Can Bitcoin make Banks disappear?

[Asmonist]

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.

I agree with that. Bitcoin may change the prospective of banking industry. Change as they say is constant. That's why every industry not only banks should adopt to the changes that come along the way. Bitcoin will sustain in its own way. Banks will find new ways to improve and innovate there services. In a way both may flourish. Bank may allow to transact bitcoins. Bitcoins on the other hand will be more reliable through the banking industry. There will always be many ways to create a product or services using bitcoins and transacting it through the banks.

[DRACOCYLUS]

yes of course it can. i think that we can see bitcoin based economy in near future in this world.these days bitcoin legalisation decisions from main governments will be very important point. we can predict that. wait and watch. that's it  

[python13]

i think it can't because bank works in the country to make circulation of money in that country, and all people can't use bitcoin, we need offline currenciies like money too to use it offline and when internet is down or something else, maybe someday bitcoin can make credit card dissapear

Physical money tend to disappear. Every year more and more people use cards and use less cash. And when your money is on the card - they are digital.

[Lykslyks]

Not its not possible, banks are always needed for people.
Not everyone is gonna use bitcoins for payments.
Plus the most bitcoin is digital and online and I do not see people pay online wit bitcoin.

I agree! Aside from the fact that not everyone will use bitcoin for payments or any transactions, banks are centralized by the government so i think it would not disappear. Maybe some of it's policies, rules and how they do transactions would change because they will be affected by bitcoin, i strongly believe that the government will make a move to make banks stay to what it is today.

[hangar18]

i think it can't because bank works in the country to make circulation of money in that country, and all people can't use bitcoin, we need offline currenciies like money too to use it offline and when internet is down or something else, maybe someday bitcoin can make credit card dissapear

However, as per my know, Facebook and Google are want to create an internet network coverage worldwide. I think if these largest company can do that in future, the future use Bitcoin every where can happen.

[alkiw21]

i think it can't because bank works in the country to make circulation of money in that country, and all people can't use bitcoin, we need offline currenciies like money too to use it offline and when internet is down or something else, maybe someday bitcoin can make credit card dissapear

I agree with you. however we still need paper money, because not many people know about bitcoin.

[Ruggito]

I think that bank will not disappear in the near future. Btc can be a great hedge, but all the features that a bank is doing in the modern economy it's hard to replicate. And even in this case, Btc or crypto should be broadly accepted from the common people, from the financial istitution and the political power. I think that Btc could play a role, without replace it in full the bank system  

[LeoEspansq]

Banks can not disappear because their owners are the richest people in the world and they will not allow anyone to destroy their source of income.

[KenDowson]

Absolutely not. Rather, banks will provide services related to crypto-currencies

I agree. Fiat and crypto represent a single economic system. There will always be supporters of one or the other.

[chrisst]

Yes if many trust in bitcoin it can make Bank system end Because bitcoin is better than bank system with golobal send and small fee + no ID needed

[Creepings]

Yes if many trust in bitcoin it can make Bank system end Because bitcoin is better than bank system with golobal send and small fee + no ID needed

No Id needed? Do you think if the banks dissapear the governments will let the people use bitcoin without any identification cards? And if the banks dissapear because of bitcoin, what will happen to people who barely know bitcoin and do not have that knowledge in technologies, let alone bitcoin.

[Ardenoss]

Bitcoin actually requires banks as a second party for users. Because bitcoin will only remain an alternative to our financial transactions and not priorities.

[kpcian]

I don't think so. Because every bank has a huge capital and people's involvement, so they are always trying to give the better service for their consumer. I believe when they feel threaten for the Bitcoin then they will try to be marged with this system and they will try to survive by any chance.

[DG2000]

No I don’t think that bitcoin can make banks to disappear in the near future for sure because. Firstly, banks are continuously controlled by the central government which results in increasing its stability in the market. On the other hand bitcoin is not controlled by any government, which makes results in decreasing of its stability. Secondly the prices of a currency remains constant and rarely changes. On the other hand there are sudden drops or sudden increase in prices of bitcoin, which is also an example why people prefer currency over bitcoin.

[Nakakapagpabagabag]

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?

The bank may disappear, due to the spread of bitcoin. Most people use bitcoin and often the bank is unnoticed. There are only two differences between them. Bitcoin is the only money that you hide there is a possibility to increase due to its increasing cryptocurrency value. More precisely compared to the bank that often scams and scams credit in bank accounts. So the bank may lose if they do not fix the security that should be deposited in their bank. In bitcoin you're confident because you know you'll find it harder to scam anymore.

[goinmerry]

The bank may disappear, due to the spread of bitcoin. Most people use bitcoin and often the bank is unnoticed. There are only two differences between them. Bitcoin is the only money that you hide there is a possibility to increase due to its increasing cryptocurrency value. More precisely compared to the bank that often scams and scams credit in bank accounts. So the bank may lose if they do not fix the security that should be deposited in their bank. In bitcoin you're confident because you know you'll find it harder to scam anymore.

You are wrong. Banks will never dissappear just because of bitcoin awareness. There are things and services that only banking does have compare to what bitcoin ca give to us. You also wrong that you are confident because it will not likely to get scam in bitcoin. Remember that to truly used bitcoin in it's extent and usages, we must used the services of exchanges. Because of that it was have the same idea of using banks.

Im using banking services for long time now and a bitcoin enthusiast. If you know the differences and advantages of using them there will be no room for comparison here.

[androidpobeditel]

Uniquely, bitcoin will not make the banks disappear. Just the time will come when all banks will understand that without the use of crypto currency they can not exist, therefore they either adapt or close. Well it's obvious, because you need to adjust to progress. Of course, the cryptocurrency is changing the entire financial market.

[John Langut]

Banks will not disappear. Now they try to ban bitcoin, but in the end they will adapt. Russia announced to ban bitcoin trading sites, big dogs fromWall Street cursing bitcoins, while they all want to grab their share and make big money.

[yoseph]

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?

The bank may disappear, due to the spread of bitcoin. Most people use bitcoin and often the bank is unnoticed. There are only two differences between them. Bitcoin is the only money that you hide there is a possibility to increase due to its increasing cryptocurrency value. More precisely compared to the bank that often scams and scams credit in bank accounts. So the bank may lose if they do not fix the security that should be deposited in their bank. In bitcoin you're confident because you know you'll find it harder to scam anymore.

Banks are not entirely going to disappear at all, Though through bitcoins, lots of banks have lost many of their customers and we all know that without their customers, these bankers lose money. There will continue to be banks as long as employers insist to pay their employees in banks that thy save at.

[Evilmorty69]

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?

Yes , why not? maybe it's our future   There are some much different advices and opinions. How do you check all these projects, guys? I just found Omega One and Confideal. Last should be interesting due to usual people orientation