- Nov 22, 2019
- 6,960
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Are bitcoins a threat to banks and can make them disappear ?
Can bitcoins make bank disappear ?
- Thread starter onlinemarketer12
- Start date
- Jun 7, 2012
- 4,402
- 1,423
not possible with the current scenario. Its more of an alternative.
- Jul 23, 2014
- 1,626
- 936
Never. At least not in the near future (next 100yrs). Banks will not disappear.
monkey2000
BANNED
- Apr 10, 2020
- 141
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Private banks control the world, so things will go in direction where these banks allow to go.
With introduction to bitcoin futures they can do naked shorting and crash bitcoin price to any value they want.
Extra methods - lobby with governments to ban use or payments with bitcoin.
- close your bank account in case you use it to buy or receive bitcoin payments
- not allow companies to accept bitcoin payments,
- apply hefty tax on bitcoin transactions...
My point being - banks controling the world will decide where bitcoin price is allowed to go.
With introduction to bitcoin futures they can do naked shorting and crash bitcoin price to any value they want.
Extra methods - lobby with governments to ban use or payments with bitcoin.
- close your bank account in case you use it to buy or receive bitcoin payments
- not allow companies to accept bitcoin payments,
- apply hefty tax on bitcoin transactions...
My point being - banks controling the world will decide where bitcoin price is allowed to go.
- Nov 22, 2019
- 6,960
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What about user benefit ? If some platform benefits users in better way, won't they shift to that new platform.
TheVigilante
Banned - Multiple Rules Violations
- Aug 31, 2010
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win993
Regular Member
- Feb 24, 2007
- 217
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If that is indeed the case, then it will be "in addition to". It won't replace the banks.
If the banks see it coming, because it won't happen overnight, they will create barriers to it's use
to make it almost unworkable, or get it banned outright.
mqsss
Regular Member
- Feb 24, 2012
- 454
- 389
And you'll get the loan in....?
naniot
Regular Member
- Jul 5, 2014
- 250
- 103
If they cared about the common user, they wouldn't charge high fees for pretty much everything. And governments are not ready to let banks disappear, anyway. It's easier for them to track your activity and earnings than it would be if everybody used BTC. That way, they can make sure you don't earn money without giving them their cut.
HustleForLife
Regular Member
- May 11, 2020
- 209
- 112
You need brains to dabble with crypto, handling own security and wallet etc.. Something which 90% of the population don't. Banks will never disappear with idiots like them.
BrandingCat
Elite Member
- Jan 6, 2015
- 8,115
- 10,311
Banks will not allow it, until you let them control it.
It will take many years until it will become trusted as a normal currency,maybe when mileanians will be old.
It will take many years until it will become trusted as a normal currency,maybe when mileanians will be old.
tb303
Supreme Member
- Dec 18, 2011
- 1,238
- 909
D
Deleted member 1333509
Guest
The banking system will change dramatically over the near future (5-10 years). Pretty sure that how we see banks now will be obsolete soon, not just from crypto (or even mainly because of it) but even with the way that Revolut and Transferise etc are going, the banking sector is getting a serious shake up right now.
- Nov 22, 2019
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It is already visible, the shift is on automation.
Priince1337
Elite Member
- Aug 23, 2013
- 2,250
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Who will give you a loan?
yherrliche
Senior Member
- Oct 20, 2015
- 996
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Banking is not just about holding your money somewhere.