Can Bitcoin make Banks disappear?

[Jannatul Shefa]

I don't agree that bank will disappear.Instead of disappearing may the curriculum of bank will change.May be they will start using bitcoin . But bank won't disappear.

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[P3]

I don't think banks will dispear, by the fact that not every body who banks knows about bitcoins

I figure banks will be exceptionally affected by bitcoin in future. Indeed, even it is conceivable to vanish some of them. Since bitcoin is giving such offices to the general population that a bank can't provide for is account holder

[Tantalala]

I do not think the banks will disappear, at least the governments from each country will take care that this will never happen. Maybe they will change their activation strategy on the market and start investing in bitcoin, as most of them are already doing. It's a hard to predict this kind of stuff when the governments are involved.

[Ipwich]

I do not think the banks will disappear, at least the governments from each country will take care that this will never happen. Maybe they will change their activation strategy on the market and start investing in bitcoin, as most of them are already doing. It's a hard to predict this kind of stuff when the governments are involved.

Banks will stay because it will save the masses, there is no way the cryptocurrency will beat the bank.
The KYC is necessary for the government to monitor people, which bitcoin will be dominant and majority of people will use, for sure there will be a big problem.

[Derrick]

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?

Bitcoin will still need more years, perhaps decades, to mature more and be known by the majority of the world population before they can take over the banks in saving money. There are some things that banks have and cryptocurrency don't like loans. While bitcoin  can offer higher interest if you save up your money there. Let us just wait and see who will win in the end.

Yes most probably bitcoin will disappear bank in future because the users of bitcoin is increasing with a fast rate and in future they will affect the customers of bank on a high level and most probably some bank will loss their maximum customers due to bitcoins.

[Crypto4K]

Banks will not disappear... They will offer new services connected with bitcoin
1. Purchase.
2. sale.
3. storage.
4. loans in BTC.
Banks for money will do anything.

People will do anything for money. We ALL have a choice and we need to choose wisely.. 

[LETme]

Not a chance that bitcoin can make banks disappear our ancestors used bank for century and many banks are accepting bitcoin or other altcoins by converting it to paper money or local currencies. Meaning it is impossible to make bank disappear.

[Harriti]

Banks will not disappear... They will offer new services connected with bitcoin
1. Purchase.
2. sale.
3. storage.
4. loans in BTC.
Banks for money will do anything.

Four things you listed, Bitcoin can does all. Sadly Bitcoin can't use without internet, the banking system are the base to help FIAT active. Without the banking system, there is also no government and the world's economy won't control by anyone!

[Sanitough]

Banks will not disappear... They will offer new services connected with bitcoin
1. Purchase.
2. sale.
3. storage.
4. loans in BTC.
Banks for money will do anything.

Four things you listed, Bitcoin can does all. Sadly Bitcoin can't use without internet, the banking system are the base to help FIAT active. Without the banking system, there is also no government and the world's economy won't control by anyone!

Banking system are the most trusted because bank is a business of trust, without bank and everything will be decentralized there will
be a lot of problem that we will encounter, when the government cannot verify the transactions, money laundering will be rampant.

[dbutp]

bitcoin can not replace banks. Although bitcoin has many benefits but banks also have the benefits that bitcoins do not. The bank can give someone a loan and the bitcoin is not. At the moment, banking is still a priority for most people.

[kushanuradha294]

Banks will not disappear... They will offer new services connected with bitcoin
1. Purchase.
2. sale.
3. storage.
4. loans in BTC.
Banks for money will do anything.

I think this fact can be true since banks will do whatever it take to keep their business running, More the world prone to crypto field more they will be flexible to trade with bitcoins. And also this could be good for the crypto trade as well since many people have security concerns regarding bitcoins, but when banks start to be flexible for bitcoins and start trading with bitcoins it will give a reassurance for the people who think bitcoin trade is risky. 

[Slipknot79]

Bitcoin is certainly going to make a squeeze on the profits of banks. Initially it will be forign transactions that bitcoin will take over.

[Et Hereum]

Banks will not disappear. The economic system needs banks. But the banks will lose revenue. The banks will want to integrate into the Bitcoin system. Already some banks are preparing for the transaction with Bitcoin.

[YTBitcoin]

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 read a quote saying “Bitcoin will do to banking industry what emails did to the postal industry”.
In the past banks have playes significant role in financing in loans to the public. As gold and silver have been replaced with fiat currency,the banks have reached an almost omnipotent position.
More likely that governments will co-opt crypto and begin issuing their fiat money as a crypto.

I have the same point of view that it is doubted that Bitcoin will be replaced banks. As the huge amount of investors are joining Bitcoin daily. Then a time will comes when Bitcoin will legalize internationally. And as its quality that there is no third party involve in Bitcoin. So there would be no needs of banks in future. Everyone wants his transaction speedy and free of cost.

[MyIdeas]

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?

Individuals must choose between limited options to secure their cash, banks has ensure till a sum reinforcement by the nation, bitcoin has potential, however beyond words or later nobody knows, so on the off chance that I need to pick I would go into both as I consider and have confidence in bitcoin potential and I would prefer not to banks to continue taking the expense to they loan my cash to others, they should pay me to get my cash and not the turn around.

Fluctuation in rate of crypto currency is very high than exchange of real money. Bitcoin needs no banks. It is free of involvement of any other person. Banks are traditional fees and rules & laws. But in the case of Bitcoin has no rule and regulation. You just have to access through internet. One can trade on Bitcoin easily by using internet. It may be possible that Bitcoin will be disappeared bank in future due to its unique properties.

[dotcomwriter]

I don't think bitcoin can make banks disappear but it can lead to a significant reduction of banking organizations. It is also likely to change how banks operate in future.

[codecares]

I think there is not any reason that bank can disappear owing to bitcoin. Bank is usually safe than bitcoin. Bitcoin is for online cash and banks square measure our native value that we are able to firmly save our cash via bank. Bitcoin has no stable worth so bitcoin isn't the simplest choice to save our cash.

[Mikasa77]

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.

No it wont happen. Bitcoin will never make bank disappear even it has a big value or importance because banks are all manage by te government and all people agree and accept it unlike to coins that bot everyone knows it. Banks will still remain and bitcoin was just in the virtual world. Bitcoin was just give contribution to the banks but it cant make it disappear.

[USScrypto]

if interest of people is going to be like that I think banks will have a lot of issue in future, maybe it ll not dissaper but they ll have some other activity but they ll not have profit like today.

[HalfDeck]

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?

Individuals must choose between limited options to secure their cash, banks has ensure till a sum reinforcement by the nation, bitcoin has potential, however beyond words or later nobody knows, so on the off chance that I need to pick I would go into both as I consider and have confidence in bitcoin potential and I would prefer not to banks to continue taking the expense to they loan my cash to others, they should pay me to get my cash and not the turn around.

Fluctuation in rate of crypto currency is very high than exchange of real money. Bitcoin needs no banks. It is free of involvement of any other person. Banks are traditional fees and rules & laws. But in the case of Bitcoin has no rule and regulation. You just have to access through internet. One can trade on Bitcoin easily by using internet. It may be possible that Bitcoin will be disappeared bank in future due to its unique properties.

It is not a function of Bitcoin, it created by the nature and the Bitcoin users. Honestly, I do not like to use a currency can not control the price fluctuation. But in the fact, the whale are controlling the price fluctuation of Bitcoin, they are spending their money to buy/sell it and make the traders want to buy/sell Bitcoin as their want.