Can Bitcoin make Banks disappear?

[CRYPTOBEX]

Very likely, when all transactions can be done by yourself without any bank will certainly make the banks deserted and slowly can close the business. I'm sure if everyone using bitcoin, then the bank will close automatically but no time soon, because the user has not been much bitcoin.

[1714939776]

1714939776

[1714939776]

1714939776

[1714939776]

1714939776

[1714939776]

1714939776

[weblaraveluser]

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 will not disappear even the nations will become a cashless country because there are a lot of people who already invested on banks when bitcoins does not exist before at the first place. People will still use banks no matter what happen but they will earn less investors when bitcoin dominate the market.

[xamxam]

I don't think so, because banking is have their own use and advantages and function. There are many uses that cryto currency is hard to replace it but surely the bitcoin in the guture has there own banking or atm card where as the user will easily use the bitcoin in their daily living.

[ungongbuotan]

I dont think bitcoin can make banks disappear. Wether we like it or nit banks are here to stay. I believe that when crypto become world wide accepted, banks will just evolve and cope up with the change just like what we do when things change.

[Hmei777]

I think not because everyone needs a bank, even though there is already a bitcoin but we also need cash for certain moments to take the money we have to go to atm bank. hopefully they can work together.

[CryptoHawkAG]

The conventional banks will adopt the new environment and blockchain payment processing, they can save lots of money.

[supermam]

Bank will not disappear in favor of bitcoin because they have already established their position in the industry and one thing more almost all transactions are done through banks so no fear banks will not disappear.

[wiro 212]

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 not make banks disappear, banks will continue to exist because people will still need banks for loans or saving.

[GiantArrow15]

I think banks will not disappear. They will somehow find ways to upgrade, for them to offer services for bitcoin. But for now, they cant control bitcoin.

[senin]

It is in an ideal society that it could be so that bitcoins or other crypto-currencies are used as a single payment method and then banks would become simply unnecessary and disappear unnecessarily. However, we know that ideal society does not exist. Moreover, the society, in this case, must unite in a single economic system. In our real world, this is impossible. Within the framework of a single country, this is also unlikely to be achieved. If we only go on using crypto currency and destroy banks as a financial instrument of conventional currency, it means making the economy completely open to other countries and exposing it to the influence of various negative world factors. And how then to plan and manage the economy with such great volatility? No, I do not think banks will disappear in the foreseeable future.

[Ravenangel]

I think no. Bank is an intermediary that needed in business in their everyday transactions so bank is indeed important. Bitcoin may do what bank is processing but it has a limitations. There are a lot of transactions via banking operation in the world that only banks can do but bitcoin cannot since it is not yet recognized around the world. Bitcoin is still has a long way to run in the business. It can be applicable to some businesses but not all. But who knows in the near future what BTC can do, it may become an intermediary to the business world.

[acell101]

No, I doubt it because banks is far different from bitcoins.  Bitcoin can be accessed and obtained by anyone with access to the internet and not everyone has an access to it so it does not cater to the needs of the general public. Banks are present to safeguard customer’s cash holdings at a given time and lend them to those in need to collect revenue in the form of interests, that involves a central authority catering to needs of the public.

[Markpet01]

No,i doubt it because banks is far different from bitcoins.Bitcoin is manage by internet but banks manage by people.

[desklamp]

Yes i think so, that's why government and banks tries to ban bitcoin in their country so they dont obsolete. They know that these days many people are using bitcoin because it was so convenient in terms of making transaction no papers needed, no additional fees, and the best in bitcoin is no middleman needed.

[Pedro18]

For me it's not totally, because some people are much comfortable using bank or using fiat money, we can't force people to user cryptocurrency, we should respect them and also accept their own opinion about cryptocurrencies.

[Louie6789]

I would like to see that happen, disappearing of banks sounds great. But unfortunately that will not happen. For me its hard to predict what will banks do about and with bitcoin but for sure they have some plans.if alot of people learn about bitcoin and see what it can do, thers a very good possibility it can take over banks, but even if that happens im guessing tons of people woudlnt want to switch to bitcoin from their bank accounts.

[Ebihsu]

It is very difficult to make banks disappear, and we still need the fiat money to meet our daily needs. And for now bitcoin ia more like investment than currency.

[Elijah1980]

Government also make their transactions so transparent. It would be easy to identify the right party.  Bitcoin should replace bank's place in future.to less people know about bitcoin and hard to understand for some people and im sure one day the would understand and change to more good things just like bitcoin..

[sekapai]

I think bitcoin and fiat money will live together. Bitcoin can   surpass the fiat money for everyday usage but it will take more than  50 years from now.

[Theodore19]

We're going to need several different ways of Bitcoin hitting an end in terms of being none as its own currency. Right now, it just seems like an investment, and not really a currency.Because many people also want to save their cash because they know Bitcoin disagree.