Can Bitcoin make Banks disappear?

[PetroffVany]

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?

We need to look at history and you can make sure that the banking business is very old, and all the time there will appear as only people there will be, and no matter which currency will benefit people.

[romero121]

More users have quoted that bitcoin is far better than the old banking system, but due to the universal acceptance and access old banking system is preferred by most people than the highly advanced bitcoin or other digital currency transactions.

[Mr.grin]

I think before making banks disappear, bitcoin have to have a stable and secure storage, in addition bitcoin should also have all the advantages that are not owned by the bank, they should be quickly and easily understood by the layman, because not many people know how to using bitcoin

[AlanDiz]

In Kenya we dont have da banks much....  The coins are catching on man. We are a few years from this taking da world.

For the hackers its all ez money.

[Vikingr]

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

Due to a lot of issues with banks in our country , bitcoin is really a very better system of financing for me, I don't face any issue with bitcoin and I am feeling relaxed and easy with this system of payment and currency.

[zodin]

In Kenya we dont have da banks much....  The coins are catching on man. We are a few years from this taking da world.

For the hackers its all ez money.

it is really hard to believer that in such a modern age there is present such a state in the world where there is no concept of banks, i cannot believer that, i think kenya is not such back word country it is also a fact that they are facing some financing issues be it does not mean that there will be present no bank, banks must be present there but the users of banks will be a few,

[danherbias07]

In Kenya we dont have da banks much....  The coins are catching on man. We are a few years from this taking da world.

For the hackers its all ez money.

it is really hard to believer that in such a modern age there is present such a state in the world where there is no concept of banks, i cannot believer that, i think kenya is not such back word country it is also a fact that they are facing some financing issues be it does not mean that there will be present no bank, banks must be present there but the users of banks will be a few,

I think he says not much bank which means there is but rarely. One more thing is are those banks connected to bitcoin so that they can withdrew? Imagine you have a bitcoin earning online but cannot materialize it to a fiat. That hurts.

[jak3]

banks are the one who started the money flow they started the paper money system and they are controlling our life in very huge scale. we know on every country there are many banks so they will not stop easily because of bitcoin or anything even if they know what is it exactly

[bravehearth0319]

In my assesment Bitcoin actually is not competing anyone, whether in advertising business, remmitances, credit card company or any banks. And we know that many banks are totally established already. therefore bitcoins is not intend to compete any banks instead in my opinion its a good tandem actually, and both benefited to one another in the near future,..So my conclusion was Bank will not be dissapear.

[GamingBro]

I don't think so, bitcoins and banks nowdays is not linked words, i believe that someday many countries will accept bitcoins and banks will die.

[universe_]

In Kenya we dont have da banks much....  The coins are catching on man. We are a few years from this taking da world.

For the hackers its all ez money.

well i hope that african countries will adopt to bitcoins pretty fast, it doesnt require any banks and it would be really great for both people and the currency

[StoreBit]

I don't think so, bitcoins and banks nowdays is not linked words, i believe that someday many countries will accept bitcoins and banks will die.

yes i also thing so i think bitcoin cannot disappear banks, because banks run on fiat money and fiat money is our basing necessity, to me if banks accept bitcoin the banks will become the most profitable department of the state because there is so much potential in the market of bitcoin and still a lot of people are trading bitcoin and if they use banks for that they have to pay a lot of commission to banks, which will increase the income of the banks,

[cookiemonster07]

You might be wrong. Because bitcoin is not a single factor baseded system.I would bet that it will never happen although bitcoin has a large user, it will not make banks be disappearing.
if fiat continue as usual banks will follow in order to stay afloat.That is right. The banks will always make money and use whatever currency that makes money. There is no exception

happyearnings

[JeffBrad12]

I don't think so, bitcoins and banks nowdays is not linked words, i believe that someday many countries will accept bitcoins and banks will die.

Will bank die?every time, the countries will always need a bank and also with bitcoin. if the bank gonna to die and where you can get the value for bitcoin?just seeing in this time the bitcoin is always reliable with the fiat money become they standing.

[Naughtid]

I don't think so, bitcoins and banks nowdays is not linked words, i believe that someday many countries will accept bitcoins and banks will die.

Will bank die?every time, the countries will always need a bank and also with bitcoin. if the bank gonna to die and where you can get the value for bitcoin?just seeing in this time the bitcoin is always reliable with the fiat money become they standing.

The banks will not die. They will adapt to the new environment and adopt the bitcoin and make more profit.

[PanZerrr]

I don't think so, bitcoins and banks nowdays is not linked words, i believe that someday many countries will accept bitcoins and banks will die.

Will bank die?every time, the countries will always need a bank and also with bitcoin. if the bank gonna to die and where you can get the value for bitcoin?just seeing in this time the bitcoin is always reliable with the fiat money become they standing.

Guys, the banking system was born a long time ago. Even in another way, but nevertheless all the banks will continue to exist, and even if such a global bitcoin takes place in the financial world, banks will undoubtedly adapt to the change in such rates. Many have read about the history of the banking system, so that they know its not fall.

[noictib]

i think no . because there is less trust on the buy sell of btc in online market . and not every product is avaliable to buy through btc so i think bank can never be disappear due to popularity of bitcoins .

[diodio5]

In Kenya we dont have da banks much....   The coins are catching on man. We are a few years from this taking da world.

For the hackers its all ez money.

Lol yeah in poor countries (im sorry) very few banks that exist. so I think this is an opportunity for bitcoin to be touched to the small country. their currencies had a very low price. so maybe bitcoin could overtake their currencies. and bitcoin could be your country's currency Lol

[coinoclock]

i am new to bitcoin, but right now banks provide some services bitcoin can't and also wont be able to in the future. stuff like a safe deposit box.
they will most likely have to adopt to the new situation but they have enough time to do it, so i don't think they will disappear.

[iqlimasyadiqa]

i am new to bitcoin, but right now banks provide some services bitcoin can't and also wont be able to in the future. stuff like a safe deposit box.
they will most likely have to adopt to the new situation but they have enough time to do it, so i don't think they will disappear.

bitcoin financial system is more to digital and transparency. so we can not hold the money physically. eg, safe deposit box, bitcoin does not have it. the most important thing when it have bitcoin wallet account is to saving us safely.