Can Bitcoin make Banks disappear?

[avi007]

No, I highly doubt it.

Bitcoin is a system that aims to facilitate transactions without the need for a bank.

People tend to overlook the fact that anywhere where one transacts value in different forms inevitably forms an economy. There shall be tools and factors that influence this economy to cultivate it. Banks are just one of the factors that influence economy. Banks run within a different kind of economy. Banks are designed to safeguard people’s money, lend the same money to people that need them to collect interest and eventually have the money rotated within to generate maximum value per rotation.

Bitcoin’s economic model differs from that of a bank.

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[juliamichaels18]

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?

bank could disappear but i dont think it cause of bitcoin. maybe altcoin such as XLM that been so high latelty that could change the world of bank

[danpaz]

If banks loss its significant to community and to the economy it will gradually disappear in our time, we really don't need banks according to the articles written by evonomics

[kilwaXX]

i think that banks will not disappear there always a way to manipulate people but there is a new born of financial system that make people more comfortable in business that's why i like bitcoin

[jankekek]

yes, Bitcoin can beat Banks and make all banks disappear. Bitcoin systems is more powerful than banks and also provides more facility during BTC transactions. So people love more BTC than banks.

[markleal]

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?

Hi there BTCBinary! I think bank will not disappear, just what most people think of when the computer is invented, they think that calculator could disappear because of that. Same scenario happen when email and electronic chat were created, it manage to become the leader in communication but mail and hand written letters did not disappear. Currently, banks is looking for the blockchain technology, on how the technology could help their institution in providing better service.   

[Gondwanaland]

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 that it might be happen if there is a lot of people someday depend on bitcoin. If no one go in the bank it is possible that bank will not exist in future and the bitcoin will be the alternative of it. If the bank has no use in the community the bank may not exist someday.

[Peter Tor]

Maybe banks will dissapear one day, but global changes in economics and cryptoworld are needed for that.

[ekans45]

Banks in would disappear in the way that they wouldn't function as they do now. But this is only the case if bitcoin becomes a widely accepted currency, and we see worldwide adoption. If a currency still keeps fiat as it's primary currency, then it would need banks. Simple as that.

Bitcoin is develop to facilitate digital currency in the market, it is an option for those people who are loosing their solemn trust with banks with very low interest rate upon saving. But, perhaps the vision of bitcoin developer do not focus on destroying banks on the market, since banking and money management are two different thing. The actual impact of digital currency like bitcoin on banks is yet to be seen, but forecast and speculations from economist and market experts are for us to analyse.

[lfc_san]

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 am not sure if the bank will disappear with the bitcoin because not all people understand about bitcoin and not all also understand the technology. Could be Bitcoin may be currently recognized by the upper middle class.

[Red Fire]

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?

No, bitcoin can't make banks disappear because there are  many things that bitcoin can't make while banks do, like storing money that can be borrowed by other people. And also banks can produce money, any banks can do it while bitcoins can't be produce by anyone.

[blackbutterfly]

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?

Ask of my opinion bitcoin doesn't disappear banks because in our society everywhere in the world Bank is very important to people.because banks is the only way people know how they can save their money for sure.bank is much popular than Bitcoin to those people who didn't know about this.so I think,bank is always going steady.t hey didn't know about bitcoin especially to those who old people.

[heureca]

In my mind bitcoin can't replace bank system. However, blockchain technology could be integrated in bank system to improve it

[lhvleao]

Banks are here to serve the society. When people realize that they don't need banks anymore, I'm sure that they will lose their power and eventually disappear

[Gheka]

yes, Bitcoin can beat Banks and make all banks disappear. Bitcoin systems is more powerful than banks and also provides more facility during BTC transactions. So people love more BTC than banks.

I do not think so, you should compare the number of bitcoin users and the number of bank users worldwide, you will have the answer to this question, we will easily see the bank beat the bitcoin in terms of number of users and trust, Bitcoin is still just a place for people to make money, it can not be a place to store money, it is too risky and unreliable. Therefore, the bank will not disappear, it will still exist for a long time, bitcoin can not affect the position of the bank, it does not have sufficient capacity and the government will not allow it to do things that affect the economy of their country

[sksshopee]

I think Bitcoin will not disappear because after few year banks were also accepting bitcoin due to peoples choice to transfer the money in all over the world or also purchasing house hold goods from that.

[cx_primo]

This days not possible because of to many currency are showing in BTC or Blockchain so we must prepare that its not only btc cn produce its own currency. Just wait for another 3 year and then the possibility is on.

[handsomes]

No, the bitcoin can not disappear simply because it is a cash money in the technology it means base on computer however  blockchain technology can be improved because of its increase the bank can not be lost .

[nicolesalv]

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.

Yeah true. It won't go away, maybe less bank transactions but to be totally not existing anymore ? It is very impossible . Bitcoin is there to earn extra money or to have investment but not to replace the bank eventhough there are bitcoins transactions rhat it doesn't need the bank to cash it out but then there are also lots of stuffs that bank has to do with people transactions. People need banks like banks need people to invest as well.

[Coyoteerex09]

It can't never happen. The bank will not disappear because of bitcoin. I think the bank will make ways on how to adapt bitcoin into their system. Some of the banks right now are already accepting payments through bitcoin.