Can Bitcoin make Banks disappear?

[gilangIDR]

At best bitcoin will force an evolution of banks basically banks as we know it may disappear but a new model will emerge and probably be as strong as always.

yes we should be confident that the future bitcoin will make the financial system in the world is getting stronger. so do not ever blame and dropping each other.

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[requester]

Bitcoin and bank both are different and both serves different purpose and to be honest bitcoin can't replace or remove banks because bitcoin us a digital currency and banks are for paper currency. But it's true that banks could adopt bitcoin system for making transaction easier and make online money system much secure and transparent which will also eradicate black money and money robbery.

[umaOuma]

At best bitcoin will force an evolution of banks basically banks as we know it may disappear but a new model will emerge and probably be as strong as always.

yes we should be confident that the future bitcoin will make the financial system in the world is getting stronger. so do not ever blame and dropping each other.

Bitcoin will surely change the financial system in future but its hard to believe that it can make banks disappear as in future even banks will get more stronger.

[SmirnoffVany]

At best bitcoin will force an evolution of banks basically banks as we know it may disappear but a new model will emerge and probably be as strong as always.

yes we should be confident that the future bitcoin will make the financial system in the world is getting stronger. so do not ever blame and dropping each other.

Bitcoin will surely change the financial system in future but its hard to believe that it can make banks disappear as in future even banks will get more stronger.

Bitcoin is no substitute for banks and it is unique. Cryptocurrency itself will be appreciated expensive because bitcoin reserves run out, and therefore its price will rise strongly.

[dearbesz1219]

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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I think not, though banks in the future can make disappear but its not for bitcoin reason. In some other instances Bitcoin in the near future will adopt by  the other bank according to my perception.

[dearbesz1219]

bitcoin make banks disappear? oh no. I think it will not happen because you also know that the bank is a financial institution that is very important for the economy, so the bank may not be disappear because bitcoin

We the same assessment regarding this matter. And that's the reality of it actually, but in some reason or case bitcoin can possibly help the other bank if the owner of the bank will just see the advantage of and benefits of bitcoin.

[Tyrantt]

bitcoin make banks disappear? oh no. I think it will not happen because you also know that the bank is a financial institution that is very important for the economy, so the bank may not be disappear because bitcoin

We the same assessment regarding this matter. And that's the reality of it actually, but in some reason or case bitcoin can possibly help the other bank if the owner of the bank will just see the advantage of and benefits of bitcoin.

yeah, bitcoin won't make banks dissapear, don't think anything will but banks will find a way to incorporate bitcoin and find a way to make profit just as with the fiat currencies.

[Noctis Connor]

Thinking bitcoin can make banks dissappear is maybe a little bit too ambitious but it can make banks lose money ofcourse I think it's already doing that.
Ofcourse banks don't feel the pain yet but when it gets more globally adopted then they will feel the pain for sure.

Ofcourse banks don't care about bitcoin and bitcoin needs bank if you are going to choose between that two you choosen the right one the banks and it is more okay if you people are going to choose bank than bitcoins then

[tampazeus]

Thinking bitcoin can make banks dissappear is maybe a little bit too ambitious but it can make banks lose money ofcourse I think it's already doing that.
Ofcourse banks don't feel the pain yet but when it gets more globally adopted then they will feel the pain for sure.

Ofcourse banks don't care about bitcoin and bitcoin needs bank if you are going to choose between that two you choosen the right one the banks and it is more okay if you people are going to choose bank than bitcoins then

Bitcoin cannot be used anywhere at a moment physically and to spend them we need to sell them and convert it to fiat currency and for that we need banks for transaction.

[Bitcoinsummoner]

Thinking bitcoin can make banks dissappear is maybe a little bit too ambitious but it can make banks lose money ofcourse I think it's already doing that.
Ofcourse banks don't feel the pain yet but when it gets more globally adopted then they will feel the pain for sure.

Ofcourse banks don't care about bitcoin and bitcoin needs bank if you are going to choose between that two you choosen the right one the banks and it is more okay if you people are going to choose bank than bitcoins then

Bitcoin cannot be used anywhere at a moment physically and to spend them we need to sell them and convert it to fiat currency and for that we need banks for transaction.

For now yes but i hope someday bitcoin will be acceptable in the future. but we can still need banks if we need to exchange our bitcoin into fiat..
Banks still needed because only banks can exchange our bitcoins.

[Caladonian]

Thinking bitcoin can make banks dissappear is maybe a little bit too ambitious but it can make banks lose money ofcourse I think it's already doing that.
Ofcourse banks don't feel the pain yet but when it gets more globally adopted then they will feel the pain for sure.

Ofcourse banks don't care about bitcoin and bitcoin needs bank if you are going to choose between that two you choosen the right one the banks and it is more okay if you people are going to choose bank than bitcoins then

Bitcoin cannot be used anywhere at a moment physically and to spend them we need to sell them and convert it to fiat currency and for that we need banks for transaction.

For now yes but i hope someday bitcoin will be acceptable in the future. but we can still need banks if we need to exchange our bitcoin into fiat..
Banks still needed because only banks can exchange our bitcoins.

Banks are important in our lives because it is the one that helps to regulate the use of money in a country and if bitcoin is going to make banks disappear then the government is going to have hard time to regulate the use of bitcoin. And for me it is impossible to make banks disappear because of bitcoin, that is only possible if the government implements so.

and thats really hard to have government to implement a currency that they dont have full control because it will take their country at risk if btc will fall their economy will fall together and we know that fluctuation is always present with btc unless it will be establish in a certain price.

[Dudeperfect]

I don’t think that anything like crypto currency can make banks disappear because we must understand the fact that there are still large number of people is using traditional payment method like fiat and the majority is more than 80% (even we are also using fiat) so there is no possibility that crypto can make banks disappear. At any stage of financial period, fiat will be there even after 50 years people will be using fiat but form might be different such as digital wallet.

I totally agree. Well, unless the whole countries in this world will be progressive enough and even the remotest place in this planet have access to fast internet and latest technology then, maybe, cryptocurrencies will be dominating and making banks quite disappear. But you know, the example here is just an ideal thing - it is a utopia. There are still many individuals - actually, millions of people that have no access to latest technology and gadgets due to financial constraint and they are using fiat money as their mode of commerce in their respective locations.

Don’t even talk about latest technology and gadgets, there are millions of people who don’t even get enough food for a living so the journey is too long for crypto currency to reach the last person. Probably it will take 100+ years for each and every person in remote place to understand and use bitcoin or other crypto currency.

[mastica]

There is no way that bitcoin can replace one of the main services that banks offers to the people, we do see p2p websites trying to make similiar things, and in the general scammers are running away with investors money, soo lets be realistic, its possible lend some bitcoins, but replace banks wont happen.

[boyptc]

There is no way that bitcoin can replace one of the main services that banks offers to the people, we do see p2p websites trying to make similiar things, and in the general scammers are running away with investors money, soo lets be realistic, its possible lend some bitcoins, but replace banks wont happen.

Yeah you are right, banks are regulated and governed by the government and I don't think that the government is going to allow this to happen. What is more possible to happen is that banks and government is the one that is going to make bitcoin disappear. Because the government is not able to control bitcoins.

[genos]

I don’t think that anything like crypto currency can make banks disappear because we must understand the fact that there are still large number of people is using traditional payment method like fiat and the majority is more than 80% (even we are also using fiat) so there is no possibility that crypto can make banks disappear. At any stage of financial period, fiat will be there even after 50 years people will be using fiat but form might be different such as digital wallet.

I totally agree. Well, unless the whole countries in this world will be progressive enough and even the remotest place in this planet have access to fast internet and latest technology then, maybe, cryptocurrencies will be dominating and making banks quite disappear. But you know, the example here is just an ideal thing - it is a utopia. There are still many individuals - actually, millions of people that have no access to latest technology and gadgets due to financial constraint and they are using fiat money as their mode of commerce in their respective locations.

Don’t even talk about latest technology and gadgets, there are millions of people who don’t even get enough food for a living so the journey is too long for crypto currency to reach the last person. Probably it will take 100+ years for each and every person in remote place to understand and use bitcoin or other crypto currency.

I don't think that bitcoin can make bank dissapear. Even fiat will replaced by a gold in the future,probably bank is still needed to save the gold. Ofcourse bitcoin is still used but may be just take  a litle part. I do not think that technology will be a trouble becouse everyone would be rich in the future, include etiopia people. Place and distance would not be a trouble. Technology will reach everywhere in the earth. We still need the banks to save our worthly goods in the future. Bitcoin would not dissapear.

[Xenophoto]

There is no way that bitcoin can replace one of the main services that banks offers to the people, we do see p2p websites trying to make similiar things, and in the general scammers are running away with investors money, soo lets be realistic, its possible lend some bitcoins, but replace banks wont happen.

Bitcoin replacing banks is definitely possible. People use banks in order to secure their money. They can do this in Bitcoin as well. And just like you mentioned, there are users in the Bitcoin world that allows people to loan. Banks do this too but they make sure that you'll pay by taking a collateral or by doing a very good background check. And if you're problem is the fact that a lot of people runs away from the lender, this happens in real world too. I don't see any difference at all.

[Zadicar]

There is no way that bitcoin can replace one of the main services that banks offers to the people, we do see p2p websites trying to make similiar things, and in the general scammers are running away with investors money, soo lets be realistic, its possible lend some bitcoins, but replace banks wont happen.

Bitcoin replacing banks is definitely possible. People use banks in order to secure their money. They can do this in Bitcoin as well. And just like you mentioned, there are users in the Bitcoin world that allows people to loan. Banks do this too but they make sure that you'll pay by taking a collateral or by doing a very good background check. And if you're problem is the fact that a lot of people runs away from the lender, this happens in real world too. I don't see any difference at all.

I would disagree with you, bitcoin cant replace  banks  anytime soon since  fiat would be remain strong even  how  bitcoin would  progress  on  upcoming years or  future. If fiat could  be replace by bitcoin then thats the time you could say  that banks would disappear but  for me  im 100% sure it wont happen.

[madwica]

There is no way that bitcoin can replace one of the main services that banks offers to the people, we do see p2p websites trying to make similiar things, and in the general scammers are running away with investors money, soo lets be realistic, its possible lend some bitcoins, but replace banks wont happen.

Bitcoin replacing banks is definitely possible. People use banks in order to secure their money. They can do this in Bitcoin as well. And just like you mentioned, there are users in the Bitcoin world that allows people to loan. Banks do this too but they make sure that you'll pay by taking a collateral or by doing a very good background check. And if you're problem is the fact that a lot of people runs away from the lender, this happens in real world too. I don't see any difference at all.

I would disagree with you, bitcoin cant replace  banks  anytime soon since  fiat would be remain strong even  how  bitcoin would  progress  on  upcoming years or  future. If fiat could  be replace by bitcoin then thats the time you could say  that banks would disappear but  for me  im 100% sure it wont happen.

That would never happen that fiat will replaced by bitcoin and bitcoin replace the bank, Bank has a great services as all currency they adopt to give them income, i think bitcoin will be adopted soon by the bank if the progress of bitcoin will continuous or it will be more popular in each country.

[1Referee]

There is no way that bitcoin can replace one of the main services that banks offers to the people, we do see p2p websites trying to make similiar things, and in the general scammers are running away with investors money, soo lets be realistic, its possible lend some bitcoins, but replace banks wont happen.

Yeah you are right, banks are regulated and governed by the government and I don't think that the government is going to allow this to happen. What is more possible to happen is that banks and government is the one that is going to make bitcoin disappear. Because the government is not able to control bitcoins.

The only thing that governments can do is to push back Bitcoin by applying ridiculous policies towards companies operating in their country. If they forbid companies to work with Bitcoin in any way, then it will be much harder for the average joe to jump into Bitcoin. That's how they effectively can keep Bitcoin in a relatively small form.

[randy8777]

There is no way that bitcoin can replace one of the main services that banks offers to the people, we do see p2p websites trying to make similiar things, and in the general scammers are running away with investors money, soo lets be realistic, its possible lend some bitcoins, but replace banks wont happen.

Yeah you are right, banks are regulated and governed by the government and I don't think that the government is going to allow this to happen. What is more possible to happen is that banks and government is the one that is going to make bitcoin disappear. Because the government is not able to control bitcoins.

The only thing that governments can do is to push back Bitcoin by applying ridiculous policies towards companies operating in their country. If they forbid companies to work with Bitcoin in any way, then it will be much harder for the average joe to jump into Bitcoin. That's how they effectively can keep Bitcoin in a relatively small form.

that's an extreme action that they might take when bitcoin grows too large. that's why i like how bitcoin is in its current form. right now are still the good times. just imagine what will happen with regulations once bitcoin gains much wider terrain in the world. governments won't stay sleeping as they somewhat do right now. the difference will me immense.