Can Bitcoin make Banks disappear?

[ajun96]

yes it can make banks disapper but it is not made for the compition it is made as an improved version of money system because bank system is the only chooise for us before bitcoin

How can bitcoin make bank disappear can you please elaborate ?

I think if you think about when bitcoin became popular and mainstream probably many people will think that it is possible to shift bitcoin fiat of the major currencies? but to be able to do it is a very difficult thing.
I think that as long as fiat currency is still the main bitcoin will not be able to eliminate bank

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[shinratensei_]

Banking Industry will not disapear. They will adapt to new technology, even cryptocurrencies. When all people use cryptocurrency , of course the bankers will put a lot of investment in cryptocurrencies so the technology of banking will follow the developpment of cryptocurrency.

But the bank just take the system are used by the crypto and never for following the development of crypto, the bank will make a different ideas and is not copied from the crypto ideas, but just seeing about how the bank and crypto will making a competition.

[boyptc]

Banking Industry will not disapear. They will adapt to new technology, even cryptocurrencies. When all people use cryptocurrency , of course the bankers will put a lot of investment in cryptocurrencies so the technology of banking will follow the developpment of cryptocurrency.

But the bank just take the system are used by the crypto and never for following the development of crypto, the bank will make a different ideas and is not copied from the crypto ideas, but just seeing about how the bank and crypto will making a competition.

Yes they won't copy the crypto ideas but they will going to make the same ideas as crypto does. Why? Because the people are using crypto so for sure they are going to make it happen but with the use of the local currencies. Just like USD, they are going to make USD digital but the same concept as the crypto currencies.

[stadus]

Banking Industry will not disapear. They will adapt to new technology, even cryptocurrencies. When all people use cryptocurrency , of course the bankers will put a lot of investment in cryptocurrencies so the technology of banking will follow the developpment of cryptocurrency.

But the bank just take the system are used by the crypto and never for following the development of crypto, the bank will make a different ideas and is not copied from the crypto ideas, but just seeing about how the bank and crypto will making a competition.

Yes they won't copy the crypto ideas but they will going to make the same ideas as crypto does. Why? Because the people are using crypto so for sure they are going to make it happen but with the use of the local currencies. Just like USD, they are going to make USD digital but the same concept as the crypto currencies.

They can't do that for a simple reason that bitcoin and banks have not similarity, the big factor that they cannot be similar is that banks are centralized while bitcoin is decentralized.

[danherbias07]

It is in history and some countries even put it in their paper money. I guess you cant just make it disappear. If that happen many changes will happen and that might include some chaos in the financial industry.

[Mr. Big]

It is in history and some countries even put it in their paper money. I guess you cant just make it disappear. If that happen many changes will happen and that might include some chaos in the financial industry.

That means a strong, superpower country conquered the world already and imposing the use of bitcoin and pushing the banks to go digital and all its paper money too...That's too impossible to happen... Besides banks in the world are not just owned by one and if one bank disappear perhaps a new one will appear, so that's impossible to happen... 

[Doms]

The banking industry plays a big role in our daily lives. Even if you don't have your own bank account, your government has a lot of dealings with local and foreign banks, either for loans or other financial agreements. Bitcoin is still a very small player compared to the banking system. Bitcoin needs to exponentially grow to even have a small share of the clients that the banks now have.

[bamboylee]

Banking Industry will not disapear. They will adapt to new technology, even cryptocurrencies. When all people use cryptocurrency , of course the bankers will put a lot of investment in cryptocurrencies so the technology of banking will follow the developpment of cryptocurrency.

Why would bank use cryptocurrency? They cannot control it, it is the exact opposite of bank where they operate base on trust while crypto is trustless. I think banks will not disappear though even if crypto become the major thing.

[machinek20]

Banking Industry will not disapear. They will adapt to new technology, even cryptocurrencies. When all people use cryptocurrency , of course the bankers will put a lot of investment in cryptocurrencies so the technology of banking will follow the developpment of cryptocurrency.

Why would bank use cryptocurrency? They cannot control it, it is the exact opposite of bank where they operate base on trust while crypto is trustless. I think banks will not disappear though even if crypto become the major thing.

That's exactly, why should bank adapt cryptocurrencies? and i dont think any crypto currencies will be agree if bank and cryptocurrencies work together, their main based idea is totally different, so i think the best both of them in their place separately
and nothing in this world can make bank disappear because it's the country financial stronghold, if bank disappear there will chaos in that country

[Caladonian]

Banking Industry will not disapear. They will adapt to new technology, even cryptocurrencies. When all people use cryptocurrency , of course the bankers will put a lot of investment in cryptocurrencies so the technology of banking will follow the developpment of cryptocurrency.

Why would bank use cryptocurrency? They cannot control it, it is the exact opposite of bank where they operate base on trust while crypto is trustless. I think banks will not disappear though even if crypto become the major thing.

that's right because there's still many people who doesn't want to take a risk they wont let their money to be at stake if they can only realized how the bank works but there's a lots of things to work out with btc before people will embrace the potentials.

[Zadicar]

Banking Industry will not disapear. They will adapt to new technology, even cryptocurrencies. When all people use cryptocurrency , of course the bankers will put a lot of investment in cryptocurrencies so the technology of banking will follow the developpment of cryptocurrency.

Why would bank use cryptocurrency? They cannot control it, it is the exact opposite of bank where they operate base on trust while crypto is trustless. I think banks will not disappear though even if crypto become the major thing.

That's exactly, why should bank adapt cryptocurrencies? and i dont think any crypto currencies will be agree if bank and cryptocurrencies work together, their main based idea is totally different, so i think the best both of them in their place separately
and nothing in this world can make bank disappear because it's the country financial stronghold, if bank disappear there will chaos in that country

As you said they are really different from each  other and  i would totally agree with you hence  bitcoins is a digital currency while  bank  is a fiat storage and they differ in any way and also banks  are just storing  fiat  and would not intend  to engage on cryptos  because banks are  being controled by the government.

[South Park]

Bank will never be disappeared if they becoming scam lots of people are going to file a case for those owner of a banks, Well from me banks are stsrting adopting bitcoins ad technology base in my country we can deposit our bitcoins into banks.

And what do you think it will come off those possible cases against the banks? Banks and bankers are too powerful they will never suffer the consequences of their actions.

The law is for the people and for the companies, sure they can try to buy the law, but sooner or later someone will find and put them into the jail, banks doesnt need and wont scam, they make and earn huge loads of money all years, dont expect bitcoin to be a problem to them, just few of us able to live without them.

They don’t have to try, they already did, banks don’t scam? A few years ago HSBC was investigated for money laundering, what do you think it happened, nothing just a fine, a gigantic fine for any of us, but nothing for a bank.

[Bameras]

Bank will never be disappeared if they becoming scam lots of people are going to file a case for those owner of a banks, Well from me banks are stsrting adopting bitcoins ad technology base in my country we can deposit our bitcoins into banks.

And what do you think it will come off those possible cases against the banks? Banks and bankers are too powerful they will never suffer the consequences of their actions.

The law is for the people and for the companies, sure they can try to buy the law, but sooner or later someone will find and put them into the jail, banks doesnt need and wont scam, they make and earn huge loads of money all years, dont expect bitcoin to be a problem to them, just few of us able to live without them.

They don’t have to try, they already did, banks don’t scam? A few years ago HSBC was investigated for money laundering, what do you think it happened, nothing just a fine, a gigantic fine for any of us, but nothing for a bank.

These big banks are criminals or help the criminals. Quite a few got fined for doing bad things.

[doraemon1]

No I do think this can happen in my opinion this is highly unlikely but we will see what is gonna happen of course because the fact is that its not to predict.
The banks are controlling the world and they have a lot of power that is why I do not think the bitcoin do it.

[subhiii]

In future, when bitcoin will dominate in sending - receiving - depositing funds kind of bank works, I believe banks will start different type of banking like providing safe vault or mortgage kind of services alone. Banks will fall.

[co5hike]

In future, when bitcoin will dominate in sending - receiving - depositing funds kind of bank works, I believe banks will start different type of banking like providing safe vault or mortgage kind of services alone. Banks will fall.

I don't think the banks will fall either just because of bitcoin. Remember who is with banks and that is the supreme government of a country. And I don't think that government is going to allow it for banks are really important in a cycle of an economy of a country but I think that bitcoin will be considered by government too.

Exactly, banks have support from the governments and even from the people as it is the strongest financial institution we have which is running since long time and the fact is that people have blind trust on it.

[bamboylee]

Banking Industry will not disapear. They will adapt to new technology, even cryptocurrencies. When all people use cryptocurrency , of course the bankers will put a lot of investment in cryptocurrencies so the technology of banking will follow the developpment of cryptocurrency.

Why would bank use cryptocurrency? They cannot control it, it is the exact opposite of bank where they operate base on trust while crypto is trustless. I think banks will not disappear though even if crypto become the major thing.

that's right because there's still many people who doesn't want to take a risk they wont let their money to be at stake if they can only realized how the bank works but there's a lots of things to work out with btc before people will embrace the potentials.

Banks have been here for a very long time that people have developed a blind trust in it that is why do not care what the banks are doing in our money. If they understand this, they will absolutely switch to bitcoin.

[futurebit640]

In future, when bitcoin will dominate in sending - receiving - depositing funds kind of bank works, I believe banks will start different type of banking like providing safe vault or mortgage kind of services alone. Banks will fall.

I don't think the banks will fall either just because of bitcoin. Remember who is with banks and that is the supreme government of a country. And I don't think that government is going to allow it for banks are really important in a cycle of an economy of a country but I think that bitcoin will be considered by government too.

Exactly, banks have support from the governments and even from the people as it is the strongest financial institution we have which is running since long time and the fact is that people have blind trust on it.

Yes, i agree that Bitcoin may dominate sending, receiving and depositing funds kind of bank works, But The Bitcoin wallet is not safe like Bank accounts. Yes if anything fraud happened in Bank means the government will take care of that, But the same fraud occurs in Bitcoin wallet means who will take care of it, Where you raise your complaint. So I think Bank will never disappear.

[goinmerry]

Banking Industry will not disapear. They will adapt to new technology, even cryptocurrencies. When all people use cryptocurrency , of course the bankers will put a lot of investment in cryptocurrencies so the technology of banking will follow the developpment of cryptocurrency.

Why would bank use cryptocurrency? They cannot control it, it is the exact opposite of bank where they operate base on trust while crypto is trustless. I think banks will not disappear though even if crypto become the major thing.

that's right because there's still many people who doesn't want to take a risk they wont let their money to be at stake if they can only realized how the bank works but there's a lots of things to work out with btc before people will embrace the potentials.

Banks have been here for a very long time that people have developed a blind trust in it that is why do not care what the banks are doing in our money. If they understand this, they will absolutely switch to bitcoin.

They use our money also to create an incone for them. The problem is they just give a little portion to the people who are putting their money in banks. Even if they are making a lot of money from it. People are already thankful for that little portion that they didnt even know they should be receiving more.

[dearbesz1219]

I don't think that bitcoin make disappear. Though I know there is a possibility to be happen. But in this point of time bitcoin is in the stage of due process of popularity. I do believe a years from now it will become a well known digital currency worldwide, because of its benefits for the users and advantage too.