Can Bitcoin make Banks disappear?

[Imoote]

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.

Yes, and in fact the people who are still bitcoin exchange it at the bank, and I still do it.
Maybe it's proof that bitcoin and banks still need each other.

[hasiramasenju]

nope bitcoin cannot make banks disappear because The banks is legal and acclaimed by government as the depository institution of money but bitcoin is not and we already know even in some countries bitcoin is illegal

[hendra147]

Bitcoin Could Create 'New Monetary Order'
http://www.coindesk.com/bank-of-canada-chief-bitcoin-monetary-policy/
i think in future bank can adopt bitcoin, but bitcoin still make bank dissapear
because bitcoin give acces like you have own a bank

[blackmachinegun]

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.

i think no, bank already assume that bitcoin is their competitors, impossible bank will hold their bitocin as a partner, it will make the bank increasingly pressured

[wikenpp]

I think that that could happen. But everyone does need banks.
Because many people also want to save their cash because they know Bitcoin disagree.

[randchingo]

I don't think so, Banks are still the base of the current economical system and people would still need USD ability to exchange bitcoin to it and use it in local transactions.

[Bitcoinbro]

I think that can not happen.

I myself think that Bitcoins are indeed bigger.

But it can not disappear banks. But we'll see later.

[RariBest]

i think not but bitcoin can for sure work in parallel whit fiat

[mickiya]

I think that can not happen.

I myself think that Bitcoins are indeed bigger.

But it can not disappear banks. But we'll see later.

Banks will adopt bitcoin and provide service related to bitcoin if bitcoin becomes bigger. I trust banks more than Bitpay.

[busybee7]

naah i dont think so, it will never make banks disappear as people will always use fiat better than bitcoins

[quadriple7]

If lots of people will choose bitcoin system i suppose it can but i dont think it will happen soon.

[ctlaltdefeat]

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?

not i dont thnk it will happen,at least on five year later,as long i know about bitcoin,never heard bank introducing and consider bitcoin as their commodity,so far its never happen,so i think 5 year later will not happen,bank is not dissapear because bitcoin.

[HarryKPeters]

I do not think that could happen especially because the world is very large. Many people do not even know what Bitcoins are not they also know how to use them.
So I think that's not going to happen. Because people need cash.

[Zeke2345]

Banks are here like Africas birthrates exploding,they are not easy fixes and will continue to blight our daily lives.
Till we can eliminate greed and exploitation we are doomed for a bleak exsistence.

[takingthis4]

i really doubt this idea, bitcoin will never get that popular in order to replace the banks

[Oscoda]

Yeah, I guess that can happen especially because Bitcoin is increasingly used.
It is in fact becoming increasingly popular and worth a lot more so I think it can.

[Bitcotalk]

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.

Banks and bitcoins are two different things, banks are not money/currency which will compete with bitcoin, nor bitcoin is an organization for maintaining financial affairs of the state or a place to work with currencies. The reality is that bitcoin itself is a currency which require the services of banks.

[dothebeats]

Yeah, I guess that can happen especially because Bitcoin is increasingly used.
It is in fact becoming increasingly popular and worth a lot more so I think it can.

Those two things themselves aren't enough to make bitcoin replace the traditional banking scheme. First off, many governments around the world are kinda iffy about accepting the trades and sales made with bitcoin while on the other hand, the gov't supports banks in their schemes.

[RealBitcoin]

I dont think it can, because banks are predominantly LENDING institutions, and that is how it should be.

I think banks should resume their old business area of lending, and not holding your checking account, that should be under your control.

But in a bitcoin economy, they can still lend your bitcoins.

[wearepoor]

Its not possible at this moment or in the coming decade, banks are globally trusted by the people whereas people are still hesitating to use the bitcoins in the daily routine transactions as they dont have enough knowledge about bitcoins and also there is lack of trust. It will take some more time to be a popular currency among the people.