Can Bitcoin make Banks disappear?

[chikading2016]

Their is a big possibility bitcoin can eliminate or make banks disappear. It is the power of bitcoin and also the support of all bitcoin users. It is a good news if it will happen many people can easily bring their own money just using their cellphone or other gadget that can connect in digital world. This might be a big impact to bitcoin world.

[criptoturk]

It can be a result of the globalization. Because we needed banks and It is created because of our financial need. Now many of us use cell phones as a bank office. In very near future banking system can be disappear or they can be convert as a coin bank

[real_links]

I don't think so. Banks will do their job. It will only now be accepted. And also banks will be a means of correction maybe in your wallet

[Kanda Yu]

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 that is so near from happening. Banks and bitcoin are actually in good terms right now. The transactions and convertion of bitcoin into fiat money. Maybe somewhere in the future, bitcoin will replace all the banks for the convenience of everyone. As time passes by and as bitcoin innovates, the chances that bitcoin will replace bitcoin will increase.

[Vermilion-]

Bitcoin can't make the banks disappear they will always be around because people will always need a place to get loans from and I don't think Bitcoin is a great way of taking out loans either.

[Saritamo]

I think banks will not disappear due to bitcoin but their role will be smaller, they will also adapt to the new technology in order to survive.

[Sand King]

Bitcoin shouldn't make banks disappear. Maybe banks will change and they will adapt to bitcoin in order to work together

I dont really think that bitcoin can make banks dissapear, because banks is running in thid world for a log time and all people in this world is know banks and  bitcoin can not make banks disappear because a lot of people is trusted and know banks unluke on bitcoin.

[jayco25]

It is often said that the time will come when the bank will lose it will not happen. We know that bitcoin moves and other altcoins are not stable and that's what other people do not want. Others prefer even less interest in the bank than altcoin and bitcoin who are unsure of the increase in money and have the chance to lose. Perhaps they will also use digital currencies but the Bank will lose it as saying that there is no FIAT.

#Datarius

[rapwindsoul]

In my own opinion, the banks will never disappear. Fiat money is still good for low-cost transactions, as crypto transaction fees now are still high. But cryptocurrency may overtake fiat money in the future in terms of usage.

[Nylelyn]

Bitcoin has some fascinating ways that can be similar to banks but not everything.  Banks are institutions and is operating under the regulation of government. Therefore,  I believe that it will not disappear because many people still have very high trust in banks because money is insured like for up to PHP500k under PDIC here in the Philippines. Babks also offers other services such as loan applications they offer.

[xamil]

I can't imagine that it will happen someday because bitcoin is not yet accepted in many countries and there are many people who do not know bitcoin. Maybe its better if bitcoin and bank will join forces so that bitcoin will spread easily and more investors will have interest.

[Kodok Bencot]

It is unlikely that Bitcoin will destroy the banks. The world economic platform has always been an important place of banks. The banks moved against Bitcoin last year. In 2018, we see a different attitude.

Many banks shares are state-owned, so the state will do anything to protect the bank will not disappear, and I'm sure that if someday the bitcoin marketcap is so large the banks will receive bitcoin.

[Mickznet]

I't not my friend, the bank will never disappear even if the bitcoin value is too high or in demand, the bank's services will not be lost anywhere where ever country you go. Because it is the safest way.

[CONOFLEX]

Bank will not disappear  because you cant do everything with btc yet,in our country you  can get bond loans for a house ,you can make loans like a study loan and personal loans and much more.on the end of the day  btc is a long term prosses if you start small with btc,but you can pay your loans faster with btc.

[Duzenn]

If the bank does not for bitcoin to cause alarm, so I think in a few years bitcoin and blockchain will replace the bank, because if the bitcoin can become an international currency, so there is no need for the bank.

[armandoz]

There is expeculation and possibility to happen that's  is why the bank now thinking how to get involve in bitcoin. Disappearance in simple way not happen it will be another option for investment. if the the bitcoin will down or up there is other money secured also in the bank.

[Sar elok]

Only banks that small capitalization or not partnering with the FinTech will die. I think it was just a marketing strategy to get what they want (create a fear of banking)

[Mariela]

I think no.
Bank is uses by majority of people all over the world
They use bank as a way of preservation of their wealth or money.
So it is impossible to eleminate the bank over bitcoin.

[gabbiee]

If everyone in the world uses bitcoin and blockchain  old-style banks may not be needed  but it is a very long process. In the meantime, its will renovate itself in the banks and change, i think its will make appropriate transitions by giving up banking in the classic sense of the known.

Yes it is possible but it won't be happening in the near future, you're right it involves a very long process. While they still don't have any solutions for that matter governments are starting to ban bitcoins in some country to prevent this from happening. They are protecting the banks in the way they know they're going to be benefited.

[chim_brisss]

Governments will try to regulate cryptos... some successful, some not. The banking and finance industry are about to be changed forever... and this is only the beginning.