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Author Topic: Can Bitcoin make Banks disappear?  (Read 426360 times)
BTCBinary
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January 12, 2016, 02:40:58 AM
 #1

It seems that experts say that Bitcoin 'Here to Stay,' But Banks Could Disappear.


"TheStreet: How do you think FinTech will impact the way banks operate?

Frank Schwab: Banks either react on, or they will disappear. Anyway, the consolidation of the banking industry accelerates as the behaviour of people changes. Some banks will benefit from [FinTech], some will be pushed to the back end, and some will disappear."
http://www.thestreet.com/story/13419089/1/bitcoin-here-to-stay-but-banks-could-disappear-says-fintech-expert.html

What's your read on that?

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January 12, 2016, 02:45:41 AM
 #2

It seems that experts say that Bitcoin 'Here to Stay,' But Banks Could Disappear.


"TheStreet: How do you think FinTech will impact the way banks operate?

Frank Schwab: Banks either react on, or they will disappear. Anyway, the consolidation of the banking industry accelerates as the behaviour of people changes. Some banks will benefit from [FinTech], some will be pushed to the back end, and some will disappear."
http://www.thestreet.com/story/13419089/1/bitcoin-here-to-stay-but-banks-could-disappear-says-fintech-expert.html

What's your read on that?



Banks as WE know it may disappear, but banks generally will not disappear.
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January 12, 2016, 02:48:18 AM
 #3

Banks will change or go under but they won't go away. They will always find some service to provide that someone else will want to buy.

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kevin go
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January 12, 2016, 02:48:55 AM
 #4

im sure it can...but it will take a long time to make bank dissapear...
but make sure that all people know what is btc...in my country just a less people know bitcoin...
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January 12, 2016, 03:09:46 AM
 #5

I think, banks will not be disappear. Instead, they'll start using bitcoins instead of fiat currency with some regulations like in fiat.
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January 12, 2016, 06:24:33 AM
 #6

That's exactly the end result and that's also why some bank owners fear this and have started studying how blockchain system works so they could integrate it to their existing banking systems since they see Bitcoin as their biggest rival that could make them disappear.
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January 12, 2016, 06:29:24 AM
 #7

Banks in would disappear in the way that they wouldn't function as they do now. But this is only the case if bitcoin becomes a widely accepted currency, and we see worldwide adoption. If a currency still keeps fiat as it's primary currency, then it would need banks. Simple as that.

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January 12, 2016, 06:52:29 AM
 #8

I think the bank actions in Cyprus show that a national bank for the people is needed. I believe that these will appear, and will support a more stable fiat currency. These banks could also supportcrypto-currencies as well as cash. Will the current banks survive? Not if the governments stop taking on their debts resulting from reckless lending.

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January 12, 2016, 06:54:59 AM
 #9

Bitcoin won't change the fact that people will be looking to take a loan for something like a house or a car.

As a service provider for loans they will stay, but as a safekeeper of your money, that will very likely change in the coming years.
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January 12, 2016, 06:58:44 AM
 #10

I think banks will not disappear.
They can change or can work with bitcoins.
but they will never disappear as fiat will never disappear too.
If fiat comes to the point that has no use already,
then thats the only time that banks can disappear.
But as i have said, its impossible.


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January 12, 2016, 06:59:43 AM
 #11

its impossible, because bitcoin cannot fully change money and as money will exist banks will exists too
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January 12, 2016, 07:06:45 AM
 #12

I don't think banks will dispear, by the fact that not every body who banks knows about bitcoins
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January 12, 2016, 08:05:51 AM
 #13

I don't think banks will ever go away or dissapear.
They can evolve and make it to where you don't need physical money
But it will still be the same, you will still need a bank account

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January 12, 2016, 08:13:55 AM
 #14

no, because there will always be those scared average joe, that will rely on the bank, no matter what new tech you have, you need plenty of new generation to remove those people

it's the same as right now there are still people that refuse to use credit card or new services...
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January 12, 2016, 08:26:26 AM
 #15

Certainly no. Because there is much more user that use Bank than the Bitcoin.
If everyone do not use the bank, then, yes, it is possible. Other than that, it is impossible to make the bank "vanished".
Unless, you are more powerful than the governments in every country.

Life sucks.
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January 12, 2016, 08:29:23 AM
 #16

Nah that is not true I think bitcoin will just be difficult to replace it to fiat money. If ever bitcoin will replace the fiat money I think the bank will go to the bitcoin world and I well bet that they will offer a lot of things. Like maybe more ATM for bitcoin or other stuff.


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January 12, 2016, 08:37:53 AM
 #17

Banks aren't going anywhere,  not anytime soon anyway.  Even in the unlikeliest event of Bitcoin becoming the world's international currency banks will still be there to provide loans and gain interest in btc.  I'd say fiat will be around well after Bitcoin is gone though.

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January 12, 2016, 09:30:39 AM
 #18

Banks will not dissappear. We will still need banks as not everyone will use Bitcoin. We are already seeing banks for Bitcoin. If anything banks as we know them may have to move with the times and start bitcoin accounts. At the end of the day banks make money of our money they will want to try making money from bitcoin too.

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January 12, 2016, 09:46:56 AM
 #19

I think there are two factors here. The banking/debt crisis, and the emergence of crypto-currencies. It won't be Bitcoin that will destroy the banks, it will be the politicians who are taking bribes to allow rubbish derivatives to be created, and then allowing bail-ins for the banks to cover their fraudulent lending, who will cause the demise and re-structuring of banking. Bitcoin will just be one of the emerging solutions/replacements.

Not sure what I'm talking about? Look at the recent permission to allow fracking in the UK, and the bail-in of Cyprus and the Greek banking theft to help DoucheBank.

The Jet Cash coffee lounge in the Ivory Tower has had some good relaxing chat recently, just what you would expect.
We need some girls to brighten the conversation though.
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January 12, 2016, 10:02:21 AM
 #20

well considering that our world is ruled right now by the bankers , let s hope it is not the bank who will make bitcoin disappear lol
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