfer facility with low transaction cost. These thing makes Bitcoin better than bank ;)q
for someone who wants undercover and confidential transactions. of course they will prefer bitcoin rather than bank. but I don't think most people care about freedom and undercover. they prefer convenience and the bank gives it? comfort and ease in transactions wherever and accepted anywhere? so I don't think banks need to worry about it
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May 07, 2018, 06:35:58 AM
 #84

Johannson probably implied in view of the fact that bitcoin would make a good competition to the banks and eventually win them. Only comparison bitcoin and banks with YouTube and television is not quite successful. But I agree with the author, bitcoin will push banks, at least they will make healthy competition.
First of all the context the op used about YouTube killing the use of Television is totally wrong🤔 you can’t tell me that YouTube has taken while there are millions of people making use of Television and every houses making it a priority. There are lots of people who also go to Cinemas too to watch movie. YouTube do have something to offer, but it’s not better than Television.

Coming to bank and Bitcoin, Bitcoin is like YouTube and is a good form of investment, but bank is like television and is a priority for every businessmen. Bank is here to stay forever and Bitcoin can’t beat it, cause it’s impossible. The only think Bitcoin can achieve is being the best investment asset.
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May 07, 2018, 06:55:15 AM
 #85

You can't compare BTC with youtube many have said it above.BTC and BanKs are distinctly different but BTC is superior to wide and worldwide publications,if BanK is favored only for the upper middle class I think.While BTC in the more favored for all circles with easy system doesvt must have documents to start a different investment with BanKs and I think BTC will be a winner when in a fight with the BanKs Wink.

 
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May 07, 2018, 02:48:42 PM
 #86

You can't compare BTC with youtube many have said it above.BTC and BanKs are distinctly different but BTC is superior to wide and worldwide publications,if BanK is favored only for the upper middle class I think.While BTC in the more favored for all circles with easy system doesvt must have documents to start a different investment with BanKs and I think BTC will be a winner when in a fight with the BanKs Wink.
He is just comparing the development part of Multimedia to the currency. Youtube and television is both multimedia while BTC and Banks are both belongs to currency section so it's​ comparable especially the progress. It is possible that someday. Banks will adapt the use of cryptocurrency since the bank digital currency is almost the same in crypto.

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May 07, 2018, 03:00:40 PM
 #87

As Bitcoin grows, the more fearful they are. As the number of investors pouring into the BTC will be larger, banks will give up, but the fact is that banks do not give us high profits, although they are safe. But people like to invest high profits.
How strange for me, then, that so far, some people still have confidence in banks! And banks can be bankrupt. The only difference is that banks will not pay such interest with investments like bitcoin!
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August 11, 2018, 02:28:16 PM
 #88

There is no other option, because life doesn't stand still, and changes are needed. Bitcoin and blockchain are pioneers of the new banking system.

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August 13, 2018, 02:32:48 PM
 #89

If central banks buy Bitcoin to hold it as a reserve, it would be a huge step forward. But even if that was the case, I think that only central banks of some developing countries would do it this year. I can't imagine that FED or ECB buying crypto right now. I mean, it's not impossible, but it will take a few more years until that happens.
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August 13, 2018, 02:58:32 PM
 #90

as far as I think investing in bitcoin and bank are equally good, but for me it's still nice to save money in bitcoin than we keep it in the bank, because the opinion of the dibank is very low compared to bitcoin.

Yeah I agree with you Its very profitable investing in bitcoin than banks cause banks could give you a bit of profit by saving money for their and they really gained much profit than you cause of your saving but if you invest it on bitcoin it will give you more profit on the future and  I guarantee that.
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August 13, 2018, 03:44:35 PM
 #91

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?



I don't think so mate. Banks have different visions of cryptocurrency. Money in a bank account accrues interest at a fixed rate, set by contract between the consumer and the bank. The currency itself can also change, typically through inflation which causes the value of each dollar in the account to erode. Although that erosion is tempered by the interest rate paid by your bank, it’s extremely rare for the bank to pay an interest rate that keeps up with actual inflation.while  bitcoin will change based primarily on market forces. With no regulating authority, and the supply of bitcoins in the marketplace fixed, the price of a single token is almost entirely dictated by supply and demand. This means that no government can erode a bitcoin’s value through inflationary policy, but it also means that the bitcoin is subject to far more severe swings in value.
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August 13, 2018, 03:47:36 PM
 #92

Already we are in the digital world,now a days opening account in the banks also comes at doorstep,we no need to visit any banks even once.But bitcoin is different from banking system which still needs the adoption to overcome the banking system,yes hopefully it may happen in the upcoming years.

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August 13, 2018, 03:49:16 PM
 #93

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?





Well mate, banks is very different from bitcoin. Banks have regulations while Bitcoin don't have it. Bank account involves merely the storage of your money. As a result, spending any of that money involves a third party transaction that fetches that cash from your institution. This could mean stopping by an ATM or using a debit card, both systems which then check your account and transfer spendable funds accordingly. On the other hand, bitcoin is far less fungible. It can only be spent with a merchant who wants a bitcoin and those are relatively few and far between (although markedly growing in number). On the other hand again, as an asset, a bitcoin involves only a single transfer. Instead of fetching spendable money from your bank account, you simply transfer your bitcoin to someone else. There are fewer steps because you are directly handing the merchant something he or she wants.
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August 13, 2018, 05:22:21 PM
 #94

I don't think the effect will be that great. Because after all bitcoin is also associated with conventional money. As long as the community still uses the conventional money, during that time the bank will remain and operate. Of course, Bitcoin is extraordinary, but there are certain sectors that cannot be touched by it, that's where the bank's role is needed.
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August 13, 2018, 06:37:14 PM
 #95

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?
Internet more and more affect our lives it is inevitably. And crypto currency is worth competitor to habitual gold.
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August 13, 2018, 08:27:11 PM
 #96

Banks are for fiat and not for bitcoin. Banks are regulated so that the value of money can be manipulated unlike bitcoin though it is limited but no one can manipulate it because almost everyone are stake holder. Banks percent interest per year is very short while it can be earn in bitcoin in just a day.

 
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August 14, 2018, 09:19:57 AM
 #97

Already we are in the digital world,now a days opening account in the banks also comes at doorstep,we no need to visit any banks even once.But bitcoin is different from banking system which still needs the adoption to overcome the banking system,yes hopefully it may happen in the upcoming years.
I also believe in the future all barriers need to be removed. To reduce the cumbersome and time consuming procedures. Limit documents of various types to save costs as well as complete work faster. Bitcoin will dominate the market again and there will be many positive directions in the future.

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September 12, 2018, 02:59:06 PM
 #98

As low as whatever you stand to earn by keeping your money with the bank is, bank is much safer than cryptocurrency because banking is regulated and everything is under control. There is so much scam in the cryptocurrency space and you can therefore lose much even when you stand to make more than bank.
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September 12, 2018, 03:03:36 PM
 #99

I guess, bitcoin will be doing the same  thing to banks as the internet did to television as well, so banks need to do some actions real quickly, or else they are gonna be swollowed whole by these all new era, if not, its gonna be a sure death for them.

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September 12, 2018, 03:24:09 PM
 #100

when there is a parable of a thing, it means everything will change in its time. like how youtube did to tv. I think bitcoin will beat banks someday, because as we know even investign money in both places are equally good, saving in bitcoin is easier and simple compared to bank, we know that there are many procedural things we have to do when we deal with bank, and I'm sure these things that will beat them later.
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September 12, 2018, 03:48:49 PM
 #101

I believe bankers and wall street are attempting to crash the prices of cryptocurrency so that people will become scared of using it because they will fear the loss of wealth.
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September 12, 2018, 05:37:13 PM
 #102

Well, I think investing in bitcoin is easier and simpler compare to bank, as we know we have to deal with many forms and procedures in banks, and that is the main poin that will make people leave them and stay with bitcoin.
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September 12, 2018, 06:08:15 PM
 #103

Well, I think investing in bitcoin is easier and simpler compare to bank, as we know we have to deal with many forms and procedures in banks, and that is the main poin that will make people leave them and stay with bitcoin.
Even if the banks reduce their procedures to a minimum, they will not become more attractive to me! In my country, I tend to trust Bitcoin!

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September 12, 2018, 06:18:39 PM
 #104

Well, I think investing in bitcoin is easier and simpler compare to bank, as we know we have to deal with many forms and procedures in banks, and that is the main poin that will make people leave them and stay with bitcoin.

Crypto currency was innovated to eradicate banking system. Though banking system is so convenient for fiats, crypto founder felt the need for easy transaction without third party. Hence Peer to Peer transaction was introduced and everything was possible to do from where you are with high security. Blockchain technology supports crypto currencies for every move. Blockchain can not be hacked.
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September 14, 2018, 11:13:52 AM
 #105

Banks have a problem with Bitcoin and other crypto currencies. They feel threatened. They should be afraid. Because finally we have a tool that gives us the opportunity to don't use banks and their services. We don't need them anymore. They have manipulated our lives until now, and it was enough.

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September 14, 2018, 11:40:46 AM
 #106

It is a fact that Youtube bit off Television. But the later still exists and still have high rates of viewers. Youtube is based on "Broadcast yourself", then it evolved and even Television programs can be aired on Youtube and rely on it. Concerning bitcoin and banks. I do not think they have the same case as Television and Youtube. They might share the fact that they pose a threat to each other, but in some countries, bitcoin is illegal.

 
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September 14, 2018, 06:45:07 PM
 #107

The best way is to invest in both of them, but so far now my priority is to have an investment in bitcoin, that is what I am focusing right now, as it is not profitable to invest in banks compare to bitcoin, since banks are just offering a limited interest rate for your investment.
While it is really profitable to earn in the crypto currency, however, it is absolutely necessary to keep a part of the profits in banks. The investment of its funds in the crypto currency has always been and will be quite risky. Therefore, a certain part of its funds should be kept in ordinary currency and use the services of banks in respect of depositary storage. So you can protect yourself from various unpleasant factors.

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September 14, 2018, 06:50:02 PM
 #108

I agree. More than bitcoin replacing fiat, I agree that there is a better chance for bitcoin and other altcoins to co-exist with fiat in the future. Besides, this will give people a choice as to what form of payment they would like to use, dont you think?
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September 14, 2018, 09:29:28 PM
 #109

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?






We are very far away from that happening, I see your point but I do not think it is going to happen because of the nature of bitcoin and other cryptocurrencies, people are not very good at keeping themselves safe and this includes their money, can you imagine the amount of money that is going to be lost to hackers? Banks are going to offer their services of storing cryptocurrencies for you and many people are going to accept that not knowing any better.



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September 14, 2018, 09:50:05 PM
 #110

I don't think bitcoin totally replace banks. Banks borrow money from someone and lend to someone. Besides the main profit comes from this process, banks guarantee that borrowers always take money back. I think an entity providing "money safety" will always be required.
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September 15, 2018, 07:27:21 AM
 #111

It is a fact that Youtube bit off Television. But the later still exists and still have high rates of viewers. Youtube is based on "Broadcast yourself", then it evolved and even Television programs can be aired on Youtube and rely on it. Concerning bitcoin and banks. I do not think they have the same case as Television and Youtube. They might share the fact that they pose a threat to each other, but in some countries, bitcoin is illegal.
You are right but the problem is these that people want to earn money with their savings and banks will never give you money for your accounts. If they give you the ratio is too low which doesn’t meet your needs. Now people think that it is better to invest in bitcoin especially those people who do not have time for their own business. Banks will have to start trade in bitcoin for their survival otherwise it will be the end.
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September 15, 2018, 07:53:09 AM
 #112

I like to invest more into bitcoin than investing at banks. I got all my money missing at one bank and this has really scared me when it comes to investing with banks. So lucky the amount wasn't all that huge.
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September 15, 2018, 09:02:16 AM
 #113

Banks have a problem with Bitcoin and other crypto currencies. They feel threatened. They should be afraid. Because finally we have a tool that gives us the opportunity to don't use banks and their services. We don't need them anymore. They have manipulated our lives until now, and it was enough.

in fact there is a good idea that banks can work with crypto currencies, so there might be convenience that will be accepted, but why is it difficult, many problems are not easy to decide because there may be many state policies that do not yet legalize crypto. but even so crypto has gone well.

a 
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September 16, 2018, 05:23:08 PM
 #114

Banks have a problem with Bitcoin and other crypto currencies. They feel threatened. They should be afraid. Because finally we have a tool that gives us the opportunity to don't use banks and their services. We don't need them anymore. They have manipulated our lives until now, and it was enough.

in fact there is a good idea that banks can work with crypto currencies, so there might be convenience that will be accepted, but why is it difficult, many problems are not easy to decide because there may be many state policies that do not yet legalize crypto. but even so crypto has gone well.
It seems some people think that banks are never going to accept cryptocurrencies, but you must remember banks only care about one thing and that is making money and if cryptocurrencies become so popular that they see an opportunity to make a lot of money they're going to take it, they're going to do the same that they do with your money they're going to gamble with it in the markets and get huge profits while you get nothing.



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September 16, 2018, 05:26:55 PM
 #115

and to realize that effect requires a lot of time because banker bankers around the world will not remain silent when the land he owns is damaged by a new system called cryptocurrency Undecided
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September 17, 2018, 09:15:36 AM
 #116

We are still far from it but I think banks really know that crytpo currency is a threat. I mean once one of the crytpo currencies in the marker become stable enough to be adopted then it will be a huge game changer. Everyone will be pulling out their fiat and converting it to crypto currency. Give it a few more years and we will see it happen.

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September 17, 2018, 09:18:33 AM
 #117

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?







A long time ago? In what era? That doesn't make sense. As for now, Bitcoin was already used globally as a means of payment to online transactions but I think it has never been in the same effect as banks.

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September 17, 2018, 09:21:32 AM
 #118

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?


That would be very far from happening. Youtube and television is entirely different story than what we are seeing in todays world. They are entertain industry and has got no restriction whatsoever. When it comes to the banking sector then it is all about the financial services and stuff which should be taken very seriously by both the entities. Its all about the money sector and when it comes to the money then things can be very much tighten one. Bitcoin is still struggling in its development phase and I believe that it wont make any difference until it become fail safe!
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September 18, 2018, 11:28:42 AM
 #119

Banks have a problem with Bitcoin and other crypto currencies. They feel threatened. They should be afraid. Because finally we have a tool that gives us the opportunity to don't use banks and their services. We don't need them anymore. They have manipulated our lives until now, and it was enough.
Deposits in banks have reduced due to investment in cryptocurrency. People withdraw their money from bank accounts and put in bitcoin and of course it is a big problem for banks because people’s money is the only source of banks income. When there is no money in banks they will not be able to make money. They fully understand this thing.
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September 18, 2018, 12:30:10 PM
 #120

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?







A long time ago? In what era? That doesn't make sense. As for now, Bitcoin was already used globally as a means of payment to online transactions but I think it has never been in the same effect as banks.
indeed BTC is a technological innovation in payment instruments. but on the other hand bank cannot be replaced, because under the supervision of government, of course government must look for answers to bitcoin policy later

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September 18, 2018, 12:58:57 PM
 #121

so far if you ask me ill choose investing in bitcoin rather than banks why? cause bitcoin for me is much safer and easy to use, can be accessed everywhere, transactions are safe and easy most importantly cost less, bitcoin is safe because of blockchain tecnology which helps allow digital information to be distributed but not copied.
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September 18, 2018, 01:13:49 PM
 #122

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?







maybe more precisely in my opinion is not crypto x bank but crypto x money because crypto is the latest breakthrough from tuakr exchange in cyberspace, not alt to store wealth or assets, even though it still takes quite a long time but at least what I see the development of crypto finally finished This is quite fast, although there are still some governments that have not been able to accept it or still apply certain rules to Crypto
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September 18, 2018, 11:21:38 PM
 #123

I think banks will adapt to the market. When the market uses crypto currency more than fiat, i think the banks will create their own coin and maybe their own virtual wallets. I don't think banks are dumb enough to be complacent when the crypto currency market booms in the economy. Lastly, banks are shrewed, they will do everything to slow us down.

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September 19, 2018, 01:58:50 AM
 #124

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?






Bitcoin makes investors and enthusiasts crazy and rather stay away from banks same as youtube to televison as all of those centralized things in there are scripted and controlled by oligarchs. But those things won't happen with Bitcoin as it is community based asset. Having possesion of 80% of Bitcoin funds with matching 20% of fiat funds will make sense nowadays to avoid financial crisis.
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September 19, 2018, 02:59:53 AM
 #125

 Smiley  Smiley Well, such things are harder to identify at a bank perhaps just bitcoin is quite different. It will be true for many years that banks are committed in terms of carrying and depositing their currencies while bitcoin differs greatly from all banks. This is different from all payment features and transfers of currencies.
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September 19, 2018, 03:14:01 AM
 #126

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?








yes in some ways, but banks and bitcoin will still co-exist as youtube and televisions today, bitcoin has so many potentials that offers to us in the future, the technology is a work in progress, until it is not limited to being online, do you know what youtube versus televsions and bitcoin and banks have in common? they are both separated by being online and using internet. but banks also uses internet therefore they will not be left behind in terms of technology, they will surely develop a contingency plan to level up with bitcoin. so therefore, banks and bitcoin will still co-exist even in the future.

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September 19, 2018, 08:47:26 AM
 #127

Maybe so, but what happened to youtube and television happened almost over night. With banks, i think we'll have to count decades for that to happen. First off, we need a stable Crypto currency. I really think ETHEREUM will be that coin since it has a lot of projects. But then again, we don't know the flow of the market.

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September 19, 2018, 01:34:59 PM
 #128

so far if you ask me ill choose investing in bitcoin rather than banks why? cause bitcoin for me is much safer and easy to use, can be accessed everywhere, transactions are safe and easy most importantly cost less, bitcoin is safe because of blockchain tecnology which helps allow digital information to be distributed but not copied.
Asides from bitcoin even being safer as long as you know how to handle your security issues, I will say the control it gives when it comes to spending, transactions and so many more is something banks has never been able to give.

Now, I can send money across the border without any stress and issues, compared to when the likes of Western Union, Moneygram and the likes will almost frustrate you and then you see some bullshit policies from the Central Bank or government affecting how one spends. The fact that there is an alternative, will sure make banks to want to start thinking of features they can bring to stay relevant.
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September 19, 2018, 08:37:37 PM
 #129

banks will not remain silent with the bitcoin campaign to date, because they live on customers' money deposited in the bank
they will continue to make statements that bitcoin is a fraud so that people do not believe in the system provided by bitcoin
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September 19, 2018, 09:41:16 PM
 #130

we are so close to experiencing this phenomenum completely, banks are less relevants these days and a day will surely come when banks will be completely obsolete, people are getting to that understanding now that it is wiser i put my money to work to yield more money through investment in crypto currencies than allow it depreciate in value in a savings account.
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September 19, 2018, 09:59:54 PM
 #131

I still consider banks as useful as crypto given that it is used to encash them as easy as possible. Banks are standing alongside with crypto and they work together as a team. I guess this is the situation in my country and differs from yours. So far, this tandem doesnt disappoint me and they work so good.

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September 19, 2018, 10:34:29 PM
 #132

We are still far from it but I think banks really know that crytpo currency is a threat. I mean once one of the crytpo currencies in the marker become stable enough to be adopted then it will be a huge game changer. Everyone will be pulling out their fiat and converting it to crypto currency. Give it a few more years and we will see it happen.
I think we're going to see a lot of people using bitcoin in the future but I do not know if the adoption is going to be so generalized, I say that because even if bitcoin is very easy to use from my perspective there are a lot of people that are not used to use technology and are probably going to find bitcoin to be very challenging especially when it comes to securing their coins.



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September 21, 2018, 08:18:46 AM
 #133

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?






Lol… This one is funny, please what exactly did YouTube do to Television? Cause even till today we all still watch television  and also rushing cinemas every time new movies are released just like the Avengers Infinity war that released not so long and other movies too.

I’m also sure that lots of people here still buy Blu-ray. Lol, back to the main point, Bitcoin can’t win bank, so quit all these games you’re playing and face the truth.
sublime5447
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September 21, 2018, 04:06:55 PM
 #134

Banks have a problem with Bitcoin and other crypto currencies. They feel threatened. They should be afraid. Because finally we have a tool that gives us the opportunity to don't use banks and their services. We don't need them anymore. They have manipulated our lives until now, and it was enough.

in fact there is a good idea that banks can work with crypto currencies, so there might be convenience that will be accepted, but why is it difficult, many problems are not easy to decide because there may be many state policies that do not yet legalize crypto. but even so crypto has gone well.
It seems some people think that banks are never going to accept cryptocurrencies, but you must remember banks only care about one thing and that is making money and if cryptocurrencies become so popular that they see an opportunity to make a lot of money they're going to take it, they're going to do the same that they do with your money they're going to gamble with it in the markets and get huge profits while you get nothing.
Yes the bank will do things for big profits without us knowing and I also agree that the bank only cares about those who give the bank's profits. But I think bank will having difficult to cooperate with Crypto because it’s still regulated by laws of the state government, while crypto is not bounded by any rules of the state government.
justspare
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September 23, 2018, 03:03:08 PM
 #135

indeed BTC is a technological innovation in payment instruments. but on the other hand bank cannot be replaced, because under the supervision of government, of course government must look for answers to bitcoin policy later
Government will never want to allow banks to become irrelevant and banks as well will not want to become irrelevant in the long run. As it is, there are a lot of things going on with the banking sector that shows they are trying to bring up a lot of distinctive attributes to make them be in par with the idea of using cryptocurrency and that is certainly what we need anyway. At least, the fact that it is becoming a competitive space for them makes it a whole lot enticing for all of us.

I think banks will adapt to the market. When the market uses crypto currency more than fiat, i think the banks will create their own coin and maybe their own virtual wallets. I don't think banks are dumb enough to be complacent when the crypto currency market booms in the economy. Lastly, banks are shrewed, they will do everything to slow us down.
At this moment, I am sure they are already trying to check out ways they can adapt to the market and see how they can keep being closely connected or appropriate to what is being done in the crypto space so as not to get left behind. I know bitcoin will definitely not eradicate the usage of banks, and they will still be functional, but now that they know they have a lot to do to keep the interest of the users at heart when it comes to using banks, makes it even more interesting.
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September 23, 2018, 03:26:08 PM
 #136

I really believe that Bitcoin will make the same effect to banks that youtube did to television ( at least).
This statement was made in a documentary from a long time ago that I watched.

So how far from that  you guys think we are now?






People nowadays knows bitcoin but always choose to invest in banks because they think its safe for their money. But think about it bitcoin is more secured and it can give us huge profit. It is also perfect for long term and short term investment.