Can Bitcoin make Banks disappear?

[BADecker]

Bank will never disappear, people will still using fiat till the end of the world no matter what happen with btc. Bitcoin is just a crypto currency that will never replace fiat currency. I have no doubt about it

it can replace fiat in terms of internet transaction but in the real sense of fiat bitcoin can never deal with that, because of limitation bitcoin can only be use in a system that needs computers or a electronic device it can never be use in a isolated place where people doesn't know how to use those equipment.

Can physical bitcoins be brought back? How safe are they?   

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[danherbias07]

Bank will never disappear, people will still using fiat till the end of the world no matter what happen with btc. Bitcoin is just a crypto currency that will never replace fiat currency. I have no doubt about it

it can replace fiat in terms of internet transaction but in the real sense of fiat bitcoin can never deal with that, because of limitation bitcoin can only be use in a system that needs computers or a electronic device it can never be use in a isolated place where people doesn't know how to use those equipment.

Can physical bitcoins be brought back? How safe are they?   

Okay I will bite with this question. Are we talking about the paper wallet here? Havent heard or seen a physical bitcoin. Does it really exist?

[Doamader]

Bank will never disappear, people will still using fiat till the end of the world no matter what happen with btc. Bitcoin is just a crypto currency that will never replace fiat currency. I have no doubt about it

I really do agree with  you, its really impossible  for a  digital  currency  to replace  the fiat currency which is  being  already used  since the   beggining  of   time and  people do  have really  trust on it and  fiat  is already  being established and   strong  for how many years already so that it would really impossible for this thing to be happen.

You are discounting the fact the human race is transitioning to a digital world where everything is already electronic. There would come a time where the paper money will no longer be used. Bitcoin or maybe another electronic currency will replace paper money! It is inevitable.

Be realistic, bitcoin wont replace fiat, we are changing into the digital era, and on the next years we will be doing anything with our phones or computers, the world is connected, now its a question of time till those change, banks are providing several services online already, they are following the market, and they will improve together, bitcoin cant replace them, as the services provided by the banks is quite away from bitcoin potencial.

[manselr]

Bank will never disappear, people will still using fiat till the end of the world no matter what happen with btc. Bitcoin is just a crypto currency that will never replace fiat currency. I have no doubt about it

I really do agree with  you, its really impossible  for a  digital  currency  to replace  the fiat currency which is  being  already used  since the   beggining  of   time and  people do  have really  trust on it and  fiat  is already  being established and   strong  for how many years already so that it would really impossible for this thing to be happen.

You are discounting the fact the human race is transitioning to a digital world where everything is already electronic. There would come a time where the paper money will no longer be used. Bitcoin or maybe another electronic currency will replace paper money! It is inevitable.

There will come a time when solar flares disrupt the electrical grid and electronic money will disappear. Fiat will go down at the same time, because it is electronic money.

I don't buy the solar flare apocalypse scenario at all, I think it's sci fi and not realistic. All that will happen is simply a period of certain parts of the earth going shut down but we will have a backup plan to function with stored energy by then.

In any case as soon as energy comes back the bitcoin system still works.

[oblivi]

If you are from the average bitcointalk user age range (so somewhere across the 20 to 40 year old age range, and im admittedly puling this statistic out my ass but I asume that is a reasonable range) then it's likely we will see the end of the banking industry as a whole, the whole concept of bank will change radically in the next decades because of bitcoin being able to be your own bank.

[requester]

yes there might be time when bitcoin and other digital currency will rule the financial sector and we will have no paper currency or something that we are using now. one can predict that progressively money is getting changed. so definitely something new will rule the planet

[IsaacBitcoiner]

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 think not, at least not very soon. People need paper money to buy stuff and pay daily expenses. Things may change in the future, of course, but right now people still rely on the banking system.

Actually, at the moment already exists many users who feel better using both payment systems, rather than using a single form of payment. As Bitcoin reaches more stability and its technology is recognized by more people, these people are likely to start using Bitcoin more often, as people tend to use what works more efficiently.

[BADecker]

Bank will never disappear, people will still using fiat till the end of the world no matter what happen with btc. Bitcoin is just a crypto currency that will never replace fiat currency. I have no doubt about it

it can replace fiat in terms of internet transaction but in the real sense of fiat bitcoin can never deal with that, because of limitation bitcoin can only be use in a system that needs computers or a electronic device it can never be use in a isolated place where people doesn't know how to use those equipment.

Can physical bitcoins be brought back? How safe are they?   

Okay I will bite with this question. Are we talking about the paper wallet here? Havent heard or seen a physical bitcoin. Does it really exist?

Google "physical bitcoins."

https://www.casascius.com/

http://www.coindesk.com/10-physical-bitcoins-good-bad-ugly/

[genos]

I think not, at least not very soon. People need paper money to buy stuff and pay daily expenses. Things may change in the future, of course, but right now people still rely on the banking system.

Yes you are right people still need bank to save their money. Fiat is realy needed in this day becouse the most people in the world are using fiat as a currency although the value of the fiat us decreased every years. So I think bitcoin will not make bank dissapear.

[markyminer]

I think not, at least not very soon. People need paper money to buy stuff and pay daily expenses. Things may change in the future, of course, but right now people still rely on the banking system.

Yes you are right people still need bank to save their money. Fiat is realy needed in this day becouse the most people in the world are using fiat as a currency although the value of the fiat us decreased every years. So I think bitcoin will not make bank dissapear.

yes very honestly, bitcoin is still not so much popular, and still majority of the people are using fiat currency, therefore the importance of banks cannot be ignore, and i think a time will come when banks will start accepting bitcoin and will create online wallets for them, so i think banks and bitcoin will work with each other in cooperation.

[Hatuferu]

I think not, at least not very soon. People need paper money to buy stuff and pay daily expenses. Things may change in the future, of course, but right now people still rely on the banking system.

Yes you are right people still need bank to save their money. Fiat is realy needed in this day becouse the most people in the world are using fiat as a currency although the value of the fiat us decreased every years. So I think bitcoin will not make bank dissapear.

yes very honestly, bitcoin is still not so much popular, and still majority of the people are using fiat currency, therefore the importance of banks cannot be ignore, and i think a time will come when banks will start accepting bitcoin and will create online wallets for them, so i think banks and bitcoin will work with each other in cooperation.

Banks are government regulated business while bitcoin is not regulated by the government, so tell me how would it make a big organization disappear. Bitcoin is popular to us in the crypto word because we are getting a lot of benefits here like we can make money and can gamble at the same time. However, in the real world you cannot spend your bitcoins to buy for your daily needs and you need bank to convert your bitcoins into fiat.

[chineseprancing]

I think not, at least not very soon. People need paper money to buy stuff and pay daily expenses. Things may change in the future, of course, but right now people still rely on the banking system.

Yes you are right people still need bank to save their money. Fiat is realy needed in this day becouse the most people in the world are using fiat as a currency although the value of the fiat us decreased every years. So I think bitcoin will not make bank dissapear.

yes very honestly, bitcoin is still not so much popular, and still majority of the people are using fiat currency, therefore the importance of banks cannot be ignore, and i think a time will come when banks will start accepting bitcoin and will create online wallets for them, so i think banks and bitcoin will work with each other in cooperation.

Banks are government regulated business while bitcoin is not regulated by the government, so tell me how would it make a big organization disappear. Bitcoin is popular to us in the crypto word because we are getting a lot of benefits here like we can make money and can gamble at the same time. However, in the real world you cannot spend your bitcoins to buy for your daily needs and you need bank to convert your bitcoins into fiat.

I am agree with this bitcoin is more popular to us, more people earn a lot of money in bitcoin and this would be used in online transactions and do trading to increase our profit. We can not spend bitcoin directly because there is no physical money yet of bitcoin.

[AceCobra1]

I think not, at least not very soon. People need paper money to buy stuff and pay daily expenses. Things may change in the future, of course, but right now people still rely on the banking system.

Yes you are right people still need bank to save their money. Fiat is realy needed in this day becouse the most people in the world are using fiat as a currency although the value of the fiat us decreased every years. So I think bitcoin will not make bank dissapear.

yes very honestly, bitcoin is still not so much popular, and still majority of the people are using fiat currency, therefore the importance of banks cannot be ignore, and i think a time will come when banks will start accepting bitcoin and will create online wallets for them, so i think banks and bitcoin will work with each other in cooperation.

Banks are government regulated business while bitcoin is not regulated by the government, so tell me how would it make a big organization disappear. Bitcoin is popular to us in the crypto word because we are getting a lot of benefits here like we can make money and can gamble at the same time. However, in the real world you cannot spend your bitcoins to buy for your daily needs and you need bank to convert your bitcoins into fiat.

At this stage we cannot spend our bitcoins directly to buy anything and to buy something we need to convert our bitcoins to fiat and we need banks for that, and even in future if bitcoin becomes more popular I don't think banks will disappear as we cannot expect that everyone will start using bitcoins.

[tempo7]

I often talk in a positive way of bitcoin's future but something like that is impossible i think. If you say that the bank's can use bitcoin, i said yes in the future for my thought but bitcoin can not disappear banks with it's own.

[Victorycoin]

I think one day in the future anything can be possible and certainly it is possible that bitcoin and blockchain technology can take over banking one day wince its simply better but the thing is the banks will fight as hard and as dirty as they can torevent that from happening and keep their precious profits.

I don't think so that anything will be possible in future. Because there much be some sort of exclusion of the technology. Even though this is going to give convenience to the people as with bitcoin they don't have to go to banks. But bank is one of the needed body agency or establishment by a country to manage the wealth of the people.

I am relatively sure that bitcoin will never be able to replace banks.
First of all bitcoin has too many weak spots. The blocksize problem, limited supply, low adaption, just to mention a few.
Then banks not only offer money transfer, they offer service. And that is something a lot of people need because they are overwhelmed just by managing an account.

It won't be bitcoin per say that stands a chance to reshape the banks, but the peer to peer technology that is behind bitcoin is going to throw in lots of changes in the way banks are presently operating. Already a number of banks are looking into how to adopt the technology and come up with their own version of bitcoin, but at any rate, it would still be an off shoot of bitcoin.

[Douglazzz]

Im bothering why my bitcoin bank account disappeared ? i thought the admin get my account and use it.

[Owl_Fintech]

I think not, but bitcoin is able to help people decreasing the dependence of banks. In fact, it's something that is already happening.

[serjent05]

I think not, but bitcoin is able to help people decreasing the dependence of banks. In fact, it's something that is already happening.

It is already happening ever since people decided not to trust bank even without bitcoin.  I don't think that bitcoin will make people not to use a bank for the real thing that happens is, when a bitcoin holder cash out, he tends to put his profit in a bank.  This is what most of us will do if we are lucky enough to book a profit or earn 1m USD in form of bitcoin.  Cash out and put it in a bank.

[mastica]

I think not, but bitcoin is able to help people decreasing the dependence of banks. In fact, it's something that is already happening.

It is already happening ever since people decided not to trust bank even without bitcoin.  I don't think that bitcoin will make people not to use a bank for the real thing that happens is, when a bitcoin holder cash out, he tends to put his profit in a bank.  This is what most of us will do if we are lucky enough to book a profit or earn 1m USD in form of bitcoin.  Cash out and put it in a bank.

Dont be soo blind, there is a small group of us that stopped use banks, some bitcoiners doesnt havent bank account at all, anyway as you stated we would cashout and put the money into the bank, this means in the end we do trust banks and their services, otherwise you would keep your bitcoins into your wallet.

[richardsNY]

I often talk in a positive way of bitcoin's future but something like that is impossible i think. If you say that the bank's can use bitcoin, i said yes in the future for my thought but bitcoin can not disappear banks with it's own.

Banks have no reason to use Bitcoin, so it will not happen. Their only interest is the blockchain technology that they value highly. Governments are the only entity with the ability to replace banks if they so wish. But that won't happen either. Banks fit perfectly in the system that is set up by the governments. Just forget about it people...