Can Bitcoin make Banks disappear?

[btcbringer]

so what does bank means, bank are often reforming to follow the step of technology, if bitcoin really can develop to replace the current banks, then it will be the new bank, its my opinion

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[Criptolog90]

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.

[marseille]

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.

There are many people who are scared of using even credit cards for online as well as offline shopping as they feel that someone will hack their account and they prefer to pay in fiat and the scenario would be the same in future too as we cannot expect that each and every person will start using bitcoin and they will continue to use fiat and for that they need banks for sure.

[Nybhelle]

Banks in an establishment that conduct of any financial transactions.Everyone deals through banks from depositing money,loans,exchanging currencies  and for facilitating and transmission of funds must be done through with it.Banks is part of life of many people like money,especially the business mans.Blackchain use for the transmission and the status of the funds,just like banks it use for transmission also,so for maybe in the near future banks and bitcoin may be both useful to each other.The bitcoin can transmit through banks. But bitcoin can't banks disappear,because banks is known as a global financial transactions.

[Viscore]

I think bitcoin and fiat can both co-exist jointly, with bitcoin masking the physical trades and bitcoin utilized in on-line transactions.

That's the reality, bitcoin and fiat can exist together and that would bring good help to the masses especially those people who will adopt with bitcoin.
With bitcoin they can enjoy a fast transaction and it was created to protect our privacy so we can have that which is not possible when trusting our money
and information with bank. We can only get the real transparency when there is no third party and bitcoin has none of it, and time for the decentralized
system to go mainstream.

[MintCondition]

Bitcoin is more secured rather than putting it in bank. Bankruptcy is always present. But Government will not let banks disappeared,they are afraid to loss much money by accepting cryptocurrency because it is untaxable and they can't centralized the used of it unlike in banks

[DoublerHunter]

Bitcoin is more secured rather than putting it in bank. Bankruptcy is always present. But Government will not let banks disappeared,they are afraid to loss much money by accepting cryptocurrency because it is untaxable and they can't centralized the used of it unlike in banks

Banks are good for storing big money and if the person is afraid of losing money for investing in high risks investment then investing in banks are good for them. Bitcoin will not make the banks disappear because that is impossible to happen since the banks are already here in our world for a long time ago and the government backed up the banks so there is no chance for disappearing.

[palensya]

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?

There is a possibility but it would take more and more years before that could possibly happen. If we are heading in the future world the technology could really advance more and it might affect the banking industry specially when crypto currency is already adopted by the people worldwide.

[iamKiko218]

I think banks will not disappear but may have changes on it. Some people who uses bank might transfer to bitcoin but not all. Because there are still services bank offers that bitcoin don't and people would probably stay in a bank. Example is that it's still secure in a bank when depositing a large amount of money while in bitcoin, it might lose when you invest it all. So I believe that banks won't disappear and the government of course won't let it happen. However, I think they can both exist in the market.

[Charot12345]

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 think so too, banks will never disappear. Even though bitcoin is popular and most country use it, it cannot make bank disappear. I’m sure bank will go with the flow or catch up with the trend. They will improved their system or think something new to catch up with the evolving currency. Maybe they can think in the future on how they can cope up in the popularity of crytocurrency. Or they will invent something that can use so that they can use cyptocurrency or its concept on their advantage.

[Dilladupak]

I think the bank will not just disappear if I think the bank can be reduced in the transaction because all the bank's users are on the move to bitcoin to do the transaction on it. Most people now use bitcoin from the bank because bitcoin can benefit more than the bank.so they-especially in our country many use bitcoin from the bank

[An0nyMoose]

Bitcoin is already making banks disappear. It's funny how you've seen some companies try and tell banks they're in a good position right now because people need someone they can trust when they use BTC and why not banks, but they'll always show their true nature in the end.

[ocid]

bitcoin and bank both can be mutually cooperative in order to be mutually beneficial. bitcoin will not be popular without the role of the bank itself. as we know payment transactions using bitcoin can not be inaugurated by all countries. bitcoin is increasingly in demand by its users because this type of digital currency is valuable if it can be redeemed into the local currency they use by way of bank work that facilitates the exchange of bitcoins into local currency in each country.

[8Habits]

bitcoin and bank both can be mutually cooperative in order to be mutually beneficial. bitcoin will not be popular without the role of the bank itself. as we know payment transactions using bitcoin can not be inaugurated by all countries. bitcoin is increasingly in demand by its users because this type of digital currency is valuable if it can be redeemed into the local currency they use by way of bank work that facilitates the exchange of bitcoins into local currency in each country.

For me, I don't see any reasons why banks will not going to adopt bitcoins in one of their services. At least in the future, because bitcoin really has very big potential future in the financial and investment industry. However, based on research, people who are holding bitcoins are more into using it to accumulate more bitcoins than using it to pay for some small transactions online.

[raiblock]

Crypto (and bitcoin) can and ARE making banks change their ways. At least the smart ones will try and develop a climate that includes services and products from the crypto world.

It would also be interesting to see how other financial institutions (ie Western Union, PayPal) will tackle crypto.

[AmXProX]

Hope this happen by the time that I have at least a thousand pieces of coins.

[Eternu]

bitcoin and bank both can be mutually cooperative in order to be mutually beneficial. bitcoin will not be popular without the role of the bank itself. as we know payment transactions using bitcoin can not be inaugurated by all countries. bitcoin is increasingly in demand by its users because this type of digital currency is valuable if it can be redeemed into the local currency they use by way of bank work that facilitates the exchange of bitcoins into local currency in each country.

For me, I don't see any reasons why banks will not going to adopt bitcoins in one of their services. At least in the future, because bitcoin really has very big potential future in the financial and investment industry. However, based on research, people who are holding bitcoins are more into using it to accumulate more bitcoins than using it to pay for some small transactions online.

You are correct and correct. In near future banks will adopt bitcoin in to their services, I mean why wouldn't they. Banks have their bad side and i think we are all aware of that, but I also think that they are necessary evil... at least for now, and probably in future too. It makes me sad to see that most of people that deal with Bitcoin are into it because they can earn easy money. Bitcoin could be much more than that, and I hope that in future it will be. With Bitcoin popularity growing, there will be more and more places where you would be able to spend your Bitcoins, and for that we do not need banks. There is possibility that Bitcoin will be end to the banks, but it is less likely.

[Bambinoe]

I dont think that Bitcoin or should i say the use of crypto currency in general will make banks disappear. Because the need for physical cash can't be ruled out completely especially when it comes to petty trading.

[coinholic]

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?

Since most of the major banks in the world are owned and controlled by the Rothschilds, it is unlikely that they will be wiped out just because of bitcoin. Im pretty sure they will use their power and influence to make sure that the banking business stays in the system.

[MMostaza]

bitcoin and bank both can be mutually cooperative in order to be mutually beneficial. bitcoin will not be popular without the role of the bank itself. as we know payment transactions using bitcoin can not be inaugurated by all countries. bitcoin is increasingly in demand by its users because this type of digital currency is valuable if it can be redeemed into the local currency they use by way of bank work that facilitates the exchange of bitcoins into local currency in each country.

For me, I don't see any reasons why banks will not going to adopt bitcoins in one of their services. At least in the future, because bitcoin really has very big potential future in the financial and investment industry. However, based on research, people who are holding bitcoins are more into using it to accumulate more bitcoins than using it to pay for some small transactions online.

You are correct and correct. In near future banks will adopt bitcoin in to their services, I mean why wouldn't they. Banks have their bad side and i think we are all aware of that, but I also think that they are necessary evil... at least for now, and probably in future too. It makes me sad to see that most of people that deal with Bitcoin are into it because they can earn easy money. Bitcoin could be much more than that, and I hope that in future it will be. With Bitcoin popularity growing, there will be more and more places where you would be able to spend your Bitcoins, and for that we do not need banks. There is possibility that Bitcoin will be end to the banks, but it is less likely.

Wow! your last point is quite interesting: "With Bitcoin popularity growing, there will be more and more places where you would be able to spend your Bitcoins, and for that we do not need banks". For me it sounds like an unreal future, but I would like to see and experience it

As I know one of the reasons for what banks are not still into Bitcoins is because the transactions are too slow for them. What you guys think about the announcement of Stellar Lumen partnering with IBM and KlickEx? I have read that the main value of this partnering is the easy and fast way transactions will be made. And that makes me think this is not only a good news for Lumen holders, because the value of XLR is growing crazy high since yesterday, I think is also good news for Bitcoin because is marking the path to increase and improve relation with banks. And, while we don't reach that idilic future without banks, the way to bring Bitcoin to the big audience so they start to use on their day to day is improve this coexistence with banks.