Can Bitcoin make Banks disappear?

[Mr. Green]

Banking is a huge business. If something or someone makes banks disappear then people will disappear with them. Do you want your relatives and friends to disappear? I don't think so.

[stromma44]

i think yes it can if all the people stop using banks and use wallet for their money i think bank will disappear.

That's too much of a dream and "if"... Not all are into using bitcoin and if that would happen it will take more than this lifetime... One thing is for sure, bitcoin will be living along with banks and we can't convince all the people to use bitcoin alone... 

I also do agree that is merely to impossible situation that people would stop using the banks. People is likely more comfortable with banks in my opinion especially if they have to idea about bitcoin wallet. Even if they do most of them still has doubts.

Banks will never disappear, bitcoin is not that strong that it can replace the strongest financial institution that hold great support and the trust from its customers.

Absolutely , even if bitcoin is a good crypto currency right now that dominates the market bitcoin is been in the industry for i think a decade or less? Unlike bank which is already there since people started to used money as the primary payment.

The best thing to happen is that banks and cryptocurrencies can work together. I imagine banks hosting there own wallets for its clients.

Me too i was also thinking the same idea. Instead of being against to each other it would be much better if they are going to work together as this would benefit in both bitcoin and bank users or wait i think also the owners.

That will never happen, banks will never support bitcoins as its an competitor to banks and banks may adopt blockchain technology in future but will never shake hands with bitcoins.

[utkarshm]

No i don't see that happen in any time in future and I will say it's impossible to happen because we can not compare them.Bitcoin is a different thing all together,its a virtual currency and banks hold our fiat money and no matter how much popular bitcoins become in this world but they cannot replace banks.

[chixka000]

That will never happen, banks will never support bitcoins as its an competitor to banks and banks may adopt blockchain technology in future but will never shake hands with bitcoins.

Nothing really is impossible. Lol is there any evidences that the bank would really not support bitcoin?  If i am not mistaken i've seen some articles before that central banks are trying to know what is really blockchain's doing.

[Nivir]

That will never happen, banks will never support bitcoins as its an competitor to banks and banks may adopt blockchain technology in future but will never shake hands with bitcoins.

Nothing really is impossible. Lol is there any evidences that the bank would really not support bitcoin?  If i am not mistaken i've seen some articles before that central banks are trying to know what is really blockchain's doing.

Bank is a financial establishment that invests money deposited by customers, pays it out when required, makes loans at interest, and exchanges currency. In other words, banks don't care if it is cryptocurrencies, currencies, a parcel of land, buildings etc for as long as it has reliable value that they can take advantage they will take it. Not to mention most bank owners didn't just own banks but also lots of business entities.   

[Rahar02]

I doubt that will be the case at least in our current time, I think bitcoin can change the way money and economy works but banks are an established part of it, I think it would be more reasonable for bitcoin "banks" to appear sometime in the future when bitcoin is more mainstream.

Let's say Bitcoin does very well, and manages to reach 1% of the world population to adopt Bitcoin at some point, then still there are the other 99% where banks play a very important role in their life. Bitcoin won't even make a dent in the bank's way of doing business and how they exist. People must forget about that.

Banks has established around 8 centuries ago and still here until now with great foundation. I agree bitcoin can change the economy and how currencies works but won't replace banks because they could make a change to adoption bitcoin. Some banks will benefit from bitcoin, some will be pushed to the back end, and some will disappear. It may happen in 10-20 years for banks accept bitcoin and still depend on which country you stay because every country has the regulation.

[chixka000]

That will never happen, banks will never support bitcoins as its an competitor to banks and banks may adopt blockchain technology in future but will never shake hands with bitcoins.

Nothing really is impossible. Lol is there any evidences that the bank would really not support bitcoin?  If i am not mistaken i've seen some articles before that central banks are trying to know what is really blockchain's doing.

Bank is a financial establishment that invests money deposited by customers, pays it out when required, makes loans at interest, and exchanges currency. In other words, banks don't care if it is cryptocurrencies, currencies, a parcel of land, buildings etc for as long as it has reliable value that they can take advantage they will take it. Not to mention most bank owners didn't just own banks but also lots of business entities.   

Absolutely , you've nailed it mate. As long as there is money that is going in and out from their banks which can bitcoin really do then i think that the bank would still try to consider it because it is good for their business.

[BlackPanda]

BANK has different strengths and advantages compared with Bitcoin. BANK has been guaranteed by the government and financial institutions are also official. for now I'm sure BANK has survived the onslaught of bitcoin strength.

[8Habits]

No i don't see that happen in any time in future and I will say it's impossible to happen because we can not compare them.Bitcoin is a different thing all together,its a virtual currency and banks hold our fiat money and no matter how much popular bitcoins become in this world but they cannot replace banks.

Although banks can handle our money digitally without even using physical money in any transactions just like bitcoins, it is still not enough that bitcoin will replace current bank institutions of ours. As long as we are ruled by a government, banks (mostly owned by elite families of the societies) then it will continue to serve us for a longer period of time.

[vindicare]

bank will never disappear as they are the ones who comes first than bitcoin , maybe they will adapt or not but they will not disappear because they are being use by the top 100 fortune and they are important on the money/fiat side.

[umaOuma]

bank will never disappear as they are the ones who comes first than bitcoin , maybe they will adapt or not but they will not disappear because they are being use by the top 100 fortune and they are important on the money/fiat side.

Yes businesses and individuals needs banks for their day to day transactions as they are dealing in the terms of fiat and banks also provides its users multiple benefits which is not possible with bitcoins.

[8Habits]

bank will never disappear as they are the ones who comes first than bitcoin , maybe they will adapt or not but they will not disappear because they are being use by the top 100 fortune and they are important on the money/fiat side.

Indeed! Banks play a vital role in ordinary fiat money. However, just because they come first than bitcoin does not mean they won't really disappear - coming in first to the market is not guaranteed to stay there forever. However, really banks won't disappear in the coming of bitcoins - they can live together.

[randy8777]

bank will never disappear as they are the ones who comes first than bitcoin , maybe they will adapt or not but they will not disappear because they are being use by the top 100 fortune and they are important on the money/fiat side.

banks will never adopt bitcoin. it's something they can't control with the potential to disrupt the way they do business. banks are too deep integrated in the current economy. literally nothing can make them vanish. it's impossible.

[Mastsetad]

bank will never disappear as they are the ones who comes first than bitcoin , maybe they will adapt or not but they will not disappear because they are being use by the top 100 fortune and they are important on the money/fiat side.

Besides, there aren't as much people in the world using bitcoin as much are using banks for keeping their money, bitcoin community is quite large now but compared to the people using banks it is nothing.

[angryswamp]

That will never happen, banks will never support bitcoins as its an competitor to banks and banks may adopt blockchain technology in future but will never shake hands with bitcoins.

Nothing really is impossible. Lol is there any evidences that the bank would really not support bitcoin?  If i am not mistaken i've seen some articles before that central banks are trying to know what is really blockchain's doing.

thats true, in my opinion everything is possible with bitcoin and banks might soon be gone, hopefully that is going to be true at some point

[ironm@n]

I don't think so. In the current economy, banks are the foundation of money in general, and when I say money in general I refer to fiat money. But the things can, of course, change a lot with time.

[Doamader]

I don't think so. In the current economy, banks are the foundation of money in general, and when I say money in general I refer to fiat money. But the things can, of course, change a lot with time.

Thats true banks and fiat is what rules the world, bitcoin its just a small part of it, sure several services should improve and the digital era is coming, soo banks will change a bit over the future. Bitcoin is the first step into it, as all the others altcoins.

[knightkon]

That will never happen, banks will never support bitcoins as its an competitor to banks and banks may adopt blockchain technology in future but will never shake hands with bitcoins.

Nothing really is impossible. Lol is there any evidences that the bank would really not support bitcoin?  If i am not mistaken i've seen some articles before that central banks are trying to know what is really blockchain's doing.

I have to disagree with these comments to an extent.  Banks have the life span that we allow them to have.  Take marijuana for an example:  If you asked 20 years ago, would marijuana ever be legal in the United States, the answer would be no.  Now that more and more of the baby boomers are moving into government positions, this will be changing for there is more information the older government would not allow us to know to try to rake the truth under the rug.  Bitcoin is the same way.  Government will be fighting this because a large number of investors have their money invested into the banks.  This included the government itself.  As more and more people who understand bitcoin move into office, the more changes will take place.  You just have to give it time.

[Hatuferu]

I don't think so. In the current economy, banks are the foundation of money in general, and when I say money in general I refer to fiat money. But the things can, of course, change a lot with time.

Thats true banks and fiat is what rules the world, bitcoin its just a small part of it, sure several services should improve and the digital era is coming, soo banks will change a bit over the future. Bitcoin is the first step into it, as all the others altcoins.

Of course, bank will always rule because people trust them though they have a bigger transfer fee sometimes. Ordinary people will not gamble in bitcoin because they are afraid of losing their money and they are getting used already of depositing their money in banks as that is a government regulated establishment.

[danishcookie]

I t is very possible to replace bank, reasons:

1. bitcoin is faster than wire transfer
2. bitcoin transaction fee is very low, compare to international transfer
3. some banks use blockchain service now.