Can Bitcoin make Banks disappear?

[BitcoinPC]

Bitcoin can not make banks disappear.Bitcoin is cost effective and offer decentralization with freedom of use than banks.the real problem is with its limited supply which can not handle universal demand.This is the reason banks took blockchain technology and preparing them for new eras challenges.Bitcoin will have central position in new co-exist system in future with banks.

I agree it is very hard for bitcoin to make the banks disappear. It is just going to be possible if the whole world is going to use bitcoin.
But as of today, that is very impossible thing to happen.

Things which seems impossible to happen in the present are due to human mind cant see the change coming in the bigger picture.
Once there was bartar system in which people exchanged goods for goods and people at that time could not think that there can be any paper printed cash which will be used for transactions.

Same is the situation with bitcoins. People today think there are a lot of limitations for banks to disappears like there is not technology every where and no internet available all times to process bitcoins and then delay confirmation times etc etc.

Belive me or not, our next generation will see this change. No banks and only Bitcoins.

[lienfaye]

For me no i think bank will not disappear even all country will use bitcoin . Bank will still use to the people who scared in the volatility in bitcoin and they don't want to lose any single cents when bitcoin go lower. Much better if bank and bitcoin support each other.

Yeah though bitcoins are quite popular but it is still not widely accepted and i think the possibility for bitcoin to make banks disappear are quite low. it would be better if banks realize the potential of bitcoins and come up with a strategy to co exist with bitcoin.

[Wendigo]

Bitcoin vs Banks seems to be the never-ending battle around here. I think the future lies in cooperation and integration and not into assimilation and disintegration if you know what I mean. Banks have been around for so long and even they are implementing Blockchain technology in their systems because the addition of different technologies will make the final product better and benefit the end user. I think we should stop with this animosity and think outside the box. It's not about them vs us. On the contrary, it's more about how we could benefit from all the cards on the table.

[Altcoinmoney]

I dont think this can be true because how do you think they would make banks disappear that the wallets will be the banks i dont think so because
banks make sure that your money is save and wallets not secured.

[Galiatram]

There are allot of people telling me that they think that bitcoin can conquer the world and make banks disappear and other bullshit i know you like the bitcoin all but that much
i dont think he will be very big in the future so dont think that.

[drwtsn32]

I don't think so. Banks are the foundation of money in general.
Soon enough, banks may actually use bitcoin as one of the main currencies.

[eddyubachs]

I don't think so. Banks are the foundation of money in general.
Soon enough, banks may actually use bitcoin as one of the main currencies.

That is possible that banks will start adopting bitcoin, but there is no chance that bitcoin can replace banks as the size of banking system is too huge, comparatively bitcoin is still too small.

[BTCLovingDude]

I don't think so. Banks are the foundation of money in general.
Soon enough, banks may actually use bitcoin as one of the main currencies.

That is possible that banks will start adopting bitcoin, but there is no chance that bitcoin can replace banks as the size of banking system is too huge, comparatively bitcoin is still too small.

banks will eventually start to accept the fact that bitcoin is greater than they are and if the day comes that bitcoin becomes so much more famous then that day banks will also adopt bitcoin just because they wouldn't want to be left behind.

[Pwerd]

I think there are two factors here. The banking/debt crisis, and the emergence of crypto-currencies. It won't be Bitcoin that will destroy the banks, it will be the politicians who are taking bribes to allow rubbish derivatives to be created, and then allowing bail-ins for the banks to cover their fraudulent lending, who will cause the demise and re-structuring of banking. Bitcoin will just be one of the emerging solutions/replacements.

Not sure what I'm talking about? Look at the recent permission to allow fracking in the UK, and the bail-in of Cyprus and the Greek banking theft to help DoucheBank.

I just want to use wallets because i pay so many things with bitcoins these days. There are so many stores where i can finally pay with my coins i have so many of them i don't want to hold them for ever so i'm very glad that i could use them to buy all thing in life.

[Dwetha]

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?

Banks as WE know it may disappear, but banks generally will not disappear.

off course you would pick the bank for sure. Bitcoin wallet these days are not even secured enough to be used. So people use bank accounts it's many times saver and you can store anything that you want without any risk.

[shinratensei_]

I don't think so. Banks are the foundation of money in general.
Soon enough, banks may actually use bitcoin as one of the main currencies.

That is possible that banks will start adopting bitcoin, but there is no chance that bitcoin can replace banks as the size of banking system is too huge, comparatively bitcoin is still too small.

I not sure if the bank is possible to adopt bitcoin because bitcoin have a different section with them, maybe they can use the blockchain system to upgrade their system on the bank to improve their service for the customer. I sure bank never interested with bitcoin but they hate bitcoin.

[pearnapple]

I don't think so. Banks are the foundation of money in general.
Soon enough, banks may actually use bitcoin as one of the main currencies.

i doubt that you are not right about it, banks surely can make a lot of banks disappear, in my opinion it will grow really huge in the future, i think the price will make banks disappear

[Adrayrd]

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?

Bitcoin cant make banks disappear because banks are not using bitcoins and otherwise also not they are investing into the bitcoin by them self
so i dont think they would change money into bitcoins.

[woola3]

I think the banks will be the first to adopt blockchain technology. So, no in the short term banks will win. But in the long term when people start to realize what hides behind this new banking system , bitcoin will be the real winner.

[peta4e]

I think the banks will be the first to adopt blockchain technology. So, no in the short term banks will win. But in the long term when people start to realize what hides behind this new banking system , bitcoin will be the real winner.

That is never possible, bitcoin is not yet powerful that it can make strongest financial institution disappear, banks are the first priority of people and it will continue in future too.

[Xester]

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?

Bitcoin can not make banks disappear. Banks will just evolve and adjust to the recent financial digital trend using cryptocurrency. The proper term to say is that banks will reduce its power over the currency. Hence they will be focused on lending and  other activities but not fully compared to the fiat currency which they rule with supremacy

[avw1982]

I think the banks will be the first to adopt blockchain technology. So, no in the short term banks will win. But in the long term when people start to realize what hides behind this new banking system , bitcoin will be the real winner.

I don't think it can fully make banks disappear or unusable, However I think it can be a huge potential currency in the world mainly online world and be one of the top payment exchange systems in the world.

[ElpadroBitcoin]

I think the banks will be the first to adopt blockchain technology. So, no in the short term banks will win. But in the long term when people start to realize what hides behind this new banking system , bitcoin will be the real winner.

I don't think it can fully make banks disappear or unusable, However I think it can be a huge potential currency in the world mainly online world and be one of the top payment exchange systems in the world.

No way, Banks are b far too powerful for that. They have people lobbying in every government trying to get rid of bitcoin as we speak.
Never will they allow bitcoin to become too big.

[Doamader]

The thing more sure to happen is the real banks offer some service around bitcoin, they can work as some projects with a third companie exchanging the coin at the current market price and bank would get the fiat value, witht the possibility to get the bitcoin value on that day.

[woola3]

I think the banks will be the first to adopt blockchain technology. So, no in the short term banks will win. But in the long term when people start to realize what hides behind this new banking system , bitcoin will be the real winner.

I don't think it can fully make banks disappear or unusable, However I think it can be a huge potential currency in the world mainly online world and be one of the top payment exchange systems in the world.

No way, Banks are b far too powerful for that. They have people lobbying in every government trying to get rid of bitcoin as we speak.
Never will they allow bitcoin to become too big.

Yes, but how can they stop it? I mean they can close trading or selling sites but they can't block the btc network. What if btc builds a blockchain exchange like the one nxt has?  I believe cryptocurrencies will be tough opponents, their adaptability is too great for a checkmate move.