Can Bitcoin make Banks disappear?

[fravia]

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?

well now world are ruled by banks and their money, so if most of world would use bitcoin, people wouldn't need banks they they would disappear and i don't think that they would like bitcoins

but for that lots of people have to use bitcoin, while now just up to 3% of humans use it and that's not enough at all, we need like 75% of humans to use it, then it would be good and banks would disappear

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[Thoth-]

No.


Bank rule the world and BTC is an experiment in open books and no cash society

[senyorito123]

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?

well now world are ruled by banks and their money, so if most of world would use bitcoin, people wouldn't need banks they they would disappear and i don't think that they would like bitcoins

but for that lots of people have to use bitcoin, while now just up to 3% of humans use it and that's not enough at all, we need like 75% of humans to use it, then it would be good and banks would disappear

Yeah banks is rulesd and it is spread all over the world and bank have strong fundation by government thats why bitcoin can never make bank dissappear because not all people using bitcoin and many people doubting for using it because of its lack of adoption to business world and price of it is unstable.

[Herbert2020]

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?

well now world are ruled by banks and their money, so if most of world would use bitcoin, people wouldn't need banks they they would disappear and i don't think that they would like bitcoins

but for that lots of people have to use bitcoin, while now just up to 3% of humans use it and that's not enough at all, we need like 75% of humans to use it, then it would be good and banks would disappear

Yeah banks is rulesd and it is spread all over the world and bank have strong fundation by government thats why bitcoin can never make bank dissappear because not all people using bitcoin and many people doubting for using it because of its lack of adoption to business world and price of it is unstable.

i agree that banks are not going to be replaced this easily and bitcoin will probably never replace banks but it is not because of their power or even the government backing them up (may be it is ) but all of that would be only a small part of the reason.
the biggest reason would be because they are useful and people will always need banks for holding their money and giving them loans and ....

[mindrust]

Probably not.

At least not in 100 years.

There are still too little people aware of bitcoin's existence and there are some unclear information about bitcoin, which makes it not to be trusted for a decent amount of people.

On the other hand, even though banks aren't perfectly safe, still, mostly, they are safe.

[torrentheaven]

Bitcoin  can never make banks disappear as banks are the most trusted organizations and  holds trust from the society, both will survive in future and we need both of them.

[Almagro]

Still this thread is full of hopes that bitcoin will replace banks. Please think first some possible consequences if ever the banking system will be gone and will just replaced by bitcoin. That is really a serious problem so let's just enjoy those two.

[coinzat]

Still this thread is full of hopes that bitcoin will replace banks. Please think first some possible consequences if ever the banking system will be gone and will just replaced by bitcoin. That is really a serious problem so let's just enjoy those two.

why do you think it will be a serious problem to stop trusting these third parties on our money ?
I know that it won't happen soon and people need more time to understand bitcoin in a deep way then they will discover that banks are useless

[voztata]

It will only make it disappear when there will be a lot of people that is going to use Bitcoin otherwise it will be not possible for them and that will takes indeed a long time.
So you have to know that there will be a lot of people must promote Bitcoin to disappear the Bitcoin.

What? I'm highly confused of what you said. People must promote Bitcoin so bitcoin would disappear? What? That's very contradicting what you said there. How can bitcoin disappear if people must promote them? Or do you mean 'people must promote Bitcoin to disappear banks' ? Well even so, I have to tell you that that would be nearly impossible.

[umaOuma]

It will only make it disappear when there will be a lot of people that is going to use Bitcoin otherwise it will be not possible for them and that will takes indeed a long time.
So you have to know that there will be a lot of people must promote Bitcoin to disappear the Bitcoin.

What? I'm highly confused of what you said. People must promote Bitcoin so bitcoin would disappear? What? That's very contradicting what you said there. How can bitcoin disappear if people must promote them? Or do you mean 'people must promote Bitcoin to disappear banks' ? Well even so, I have to tell you that that would be nearly impossible.

Even if  bitcoin is promoted on highest level it can never make banks disappear, what about poor and illiterate people who only knows banking system.

[ekoice]

It will only make it disappear when there will be a lot of people that is going to use Bitcoin otherwise it will be not possible for them and that will takes indeed a long time.
So you have to know that there will be a lot of people must promote Bitcoin to disappear the Bitcoin.

What? I'm highly confused of what you said. People must promote Bitcoin so bitcoin would disappear? What? That's very contradicting what you said there. How can bitcoin disappear if people must promote them? Or do you mean 'people must promote Bitcoin to disappear banks' ? Well even so, I have to tell you that that would be nearly impossible.

Even if  bitcoin is promoted on highest level it can never make banks disappear, what about poor and illiterate people who only knows banking system.

It does not seem to be possible that banks might disappear so fast since the world is full of banks and surrounded by banking system and even though bitcoins become very popular but still public will have some need of banks always. Instead we can expect that banks would start adopting bitcoins since they need bitcoins for their survival in future.

[Wapinter]

Still this thread is full of hopes that bitcoin will replace banks. Please think first some possible consequences if ever the banking system will be gone and will just replaced by bitcoin. That is really a serious problem so let's just enjoy those two.

Thats what I also say.Bitcoin and traditional banking system can go hand in hand.We do not need one to disappear for other to grow or exist.It like comparing apples and oranges

[hawkins]

Still this thread is full of hopes that bitcoin will replace banks. Please think first some possible consequences if ever the banking system will be gone and will just replaced by bitcoin. That is really a serious problem so let's just enjoy those two.

Thats what I also say.Bitcoin and traditional banking system can go hand in hand.We do not need one to disappear for other to grow or exist.It like comparing apples and oranges

I think also like that. bitcoin bank and I think it's like one. nothing needs to be removed, the two of them tends ideal place for businessmen, banks and bitcoin have their respective advantages.

[romero121]

It will only make it disappear when there will be a lot of people that is going to use Bitcoin otherwise it will be not possible for them and that will takes indeed a long time.
So you have to know that there will be a lot of people must promote Bitcoin to disappear the Bitcoin.

What? I'm highly confused of what you said. People must promote Bitcoin so bitcoin would disappear? What? That's very contradicting what you said there. How can bitcoin disappear if people must promote them? Or do you mean 'people must promote Bitcoin to disappear banks' ? Well even so, I have to tell you that that would be nearly impossible.

Even if  bitcoin is promoted on highest level it can never make banks disappear, what about poor and illiterate people who only knows banking system.

Exactly if bitcoin goes increasing on the highest level of development, there will be people who depend upon fiat as bitcoin can be used only by person who have at least some skill in computer and internet.

[SquallLeonhart]

It will only make it disappear when there will be a lot of people that is going to use Bitcoin otherwise it will be not possible for them and that will takes indeed a long time.
So you have to know that there will be a lot of people must promote Bitcoin to disappear the Bitcoin.

What? I'm highly confused of what you said. People must promote Bitcoin so bitcoin would disappear? What? That's very contradicting what you said there. How can bitcoin disappear if people must promote them? Or do you mean 'people must promote Bitcoin to disappear banks' ? Well even so, I have to tell you that that would be nearly impossible.

Even if  bitcoin is promoted on highest level it can never make banks disappear, what about poor and illiterate people who only knows banking system.

Exactly if bitcoin goes increasing on the highest level of development, there will be people who depend upon fiat as bitcoin can be used only by person who have at least some skill in computer and internet.

Bitcoin will be only used by those who loves to spend money online,  and rest will continue to use fiat and for that they need banks to take care of their savings and transactions.

[noormcs5]

Still this thread is full of hopes that bitcoin will replace banks. Please think first some possible consequences if ever the banking system will be gone and will just replaced by bitcoin. That is really a serious problem so let's just enjoy those two.

I think that one day banks will be replaced by the bitcoins. But which will be that day?
Thats the question Unanswered. We need to wait for this to happen.

[OrangeII]

Still this thread is full of hopes that bitcoin will replace banks. Please think first some possible consequences if ever the banking system will be gone and will just replaced by bitcoin. That is really a serious problem so let's just enjoy those two.

I think that one day banks will be replaced by the bitcoins. But which will be that day?
Thats the question Unanswered. We need to wait for this to happen.

I think bitcoin will not replace bank. the wider community has been very trust banks, almost all the people in this forum have a bank account, it's because we all need it

[Imoote]

Still this thread is full of hopes that bitcoin will replace banks. Please think first some possible consequences if ever the banking system will be gone and will just replaced by bitcoin. That is really a serious problem so let's just enjoy those two.

I think that one day banks will be replaced by the bitcoins. But which will be that day?
Thats the question Unanswered. We need to wait for this to happen.

I think bitcoin will not replace bank. the wider community has been very trust banks, almost all the people in this forum have a bank account, it's because we all need it

Yes very true we need banks to save money and transact. People also are familiar with banks for a long time and certainly very necessary once. So it is very unlikely banks disappear here.

[knowhow]

Bitcoin is an option to avoid fees and the control that banks has at people money,bitcoin havent borned to kill the current financial system,but as an option and allowing anyone to have plenty control of their money.

[Tanic]

I think banks will never disappear. They will add more and more funktions to satisfy as much interests of people and themselves as it possible. So it can change name in the future or something else, but it will stay it's main function - earning money on peoples' wishes.