Bitcoin the HERO we never knew we needed

[Belarge]

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

We always ready our mind to face the possible outcome of exploring the space, it must have been a while we take a upturn to see how far Bitcoin have travel and the accomplishments behind the huge pumps. Bitcoin will always remain top when it comes to cryptocurrency but in the real world where these government handle their economy, they tend to face commercial banks and we know exactly what it portrays. Bitcoin have been in here for decades but still doesn't match the odds of erasing commercial banking sector that have been in existence with man.

[Alone055]

Since the inception of digital currency’s starting with the creation of Bitcoin by Sensei Satochi in January 2009,

"Satoshi Nakamoto"

Prior to this breakthrough we have all been under the control of various central banks owned and controlled by certain groups of people and companies

We still are, can you use Bitcoin for daily transactions? No, you can't. So technically, we are still not completely out of that era.

Many 2nd and 3rd world countries are subjected to the whims of these central banks because the control the finances of the nation they make ridiculous decisions and force you to go along with them if you choose not to you’ll have to find any means of lending money at probably higher rates from other companies or countries

We can't do anything no matter what they do, they are the ones in power and they are the ones who make the rules that we are bound to follow as long as we are using their services.

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

I don't think so, because those in power wouldn't let that happen. Even if Bitcoin becomes widely accepted though regulated, the authorities will never let Bitcoin replace the traditional financial systems because that would make them lose a lot of power.

[Maus0728]

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

I'm no financial expert by all means but if you think about this in a logical way, I don't think never in a million years that banking sector will ever go away, you got to understand that banking industry got a lot of powerful people on it's side and the money that's generated because of their support is so astounding and astronomical for any of us to even fathom that a threat to that industry is definitely not something that those who'd support it would let slide, why would Jamie Dimon and other banking executives that have a lot of money from the banking sector continues to berate bitcoin as a scam or something that's not worthy of their time and money? Because they see bitcoin as a threat to their jobs and with all the money and power that they've got, you're definitely going to try and do everything at your disposal to attack bitcoin and defend the survival of your obsolete and old industry that only benefits you.

[Darker45]

No, Bitcoin won't erase the commercial banking sector. No, Bitcoin won't erase the centralization in money, banking, and finance. To be fair, a certain degree of centralization in these sectors are necessary.

Bitcoin will stay as an alternative. Although Bitcoin has indeed posed a challenge to the current system, I think it won't eradicate it, at least not within the foreseen future. As an alternative, it has grown from a little-known technology to some kind of a mainstream option, but it remains to be a relatively small player overall.

[avp2306]

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

I'm no financial expert by all means but if you think about this in a logical way, I don't think never in a million years that banking sector will ever go away, you got to understand that banking industry got a lot of powerful people on it's side and the money that's generated because of their support is so astounding and astronomical for any of us to even fathom that a threat to that industry is definitely not something that those who'd support it would let slide, why would Jamie Dimon and other banking executives that have a lot of money from the banking sector continues to berate bitcoin as a scam or something that's not worthy of their time and money? Because they see bitcoin as a threat to their jobs and with all the money and power that they've got, you're definitely going to try and do everything at your disposal to attack bitcoin and defend the survival of your obsolete and old industry that only benefits you.

He's so over exaggerated on his beliefs and maybe he fantasized unrealistic matter on bitcoin that's why he expect a lot more about it. But if he could just think about in natural way he would provable realize that its hard to erase the commercial sector since they are very well protected by the law. Also this institution cannot be eliminated easy but rather bitcoin can be eliminated by them since if these financial institutions will spread some black propaganda against bitcoin then for sure we might see bitcoin to be ban on our country. That's why I like bitcoin and fiat will co-exist together like each people working on both currencies will cooperate together since we can smoothly use bitcoin and can cash out immediately without getting any problem.

[gunhell16]

Right now, what I really know is that Bitcoin was created to be one of the solutions to the financial problem. Satoshi Nakamoto did not invent him to bring down banks or any business form,
not like that. Instead, it is up to people or companies whether they will adopt it or not.

So that means the choice is still in our hands; it can be used for good and bad purposes by the people who will try to buy it or use it; it's that simple.

[BALIK]

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

I'm no financial expert by all means but if you think about this in a logical way, I don't think never in a million years that banking sector will ever go away, you got to understand that banking industry got a lot of powerful people on it's side and the money that's generated because of their support is so astounding and astronomical for any of us to even fathom that a threat to that industry is definitely not something that those who'd support it would let slide, why would Jamie Dimon and other banking executives that have a lot of money from the banking sector continues to berate bitcoin as a scam or something that's not worthy of their time and money? Because they see bitcoin as a threat to their jobs and with all the money and power that they've got, you're definitely going to try and do everything at your disposal to attack bitcoin and defend the survival of your obsolete and old industry that only benefits you.

He's so over exaggerated on his beliefs and maybe he fantasized unrealistic matter on bitcoin that's why he expect a lot more about it. But if he could just think about in natural way he would provable realize that its hard to erase the commercial sector since they are very well protected by the law. Also this institution cannot be eliminated easy but rather bitcoin can be eliminated by them since if these financial institutions will spread some black propaganda against bitcoin then for sure we might see bitcoin to be ban on our country. That's why I like bitcoin and fiat will co-exist together like each people working on both currencies will cooperate together since we can smoothly use bitcoin and can cash out immediately without getting any problem.

We often confidently declare that no one or any force can eliminate or wipe out bitcoin, but if we evaluate realistically, it can happen. If bitcoin can truly threaten and potentially wipe out the current banking system, I believe that governments will join hands to eliminate bitcoin. But bitcoin wasn't created for that purpose and it doesn't have the ability to do that, so it's not yet time for governments to join forces to destroy it.

Personally, I would also love to live in a world where bitcoin and fiat currencies coexist. After all, they both have their own tasks and use cases, there's no reason for them to oppose each other.

[Silberman]

...

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

Not possible, as great as an invention bitcoin was, banks are not going to let their business to be completely destroyed by bitcoin, and instead what we are seeing is a slow integration between bitcoin and the fiat markets, after all for the disappearance of banks to happen you will need for the will of the people and the politicians at the top, and neither of those two groups want that outcome, so content yourself with bitcoin being a way to protect yourself from inflation and a great way to make money passively as a long term holder.

[Strongkored]

Bitcoin the hero we never knew we needed

What kind of hero do you mean? Is it because the price is high? but only people who have money and buy Bitcoin can get the benefits so not everyone, so only the rich can own a lot of Bitcoin and get big profits when the price rises.

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

Not now, in fact I think not forever because there are traditional things that can be lost but there are also things that will last forever, and also because commercial banking or conventional banking is a system developed by the state so forever countries will maintain this because they can find out how much money its citizens have because that data can be obtained by the state without any problems.

[kro55]

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

Not now, in fact I think not forever because there are traditional things that can be lost but there are also things that will last forever, and also because commercial banking or conventional banking is a system developed by the state so forever countries will maintain this because they can find out how much money its citizens have because that data can be obtained by the state without any problems.

That's right, nothing lasts forever, there will come a time when old things will be replaced by newer technology. But talking about bitcoin replacing the current banking system is a bit of an exaggeration. Our world has changed a lot over the centuries, but one thing has never changed: collective interests, greed and the desire for power. And unfortunately, banks are the tools that governments use to manipulate and control us. So in the future maybe traditional banking will be replaced but I'm sure it will be another system created by the government and not a currency not created and controlled by them like bitcoin. Therefore, expecting bitcoin to replace banks is something that can only happen in dreams and will never come true.

[kryptqnick]

I agree with op's general vibe. Bitcoin offered an alternative to traditional fiat and banking system, an alternative that gives a lot of freedom to users and works really well without any authorities and any monetary policies.
I'm truly happy that Bitcoin exists and that we can choose to use it when we want to do it. However, the banking system is just too big, and it also got very easy-to-use and generally convenient. What's more, if you don't use it, you face a lot of inconvenience. So while Bitcoin is a great thing, I don't think it will actually replace the traditional system. At least, not any time soon.

[LesterD]

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

That's possible. But the thing is, for that to become possible it will take a lot of time, not a decade but more realistic if we say it will need a half-century for it to happen. We are in the digital era, and a lot of people will always try to pursue the advancement of technology to reach a higher height.

[martinex]

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

Not a write-off but BTC will always be their main competitor. Indirectly, the bank always tries to keep its customers on track, not move to other investment options. But, changes in behavior will certainly always exist, especially with the opportunities that are present now in the era of digitalization like today.

Well, for those who already know and know the great potential of BTC little by little the transition will occur where now we still see in traditional financial institutions a lot of costs incurred by customers, a small example I said if we lose the wallet at any time in which many securities following there is a bank ATM card then report to the bank to be blocked temporarily and after being found we report back will always be additional fees present following after Card blocking is re-enabled. troublesome of course.

[Briankimp1]

Bitcoin the hero we never knew we needed

What kind of hero do you mean? Is it because the price is high? but only people who have money and buy Bitcoin can get the benefits so not everyone, so only the rich can own a lot of Bitcoin and get big profits when the price rises.

Remember it was less than a dollar in 2009 so don’t speak as if it was always made for the rich, everyone was given a chance and if you did at that early stage you wouldn’t sound this way.

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

Not now, in fact I think not forever because there are traditional things that can be lost but there are also things that will last forever, and also because commercial banking or conventional banking is a system developed by the state so forever countries will maintain this because they can find out how much money its citizens have because that data can be obtained by the state without any problems.

Nothing lasts forever including the Banking institution, It didn’t start the way it currently is right now everything goes through a process, Fast forward many years from today with several improvements and advancements in technology do you think Bitcoin won’t evolve and grow.

I can clearly imagine in the near future due to global adoption of Bitcoin, banks begin buying over majority crypto currency’s so as to gain control of them with the help of governments to control our finances though I believe this will be impossible or rather harder to achieve.

P.s I call him Sensei Satoshi cause I see him as a Teacher.....

[Princess Leah]

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

That is clearly impossible . We must know that Satoshi not Satochi created bitcoin is not to make this a competition and to replace the existing banking scheme because after all this is only used as a legal payment option which is already clear that it is not to replace but to complement because if at the beginning bitcoin was used as a tool to replace the current banking system then bitcoin would have been banned from the start because it would be considered as an attempt to overthrow what the government currently has so that bitcoin could not replace it at any time because its original purpose was not as a substitute but as a complement .

Yes Bitcoin wasn't created as a competition or a medium to eradicate the existing banking scheme but to serve as a decentralised alternative for easier transactions and mode of payment and we all know that Satoshi's aim is gradually becoming a reality but then I believe if become generally adopted there's a tendency that it could be serve the purpose of being used as a general currency in the future though the possibility is not very high.

 But then the only obstacles against that is the government, the government needs a monetary system they could influence and since they can't influence Bitcoin it would be quit difficult for Bitcoin to erase the commercial banking system, except the government have no option but to accept it like El Salvador has done.

[Smack That Ace]

Bitcoin the hero we never knew we needed

What kind of hero do you mean? Is it because the price is high? but only people who have money and buy Bitcoin can get the benefits so not everyone, so only the rich can own a lot of Bitcoin and get big profits when the price rises.

Remember it was less than a dollar in 2009 so don’t speak as if it was always made for the rich, everyone was given a chance and if you did at that early stage you wouldn’t sound this way.

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

Not now, in fact I think not forever because there are traditional things that can be lost but there are also things that will last forever, and also because commercial banking or conventional banking is a system developed by the state so forever countries will maintain this because they can find out how much money its citizens have because that data can be obtained by the state without any problems.

Nothing lasts forever including the Banking institution, It didn’t start the way it currently is right now everything goes through a process, Fast forward many years from today with several improvements and advancements in technology do you think Bitcoin won’t evolve and grow.

I can clearly imagine in the near future due to global adoption of Bitcoin, banks begin buying over majority crypto currency’s so as to gain control of them with the help of governments to control our finances though I believe this will be impossible or rather harder to achieve.

P.s I call him Sensei Satoshi cause I see him as a Teacher.....

Just because you imagine it doesn't mean it will turn out the way you want. Our world is a centralized world, so decentralized things like bitcoin will only exist and be used within a certain scope, governments will never let them spread and affect their power. Or there is another scenario where bitcoin will replace the banking system if they find a way to control bitcoin then you will have a chance to see your dream come true. And if bitcoin becomes centralized and controlled by the government, will you still want it?

[kotajikikox]

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

this has been answered so many times before and you can just dig this forum about the answers from those years, why need erasing when they can work together? let bitcoin be just an Eye opener to the banking owners and to the world that they cannot abuse their position in giving service to the people.

[CageMabok]

My question to us right now do you think Bitcoin will eventually erase the commercial banking sector???

this has been answered so many times before and you can just dig this forum about the answers from those years, why need erasing when they can work together? let bitcoin be just an Eye opener to the banking owners and to the world that they cannot abuse their position in giving service to the people.

I also think that why should it be removed if it can work together, but on the other hand it also raises the question of whether commercial banks can really work together with Bitcoin. Because considering that banks always rely more on fiat than Bitcoin, this will probably give everyone a broader understanding that Bitcoin can be the best option for everyone who usually likes to save fiat, they can immediately choose Bitcoin as their best long-term savings. And this will certainly affect the bank because everyone no longer keeps money in the bank for long periods.

[Nrcewker]

Bitcoins cannot erase the commercial banking system. This is because now a days people treat Bitcoins as completely a digital asset. Hence they are just holding it. If Bitcoins are used like currency, then it had chances to completely remove the banking system. Nevertheless how bitcoins are, people are really liking it. Initially the proposed work of Bitcoins were different, but now Bitcoins have become a precious digital asset only.

[Kelward]

Bitcoins cannot erase the commercial banking system. This is because now a days people treat Bitcoins as completely a digital asset. Hence they are just holding it. If Bitcoins are used like currency, then it had chances to completely remove the banking system. Nevertheless how bitcoins are, people are really liking it. Initially the proposed work of Bitcoins were different, but now Bitcoins have become a precious digital asset only.

I believe that Bitcoin was created basically for decentralized p2p transactions, where it'll be independent of any centralized systems, like the central banks, more of an alternative to fiat, rather than eradicating fiat currencies. I agree that nowadays people are majorly using Bitcoin for investment and trading purposes rather than using it to make payments for their transactions, therefore with these developments, Bitcoin can not eradicate traditional fiat currencies, but it'll keep on being a store of value to it's investors.