Quote from: Johannson on April 19, 2018, 02:43:53 PM

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?

Well mate, banks is very different from bitcoin. Banks have regulations while Bitcoin don't have it. Bank account involves merely the storage of your money. As a result, spending any of that money involves a third party transaction that fetches that cash from your institution. This could mean stopping by an ATM or using a debit card, both systems which then check your account and transfer spendable funds accordingly. On the other hand, bitcoin is far less fungible. It can only be spent with a merchant who wants a bitcoin and those are relatively few and far between (although markedly growing in number). On the other hand again, as an asset, a bitcoin involves only a single transfer. Instead of fetching spendable money from your bank account, you simply transfer your bitcoin to someone else. There are fewer steps because you are directly handing the merchant something he or she wants.

Beabtc11

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