Can Bitcoin make Banks disappear?

[Rascar Capac]

I don't think that will happen anytime soon, BTC is a currency of the future but taking over place of the real currency of the world that is pretty structured currently won't be a short-term project if BTC could overthrow fiat at anytime.

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[xnuggets]

It may disappear in our heads, but it will not. Moreover, it will find ways on how to cope up and making services to people. Maybe, it can adapt and use bitcoin as well.

[lukesimon]

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 so, even though BTC reach its highest value and have the possibilities to become much bigger for the next decade, Banks has an important role in the world but both banks and bitcoin have their advantages and disadvantages. We can actually use both to make our lives better and our transactions more efficient, whereas they may be developed further, change the way of the actual existence but I think that Banks will eventually survive.

[thesavoyard]

Satoshi's blockchain based digital currencies can possibly replace banks in the very long run. It won't happen by itself and this community is not advancing that dream. There really isn't much serious going on, a lot of people think it happens by itself.

[cryptosy]

Bitcoins will develop a structure of alternative banking, but it won't make the banks disappear. Banking is universally known and the banks has been used by normal people. It takes time for bitcoin to reach normal people.

[moetimas]

if the Bank disappears then there will be no more cash (paper or metal), while we still need it all. Bitcoin is troubled by the length of time of confirmation and a considerable fee if it wants to transact more quickly. I prefer both side by side, I need Bitcoin and also Bank. I think it will look fairer.

[Mystika]

I think therw will be no effect on banks when it comes to bitcoins. There are still transactions that needs the service of banks. Like making a deposits likes in saving and also in checking accounts. Also not all people have access to internet so will prefer the services rendered by banks.

[arief89]

If in my opinion better bounty because airdrop is not promising, airdrop only give coins for free while the gift has to do the task according to the rules after that can get the coin ..

[Arisgado]

I don't think it will happen that bitcoin make bank disappear. Fiat is widely used all over the world. Banks have been around for thousands of years and will continue to be institutions for off-person savings. Banks are really important to us, so it will never disappear and this is only my view.

[xiboothrezi]

instead, I assume the bank will continue to exist, and begin to adopt the blockchain system. it's more effective, because banks and bitcoins are not enemies. besides, in some cases bitcoin is less effective to use, for example if there is no internet. so, I think bitcoin and bank will complement each other.

[Coyoteerex09]

It is more like bitcoin will be adopted by the banks. There is no way Banks will disappear, it could possible collapse the economy if the Banks will disappear.

[Chainblock]

I don't think so, Banks are still the base of the current economical system and people would still need USD ability to exchange bitcoin to it and use it in local transactions.

[akeegan]

The banks have a lot of power and I don't think they're going anywhere tbh.

They'll figure out a way to capitalize on noobs.

[Chainblock]

Making banks get disappeared is not simple. From the observation I understood the banks might increase their technological development, else banks which adapt bitcoin technology would come into existence.

[futuret]

In my opinion, It is impossible that bank will disappear because bank has an offer that bitcoin can't offer for the people like loans for houses, business and many more. bank will not disappear but they can change or they can work with bitcoin.

yea idea of the mate is correct up to an extent that bitcoin will never disappear bank system due to the reason that bank system is very old, trusted and strong system throughout the whole world while also bank system is legalize in every country while bitcoin is still not with addition with this become system is offering various offers like giving cars,house etc while still bitcoin is still not giving any such offer.

And it is not a small thing to change bank and relative of banks. If bank will change procedures for only bitcoin then it is also a great achievement for bitcoin users because with this we will get what we want and will make high profit, this will cause bitcoin price change and will give huge benefit to max of people who are using bitcoin and are investing in it for the sake of profit, today all people trust bitcoin and putting all of their money in bitcoin do for me bitcoin is going to be the future bank.

[jirene21]

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?

It might but there is a higher possibility that we will get banned first before the bank disappear we will be targeted by many bank so they could continue their business

[ravedien]

maybe bank will adapt the blockchain as a whole and regulate it. hohoho. end game

[8Habits]

In my opinion, It is impossible that bank will disappear because bank has an offer that bitcoin can't offer for the people like loans for houses, business and many more. bank will not disappear but they can change or they can work with bitcoin.

yea idea of the mate is correct up to an extent that bitcoin will never disappear bank system due to the reason that bank system is very old, trusted and strong system throughout the whole world while also bank system is legalize in every country while bitcoin is still not with addition with this become system is offering various offers like giving cars,house etc while still bitcoin is still not giving any such offer.

And it is not a small thing to change bank and relative of banks. If bank will change procedures for only bitcoin then it is also a great achievement for bitcoin users because with this we will get what we want and will make high profit, this will cause bitcoin price change and will give huge benefit to max of people who are using bitcoin and are investing in it for the sake of profit, today all people trust bitcoin and putting all of their money in bitcoin do for me bitcoin is going to be the future bank.

Bank will definitely not change its standard procedures for bitcoin - it may happen in the future but not anytime soon. Banks is already an institution for fiat money and it will be a disaster if they will adopt bitcoin instantly. We can just say to leave bank with fiat and bitcoin wallet for bitcoins.

[Chainblock]

banks are the worst nightmare and bitcoin is a life saver but still i dont think bitcoin can make banks disapper i think bitcoin still needs some time to make a place in everyones mind. peoples blindly trust on banks but dnt trust blindly on bitcoin

[vincentbeth934]

Bitcoin is a life saver only because of how high its price got. Now, it's a coin with super high transaction fees with unreliable processing time.