Can Bitcoin make Banks disappear?

[virasisog]

The bitcoin and the blockchain technology will cut the cost for the banks. They can make more profit by adopting it.

[wearepoor]

I believe bitcoins will make banks disappear, but it will take a long time as the centralized system won't give in so easily. Decentralized system is the future, but centralized system wont' give up without a fight.

I don't think that Banks will be disappear as they have build the trust among the people, people are looking at bank to keep their money safe and for making big amount transactions. Bitcoin doesn't have that reputation, it will be popular and be important part of the global currency but it will never replace banks.

[pandalion98]

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?

Yes, totally.

Bitcoin is being run by the people. The banks simply depend on the people. Banks are run by someone else but bitcoin is run by everyone.

If people suddenly don't trust those that are running the banks, it would disappear.

If BTC were suddenly abandoned by people, it would still technically exist because not all would abandon it.

[partysaurus]

dont think banks will disapear , but they will change focus in someway , and they have to adapt.

[Ryananda]

I believe bitcoins will make banks disappear, but it will take a long time as the centralized system won't give in so easily. Decentralized system is the future, but centralized system wont' give up without a fight.

I don't think that Banks will be disappear as they have build the trust among the people, people are looking at bank to keep their money safe and for making big amount transactions. Bitcoin doesn't have that reputation, it will be popular and be important part of the global currency but it will never replace banks.

Yes absolutely right banks will not disappear because the banks will certainly always be updated with the times. So he could follow developments and could definitely compete. Very unlikely bitcoin could eliminate banks.

[saiha]

I believe bitcoins will make banks disappear, but it will take a long time as the centralized system won't give in so easily. Decentralized system is the future, but centralized system wont' give up without a fight.

I don't think that Banks will be disappear as they have build the trust among the people, people are looking at bank to keep their money safe and for making big amount transactions. Bitcoin doesn't have that reputation, it will be popular and be important part of the global currency but it will never replace banks.

Yes absolutely right banks will not disappear because the banks will certainly always be updated with the times. So he could follow developments and could definitely compete. Very unlikely bitcoin could eliminate banks.

Making banks disappear is very impossible thing to happen. And it is very important in a government.
I don't think the government will allow that to happen, as banks are playing an important role in the economy of a country.

[goinmerry]

I believe bitcoins will make banks disappear, but it will take a long time as the centralized system won't give in so easily. Decentralized system is the future, but centralized system wont' give up without a fight.

I don't think that Banks will be disappear as they have build the trust among the people, people are looking at bank to keep their money safe and for making big amount transactions. Bitcoin doesn't have that reputation, it will be popular and be important part of the global currency but it will never replace banks.

Yes absolutely right banks will not disappear because the banks will certainly always be updated with the times. So he could follow developments and could definitely compete. Very unlikely bitcoin could eliminate banks.

Making banks disappear is very impossible thing to happen. And it is very important in a government.
I don't think the government will allow that to happen, as banks are playing an important role in the economy of a country.

What you say is true. But maybe a lot of changes can happen to them. When people knew that they can also invest their money in something better then some may change on how they do it and that is a lost for them

[Imoote]

I believe bitcoins will make banks disappear, but it will take a long time as the centralized system won't give in so easily. Decentralized system is the future, but centralized system wont' give up without a fight.

I don't think that Banks will be disappear as they have build the trust among the people, people are looking at bank to keep their money safe and for making big amount transactions. Bitcoin doesn't have that reputation, it will be popular and be important part of the global currency but it will never replace banks.

Yes absolutely right banks will not disappear because the banks will certainly always be updated with the times. So he could follow developments and could definitely compete. Very unlikely bitcoin could eliminate banks.

Making banks disappear is very impossible thing to happen. And it is very important in a government.
I don't think the government will allow that to happen, as banks are playing an important role in the economy of a country.

Yes absolutely right banks holding the economy of a country and it is very important. If a country uses bitcoin I believe the country's economy is not stable. That will not happen bitcoin will make banks disappear.

[mrayazgul]

I believe bitcoins will make banks disappear, but it will take a long time as the centralized system won't give in so easily. Decentralized system is the future, but centralized system wont' give up without a fight.

I don't think that Banks will be disappear as they have build the trust among the people, people are looking at bank to keep their money safe and for making big amount transactions. Bitcoin doesn't have that reputation, it will be popular and be important part of the global currency but it will never replace banks.

Yes absolutely right banks will not disappear because the banks will certainly always be updated with the times. So he could follow developments and could definitely compete. Very unlikely bitcoin could eliminate banks.

Bitcoins cant make banks disappear any time soon

[JaRosti]

No, need banks

Banks cant disapear simple and easy.

[Nouelle-Hunter]

No .. Bank is a lot better in terms of security than bitcoins have ..  In banks you can assure your  money while in bitcoin for me its a little bit risky cause  bitcoin can be gone with just a click...

[Whosdaddy]

No .. Bank is a lot better in terms of security than bitcoins have ..  In banks you can assure your  money while in bitcoin for me its a little bit risky cause  bitcoin can be gone with just a click...

I wouldn't say that actually, since bank owners have the power to shut their banks without notice and suddenly go off the grid enjoying all his millions and billions of dollars of profits from the investors. Bitcoin, on the other hand, is dependent. The security depends on what wallet you are using.

[PemburuReceh]

i think banks still wil be nescessary wink, bitcoin will be just even more important next to it.

[FlipBit]

Some banks may offer bitcoin services through their private banking division.

[boyptc]

Some banks may offer bitcoin services through their private banking division.

This is possible actually here in our country the Central Bank is trying to consider bitcoin but I don't know when it will be implemented.
Bitcoin making banks disappear is impossible, but banks to adopt bitcoin is possible.

[Hide_ip112]

No, need banks

Banks cant disapear simple and easy.

true, that bank is one of the center of circulation of money throughout the world, so banks will not disappear. This time technological advances in the Bitcoin appears to provide the convenience of everybody in terms of the transaction, so the Bank is still required in the transaction.

[1Referee]

Some banks may offer bitcoin services through their private banking division.

This is possible actually here in our country the Central Bank is trying to consider bitcoin but I don't know when it will be implemented.
Bitcoin making banks disappear is impossible, but banks to adopt bitcoin is possible.

Theoretically banks indeed can simply adopt Bitcoin and start offering Bitcoin related services to the public. But the reality will be completely different. Why should they adopt something as Bitcoin that goes against all their values? They will never adopt something that they can't control with iron fist.

[greatr]

i think it is really possible if people will be buying a lot of bitcoins at a very rapid pace and if they will use it a lot

[boyptc]

Some banks may offer bitcoin services through their private banking division.

This is possible actually here in our country the Central Bank is trying to consider bitcoin but I don't know when it will be implemented.
Bitcoin making banks disappear is impossible, but banks to adopt bitcoin is possible.

Theoretically banks indeed can simply adopt Bitcoin and start offering Bitcoin related services to the public. But the reality will be completely different. Why should they adopt something as Bitcoin that goes against all their values? They will never adopt something that they can't control with iron fist.

But if they are going to see the potential of bitcoin that it can be a threat for their banking service. Instead of competing with it. They can just simply
adopt it and enjoy the service of it. Yes, they can't control bitcoin but they can adjust and think about something about that. As the foreign exchange,
is also hard to control but banks are able to manage it.

[bitcoin-hunter]

Yes the bitcoin can do this but it will take a lot of time without any doubts, the fact is that if the bitcoin has a good worth its gonna be easy.
It only needs to get a lot bigger these days!