Can Bitcoin make Banks disappear?

[praprata]

With the existence of bitcoin people have started to say that banks are useless, I don't agree as banks are also important for individual and businesses, as businesses are totally dependent on the banking system and they will need support from banks for sure, for an individual I believe bitcoin is a better option.

I do not think frankly. Banks are in fact very important to the economy and people.
Many people do not even know what Bitcoins. So many people just use their own money, like US Dollar.

[el-magnifico]

I don't think that will happen anytime soon, BTC is a currency of the future but taking over place of the real currency of the world that is pretty structured currently won't be a short-term project if BTC could overthrow fiat at anytime.

[koshgel]

I don't think that will happen anytime soon, BTC is a currency of the future but taking over place of the real currency of the world that is pretty structured currently won't be a short-term project if BTC could overthrow fiat at anytime.

Not anytime soon is right. According to Google, "The history of banking begins with the first prototype banks of merchants of the ancient world, which made grain loans to farmers and traders who carried goods between cities. This began around 2000 BC in Assyria and Babylonia." If its been around that long, it would take a few thousand years to get rid of it.

[tbterryboy]

I don't think that will happen anytime soon, BTC is a currency of the future but taking over place of the real currency of the world that is pretty structured currently won't be a short-term project if BTC could overthrow fiat at anytime.

Not anytime soon is right. According to Google, "The history of banking begins with the first prototype banks of merchants of the ancient world, which made grain loans to farmers and traders who carried goods between cities. This began around 2000 BC in Assyria and Babylonia." If its been around that long, it would take a few thousand years to get rid of it.

May be wiping out may take thousands years. But outperforming may take place within this decade itself. Bitcoin will surely beat dollars by percentage of usage and volume very soon.

[Wobberdk]

I don't think traditional banks will disappear, because they could just adapt their business model to this new reality. What is going to disappear for sure is their abuse of power and the massacre they do with ordinary people on exorbitant interest rates...

[DeDordtenaar]

I don't think that will happen anytime soon, BTC is a currency of the future but taking over place of the real currency of the world that is pretty structured currently won't be a short-term project if BTC could overthrow fiat at anytime.

yeah true, bitcoin golden age a new start to begins, it is impossible not to be used in the near future

[stadus]

I don't think traditional banks will disappear, because they could just adapt their business model to this new reality. What is going to disappear for sure is their abuse of power and the massacre they do with ordinary people on exorbitant interest rates...

The banks can just use the bitcoin as well as the old fiat. There is nothing to prevent them from doing this.

[TastyChillySauce00]

Can Bitcoin make Banks disappear?
this is near to impossible bruh when bitcoin adopter still use bank service to withdraw their btc to their own currency

[dupeddonk]

Not if its a muggle miner.

[equilibriator]

I don't think that will happen anytime soon, fiat and banks are a must in the current economical system

[Astargath]

If you say just one or some banks maybe yes. but if you say entirely bank in the world would disappear because of btc I think it is not possible
some country even forbide the circulation of btc. how can bitcoin affect the bank in that country

Well only like 2 countries have forbidden bitcoin entirely so obviously so far most banks/countries do not care about bitcoin, it is possible in the future like 100 years but obviously not now. If everyone starts using cryptocurrencies then yes banks will eventualy disappear because we wouldn't need them.

[Altynbekova]

I think that can not happen. Is is very important to the people.

Every man must of course have cash in case of emergency. And cash is also a property of someone.

Many people do not even know Bitcoin and do not even know what it does.

[prtty2gal2]

I think that can not happen. Is is very important to the people.

Every man must of course have cash in case of emergency. And cash is also a property of someone.

Many people do not even know Bitcoin and do not even know what it does.

No I don't think so. Banks will be get replaced by bitcoin ecosystem. Because, bitcoin provides the banking facility to all the people regardless of their financial situations. But, banks provide only based on our finance status.

[shiryu]

No i dont think so, bank will not disappear because who people using bitcoin still withdraw their bitcoin to their bank account.

[Imoote]

No i dont think so, bank will not disappear because who people using bitcoin still withdraw their bitcoin to their bank account.

Yes, you have a point, that the actual bitcoin and bank mutual benefit of each other.
But perhaps bitcoin can be rivals from other banks.

[romero121]

Can Bitcoin make Banks disappear?
this is near to impossible bruh when bitcoin adopter still use bank service to withdraw their btc to their own currency

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

[Newcoins2020]

I think that's going to happen later but that will not happen now I guess.
You never know what will happen. It could also be that Bitcoin no longer even exist later.

Predicting the future is very difficult. I think most surely prefer a bank.

[mickiya]

Can Bitcoin make Banks disappear?
this is near to impossible bruh when bitcoin adopter still use bank service to withdraw their btc to their own currency

The banks will also adopt bitcoin and provide service based on the bitcoin. Banks will always make profit.

[jchst]

i do not think btc can destroy the current economical system, that would need much more in my opinion.

[LinaMay]

Not exactly. 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.