Can Bitcoin make Banks disappear?

[avw1982]

Yes the bitcoin can do this but it will take a lot of time without any doubts, the fact is that if the bitcoin has a good worth its gonna be easy.
It only needs to get a lot bigger these days!

Quiet more people are using bitcoin but I believe the majority of that people are not into banks at first. They are not using banks at all. If all people that using banks will transfer to bitcoin then your statement will fit but it's impossible. Banks will never dissapeared just bitcoin of bitcoin. Face the reality and don't just be blinded by other's unrealistic statement.

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[rektDude]

Yes the bitcoin can do this but it will take a lot of time without any doubts, the fact is that if the bitcoin has a good worth its gonna be easy.
It only needs to get a lot bigger these days!

Quiet more people are using bitcoin but I believe the majority of that people are not into banks at first. They are not using banks at all. If all people that using banks will transfer to bitcoin then your statement will fit but it's impossible. Banks will never dissapeared just bitcoin of bitcoin. Face the reality and don't just be blinded by other's unrealistic statement.

I also think that banks will never disappear its just not possible because a lot of things is depending on banks.
As a example the wall street is also based on these banks.. and a lot of people also.

[xIIImaL]

Yes the bitcoin can do this but it will take a lot of time without any doubts, the fact is that if the bitcoin has a good worth its gonna be easy.
It only needs to get a lot bigger these days!

Quiet more people are using bitcoin but I believe the majority of that people are not into banks at first. They are not using banks at all. If all people that using banks will transfer to bitcoin then your statement will fit but it's impossible. Banks will never dissapeared just bitcoin of bitcoin. Face the reality and don't just be blinded by other's unrealistic statement.

I also think that banks will never disappear its just not possible because a lot of things is depending on banks.
As a example the wall street is also based on these banks.. and a lot of people also.

Banks will always be on top and that would be the primary option of the people, many people will start using bitcoin, but as a secondary one, as banks are also important for business transactions.

[jossiel]

Yes the bitcoin can do this but it will take a lot of time without any doubts, the fact is that if the bitcoin has a good worth its gonna be easy.
It only needs to get a lot bigger these days!

For me, I don't think bitcoin can do that as banks are very important in an economy of a country. And we all know that bitcoins are uncontrollable.
Government will tend to use banks rather than the use of bitcoin, since value of bitcoin is unstable.
And in every aspect, banks are important even though they are just getting money from it's client legally.

[pandalion98]

Yes the bitcoin can do this but it will take a lot of time without any doubts, the fact is that if the bitcoin has a good worth its gonna be easy.
It only needs to get a lot bigger these days!

For me, I don't think bitcoin can do that as banks are very important in an economy of a country. And we all know that bitcoins are uncontrollable.
Government will tend to use banks rather than the use of bitcoin, since value of bitcoin is unstable.
And in every aspect, banks are important even though they are just getting money from it's client legally.

Same here, but my idea is a bit different.

For me, I think Bitcoin will enhance banking overall. They can use the blockchain tech to enhance their transactions. Think of international transfers. It would now take minutes instead of days. Lower fees. Western Union and the like would be rendered obsolete since bank transfers are easier and faster than ever.

[chineseprancing]

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?

Nope banks wouldnt disappear. Banks will make away to throw bitcoin industries if bitcoin be famous and can reach banks earnings

[jossiel]

Yes the bitcoin can do this but it will take a lot of time without any doubts, the fact is that if the bitcoin has a good worth its gonna be easy.
It only needs to get a lot bigger these days!

For me, I don't think bitcoin can do that as banks are very important in an economy of a country. And we all know that bitcoins are uncontrollable.
Government will tend to use banks rather than the use of bitcoin, since value of bitcoin is unstable.
And in every aspect, banks are important even though they are just getting money from it's client legally.

Same here, but my idea is a bit different.

For me, I think Bitcoin will enhance banking overall. They can use the blockchain tech to enhance their transactions. Think of international transfers. It would now take minutes instead of days. Lower fees. Western Union and the like would be rendered obsolete since bank transfers are easier and faster than ever.

Well that's possible and if banks can also be partners with blockchain well that's a good tag team. And they are going to have international organization for monetary funds for bitcoin users. I guess bank will going to be strong by that time. Bitcoin can make the fiat disappear.
But with bank, it's really impossible.

[dste123]

Yes the bitcoin can do this but it will take a lot of time without any doubts, the fact is that if the bitcoin has a good worth its gonna be easy.
It only needs to get a lot bigger these days!

For me, I don't think bitcoin can do that as banks are very important in an economy of a country. And we all know that bitcoins are uncontrollable.
Government will tend to use banks rather than the use of bitcoin, since value of bitcoin is unstable.
And in every aspect, banks are important even though they are just getting money from it's client legally.

Agreed - banks play too big a role for bitcoin to replace and BTC has issues that prevent it from being more widespread (large fluctuations in price, susceptibility to hacks, etc.)...but i think bitcoin will supplement the role of banks.

[jossiel]

Yes the bitcoin can do this but it will take a lot of time without any doubts, the fact is that if the bitcoin has a good worth its gonna be easy.
It only needs to get a lot bigger these days!

For me, I don't think bitcoin can do that as banks are very important in an economy of a country. And we all know that bitcoins are uncontrollable.
Government will tend to use banks rather than the use of bitcoin, since value of bitcoin is unstable.
And in every aspect, banks are important even though they are just getting money from it's client legally.

Agreed - banks play too big a role for bitcoin to replace and BTC has issues that prevent it from being more widespread (large fluctuations in price, susceptibility to hacks, etc.)...but i think bitcoin will supplement the role of banks.

Yes that's true,  bitcoins can't make banks to disappear instead of making it disappear. It can just be adopted by the bank and use it also for their
banking services. But let's reverse the situation, banks can make the bitcoins disappear in the country with the help of the government.

[Schuyler]

I don't think bitcoin is capable of making banks disappear. These financial institutions have been around for so long that they can adjust to whatever is going around in the world of finance. Another thought is bitcoins can somehow be made to work with banks if the governments would allow it. Somehow, there could be a way to make things work mutually.

[abugseuf]

not possible in present time may be in future. the future will decide that what will happen. i think banks will not disappear they will only start accepting bitcoin.

[goinmerry]

Yes the bitcoin can do this but it will take a lot of time without any doubts, the fact is that if the bitcoin has a good worth its gonna be easy.
It only needs to get a lot bigger these days!

For me, I don't think bitcoin can do that as banks are very important in an economy of a country. And we all know that bitcoins are uncontrollable.
Government will tend to use banks rather than the use of bitcoin, since value of bitcoin is unstable.
And in every aspect, banks are important even though they are just getting money from it's client legally.

Same here, but my idea is a bit different.

For me, I think Bitcoin will enhance banking overall. They can use the blockchain tech to enhance their transactions. Think of international transfers. It would now take minutes instead of days. Lower fees. Western Union and the like would be rendered obsolete since bank transfers are easier and faster than ever.

Western Union will have the problem when this BTC will also be used by common people and banks will be the one gaining profit here even for a little transaction fee. Small will be big when bulk users do it everyday.

[pandalion98]

Yes the bitcoin can do this but it will take a lot of time without any doubts, the fact is that if the bitcoin has a good worth its gonna be easy.
It only needs to get a lot bigger these days!

For me, I don't think bitcoin can do that as banks are very important in an economy of a country. And we all know that bitcoins are uncontrollable.
Government will tend to use banks rather than the use of bitcoin, since value of bitcoin is unstable.
And in every aspect, banks are important even though they are just getting money from it's client legally.

Same here, but my idea is a bit different.

For me, I think Bitcoin will enhance banking overall. They can use the blockchain tech to enhance their transactions. Think of international transfers. It would now take minutes instead of days. Lower fees. Western Union and the like would be rendered obsolete since bank transfers are easier and faster than ever.

Western Union will have the problem when this BTC will also be used by common people and banks will be the one gaining profit here even for a little transaction fee. Small will be big when bulk users do it everyday.

Oh yeah, I haven't considered that.

What I should have said is that regular people would use banks because they're used to it, but the more adventurous bunch would use BTC directly.

Therefore, Bitcoin does have the potential to make banks disappear provided that people start using them directly instead of using banks to do the transaction for them at that time period.

[saiha]

not possible in present time may be in future. the future will decide that what will happen. i think banks will not disappear they will only start accepting bitcoin.

Well we will see in the future and if the government will allow it to happen, blockchain needs to have office for each country.
Because blockchain is going to be the bank for bitcoins. So that there's a transparency for the users if banks will going to disappear.

[X-ray]

Yes the bitcoin can do this but it will take a lot of time without any doubts, the fact is that if the bitcoin has a good worth its gonna be easy.
It only needs to get a lot bigger these days!

For me, I don't think bitcoin can do that as banks are very important in an economy of a country. And we all know that bitcoins are uncontrollable.
Government will tend to use banks rather than the use of bitcoin, since value of bitcoin is unstable.
And in every aspect, banks are important even though they are just getting money from it's client legally.

Same here, but my idea is a bit different.

For me, I think Bitcoin will enhance banking overall. They can use the blockchain tech to enhance their transactions. Think of international transfers. It would now take minutes instead of days. Lower fees. Western Union and the like would be rendered obsolete since bank transfers are easier and faster than ever.

Western Union will have the problem when this BTC will also be used by common people and banks will be the one gaining profit here even for a little transaction fee. Small will be big when bulk users do it everyday.

We know if common people want to use BTC, Western Union will bankrupt because all of the users in WU will be interested to move on in BTC. And the bank will lose many transaction tax fee.

[stadus]

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?

Nope banks wouldnt disappear. Banks will make away to throw bitcoin industries if bitcoin be famous and can reach banks earnings

They will not throw bitcoin. They will adopt it and make more money and they are more trustable than the bitcoin exchanges.

[Enotche]

"In the next 10 years, the banking system will cease to exist. The structure will replace blokcheyn technology.
Today, more than demand lending platform reer-to-peer, payments based blokchain. And these trends will lead to the fact that working in a bank is no more." A similar statement was made by the Vice-President of Sberbank of Russia A. Sharov.

The banking system and the banks themselves are so uncomfortable that people would gladly have abandoned them, so how is it that their own money people have to stand in line to get the service. Banks will disappear, and that's fine. And maybe it will provide any other services.

[shinratensei_]

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?

Nope banks wouldnt disappear. Banks will make away to throw bitcoin industries if bitcoin be famous and can reach banks earnings

They will not throw bitcoin. They will adopt it and make more money and they are more trustable than the bitcoin exchanges.

Some money institution or we called bank is starting to adopt blockchain system because this is a big profit for the bank to upgrade their service for common people. the bank won't disappear.

[Ryananda]

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?

Nope banks wouldnt disappear. Banks will make away to throw bitcoin industries if bitcoin be famous and can reach banks earnings

They will not throw bitcoin. They will adopt it and make more money and they are more trustable than the bitcoin exchanges.

Some money institution or we called bank is starting to adopt blockchain system because this is a big profit for the bank to upgrade their service for common people. the bank won't disappear.

Absolutely banks will not be lost because the banks will always be updated quickly. Banks have a way to survive and remain there. Banks are also legal and get support from the government and the state. So bitcoin will not be able to make banks disappear.

[oblivi]

Bitcoin is not a direct enemy for banks, its only indirect. People will still want other people to hold their finances for them.