Can Bitcoin make Banks disappear?

[KennyR]

I bet bitcoin can because there is many bitcoin user now. And once many nations accept bitcoins
it is possible to make banks disappear. Because it has fast transactions and more secured and because technology becomes
more modern now it can easily fit in the modern world and it can use in different ways in the internet.

Yes when the user base of bitcoin keeps on growing and the requirement for Internet money usage makes more demand, then there are more possibilities for bitcoin to make Banks disappear.

Yes worldwide most people and many countries already started to adopt bitcoin payments instead of their bank uses. The main reason for this, bitcoin has all the features required for more and demand like fast and secured transactions.

Maybe you're right, but the average person using the bank for the transaction and can not escape. Although they use bitcoin surely they also use banks to save banks. Banks disappears it is very unlikely and it was very hard going.

Banks can hardly disappear as most companies has affiliates with banks and some businessman owns a bank as well and company owner still uses banks to pay their worker through atm.

I agree. Banks will not disappear until fiat disappear aswell. And that's almost impossible (yet, i dont know the future)

If fiat still used, then banks will still be there aswell.

Banks won't get disappeared just due to the bitcoin technology. Even if everything goes digital paving path for digital currency too banks will be in use.

[BitMaxz]

for me i think every thing is possible with bitcoin if government accept bitcoin right now banks will disappear and it will not use anymore..
But for now its impossible if it will happen in this year,.. maybe it will happen in the future..

[1dullgeek]

I haven't read all 47 (!) pages of this thread. But from a fairly short perusal of the content, I don't see anyone mentioning that banks primary function is to match savers with borrowers. Meaning that they pay a percentage of interest to savers and then charge a higher percentage to people who borrow that money. And they take on the default risk for the loans without (directly) passing that risk on to their depositors.

I'm unaware of how bitcoin eliminates those functions. Imagine a world in which we only had bitcoin. There would still be a desire for some people to save and other people to borrow. Consequently something will emerge that provides those services. I suspect it will look a lot different than today's banks, but I'm guessing that most people will still call it a bank because it will provide all of the functions that they typically associated with a bank.

[whysoanon]

Virowox would be a good physical bank, Anyone agree?

[CasioK]

It's immposible to Bitcoin disappear Banks, Because we do not know if Bitcoin Did not last long. Maybe bitcoin can disappear.

You might be wrong. Because bitcoin is not a single factor baseded system. It can be modified/updated based on the future requirements. When there are more reasons to survive then it has more chances to replace bank too.

[BitcoinPaw]

it has the potential to do so, I consider bitcoin capable of changing the world economical system and take it to the next level, but of course for that to happen bitcoin needs to get more mainstream and worldwide worth and value more than now.

Bitcoin will be mainstream only if value will be ~700$+ for 1btc and than people start thinking how to make it popular to get more money. I think community need to promote bitcoin.

[BeGoods]

It's immposible to Bitcoin disappear Banks, Because we do not know if Bitcoin Did not last long. Maybe bitcoin can disappear.

Unfortunately, yes, it is almost impossible to make banks disappear because of bitcoin.. Banks would always cope up with the situation and adopt new technology to be functional in the modern time..

I think bitcoin will continue to survive for the long term I agree with you bitocin will not be able to replace the bank and fiat. perhaps many people would argue that bitcoin will replace the bank but I think it's all impossible. fiat and banks will always develop according to the times. bitcoin will probably be the second

[diodio5]

I bet bitcoin can because there is many bitcoin user now. And once many nations accept bitcoins
it is possible to make banks disappear. Because it has fast transactions and more secured and because technology becomes
more modern now it can easily fit in the modern world and it can use in different ways in the internet.

I would bet that it will never happen although bitcoin has a large user, it will not make banks be disappearing.
if fiat continue as usual banks will follow in order to stay afloat. I'll bet fiat will continue to win from bitcoin.

[RoommateAgreement]

i doubt that banks can ever disappear. even if bitcoin goes mainstream and be used by everybody and the price is 1 MIll Dollar.

banks are useful, we are all using them one way or another. for example the loans are a big part of banking system that is super hard thing to do without banking system since trusting another person instead of bank to take loan is hard.

[knowhow]

Bitcoin has no power to make and take banks downs,with the full advantages against the bank system ,based on fiat,bitcoin isnt a threat to them,as they have the support from all costumers,just some ,maybe us and some others just dont like them.

[Imoote]

Bitcoin has no power to make and take banks downs,with the full advantages against the bank system ,based on fiat,bitcoin isnt a threat to them,as they have the support from all costumers,just some ,maybe us and some others just dont like them.

The answer is very precisely and very clearly. It can be argued until whenever bitcoin can not affect the banks because they are financial institutions that have been legalized and has been accepted by many people.

[jkrules]

Bitcoin has no power to make and take banks downs,with the full advantages against the bank system ,based on fiat,bitcoin isnt a threat to them,as they have the support from all costumers,just some ,maybe us and some others just dont like them.

Users here make use of bitcoin wallets whether online or offline but these also are online banks.
We need a place to store those coins and these are called banks which would exist forever.

[BlueStackz]

It's immposible to Bitcoin disappear Banks, Because we do not know if Bitcoin Did not last long. Maybe bitcoin can disappear.

The last six years history is the enough proof that bitcoin will last forever. We are talking about replacing banks by bitcoin so it is completely meaningless for pointing out the survival of bitcoin.

[alisafidel58]

It's immposible to Bitcoin disappear Banks, Because we do not know if Bitcoin Did not last long. Maybe bitcoin can disappear.

The last six years history is the enough proof that bitcoin will last forever. We are talking about replacing banks by bitcoin so it is completely meaningless for pointing out the survival of bitcoin.

Yeah i think bitcoin wont really replace banks in the future,there are still some people who uses and trusted banks more than bitcoin.

[sotisoti]

I think it's almost impossible as some banks start to explore blockchain, they even work with fintech startup on integrating the technology with the existing infrastructure. Unless Bitcoin goes mainstream and gets mass adoption, I don't see why it can make banks disappear.

[Zuminest]

i think bitcoin can't disappear banks.. because most of the people don't know about bitcoin... almost all the people use banks and that won't depends upon educated or uneducated, rich or poor... and most of the people trust only the banks... so after few years bitcoin will be popular but still banks will be there...

[Altcoinsupporter]

That is only possible when Bitcoin is very famous and also more used, and that is not the case now. But I think that it is possible.
If it is going to happen, than it will happen very late, there are a lot of people that need their banks and that is really important.
You cant disappear something that is really important for the people.

[KennyR]

That is only possible when Bitcoin is very famous and also more used, and that is not the case now. But I think that it is possible.
If it is going to happen, than it will happen very late, there are a lot of people that need their banks and that is really important.
You cant disappear something that is really important for the people.

Bitcoin is just the currency of the future. At present bank is considered to be one of the basic needs. So near or later bitcoin won't replace banks easily.

[Kingno.1]

According to me, bitcoins cannot make banks disappear.
Banking system is much older and acceptable system in the society.
On the other hand bitcoin still has to establish itself  among people.
Then how could bitcoin replace banking system so soon?

[ronaldinho_07]

Bitcoin has no power to hit the banks soo hard,sure we are now able to be our own bank,but in the end they control the economy together with governement,soo bitcoin isnt accepted full anywhere soo there are two opposited places .