Can Bitcoin make Banks disappear?

[hawkins]

I dont think there will be any new paying method that will make banks disappear so also bitcoin wont make that happen. There will maybe in the future be bitcoin banks if he grows fast but we will see.

I feel that it is impossible bitcoin will make the bank disappears, the current is very obvious that the bank is still better than bitcoin, I think is very much to be changed in order bitcoin bank can make disappear

[jossiel]

I dont think there will be any new paying method that will make banks disappear so also bitcoin wont make that happen. There will maybe in the future be bitcoin banks if he grows fast but we will see.

I feel that it is impossible bitcoin will make the bank disappears, the current is very obvious that the bank is still better than bitcoin, I think is very much to be changed in order bitcoin bank can make disappear

Yeah that's right, bank will still be better than bitcoin because it is the one that the government needs. But still, I'm hoping that banks will
adopt the concept of bitcoin and going to accept bitcoins to their services.

[RhodaGila]

I guess not, they will think a million times to do it, except bitcoin and bank side by side, but the government's role is very important here to be able to legalize bitcoin as a whole

[gerXhonza]

I guess not, they will think a million times to do it, except bitcoin and bank side by side, but the government's role is very important here to be able to legalize bitcoin as a whole

Honest governments will always support bitcoins as it can grow their economy but that's hard to predict that any government will stand tall with bitcoin.

[jossiel]

I guess not, they will think a million times to do it, except bitcoin and bank side by side, but the government's role is very important here to be able to legalize bitcoin as a whole

I don't it government will legalize bitcoin, but since there are speculations and conspiracy that in the future the monetary scene, would be
cashless society and I'm thinking that bitcoin would be the currency used for it.

[mark coins]

I guess not, they will think a million times to do it, except bitcoin and bank side by side, but the government's role is very important here to be able to legalize bitcoin as a whole

I don't it government will legalize bitcoin, but since there are speculations and conspiracy that in the future the monetary scene, would be
cashless society and I'm thinking that bitcoin would be the currency used for it.

You cannot expect the cashless society ever in future as that seems to be impossible as banks will always survive in future too and there is no competitor to the banking system.

[pereira4]

I guess not, they will think a million times to do it, except bitcoin and bank side by side, but the government's role is very important here to be able to legalize bitcoin as a whole

I don't it government will legalize bitcoin, but since there are speculations and conspiracy that in the future the monetary scene, would be
cashless society and I'm thinking that bitcoin would be the currency used for it.

You cannot expect the cashless society ever in future as that seems to be impossible as banks will always survive in future too and there is no competitor to the banking system.

What does a cashless society have to do with banks surviving or not?
Cash will be removed in less than 10 years, this does not mean banks will disappear, but Bitcoin use will skyrocket because a lot of people will not be able to pay all taxes, so they will need a new way to keep working for cash, and since there will be no cash, they will work for Bitcoin.

[bamboylee]

Banks will not disappear at any cost.
Bitcoin will stay at its position and bank will at there.
Maybe someday banks/governments may invest in bitcoin..

I don't think governments will invest directly in Bitcoin as there is nothing with Bitcoin that interests them as Bitcoin stands for freedom. Governments want something where they remain their full control over the entire financial industry. Bitcoin can't offer that to them.

Exactly. Bitcoin is the exact opposite  of what the current banking system is doing. Bitcoin is trying to free us from the grasp of the banks and the government. While the banks are trying to control us thru high interest loans and credit cards. I do not think bitcoin will totally eradicate the banks but at least it can provide us an alternative.

[Ryananda]

Banks will not disappear at any cost.
Bitcoin will stay at its position and bank will at there.
Maybe someday banks/governments may invest in bitcoin..

I don't think governments will invest directly in Bitcoin as there is nothing with Bitcoin that interests them as Bitcoin stands for freedom. Governments want something where they remain their full control over the entire financial industry. Bitcoin can't offer that to them.

Exactly. Bitcoin is the exact opposite  of what the current banking system is doing. Bitcoin is trying to free us from the grasp of the banks and the government. While the banks are trying to control us thru high interest loans and credit cards. I do not think bitcoin will totally eradicate the banks but at least it can provide us an alternative.

Yes true if bitcoin can give us an alternative I agree with you, but if bitcoin could make banks disappear or replace it will not be possible.
Since both are very different.

[Dwelach]

I think it cannot let banks disappear its just too much for the bitcoin. The fact is that the banks are to strong to lose and too many people are also depending on a bank.

[Lokfar]

I guess not, they will think a million times to do it, except bitcoin and bank side by side, but the government's role is very important here to be able to legalize bitcoin as a whole

I don't it government will legalize bitcoin, but since there are speculations and conspiracy that in the future the monetary scene, would be
cashless society and I'm thinking that bitcoin would be the currency used for it.

You cannot expect the cashless society ever in future as that seems to be impossible as banks will always survive in future too and there is no competitor to the banking system.

It is only possible if you can make Bitcoin used by everyone and that is because you also can see now that the Bitcoin is becoming more popular and more worth so that is nice.
But you dont know what will happen for sure and maybe you should have to promote it more.

[Fofofolo]

thats a good thought banks will never go away not because of the coin that is for sure. But there will be one point in life when the coin is just as big as the normal gold.

[bamboylee]

thats a good thought banks will never go away not because of the coin that is for sure. But there will be one point in life when the coin is just as big as the normal gold.

I hope that time pass in our lifetime. But even if bitcoin reach gold level, I doubt it will eradicate the banking system. Too many rich people and government will fight to help banking system live.

[Oralmat]

I guess not, they will think a million times to do it, except bitcoin and bank side by side, but the government's role is very important here to be able to legalize bitcoin as a whole

I don't it government will legalize bitcoin, but since there are speculations and conspiracy that in the future the monetary scene, would be
cashless society and I'm thinking that bitcoin would be the currency used for it.

You cannot expect the cashless society ever in future as that seems to be impossible as banks will always survive in future too and there is no competitor to the banking system.

Considering the current enviroment we cant even imagine a world without bitcoins. But then again nothing is impossible.  Who would have consider a digital currency like bitcoin to be so popular that it is $500 in worth, 5 years ago. So this whole banking system will come to an End and a digital system of bitcoin will replace it one day.

[jamesconroy4lyf]

Thinking that Bitcoin can annihilate banks out of existence is waaaay to over enthusiastic.  I'm totally sure that Bitcoin and cryptocurrency will disrupt and alter the financial markets far more in the future than at present, but to assume that Bitcoin can wipe banks off the planet totally ignores that banks are the cornerstone of a global economic architecture backed by the world's strongest and largest military forces.

[vero]

I guess not, they will think a million times to do it, except bitcoin and bank side by side, but the government's role is very important here to be able to legalize bitcoin as a whole

I don't it government will legalize bitcoin, but since there are speculations and conspiracy that in the future the monetary scene, would be
cashless society and I'm thinking that bitcoin would be the currency used for it.

You cannot expect the cashless society ever in future as that seems to be impossible as banks will always survive in future too and there is no competitor to the banking system.

yes there will probably be many competitors provide many options of the banking system in the future but in every country the bank is under the control of the government. this is the system we can't broke it.

[xIIImaL]

Thinking that Bitcoin can annihilate banks out of existence is waaaay to over enthusiastic.  I'm totally sure that Bitcoin and cryptocurrency will disrupt and alter the financial markets far more in the future than at present, but to assume that Bitcoin can wipe banks off the planet totally ignores that banks are the cornerstone of a global economic architecture backed by the world's strongest and largest military forces.

Bitcoin is a huge competitor with normal banks because once people know that with btc they can fully control their money and spend it whenever they want unlike banks which one does not have any control over his deposited money and banks may create restrictions and limits that prevent him from using his own money, once more people feel the difference, they will abandon banks.

[tampazeus]

I guess not, they will think a million times to do it, except bitcoin and bank side by side, but the government's role is very important here to be able to legalize bitcoin as a whole

I don't it government will legalize bitcoin, but since there are speculations and conspiracy that in the future the monetary scene, would be
cashless society and I'm thinking that bitcoin would be the currency used for it.

You cannot expect the cashless society ever in future as that seems to be impossible as banks will always survive in future too and there is no competitor to the banking system.

yes there will probably be many competitors provide many options of the banking system in the future but in every country the bank is under the control of the government. this is the system we can't broke it.

Yeah and Government will never allow bitcoin to get on the mainstream, as they will loose the control that hold on the fiat currency at a moment.

[Bizster]

Hi,

It's hard since mortar businesses need banks for Loans and also to get payments from clients or companies. Everyone or a significant percentage of people should adopt Bitcoin if we want to replace them for mainstream financial instruments.

The problem is: Non-tech people don't understand how it works, and they have fear. The only way to make Bitcoin mainstream is to have big companies promote them through ATM's. Bitcoin should be like VISA, and It should be accepted anywhere where there is a POS for a credit card.

After some years, it could replace VISA/MASTERCARD, but it needs to be easy to use, safe and legit in many countries. We know governments want money, and they need to avoid Money Laundering and Tax Evasion, and I think Bitcoin makes this point hard.

So basically every business should have a POS for Bitcoin and a way to convert those to Fiat asap like Bitpay.

I don't think Bitcoin can replace USD/GBP/EUR or any currency. It can be an excellent payment method.

Why it can't convert into a major currency?

Becuase it's very volatile right now, and businesses don't want to have this type of issue about knowing how many BTC their USD will be today or tomorrow, they just want a stable currency.

I love Bitcoin and the technology it has behind it. I hope bitcoin converts into a mainstream payment method so we can use it every day, until then...I just stick to USD fiat for my daily expenses.

Another thing we need to be aware is about security: We need safe and easy wallets for people who aren't tech enough to get a hardware wallet or even a cold storage. We need a solution for this, and it should be easy and free to put into practice.

Let me know your thoughts,
Bizster.

[jamesconroy4lyf]

Thinking that Bitcoin can annihilate banks out of existence is waaaay to over enthusiastic.  I'm totally sure that Bitcoin and cryptocurrency will disrupt and alter the financial markets far more in the future than at present, but to assume that Bitcoin can wipe banks off the planet totally ignores that banks are the cornerstone of a global economic architecture backed by the world's strongest and largest military forces.

Bitcoin is a huge competitor with normal banks because once people know that with btc they can fully control their money and spend it whenever they want unlike banks which one does not have any control over his deposited money and banks may create restrictions and limits that prevent him from using his own money, once more people feel the difference, they will abandon banks.

You must pay your taxes in fiat - this is principal means through which the monetary system grew, spread, and became entrenched.  I dont see BTC becoming the universal medium of taxation anytime soon.  This is in no way a criticism against Bitcoin, but a caution against losing track of sensible realism.  The state maintains a monopoly on legitimate violence [Weber], it can and will enforce its desired monetary form.  Bitcoin is an excellent alternative which exists concurrently to such, but will not replace such.