Can Bitcoin make Banks disappear?

[seven4smoke]

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.

I wonder who is going to train people to use bitcoin wallets, if we do not all grandmothers and girls can understand even with the banking pension cards. This is a very long process.

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[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.

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.

This is going against what we are seeing, what we see is bitcoin adapting itself around the current economic system dominated by the banks, this is nothing new, for example in Linux you can see the file system of windows without any problem, but that does not happen the other way, Why? Because Microsoft does not want to offer compatibility to Linux so they keep their monopoly for a little bit longer.

[akashborikar]

Banks would not disappear. Maybe the way banking works might become different, but even that is a remote possibility.

What you need to remember is that banking is big business. If bitcoin were to cause the banking industry problems, the banks would fight against bitcoin. And they would wage that war through government; By using legislation to keep bitcoin from causing problems to their industry. And government would happily play along.

[X7]

Unlikely that Bitcoin will make banks disappear, because of the vast amounts of wealth some of these banks have at their disposal. They will simply buy the larger bitcoin companies and gain relative market share.

The smart banks will pivot and see how they may utilize the technology to better their systems, the stubborn banks will disappear perhaps. But not all of them, not by a long shot.

[noictib]

Unlikely that Bitcoin will make banks disappear, because of the vast amounts of wealth some of these banks have at their disposal. They will simply buy the larger bitcoin companies and gain relative market share.

The smart banks will pivot and see how they may utilize the technology to better their systems, the stubborn banks will disappear perhaps. But not all of them, not by a long shot.

you are right , But still people's habbits will never make Bank disappear because people usually getted into bitcoin for fiat ( bank Money ) .
then how can we say that bitcoin will make bank disappear .

[Babayega31]

Unlikely that Bitcoin will make banks disappear, because of the vast amounts of wealth some of these banks have at their disposal. They will simply buy the larger bitcoin companies and gain relative market share.

The smart banks will pivot and see how they may utilize the technology to better their systems, the stubborn banks will disappear perhaps. But not all of them, not by a long shot.

Nope, banks won't be disappear because of bitcoin but surely some banks will disappear due to bankruptcy. More banks were failing on their system because unlike bitcoin no investors that will gain more profits on their savings. You cannot do tradings in the bank and yet you have low interest of your savings, bitcoin will not make bank disapperar because banks is its mediator in currency exchange how would could you cash out your btc if you don't have your bank? So you need the bank actually.

[mirakal]

Unlikely that Bitcoin will make banks disappear, because of the vast amounts of wealth some of these banks have at their disposal. They will simply buy the larger bitcoin companies and gain relative market share.

The smart banks will pivot and see how they may utilize the technology to better their systems, the stubborn banks will disappear perhaps. But not all of them, not by a long shot.

you are right , But still people's habbits will never make Bank disappear because people usually getted into bitcoin for fiat ( bank Money ) .
then how can we say that bitcoin will make bank disappear .

It will only happen in our dreams, it will never make banks disappear, we are just a small community and we cannot make the government disappear. It's the government that established bank so it's really impossible to happen.

[1Referee]

Banks would not disappear. Maybe the way banking works might become different, but even that is a remote possibility.

It's already changing. If I compare the banking experience right now, with how it was years ago, then it has been changing a lot (for the positive). For the first time in years the customers are being the central point of attention, and not the banks with their greedy intentions. It has either be an effect of them feeling pressure of alternative payment forms such as Bitcoin, or because people were taking distance from banks more and more. Something has sparked this effect.

What you need to remember is that banking is big business. If bitcoin were to cause the banking industry problems, the banks would fight against bitcoin. And they would wage that war through government; By using legislation to keep bitcoin from causing problems to their industry. And government would happily play along.

If Bitcoin forms a threat at the time it grows too large, the government won't let it come anywhere near the edge that it is harming their economy and banking system. Every action will be taken to push back Bitcoin. That's why I am perfectly fine with how Bitcoin is right now. I don't even want it to form a threat to the current system. I prefer to have everything stay as is the case right now. People are happy, so why do we want it to replace all kinds of institutions and currencies? There is no need for that when Bitcoin can work alongside all that without any problems.

[Polisi Ndeso]

Unlikely that Bitcoin will make banks disappear, because of the vast amounts of wealth some of these banks have at their disposal. They will simply buy the larger bitcoin companies and gain relative market share.

The smart banks will pivot and see how they may utilize the technology to better their systems, the stubborn banks will disappear perhaps. But not all of them, not by a long shot.

you are right , But still people's habbits will never make Bank disappear because people usually getted into bitcoin for fiat ( bank Money ) .
then how can we say that bitcoin will make bank disappear .

The mark of the bank will disappear is very near, in developed countries the more functions the bank replaced by a third-party financial agencies. The Central Bank is never going to disappear, but private banks slowly will soon disappear. Presence of bitcoin make bank disappear faster than normal time.

[mikecgna]

Unlikely that Bitcoin will make banks disappear, because of the vast amounts of wealth some of these banks have at their disposal. They will simply buy the larger bitcoin companies and gain relative market share.

The smart banks will pivot and see how they may utilize the technology to better their systems, the stubborn banks will disappear perhaps. But not all of them, not by a long shot.

you are right , But still people's habbits will never make Bank disappear because people usually getted into bitcoin for fiat ( bank Money ) .
then how can we say that bitcoin will make bank disappear .

The mark of the bank will disappear is very near, in developed countries the more functions the bank replaced by a third-party financial agencies. The Central Bank is never going to disappear, but private banks slowly will soon disappear. Presence of bitcoin make bank disappear faster than normal time.

The banking system and those who are led by it, very much understand the emerging market cryptocurrency, so given the competition take note of the new technologies, including blockchain.

[hawkins]

The current bank is something greater than the bitcoin, and the bank has been recognized worldwide, even everyone knows about the bank. however, not everyone knows what it is bitcoin, and not everyone can use bitcoin for now, because there are many people who are blind to the technology. Well, if bitcoin really growing, it may only be a rival bank

[choppork]

The current bank is something greater than the bitcoin, and the bank has been recognized worldwide, even everyone knows about the bank. however, not everyone knows what it is bitcoin, and not everyone can use bitcoin for now, because there are many people who are blind to the technology. Well, if bitcoin really growing, it may only be a rival bank

That's the situation right now but we're approaching a digital world. The kids are starting to be so computer literate nowadays that they starting to overcome the computer skills of other adults. And when it comes to the popularity of bitcoins, it's only a matter of time when it becomes popular. Since people are all looking in their phone screens all day, they will eventually search for ways to earn money online and bitcoin would be one of the most popular search results.

[mafgwaf@gmail.com]

The current bank is something greater than the bitcoin, and the bank has been recognized worldwide, even everyone knows about the bank. however, not everyone knows what it is bitcoin, and not everyone can use bitcoin for now, because there are many people who are blind to the technology. Well, if bitcoin really growing, it may only be a rival bank

That's the situation right now but we're approaching a digital world. The kids are starting to be so computer literate nowadays that they starting to overcome the computer skills of other adults. And when it comes to the popularity of bitcoins, it's only a matter of time when it becomes popular. Since people are all looking in their phone screens all day, they will eventually search for ways to earn money online and bitcoin would be one of the most popular search results.

Yeah thats right. Kids will be curius about bitcoin and they will checking it on how it will work. Specially kids now a days is game addicts and steam is the #1 gaming client . Steam is accepting bitcoin as the payment on the game credits. They might check it

[aso118]

The current bank is something greater than the bitcoin, and the bank has been recognized worldwide, even everyone knows about the bank. however, not everyone knows what it is bitcoin, and not everyone can use bitcoin for now, because there are many people who are blind to the technology. Well, if bitcoin really growing, it may only be a rival bank

That's the situation right now but we're approaching a digital world. The kids are starting to be so computer literate nowadays that they starting to overcome the computer skills of other adults. And when it comes to the popularity of bitcoins, it's only a matter of time when it becomes popular. Since people are all looking in their phone screens all day, they will eventually search for ways to earn money online and bitcoin would be one of the most popular search results.

Earning money is not the make-all and end-all of this world. There are people in this world, who are not interested in the satoshis offered online. So thinking that this would be the reason for Bitcoin's success and the failure of banks is fool hardy.

[ipanks]

Unlikely that Bitcoin will make banks disappear, because of the vast amounts of wealth some of these banks have at their disposal. They will simply buy the larger bitcoin companies and gain relative market share.

The smart banks will pivot and see how they may utilize the technology to better their systems, the stubborn banks will disappear perhaps. But not all of them, not by a long shot.

you are right , But still people's habbits will never make Bank disappear because people usually getted into bitcoin for fiat ( bank Money ) .
then how can we say that bitcoin will make bank disappear .

maybe the bank will not disappear but the bank will be make integrate and syncronize with blockchain technology because blockchain technology itself actually is a new technology which can help the bank to serve their member to better than before. beside that, as long as people still using fiat for daily life, then the bank will not disappear.

[wxa7115]

Banks would not disappear. Maybe the way banking works might become different, but even that is a remote possibility.

What you need to remember is that banking is big business. If bitcoin were to cause the banking industry problems, the banks would fight against bitcoin. And they would wage that war through government; By using legislation to keep bitcoin from causing problems to their industry. And government would happily play along.

Banks will not disappear but they are going to change, right now banks are researching and creating their very own blockchains, they love blockchain technology but hate bitcoin being on top of it.

[iqlimasyadiqa]

Banks would not disappear. Maybe the way banking works might become different, but even that is a remote possibility.

What you need to remember is that banking is big business. If bitcoin were to cause the banking industry problems, the banks would fight against bitcoin. And they would wage that war through government; By using legislation to keep bitcoin from causing problems to their industry. And government would happily play along.

Banks will not disappear but they are going to change, right now banks are researching and creating their very own blockchains, they love blockchain technology but hate bitcoin being on top of it.

I agree with you . could someday BANK will use the technology bitcoin in their financial system. to see these advantages, the BANK may attract more number of users more.

[Selly Arumsari]

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

yes i agree for your opinion , i am believe that bank always used .. because bitcoin  not yet function like bank

[richardsNY]

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

yes i agree for your opinion , i am believe that bank always used .. because bitcoin  not yet function like bank

Why would you want Bitcoin to function as a regular bank? More important, what is Bitcoin according to you missing since you want it to be like a bank? You can send and receive money 24/7 instantly without the need of a middle man, you own everything in full, it's a great tool to avoid interferene from banks and governments. Only benefits. That's why I don't understand what you are missing. Or probably.... You are not getting any interest on your coins as it is, is that what you are looking for?

[Doamader]

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

yes i agree for your opinion , i am believe that bank always used .. because bitcoin  not yet function like bank

Why would you want Bitcoin to function as a regular bank? More important, what is Bitcoin according to you missing since you want it to be like a bank? You can send and receive money 24/7 instantly without the need of a middle man, you own everything in full, it's a great tool to avoid interferene from banks and governments. Only benefits. That's why I don't understand what you are missing. Or probably.... You are not getting any interest on your coins as it is, is that what you are looking for?

I do believe he is saying about some services that banks does provide, which we cant get with bitcoin, like long term loans, bitcoin cant do it, if we do those we know we are likely donating our coins. Besides those service, there are few to invest, that may bring good results, bitcoin for other side has huge potencial and someday may achieve the top position as investment as bank safety, i do use bitcoin as my banks for investements.