Can Bitcoin make Banks disappear?

[Multipulty]

I think one day in the future anything can be possible and certainly it is possible that bitcoin and blockchain technology can take over banking one day wince its simply better but the thing is the banks will fight as hard and as dirty as they can torevent that from happening and keep their precious profits.

I don't think so that anything will be possible in future. Because there much be some sort of exclusion of the technology. Even though this is going to give convenience to the people as with bitcoin they don't have to go to banks. But bank is one of the needed body agency or establishment by a country to manage the wealth of the people.

The banking system is very seriously considering the threat posed by cryptocurrency and therefore most of the countries and their financial institutions are learning to adopt many stages of work with bitcoin and blockchain.

I don't think so that banks will disappear, because many  big businessmen invest their money with them, although bitcoins plays a big part of online aspects like trading it doesn't mean it will take advantage compare to banks. Many people starts to learn bitcoin using particularly online transaction but online banking are now competing in modern lifestyle, so in conclusion bank and bitcoin ahs its own capability to show both of them were on track of economy.

Banks makes the money and the money that we use in buying bitcoin is created by banks so it's like saying that you will replace or you can make your creator disappear, we need to know where to stand as we are just a small community and though we are progressive but the number of users we have are just limited.

That's correct the  users of bitcoins are limited at a moment and even in future we cannot expect that everyone will start using bitcoins, the traditional thinkers will always prefer to use banks and I don't see bitcoin getting on the mainstream in future so its hard to believe that it can make banks disappear in future.

[farl2web]

I don't think banks will vanish. They will open up Bitcoin counter as and when it's legal to do so. Banks will and always stay. Bitcoin will soon be a part of banks maybe 2-5 years down the line.

that is just a non sense statement, i think God do not need bitcoin and we should obey the order of God if we want to please Him.

In some communities it preserved the old custom, which requires each member of the community to give a tenth of their profits for the benefit of the community. I do not know how you ever lived pastors, but now they live like the oligarchs. And it's all for these contributions.

[Rastaman2016]

I think one day in the future anything can be possible and certainly it is possible that bitcoin and blockchain technology can take over banking one day wince its simply better but the thing is the banks will fight as hard and as dirty as they can torevent that from happening and keep their precious profits.

I don't think so that anything will be possible in future. Because there much be some sort of exclusion of the technology. Even though this is going to give convenience to the people as with bitcoin they don't have to go to banks. But bank is one of the needed body agency or establishment by a country to manage the wealth of the people.

The banking system is very seriously considering the threat posed by cryptocurrency and therefore most of the countries and their financial institutions are learning to adopt many stages of work with bitcoin and blockchain.

I don't think so that banks will disappear, because many  big businessmen invest their money with them, although bitcoins plays a big part of online aspects like trading it doesn't mean it will take advantage compare to banks. Many people starts to learn bitcoin using particularly online transaction but online banking are now competing in modern lifestyle, so in conclusion bank and bitcoin ahs its own capability to show both of them were on track of economy.

Banks makes the money and the money that we use in buying bitcoin is created by banks so it's like saying that you will replace or you can make your creator disappear, we need to know where to stand as we are just a small community and though we are progressive but the number of users we have are just limited.

That's correct the  users of bitcoins are limited at a moment and even in future we cannot expect that everyone will start using bitcoins, the traditional thinkers will always prefer to use banks and I don't see bitcoin getting on the mainstream in future so its hard to believe that it can make banks disappear in future.

Users can increase but only up to the amount of coins themselves, and they really limited quantities. But it says nothing about what will or will sustain bitcoin bank standoff. Of course it all depends on the application and how bitcoin users make it more favorable to use. That would be the deciding factor.

[victoryboy]

I have to say no Bitcoin can not make the banks disappear never. There is a logical explanation behind this because banks are not like super markets or shops which appears and disappears or replaced by other. Actually they are providing base to all the financial structure of complex system from issues of salaries to utility bills, from loan to investment and much more than this. They both will exist and work together in future with more collaboration.

[1Referee]

I don't think banks will vanish. They will open up Bitcoin counter as and when it's legal to do so. Banks will and always stay. Bitcoin will soon be a part of banks maybe 2-5 years down the line.

Yes bank is toward bitcoin. So I think they will cooperated with bitcoin.  If bank stay on their system they will unysed by people. They have to keep moving forward. Any conventional must be replaced by the modern one.

That's just nonsense. Banks right now have no interest in the coin aspect of this piece of technology, and will never have. The only thing they are interested in is the blockchain technology that they will set up in their own private form. It's not that they will make use of Bitcoin's blockchain. Also that is something that will never happen.

Banks thrive on the control that they have over every aspect of their business, way of storing people's money, way of handling transactions for its customers, etc. In every part the customers don't have any control, and that's exactly the thing banks want to stay the same.

Bitcoin gives people financial freedom, do you really think a centralized entity will hand you over that kind of freedom by incorporating something that is basically poison to their entire business structure? Think good about it. You'll then realize what I am trying to say.

[JeffBrad12]

I don't think banks will vanish. They will open up Bitcoin counter as and when it's legal to do so. Banks will and always stay. Bitcoin will soon be a part of banks maybe 2-5 years down the line.

Yes bank is toward bitcoin. So I think they will cooperated with bitcoin.  If bank stay on their system they will unysed by people. They have to keep moving forward. Any conventional must be replaced by the modern one.

it's can't. and never. the basic system of the bitcoin and bank is different and i could for defining that's just a dream totally the bank are wanna for adopting the blockchain system are wanna be the competitors for bitcoin because the bank's possition are get threatened by bitcoin today.

[danherbias07]

I don't think banks will vanish. They will open up Bitcoin counter as and when it's legal to do so. Banks will and always stay. Bitcoin will soon be a part of banks maybe 2-5 years down the line.

Yes bank is toward bitcoin. So I think they will cooperated with bitcoin.  If bank stay on their system they will unysed by people. They have to keep moving forward. Any conventional must be replaced by the modern one.

it's can't. and never. the basic system of the bitcoin and bank is different and i could for defining that's just a dream totally the bank are wanna for adopting the blockchain system are wanna be the competitors for bitcoin because the bank's possition are get threatened by bitcoin today.

True that it is being threatened but embracing it could make it work. There are just thinks that would be needed to consider, some to be applied for it to work. Imagine being the first bank to work it out. It will be a blast and maybe it will also boom their economy.

[choppork]

Bitcoin isn't the one that will make the banks disappear. It's the people. Once people starting using bitcoins more and more, banks would be left out. Of course there would still be some people using banks but it would come to the point when banks are starting to have financial loss and banks would start closing down one by one. This will not be happening a year from now, it will take a decade or even more to happen. Bitcoin is still in its beginning phase.

[PizzaBTC]

I think one day in the future anything can be possible and certainly it is possible that bitcoin and blockchain technology can take over banking one day wince its simply better but the thing is the banks will fight as hard and as dirty as they can torevent that from happening and keep their precious profits.

I don't think so that anything will be possible in future. Because there much be some sort of exclusion of the technology. Even though this is going to give convenience to the people as with bitcoin they don't have to go to banks. But bank is one of the needed body agency or establishment by a country to manage the wealth of the people.

The banking system is very seriously considering the threat posed by cryptocurrency and therefore most of the countries and their financial institutions are learning to adopt many stages of work with bitcoin and blockchain.

That is true, because if the banks and financial institution fail to adopt bitcoin, there is going to be serious problem with  their business as everything may collapse which they will never want to see that happening.

[markyminer]

I have to say no Bitcoin can not make the banks disappear never. There is a logical explanation behind this because banks are not like super markets or shops which appears and disappears or replaced by other. Actually they are providing base to all the financial structure of complex system from issues of salaries to utility bills, from loan to investment and much more than this. They both will exist and work together in future with more collaboration.

yes that is right to say that it is not so much that bitcoin will disappear banks as bitcoin is not so much popular in the world, still majority of the people are using fiat currency therefore they are using banks for most of their activities so it is really difficult that bitcoin will disappear banks.

[iamTom123]

Bitcoin can be a direct competitor for some of the services rendered by the banks and for this reason there will come a time when banks may resent the lost of many lucrative services. However, in my opinion banks will always stay because they can also evolve and then survive. For sure, Bitcoin is the new game changer of the banking industry.

[SidaroffVany]

Bitcoin can be a direct competitor for some of the services rendered by the banks and for this reason there will come a time when banks may resent the lost of many lucrative services. However, in my opinion banks will always stay because they can also evolve and then survive. For sure, Bitcoin is the new game changer of the banking industry.

Most likely in the near future we will see a large alliance of banks and bitcoin. If the natural paper money will come from the household, they are replaced by digital.

[iram3130]

As u can see many country's banks are adopting bitcoins in their transactions and I really feel banks will go down some day with just an app and websites.
Which is almost there already..

[to1ga]

As u can see many country's banks are adopting bitcoins in their transactions and I really feel banks will go down some day with just an app and websites.
Which is almost there already..

We cannot expect that each and every bank from different countries will start accepting bitcoins in future as Governments of certain countries will surely oppose bitcoins and won't support them as it can be a threat to their financial system and in that case banks will always keep on operating.

[ananas99]

As u can see many country's banks are adopting bitcoins in their transactions and I really feel banks will go down some day with just an app and websites.
Which is almost there already..

We cannot expect that each and every bank from different countries will start accepting bitcoins in future as Governments of certain countries will surely oppose bitcoins and won't support them as it can be a threat to their financial system and in that case banks will always keep on operating.

Banks still my last word is not said, and had not even come to that. Believe me, bitcoin is self-sufficient, but the banking system is better-off than we think.

[1Referee]

As u can see many country's banks are adopting bitcoins in their transactions

What are you talking about? Where can I see that many countries and banks, or "country banks" as in the central bank (if that's what you mean) of a given country that has adopted Bitcoin?

and I really feel banks will go down some day with just an app and websites.
Which is almost there already..

Once again I can't really figure out what you try to say. Either way, just to bring you back into reality, banks will never go down/vanish just because of Bitcoin (as that is the main subject here). They don't like it (perhaps even hate it), they don't need it, they are not interested in it. It's that simple.

Note; I am not sure whether or not you use Google translate, or just write your posts yourself, but at least try to put more effort into making your post understandable.

[Darmo Gandoel]

Banks has the trust of the costumers,people wont change soo fast their mind.Banks for some are trusted,even knowing that anytime they may bankrupt as their costumers withdraw all funds. banks will the most stay with nothing as they lended those to others. they work with others money,if all take all money out bank is gone. look at Greece financial problem that limited otherwise they would be closed.

[icecube45]

As u can see many country's banks are adopting bitcoins in their transactions and I really feel banks will go down some day with just an app and websites.
Which is almost there already..

We cannot expect that each and every bank from different countries will start accepting bitcoins in future as Governments of certain countries will surely oppose bitcoins and won't support them as it can be a threat to their financial system and in that case banks will always keep on operating.

I do not know if all banks will accept bitcoin in the end, but in my country the bank does not want to cooperate with bitcoin for several reasons. Perhaps the bank already has its own system that will be developed and accepted by many people. I think between the bank and the bitcoin very different so it can not work together, and bitcoin could not make disappear the bank because the bank has good strength.

[8Habits]

As u can see many country's banks are adopting bitcoins in their transactions and I really feel banks will go down some day with just an app and websites.
Which is almost there already..

We cannot expect that each and every bank from different countries will start accepting bitcoins in future as Governments of certain countries will surely oppose bitcoins and won't support them as it can be a threat to their financial system and in that case banks will always keep on operating.

I do not know if all banks will accept bitcoin in the end, but in my country the bank does not want to cooperate with bitcoin for several reasons. Perhaps the bank already has its own system that will be developed and accepted by many people. I think between the bank and the bitcoin very different so it can not work together, and bitcoin could not make disappear the bank because the bank has good strength.

At this point in time, bitcoin is a good alternative for fiat money when in terms of financial transactions online and even other stuff like online gaming, trading altcoins, investing, and the like. Hence, it will not make banks disappears because it serves as a good alternative for people that want to use bitcoin.

[mirakal]

As u can see many country's banks are adopting bitcoins in their transactions and I really feel banks will go down some day with just an app and websites.
Which is almost there already..

We cannot expect that each and every bank from different countries will start accepting bitcoins in future as Governments of certain countries will surely oppose bitcoins and won't support them as it can be a threat to their financial system and in that case banks will always keep on operating.

I do not know if all banks will accept bitcoin in the end, but in my country the bank does not want to cooperate with bitcoin for several reasons. Perhaps the bank already has its own system that will be developed and accepted by many people. I think between the bank and the bitcoin very different so it can not work together, and bitcoin could not make disappear the bank because the bank has good strength.

At this point in time, bitcoin is a good alternative for fiat money when in terms of financial transactions online and even other stuff like online gaming, trading altcoins, investing, and the like. Hence, it will not make banks disappears because it serves as a good alternative for people that want to use bitcoin.

Well, obviously we need bank to transact or buy and sell bitcoins, that means bitcoin is not independent yet. As a user of bitcoin, I have a lot of good experience with it because it can give me benefits online to earn money but at the end of the day, it still goes down to bank when I cash out.