Can Bitcoin make Banks disappear?

[bitbunnny]

Bitcoin can't make the banks disappear. This could never happen as long as the current worlds' financial system is set up as now. Banks are creating and moving the world economy and Bitcoin can't change that. But banks can accept the Bitcoins and accept blockchain technology and then with time situation can slowly change.

[richardsNY]

Bitcoin can't make the banks disappear. This could never happen as long as the current worlds' financial system is set up as now. Banks are creating and moving the world economy and Bitcoin can't change that. But banks can accept the Bitcoins and accept blockchain technology and then with time situation can slowly change.

Banks will never adopt/accept Bitcoin as it goes against all their values. The blockchain however is a more than interesting piece of technology for banks and other institutes. But then again, it will be private chains and not the blockchain from Bitcoin.

[MingLee]

Bitcoin can't make the banks disappear. This could never happen as long as the current worlds' financial system is set up as now. Banks are creating and moving the world economy and Bitcoin can't change that. But banks can accept the Bitcoins and accept blockchain technology and then with time situation can slowly change.

This is effectively what I have been saying for the entire time I've been here, and I personally think that we're looking at an extremely divisive future in the event Bitcoin becomes popularized. Banks will want to keep fiat money as long as they can while trying to incorporate Bitcoin, and Bitcoin would seriously diminish a bank's profits.

[socks435]

Bitcoin can't make the banks disappear. This could never happen as long as the current worlds' financial system is set up as now. Banks are creating and moving the world economy and Bitcoin can't change that. But banks can accept the Bitcoins and accept blockchain technology and then with time situation can slowly change.

It will never be happen since bitcoin still need those banks to exchange or deposit money.. bitcoin is still just an alternative payment processor online because of bitcoin has a value..

[South Park]

I think it's impossible. There are still people who wants real cash in the palm of their hands. But still a good idea to replace banks with bitcoins and make all transaction virtually.

Payments are becoming more electronic every day that passes, just look at bitcoin, so I disagree while there may be people that like the idea of having cash in their hands, a significant amount of people now prefer credit cards, PayPal and bitcoin.

Yeah and to be honest I think people are more comfortable in using credit card and also fiat for making shopping so I don't think that banks will ever disappear in future.

Correct there are very less peoples in the bitcoin world and the rest of the world is still using fiat and credit card even those also who are using bitcoin as well because they are more comfortable with that.

Not only that, if I carry cash and someone stole me that cash, then that person can spend my cash with impunity but with electronic payments this is going to be a lot more difficult, so using electronic means of payments adds a layer of security.

[gkv9]

Bitcoin can't make the banks disappear. This could never happen as long as the current worlds' financial system is set up as now. Banks are creating and moving the world economy and Bitcoin can't change that. But banks can accept the Bitcoins and accept blockchain technology and then with time situation can slowly change.

It will never be happen since bitcoin still need those banks to exchange or deposit money.. bitcoin is still just an alternative payment processor online because of bitcoin has a value..

That's the point, as we will need fiat for sure in order to get the value we expect for bitcoins...
That's what most people are here for, and it is profit, the only difference is, I admit and they don't...

[farishta]

i do not think so that bank can every disappear banks but i think banks will even do work with bitcoin in cooperation.

[Doamader]

Bitcoin can't make the banks disappear. This could never happen as long as the current worlds' financial system is set up as now. Banks are creating and moving the world economy and Bitcoin can't change that. But banks can accept the Bitcoins and accept blockchain technology and then with time situation can slowly change.

It will never be happen since bitcoin still need those banks to exchange or deposit money.. bitcoin is still just an alternative payment processor online because of bitcoin has a value..

That's the point, as we will need fiat for sure in order to get the value we expect for bitcoins...
That's what most people are here for, and it is profit, the only difference is, I admit and they don't...

Banks wont let anything neither bitcoin and crypto world to assume their business, its the same about the oil industry the current companies will monopoly the renew energy, the same way they do now. Soo bitcoin its more an option than something made to replace any currencie or company.

[bitcoinvestor]

Banking Industry will not disapear. They will adapt to new technology, even cryptocurrencies. When all people use cryptocurrency , of course the bankers will put a lot of investment in cryptocurrencies so the technology of banking will follow the developpment of cryptocurrency.

[zahra4577]

yes it can make banks disapper but it is not made for the compition it is made as an improved version of money system because bank system is the only chooise for us before bitcoin

How can bitcoin make bank disappear can you please elaborate ?

[dezoel]

Banking Industry will not disapear. They will adapt to new technology, even cryptocurrencies. When all people use cryptocurrency , of course the bankers will put a lot of investment in cryptocurrencies so the technology of banking will follow the developpment of cryptocurrency.

That's right banks may start adopting blockchain technology in future but its hard to believe that they will support bitcoins as its a threat to banking system and banks will never disappear because of bitcoins.

[Docnaster]

Bank will never be disappeared if they becoming scam lots of people are going to file a case for those owner of a banks, Well from me banks are stsrting adopting bitcoins ad technology base in my country we can deposit our bitcoins into banks.

[South Park]

Bitcoin can't make the banks disappear. This could never happen as long as the current worlds' financial system is set up as now. Banks are creating and moving the world economy and Bitcoin can't change that. But banks can accept the Bitcoins and accept blockchain technology and then with time situation can slowly change.

It will never be happen since bitcoin still need those banks to exchange or deposit money.. bitcoin is still just an alternative payment processor online because of bitcoin has a value..

I disagree with the second part of your post, bitcoin is not a payment processor, like PayPal, bitcoin is money, electronic money, do you see people trading PayPal, a payment processor, the same way they trade bitcoin and altcoins.

[dhimasnk]

bitcoin make Bank disappear? I think this is not possible. why? Bank is one of institutions important useful set the country's economy. so it is impossible Bank lost due bitcoin

[South Park]

Bank will never be disappeared if they becoming scam lots of people are going to file a case for those owner of a banks, Well from me banks are stsrting adopting bitcoins ad technology base in my country we can deposit our bitcoins into banks.

And what do you think it will come off those possible cases against the banks? Banks and bankers are too powerful they will never suffer the consequences of their actions.

[Doamader]

Bank will never be disappeared if they becoming scam lots of people are going to file a case for those owner of a banks, Well from me banks are stsrting adopting bitcoins ad technology base in my country we can deposit our bitcoins into banks.

And what do you think it will come off those possible cases against the banks? Banks and bankers are too powerful they will never suffer the consequences of their actions.

The law is for the people and for the companies, sure they can try to buy the law, but sooner or later someone will find and put them into the jail, banks doesnt need and wont scam, they make and earn huge loads of money all years, dont expect bitcoin to be a problem to them, just few of us able to live without them.

[abugseuf]

Banking Industry will not disapear. They will adapt to new technology, even cryptocurrencies. When all people use cryptocurrency , of course the bankers will put a lot of investment in cryptocurrencies so the technology of banking will follow the developpment of cryptocurrency.

yes as mos of the people are thinking so that banks will disappear after bitcoin become more popular and when all the people of the world will start using bitcoin, but i think it is not such an easy job. first it will take really a lot of time that people will start using it and second is that even then bitocin cannot disappear as banks will welcome bitcoin and will accept bitcoins in banks.

[richardsNY]

Banking Industry will not disapear. They will adapt to new technology, even cryptocurrencies. When all people use cryptocurrency , of course the bankers will put a lot of investment in cryptocurrencies so the technology of banking will follow the developpment of cryptocurrency.

That's right banks may start adopting blockchain technology in future but its hard to believe that they will support bitcoins as its a threat to banking system and banks will never disappear because of bitcoins.

It's actually very simple. You should see the government as some sort of a business. Would you adopt something that can make the revenue/profit of your business fall down like a rock? I don't think so. Neither will the government do so. In that aspect it's not difficult to figure out that governments will never incorporate Bitcoin.

[madwica]

Banking Industry will not disapear. They will adapt to new technology, even cryptocurrencies. When all people use cryptocurrency , of course the bankers will put a lot of investment in cryptocurrencies so the technology of banking will follow the developpment of cryptocurrency.

That's right banks may start adopting blockchain technology in future but its hard to believe that they will support bitcoins as its a threat to banking system and banks will never disappear because of bitcoins.

It's actually very simple. You should see the government as some sort of a business. Would you adopt something that can make the revenue/profit of your business fall down like a rock? I don't think so. Neither will the government do so. In that aspect it's not difficult to figure out that governments will never incorporate Bitcoin.

I think bitcoin will adopt by the bank and not bank disappear cause bank is holding all currency and bitcoin is a currency, and governments should learn about bitcoin since bitcoin can helps more people if they will start more business accepting bitcoin as mode of payment i think it would be great in each country.

[TTMNewsK]

I think it's NO. Because there is so much more user in Banks than the Bitcoin.
If everyone do not use the bank already, then, it is possible to make it happen.
Besides that, it is also impossible to most of the banks to use the bitcoin instead the fiat.