Can Bitcoin make Banks disappear?

[TechnologyExplorer]

In my view, Bitcoins usage is still in nascent stage. And moreover, only few countries recognize this digital currency as legal. So, BTC doesn't have the potential to make banks disappear at least for next 5-10 years.

[1714720289]

1714720289

[bitbunnny]

Unfortunately banks will not disappear, not in our lifetime. The world is just to much depending on them. Bitcoin and other cryptocurrencies are not so spread throughout the world, in some are even illegal, and for its features can't replace the fiat money.
Governments and structures need banks and they will do everything to keep them alive.

[ekoice]

Bitcoin cant make banks disappear.There are lots of people who dont even know how to use computers.Bitcoin will be a secondary option in payment.Bitcoin would definitely decrease the number of people using banks for transactions. But banks are universally known to all.Banks will last at least for lending loans to customers.

[brian_23452]

Bitcoin cant make banks disappear.There are lots of people who dont even know how to use computers.Bitcoin will be a secondary option in payment.Bitcoin would definitely decrease the number of people using banks for transactions. But banks are universally known to all.Banks will last at least for lending loans to customers.

Yeah there is no doubt that more people will start using bitcoins in future once they are aware about it but that doesn't indicates that everyone will start using bitcoins and leave banks behind as people have more faith in the banks as they are using their services since long time and they will continue to use it in future too.

[knyolku123]

i think bicoin can make banks disappear, when all people using bitcoin and take their money from the bank. Its make bank bankrupt. or if was happen maybe bitcoin will disappear because goverment will banning bitcoin if bank bankrupt. its my oppinion.

[rizkyhiw]

Bitcoin cant make banks disappear.There are lots of people who dont even know how to use computers.Bitcoin will be a secondary option in payment.Bitcoin would definitely decrease the number of people using banks for transactions. But banks are universally known to all.Banks will last at least for lending loans to customers.

Yeah there is no doubt that more people will start using bitcoins in future once they are aware about it but that doesn't indicates that everyone will start using bitcoins and leave banks behind as people have more faith in the banks as they are using their services since long time and they will continue to use it in future too.

Basically noone knows what will happened in the future of world economy and money banking system
It could be bitcoin takeover world economy system and banking system dissapear
And it could be bitcoin itself get dissapeared not even to survive in longer time who knows?

[wxa7115]

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 as we know them may disappear, look what happen to investment banks, but banks are going to evolve they are not going to forfeit one of the most lucrative business without a fight.

[groll]

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.

Yes, it's true that in the real arena, most people rely on banks because fiat is the major currency being used by the majority. And it's a reason for a low possibility of making banks disappear. Maybe in time, bitcoins will grow bigger and could be one of the major currencies being used by people. But for now, banks cannot be dissolved since every state needs it.

[lionheart78]

i think bicoin can make banks disappear, when all people using bitcoin and take their money from the bank. Its make bank bankrupt. or if was happen maybe bitcoin will disappear because goverment will banning bitcoin if bank bankrupt. its my oppinion.

No it won't even though will completely use bitcoin it won't make banks disappear because banks are important for a society and the government is going to rely or completely force the people to keep on using banks. You know, government can control everything but not bitcoin so still they will not let bitcoin make banks disappear for they are earning great there.

Yes banks is heavily funded and government backed institution, so it is impossible for bitcoin to make bank disappear.  Aside from that bank services are well established and people gives high regard to whatever their bank suggested to them because of the trust level that is already established.  People that care less to financial system would more likely obey what their bank suggest them to do rather than hearing an anonymous person and be persuaded to accept bitcoin and trash the banking system in their lives. 

[quentincole32]

i think bicoin can make banks disappear, when all people using bitcoin and take their money from the bank. Its make bank bankrupt. or if was happen maybe bitcoin will disappear because goverment will banning bitcoin if bank bankrupt. its my oppinion.

No it won't even though will completely use bitcoin it won't make banks disappear because banks are important for a society and the government is going to rely or completely force the people to keep on using banks. You know, government can control everything but not bitcoin so still they will not let bitcoin make banks disappear for they are earning great there.

Yes banks is heavily funded and government backed institution, so it is impossible for bitcoin to make bank disappear.  Aside from that bank services are well established and people gives high regard to whatever their bank suggested to them because of the trust level that is already established.  People that care less to financial system would more likely obey what their bank suggest them to do rather than hearing an anonymous person and be persuaded to accept bitcoin and trash the banking system in their lives. 

not impossible it's just will not happened in the near future or soon , i guess this is very possible but the chance itself so low for now , in the next 5 10 20 50 years? i believe bitcoi will change how real money works.

[carriebee]

I dont think banks will disappear over bitcoin. Banks will change its
service but not to disappear. Bitcoin is not yet well known in my
country. There is a need of proper introducing bitcoin so that all
people here in my country would easily understand its process.
Lastly, banks will not be diasppear in the long run.

[Meycell]

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 am not sure that the bank will really be lost even if the possibility is there but it's difficult because people still need tools to real money

[krishna1]

no dought that bitcoin has the potentiality but now i have re thinking my words and i observed that people at this generation cared only the existence and bitcoin is lot more powerful than jist exestence so i now 99% belive that yes it can make banks disapper and yes the news also agreed

[Doamader]

no dought that bitcoin has the potentiality but now i have re thinking my words and i observed that people at this generation cared only the existence and bitcoin is lot more powerful than jist exestence so i now 99% belive that yes it can make banks disapper and yes the news also agreed

Bitcoin has potencial but to remove banks no, banks does have country support and the big population does trust them, and just them, bitcoin can make some companies loose costumers, but it wont make them close the doors, bitcoin must improve a lot before be able to replace anything, we thinked Western Union would close doors, since bitcoin does provide the same service much more cheaper.

[wxa7115]

no dought that bitcoin has the potentiality but now i have re thinking my words and i observed that people at this generation cared only the existence and bitcoin is lot more powerful than jist exestence so i now 99% belive that yes it can make banks disapper and yes the news also agreed

Bitcoin has potencial but to remove banks no, banks does have country support and the big population does trust them, and just them, bitcoin can make some companies loose costumers, but it wont make them close the doors, bitcoin must improve a lot before be able to replace anything, we thinked Western Union would close doors, since bitcoin does provide the same service much more cheaper.

Well, even though bitcoin offers the same service there are many things to consider, for example if you want to buy bitcoin most of the time you will need to pay a premium, a little bit more than market value, second in order to recover those bitcoin to fiat you are going to pay another fee, then you need to consider the limitations of the people themselves, they may not have reliable access to the internet and stuff, to me for those reasons it is why western union keeps on business.

[brian_23452]

no dought that bitcoin has the potentiality but now i have re thinking my words and i observed that people at this generation cared only the existence and bitcoin is lot more powerful than jist exestence so i now 99% belive that yes it can make banks disapper and yes the news also agreed

Bitcoin has potencial but to remove banks no, banks does have country support and the big population does trust them, and just them, bitcoin can make some companies loose costumers, but it wont make them close the doors, bitcoin must improve a lot before be able to replace anything, we thinked Western Union would close doors, since bitcoin does provide the same service much more cheaper.

Well, even though bitcoin offers the same service there are many things to consider, for example if you want to buy bitcoin most of the time you will need to pay a premium, a little bit more than market value, second in order to recover those bitcoin to fiat you are going to pay another fee, then you need to consider the limitations of the people themselves, they may not have reliable access to the internet and stuff, to me for those reasons it is why western union keeps on business.

WU is more popular only because it exists since long time and not many people are aware about bitcoins yet and once they are aware I am sure they won't use WU for money transfers as they charge heavy fees from its customers but still bitcoin doesn't have that high potential to replace WU or banks.

[Capradina]

no dought that bitcoin has the potentiality but now i have re thinking my words and i observed that people at this generation cared only the existence and bitcoin is lot more powerful than jist exestence so i now 99% belive that yes it can make banks disapper and yes the news also agreed

Bitcoin has potencial but to remove banks no, banks does have country support and the big population does trust them, and just them, bitcoin can make some companies loose costumers, but it wont make them close the doors, bitcoin must improve a lot before be able to replace anything, we thinked Western Union would close doors, since bitcoin does provide the same service much more cheaper.

Well, even though bitcoin offers the same service there are many things to consider, for example if you want to buy bitcoin most of the time you will need to pay a premium, a little bit more than market value, second in order to recover those bitcoin to fiat you are going to pay another fee, then you need to consider the limitations of the people themselves, they may not have reliable access to the internet and stuff, to me for those reasons it is why western union keeps on business.

WU is more popular only because it exists since long time and not many people are aware about bitcoins yet and once they are aware I am sure they won't use WU for money transfers as they charge heavy fees from its customers but still bitcoin doesn't have that high potential to replace WU or banks.

A very smart thinking. It is indeed something is absolutely true, as more lucrative than bitcoin WU. So, can verify that indeed bitcoin will be more used by all than WU. Because of the speed and accuracy of WU and extremely similar, that bitcoin sets it apart is bitcoin is much cheaper and more fun than WU. So, I am extremely confident it can give you an advantage that it is very good for bitcoin

[Wolf_Pack]

no dought that bitcoin has the potentiality but now i have re thinking my words and i observed that people at this generation cared only the existence and bitcoin is lot more powerful than jist exestence so i now 99% belive that yes it can make banks disapper and yes the news also agreed

Bitcoin has potencial but to remove banks no, banks does have country support and the big population does trust them, and just them, bitcoin can make some companies loose costumers, but it wont make them close the doors, bitcoin must improve a lot before be able to replace anything, we thinked Western Union would close doors, since bitcoin does provide the same service much more cheaper.

Well, even though bitcoin offers the same service there are many things to consider, for example if you want to buy bitcoin most of the time you will need to pay a premium, a little bit more than market value, second in order to recover those bitcoin to fiat you are going to pay another fee, then you need to consider the limitations of the people themselves, they may not have reliable access to the internet and stuff, to me for those reasons it is why western union keeps on business.

WU is more popular only because it exists since long time and not many people are aware about bitcoins yet and once they are aware I am sure they won't use WU for money transfers as they charge heavy fees from its customers but still bitcoin doesn't have that high potential to replace WU or banks.

A very smart thinking. It is indeed something is absolutely true, as more lucrative than bitcoin WU. So, can verify that indeed bitcoin will be more used by all than WU. Because of the speed and accuracy of WU and extremely similar, that bitcoin sets it apart is bitcoin is much cheaper and more fun than WU. So, I am extremely confident it can give you an advantage that it is very good for bitcoin

WU is spread in all over the world and you will find its branches even in a small town as that is the only option for people to send or receive money instantly as remittances through banks are time consuming and generally takes 24 hours so people prefer to use WU.

[delliaerd]

I dont think banks will disappear over bitcoin. Banks will change its
service but not to disappear. Bitcoin is not yet well known in my
country. There is a need of proper introducing bitcoin so that all
people here in my country would easily understand its process.
Lastly, banks will not be diasppear in the long run.

Of course it won't because banks are playing an important role for a government and they are one of the industries that are contributing big tax in for a country. It can be possible that the banks are going to make bitcoins disappear as they are covered by the government but bitcoin isn't. And you are right, they can just simply adopt bitcoins services rather than making it disappear.

Yes I am agree with you. bank And goverment are made cooperation in since very very long time ago. they are support each other. country economy is nothing without bank. and bank is nothing without the support of goverment. bitcoin Is good but it is just a currency, it used for buying or selling activity, but Bank is a big corpiration. May be bank will adipt bitcoun as alternatif currency. We have to keep use and support bitcoin.

[bitourist]

Banks will not disappear I believe, but here in Scandinavia (and probably other places too), banks have been inspired by the way a bitcoin transaction is processed and have launched instapay services and apps that makes bank transfers obsolete. It also omits bank fees on smaller transactions.

A step in the right direction at least!