Can Bitcoin make Banks disappear?

[Denker]

I think it bank will never disappear, We cant even access bitcoin if we dont have banks, Bank are use to cash out our bitcoins

That is not true!
There are BTMs out there you can buy Bitcon with.It's pretty simple.Put some bills into the slot of the machine and get Bitcoin transferred on your smartphone.
Or you can use Localbitcoins to buy btc via personal meetings.Cash for Bitcoin.Again pretty easy.
Or you just do some work, offer services and let you pay in Bitcoin.Again an easy possibility to get access to Bitcoin without the need of banks.

[AriesIV10]

I think it bank will never disappear, We cant even access bitcoin if we dont have banks, Bank are use to cash out our bitcoins

That is not true!
There are BTMs out there you can buy Bitcon with.It's pretty simple.Put some bills into the slot of the machine and get Bitcoin transferred on your smartphone.
Or you can use Localbitcoins to buy btc via personal meetings.Cash for Bitcoin.Again pretty easy.
Or you just do some work, offer services and let you pay in Bitcoin.Again an easy possibility to get access to Bitcoin without the need of banks.

If vendors all took Bitcoin, there would be no need for cash.  I have a credit card through CoinBase right now that I can use just like a Visa/Mastercard so, in a sense I do not need banks.

[gilangIDR]

bitcoin provides convenience to transact. bitcoin also provides speed in the deal. bitcoin can beat the bank in all respects.

[jukka]

I think it bank will never disappear, We cant even access bitcoin if we dont have banks, Bank are use to cash out our bitcoins

That is not true!
There are BTMs out there you can buy Bitcon with.It's pretty simple.Put some bills into the slot of the machine and get Bitcoin transferred on your smartphone.
Or you can use Localbitcoins to buy btc via personal meetings.Cash for Bitcoin.Again pretty easy.
Or you just do some work, offer services and let you pay in Bitcoin.Again an easy possibility to get access to Bitcoin without the need of banks.

thats true! you certainly dont need banks if you want to use bitcoin. however, banks will not disappear but they will start use blockchain technologies.

[rabeh boukhnona]

yes, bitcoin is a revolutionary.

[HarryKPeters]

There is potential here, but getting rid of all the banks? No they are too powerfull although i see it happening that banks will go bankrupt since more users will avoid them.
But since banks sell services like mortgages, insurancies etc. They where will be a place for them.

[umaOuma]

There is potential here, but getting rid of all the banks? No they are too powerfull although i see it happening that banks will go bankrupt since more users will avoid them.
But since banks sell services like mortgages, insurancies etc. They where will be a place for them.

Yeah banks are the strongest, and bitcoin is not that strong yet, it will take time to grow and become more powerful, but banks will always exist, normal users desperately need them.

[AriesIV10]

Here is an interesting article of acceptance of Bitcoin:

http://strategictechinvestor.com/wp-content/uploads/2016/03/TheGoldofTechPortfolioInsurance.pdf

[ekoice]

There is potential here, but getting rid of all the banks? No they are too powerfull although i see it happening that banks will go bankrupt since more users will avoid them.
But since banks sell services like mortgages, insurancies etc. They where will be a place for them.

In my opinion banks can not get disappeared since they offer so many services like mortgages and loans etc. where as bitcoins are different as well as banks are very much available like bitcoins online thru ATMs and online banking as well.

[Akupuniard]

There is potential here, but getting rid of all the banks? No they are too powerfull although i see it happening that banks will go bankrupt since more users will avoid them.
But since banks sell services like mortgages, insurancies etc. They where will be a place for them.

In my opinion banks can not get disappeared since they offer so many services like mortgages and loans etc. where as bitcoins are different as well as banks are very much available like bitcoins online thru ATMs and online banking as well.

I am agreee with you, banks can't dissapear and bitcoin can't make them dissapear. To make banks dissapear people should stop taking loans and other stuff.

[bamboylee]

Bank generally won't dissapear, there is no chanse, but bitcoin is crypto currency and it has potential to be dissapeared but I think that goverment need bitcoin and it won't dissapear until they need.

Government does not need bitcoin, it already have fiat. We need bitcoin, it sets us free front the control of fiat. We will not let the government close.down bitcoin. We have kept it alive for 10 years, we can keep it alive for more years to come.

[uname]

I thought it could not. for now. This is a stupid thing. bitcoin is a currency which could possibly be an option to bank deposits if one day it happened? nothing that requires two fought ?

[mookid]

As my understanding of Bitcoin matured, I began to saw this 'replacement' scenario more and more unlikely, Banks will use Blockchain tech to make a new settlement system between themselves, with a little bit of luck, Bitcoin will remain relevant by then.
There is a strong movement of Bitcoiners (especially pundits, thinkers, and other Cryptographers) that began a campaign to claim that Bitcoin is the one and only platform that can guarantee the benefit that Blockchain entails, as a Bitcoin user I can sympathize with their arguments, but it is clear that some of them trashtalk private blockchain because the have interests and investments in Bitcoin

[saiha]

I thought it could not. for now. This is a stupid thing. bitcoin is a currency which could possibly be an option to bank deposits if one day it happened? nothing that requires two fought ?

I don't think this will very happening, it may happen for some instance but percentage of this to be happening is very poor. Banks would rather choose to the fiat money because people used to it. And it has been use for a very long time.

[jerelimZ]

I thought it could not. for now. This is a stupid thing. bitcoin is a currency which could possibly be an option to bank deposits if one day it happened? nothing that requires two fought ?

I don't think this will very happening, it may happen for some instance but percentage of this to be happening is very poor. Banks would rather choose to the fiat money because people used to it. And it has been use for a very long time.

Exactly, people have more faith in banks and fiat currency, and they will continue to use it in future too as any digital currency cannot replace banks so easily.

[Hazir]

There is potential here, but getting rid of all the banks? No they are too powerfull although i see it happening that banks will go bankrupt since more users will avoid them.
But since banks sell services like mortgages, insurancies etc. They where will be a place for them.

There is now way that all banks will go simultaneously bankrupt. And even if some of them will suffer from some future economic crisis new banks will emerge from the ashes.
Economy can't stand void. And I am sure that society is not ready to get rid of banks in the first place.

[romero121]

I thought it could not. for now. This is a stupid thing. bitcoin is a currency which could possibly be an option to bank deposits if one day it happened? nothing that requires two fought ?

I don't think this will very happening, it may happen for some instance but percentage of this to be happening is very poor. Banks would rather choose to the fiat money because people used to it. And it has been use for a very long time.

Exactly, people have more faith in banks and fiat currency, and they will continue to use it in future too as any digital currency cannot replace banks so easily.

Right now people believe and have much faith upon banks , as people were not much aware of the bitcoin and the digital currencies that's been used in most countries. Soon situation might change when adoption goes high.

[opossum]

I thought it could not. for now. This is a stupid thing. bitcoin is a currency which could possibly be an option to bank deposits if one day it happened? nothing that requires two fought ?

I don't think this will very happening, it may happen for some instance but percentage of this to be happening is very poor. Banks would rather choose to the fiat money because people used to it. And it has been use for a very long time.

Exactly, people have more faith in banks and fiat currency, and they will continue to use it in future too as any digital currency cannot replace banks so easily.

Right now people believe and have much faith upon banks , as people were not much aware of the bitcoin and the digital currencies that's been used in most countries. Soon situation might change when adoption goes high.

People will prefer to use both in future, as both have their own advantages, if a person needs a loan in emergency then only bank can help him.

[dhimasnk]

I think bitcoin was unable to make the bank because the bank lost an important institution in the world economy

[harizen]

I thought it could not. for now. This is a stupid thing. bitcoin is a currency which could possibly be an option to bank deposits if one day it happened? nothing that requires two fought ?

I don't think this will very happening, it may happen for some instance but percentage of this to be happening is very poor. Banks would rather choose to the fiat money because people used to it. And it has been use for a very long time.

Exactly, people have more faith in banks and fiat currency, and they will continue to use it in future too as any digital currency cannot replace banks so easily.

Right now people believe and have much faith upon banks , as people were not much aware of the bitcoin and the digital currencies that's been used in most countries. Soon situation might change when adoption goes high.

It's not about being faith in banks.

It's just a matter that bitcoin can't really touch all those people even they like to use it as bitcoin can only be accessed online since it's digital currency.