Can Bitcoin make Banks disappear?

[jula551]

absolutely a big no!!!!! cause bitcoin is only an online currency and nothing special about it to replace the banks,
so its impossible to bitcoin  to replace banks.

in actual its true but actually why would we want bitcoins to disappear banks ? Both can run because none of them influence the other in any manner.

[hkla241]

absolutely a big no!!!!! cause bitcoin is only an online currency and nothing special about it to replace the banks,
so its impossible to bitcoin  to replace banks.

in actual its true but actually why would we want bitcoins to disappear banks ? Both can run because none of them influence the other in any manner.

important part of world economy is no longer enough to compete with digital world. That is the point where the problem for banks starts.

[Imoote]

absolutely a big no!!!!! cause bitcoin is only an online currency and nothing special about it to replace the banks,
so its impossible to bitcoin  to replace banks.

in actual its true but actually why would we want bitcoins to disappear banks ? Both can run because none of them influence the other in any manner.

important part of world economy is no longer enough to compete with digital world. That is the point where the problem for banks starts.

But banks can now also be accessed online, and I think almost the same as digital. Banks I am sure will have plenty of ways to stay afloat and I'm sure it would get help from the government. That's why banks are very difficult to disappear.

[delliaerd]

Bitcoin will dominates online payment transaction. Online means you can't access it without an internet of course. So definitely it's digital.

Banks are most used for real life payment purposes. Banks can reached even the center of the forest with no signal at all. If you got the point here then good.

Bitcoin can't make banks dissapear even you are 100% bitcoin believer.

Bitcoin can't make the banks disappear but in my opinion bitcoin and bank can work together and obviously we can get more advantage of them.

[LarryHocks]

Crypto world currencies is one step ahead to the future,but making banks disappear wont happen,as actula system is full based on them,and they have a lot advantages against bitcoin,the same way bitcoin has some.The people wont change their minds in a day or year,bitcoin is see for the most and investment and nothing else,as they trade it daily,getting a good return soo thats why they are at bitcoin.

I agree with you, I think making banks disappear is just too big of a move for bitcoin, I think it would gain more popularity and mainstream adoption but making banks disappear is just too much.

Banks are very important for a lot of people, because they dont even know how to use Bitcoin or what Bitcoin is and that is the problem.
I hope that there will be more people of course will use Bitcoin but it cant disappear the banks and that will also not happen.

[cluit]

The banks themselves are cutting your money with passing time for transactions fees and other taxes, but with bitcoin there is a security that you will secure your hard earned money from that type of fees etc. We need to make banks disappear to protect our wealth.

[ebookscreator]

I think it will not happen that bitcoin can make disappear any banks.. because they are a perfect couple if you combine this 2 banks and bitcoin you can exchange your bitcoin easily in any banks.. if there's no banks bitcoin is nothing and its just a digital currency online you cant withdraw it into money or fiat.. so it will not happen..

[kpitti]

Banks in the terms of old solid building holding money for people are gone now. They are changing and they need to change adopting new technology. Business and people demand is a drive for that. If there will be demnad for Bitcoin then Bank will change to it or disappear.

[nostal02]

I think bitcoin cant make bank disappear,bank will just evolve into something new and will fight bitcoin if they see it as a threat so far banks doesnt see that way and didnt take any action.

[jkrules]

I think bitcoin cant make bank disappear,bank will just evolve into something new and will fight bitcoin if they see it as a threat so far banks doesnt see that way and didnt take any action.

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

[n0ne]

I think bitcoin cant make bank disappear,bank will just evolve into something new and will fight bitcoin if they see it as a threat so far banks doesnt see that way and didnt take any action.

Yes such fighting back can be found in the future. But banks won't get disappear just with the growing of bitcoin. Lots of crypts have existed but it has never had some impact on banking.

[ronaldinho_07]

One thing is sure bitcoin and others crypto wouldnt exist without banks,that are the main way to us to moove our money into online stores,into companies like paypal.Soo without banks would be any crypto,soo thinking the child could kill the mom its not gonna happen .

[DeDordtenaar]

One thing is sure bitcoin and others crypto wouldnt exist without banks,that are the main way to us to moove our money into online stores,into companies like paypal.Soo without banks would be any crypto,soo thinking the child could kill the mom its not gonna happen .

nope we can still convert it to paypal to buy goods and food. if bitcoin has not been widely accepted in shops.
but indeed I must say that bitcoin is still dependent on the fiat

[kodtycoon]

i don't think any crypto currency will totally replace banks to the point where they don't exist. i do however believe that their prominence and power will be drastically reduced in a similar fashion to that of record labels and the introduction of torrenting and youtube and the likes. prior to the internet era, record labels were practically a necessity, at least if you wanted to make it any ways big. they had a monopoly on the music industry. you didn't succeed if they didn't want you to. now, they are still in existence, but they have little power or influence. crypto will do similar to the banks, clearing houses and all sorts of industries that we likely cant even fathom yet.

[bitcoinhopper]

I think bitcoin cant make bank disappear,bank will just evolve into something new and will fight bitcoin if they see it as a threat so far banks doesnt see that way and didnt take any action.

Yes such fighting back can be found in the future. But banks won't get disappear just with the growing of bitcoin. Lots of crypts have existed but it has never had some impact on banking.

Indeed, the fact is also that banks are too big and ther are too many people depending on a bank if you ask me.
There is a little chance that this will happen but I do not see this happen if I'm honest.

[Chairul Muttaqin]

Bitcoin is online currency and bank is money storage offline. I mean it is different, bitcoin won't disappear the bank. But no one knows what happen in the future.

[KennyR]

Bitcoin is online currency and bank is money storage offline. I mean it is different, bitcoin won't disappear the bank. But no one knows what happen in the future.

Even in future if we experience digitalization, banks won't get disappeared because of the bitcoin's growth.

[jula551]

Bitcoin is online currency and bank is money storage offline. I mean it is different, bitcoin won't disappear the bank. But no one knows what happen in the future.

Even in future if we experience digitalization, banks won't get disappeared because of the bitcoin's growth.

Bitcoin transfers are usually irreversible when there is at least one confirmation. This makes it hard for attackers to reverse without controlling significant percentage of the network or a long block reorganization.

Also, merchants can accept Bitcoin with little to no cost or loss. It wouldn't make sense if the merchant only wants to install a POS with Bitcoin integration when there is a large volume. Transactions are verified instantly by nodes when transactions are sent.

[Altynbekova]

No that is impossible. Because you can see that of course many people are now using Bitcoin, but you never know what will happen with the value and that is the problem.
I hope later that there will be more people that use Bitcoin. But many people must use banks because it is really important for them.

[simonloff]

i don't think any crypto currency will totally replace banks to the point where they don't exist. i do however believe that their prominence and power will be drastically reduced in a similar fashion to that of record labels and the introduction of torrenting and youtube and the likes. prior to the internet era, record labels were practically a necessity, at least if you wanted to make it any ways big. they had a monopoly on the music industry. you didn't succeed if they didn't want you to. now, they are still in existence, but they have little power or influence. crypto will do similar to the banks, clearing houses and all sorts of industries that we likely cant even fathom yet.

Agree it will be a gradual process, Even if bitcoin is capable of doing that and has the opportunity, I think it will be a very slow change in economy overall gradually replacing banks with better systems.