Can Bitcoin make Banks disappear?

[HankTheTank]

No I do not think that this can happen if I have to be honest, banks are too powerful and can even maybe let the bitcoin disappear.

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[Attaman]

No I do not think that this can happen if I have to be honest, banks are too powerful and can even maybe let the bitcoin disappear.

I also have my doubts about that, banks are having more power and are mostly even controlled partly by the government.

[millgates]

No I do not think that this can happen if I have to be honest, banks are too powerful and can even maybe let the bitcoin disappear.

I also have my doubts about that, banks are having more power and are mostly even controlled partly by the government.

Bank will get seriouse problem if they not cooperate with bitcoin, bank will lose so many income from Fintech industry. Probably it is really hard for bitcoin to make bank dissapear, but I think step by step bank usage will be reduced.

[ZrCoin]

It will take a lot of time when all people of the world will start using bitcoin instead of fiat currency and then they will use wallets instead of banks accounts. For now banks and cryptocurrencies ll share functions and somehow devide market. It's what we can see and it's what hapenning right now.

[Gembul]

I quite agree with you, because the bank is not a currency. Bank just a suggestion where to save your money with various benefits offered. Same with my opinion, bitcoin might not be able to shift or even abolish the bank. As long as banks still get benefit from fiat and government not prohibit the existence of the bank, the bank will still be there. And bitcoin be an alternative place your investment. Thank you

Bitcoin without banks = bitcoin with no investments.  you have bitcoin but what can you do with it.  ok, you can spend it.  addresses don't grow in value by themselves.  If you want to grow yr amount of bitcoin then you will need some sort financial institution to do that for you.  unless its a casino, it will essentially be a bank.

I think bitcoin without banks will be fine, for example, now. I myself, can make investments with bitcoin without banks, because only by storing your bitcoin in bitcoin wallet and if prices go up then you can get benefit. Although the number of your bitcoin has not increased, but the exchange rate against the fiat will increase. So bitcoin without banks,definitely  will be fine. Thank you

[Finestream]

I quite agree with you, because the bank is not a currency. Bank just a suggestion where to save your money with various benefits offered. Same with my opinion, bitcoin might not be able to shift or even abolish the bank. As long as banks still get benefit from fiat and government not prohibit the existence of the bank, the bank will still be there. And bitcoin be an alternative place your investment. Thank you

Bitcoin without banks = bitcoin with no investments.  you have bitcoin but what can you do with it.  ok, you can spend it.  addresses don't grow in value by themselves.  If you want to grow yr amount of bitcoin then you will need some sort financial institution to do that for you.  unless its a casino, it will essentially be a bank.

I think bitcoin without banks will be fine, for example, now. I myself, can make investments with bitcoin without banks, because only by storing your bitcoin in bitcoin wallet and if prices go up then you can get benefit. Although the number of your bitcoin has not increased, but the exchange rate against the fiat will increase. So bitcoin without banks,definitely  will be fine. Thank you

The problem will come the moment you cash out your bitcoins, how do you enjoy your bitcoin when it's not convertible to cash?

Although we are investing and earning from bitcoin, it is still important to accept what is real that banks is all we need to enjoy what we have. Like in my case, I have open an account in our local exchange site and I cash out directly my income in the bank thru ATM.

[Fatanut]

The problem will come the moment you cash out your bitcoins, how do you enjoy your bitcoin when it's not convertible to cash?

You can. That's the point. This isn't a problem, atleast now. Let's just assume that you can't convert your coins to cash using a bank account. Then it's okay. Just look for a buyer of bitcoins and you can gain profits by doing so since you can add some "transaction fee" or something. You can also look for people that wants to buy some thing online but can't because he doesn't have bitcoins. Buy the item for them and then they'd pay you in fiat. Simple as that.

Although we are investing and earning from bitcoin, it is still important to accept what is real that banks is all we need to enjoy what we have. Like in my case, I have open an account in our local exchange site and I cash out directly my income in the bank thru ATM.

Like what I said, there are other ways to cash out besides cashing out thru ATM.

[Gembul]

I think bitcoin without banks will be fine, for example, now. I myself, can make investments with bitcoin without banks, because only by storing your bitcoin in bitcoin wallet and if prices go up then you can get benefit. Although the number of your bitcoin has not increased, but the exchange rate against the fiat will increase. So bitcoin without banks,definitely  will be fine. Thank you

The problem will come the moment you cash out your bitcoins, how do you enjoy your bitcoin when it's not convertible to cash?

Although we are investing and earning from bitcoin, it is still important to accept what is real that banks is all we need to enjoy what we have. Like in my case, I have open an account in our local exchange site and I cash out directly my income in the bank thru ATM.

That's right, the right way to enjoy bitcoin is simply exchanged for fiat. So we need a bank, but we do not redeem bitcoin directly to the bank, right?

We need a third party who had money in the bank, and he wants to buy our bitcoin. In other words, you send your bitcoin to the person and the person sends money from his bank account to your bank account. I think this also applies to the exchanger you are looking for. because I think now there has been no official banks that accept bitcoin. Thank you

[marcuslong]

Yet people will be on depend on bank , banks are in the long run where people using it to keep their money safe from spending it nor there are saving it from there work their salary per month if bitcoin will banks disappear it depends on bank and the goverment it self. If goverment says to bank to closed they will be closed but if bitcoin will make bank disappear it wont be happen

[iqlimasyadiqa]

It will take a lot of time when all people of the world will start using bitcoin instead of fiat currency and then they will use wallets instead of banks accounts. For now banks and cryptocurrencies ll share functions and somehow devide market. It's what we can see and it's what hapenning right now.

I prefer to use them both. because each has its advantages and disadvantages. we can take advantage of all the features which the reliability of bitcoin and real money. there are portion of each that must be shared.

[Mystic Saiyan]

Banks will not disappear, they will just change with time (if it comes) and integrate the blockchain tech in their system. People will still need loans and banks are the only way to provide them. Likewise fiat currency will also not disappear just degrade in value.

[animax]

i feel sick when i read the word "bank"

[lol3c]

It will take a lot of time when all people of the world will start using bitcoin instead of fiat currency and then they will use wallets instead of banks accounts. For now banks and cryptocurrencies ll share functions and somehow devide market. It's what we can see and it's what hapenning right now.

I prefer to use them both. because each has its advantages and disadvantages. we can take advantage of all the features which the reliability of bitcoin and real money. there are portion of each that must be shared.

I also think that using both kinds of currencies will give the best result, as each currency has its own benefits and limits and we should take advantage of ways. And the world is not ready for such a huge change in the economic world as people still enjoy the pleasure of using fiat money rather than bitcoin, it's a hard task to use only bitcoin.

[BitHodler]

i feel sick when i read the word "bank"

In the way that you're tired of these type of threads or that you don't like banks in general?

If the first case, then yes, it some times is quite annoying to see that some people think that it's possible for Bitcoin to replace banks in current form.

Whether we like it or not, we are tied to banks as there is no better way (aside from Bitcoin, Gold, etc) to store your fiat savings.

That being said, I personally don't have any problems when making use of my bank account. It does exactly that what I want it to do. And all that for a montly fee of €1.

[bitkilo]

Banks will not disappear, they will just change with time (if it comes) and integrate the blockchain tech in their system. People will still need loans and banks are the only way to provide them. Likewise fiat currency will also not disappear just degrade in value.

Governments will soon come around and figure out that the only way to combat the digital currency era is to join it so they can still impose their ways on their citizens.
Instead of the fed "printing" money like we used to say the new saying for them will soon become something like "premined"

[LovelyPrey]

A good way to think about it right now is that bitcoin is like throwing a 20 pound weight off the side of an ocean liner (a large ship) under full cruise.  Bitcoin is a very small drag on the banking system.  VERY SMALL.  Banks are based on leveraging debt, there will always be plenty of people (and plenty of companies, and plenty of countries) willing to take on debt for both good and bad reasons.
In this world order banks disappear impossible. Banks can change system for bitcoin or something else. Banks determine the world order. Behind the banks there are rich family like Rothschild, Rockefeller. They wont let banks disappear because their power comes from the banks...That is what I know.

[tabas]

Banks will not disappear, they will just change with time (if it comes) and integrate the blockchain tech in their system. People will still need loans and banks are the only way to provide them. Likewise fiat currency will also not disappear just degrade in value.

They will still remain because the government needs their service and I don't think government will simply rely to the whole blockchain technology and it is a risk for them if they will let the banks disappear and let bitcoin to take cover for its job. They can adopt bitcoin but don't think that it can make them disappear easily, they are just like gold that has been there for centuries.

[ethereumhunter]

Banks will not disappear, they will just change with time (if it comes) and integrate the blockchain tech in their system. People will still need loans and banks are the only way to provide them. Likewise fiat currency will also not disappear just degrade in value.

They will still remain because the government needs their service and I don't think government will simply rely to the whole blockchain technology and it is a risk for them if they will let the banks disappear and let bitcoin to take cover for its job. They can adopt bitcoin but don't think that it can make them disappear easily, they are just like gold that has been there for centuries.

as long as many people still believe with the banks, i think government will not erase the bank itself and bitcoin will work together with the banks. but for make banks disappear, i think its not possible because people still trust and still using the banks for many things like for payments, saving, or make investment with the banks.

[Md Saad]

I don't think so. Because if any earn bitcoin then that person have to keep that. to keep any valuable think bank is perfect. Not only that bank also can invest those for the betterment of a country....

[MFahad]

A good way to think about it right now is that bitcoin is like throwing a 20 pound weight off the side of an ocean liner (a large ship) under full cruise.  Bitcoin is a very small drag on the banking system.  VERY SMALL.  Banks are based on leveraging debt, there will always be plenty of people (and plenty of companies, and plenty of countries) willing to take on debt for both good and bad reasons.
In this world order banks disappear impossible. Banks can change system for bitcoin or something else. Banks determine the world order. Behind the banks there are rich family like Rothschild, Rockefeller. They wont let banks disappear because their power comes from the banks...That is what I know.

I don’t think so, but there is a big hope for Bitcoin, online and networked payment systems eliminating banks is like inevitable in the future. Sooner or later, it is gonna happen. And If something does cause this, then it might as well be bitcoin.