Can Bitcoin make Banks disappear?

[Altas]

I don't think that bitcoins make the banks disappear. For the economical purposes we need banks and also no country legalize bitcoin as their currency so, bitcoin can't make make the banks disappear. May be in future it can happen. we do not know what will happen tomorrow, anything can happen.     

[1714157022]

1714157022

[1714157022]

1714157022

[1714157022]

1714157022

[1714157022]

1714157022

[1714157022]

1714157022

[dmamigo]

I do not think the bitcoin can let banks disappear now.But the banks may disappear in the future not only because of btc.

Banks cannot disappear, it might be possible that physically banks may go obsolete, but electronically it will  continue to function. Bitcoin is great but some features are missing which general people will like to have. And also the trust factor towards a bank is too high.

[Fatanut]

I do not think the bitcoin can let banks disappear now.But the banks may disappear in the future not only because of btc.

Banks cannot disappear, it might be possible that physically banks may go obsolete, but electronically it will  continue to function. Bitcoin is great but some features are missing which general people will like to have. And also the trust factor towards a bank is too high.

As long as fiat has a physical form, there would also be physical banks. ATMs have to be refilled with new cash by the banks. You also need to have a physical bank when you're depositing and opening an account, because otherwise, the bank would have problems. Supposed that they automate opening an account on their bank, there would be people that do not know how to use it and would need guidance. Same goes when depositing money.

There would also be people that would not feel safe when he's going to deposit tons of money in a bank and just be in front of a machine. It would also be tiring to enter all the cash that he needs to deposit (for example, $100,000). Banks are also needed so there would be a building where all the cash of that particular bank is stored. Without a building, the security would be much less.

[artows21]

It's impossible that banks disappears because we will always need banks. Not everyone will use bitcoins I think so that's not possible. But banks can probably use bitcoins as a new money or they can maybe create banks of bitcoins

[gandame]

Bitcoin will not make banks disappear because fiat is very popular and many businesses trusted banks, and actually bitcoin is very significant to banks in exchaging btc to fiat cash through cash out from wallets online. Digital currency has many advantages but we should set aside banks own purpose why it existed and people really trusted banks for their wealth security for their money.

[Japinat]

Bitcoin will not make banks disappear because fiat is very popular and many businesses trusted banks, and actually bitcoin is very significant to banks in exchaging btc to fiat cash through cash out from wallets online. Digital currency has many advantages but we should set aside banks own purpose why it existed and people really trusted banks for their wealth security for their money.

Banks would not exist if without the support of the government, in fact we have the central bank which is manage by the government in order to monitor the compliance of all banks may it public or private banks. Bitcoin is not controlled by the government, so there is no chance for it to take over the banking industry, this is a very good technology but without the government pushing it's support it would not succeed.

[jossiel]

It's impossible that banks disappears because we will always need banks. Not everyone will use bitcoins I think so that's not possible. But banks can probably use bitcoins as a new money or they can maybe create banks of bitcoins

Banks are already in the economy for a lot of centuries and I don't even think that it can be gone and eliminate easily by bitcoin.

Each country  is still depending its economy with their banks that are the ones who are responsible with their money matters.

And a country without central BANK or any bank will be in debt if bitcoin will replace their function.

[hollandvan]

Your question is a bit weird, why they can co-exist? Why bitcoin will make bank disappear? Banks using blockchain technology doesn't mean they will be disappeared.

[virasisog]

Bitcoin will not make banks disappear because fiat is very popular and many businesses trusted banks, and actually bitcoin is very significant to banks in exchaging btc to fiat cash through cash out from wallets online. Digital currency has many advantages but we should set aside banks own purpose why it existed and people really trusted banks for their wealth security for their money.

I agree, it will not be replace but when the bitcoin becomes popularly known to people the use of banks will be no longer good ,they will going to improve something..i am thinking about researching blockchain to improve their services towards advance technology eith digital currency.

[Finestream]

Bitcoin will not make banks disappear because fiat is very popular and many businesses trusted banks, and actually bitcoin is very significant to banks in exchaging btc to fiat cash through cash out from wallets online. Digital currency has many advantages but we should set aside banks own purpose why it existed and people really trusted banks for their wealth security for their money.

I agree, it will not be replace but when the bitcoin becomes popularly known to people the use of banks will be no longer good ,they will going to improve something..i am thinking about researching blockchain to improve their services towards advance technology eith digital currency.

We are still gonna use banks, maybe when that time will come, there will be a good partnership with banks and bitcoin or clear to say, exchanges and banks. I'm seeing also there would be more businesses that will adopt with bitcoin and transaction would be more faster, but the bottom line is we cannot afford to live in this world without bank that produces fiat.

[zidanw]

I think not and also how bitcoin bank can make disappear, while bitcoin is not accepted as legal payment or legal currency in some countries and I think fiat still dominate for now

[diegz]

I think not and also how bitcoin bank can make disappear, while bitcoin is not accepted as legal payment or legal currency in some countries and I think fiat still dominate for now

Saying that we like bitcoin bank means bank will still exist even when bitcoin will prevail over time. I think legality will come next, bitcoin being adopted by many might make some countries start to make a guidelines in using bitcoin. But of course, I do not see countries giving up their fiat as it is under their control and bitcoin is not.

[Capradina]

At current situation it can not make any bank disappear but after many years it may not be predicted. It may also make banks disappear by using digital money not physical one....

It would never happen.!!! The central bank is, as of any Government. Without a bank then every country will be screwed to take care of any existing financial in it, so until whenever the bank will remain standing and bitcoin may never replace him. Because I think the Bank is permanent in every country, it is better meikirkan how to get a lot of advantages in the bitcoin instead of having to think of something that only generates a prediction

[Mr.grin]

I think not and also how bitcoin bank can make disappear, while bitcoin is not accepted as legal payment or legal currency in some countries and I think fiat still dominate for now

Saying that we like bitcoin bank means bank will still exist even when bitcoin will prevail over time. I think legality will come next, bitcoin being adopted by many might make some countries start to make a guidelines in using bitcoin. But of course, I do not see countries giving up their fiat as it is under their control and bitcoin is not.

I guess that proves that this time, the effect of a given bank, is bigger than the impact that the bitcoin. indeed, the price of bitcoin is much greater than fiat, but, basically most people prefer looking fiat, and save it in the bank, compared seek bitcoin, and put them in the wallet reliable.

[bitart]

In my country, Central Bank has decided that Banks should complete a money transfer in a maximum of 5 seconds, deadline to develop the neccessary system is  July 2019.
This means that banks have to implement a common solution for this, because all of the banks have to fulfill this. As this would be a common development, it won't cause any advantage for a particular bank but will be a huge advantage for all of the people in the country.
The system must be a kind of blockchain based thing, and should be a closed system, having only the banks in the system. This can help to clear the transactions in a really short time and helps the system to be reliable and 100% secure. Looking forward to hear more about the solution.

[rizkyhiw]

At current situation it can not make any bank disappear but after many years it may not be predicted. It may also make banks disappear by using digital money not physical one....

It would never happen.!!! The central bank is, as of any Government. Without a bank then every country will be screwed to take care of any existing financial in it, so until whenever the bank will remain standing and bitcoin may never replace him. Because I think the Bank is permanent in every country, it is better meikirkan how to get a lot of advantages in the bitcoin instead of having to think of something that only generates a prediction

Never say never , even though it sounds like impossible
Things can changed faster as time goes by especially when you are talking about technology like bitcoin
I put my faith in bitcoin also a little bit doubt about this kind thought
The way bank works could changed when people realized how benefical bitcoin it is.

[Adelajda]

It is not possible to think that bitcoin could make banks disappear in this state.It could dent the market share of western union or money gram as people might use bitcoin to start sending money abroad because of the low transaction fees and stuffs of bitcoin .

[Doamader]

If bitcoin keeps the way it is going with the recent attacks at bitcoin, and making the huge delay or forcing people to raise the fees to get their transaction confirmed, im pretty sure it will lead to the end of bitcoin, and banks wont need to push or make any kind of pression to those happens. Even knowing banks services and transactions in the general are fast they have some limitations, and its that wich makes bitcoin an atractive option, but altcoins will get more atractive and are already due to delay of confirmation and fees.

[cramcram21]

Bitcoin cannot make the banks to disappear,
But I think if bitcoin become much more popular in the future the banks should do something,
Maybe adopt this crypto currency or support it in any way that they can.

[BitHodler]

It is not possible to think that bitcoin could make banks disappear in this state.It could dent the market share of western union or money gram as people might use bitcoin to start sending money abroad because of the low transaction fees and stuffs of bitcoin .

Actually, I think that Bitcoin can be a great help for services such as western union if they happen to incorporate Bitcoin alongside their fiat related business structure.

It would be an amazing option if you sell your coins to western union, and a person somewhere in the world can pick up the money that the sold coins were worth.

And when you deposit fiat, you can have someone anywhere in the world receive Bitcoins directly after that.

If they charge fair fees, then I am sure that it will be greatly beneficial for western union and people using their service. It's a win win situation.