Can Bitcoin make Banks disappear?

[stadus]

I don't think Bitcoin can make banks to disappear.  The main reason is that bank exist not because of curreny/ money transaction alone.  Bank exist to function as vault to some wealthy customer.  Bank store gold, documents, important stuff and get paid for it.  So even if Bitcoin replace money, it won't replace Bank functions.  So bank is here to stay.

yeah it's true but the main focus of the bank is about storing money , so if the money storing in bank will be disappeared the bank owners will be zest in future because in bitcoin or maybe they will switch to bitcoin business.

If the banks offer me some interest and can make sure my bitcoin is safe there, I will use a bitcoin bank.

There is no such thing as bitcoin bank because bitcoin does not need bank. We deposit in blockchain and that is our bank. Just trust blockchain and you will feel comfortable with your savings.

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[hawkins]

I don't think Bitcoin can make banks to disappear.  The main reason is that bank exist not because of curreny/ money transaction alone.  Bank exist to function as vault to some wealthy customer.  Bank store gold, documents, important stuff and get paid for it.  So even if Bitcoin replace money, it won't replace Bank functions.  So bank is here to stay.

yeah it's true but the main focus of the bank is about storing money , so if the money storing in bank will be disappeared the bank owners will be zest in future because in bitcoin or maybe they will switch to bitcoin business.

If the banks offer me some interest and can make sure my bitcoin is safe there, I will use a bitcoin bank.

There is no such thing as bitcoin bank because bitcoin does not need bank. We deposit in blockchain and that is our bank. Just trust blockchain and you will feel comfortable with your savings.

you're right, bitcoin does not require bank. but I think banks are still bigger in comparison with bitcoin for now. I guess everyone needs a bank but not all users require bitcoin bank, that's his perception. so maybe this time bitcoin bank can not make disappear unless the bank is required by everyone

[romero121]

As most users quoted banks won't get disappeared in a short or long run. Banking has got a separate place in worldwide economy which won't go vanished due to existence of digital currencies which were in strong competence to have a secured place.

[bitdumper]

there is no dought that bitcoin is better than old bank systems , we finally had  a money system which is  ours and yes bitcoincan make  banks disapper but we still need faint currency in existence or our government or banks will be extent and it can cause a un balance budget in our country which can effect us

[btvGainer]

I'm a fan of Bitcoin, but I don't think so. These banks are like a plague, and some of them are adopting blockchain technology.

Dude, you are calling banks a plague but it's just cause you are a bitcoin fun I think that bitcoin will be accepted by some countries and become a fiat.

The success of bitcoin doesn't lie in replacing the banks but in its co-existence.Bitcoin needs universal acceptence which is possible only when banks start accepting bitcoins and or converting them into local currency

[miike999]

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.

"thumbs up"
you are exactly right

[Ravion]

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 would not disappear. Maybe the way banking works might become different, but even that is a remote possibility.

What you need to remember is that banking is big business. If bitcoin were to cause the banking industry problems, the banks would fight against bitcoin. And they would wage that war through government; By using legislation to keep bitcoin from causing problems to their industry. And government would happily play along.

[boyptc]

there is no dought that bitcoin is better than old bank systems , we finally had  a money system which is  ours and yes bitcoincan make  banks disapper but we still need faint currency in existence or our government or banks will be extent and it can cause a un balance budget in our country which can effect us

It is very impossible that bitcoin is going to make banks disappear as the banks are playing a very important role to a country's government.
they are needed in the circulation of money in a economy. But I know there are things that we need to consider that we can't say in the future
and changes are possible either.

[dotajhay]

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 would not disappear. Maybe the way banking works might become different, but even that is a remote possibility.

What you need to remember is that banking is big business. If bitcoin were to cause the banking industry problems, the banks would fight against bitcoin. And they would wage that war through government; By using legislation to keep bitcoin from causing problems to their industry. And government would happily play along.

it's true maybe the bank features will change due to popularity of bitcoins in the future but the bank will not dissapear because it has many benefits not only putting money to your bank.

[Shibashi Dogemoto]

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 would not disappear. Maybe the way banking works might become different, but even that is a remote possibility.

What you need to remember is that banking is big business. If bitcoin were to cause the banking industry problems, the banks would fight against bitcoin. And they would wage that war through government; By using legislation to keep bitcoin from causing problems to their industry. And government would happily play along.

it's true maybe the bank features will change due to popularity of bitcoins in the future but the bank will not dissapear because it has many benefits not only putting money to your bank.

Yeah we cannot ignore the fact that banks holds more benefits and facilities over bitcoin, and that is the reason people will never quit banks, in fact they will prefer to use both.

[Maesters1-]

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 would not disappear. Maybe the way banking works might become different, but even that is a remote possibility.

What you need to remember is that banking is big business. If bitcoin were to cause the banking industry problems, the banks would fight against bitcoin. And they would wage that war through government; By using legislation to keep bitcoin from causing problems to their industry. And government would happily play along.

yes banks will never disappear. but i think bank and wallet will work together. they will be really helpful for each other. and may be banks become more prfitalbe once they accept bitcoin.

[ironm@n]

I'm a fan of Bitcoin, but I don't think so. These banks are like a plague, and some of them are adopting blockchain technology.

Dude, you are calling banks a plague but it's just cause you are a bitcoin fun I think that bitcoin will be accepted by some countries and become a fiat.

The success of bitcoin doesn't lie in replacing the banks but in its co-existence.Bitcoin needs universal acceptence which is possible only when banks start accepting bitcoins and or converting them into local currency

Not all, there are some of them using blockchain technology as I said.
I consider a plague only the institutions against Bitcoin, decentralized economics and Blockchain as a Service (BaaS).

[avw1982]

Bitcoin will takes more times to replace the Bank and its services, people need bank to store their money and earn interest from it.and bank play important role to person and economy of a country.  i think we might have bank for bitcoin someday to regulate it and also for security. i guess. because of anonymity of bitcoin we really need a bank.

[danherbias07]

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 would not disappear. Maybe the way banking works might become different, but even that is a remote possibility.

What you need to remember is that banking is big business. If bitcoin were to cause the banking industry problems, the banks would fight against bitcoin. And they would wage that war through government; By using legislation to keep bitcoin from causing problems to their industry. And government would happily play along.

yes banks will never disappear. but i think bank and wallet will work together. they will be really helpful for each other. and may be banks become more prfitalbe once they accept bitcoin.

They will be the one profiting from all of this. So why not? If I am a bank owner I would consider accepting bitcoin in my company or some wallet that wants to connect with my bank.

[1Referee]

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 would not disappear. Maybe the way banking works might become different, but even that is a remote possibility.

What you need to remember is that banking is big business. If bitcoin were to cause the banking industry problems, the banks would fight against bitcoin. And they would wage that war through government; By using legislation to keep bitcoin from causing problems to their industry. And government would happily play along.

yes banks will never disappear. but i think bank and wallet will work together. they will be really helpful for each other. and may be banks become more prfitalbe once they accept bitcoin.

Banks will never adopt/incorporate something that they have zero control over. And let's say the bank is willing to do this (won't happen), then there is still the government that can get in their way. Just let the idea go.

[Ryananda]

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 would not disappear. Maybe the way banking works might become different, but even that is a remote possibility.

What you need to remember is that banking is big business. If bitcoin were to cause the banking industry problems, the banks would fight against bitcoin. And they would wage that war through government; By using legislation to keep bitcoin from causing problems to their industry. And government would happily play along.

yes banks will never disappear. but i think bank and wallet will work together. they will be really helpful for each other. and may be banks become more prfitalbe once they accept bitcoin.

Banks will never adopt/incorporate something that they have zero control over. And let's say the bank is willing to do this (won't happen), then there is still the government that can get in their way. Just let the idea go.

Yes I think the bank will not adopt bitcoin as I am sure the bank continues to issue its own system. Bitcoin will not make disappear the bank because the bank has the power of government and as a reference for the economy of a country.

[virasisog]

Yes I think the bank will not adopt bitcoin as I am sure the bank continues to issue its own system. Bitcoin will not make disappear the bank because the bank has the power of government and as a reference for the economy of a country.

If the banks are allowed to use the bitcoin, they will use it. As that will cut their operating cost and make more profit.

[Bameras]

Yes I think the bank will not adopt bitcoin as I am sure the bank continues to issue its own system. Bitcoin will not make disappear the bank because the bank has the power of government and as a reference for the economy of a country.

If the banks are allowed to use the bitcoin, they will use it. As that will cut their operating cost and make more profit.

I think the bitcoin will adopt the bitcoin as soon as they are allowed to do so. The obstacle is the central banks.

[Sniper44]

Yes I think the bank will not adopt bitcoin as I am sure the bank continues to issue its own system. Bitcoin will not make disappear the bank because the bank has the power of government and as a reference for the economy of a country.

If the banks are allowed to use the bitcoin, they will use it. As that will cut their operating cost and make more profit.

banks will only use bitcoin if it is profitable for them somehow, otherwise bitcoin is threatening their existence and can potentially replace them.

also so far they have only shown interest in adopting the blockchain not the bitcoin itself.

[serjent05]

Yes I think the bank will not adopt bitcoin as I am sure the bank continues to issue its own system. Bitcoin will not make disappear the bank because the bank has the power of government and as a reference for the economy of a country.

If the banks are allowed to use the bitcoin, they will use it. As that will cut their operating cost and make more profit.

banks will only use bitcoin if it is profitable for them somehow, otherwise bitcoin is threatening their existence and can potentially replace them.

also so far they have only shown interest in adopting the blockchain not the bitcoin itself.

It is true that banks somehow threatens some functions of bank, but, do you know banks are clever?  Even at disadvantage, people managing it can actually make it to their advantage.  That is how fluid banking system when it comes to making profit is.  they can adopt to at least any situation if it favors them.