Can Bitcoin make Banks disappear?

[mrkevio]

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 ot can if bitcoin spreads over more areas in the world. I thu k more hitech CPU tries will use ot more since it is new and the future of finances.

It can't because Bitcoin cannot borrow you money and cannot offer the same, so-called "services" the Banks can. People will continue falling for the lies and some of them really need to borrow money for business or who knows what else. Anyways, Bitcoin will never get the necessary popularity to make them disappear because the authorities cannot let this happen... It would be too much freedom for all, wouldn't it?

[one-day0]

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 ot can if bitcoin spreads over more areas in the world. I thu k more hitech CPU tries will use ot more since it is new and the future of finances.

It can't because Bitcoin cannot borrow you money and cannot offer the same, so-called "services" the Banks can. People will continue falling for the lies and some of them really need to borrow money for business or who knows what else. Anyways, Bitcoin will never get the necessary popularity to make them disappear because the authorities cannot let this happen... It would be too much freedom for all, wouldn't it?

It is quite likely. Although I must completely agree with your opinion. All what a user can expect bitcoin, it is easy to operate and even to pay the tax in the near future. Anonymity income is contrary to the laws of many countries and that they are correct.

[rizkyhiw]

I don't think bitcoin can make banks disappear.  The reason is that banks are already established and supported by the government while bitcoin is not supporter by the government and there are only a few percentage of the population supporting it.  It may change how bank deal with people but bitcoin will never make banks disappear.

Banks could disappeared as time goes by if people feel not satisfied
As technology keep growing and colaborated with financial services I think this gonna be perfect reason to leave banking system
Move to blockchain financial system where you can rule your own bank
I just not sure when exactly this situation happened.

[d@nte]

Even bitcoin having a revolutionary technology, I do not think this would make the banks disappear. Many people still depend on banks, and these banks are institutions with a lot of financial resources, they could find ways to adapt.
It's common to hear news from banks working on projects related to blockchain technologies, for example.

[Yakamoto]

Even bitcoin having a revolutionary technology, I do not think this would make the banks disappear. Many people still depend on banks, and these banks are institutions with a lot of financial resources, they could find ways to adapt.
It's common to hear news from banks working on projects related to blockchain technologies, for example.

Banks would always find a way to adapt, with or without fiat money being the primary form of their functionality. They would just really, really prefer that Bitcoin doesn't enter the mainstream because if something like that happens, there would be a huge discrepancy with what they would be able to loan out and keep within their vaults, and that proceeds to limit their ability to make money off of FRL.

Blockchain technologies are applicable and useful for them; Bitcoin is not.

[Bitcoin0916]

Future day, I sure that bank will disappear, now the signs was already, in ATM machine we can save our money and all transactions bank can be change and handle with ATM machine. After bitcoin found, of course bank disappear not need waiting for long, maybe 15 years again, it's come true.

[wxa7115]

Bitcoin Can Make Banks disappear? Of course not, because bitcoin is not able to completely change the money and as money there will be no bank will also, unless, you are more powerful than governments in each country.

 

I like to believe that people are stronger then governments and establishment. Banking system exists for a long time, my opinion is that bitcoin is better and if people of this world see as I do we can change this world together.
When people are united anything can happen, I know here we talk about far future but changes are inevitable. I strongly believe that bitcoin is capable for this, one day we will see how people quitting from banks and joining bitcoin, that will be great turnover.

I would like to believe that too but the power of banks and governments has grown significantly especially in the last century, while the power of the people mostly remained unchanged until the advent of the Internet.

[Senja Kemuning]

Bitcoin Can Make Banks disappear? Of course not, because bitcoin is not able to completely change the money and as money there will be no bank will also, unless, you are more powerful than governments in each country.

 

I like to believe that people are stronger then governments and establishment. Banking system exists for a long time, my opinion is that bitcoin is better and if people of this world see as I do we can change this world together.
When people are united anything can happen, I know here we talk about far future but changes are inevitable. I strongly believe that bitcoin is capable for this, one day we will see how people quitting from banks and joining bitcoin, that will be great turnover.

I would like to believe that too but the power of banks and governments has grown significantly especially in the last century, while the power of the people mostly remained unchanged until the advent of the Internet.

It is more to the functions and services to the public. If the service at the bank, then the bank will automatically close. I am sure with the bitcoin will change the pattern of bank from manual to full machine and IT system.

[Ziskinberg]

Bitcoin Can Make Banks disappear? Of course not, because bitcoin is not able to completely change the money and as money there will be no bank will also, unless, you are more powerful than governments in each country.

 

I like to believe that people are stronger then governments and establishment. Banking system exists for a long time, my opinion is that bitcoin is better and if people of this world see as I do we can change this world together.
When people are united anything can happen, I know here we talk about far future but changes are inevitable. I strongly believe that bitcoin is capable for this, one day we will see how people quitting from banks and joining bitcoin, that will be great turnover.

I would like to believe that too but the power of banks and governments has grown significantly especially in the last century, while the power of the people mostly remained unchanged until the advent of the Internet.

It is more to the functions and services to the public. If the service at the bank, then the bank will automatically close. I am sure with the bitcoin will change the pattern of bank from manual to full machine and IT system.

it's either we will adopt or the bank will adopt to the respective system, most likely when it's going to be regulated the government will let us adopt to the banking system and we will lose our freedom in using it, the fact that we can transact online without restriction we can do banking and I consider blockchain as our bank.

[traderethereum]

Bitcoin Can Make Banks disappear? Of course not, because bitcoin is not able to completely change the money and as money there will be no bank will also, unless, you are more powerful than governments in each country.

 

I like to believe that people are stronger then governments and establishment. Banking system exists for a long time, my opinion is that bitcoin is better and if people of this world see as I do we can change this world together.
When people are united anything can happen, I know here we talk about far future but changes are inevitable. I strongly believe that bitcoin is capable for this, one day we will see how people quitting from banks and joining bitcoin, that will be great turnover.

I would like to believe that too but the power of banks and governments has grown significantly especially in the last century, while the power of the people mostly remained unchanged until the advent of the Internet.

It is more to the functions and services to the public. If the service at the bank, then the bank will automatically close. I am sure with the bitcoin will change the pattern of bank from manual to full machine and IT system.

it's either we will adopt or the bank will adopt to the respective system, most likely when it's going to be regulated the government will let us adopt to the banking system and we will lose our freedom in using it, the fact that we can transact online without restriction we can do banking and I consider blockchain as our bank.

i think its better to bank to adopt the blockchain technology and maybe bank will make their own technology to be easy to syncronize with blockchain. not bitcoin that can make bank disappear but its because of the member and the customer, if they are not like or don't want to use the bank, slow by slow the bank can disappear. but for bitcoin, i think it will live longer than the bank, and for blockchain, as blockchain is new technology, i am sure that blockchain will grow more in future.

[uname]

Even bitcoin having a revolutionary technology, I do not think this would make the banks disappear. Many people still depend on banks, and these banks are institutions with a lot of financial resources, they could find ways to adapt.
It's common to hear news from banks working on projects related to blockchain technologies, for example.

as long as people continue to use fiat then everyone around the world will depend on the bank, I think the next step should be done bitcoin is more accepted, so users do not need to use bank to convert bitcoin to a fiat

[mirakal]

Even bitcoin having a revolutionary technology, I do not think this would make the banks disappear. Many people still depend on banks, and these banks are institutions with a lot of financial resources, they could find ways to adapt.
It's common to hear news from banks working on projects related to blockchain technologies, for example.

as long as people continue to use fiat then everyone around the world will depend on the bank, I think the next step should be done bitcoin is more accepted, so users do not need to use bank to convert bitcoin to a fiat

We have no choice but to use it as it is only the legal tender that is honored in our country, you cannot buy fish in the market using your bitcoin so even if you have a lot of bitcoin, it will be useless if you will not convert it to fiat. Let's face and accept the reality for now.

[prabowo96]

Even bitcoin having a revolutionary technology, I do not think this would make the banks disappear. Many people still depend on banks, and these banks are institutions with a lot of financial resources, they could find ways to adapt.
It's common to hear news from banks working on projects related to blockchain technologies, for example.

as long as people continue to use fiat then everyone around the world will depend on the bank, I think the next step should be done bitcoin is more accepted, so users do not need to use bank to convert bitcoin to a fiat

We have no choice but to use it as it is only the legal tender that is honored in our country, you cannot buy fish in the market using your bitcoin so even if you have a lot of bitcoin, it will be useless if you will not convert it to fiat. Let's face and accept the reality for now.

Come on guys, there's another similar thread here talking about bitcoin banks and there's a lot of people saying that is a good idea, people always will trust in this wolfs. Sometimes I don't know what to think, they create an system to avoid banks and people don't wanna quit. Well, everyone can make their own chooses.

And bitcoin marketcap is a joke compared to banks

[drwtsn32]

I don't think bitcoin can make banks disappear.  The reason is that banks are already established and supported by the government while bitcoin is not supporter by the government and there are only a few percentage of the population supporting it.  It may change how bank deal with people but bitcoin will never make banks disappear.

Banks could disappeared as time goes by if people feel not satisfied
As technology keep growing and colaborated with financial services I think this gonna be perfect reason to leave banking system
Move to blockchain financial system where you can rule your own bank
I just not sure when exactly this situation happened.

I don't know but I cannot fully agree with this. Because bitcoin cannot replace the World Bank as what bitcoin is right now.
Maybe some other time or let us wait for another 10 years before we can discuss this again. 

[stark101]

Yes there is nothing impossible. Im not very sure of it, if can bitcoin make banks disappear but we dont know. But i think it will take a longer time to make bank disappear. But i think only few of the users or rather to say only few of us knows about bitcoin. If it would happen, what would be the reactions to the people that don't know about bitcoin?

[whizter]

Even bitcoin having a revolutionary technology, I do not think this would make the banks disappear. Many people still depend on banks, and these banks are institutions with a lot of financial resources, they could find ways to adapt.
It's common to hear news from banks working on projects related to blockchain technologies, for example.

yes that is a fact that in near future it may not be possible, as banks are the primary source of money storage, exchange and getting so many other services, for example to pay bill.

[chesatochi]

Even bitcoin having a revolutionary technology, I do not think this would make the banks disappear. Many people still depend on banks, and these banks are institutions with a lot of financial resources, they could find ways to adapt.
It's common to hear news from banks working on projects related to blockchain technologies, for example.

as long as people continue to use fiat then everyone around the world will depend on the bank, I think the next step should be done bitcoin is more accepted, so users do not need to use bank to convert bitcoin to a fiat

We have no choice but to use it as it is only the legal tender that is honored in our country, you cannot buy fish in the market using your bitcoin so even if you have a lot of bitcoin, it will be useless if you will not convert it to fiat. Let's face and accept the reality for now.

Come on guys, there's another similar thread here talking about bitcoin banks and there's a lot of people saying that is a good idea, people always will trust in this wolfs. Sometimes I don't know what to think, they create an system to avoid banks and people don't wanna quit. Well, everyone can make their own chooses.

And bitcoin marketcap is a joke compared to banks

I don't like the banks myself because they are there not to help people, but only make money from your money. I find the idea behind bitcoin a revolution because you have a value under your belt and have control over your money.

Instead the bank charge a fee to have a checking account, charge an interest to borrow for a home, charge a fee to buy shares, in the end is very frustrating... In the meantime I don't have a choice to continue to use the banks, but I am happy to grow my wallet in bitcoins and to use them in the future.

[eduaro66]

Even bitcoin having a revolutionary technology, I do not think this would make the banks disappear. Many people still depend on banks, and these banks are institutions with a lot of financial resources, they could find ways to adapt.
It's common to hear news from banks working on projects related to blockchain technologies, for example.

yes that is a fact that in near future it may not be possible, as banks are the primary source of money storage, exchange and getting so many other services, for example to pay bill.

Banks were and still are there. People always use the services of banks. You can count how many people are customers of banks around the world, and the analogy, how many people use or could use bitcoin. That's the whole question.

[carson45]

bitcoin is only the beginning  

the real deal is blockchain I think. It will affect the intermediation and change the financial system eventually.

[ZlaiaZaia]

bitcoin is only the beginning 

the real deal is blockchain I think. It will affect the intermediation and change the financial system eventually.

The banking system does not renounce its own interests. They are likely to take advantage of blockchain technology and remain at their advantage.