Can Bitcoin make Banks disappear?

[wikenpp]

I dont think that will happen. I think that the most people just need the normal banks. Some people doesnt even know that Bitcoins exist.
I hope later that more people will get to know about Bitcoin and that more people will use it in the future.

[youdamushi]

Sadly enough I'd say no...

Though it was made in this goal, people on this forum are already asking if there is a btc bank so --'

[blackmachinegun]

I think the bank is not a problem for bitcoin nor a competitor that should be removed. I might say that the bank and bitcoin are two different things, bitcoin is a currency, in contrast to bank

[mrflibblehat]

Bitcoin and banks are two really different things that deal with different money, so there's no threat really for that,

[Yakamoto]

Sadly enough I'd say no...

Though it was made in this goal, people on this forum are already asking if there is a btc bank so --'

Well banks and Bitcoin both have their own place in society and neither one can replace the other. Banks will be used as a way of storing and saving fiat money as well as getting a loan, and Bitcoin will be used as a method of storing large amounts of wealth that can be transferred fairly easily.

[matete]

Sadly enough I'd say no...

Though it was made in this goal, people on this forum are already asking if there is a btc bank so --'

Having a btc bank will take us back to the stone-age era. The idea behind bitcoin is to have a decentralized system where there is no direct regulation and manipulation by the authorities.

[adamstgBit]

crowdfunding and peer to peer lending

this is what will kill banks

bitcoin will facilitate this, poeple won't loan / barrow BTC, ( thats just crazy seeing how price swings are wild, and bitcoin is deflationary ), But they will use the BTC highway.

its going to take time, and more adoption, but it appears to already be happening

poeple are refinancing loans, by leveraging the "BTC highway"

check this out: https://btcjam.com/listings/55943-credit-card-refinancing

its a tiny market right now, but the idea is good, i think this can really work on a larger scale.

[ajun96]

Bitcoin and banks are two really different things that deal with different money, so there's no threat really for that,

really agree with you, bitcoin and bank is diferent. they can not be compared directly. especially if both are equally alive, they will not bring down each other, I would be happy, if the bank in cooperation with bitcoin. it could have been done

[Pattart]

Nope. all people will need bank.
how important it is when one large people such as George Soros pull all their money out of the bank, the currency of a country could be faltering you know

[talkbitcoin]

Bitcoin and banks are two really different things that deal with different money, so there's no threat really for that,

really agree with you, bitcoin and bank is diferent. they can not be compared directly. especially if both are equally alive, they will not bring down each other, I would be happy, if the bank in cooperation with bitcoin. it could have been done

but the thing about bitcoin is that you can be your own bank and not need anybody else to keep your money safe. but there are some benefits of banks like the profit they give on your money, giving loans, etc which makes them different.

[redsun114]

Bitcoin and banks are two really different things that deal with different money, so there's no threat really for that,

Practically I do not see any difference between bank account and my bitcoin wallet. Not in quicker time, but slowly people will understand the truth and no need of traditional banking system while we are having bitcoin ecosystem to bank with.

[mickiya]

Nope. all people will need bank.
how important it is when one large people such as George Soros pull all their money out of the bank, the currency of a country could be faltering you know

I think the big investors do not need the bank, they have places to invest their money. Ordinary people need the bank.

[russian_pete]

Crypto hippies with their head in the clouds that don't know about finance, economics etc. That assertion relies on FIAT vanishing. As long as FIAT exists Banks will exist. Fiat is not going anywhere ! Maybe in 50 or a 100 years but now that is so far off it doesn't even matter. We might as well be talking about teleportation & flying cars. Many people don't even have a bank account.. or a Computer or cell phone. I hate to break it to you 1st world problem guys but the reality is much of the world is poor and will never ever have the reasonable means to use electronic devices that Bitcoin relies on. And there is no way a digital currency that relies on the Internet being up and powered with electricity 24/7 forever can replace REAL tangible hold in your hand currency. Banks exist to "handle" money ..real money ! REAL Money is not going anywhere. You people are delusional cheerleaders.

[fair_player]

Weel, many people have cash that they need.  Some people do not even know what Bitcoins.  Anda lot of businesses need the credit or lending from the bank, whitout bank a lot of businesses would not exist. Sad but true, most of the people in almost every country  is still dependent on fiat and they know what to do with it and how to run it, but bitcoins, they may know this, but still they are more interested on fiat, so they really need the bank. Actually this has always been the way. the traditional ways of living are hard to change, people tend to stick to those familiar ways and not be willing to change it unless something really beneficial comes along that makes it easy to switch. but bitcoin is not at that stage yet... 

[xhomerx10]

Apparently Bitcoin can make banks appear!  Insured banks nonetheless
NB Caution - seems like a scam.  A normal bank lends out the money it has on deposit which might even come back to the bank as a deposit to be lent out again... and again and again (fractional-reserve banking).  In effect they are creating the money supply - this is not possible with Bitcoin as it has a finite supply and is limited to 25 new coins every 10 minutes (at least until July).  You can't simply print up new Bitcoins to feed such a system.  A Bitcoin bank (in the traditional sense) is not a sustainable entity.

 That being said, traditional banks are not going to disappear.  They are needed to increase the money supply; at least until the entire monetary system is revamped.  The Bitcoin movement is not organized enough or large enough to accomplish that.  It is a wonderful niche however.

[CryptoBjorn]

Nope. all people will need bank.
how important it is when one large people such as George Soros pull all their money out of the bank, the currency of a country could be faltering you know

I think the big investors do not need the bank, they have places to invest their money. Ordinary people need the bank.

I do not think that is possible. Many people need normal banks. Because older people do not even know what Bitcoin is and that is the problem.
I think there will be less bank in the future. But there will be a couple banks. The online wallets is indeed very good.

[jethrorn99]

Well, that could only happens if Fiat money is gone completely.

That is almost impossible.

[gregyoung14]

Nope. all people will need bank.
how important it is when one large people such as George Soros pull all their money out of the bank, the currency of a country could be faltering you know

I think the big investors do not need the bank, they have places to invest their money. Ordinary people need the bank.

Exactly. And majority of the population will always be "ordinary" people. BTC will be taken seriously sooner or later. But i dont think it will come to a certain extent that it will be the only currency system there will ever be.

[NewInCryptoCurrency]

I dont think that it can happen. Many people doesnt even know what Bitcoin is.
And people need some normal banks too. They dont know the online wallets.

[youdamushi]

Nope. all people will need bank.
how important it is when one large people such as George Soros pull all their money out of the bank, the currency of a country could be faltering you know

Why? Why would people need banks???
With btc you can store your money safely so why would you need a bank?