Can Bitcoin make Banks disappear?

[8Habits]

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.

Fiat money currency will eventually go its value down due to inflation and bitcoin don't have that due to the fact that it is a scarce resource as it has max cap of only 21 million bitcoins to be made compared to currency that can produce as long as the government want it.

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[vinz7229]

im sure it can...but it will take a long time to make bank dissapear...
but make sure that all people know what is btc...in my country just a less people know bitcoin...

I think this couldn't be happen, bank is more reliable storage to use than Bitcoin. It has controlled by the government with corresponding Law's. And also people would prefer to convert their Bitcoin into Fiat currency in the long run, cause Bitcoin doesn't have stable price. And also bank can accommodate lot of people doing different transaction. Unlike Bitcoin if theirs a lot of people buying and selling coins, sometimes it crash or down their system.

[gustaf.berg]

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.

Unfortunately it is under contol of those whales and I'm afraid that whales controls banks too. So I feel like we are again trapped. Few years ago I was hopeful that crypto currencies can change the current corrupted system but slowly losing my hopes.

[angrybirdy]

Unfortunately it is under contol of those whales and I'm afraid that whales controls banks too. So I feel like we are again trapped. Few years ago I was hopeful that crypto currencies can change the current corrupted system but slowly losing my hopes.

That is very unfortunate for you if that is the case. Although, my hopes are still up for bitcoin as I see this to be the future of digital market/trade, only, that the blockchain must be overhauled so that faster and cheaper transactions can be possible.

[nemesis_]

Banks are already part of human lives since it was first established. For some, it will be the safest place to keep your money. But as technology develop more, things are also developing and being created like cryptocurrencies. Specifically, bitcoin. Yes, bitcoin may have lot of advantages over cryptocurrencies, but we cannot deny the fact that even things better than banks are rising, we cannot totally remove banks in the way people handle money. Many may consider to do cryptocurrencies but still, there are still people who still trust banks. Banks cannot totally disappear.

[lovela]

No, banks can hardly be disappeared. Why? Not all people have the same mind, hence, we do not manage our money the same way. NO matter how popular the bitcoin will become, there are still people that will consider trusting banks for their assets.

[joshua05]

Banks will change or go under but they won't be gone, and no banks can hardly be disappeared ,  bank is more reliable storage to use than Bitcoin , for me bitcoin can never replace bank

[EiKaGlaShPriSAThWEl]

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 do not know in the future. But by now, I think it is still impossible that banks disappear. There are still many places that depends on bank and not in something like ATM, or online wallets because they do not know how to use ATM and they have no idea about the online wallet.

[Rollex]

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?

For me, it is a totally no. Even though bitcoin was really a fast rising currency in terms of being a virtual money which offers much larger benefits compared to banks, more accessible compared to banks still bitcoin cannot make banks disappear because banks as we misconceptionally know, do not just focuses into investments of money and saving of money, banks do also offers other features that bitcoin cannot still provide. I do not evenly know those exact features but I know that it do offer other services that only banks can provide right now that is the reason why other people still prefer and continuously engaging into banks even bitcoin can offer a lot more impressive works than banks

[McKane]

It's called new technology of getting profit when you are investing into bitcoin. Because if you invest into bitcoin you are getting high profit while you invest into banks then you are getting low profit which is nothing in front of bitcoin. So i will suggest to those people who are investing into banks they are totally doing wrong with themselves because bitcoin is more popular and most fastest as compare to banks. If you invest into 100$ into bitcoin after 2nd days 100% chances that you can earn 150$ mean 50$ profit. While 100$ investing into banks then you will get profit after years just 1$. So now tell me that bitcoin is better or banks? Of curse bitcoin is more better. SO there are 90% chances that bitcoin will disappear banks. 10% chances that banks will marge with bitcoin.

[Bella Thorne]

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

I dont think so that bitcoin can make banks dissapear in this world, because banks has a big role in this world and banks is part of the everyday life of people so that was very impossible that bitcoin will make banks dissapear. banks is will always people needs for there transcation.

[kukuli]

Hat is not attainable. Many people need their banks and you can fine proclaim that. It is definitely important for them consequently it can't disappear. I set sight on that more people will of course use bitcoin. That will be selected pleasurable. But you never know what can happen following the value.

[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.

Be remember that no one country can want to disappear bank system and the bank system is the strongest system through out the whole world and the users of bank are infinite so it is not possible to disappear bank system by bitcoin yes we can say that it will reduce some followers of bank.

[christina30]

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?

Banks are already there.Most of us people are using banks that why its impossible that banks will disappear east also the government needs more to know the use about bitcoin before they decide about disappear of banks .

[Ajinomoto40]

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?

We are all used to transact our money in the bank and the banks are already there ever since before bitcoin came. Blockchain technologies are being tolerated in the banks today and they are almost taking over the entire monetary system of the world. Maybe time will come wherein the banks existing today will be gone due to the innovations of the cryptocurrency. People will start to patronize it over banks since it is easier.

[Ponzi Shame]

Its not possible to say that at this time that bitcoins market will make banks disappear. The bank leaders are the master player and have their own strategy about it to how it will work around the whole world. We bitcoins users have to get support from the bank through ATM of the local bank so to get our transaction from bitcoins.

[Spontebob]

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 think bitcoin can make banks disappear but that wouldn't happen yet since the transactions are usually being made in the banks. It serves as a bridge for them to be converted to fiat money. As this continues to happen, the bitcoin will surely increase its domination as time passed by that's why it is a must that we earn bitcoin while we can still do it.

[caobang]

Bitcoin can not replace the bank, many people still do not know bitcoin, banks more reliable 

[rhayot]

Bitcoin can't disappear the bank, bank is establish and all of the people are aware about banks unlike in bitcoin there are still people who doesn't know about banks and if people will let they know about bitcoin in the long run, probably most of them will not use it as a currency due to it's a online crypto currency, and there's no any hard paper or hard proof that it is a logical currency for day to day transaction.

[Mr.grin]

I'm sure, so many banks are panicking at the moment. many people are attracting the money they have just to invest in bitcoin. but there are some banks that support this, perhaps because the bank has a strategy to benefit from this as well.