Can Bitcoin make Banks disappear?

[Ignacio.Martin]

Governments in each country are too interested in controlling the people living in it, so this is highly unlikely.

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[bluetoast09]

I think Bitcoin will always be a sort of "Gold 2.0". Even with systems like Lightning to make transactions cheap and fast people will still hoard/hodl. Crypto won't go away either, it will have it's own niche as a store of value and alternative currency, but right now it needs fiat to survive and I see them being co-dependent on eachother for a while.

[ASHLIUSZ]

Bitcoin can not serve as a reason for the disappearance of banks. Banks will always exist, because there will always be people who do not want to use crypto currency, or for some reason can not do it. It will be their right and no one can force them to use the crypto currency.
      In addition, banks will always serve a certain part of the business, as well as state structures in their financial activities.

Yes, bitcoin will never serve as a reason for the disappearing of banks. Bitcoin came into usage to fulfill the things that is not possible with the banking system. Right now bitcoin has dependence over banking network, so it never leads to a replacement or a disappearing. Everything happens as an healthy growth to move next levels of growth.

[FireShark89]

Bitcoin could have eventually made banks obsolete and disappear for good. Luckily, banks found a way to disrupt Bitcoin. It's called Ripple. Just my 2 cents though.

[boddy.dy]

No!! bitcoin can’t and nothing can do that. Even the bitcoin need the bank. Bitcoin and bank has a lot of difference, bank is also connected to all of the countries, and they have a kind of standards to follow. Unlike with bitcoin, it is not globally accepted and we don’t even know who is the one controlling this, so it has no standards. Banks are highly secure that it is insured thru other banks, that if the time come that it will be bank corrupt someone will rescue them, and that bitcoin don’t have, the secure and the one who will rescue in time of emergency. Bitcoin is good but it cannot and will never ever banks to disappear.

[Crypto4K]

No!! bitcoin can’t and nothing can do that. Even the bitcoin need the bank. Bitcoin and bank has a lot of difference, bank is also connected to all of the countries, and they have a kind of standards to follow. Unlike with bitcoin, it is not globally accepted and we don’t even know who is the one controlling this, so it has no standards. Banks are highly secure that it is insured thru other banks, that if the time come that it will be bank corrupt someone will rescue them, and that bitcoin don’t have, the secure and the one who will rescue in time of emergency. Bitcoin is good but it cannot and will never ever banks to disappear.

Wrong.
Banks are not higly secure. They get broken into, SWIFT system was hacked 3 times last year, they cheat with their holdings and create money out of thin air. It is not SOMEONE rescuing them it is US. The taxpayer. You and me. Managers will still get their bonuses. So it's our choice to make, wether we trust in an unhackable code to transfer value, or humans that break their promises...

Watch this: https://www.youtube.com/watch?v=mII9NZ8MMVM

[halenephthys]

I don't think so. No matter how popular bitcoin is today, I don't think that it will replace banks anytime soon. Despite of the number of people who trust and use bitcoin nowadays increasing, there are still people who will continue to choose bank. It will always be a part of human lives.

[ms.moon]

Bitcoin could have eventually made banks obsolete and disappear for good. Luckily, banks found a way to disrupt Bitcoin. It's called Ripple. Just my 2 cents though.

As my knowledge, Ripple like a tool to help Bank operate smoothly, saving cost.. And when buying Ripple, we still need to exchange through Bitcoin.
How can Ripple make Bitcoin disappear?

[derdgzmn30]

Maybe in the future

[lillyann]

 do not think that the banks will disappear completely. Large-scale loans are needed, and the average blacksmith does not have the knowledge and options to conduct a risk analysis. I borrow a bank money, the bank gives credit to my money and shares interest with me. For the benefit of everyone. The beauty of bitcoin is that there will be no excessive creation of money, everything works honestly.

But in fact an important part of the services will be displaced by decentralized systems. Exchange P2P currencies at decentralized exchange offices - no one will ever take 2.5% off of currency conversion. Trading in a variety of assets without intermediaries, trading with a lever with borrowing directly from users and not from a broker (and it works!). For this, automated consumer protection with trustless escrow ...

[Thadeous]

On my opinion stable economical ecosystems will always require both virtual and real assets, paper and digital cash, gold ingots and gold crypto standards, like Bitcoin.

[GoldMen]

It is a company of years and very large, which also handle all the cash in the world. I do not think it disappears. But if the cryptocurrency or virtual money is grabbing more and more power

[Andrewsito]

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 personally don't see a possible scenario where cryptocurrencies replace banks. given the great weight and influence that these institutions have on society. having said this, if I see the need for these institutions to start taking steps to adapt to what is obviously something that will be part of the economy and finances of the future.

[LordDisick]

I do not think bitcoin will make the banks disappear, but it may make the banks evolve, but they will not disappear. For me, both Bitcoin and the banks will always exist. Many people rely on banking services which Bitcoin can not provide.

Correct because not all people are bitcoin holders specially the old ones. They are relying to banks for their savings and loans. That's why I think bank will never disappear. Personally I don't have anything against banks infact we have savings in our bank account.

[icoprofits]

banks will stay forever but blockchain will emerge in banking sector and form new banking experience with banks

[8Habits]

banks will stay forever but blockchain will emerge in banking sector and form new banking experience with banks

you are right mate. bank will be here for too long and even in the event that cryptocurrencies will rule over fiat money, banks will for sure make way to be still on the scene catering cryptocurrency holders

[fanita]

bitcoin can do anything to disappear the bank or make it disappear, but bitcoin will not do it because many people using bitcoin still need a bank to do its finances. it will probably make the bank disappear after bitcoin gets its way out, the change will happen when the bank does not receive bitcoin. now there are banks that have cooperated with bitcoin and therefore bitcoin will not wipe the bank out of this developed world.

[Becase]

bitcoins are a currency while banks are financial institutions. there is a huge difference between these two.
bitcoins can not replace anything but can form their own identity and depending on their adoption,
people may prefer using bitcoins over other forms of currencies but still banks would be in operation.

[Wish 107.5]

Banks will never be replaced by bitcoin. Government will never allow it. But banks will surely upgrade its technology.

Is Bitcoin has a potential to make banks disappear? Well for me, Bitcoin is not powerful enough to make Bank disappear. Like what you have said, it cannot replaced the banks. Government officials will not let it to happen because if it will happen, they don't have any control to Bitcoin. They can't interfere between the two users of Bitcoin. Furthermore, Bitcoin may gain popularity as Banks.

[ms.moon]

banks will stay forever but blockchain will emerge in banking sector and form new banking experience with banks

Is bank of digital currency?