Can Bitcoin make Banks disappear?

[Dannaey]

It seems it will make banks disappear if Bitcoin become our digital currency. Because that time we do not need to let the banks keep our own money because we know how to. It will lessen the risk if we are the one who is keeping it. I do believe that Bitcoin will have a positive future and I know how will he change the game.

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[Shiversnow]

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?

I don't think that bitcoin is strong enough to completely replace the banks because banks play a major role in the economy. And since the majority of people are not part of the online market, cryptocurrency has still a long way before it can reach the life of an ordinary person, in my country at least. Here, banks are still more important. But I know there would be time that bitcoin will rule everything out.

[mdani1]

in my country not many know about bitcoin..but this only happens if bitcoin becomes a widely accepted currency, and we see adoption around the world.

[madman_sage]

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?

If they can't keep up with technology, they will go bankrupt. This is what I understand, anyway.

[greenclub09]

bitcoin has so may advantages that can be a good currency to make banks disappear, and we are always know banks are being threaten by digital currencies, so they have no choice but evolve themselves and be come better to against bitcoin or they will be eliminated in the future.

[DIMKAZDS]

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?

I don't think that bitcoin is strong enough to completely replace the banks because banks play a major role in the economy. And since the majority of people are not part of the online market, cryptocurrency has still a long way before it can reach the life of an ordinary person, in my country at least. Here, banks are still more important. But I know there would be time that bitcoin will rule everything out.

I would choose banks over bitcoin even though bitcoin has higher potential of making one rich. Still I’m going for banks over bitcoins is because firstly, banks are way more popular than bitcoins among people. Which has lead to increased users to banks which are far more than bitcoin’s. Then bank does not require internet to run whereas bitcoin can’t survive without internet and still there are many places where internet is still not available. Then banks regulate the fiat currency leading to making it more stable and easy to use.

[RomanPetrush]

Banks wont dissapear. They are just will eat the cryptocurrencies, cryoto will be the piece of the banks. So, soon  we will get salaries in crypto.

[Dewi08]

Banks wont dissapear. They are just will eat the cryptocurrencies, cryoto will be the piece of the banks. So, soon  we will get salaries in crypto.

But I think the bank that will be part of Crypto, where we can see Crypto is very strong today compared to banks, even I do not know the future bank fate, whether all countries will still need a bank or not ..

[taxmanmt5]

Bank will never disappears.  Bitcoins can't take place money. Most of peoples aren't aware about bitcoins. If money exist then bank will exist too.We will still use banks in future in order to send or receive money. Maybe they can change the idea and involve with bitcoins and use to send or receive bitcoins same as wallet.

[kakoli akter jhumu]

No i don't think...it will vanish in a day....cause Still most of the people think...bank is a secure place to invest but in my country bitcoin is gradually getting popularity...but it may happen someday

[tushin4]

Its not possible right now . bank is a safe way to protect your cash money . its maintained by huge responsible people . and it’s a safe way to saving and earning profit and it is most popular way to save your earnings. So I don’t think it is possible.

[learner 7]

Bank will never disappears.  Bitcoins can't take place money. Most of peoples aren't aware about bitcoins. If money exist then bank will exist too.We will still use banks in future in order to send or receive money. Maybe they can change the idea and involve with bitcoins and use to send or receive bitcoins same as wallet.

Totally agree with you, you do not need to go to extremes. We need banks and we need bitcoin and we always have many options to take advantage of. And it's wonderful that there are many opportunities.

[sharan_vij]

Technically bitcoin is more advanced bitcoin. It will take some time for bitcoin to come into international market. But many people have less familiar with bitcoin. So all of sudden it is not possible

[DesmondHayes]

Banks won't disappear cause richest people in the world are bankers. Bankers are the ones that are holding the balance. BTC that is invented cant destroy something that has been built for ages, Banks will always be here, maybe bankers will also embrace the BTC as a legal currency in some countries. BTC is also powerful but the real problem is it is not connected with tax and bankers are. Taxes are reasons why countries survive.

[Julia_bitcoin]

I agree that bitcoin will not replace banks, because bitcoins can not act as a reliable means of payment because of their high volatility

[bazdarx8]

I don't believe Banks will ever disappear one of the few reason why is People wanna feel secure with their own money and being able to control it whenever they can once its in their account, But with Bitcoin its a bit difficult to control the value of your coin worth.

[Viscore]

I don't believe Banks will ever disappear one of the few reason why is People wanna feel secure with their own money and being able to control it whenever they can once its in their account, But with Bitcoin its a bit difficult to control the value of your coin worth.

Majority of the people are still believers in banking industry so they will remain, bitcoin will also continue it's progress but they will exist together.
If the government will shift to a blockchain banking, they can do that because they have the capacity but people will have to choose whether they will adopt on a centralized system or the original which is decentralized. Adoption will grow but not enough to surpass the popularity of the bank.

[mukeymon]

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?

Actually, I think bitcoin may cause the banks to disappear as more and more investors are interested in the crypto market.

[deviant99]

Possibly, Bank will not be disappear because of Bitcoins. well, as we all know, we can store our bitcoins in our virtual wallets. We still use banks for our actual money to store.

[KevinHD]

nope because of the uncertainity of the what can da bitcoin do ord how high will it go we just dont know if bitcoin will ever end or not.