Can Bitcoin make Banks disappear?

[devrawal93]

It is not easy to comment whether banks will disappear or not, since every Nation's major part of their Economy depends on their banking system. And if it has to shut down for any reason, then there has to be strong reason behind it. Something like Big financial crash or debt crisis, and even that will not shut down the banks easily, it will take big time and efforts to do so. But this world is changing at the dramatic speed,and you all can see the example of E-commerce, how it is been Enhanced in past few years and how it is improving day by day. This improving Behaviour in E-commerce sector, has given rise to demand in Bitcoins,E-wallets and E-banking system ( latest example is PAYTM). So i can tell that there may not be any kind of shut down in banks for now,but yes there are high chances of increase in bitcoins activities in this world.

[1715456214]

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[Zooplus]

Banks will not all disappear but bitcoin will impact tremendously on banks transaction volume and deposit size which will obviously reduce banks profit and may lead to loss of job.

Not only that, it will not only banks will be affected but a lot of jobs in this world because with bitcoin life would be easy.
It's expected already a new technology will reduce the need of manpower as it is more accurate and less expensive.

[valentin68]

In my opinion banks will not dissapper, not because of bitcoin. Bitcoin is something that competes the banks, but banks and especially bankers are here to make us money, and they will survive, no matter what. The capitalisation of bitcoin is, I guess less than 0.1% of the total money in the world, so classic money are going to survive, at least for another 20-30 years.  Banks are going to survive for ever, I think.

[mrfreezeh]

My personal thinking said that, bank will not disappear.because of that,everyone don't know about bitcoin but they know about bank very well.in this reason, the users of bank is more than the users of bitcoin. so, bitcoin can't make banks disappear.

Do you remember in history, we use coin gold, silver, bronze before use paper money like now? Ok, if you know that, you also understand in someday Bitcoin can pass FIAT and replace paper money if the growth of Bitcoin cannot stop.

[A.H.Rassel]

I can hardly imagine how Bitcoin can vanish bank in future since banks are the most conventional and put stock in foundation for the customary individuals, all individuals come to the web and utilize digital currency   it's very unthinkable I think, therefore, Bitcoin can't vanish Bank in future

[traderethereum]

My personal thinking said that, bank will not disappear.because of that,everyone don't know about bitcoin but they know about bank very well.in this reason, the users of bank is more than the users of bitcoin. so, bitcoin can't make banks disappear.

Do you remember in history, we use coin gold, silver, bronze before use paper money like now? Ok, if you know that, you also understand in someday Bitcoin can pass FIAT and replace paper money if the growth of Bitcoin cannot stop.

maybe banks will disappear if banks can not make new innovations to compete with bitcoin or maybe banks will integrate with blockchain technology so banks and bitcoin can work together. there are many possibility that will be happen in future as we don't know what will happen in future and i think right now, it is better for us to use our time to prepare ourselves to face the future.

[zoho]

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?

to be practical, if banks are closed how many people will go jobless? and also it is impossible to eradicate the use of paper currency totally. it may take some years to change the world totally digital.

[mroth7684]

Impossible or hard to make bank disappear. we always need a middle before send money to anyone. Bank is invest on blockchain tech. They have many money to kill bitcoin

[8Habits]

My personal thinking said that, bank will not disappear.because of that,everyone don't know about bitcoin but they know about bank very well.in this reason, the users of bank is more than the users of bitcoin. so, bitcoin can't make banks disappear.

Do you remember in history, we use coin gold, silver, bronze before use paper money like now? Ok, if you know that, you also understand in someday Bitcoin can pass FIAT and replace paper money if the growth of Bitcoin cannot stop.

maybe banks will disappear if banks can not make new innovations to compete with bitcoin or maybe banks will integrate with blockchain technology so banks and bitcoin can work together. there are many possibility that will be happen in future as we don't know what will happen in future and i think right now, it is better for us to use our time to prepare ourselves to face the future.

Could not agree more. The way to prepare for the future is to have some bitcoin savings that you will not touch as long as you can and only withdraw certain percentage that you really need. This savings shall not form part of your other investment like bankroll in your trading and ico investing.

[RayvenPierre]

Its hard to see bitcoin making the banks disappear. Personally I think bitcoin more as a type of investment, not like banks are not similar on some manners. I use banks to store and save my money because they are more secure in my opinion.

[Vritesh]

I dont think so Bitcoin will make bank disppear.They will rather coexist.Banks are not only meant for saving accounts,there are various other services such as lending,mortgage,personal loan etc which is not possible in Bitcoin.Bitcoin is indeed an excellent investment asset but not a replacepent to banks.

[CoinChili]

although Bitcoin is like your own bank as it advertised, commercial bank is a different story as it offers other services like Fiat conversions, bills management, lendings etc. what I see is that banks could possibly use Bitcoin as their platform as a part of another technology driven business

[Shofiqul]

The probability is little to enable that to happen, there are numerous people that is so far utilizing their banks a ton and that is to a great degree normal in light of the way that they don't know how to utilize Bitcoin. We as a whole in all comprehend that Bitcoin is ascending in utilizing and that is unfathomable on the grounds that everything is getting additionally created.

[Medrano2990]

If you look at both, I think Bitcoin is hard to make the bank disappear as Bitcoin is still dependent on the bank and its financial system will not allow Bitcoin to dominate all markets. Instead . They will apply Bitcoin technology to control it

[Flodemaga]

It cant because old people and big fortunes are stored at banks, soo it wont happen at all, as some people said in the past save your money at the banks and enjoy the fees they pay to you, since they lend your money to others. Even the p2p transactions does requires bank, without them bitcoin would be dead since we need to transfer money between accounts. Bitcoin wont replace anything, it can improve all services as remitances, providing a fair system and not abusive charge due to cambio.

[mirakal]

It cant because old people and big fortunes are stored at banks, soo it wont happen at all, as some people said in the past save your money at the banks and enjoy the fees they pay to you, since they lend your money to others. Even the p2p transactions does requires bank, without them bitcoin would be dead since we need to transfer money between accounts. Bitcoin wont replace anything, it can improve all services as remitances, providing a fair system and not abusive charge due to cambio.

People who put their money to banks just want to be safe with their money, but actually they have a business where they get the money they save.
Bank is just good for saving but not for investing, however there are also some who what to fully hide their real wealth and they can store their money into bitcoins but I think there are only few of them compared to the total number of banks depositors.

[Exotica111]

It cant because old people and big fortunes are stored at banks, soo it wont happen at all, as some people said in the past save your money at the banks and enjoy the fees they pay to you, since they lend your money to others. Even the p2p transactions does requires bank, without them bitcoin would be dead since we need to transfer money between accounts. Bitcoin wont replace anything, it can improve all services as remitances, providing a fair system and not abusive charge due to cambio.

People who put their money to banks just want to be safe with their money, but actually they have a business where they get the money they save.
Bank is just good for saving but not for investing, however there are also some who what to fully hide their real wealth and they can store their money into bitcoins but I think there are only few of them compared to the total number of banks depositors.

Yes people use banks for saving to their business so that they saved money for their future. Banks is the popular saving place in our society but when the others seek bitcoin and spread it maybe the bitcoin become the popular saving place also and investment place for everyone.

[Ngewex Yuk]

I'm not sure that bitcoin can make a bank disappear, this is because the bank will always be supported and fully protected by the state. if bitcoin is getting popular, of course the bank will receive bitcoin.

[AnCapFree]

With the money banks have... they are wonder when to beat down bitcoin and make bitcoin disappear then replace bitcoin by their blockchain.

[zelga93]

i think bitcoin can't make bank dissappear . even if bitcoin is secure and anonymity but fee for sending money is very high. and supported by government