Quote from: Osarman on November 27, 2016, 10:47:50 PM

Quote from: Skarner21 on November 27, 2016, 09:12:33 PM

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Quote from: avikz on November 27, 2016, 11:02:41 AM

My answer is no. Bitcoin can be a revolutionary electronic currency but it doesn't have the power to replace the traditional banking system. The reason is simple, bank is a government backed system. Also the Fiat currency is backed by government.

On the other hand bitcoin is backed by people's trust and it doesn't have any Central agency to support so the blockchain system can make an attractive investment route, but replacing banking system is never going to be happen.

I disagree with you. I believe that Bitcoin can easily replace banks in the future. Look at the world right now. We are in the middle of the World fourth technology revolution and the internet steadily replace physical services. And soon, Bitcoin will be a part of this world

I strongly disagree with you on this. Bank is not a currency that compete against Bitcoin, Bank is a financial institution, and this institution is clever enough to even make bitcoin popularity in their favor. And take note, bank operation is not limited to fiat money alone. Bitcoin may disappear but this kind of institution might be modified but will never disappear.

Yeah banks will be stay but bitcoin it can be gone and we cannot use bitcoin in offline mode unlike banks that we can use them online and offline.
Also banks is control by government so it is impossible that banks will disappear.
Bitcoin there is still no assurance that bitcoin will stay long in the future..

i think we can be use bitcoin as fiat in the near future because bitcoin is going more successful currency and bitcoin more move up to improve his facility and then i hope we can be use bitcoin in offline or online mode in the future.

Online it's best but for offline transaction you mean you will have your own paper money from bitcoin. It's not possible until bitcoin will be regulated. We cannot compete with paper money still as the level of awareness of the people regarding bitcoin is not that big.

Imagine what percentage we are holding now.