Can Bitcoin make Banks disappear?

[abutingting]

Definitely not. Banks is established as the first gateway of conventional money. Bitcoin might just be a bridge to some Banks to earn much more as on how they will plan to gain profit from it to continuously.

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[BORDS]

as of now with the trend that we are experiencing in cryptocurrency i don't believe that bitcoin could make bank disappear in the near future.
there is a possibility though but it may not happen in our lifetime.
in order for banks to disappear there must be a huge number of people using cryptocurrency as their only means of doing transactions.
but as of now we are not seeing it yet therefore banks will still remain for a long time.

[kempess]

if a government using blockchain to record all kinds of the form of the agreement or transactions, would be impossible for someone to do the action of corruption,No single computer is capable of altering transactions already recorded in Blockchain, so "smart contracts" using this technology can pinpoint and pinpoint where their money flows-which will be a much better form of accountability than they are today . A company will not be able to falsify its account. All remittance transactions from government agencies will be recorded.

This system can also have an impact on the current central bank system, said a minister from the British government. Speaking to Wired Magazine, Minister Matthew Hancock said that "in a country where a currency needs a central bank to regulate its circulation in order to manage the country's economy, the central bank is definitely needed ... But most importantly, when people can already pay each other in currency which are not connected and fixated on the geographical location of a particular country, then the need for central banks will also be reduced.So we can come to the conclusion with the word "could have happened"

[Gis15]

I think banks will not disappear.
They can change or can work with bitcoins.
but they will never disappear as fiat will never disappear too.
If fiat comes to the point that has no use already,
then thats the only time that banks can disappear.
But as i have said, its impossible.

I really like your view, it seems the bank will remain there, over time maybe later the bank will work with bitcoin, to facilitate us to transact digital money (bitcoin) that we will see later.

[s31joemhar]

The banks and bitcoin has a good raltionship as of now since they need the services of each other.
The thing is sooner or later they will become a big rivalry since the bitcoin has a great performance and many expert sees their potential to dominate in this world.

[zitbau]

I do not think so . Bitcoin is not strong enough to overthrow the banks. Banks are also supported by the government, and this is where traditional coins are kept. I think bitcoin development is still better today. Perhaps the bank will accept bitcoin

[Samsungnumbertwo09]

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?

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...

[bigblackdeck45]

I believe that would be quite hard to achieve. Banks wether we like it or not are here to stay. Even if crypto will be the main currency. Banks will find a way to adapt to the change without us noticing it.

[Thadeous]

Don't forget about Crypto banks. This is very new branch of Cryto economics, and in few years Crypto banks may hold sufficient part of world Crypto cap.

[laracastvue]

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.

I do agree on your statement, Banks wont go away because there will be a lot of people who are going to be affected, But bitcoins will really affect the society since more people will invest on it rather than placing their money in the banks and government will be also greatly affected.

[kralnewb]

I don't think it will going to happen because not all of the people know what Bitcoin is and not everyone knows how to use the computer. If you compare banks and Bitcoin they were the opposite of each other so why make banks disappear?

[princesspoppy]

As long as people uses fiat money, and not all people know and have knowledge about bitcoin, banks will never disappear.

[Creating N Action]

It is not true that bitcoin can make banks disappear even there are many people using banks than bitcoin. No one can disappear the banks  unless you are the most powerful man in the whole world. Not all the people use bitcoin for transaction of their money that's why I don't believe that bitcoin can make banks disappear. It will not happen because at the end of the time, banks is the one that we need for transaction of our money and this is one of the thing that help us to make a money. We used banks when we cash out and also we use it for gaining our own money

[ashish86marwaha]

Hello
Not Bank will not disappear as soon it will take decades.
But monopoly of banks will disappear soon.
Thanks

[hula hula]

well, what do you think? bitcoin will not make the bank vanished. because the bank has a guarantee of protection from the state.

[ashish86marwaha]

It will, But takes its time.

[cryptokudi]

Well said the bitcoin may bring some changes in the banking sector but it won't make banks disappear. Even even though we trust bitcoin but finally we are into banking to withdraw dollars. Soon the transaction through banks might get reduced when a lot of users get involved in bitcoin.

[cryptopusa]

No that impossible,banks are here decades ago and BTC is just starting maybe after hundred years banks will disappear together with the government.

[EVYFZ]

Nothing will prevent the development of all. And bitcoin and banks exist.

[zeaderza]

BTC cannot challenge the status of Banks, so Banks will not disappear.And BTC is no longer able to replace every country's currency, which is a new virtual currency.In the future, the development of virtual currencies should continue to grow.

If we only consider bitcoin then it will be really difficult for a alone entity to eliminate banks but now we have many alternative coins due to which the digital currencies have become a threat to the banking system. It is a fact. Digital currencies are better than banks and their usage is also increasing rapidly.

However, banks are also smart. They have started to accept digital currencies like ripple is famous for this. So banks are not going to disappear rather their ways will be changed.