Can Bitcoin make Banks disappear?

[romero121]

Banks won't disappear unless someone starts offering Bitcoin loans with no interest rates and as we can see from this forum Bitcoin is a heaven for scammers and frauds.

But banks will not work without bitcoin in future. I think this case also one kind of replacement Banking sector's power from the finance world.

That's not gonna happen even if the Bitcoin is accepted by most of the people of the world. The reason is both are exactly different. Each has its independent method of functioning.

[umaOuma]

Banks won't disappear unless someone starts offering Bitcoin loans with no interest rates and as we can see from this forum Bitcoin is a heaven for scammers and frauds.

But banks will not work without bitcoin in future. I think this case also one kind of replacement Banking sector's power from the finance world.

That's not gonna happen even if the Bitcoin is accepted by most of the people of the world. The reason is both are exactly different. Each has its independent method of functioning.

Both will be important for the people, the one who believes in banks will continue to use it,  no matter where bitcoin reaches in future, majority of the people are more comfortable with traditional banking system.

[jchst]

People has no choise to protect their money,banks has garantee till an ammount backup by the country,bitcoin has potencial but may die soon or later no one knows,soo if i have to choose i would go into both as i consider and believe in bitcoin potencial and i dont wanna banks to keep taking the fee to they lend my money to others ,they should pay me to get my money and not the reverse.

[Mitchow]

I think bitcoin is getting more popular nowadays, but it will need a strong reason to replace banks, as banks are strongest financial institution we have and its hard to believe that any crypto can make it disappear.

[harizen]

Banks won't disappear unless someone starts offering Bitcoin loans with no interest rates and as we can see from this forum Bitcoin is a heaven for scammers and frauds.

But banks will not work without bitcoin in future. I think this case also one kind of replacement Banking sector's power from the finance world.

Really a lol.

Any good facts and basis on how banks will not work in the future without bitcoin?

That is easy to say mate but please take a look at all circumstances. It will enlightened you. Believing alone in the word 'bitcoin' can't really help you to understand other things evolving around that currency. Banks will never dissapear. Not all can hug the bitcoin system.

[knowhow]

Banks won't disappear unless someone starts offering Bitcoin loans with no interest rates and as we can see from this forum Bitcoin is a heaven for scammers and frauds.

But banks will not work without bitcoin in future. I think this case also one kind of replacement Banking sector's power from the finance world.

Really a lol.

Any good facts and basis on how banks will not work in the future without bitcoin?

That is easy to say mate but please take a look at all circumstances. It will enlightened you. Believing alone in the word 'bitcoin' can't really help you to understand other things evolving around that currency. Banks will never dissapear. Not all can hug the bitcoin system.

As we know they are working into their own blockchain they dont wanna bitcoin wanna its technology,maybe later after the financial problems get deeper they can see the light and work with bitcoin,instead of fiat,exchanging the btc into fiat and make real people pays the interest .Soo bitcoin loans will be 99% safe as some people can default the loan.

[Avirunes]

I don't think it will make bank disappear as still there are many user as still bitcoin has lot more to come up. The main part is that in bitcoin world identity behind a btc address is always hidden then how will the loan or lending system work?Also bank gives up interest for saving accounts will bitcoin do? There are manny questions that will rise but atm to answer your question the below quoted post of romero is the best.

Banks won't disappear unless someone starts offering Bitcoin loans with no interest rates and as we can see from this forum Bitcoin is a heaven for scammers and frauds.

But banks will not work without bitcoin in future. I think this case also one kind of replacement Banking sector's power from the finance world.

That's not gonna happen even if the Bitcoin is accepted by most of the people of the world. The reason is both are exactly different. Each has its independent method of functioning.

[funkenstein]

Did dollars make banks disappear?


Hmm.. valuable assets are going to - stop people from being interested in financial services?  Huh?


Not sure where to go with this one.  Too broken from the start. 

Oh wait I know, you are thinking that "bank"  is a word that means "counterfeiter".  In this case, sure, bitcoin will be a thorn in their side as it can't be counterfeit.  But there will always be counterfeiters.  Count on it.  They will just make other things. 

[Imoote]

I think bitcoin is getting more popular nowadays, but it will need a strong reason to replace banks, as banks are strongest financial institution we have and its hard to believe that any crypto can make it disappear.

Yes very true is still the strongest banks and is unlikely to be removed. Bitcoin will not be able to get rid of the banks because the banks is the official institution that should be owned by every state to carry out economic activities. I think if bitcoin might not be able to make banks disappear.

[danherbias07]

No. Banks will always be there. This institution is the easiest way that a person can loan some money. With just a little paper works money will be in your grasp in a blink. It can also be about the trust. The trust of people in banks have been solid now so it will be really hard to make them just disappear.

[MaxTax]

Banks won't disappear unless someone starts offering Bitcoin loans with no interest rates and as we can see from this forum Bitcoin is a heaven for scammers and frauds.

But banks will not work without bitcoin in future. I think this case also one kind of replacement Banking sector's power from the finance world.

Really a lol.

Any good facts and basis on how banks will not work in the future without bitcoin?

That is easy to say mate but please take a look at all circumstances. It will enlightened you. Believing alone in the word 'bitcoin' can't really help you to understand other things evolving around that currency. Banks will never dissapear. Not all can hug the bitcoin system.

As we know they are working into their own blockchain they dont wanna bitcoin wanna its technology,maybe later after the financial problems get deeper they can see the light and work with bitcoin,instead of fiat,exchanging the btc into fiat and make real people pays the interest .Soo bitcoin loans will be 99% safe as some people can default the loan.

It cant be happen. That will be worst for the most people and that is not good. Of course Bitcoin will be more used later in the future.
And that will be very good for Bitcoin and the worst thing that can happen is that the banks will reduce.
But

[tn211]

No bitcoin cannot get banks disappear its just not possible in my opinion, the bitcoin is not even stable right now.
Also the fact is that there are to much people that are depending on the bank.

[SpiryGolden]

If Bitcoin will remain as it is. With the current development team. Bitcoin will be part of banks. It will be a direct asset controlled by banks! Simple as that.

[thesmyler]

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?

Since banks seem to change the way banking is done (from gold standard to fiat) I wouldnt be surprised if they are looking at block chain technology in the not too distant future.

[Ybalevia]

No I do not think this is possible if I'm very honest because the bitcoin is just to small right now maybe its possible in the future.
But the time will learn it because the bitcoin is not to predict of course.

[kacak41]

No I do not think this is possible if I'm very honest because the bitcoin is just to small right now maybe its possible in the future.
But the time will learn it because the bitcoin is not to predict of course.

I agree, and it is never easy to make banks disappear, in future bitcoin will be used more but there are certain percentage of people who would prefer to use banks and not bitcoins.

[Kevin77]

No I do not think this is possible if I'm very honest because the bitcoin is just to small right now maybe its possible in the future.
But the time will learn it because the bitcoin is not to predict of course.

I agree, and it is never easy to make banks disappear, in future bitcoin will be used more but there are certain percentage of people who would prefer to use banks and not bitcoins.

No Bitcoins can make banks dissapear if people keep using bitcoins and why not ? I think bitcoins have all what is needed by users and if something fulfills all the needs of people it deserve to get on top.

[n0ne]

No I do not think this is possible if I'm very honest because the bitcoin is just to small right now maybe its possible in the future.
But the time will learn it because the bitcoin is not to predict of course.

I agree, and it is never easy to make banks disappear, in future bitcoin will be used more but there are certain percentage of people who would prefer to use banks and not bitcoins.

No Bitcoins can make banks dissapear if people keep using bitcoins and why not ? I think bitcoins have all what is needed by users and if something fulfills all the needs of people it deserve to get on top.

Thats not fair, Even when large adoptions take place banks won't disappear, the reason is only when bitcoin gets a physical form to use a small possibility is there to make banks disappear.

[Mirardowyn]

Of course this is possible but we just need to make the bitcoin as lot bigger by spreading it all over the world.
If we do that we can make banks disappear I'm sure of it, its just a matter of time.

[diegz]

i think yes...now a days bitcoins are gaining market...there is all chance that it would replace banks in near future!!....hot wallets are gaining now days....so hope for the best

I think it would really take more time, maybe years from now or we might not see it anymore if it happens, banks are everywhere and fiat is in there, and fiat runs the economy, so if it will make banks disappear, where will we put our paper money...so I think it is far from happening at this lifetime.