Can Bitcoin make Banks disappear?

[Julahid]

Well, yeah. Apparently tons of website offer a free wallets. You can be your own bank. People are not gonna be needing other banks if there were bitcoin banks. Simply because bitcoin banks will (maybe) not have any transaction fees for withdrawing or depositing money. Some banks have transaction fee if you withdraw from a different bank.

[Icathia]

Bitcoin cant replace banks,either their services,do you think someone will lend you 50 btc to you repay in 40 years?Do you really think this is going to happen?Banks products even being expensive they give you time something that bitcoin cant give .

That's depend really with the usability of Bitcoin worldwide. Nowadays it's not going to happen even in the nearest future because banking services are already used a lot more than Bitcoin , but if Bitcoin's currency conquer the world there is a possibility that things change

It can only replace it when Bitcoin is the most used payment method and if it is everywhere acceptable than we can talk about replacing but around this time it will be not possible.
There are millions of people that doesnt even know how Bitcoins works so you have to fix that problem first.

[haileysantos95]

its just like guess the future,its hard to answer is bitcoin can make bank disappear,because until now we have not find any bank with bitcoin payment,lets hope someday in 2020 his is will happen. or maybe bitcoin was not exist.

I dont think that bitcoin can make bank disappear even in the year 2020,banks are still strong and we users of bitcoin is still less and we need more than half the population to even compete with banks.

[JeffBrad12]

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.

The problem is the start, I doubt a real country would accept bitcoin right now and the news and directions of governments is more against bitcoin than with bitcoin, even banks are becoming interested in the block system so it can change how the economy looks...

Very precise, very difficult to bitcoin to make sure banks disappear because the state will help banks. As we know the country is in dire need banks to save money so it will not happen.

bank is one important factor in the bitcoin system... Bitcoin can't disappear them...

[diodio5]

Bitcoin needs to be more powerful to replace banks, and that is not possible at a moment, as banks are the most trusted organization and people don't trust bitcoin.

the bank is not an organization. bank is a company created by the government or the private sector who have a very big money. bitcoin impossible will make banks be disappearing.
even if the use of bitcoin still less with the use of paypal. I've looked at the data

[richardsNY]

No it will be not happened, because bitcoin is just like money and bank will save the money.  

The difference is that Bitcoin isn't being stored in banks like fiat money is. That's a huge difference. Banks are always needed. If Bitcoin at some point gets its own value, then still banks are still needed as Bitcoin will most likely always be tied to fiat.

[Julahid]

The difference is that Bitcoin isn't being stored in banks like fiat money is. That's a huge difference. Banks are always needed. If Bitcoin at some point gets its own value, then still banks are still needed as Bitcoin will most likely always be tied to fiat.

Indeed, if the physical coin of bitcoin becomes a trend. For example 1 btc coins, 1mbtc coins, become a trend, then a bank might be necessary. But we can not assure that since they are just coins, banks are used to store and secure paper money though.

[Herbert2020]

The difference is that Bitcoin isn't being stored in banks like fiat money is. That's a huge difference. Banks are always needed. If Bitcoin at some point gets its own value, then still banks are still needed as Bitcoin will most likely always be tied to fiat.

Indeed, if the physical coin of bitcoin becomes a trend. For example 1 btc coins, 1mbtc coins, become a trend, then a bank might be necessary. But we can not assure that since they are just coins, banks are used to store and secure paper money though.

i doubt if ever physical bitcoins become a thing, they will always as they are now will remain some sort of collections.
bitcoin is all about a revolutionary technology to change things not go back to the old fashioned ways money used to be. in that case there is paper money why should we even need bitcoin!

[M83]

In theory it could make central banks dissapear. I think in the future regular fiat cash will eventually be replaced by digital cash.There's just too many advantages. I watched a documentary about counterfeit us bills the other day and there's billions of it being made and flooded into the market. The bills are so good that it's hard to tell them apart. Bitcoin solves this instantly. Bitcoin also solves the issue of banks being able to print it as they like which as we know devalues the currency whereas the opposite is true of bitcoin.

[apriyoni]

In theory it could make central banks dissapear. I think in the future regular fiat cash will eventually be replaced by digital cash.There's just too many advantages. I watched a documentary about counterfeit us bills the other day and there's billions of it being made and flooded into the market. The bills are so good that it's hard to tell them apart. Bitcoin solves this instantly. Bitcoin also solves the issue of banks being able to print it as they like which as we know devalues the currency whereas the opposite is true of bitcoin.

I agree with that. With bitcoin, there is no need for the centre banks to issue currency and control interests.

[Imoote]

The difference is that Bitcoin isn't being stored in banks like fiat money is. That's a huge difference. Banks are always needed. If Bitcoin at some point gets its own value, then still banks are still needed as Bitcoin will most likely always be tied to fiat.

Indeed, if the physical coin of bitcoin becomes a trend. For example 1 btc coins, 1mbtc coins, become a trend, then a bank might be necessary. But we can not assure that since they are just coins, banks are used to store and secure paper money though.

i doubt if ever physical bitcoins become a thing, they will always as they are now will remain some sort of collections.
bitcoin is all about a revolutionary technology to change things not go back to the old fashioned ways money used to be. in that case there is paper money why should we even need bitcoin!

Yes true bitcoin unlike banks that can spend money physically. While bitcoin has no physical form and only limited to digital money. And obviously bitcoin will not make banks disappear.

[beduku22]

In theory it could make central banks dissapear. I think in the future regular fiat cash will eventually be replaced by digital cash.There's just too many advantages. I watched a documentary about counterfeit us bills the other day and there's billions of it being made and flooded into the market. The bills are so good that it's hard to tell them apart. Bitcoin solves this instantly. Bitcoin also solves the issue of banks being able to print it as they like which as we know devalues the currency whereas the opposite is true of bitcoin.

I agree with that. With bitcoin, there is no need for the centre banks to issue currency and control interests.

may happen in the future when people understand that they do not a third party to deal with each other.

[adomers]

In theory it could make central banks dissapear. I think in the future regular fiat cash will eventually be replaced by digital cash.There's just too many advantages. I watched a documentary about counterfeit us bills the other day and there's billions of it being made and flooded into the market. The bills are so good that it's hard to tell them apart. Bitcoin solves this instantly. Bitcoin also solves the issue of banks being able to print it as they like which as we know devalues the currency whereas the opposite is true of bitcoin.

Bitcoin is a full currency i think , there is no real difference between Bitcoin and the other currencies nowadays, fiat is used more till now that's true

[Adrayrd]

In theory it could make central banks dissapear. I think in the future regular fiat cash will eventually be replaced by digital cash.There's just too many advantages. I watched a documentary about counterfeit us bills the other day and there's billions of it being made and flooded into the market. The bills are so good that it's hard to tell them apart. Bitcoin solves this instantly. Bitcoin also solves the issue of banks being able to print it as they like which as we know devalues the currency whereas the opposite is true of bitcoin.

Bitcoin is a full currency i think , there is no real difference between Bitcoin and the other currencies nowadays, fiat is used more till now that's true

Bitcoin is a currency indeed, but it will be not possible that it can make the banks disappear you should know that there are a lot of people that is still using banks.
And they dont know even how it works and that is the problem you have to promote it more.

[umaOuma]

In theory it could make central banks dissapear. I think in the future regular fiat cash will eventually be replaced by digital cash.There's just too many advantages. I watched a documentary about counterfeit us bills the other day and there's billions of it being made and flooded into the market. The bills are so good that it's hard to tell them apart. Bitcoin solves this instantly. Bitcoin also solves the issue of banks being able to print it as they like which as we know devalues the currency whereas the opposite is true of bitcoin.

Bitcoin is a full currency i think , there is no real difference between Bitcoin and the other currencies nowadays, fiat is used more till now that's true

Bitcoin is a currency indeed, but it will be not possible that it can make the banks disappear you should know that there are a lot of people that is still using banks.
And they dont know even how it works and that is the problem you have to promote it more.

Banks can never disappear as banks are the strongest financial institutions we have and it holds the support from the Government and also holds more trust from the customers.

[romero121]

In theory it could make central banks dissapear. I think in the future regular fiat cash will eventually be replaced by digital cash.There's just too many advantages. I watched a documentary about counterfeit us bills the other day and there's billions of it being made and flooded into the market. The bills are so good that it's hard to tell them apart. Bitcoin solves this instantly. Bitcoin also solves the issue of banks being able to print it as they like which as we know devalues the currency whereas the opposite is true of bitcoin.

Bitcoin is a full currency i think , there is no real difference between Bitcoin and the other currencies nowadays, fiat is used more till now that's true

Bitcoin is a currency indeed, but it will be not possible that it can make the banks disappear you should know that there are a lot of people that is still using banks.
And they dont know even how it works and that is the problem you have to promote it more.

Banks can never disappear as banks are the strongest financial institutions we have and it holds the support from the Government and also holds more trust from the customers.

That's true, each and every user in the world directly or indirectly depends on bitcoin. I believe banks were running successfully with the support of government as well acceptance. So its not possible to make banks get disappear.

[CryingMidget]

In theory it could make central banks dissapear. I think in the future regular fiat cash will eventually be replaced by digital cash.There's just too many advantages. I watched a documentary about counterfeit us bills the other day and there's billions of it being made and flooded into the market. The bills are so good that it's hard to tell them apart. Bitcoin solves this instantly. Bitcoin also solves the issue of banks being able to print it as they like which as we know devalues the currency whereas the opposite is true of bitcoin.

Bitcoin is a full currency i think , there is no real difference between Bitcoin and the other currencies nowadays, fiat is used more till now that's true

Banks are the worst nightmare and bitcoin is a life saver but still i don't think bitcoin can make banks disappear i think bitcoin still needs some time to make a place in everyone's mind. people's blindly trust on banks but don't trust blindly on bitcoin.

[pujumba]

NoT banks are holders, they will need just change their dollars to bitcoin, so they will have bitcoins and they will do all they already did , credit card with bitcoins , loans with bitcoins , banks are about controling money and keeping him safe, just like a vault.

I think you want to mean    Bitcoin can make fees disapear not, but maybe we can pay less than now.

[terman45x]

In theory it could make central banks dissapear. I think in the future regular fiat cash will eventually be replaced by digital cash.There's just too many advantages. I watched a documentary about counterfeit us bills the other day and there's billions of it being made and flooded into the market. The bills are so good that it's hard to tell them apart. Bitcoin solves this instantly. Bitcoin also solves the issue of banks being able to print it as they like which as we know devalues the currency whereas the opposite is true of bitcoin.

Bitcoin is a full currency i think , there is no real difference between Bitcoin and the other currencies nowadays, fiat is used more till now that's true

Banks are the worst nightmare and bitcoin is a life saver but still i don't think bitcoin can make banks disappear i think bitcoin still needs some time to make a place in everyone's mind. people's blindly trust on banks but don't trust blindly on bitcoin.

That is the main problem that people lack trust in bitcoin and they are worried of loosing their money into  bitcoin, and they feel that their money is safe with banks, and I respect their feelings.

[yunuzov]

I think yes banks may be outdated in future.
Bitcoin help them disappear.