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September 26, 2018, 03:59:50 PM
 #141

Everyone understands that the blockchain is an innovative technology of the distributed registry, but here's how to implement it, that's the main task. It's like everyone understands that electric cars are the future, but petrol and diesel engines are still used. On the way of acceptance and recognition of crypto-currencies are the  financial institutions and the government, who are afraid of losing control over finances.

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September 26, 2018, 04:12:23 PM
 #142

We can't realy deny that people still prefer to stored their money or fiat currency in the bank because of security and assurance. But on the other hand, if we talk about investment, people who are engage in crypto world prefer to use bitcoin for their investment because we all know that bitcoin could give you huge amount of profit in just a short time.
First and foremost, this is a very new space and the possibilities of still trying to minimize risks rather than going all in is still there even though you want to believe in the long term potential of the market. This is one thing that would still keep helping to make fiat relevant and then banks to still be in action, asides from the fact that not everyone anyway will end up being a part of the space due to some limitations or the other.

For those who believe in the future of savings and spending with freedom, they will always choose bitcoin anytime any day and it will even get better when we start seeing real life usage. I guess the main issue here is just enlightenment as people need to understand how things should naturally be, but you cannot simply force everyone and we all know knowledge is profitable.

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September 26, 2018, 04:27:10 PM
 #143

The biggest breakthrough of Bitcoin is the ability of a person to send something of value to others with the ease of an anonymous transaction. It runs the global economy on a Blockchain network.

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September 26, 2018, 04:39:36 PM
 #144

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?

Not anytime soon, even for 5-10 years imho. Central banks control monetary policies and controlling the nation's entire money supply, which mean the bank will stay around for decades or centuries as long as the country has an official currency. On the other hand, bitcoin is a decentralized monetary system, but it can work perfectly fine as a medium of exchange just like fiat currency. Probably banks will become obsolete if a country no longer has an official currency, in Zimbabwe and Venezuela where inflation goes crazy and their currencies worth almost nothing, banks still exist though.

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September 26, 2018, 04:46:50 PM
 #145

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?

Crypto is like a "a state within a state", a "shadow government" supported by technical geeks and greedy financial dealers.
Despite the fact that crypto has become more popular over the past several months, it still has no visible impact in the fates of most people.
There is no significant effect of bitcoin on banks so far, as most of them do not deal with cryptocurrencies at all.

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September 26, 2018, 07:10:25 PM
 #146

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 your point of view is right. Bitcoin is like the opponent of bank. Many Place bitcoin is ban because of bank. Bitcoin is affect bank profits and because of this many national bank suffer from loss and force their government to ban bitcoin in their country. Bank mainly use for money transaction purposes. So Bitcoin is also use for money transaction purposes and bitcoin provide better transaction facility then that of bank. Bitcoin transactions fee are also low then that of bank and bitcoin money transaction processing time is also speed and safe then that of bank. And bitcoin also help in international transfer with less trouble. So these thing of bitcoin attract more people to use bitcoin instead of bank.

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September 26, 2018, 09:11:35 PM
 #147

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?






like oil and water
these two systems will never be able to merge because they have their own systems
and the world community is deceived by the system provided by the bank
and we are trying to make them aware
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September 26, 2018, 10:02:42 PM
 #148

Banks will still be there as it is a mean of money transfer, storage and is backed by a state. With Bitcoin, a person's identity is not tied to its wallet which would be likely impossible to track person assets for money laundering cases. Both have their own system and way to function which fulfill a user needs. Don't consider BTC as an alternative to fiat consider it as an asset only which can be sold for fiat.
Banks are responsible for users money in case hacks happen, the bank will reimburse to the user but in case of BTC a user is responsible for it, in case a person misplaces his/her wallet file or private key he himself will be responsible.

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November 10, 2018, 03:09:01 AM
 #149

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
No need to think about banks or bitcoin because both of them have their respective roles, where banks only receive savings and transactions that have been legalized by state rules and all transactions via bank requires a clear identity so the transactions can be done. It’s true that transactions via bitcoin can be done confidentially and anonymously without identity but still banks and crypto will be useful to us all.

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November 10, 2018, 03:23:38 AM
 #150

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 the banks will soon pay attention to the blockchain technology and they will cooperate with the potential altcoins like EOS or CS. We can not know where we are and this cooperation is only possible when governments around the world recognize Bitcoin and other altcoins as legitimate.

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November 10, 2018, 03:31:09 AM
 #151

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 the banks will soon pay attention to the blockchain technology and they will cooperate with the potential altcoins like EOS or CS. We can not know where we are and this cooperation is only possible when governments around the world recognize Bitcoin and other altcoins as legitimate.
this is now happening, and banks have started using blockchain. we know that bitcoin does not need a bank, so this is a threat to the bank. hence role of government is very important to regulate all through its policies

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November 13, 2018, 02:06:31 AM
 #152

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?




It seems to me that, Banks are start to research and looking for the benefits of crypto or bitcoin to their business. Banks has running for a long time for sure they are not afraid if many people saying that cryptocurrency or blockchain will replace banks. However, if we are collaborating with banks we have a chance to svoid banning of some countries.

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