Can Bitcoin make Banks disappear?

[mammabitcoin2u]

Bitcoin cannot make banks disappear.  It CAN and is becoming a high competitor/alternative to fiat.  Reason banks cannot disappear is paper money/fiat has to be printed and can be printed.  BTC has a limit, (sadly) paper is limitless.

[Bitcoin0916]

Bitcoin cannot make banks disappear.  It CAN and is becoming a high competitor/alternative to fiat.  Reason banks cannot disappear is paper money/fiat has to be printed and can be printed.  BTC has a limit, (sadly) paper is limitless.

Yes I agree, bitcoin never make banks disappear but for reduce some transactions maybe yes. We still need banks anytime and anywhere

[8Habits]

Bitcoin cannot make banks disappear.  It CAN and is becoming a high competitor/alternative to fiat.  Reason banks cannot disappear is paper money/fiat has to be printed and can be printed.  BTC has a limit, (sadly) paper is limitless.

That is correct, fiat money paper is limitless and when the government decide on making more paper fiat money, they are creating inflation in the economy but they can really do that compared to bitcoins wherein it will stop producing once it reach 21 million bitcoins. Hence, bank will always be there as long as there are fiat money being made and printed.

[ethereumhunter]

Bitcoin cannot make banks disappear.  It CAN and is becoming a high competitor/alternative to fiat.  Reason banks cannot disappear is paper money/fiat has to be printed and can be printed.  BTC has a limit, (sadly) paper is limitless.

i think its true, bitcoin is not make bank disappear. as long as fiat still available among us, then bank will not disappear, but if finally bitcoin is integrated with bank and bank use blockchain technology for some reason, and decide to not use fiat anymore, then i think bank will still exist because there are many people still want to use bank, but bank here its not the same as bank as we know for now.

[randy8777]

Bitcoin cannot make banks disappear.  It CAN and is becoming a high competitor/alternative to fiat.  Reason banks cannot disappear is paper money/fiat has to be printed and can be printed.  BTC has a limit, (sadly) paper is limitless.

bitcoin is already an alternative currency. and to be exactly honest, i hope it will stay like this as i like the freedom that we have now. if bitcoin grows too large, then usage will be limited by governments by ridiculous policies. beside the fact that bitcoin can't replace banks and fiat, we should not hope for it to happen. bitcoin is here, so people should make use of it now.

[Mastsetad]

Banks got too much influence to dissapear. They are on the sidelines fighting to stop bitcoin's trend. First claiming bitcoin as their enemy but now launching their own blockchain solutions. So yeah with them being so influential I doubt bitcoin can make them dissapear.

Banks are now getting scared that they have a threat and they can see it to bitcoins. And if they aren't going do something about it for sure many clients of the banks are going to shift into using bitcoins. But the chance of making banks disappear by bitcoin is not going to happen. Because the government is not going to allow that.

I don't believe that the clients of banks would shift completely, but they might start putting some of their money from bank to bitcoin for earning profits with the time from the fluctuation of bitcoin, because right now people don't trust bitcoin as much as they trust banks.

[jacafbiz]

No it can disappear because not all roles been played by the banks is being offered by Bitcoin, Bitcoin can not provide a vault service for me to keep and secure my Gold or precious metals. the only thing is that it can only reduce the influence of these banks

[danherbias07]

No it can disappear because not all roles been played by the banks is being offered by Bitcoin, Bitcoin can not provide a vault service for me to keep and secure my Gold or precious metals. the only thing is that it can only reduce the influence of these banks

I think that is equivalent to cold storage or wallet. But when we are talking about physically robbing it then banks really have the upside with it. With our beloved golds, paper documents or old money that we think will have value in the future they can protect it really well.

[dhimasnk]

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?

can bitcoin bank can disappear? I think it's impossible. as you know, the bank is authorized financial institution which controls the country's economy. so it is not possible if the banks become disappear because bitcoin

[phreaky]

Ofcourse it may happen because bank is target in virtual transaction. Most of people interested in mobile transaction. Bitcoin was make bank interested to adopt blockchain. Bank wanna use technology like bitcoin. And i think if banks do that,it gonna be another altcoin.

Indeed but do you think banks would allow it to happen though. Banks run the world they have immense power especially the rotschild family.
Bitcoin would be banned everywhere before it could get close enough to destorying fiat and banks.

[Cresciuanto]

I believe it will in the future.

my be in future but not possible in present time, because banks are so stable in present time and most of the people are suing banks for their fiat money.

[perfect999]

I believe it will in the future.

my be in future but not possible in present time, because banks are so stable in present time and most of the people are suing banks for their fiat money.

You may mean to say that banks will lose its ability in future?
I don't think so that to happen, but bitcoin will test the stability of traditional banking system by its advantages and potential of being friendly to all the people in this world.

[bamboylee]

Banks got too much influence to dissapear. They are on the sidelines fighting to stop bitcoin's trend. First claiming bitcoin as their enemy but now launching their own blockchain solutions. So yeah with them being so influential I doubt bitcoin can make them dissapear.

Banks are now getting scared that they have a threat and they can see it to bitcoins. And if they aren't going do something about it for sure many clients of the banks are going to shift into using bitcoins. But the chance of making banks disappear by bitcoin is not going to happen. Because the government is not going to allow that.

I would disagree, banks are not threatened  on the existence of bitcoin since they are somehow assured that people  would really use their services and  in fact  banks are just storage and  bitcoin is just a digital currency which theres  no  sense for it  to make banks would disappear. One  thing  is for sure  government  wouldnt allow this thing to happen.

There is no advantage for bitcoin if it takes down banks. And I think bank can coexist with bitcoin. If you take down the bank, then fiat goes out as well. Then you will lose btcusd trading which is a good source of income.

[krishna1]

yes i can but it wont bitcoin is not to challenge anyone or anything but insted it is just a complete seperate system. yes i agree that there are many other payment networks avalible but this is very unique it has a transaction chain which other dont have

[8Habits]

Banks got too much influence to dissapear. They are on the sidelines fighting to stop bitcoin's trend. First claiming bitcoin as their enemy but now launching their own blockchain solutions. So yeah with them being so influential I doubt bitcoin can make them dissapear.

Banks are now getting scared that they have a threat and they can see it to bitcoins. And if they aren't going do something about it for sure many clients of the banks are going to shift into using bitcoins. But the chance of making banks disappear by bitcoin is not going to happen. Because the government is not going to allow that.

I would disagree, banks are not threatened  on the existence of bitcoin since they are somehow assured that people  would really use their services and  in fact  banks are just storage and  bitcoin is just a digital currency which theres  no  sense for it  to make banks would disappear. One  thing  is for sure  government  wouldnt allow this thing to happen.

There is no advantage for bitcoin if it takes down banks. And I think bank can coexist with bitcoin. If you take down the bank, then fiat goes out as well. Then you will lose btcusd trading which is a good source of income.

That is correct. Bitcoin really is just an alternative for us the consumers to use it in our online transactions among other features of bitcoin. It is in no way that will replace fiat money completely because bitcoin has a limitation of its production compared to fiat money that seems limitless well, they can produce more but the consequence is inflation. Therefore, bitcoin cannot remove bank but they can coexist together.

[marleybobthedog]

Funny, foolish question, bitcoin can't make banks disappear because already many country had banned bitcoin and without paper currency government would not get taxes and without taxes country will ruin. And banks could adoption the technology for making the system transparent and more reliable then conventional system.

[ttargett]

Funny, foolish question, bitcoin can't make banks disappear because already many country had banned bitcoin and without paper currency government would not get taxes and without taxes country will ruin. And banks could adoption the technology for making the system transparent and more reliable then conventional system.

of course bitcoins cannot just make banks disappear, it is just too strong right now, maybe after a few decades only

[danherbias07]

Funny, foolish question, bitcoin can't make banks disappear because already many country had banned bitcoin and without paper currency government would not get taxes and without taxes country will ruin. And banks could adoption the technology for making the system transparent and more reliable then conventional system.

Banks are seeing the bitcoin as a threat to their business so within the powers of the government what the least they can do is to ban bitcoin to their country. In that way, then the bitcoin doesn't have a chance to penetrate into a country so if we are thinking that the bitcoin is going to make the banks disappear then that is not going to happen.

It is not literally a ban throughout the country. It is more of certain industries cannot use it. Examples are through banks or selling online, they would still prefer the usage of their own currency. Somehow you can see the patriotism in it. They love their country and they want it to grow so they will need to use their own currency for economic reasons.

[deadpoolx]

Not at the current state. People are still dependent on banks to have access to paper money, because there are few places where you can get this through Bitcoin ATMs. In addition, there are few places where you can spend Bitcoin directly.

[springgers]

Not at the current state. People are still dependent on banks to have access to paper money, because there are few places where you can get this through Bitcoin ATMs. In addition, there are few places where you can spend Bitcoin directly.

So, what do you think more easily?
Places start to accept Bitcoin or a new altcoin made by banks?
Think about that! Bitcoin will never got this market...