Can Bitcoin make Banks disappear?

[error08]

That will not happen. But I think that will not happen so fast. That is not so good for the people.
I think that more people will use also normal banks. And they dont know how to use Bitcoin.

Even I am thinking the same, bank will not disappear. may be bank will accepts bitcoin as a one of mode of payment.

Include me in your team guys.. I also don't think banks will disapear. I think it will never  happen. banks have their own importance

I'm in, never doubt of it even experts said about blockchain technology and banks might be adopt it. Banks has it own interests to keep grow and develop as one of foundation in countries. If banks collapse that mean the Nation is go down and bankrupt too, so every State will do anything to prevent it happen including adopt it.

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[2double0]

Banks have been there since ages and they have their own degree of limitations and Bitcoins have its own.
So whatever happens, banks won't disappear at any cost because we will still need them.

[Fatanut]

Banks have been there since ages and they have their own degree of limitations and Bitcoins have its own.
So whatever happens, banks won't disappear at any cost because we will still need them.

But apparently the age of something doesn't determine if it will stay longer or not. Everything can be replaced by a brand new idea. Those people that were in the barter system might thought that their payment method will never be replaced ever just like how you think fiat and the banking system will never disappear. But look at us now, the barter system has been replaced by fiat and fiat will eventually be replaced by a digital currency.

[wahb]

presently more than 95% of people are using bitcoin therefore it is not right to say that banks can disappear banks, although now people has started using bitcoin instead of fiat but not as on permanent bases, as still most of the daily uses stuff are not availing for buying in bitcoins.

[crairezx20]

Banks have been there since ages and they have their own degree of limitations and Bitcoins have its own.
So whatever happens, banks won't disappear at any cost because we will still need them.

But apparently the age of something doesn't determine if it will stay longer or not. Everything can be replaced by a brand new idea. Those people that were in the barter system might thought that their payment method will never be replaced ever just like how you think fiat and the banking system will never disappear. But look at us now, the barter system has been replaced by fiat and fiat will eventually be replaced by a digital currency.

Honestly even a bitcoin still good as investment or savings but banks will never disappear even bitcoin is new generation and new ideas its still just alternative and government won't accept it since its online.. banks are offline and online bitcoin is just for online activity you can not blame who or we can not start a case to owner of bitcoin since we dont know where they are live..  so banks will stay and never disappear..

[Mastsetad]

I don't think so because Bitcoin will not be in this position to make banks disappear. Bitcoin has survived and will grow more as parallel online payment procedure or digital currency but can not reach to be equivalent to banks at global level. Banks are necessary for backward countries and common people  to their day to day transactions.

Even if those backward countries or common people start or learn using bitcoins or any digital currencies but banks would still not disappear because they are the sources of economy of a country which is controlled by a government and bitcoin is not something that can be in control of a country as it is an anonymous coin used for other purposes but not to be used as a national currency of a country.

[Mr.grin]

Banks have been there since ages and they have their own degree of limitations and Bitcoins have its own.
So whatever happens, banks won't disappear at any cost because we will still need them.

you are right. although currently bitcoin emerging technology, I think the bank will not miss about that, and we can not argue that the bank was ahead of bitcoin. Well, the bank has earned the trust of the whole world, so I think it would be very difficult to make bank disappear.

[tenk]

Well, many people, have cash that they need.  Some people do not even know what Bitcoins.  Anda lot of businesses need the credit or lending from the bank, without bank a lot of businesses would not exist. Sad but true, most of the people in almost every country is still dependent on fiat, and they know what to do with it and how to run it, but bitcoins, they may know this, but still they are more interested in fiat, so they need the bank. This has always been the way. The traditional ways of living are hard to change, people tend to stick to those familiar ways and not be willing to change it unless something beneficial comes along that makes it easy to switch. But bitcoin is not at that stage yet.

[Basteamore]

That's only the words of extremist of bitcoins fans and field IMO, I think it's still too early for bitcoin to actually replace fiat or change the financial system. Bitcoin can be a great currency on the online field and for conducting transactions throughout the world.

[Doamader]

That's only the words of extremist of bitcoins fans and field IMO, I think it's still too early for bitcoin to actually replace fiat or change the financial system. Bitcoin can be a great currency on the online field and for conducting transactions throughout the world.

Bitcoin wont replace anything, bitcoin its just the future where we will be doing everything online, besides some things we cant do, the financial system is taking a lesson that is possible to moove milions for a small cost, not the high fees they do charge, we are making those companies and banks rich with the fees, they need to readjust to the world low cost fees that bitcoin is providing already.

[Victorycoin]

That's only the words of extremist of bitcoins fans and field IMO, I think it's still too early for bitcoin to actually replace fiat or change the financial system. Bitcoin can be a great currency on the online field and for conducting transactions throughout the world.

The argument is that bitcoin would make the bank to disappear literally, because it is a revolution in the way we are going to be seeing and using money going forward. Those banks that chooses to hold on to their "stone age master-piece," well they will be left behind and those innovative ones will be the banks of the future, as simple as that, life is dynamic!

[Meuh6879]

Shadow banking represent more than 18% of bank market now ... so, yes ... banks WILL be erased from the market by a better (and cheaper) industry.

lukely, we have build this industry.

[mirakal]

Shadow banking represent more than 18% of bank market now ... so, yes ... banks WILL be erased from the market by a better (and cheaper) industry.

lukely, we have build this industry.

Only if the government will allow that to happen. No question that bitcoin is a better way to do banking as we do not need the bank to transact.. We can transact anytime and the government will not know our finances, so this is s complete freedom for us.. We have to fight for it but our chance of winning is low.

[genos]

Banks will change or go under but they won't go away. They will always find some service, or product to provide that someone else will want to buy.

thats right mate whatever happen banks will find its way to still exist.

Anyway we still need bank to saving our worth property, although the most of people use bitcoin and bitcoin will be the one of currency that used in the world. Bank is realy great corporation that supported by goverment, bank will not easily gone becouse goverment will always help the bank. If bank suddenly gone, the country will realy big problem with their national economy.

[boyptc]

Banks will change or go under but they won't go away. They will always find some service, or product to provide that someone else will want to buy.

thats right mate whatever happen banks will find its way to still exist.

Anyway we still need bank to saving our worth property, although the most of people use bitcoin and bitcoin will be the one of currency that used in the world. Bank is realy great corporation that supported by goverment, bank will not easily gone becouse goverment will always help the bank. If bank suddenly gone, the country will realy big problem with their national economy.

That's true , we can't live without those banks because they are the ones who are helping and regulating the usage and flow of the money in a country. And I don't think the countries people won't allow this to happen since bitcoin is still new to their ears. They will trust more banks rather than trusting bitcoin as they are still lack of knowledge about it.

[Ryananda]

Banks will change or go under but they won't go away. They will always find some service, or product to provide that someone else will want to buy.

thats right mate whatever happen banks will find its way to still exist.

Anyway we still need bank to saving our worth property, although the most of people use bitcoin and bitcoin will be the one of currency that used in the world. Bank is realy great corporation that supported by goverment, bank will not easily gone becouse goverment will always help the bank. If bank suddenly gone, the country will realy big problem with their national economy.

That's true , we can't live without those banks because they are the ones who are helping and regulating the usage and flow of the money in a country. And I don't think the countries people won't allow this to happen since bitcoin is still new to their ears. They will trust more banks rather than trusting bitcoin as they are still lack of knowledge about it.

Yes very true, banks are very important for the country. Banks used to control the economy of a country. Bank has many uses and the community has been very comfortable with the use of the bank. Bank is already extremely strong and unlikely bitcoin could make it disappear. Bitcoin will continue to grow but will not affect the bank.

[croutonhexagon]

Nope this won't gonna happen because bitcoin and bank are not related to each other. Bitcoin server purpose of transaction without fees I mean less fees and bank charges heavy transaction fees but generally we use bank to store our money because it centralised and problem with decentralized is that if system get hacked then no one will come to give back my money.

[goinmerry]

No. But I am sure people will have some questions after they knew or experience what bitcoin is.
Let us try some examples.

Put 1 million USD in a bank. Wait for a year. Did you at least double your money after the long wait? NO!!!!
They just give you a little percentage of what they profited from the investment. What is more scary? In that span of a year anything could happen? What if that bank suddenly got broke and closes down?

In bitcoin, there is this $300 price from just months away in the past and now it is doubled. Those who have worked it out to make some more bitcoin with trading, faucets or some services not just doubled their money but also tripled it. Aint that cooler than just waiting for the bank to rob you?
Be a manager yourself here. STOP being lazy and move your ass. Banks are for lazy people who want their money to grow even if they almost die waiting.

[mirakal]

Nope this won't gonna happen because bitcoin and bank are not related to each other. Bitcoin server purpose of transaction without fees I mean less fees and bank charges heavy transaction fees but generally we use bank to store our money because it centralised and problem with decentralized is that if system get hacked then no one will come to give back my money.

Exactly, you cannot make this two different things work together. Bitcoin and banks has a lot of uniqueness that if we will consolidate the two ti will create a lot of problem.

Bitcoin is operated by the interest of the people while bitcoin is operated and controlled by the government. That alone cannot be consolidated as the government would always want us to comply.

[iam2good]

Bitcoin can never be destroyed no matter what effort is been made to bring it down.