Can Bitcoin make Banks disappear?

[Ace_Of_Fades]

I believe that eventually bitcoin banks will emerge. The whole concept of decentralization will be flushed down the drain. Here's why. So far the blockchain is 50 gigs and it's growing at an exponential rate. In order to have a bitcoin wallet, users must download the whole blockchain. What's going to happen when the blockchain is 1TB? Users aren't going to be able to have personal wallets. Instead, people/businesses will host the blockchain in data centers and users will have to hold their coins in a third party wallet. Hence, bitcoin banks.

[Marc_JB]

I guess that would be a very long process. No bank will want to die because of bitcoin (which doesn't need any bank as you know). So i guess banks will just try to stop bitcoin from emerging further.

[jokerrj]

I guess that would be a very long process. No bank will want to die because of bitcoin (which doesn't need any bank as you know). So i guess banks will just try to stop bitcoin from emerging further.

Yes, banks are facing a really very tough competition from bitcoin at a moment, and they are aware if bitcoin gets on mainstream that would be an end of banking system and that's the reason they are not supporting bitcoins.

[panju1]

I guess that would be a very long process. No bank will want to die because of bitcoin (which doesn't need any bank as you know). So i guess banks will just try to stop bitcoin from emerging further.

Yes, banks are facing a really very tough competition from bitcoin at a moment, and they are aware if bitcoin gets on mainstream that would be an end of banking system and that's the reason they are not supporting bitcoins.

Tough competition from bitcoin at the moment? What are you smoking?
There is potential for Bitcoin to be a rival to banks, but at this moment - there is nothing.

[DeDordtenaar]

I think people will still using Banks and banking services because it's needed nowadays and Bitcoin still need more usability to replace it

it would be different if the bitcoin has been widely received by many people. of course we need now is bitcoin wallet not bank

[MaxTax]

I guess that would be a very long process. No bank will want to die because of bitcoin (which doesn't need any bank as you know). So i guess banks will just try to stop bitcoin from emerging further.

Yes, banks are facing a really very tough competition from bitcoin at a moment, and they are aware if bitcoin gets on mainstream that would be an end of banking system and that's the reason they are not supporting bitcoins.

Tough competition from bitcoin at the moment? What are you smoking?
There is potential for Bitcoin to be a rival to banks, but at this moment - there is nothing.

That can not happen. And that is not good. But you never know what can happen in the future. But I think of course Bitcoin will be more popular.
But yeah some people doesnt even know what Bitcoin is, so it would be difficult to disappear the banks.

[iamthesky]

I guess that would be a very long process. No bank will want to die because of bitcoin (which doesn't need any bank as you know). So i guess banks will just try to stop bitcoin from emerging further.

Yes, banks are facing a really very tough competition from bitcoin at a moment, and they are aware if bitcoin gets on mainstream that would be an end of banking system and that's the reason they are not supporting bitcoins.

Tough competition from bitcoin at the moment? What are you smoking?
There is potential for Bitcoin to be a rival to banks, but at this moment - there is nothing.

That can not happen. And that is not good. But you never know what can happen in the future. But I think of course Bitcoin will be more popular.
But yeah some people doesnt even know what Bitcoin is, so it would be difficult to disappear the banks.

That's the main concern that majority of people are not aware about the bitcoins, and that is stopping bitcoin to get on the mainstream, but banks have good future too, I don't see it going anywhere.

[diodio5]

I guess that would be a very long process. No bank will want to die because of bitcoin (which doesn't need any bank as you know). So i guess banks will just try to stop bitcoin from emerging further.

This is not a competition which each other down. banks will not die because bitcoin. and the bank will not try to stop bitcoin, you're seeing now. bank never interfered against bitcoin

[bennasilbuyukadamolucam]

I don't think it can for now at least. Banks provide services for long years no matter what.

[harizen]

Can Bitcoin make Banks dissappear?

It's clearly will not happened I swear. The people behind bitcoin created this kind of crytocurrency not to replace and eliminates banks.

Without doubt, banks today are really a useful one why other countries has the ability to buy, sell and convert their bitcoin to fiat.

Here in my country, without banks services, I really found it hard to convert our bitcoin to fiat even there's a lot of option.

yeah because initially the creator of bitcoin. make bitcoin as an option on the currency. not to replace.

but did not rule out the possibility. if we do not need to convert it to a fiat. because bitcoin is already widely accepted by many merchants. so you can immediately use it without the help of banks?
it could happen

I get your picture here.

But my point here is in global cases. Remember that physical stores are not that available in third world countries even some of them accepts a direct payment in bitcoin. Even accessing online stores will having a hard time to those people living in a really far away to urban areas because of internet connection.

If bitcoin will replace banks, yes we can see the advantages and benefits but how about those people in lower community?

[Newcoins2020]

No I do not think this is possible, banks are just to big to win from, the banks want to destroy the bitcoin completely.
The banks only want the system behind the block chain, I really hate it but I think the bitcoin still has a chance to win but it will be a long journey.

[buddycool]

May be yes May be no..
No because, banks provide paper currency which we can use in local shops where cards are not accepted...
Yes, because in case if everyone world wide use btc cards for transactions  maybe it is going to be possible for the banks to disappear....

[tommorisonwebdesign]

I guess that would be a very long process. No bank will want to die because of bitcoin (which doesn't need any bank as you know). So i guess banks will just try to stop bitcoin from emerging further.

Yes, banks are facing a really very tough competition from bitcoin at a moment, and they are aware if bitcoin gets on mainstream that would be an end of banking system and that's the reason they are not supporting bitcoins.

Tough competition from bitcoin at the moment? What are you smoking?
There is potential for Bitcoin to be a rival to banks, but at this moment - there is nothing.

That can not happen. And that is not good. But you never know what can happen in the future. But I think of course Bitcoin will be more popular.
But yeah some people doesnt even know what Bitcoin is, so it would be difficult to disappear the banks.

That's the main concern that majority of people are not aware about the bitcoins, and that is stopping bitcoin to get on the mainstream, but banks have good future too, I don't see it going anywhere.

And that's why Bitcoin isn't going to replace banks in the near future. Not enough people know what a Bitcoin is. I've had to explain to several people IRL the concept, and then they don't trust the concept.

[aakashsangwan]

This is the Question which is asked very soon, as their is not a 20% of the users in the world that know about bitcoins, leaving some country other even did not legalized the bitcoins in their country. So first Bitcoin have to been accepted by the world then their will be real revolution in Bitcoin and even then i think Bank wont disappear but ya Bitcoin will be also added in the Process.

[ultimatesky]

This is the Question which is asked very soon, as their is not a 20% of the users in the world that know about bitcoins, leaving some country other even did not legalized the bitcoins in their country. So first Bitcoin have to been accepted by the world then their will be real revolution in Bitcoin and even then i think Bank wont disappear but ya Bitcoin will be also added in the Process.

Well the bitcoin revolution already started. You can see more companies and money come in every day. Remember the cap is almost 7 billion.
This is amoun of money is not just from people we 'like bitcoin.'

[fruitcommander]

Banks will always be on top and that would be the primary option of the people, many people will start using bitcoin, but as a secondary one, as banks are also important for business transactions.

[michnelli6]

Banks will always be on top and that would be the primary option of the people, many people will start using bitcoin, but as a secondary one, as banks are also important for business transactions.

Yes, bitcoin will provide alternative banking facility to all the people within their computer or mobile. When you need not to visit your bank, I mean when there is no need to avail any services from your bank, banks will start to die.

[rickadone]

Banks will always be on top and that would be the primary option of the people, many people will start using bitcoin, but as a secondary one, as banks are also important for business transactions.

Yes, bitcoin will provide alternative banking facility to all the people within their computer or mobile. When you need not to visit your bank, I mean when there is no need to avail any services from your bank, banks will start to die.

But bank has many functionalities, I doubt bitcoin will fulfill all of them. Maybe in future with the new innovations bitcoin can work with all the facilities that the bank can provide. Till that banks will survive.

[HarryKPeters]

Banks will always be on top and that would be the primary option of the people, many people will start using bitcoin, but as a secondary one, as banks are also important for business transactions.

Yes, bitcoin will provide alternative banking facility to all the people within their computer or mobile. When you need not to visit your bank, I mean when there is no need to avail any services from your bank, banks will start to die.

But bank has many functionalities, I doubt bitcoin will fulfill all of them. Maybe in future with the new innovations bitcoin can work with all the facilities that the bank can provide. Till that banks will survive.

It cant make them disappear them. That will not happen even not in the future, and I think that is okay.
Many people doesnt even know what Bitcoin is, so how do you want to make the banks disappear.

[jt byte]

Banks will always be on top and that would be the primary option of the people, many people will start using bitcoin, but as a secondary one, as banks are also important for business transactions.

Yes, bitcoin will provide alternative banking facility to all the people within their computer or mobile. When you need not to visit your bank, I mean when there is no need to avail any services from your bank, banks will start to die.

But bank has many functionalities, I doubt bitcoin will fulfill all of them. Maybe in future with the new innovations bitcoin can work with all the facilities that the bank can provide. Till that banks will survive.

That is indeed maybe possible in the future. And it is very hard to say for what is going to happen in the future. You can never know what is going happen.
It is very hard to predict a currency and you should to take the risk if you want to sell it or buy it. But I think it is possible that it can make banks disappear, because it will be more used later in the future.
And that is good for Bitcoin and we also all hope that the value is going to rise for a long time.