Bitcoin x banks

[Hellokitty09]

 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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[Jackblack90909]

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.

[Whosdaddy]

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.

[1Referee]

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.

[MintCondition]

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.

[by24]

Bitcoin will not replace the key roles of a bank, specially in stimulating the economy since you cannot create bitcoins out of thin air.

[tomasarun]

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

[Roboabhishek]

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.

[Vektrum]

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.

[Shenzou]

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.

[mickeybuddy27]

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.

[ucok_aball]

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

[AimHigh]

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.

[richardsNY]

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.

[Serco]

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

[fiulpro]

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.

[fiomcorka]

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.

[kidamazo]

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

[Epimetheus]

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

[YED]

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 ...