Can Bitcoin make Banks disappear?

[kryptqnick]

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?

I would say btc can't make banks dissappear, because there will always be those who don't trust this crypto stuff and need some nice guarantees they think they get in banks

[1714881075]

1714881075

[1714881075]

1714881075

[zodin]

I don't think so. Banks are the foundation of money in general.
Soon enough, banks may actually use bitcoin as one of the main currencies.

That is possible that banks will start adopting bitcoin, but there is no chance that bitcoin can replace banks as the size of banking system is too huge, comparatively bitcoin is still too small.

Yep. The bitcoin market cap is just too small to even challenge all banks.
There are already banks in London that are thinking of adopting bitcoins. Just look it up in your search engines and you will surely be able to find those news.

True, unless bitcoin exponentially increases the market cap, which would seem impossible because of how high the difficulty would have to rise for new blocks to be mined. I think it would make banks stronger if banks utilized bitcoin in their business.

yes i am agree with you. i also think that bitcoin will even make the banks more stronger and stable. if once they accept bitcoin and let the people do transaction on betting.

[guoyu78]

because bank can't control bitcoin, bank can't freeze bitcoin account, bank can't blocking bitcoin transaction.
but in fact blockchain, the technology behind bitcoin make bank interesting to adopt it.

well thats true though governments can just ban bitcoins and most people wouldnt use it then in my opinion, i think it would be great if banks disappeared because of the bitcoins

They can ban the bitcoin but they are not gonna do this for sure, I really think there is no such chance that they will.
They have no reason for it and they can also not stop it even if they are banning it.

actually there is a huge chance of htis happening, in my opinion governments might do this in order save the banks and that would be really bad for the bitcoin community

I think its no chance that bitcoin will be ban its different in banks because you can use banks only for local not international unlike bitcoin.. bitcoin is just the same as paypal.. we are using bitcoin for transaction paying for service or buy something online.. so no banks involve.. and i think its a perfect couple if banks and bitcoin will partner business they will use bitcoins for online and if someone withdraw bitcoin to fiat they can easily withdraw bitcoin in their banks..

They should really connect with bitcoin. This is another profit from them. No loss will come. Businesses would want bitcoin to be back in fiat and here they enter with a little percentage of what is exchanged.

You are right if they adopt bitcoin then it will be an improvement in their business and with that they will earn more profit, just like paypal as they noticed that no the time of bitcoin is going to start they started to adopt bitcoin in their system and also joined coinbase.

[gerXhonza]

I don't think so. Banks are the foundation of money in general.
Soon enough, banks may actually use bitcoin as one of the main currencies.

That is possible that banks will start adopting bitcoin, but there is no chance that bitcoin can replace banks as the size of banking system is too huge, comparatively bitcoin is still too small.

Yep. The bitcoin market cap is just too small to even challenge all banks.
There are already banks in London that are thinking of adopting bitcoins. Just look it up in your search engines and you will surely be able to find those news.

True, unless bitcoin exponentially increases the market cap, which would seem impossible because of how high the difficulty would have to rise for new blocks to be mined. I think it would make banks stronger if banks utilized bitcoin in their business.

yes i am agree with you. i also think that bitcoin will even make the banks more stronger and stable. if once they accept bitcoin and let the people do transaction on betting.

You mean to say that betting on gambling? That will never happen as gambling is illegal in many countries and banks believes in legal business and to be honest banks will never support bitcoins for sure.

[shinratensei_]

I don't think so. Banks are the foundation of money in general.
Soon enough, banks may actually use bitcoin as one of the main currencies.

That is possible that banks will start adopting bitcoin, but there is no chance that bitcoin can replace banks as the size of banking system is too huge, comparatively bitcoin is still too small.

Yep. The bitcoin market cap is just too small to even challenge all banks.
There are already banks in London that are thinking of adopting bitcoins. Just look it up in your search engines and you will surely be able to find those news.

True, unless bitcoin exponentially increases the market cap, which would seem impossible because of how high the difficulty would have to rise for new blocks to be mined. I think it would make banks stronger if banks utilized bitcoin in their business.

yes i am agree with you. i also think that bitcoin will even make the banks more stronger and stable. if once they accept bitcoin and let the people do transaction on betting.

I can say NEVER, betting is included in illegal activities in a lot of countries,whether the bank is crazy to let people do the transaction on betting? maybe yes for bitcoin but it's impossible for now and no for betting I sure they will getting a protest from a lot of people in community or government.

[chaosknight]

I don't think so. Banks are the foundation of money in general.
Soon enough, banks may actually use bitcoin as one of the main currencies.

That is possible that banks will start adopting bitcoin, but there is no chance that bitcoin can replace banks as the size of banking system is too huge, comparatively bitcoin is still too small.

Yep. The bitcoin market cap is just too small to even challenge all banks.
There are already banks in London that are thinking of adopting bitcoins. Just look it up in your search engines and you will surely be able to find those news.

True, unless bitcoin exponentially increases the market cap, which would seem impossible because of how high the difficulty would have to rise for new blocks to be mined. I think it would make banks stronger if banks utilized bitcoin in their business.

yes i am agree with you. i also think that bitcoin will even make the banks more stronger and stable. if once they accept bitcoin and let the people do transaction on betting.

I can say NEVER, are you kidding me? betting is included in illegal activities in a lot of countries,does bank is crazy to let people do the transaction on betting? maybe yes for bitcoin but it's impossible for now and no for betting I sure they will getting a protest from a lot of people in community or government.

I don't understand why people will choose banks for gambling if they have freedom to gamble online with bitcoins without disclosing their identity.

[boyptc]

I don't think so. Banks are the foundation of money in general.
Soon enough, banks may actually use bitcoin as one of the main currencies.

That is possible that banks will start adopting bitcoin, but there is no chance that bitcoin can replace banks as the size of banking system is too huge, comparatively bitcoin is still too small.

Yep. The bitcoin market cap is just too small to even challenge all banks.
There are already banks in London that are thinking of adopting bitcoins. Just look it up in your search engines and you will surely be able to find those news.

True, unless bitcoin exponentially increases the market cap, which would seem impossible because of how high the difficulty would have to rise for new blocks to be mined. I think it would make banks stronger if banks utilized bitcoin in their business.

yes i am agree with you. i also think that bitcoin will even make the banks more stronger and stable. if once they accept bitcoin and let the people do transaction on betting.

I can say NEVER, are you kidding me? betting is included in illegal activities in a lot of countries,does bank is crazy to let people do the transaction on betting? maybe yes for bitcoin but it's impossible for now and no for betting I sure they will getting a protest from a lot of people in community or government.

I don't understand why people will choose banks for gambling if they have freedom to gamble online with bitcoins without disclosing their identity.

Well we don't know the reason behind why they are choosing to do that rather than gambling alone with bitcoin. But let's go back to the topic,
It is really impossible that bitcoin is going to make those banks disappear because from the start banks are already there.
And the government needs more to know the use about bitcoin before it decides to make banks disappear.

[shinratensei_]

I don't think so. Banks are the foundation of money in general.
Soon enough, banks may actually use bitcoin as one of the main currencies.

That is possible that banks will start adopting bitcoin, but there is no chance that bitcoin can replace banks as the size of banking system is too huge, comparatively bitcoin is still too small.

Yep. The bitcoin market cap is just too small to even challenge all banks.
There are already banks in London that are thinking of adopting bitcoins. Just look it up in your search engines and you will surely be able to find those news.

True, unless bitcoin exponentially increases the market cap, which would seem impossible because of how high the difficulty would have to rise for new blocks to be mined. I think it would make banks stronger if banks utilized bitcoin in their business.

yes i am agree with you. i also think that bitcoin will even make the banks more stronger and stable. if once they accept bitcoin and let the people do transaction on betting.

I can say NEVER, are you kidding me? betting is included in illegal activities in a lot of countries,does bank is crazy to let people do the transaction on betting? maybe yes for bitcoin but it's impossible for now and no for betting I sure they will getting a protest from a lot of people in community or government.

I don't understand why people will choose banks for gambling if they have freedom to gamble online with bitcoins without disclosing their identity.

Because who people choose banks for gambling is they do not know or familiar about bitcoin, in my environment there are some people is trying using the bank for gambling and they were getting into the jail for now. and after I ask about them with their close people they say "they are unfamiliar with technology especially for bitcoin having zero percentage about that." Even ,their close people also not know about bitcoin and technology too, it's very rarely to finding people who know about bitcoin in here.

Well we don't know the reason behind why they are choosing to do that rather than gambling alone with bitcoin. But let's go back to the topic,
It is really impossible that bitcoin is going to make those banks disappear because from the start banks are already there.
And the government needs more to know the use about bitcoin before it decides to make banks disappear.

It's not true bitcoin will never disappear just because bitcoin, the bank is feeling comfort with this situation maybe they will lose some of their members because bitcoin. but in fact, bitcoin can't stand alone in my opinions bitcoin still relies on the bank from the value of bitcoin is still measured by fiat money.

[opossum]

I don't think so. Banks are the foundation of money in general.
Soon enough, banks may actually use bitcoin as one of the main currencies.

That is possible that banks will start adopting bitcoin, but there is no chance that bitcoin can replace banks as the size of banking system is too huge, comparatively bitcoin is still too small.

Yep. The bitcoin market cap is just too small to even challenge all banks.
There are already banks in London that are thinking of adopting bitcoins. Just look it up in your search engines and you will surely be able to find those news.

True, unless bitcoin exponentially increases the market cap, which would seem impossible because of how high the difficulty would have to rise for new blocks to be mined. I think it would make banks stronger if banks utilized bitcoin in their business.

yes i am agree with you. i also think that bitcoin will even make the banks more stronger and stable. if once they accept bitcoin and let the people do transaction on betting.

I can say NEVER, are you kidding me? betting is included in illegal activities in a lot of countries,does bank is crazy to let people do the transaction on betting? maybe yes for bitcoin but it's impossible for now and no for betting I sure they will getting a protest from a lot of people in community or government.

I don't understand why people will choose banks for gambling if they have freedom to gamble online with bitcoins without disclosing their identity.

Well we don't know the reason behind why they are choosing to do that rather than gambling alone with bitcoin. But let's go back to the topic,
It is really impossible that bitcoin is going to make those banks disappear because from the start banks are already there.
And the government needs more to know the use about bitcoin before it decides to make banks disappear.

Banks have support from Government and society as people are involved with banks since its inception so its really hard for people to quit banks and switch to bitcoins.

[shinratensei_]

I don't think so. Banks are the foundation of money in general.
Soon enough, banks may actually use bitcoin as one of the main currencies.

That is possible that banks will start adopting bitcoin, but there is no chance that bitcoin can replace banks as the size of banking system is too huge, comparatively bitcoin is still too small.

Yep. The bitcoin market cap is just too small to even challenge all banks.
There are already banks in London that are thinking of adopting bitcoins. Just look it up in your search engines and you will surely be able to find those news.

True, unless bitcoin exponentially increases the market cap, which would seem impossible because of how high the difficulty would have to rise for new blocks to be mined. I think it would make banks stronger if banks utilized bitcoin in their business.

yes i am agree with you. i also think that bitcoin will even make the banks more stronger and stable. if once they accept bitcoin and let the people do transaction on betting.

I can say NEVER, are you kidding me? betting is included in illegal activities in a lot of countries,does bank is crazy to let people do the transaction on betting? maybe yes for bitcoin but it's impossible for now and no for betting I sure they will getting a protest from a lot of people in community or government.

I don't understand why people will choose banks for gambling if they have freedom to gamble online with bitcoins without disclosing their identity.

Well we don't know the reason behind why they are choosing to do that rather than gambling alone with bitcoin. But let's go back to the topic,
It is really impossible that bitcoin is going to make those banks disappear because from the start banks are already there.
And the government needs more to know the use about bitcoin before it decides to make banks disappear.

It's not true bitcoin will never disappear just because bitcoin, the bank is feeling comfort with this situation maybe they will lose some of their members because bitcoin. but in fact, bitcoin can't stand alone in my opinions bitcoin still relies on the bank from the value of bitcoin is still measured by fiat money.

[boyptc]

I don't think so. Banks are the foundation of money in general.
Soon enough, banks may actually use bitcoin as one of the main currencies.

That is possible that banks will start adopting bitcoin, but there is no chance that bitcoin can replace banks as the size of banking system is too huge, comparatively bitcoin is still too small.

Yep. The bitcoin market cap is just too small to even challenge all banks.
There are already banks in London that are thinking of adopting bitcoins. Just look it up in your search engines and you will surely be able to find those news.

True, unless bitcoin exponentially increases the market cap, which would seem impossible because of how high the difficulty would have to rise for new blocks to be mined. I think it would make banks stronger if banks utilized bitcoin in their business.

yes i am agree with you. i also think that bitcoin will even make the banks more stronger and stable. if once they accept bitcoin and let the people do transaction on betting.

I can say NEVER, are you kidding me? betting is included in illegal activities in a lot of countries,does bank is crazy to let people do the transaction on betting? maybe yes for bitcoin but it's impossible for now and no for betting I sure they will getting a protest from a lot of people in community or government.

I don't understand why people will choose banks for gambling if they have freedom to gamble online with bitcoins without disclosing their identity.

Well we don't know the reason behind why they are choosing to do that rather than gambling alone with bitcoin. But let's go back to the topic,
It is really impossible that bitcoin is going to make those banks disappear because from the start banks are already there.
And the government needs more to know the use about bitcoin before it decides to make banks disappear.

It's not true bitcoin will never disappear just because bitcoin, the bank is feeling comfort with this situation maybe they will lose some of their members because bitcoin. but in fact, bitcoin can't stand alone in my opinions bitcoin still relies on the bank from the value of bitcoin is still measured by fiat money.

Well we can't tell we have our own opinions about it but it is much better if the banks are not going to disappear because it plays a very important role in the economy of the country they serves as the one who controls the flow of the money in the economy.

[bitkilo]

Banks won't just dissappear they will just adapt as they always have.
Many banks are already openly exploring ways to use the blockchain technology to further their own development.

They may have to start offering much better rates if more and more people move to using bitcoin but that will take a big change for that to happen in western countries, people have just trusted and relied on them for too long now.

[avw1982]

Banks won't just dissappear they will just adapt as they always have.
Many banks are already openly exploring ways to use the blockchain technology to further their own development.

They may have to start offering much better rates if more and more people move to using bitcoin but that will take a big change for that to happen in western countries, people have just trusted and relied on them for too long now.

People will need both wallets and banks in my opinion, Bitcoin is needing a long time to being used worldwide as first global currency instead fiat, and banks will help to advertise it by exchange the coins to other currencies.
If there is any adoption in banking side on bitcoins means then possible to work on banking side as well. But completely disappear banking.

[madwica]

I don't think so. Banks are the foundation of money in general.
Soon enough, banks may actually use bitcoin as one of the main currencies.

That is possible that banks will start adopting bitcoin, but there is no chance that bitcoin can replace banks as the size of banking system is too huge, comparatively bitcoin is still too small.

Yep. The bitcoin market cap is just too small to even challenge all banks.
There are already banks in London that are thinking of adopting bitcoins. Just look it up in your search engines and you will surely be able to find those news.

True, unless bitcoin exponentially increases the market cap, which would seem impossible because of how high the difficulty would have to rise for new blocks to be mined. I think it would make banks stronger if banks utilized bitcoin in their business.

yes i am agree with you. i also think that bitcoin will even make the banks more stronger and stable. if once they accept bitcoin and let the people do transaction on betting.

I can say NEVER, are you kidding me? betting is included in illegal activities in a lot of countries,does bank is crazy to let people do the transaction on betting? maybe yes for bitcoin but it's impossible for now and no for betting I sure they will getting a protest from a lot of people in community or government.

I don't understand why people will choose banks for gambling if they have freedom to gamble online with bitcoins without disclosing their identity.

Well we don't know the reason behind why they are choosing to do that rather than gambling alone with bitcoin. But let's go back to the topic,
It is really impossible that bitcoin is going to make those banks disappear because from the start banks are already there.
And the government needs more to know the use about bitcoin before it decides to make banks disappear.

It's not true bitcoin will never disappear just because bitcoin, the bank is feeling comfort with this situation maybe they will lose some of their members because bitcoin. but in fact, bitcoin can't stand alone in my opinions bitcoin still relies on the bank from the value of bitcoin is still measured by fiat money.

That is true bitcoin can not disappear banks and bitcoin is relying on it. I think if the value of bitcoin will continuous rising bank will observe if they will absorb the bitcoin to be additional currency offer to the client. Bitcoin have possibility to disappear but bank is continue to upgrade their system and never disappear.

[raaajlucky]

Nope Bitcoin is separate, and the bank is different. I think no people will take a risk in this. Because in Bank our money will be safe and it is our old storage. If anything happens bank, people will help us. IN Bitcoin it is not like that, It is very easy and helpful I agree, But security wise I prefer Bank.

[goinmerry]

Banks won't just dissappear they will just adapt as they always have.
Many banks are already openly exploring ways to use the blockchain technology to further their own development.

They may have to start offering much better rates if more and more people move to using bitcoin but that will take a big change for that to happen in western countries, people have just trusted and relied on them for too long now.

Yes it takes time to gain trust. And they have established that, that is why people will still be looking for a bank. They see it as the legal way though bitcoin is not illegal they would want someone who will do it for them in case they want to invest in bitcoin though bank

[ImHash]

I think it could but not for many years, you know now there are a lot of people not even know what to do with computers.
But 50 years from now almost 99% of earth's population will learn and use them more often so then we can hope
Every one use bitcoin as the only or main currency.

[Ryananda]

I don't think so. Banks are the foundation of money in general.
Soon enough, banks may actually use bitcoin as one of the main currencies.

That is possible that banks will start adopting bitcoin, but there is no chance that bitcoin can replace banks as the size of banking system is too huge, comparatively bitcoin is still too small.

Yep. The bitcoin market cap is just too small to even challenge all banks.
There are already banks in London that are thinking of adopting bitcoins. Just look it up in your search engines and you will surely be able to find those news.

True, unless bitcoin exponentially increases the market cap, which would seem impossible because of how high the difficulty would have to rise for new blocks to be mined. I think it would make banks stronger if banks utilized bitcoin in their business.

yes i am agree with you. i also think that bitcoin will even make the banks more stronger and stable. if once they accept bitcoin and let the people do transaction on betting.

I can say NEVER, are you kidding me? betting is included in illegal activities in a lot of countries,does bank is crazy to let people do the transaction on betting? maybe yes for bitcoin but it's impossible for now and no for betting I sure they will getting a protest from a lot of people in community or government.

I don't understand why people will choose banks for gambling if they have freedom to gamble online with bitcoins without disclosing their identity.

Well we don't know the reason behind why they are choosing to do that rather than gambling alone with bitcoin. But let's go back to the topic,
It is really impossible that bitcoin is going to make those banks disappear because from the start banks are already there.
And the government needs more to know the use about bitcoin before it decides to make banks disappear.

It's not true bitcoin will never disappear just because bitcoin, the bank is feeling comfort with this situation maybe they will lose some of their members because bitcoin. but in fact, bitcoin can't stand alone in my opinions bitcoin still relies on the bank from the value of bitcoin is still measured by fiat money.

That is true bitcoin can not disappear banks and bitcoin is relying on it. I think if the value of bitcoin will continuous rising bank will observe if they will absorb the bitcoin to be additional currency offer to the client. Bitcoin have possibility to disappear but bank is continue to upgrade their system and never disappear.

Yeah right bank system will continue to be updated and keep pace with the times so it is unlikely the bank will be left behind. And it is unlikely bitcoin will make banks disappear because it is impossible. Banks will be able to continue to get people's hearts. And in fact the bitcoin users still use banks to store the results of the sale bitcoin.

[Mr. Big]

I think it could but not for many years, you know now there are a lot of people not even know what to do with computers.
But 50 years from now almost 99% of earth's population will learn and use them more often so then we can hope
Every one use bitcoin as the only or main currency.

Even at 50 years, I do not think that banks will disappear just because new generation is computer oriented. bank workers are also are knowledgeable in computers and mostly banks have their own programmers, banks to develop and grow just like bitcoin, so I think it will still in race with bitcoin and wont be left behind..

[patronis]

Nope Bitcoin is separate, and the bank is different. I think no people will take a risk in this. Because in Bank our money will be safe and it is our old storage. If anything happens bank, people will help us. IN Bitcoin it is not like that, It is very easy and helpful I agree, But security wise I prefer Bank.

But what if there was a bank-like system made of just BTC? (Though it'll never happen, it's just food for thought)
If the issue is trust then I think just trusting something because its been around longer isn't the greatest plan, that system feeds off of blind trust. Trusting a bank over BTC isn't wrong but before trusting one over another maybe length of existence shouldn't be the only deciding factor.