Can Bitcoin make Banks disappear?

[BlueStackz]

In fact people will still using both bitcoin and banking services for long time, in my opinion. Banking couldn't disappear because of Bitcoin as very large number of people worldwide prefer to use it till now, in the other hand Bitcoin is growing up and it's community is growing as well.

Yes 99% of the people around the world using both bitcoin and bank right now. But when people are coming to realize that bitcoin is enough to do their banking requirements, then the percentage of people using both will start to fall down.

[Imoote]

In fact people will still using both bitcoin and banking services for long time, in my opinion. Banking couldn't disappear because of Bitcoin as very large number of people worldwide prefer to use it till now, in the other hand Bitcoin is growing up and it's community is growing as well.

Yes true even when the person has enough bitcoin transfer directly to banks by selling them first. Banks can not just disappear simply with bitcoin for any person or body definitely need bitcoin, that's for sure.

[jethrorn99]

yeah after a few decades it surely can make the banks go extinct if there will be mass adoption and if people will start learning that bitcoin is the best currency in the world

i hope this will soon happen as we need to take down banks because of huge fees and the disallowance of using money at any time you want

I think decades will not be enough to kill fiat, since fiat is still used everywhere in the world.

hundreds of years from now maybe, but not decades.

[n0ne]

Simply making banks disappear is not possible. Due to the increasing price and the increased adoptions bitcoin usage will increase, but this won't pave path to make banks get disappear.

[gerXhonza]

Simply making banks disappear is not possible. Due to the increasing price and the increased adoptions bitcoin usage will increase, but this won't pave path to make banks get disappear.

Yeah, banks can never get disappear even if the bitcoin gets on the mainstream as we would find many people who will have strong faith in using bank services as they are used to it since a long time.

[Imoote]

Simply making banks disappear is not possible. Due to the increasing price and the increased adoptions bitcoin usage will increase, but this won't pave path to make banks get disappear.

Any later bitcoin want to grow even until its peak I think bitcoin will not make banks disappear because it is not possible at all. Banks are the most powerful financial institution in the world and every country in desperate need of banks to economic activity.

[honeyhtet]

Bitcoin "Can" make banks disappear IMO, but that would be a long and slow process and would not happen overnight.. And definitely not with the current bitcoin adoption and how it looks like in the eyes of the majority.

[harizen]

Because some people really enjoying the benefits of bitcoin they are experiencing today, that is not a big factor to make banks dissapear.

It's impossible even for long years if you will learn deeply the system behind bitcoin and bank.

Rather replacing the bank desire, just enjoy the current status of bitcoin and take advantage of it.

[MrCat]

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?

Banks as WE know it may disappear, but banks generally will not disappear.

I believe no... If Bitcoins become really that succeful in the future then banks will find a way to include bitcoins aswell.. they are not stupid

[Mountain Jew]

Bitcoin isn't going to make banks disappear. It's just meant to be an alternative payment/cash system. People will always need banks even if it's for just loans or whatnot. I suppose they could issue loans in bitcoin but banks will want to keep hold of the currency they can create/print/issue on their own will so in that respect bitcoin isn't preferable to them.

[Oscoda]

yeah after a few decades it surely can make the banks go extinct if there will be mass adoption and if people will start learning that bitcoin is the best currency in the world

i hope this will soon happen as we need to take down banks because of huge fees and the disallowance of using money at any time you want

I don't think so mate, at least in our nearest future. People worldwide use banking services and there is a minority till now use bitcoin and know some things about this crypto currency.

As suggested by above mate, its not true to make bank disappear. Banking services will continue for a long, because banking system is the best accepted economic system in the world.

I dont think that will happen in the future. Many people need their banks and that is really important for them.
Of course Bitcoin will be more popular in the future. But it can make disappear the banks. It will only reduce I think.

[stadus]

Bitcoin isn't going to make banks disappear. It's just meant to be an alternative payment/cash system. People will always need banks even if it's for just loans or whatnot. I suppose they could issue loans in bitcoin but banks will want to keep hold of the currency they can create/print/issue on their own will so in that respect bitcoin isn't preferable to them.

The central banks want to create or print the money. For the commencial banks, there is no difference between fiat and bitcoin.

[BADecker]

Can Bitcoin make Banks disappear? This is not important. Why not? Because the studs in the wall have disappeared, being covered by sheet rock or paneling.

Make the banks be really gone.

[Wilberforce]

While we have 100% representative democracy instead of e-democarcy, I think bitcoin is not safe from the bank lobby.

[avw1982]

Can Bitcoin make Banks disappear? This is not important. Why not? Because the studs in the wall have disappeared, being covered by sheet rock or paneling.

Make the banks be really gone.

bitcoin has a possible to hack and bitcoin value is not stable so its impossible that the banks will be disappear because of bitcoin... do you think guys if you forgot the password or you accidentally deleted your password in your laptop you can recover your account for me no so banks and atm's is always safe than bitcoin.

[jchst]

Well forget password only if you got sick and cant tell no one wich are your passwords before you forget it,besides those you can record all the passwords accounts in a book soo if something happens to you ,your family can act and the bitcoin or altcoins wont be lost forever.Sure bitcoins wont make bitcoin disappear ,they got the people support even with the high fees and rules around your money.

[praprata]

I do not think this will happen because the banks are just too big to do this, it would be awesome but its not possible.
Also the fact that too many people are depended on it for sure.

[lixer]

Can Bitcoin make Banks disappear? This is not important. Why not? Because the studs in the wall have disappeared, being covered by sheet rock or paneling.

Make the banks be really gone.

bitcoin has a possible to hack and bitcoin value is not stable so its impossible that the banks will be disappear because of bitcoin... do you think guys if you forgot the password or you accidentally deleted your password in your laptop you can recover your account for me no so banks and atm's is always safe than bitcoin.

The two reasons you are mentioning also applicable for banks.
a. In my country many banks gone bankruptcy for many reasons.
b. Many bank deposit gone useless by leaving without nomination or not informing to family.

[Nameless Coin]

Can Bitcoin make Banks disappear? This is not important. Why not? Because the studs in the wall have disappeared, being covered by sheet rock or paneling.

Make the banks be really gone.

bitcoin has a possible to hack and bitcoin value is not stable so its impossible that the banks will be disappear because of bitcoin... do you think guys if you forgot the password or you accidentally deleted your password in your laptop you can recover your account for me no so banks and atm's is always safe than bitcoin.

Sure bitcoin is powerful and already go ta great community but beating/competing with banks? Not yet.
There need to be made a lot of steps will this happen. Banks are very very powerfull financially and politically.

[Crazygreek]

It's can't be...
At my opinion btc's will disappear sonner than banks. A lot of people don't even know about btc's, but everybody knows about banks. So btc's need to be popular first.