Can Bitcoin make Banks disappear?

[arcanaaerobics]

Why would banks disappear? Plenty of bitcoin banks online... okay, they may not be as established or as recognised institutions as traditional financial banks but if banks today disappear it will only be because they will be displaced by highly-evolved successors.

How can bitcoin on its own ever replace the roles that banks have?

P.S. I don't like banking in general=)

None likes banks, it's an necessary evil.

Bitcoin don't have the power to replace banks and never will have because it's just an currency.

[Skarner21]

My answer is no. Bitcoin can be a revolutionary electronic currency but it doesn't have the power to replace the traditional banking system. The reason is simple, bank is a government backed system. Also the Fiat currency is backed by government.

On the other hand bitcoin is backed by people's trust and it doesn't have any Central agency to support so the blockchain system can make an attractive investment route, but replacing banking system is never going to be happen.

I disagree with you. I believe that Bitcoin can easily replace banks in the future. Look at the world right now. We are in the middle of the World fourth technology revolution and the internet steadily replace physical services. And soon, Bitcoin will be a part of this world

I strongly disagree with you on this.  Bank is not a currency that compete against Bitcoin, Bank is a financial institution, and this institution is clever enough to even make bitcoin popularity in their favor.  And take note, bank operation is not limited to fiat money alone.  Bitcoin may disappear but this kind of institution might be modified but will never disappear.

Yeah banks will be stay but bitcoin it can be gone and we cannot use bitcoin in offline mode unlike banks that we can use them online and offline.
Also banks is control by government so it is impossible that banks will disappear.
Bitcoin there is still no assurance that bitcoin will stay long in the future..

[Finestream]

My answer is no. Bitcoin can be a revolutionary electronic currency but it doesn't have the power to replace the traditional banking system. The reason is simple, bank is a government backed system. Also the Fiat currency is backed by government.

On the other hand bitcoin is backed by people's trust and it doesn't have any Central agency to support so the blockchain system can make an attractive investment route, but replacing banking system is never going to be happen.

I disagree with you. I believe that Bitcoin can easily replace banks in the future. Look at the world right now. We are in the middle of the World fourth technology revolution and the internet steadily replace physical services. And soon, Bitcoin will be a part of this world

I strongly disagree with you on this.  Bank is not a currency that compete against Bitcoin, Bank is a financial institution, and this institution is clever enough to even make bitcoin popularity in their favor.  And take note, bank operation is not limited to fiat money alone.  Bitcoin may disappear but this kind of institution might be modified but will never disappear.

Yeah banks will be stay but bitcoin it can be gone and we cannot use bitcoin in offline mode unlike banks that we can use them online and offline.
Also banks is control by government so it is impossible that banks will disappear.
Bitcoin there is still no assurance that bitcoin will stay long in the future..

i think we can be use bitcoin as fiat in the near future because bitcoin is going more successful currency and bitcoin more move up to improve his facility and then i hope we can be use bitcoin in offline or online mode in the future.

Online it's best but for offline transaction you mean you will have your own paper money from bitcoin. It's not possible until bitcoin will be regulated. We cannot compete with paper money still as the level of awareness of the people regarding bitcoin is not that big.

Imagine what percentage we are holding now.

[passwordnow]

Why would banks disappear? Plenty of bitcoin banks online... okay, they may not be as established or as recognised institutions as traditional financial banks but if banks today disappear it will only be because they will be displaced by highly-evolved successors.

How can bitcoin on its own ever replace the roles that banks have?

P.S. I don't like banking in general=)

None likes banks, it's an necessary evil.

Bitcoin don't have the power to replace banks and never will have because it's just an currency.

We can't deny that our country needs the services of banks. Because it is the one that makes the circulation of money to be in a good flow. And if we don't need banks then central banks are not even needed either and no one will ever print our fiat money and oligarchs will control the whole flow of money system. And it is impossible for banks to be replaced by bitcoin because of its decentralization.

[Mirconome]

In general, the banking system so strong that it will withstand any shocks. It has existed for a long time, long before the emergence of the Internet and even electricity. Therefore, we can conclude that banks will live forever.

[lilit]

My answer is no. Bitcoin can be a revolutionary electronic currency but it doesn't have the power to replace the traditional banking system. The reason is simple, bank is a government backed system. Also the Fiat currency is backed by government.

On the other hand bitcoin is backed by people's trust and it doesn't have any Central agency to support so the blockchain system can make an attractive investment route, but replacing banking system is never going to be happen.

I disagree with you. I believe that Bitcoin can easily replace banks in the future. Look at the world right now. We are in the middle of the World fourth technology revolution and the internet steadily replace physical services. And soon, Bitcoin will be a part of this world

I strongly disagree with you on this.  Bank is not a currency that compete against Bitcoin, Bank is a financial institution, and this institution is clever enough to even make bitcoin popularity in their favor.  And take note, bank operation is not limited to fiat money alone.  Bitcoin may disappear but this kind of institution might be modified but will never disappear.

Yeah banks will be stay but bitcoin it can be gone and we cannot use bitcoin in offline mode unlike banks that we can use them online and offline.
Also banks is control by government so it is impossible that banks will disappear.
Bitcoin there is still no assurance that bitcoin will stay long in the future..

Banks is a credit system, which is a huge and sensitive lever of influence on all spheres of human activity. If you look that offers bitcoin in its initial form, the bank lost its relevance because of bitcoin.

[Barbut]

In general, the banking system so strong that it will withstand any shocks. It has existed for a long time, long before the emergence of the Internet and even electricity. Therefore, we can conclude that banks will live forever.

Nothing last forever, and banks are indeed old institution and they will disappear one day definitely. The reason of their disappearance will not be cause they are exist so long, it will be cause they are making rich people richer and they don't care about a little guy, and when awareness get to some higher level banks will be abandoned and people will move to alternatives, and for now fiat have just one alternative, bitcoin!

[RobWhite]

I think digital currencies are not about destroying banks, they are about creating a parallel infrastructure, which allows you to access kind of alternative world.

What can really threaten banks - companies like Alipay, Apple, Facebook, which are entering the finance market.

[8Habits]

In general, the banking system so strong that it will withstand any shocks. It has existed for a long time, long before the emergence of the Internet and even electricity. Therefore, we can conclude that banks will live forever.

Nothing last forever, and banks are indeed old institution and they will disappear one day definitely. The reason of their disappearance will not be cause they are exist so long, it will be cause they are making rich people richer and they don't care about a little guy, and when awareness get to some higher level banks will be abandoned and people will move to alternatives, and for now fiat have just one alternative, bitcoin!

Wow, that is a very strong statement there mate! I really disagree with you that banks will disappear unless we will be in the point of no world order due to big nature calamities or after most of the countries are destroyed due to nuclear bombs from world war, or any related misfortunes.. But I doubt we will come to that point tbh.

[wutard]

If Bitcoin can offer people more than it offers a simple banking system, they will choose bitcoin. At the same time, and so that users use bitcoin, and ordinary people have yet to learn what it is.

[richardsNY]

If Bitcoin can offer people more than it offers a simple banking system, they will choose bitcoin. At the same time, and so that users use bitcoin, and ordinary people have yet to learn what it is.

Even if you throw Bitcoin without any regulations into the hands of the average joes, then still they will prefer to continue using the regular banking system. I know a few people that are exactly like this. No matter how many times I point them on the benefits of Bitcoin, they still follow their own path with a wrong way of thinking. Hard headed people that are not willing to agree as they are brainwashed by the media.

[Rastaman2016]

In general, the banking system so strong that it will withstand any shocks. It has existed for a long time, long before the emergence of the Internet and even electricity. Therefore, we can conclude that banks will live forever.

Nothing last forever, and banks are indeed old institution and they will disappear one day definitely. The reason of their disappearance will not be cause they are exist so long, it will be cause they are making rich people richer and they don't care about a little guy, and when awareness get to some higher level banks will be abandoned and people will move to alternatives, and for now fiat have just one alternative, bitcoin!

Wow, that is a very strong statement there mate! I really disagree with you that banks will disappear unless we will be in the point of no world order due to big nature calamities or after most of the countries are destroyed due to nuclear bombs from world war, or any related misfortunes.. But I doubt we will come to that point tbh.

Guys, if there is a war between the states, the bitcoin will not save anyone. This uniquely. Better not to think about it. Otherwise, banks will survive and bitcoin will lose its relevance.

[Sierra82fit]

Today we are seeing a trend where governments support banking systems and do not want to accept bitcoin. But bitcoin still exists in spite of this policy. Poor that a small percentage of mankind knows about cryptocurrency.

[Zaduca]

Today we are seeing a trend where governments support banking systems and do not want to accept bitcoin. But bitcoin still exists in spite of this policy. Poor that a small percentage of mankind knows about cryptocurrency.

If the bitcoin is widely accepted by non banking organisation such as shops, the banks will also accept it gradually.

[BitFinnese]

In general, the banking system so strong that it will withstand any shocks. It has existed for a long time, long before the emergence of the Internet and even electricity. Therefore, we can conclude that banks will live forever.

Aside from that bank managers and owners are clever enough to take advantage of any opportunity they find in the open market.  They can even make profit to those supposed to be competitor because of their smart plannings.  So definitely banks will stay and if ever bitcoin emerge as the top currency, this bank will take advantage of it and make it as tool to make their foundation stronger.

[Nevis]

I think in the near future maybe it will came true that bitcon will eliminate banks now.That will just happen if all bigtime moneyholder and small people too wilp adopt bitcoins in their businesses and companies.

[1Referee]

I think in the near future maybe it will came true that bitcon will eliminate banks now.That will just happen if all bigtime moneyholder and small people too wilp adopt bitcoins in their businesses and companies.

Far from realistic. If Bitcoin at some point in the future will form some sort of a danger to the entire banking system, then you can bet on it that the governments around the world will team up and force through a total ban. You can't simply expect the governments to keep looking at how Bitcoin is growing too large where no actions are taken. Every necessary action will be taken to prevent Bitcoin from causing any damage to their economy. That's why I am very happy with how Bitcoin is right now. It's an alternative, and not some sort of main currency. We all should be happy with that.

[SvenBomvolen]

   Tremendous task for bitcoin, I cant imagine something like this can happen. Banks are powerful institutions, there is more banks then altcoins, and if they feel threaten they can unite and make big troubles to bitcoin.
   Banks work for government, or its reverse, they can make some new regulations and ban many things that we have available now.

[iqlimasyadiqa]

I think in the near future maybe it will came true that bitcon will eliminate banks now.That will just happen if all bigtime moneyholder and small people too wilp adopt bitcoins in their businesses and companies.

I agree with you . all of it will happen, we are only a matter of time. Bitcoin is now taking some of the financial sector in the world.
one of which is a system of online sales and also gambling sites. every time bitcoin continues to grow and become strong payment media.

[ged00u]

I think in the near future maybe it will came true that bitcon will eliminate banks now.That will just happen if all bigtime moneyholder and small people too wilp adopt bitcoins in their businesses and companies.

I agree with you . all of it will happen, we are only a matter of time. Bitcoin is now taking some of the financial sector in the world.
one of which is a system of online sales and also gambling sites. every time bitcoin continues to grow and become strong payment media.

Bank will soon disappear. It is only a tool which is used by Government to control citizen. Bitcoin is freedom. More and more people will know about Bitcoin and will use it instead of FIAT. While money keep inflating, Bitcoin price continue to go up no matter what. It is now playing an important role in the ecosystem, people can not ignore it forever