Can Bitcoin make Banks disappear?

[virtualkeybuyer]

Banks will always have place to be, cause of who mostly use banks? - rich people to hold their treasures and people who live from salary to salary and can't allow themselves something expansive. And cause if second type of people is much bigger than others banks will work.

There is a chance that rich people leave banks because for storing their wealth because bitcoin is considered as a more secure way of storing our wealth but still the banks will not disappear and it will exist because a number of people and businesses like to use banks for continuing their financial systems.

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[Rinder]

The bitcoin is good and I think it has a good future but that does not means it can let banks disappear not gonna happen in my eyes.

I am sorry but I have different opinion with you, we use bank becouse we need to save our money in it, but if we have our own wallet it's mean we doesn't need it anymore. So many countries that start to accept bitcoin and it was become main stream. If bank do not begin to cooperate with bitcoin, I think they could be dissapear.

It will not happen, bank will stay here forever. We do not need banks to cooperate with us, we can have our own as it's a different system and it's hard to migrate or integrate the two to function as one. Some people uses banks and some uses bitcoin, but it's good if we can use both to benefit of it all.

you are right that it will never happen because bank is make for fiat currency and we know that fiat currency will be survive forever and we keep our money in bank so bitcoin will be never disappear bank.

Hold on fiat will last forever? Sure this is the main system being used the printed money, but we will advance into digital money in the future, and bitcoin is part of those as well crypto world, soo we may see some big changes into those system. Banks are slowing offering several services that you can make from home, as pay bills, soon they will allow you try to get a loan from home directly with the bank. Banks wont disappear because they are following the market, and the market its present at digital era, almost all people has a phone and internet acess.

[South Park]

Banks are so deep integrated in the whole world so I don't see the way that could disappear. Not even with help of Bitcoin. The whole financial system in every country is based on banks. They have started every world financial crysis but stil usualy nothing bad happens to banks and they continue to rule this world. Bitcoin could maybe just put them away a little bit from the track but that is all.

Things do happen to banks, it is just the banking industry still goes strong and that gives the appearance that nothing happens, but when a crisis strikes many banks can go bankrupt in a matter of months or even days.

[blackstone]

yess bitcoins will make banks  disappear at all.in by 2022 most  of the people will start using bitcoins as their currency otherwise bitcoins will die in a very hard way .we have to work hard a lot everyday and make educate people about the bitcoin cryptocurrency.

[poplolnman]

Banks are so deep integrated in the whole world so I don't see the way that could disappear. Not even with help of Bitcoin. The whole financial system in every country is based on banks. They have started every world financial crysis but stil usualy nothing bad happens to banks and they continue to rule this world. Bitcoin could maybe just put them away a little bit from the track but that is all.

Things do happen to banks, it is just the banking industry still goes strong and that gives the appearance that nothing happens, but when a crisis strikes many banks can go bankrupt in a matter of months or even days.

yeah i agree with you , even banks have been integrated deeply anywhere around the world it's still could be collapsed and even dissapeared. the problem is when something like that could happened? what factors exclude bitcoin that could make it happen? i don't think it cost short time only , i can say for now it's almost impossible to imagine about it.

[Bigdan]

I don't believe the banks can be completely wiped out in a moment but I foresee the banks rather investing in bitcoins and gradually replacing them (their fiat) with bitcoins in the future.

[ffe]

I don't believe the banks can be completely wiped out in a moment but I foresee the banks rather investing in bitcoins and gradually replacing them (their fiat) with bitcoins in the future.

They don't need to invest much in Bitcoin. They issue loans nominally in Bitcoin and hand out checkbooks. They don't have to hold the full amount of the checking accounts in Bitcoins, just a fractional reserve.  And their loans get paid back in real Bitcoins.

Pretty soon they have a lot of Bitcoins.

[Mbah Slamet]

I am sure this difficult, we all know the function of the bank is very important for the economy, because if banks disappear then economy can be a problem.

[romero121]

I don't believe the banks can be completely wiped out in a moment but I foresee the banks rather investing in bitcoins and gradually replacing them (their fiat) with bitcoins in the future.

They don't need to invest much in Bitcoin. They issue loans nominally in Bitcoin and hand out checkbooks. They don't have to hold the full amount of the checking accounts in Bitcoins, just a fractional reserve.  And their loans get paid back in real Bitcoins.

Pretty soon they have a lot of Bitcoins.

Yes it can happen that payments with banks will be bitcoin but I don't think that they will allow that bitcoin will replace fiat for real. As we know that the risk is still there and because of the price of bitcoin is not stable enough and cannot be controlled. I don't think they will completely trust their business to a decentralized crypto's.

Bitcoin as a high value store token has been gaining popularity among most of the financial service providers. Banks were the most among those and banks supporting bitcoin won't happen as quoted. Already banking system is with continued plan of updating themselves with the technology but haven't issued willingness to use bitcoin into the banking services.

[Positid]

I don't believe the banks can be completely wiped out in a moment but I foresee the banks rather investing in bitcoins and gradually replacing them (their fiat) with bitcoins in the future.

They don't need to invest much in Bitcoin. They issue loans nominally in Bitcoin and hand out checkbooks. They don't have to hold the full amount of the checking accounts in Bitcoins, just a fractional reserve.  And their loans get paid back in real Bitcoins.

Pretty soon they have a lot of Bitcoins.

Yes it can happen that payments with banks will be bitcoin but I don't think that they will allow that bitcoin will replace fiat for real. As we know that the risk is still there and because of the price of bitcoin is not stable enough and cannot be controlled. I don't think they will completely trust their business to a decentralized crypto's.

Bitcoin as a high value store token has been gaining popularity among most of the financial service providers. Banks were the most among those and banks supporting bitcoin won't happen as quoted. Already banking system is with continued plan of updating themselves with the technology but haven't issued willingness to use bitcoin into the banking services.

Bitcoin in the future will be the major competitor of banks if people will continue to adopt. We are going to be a big community, and though banks are planning to make their own blockchain type but they cannot beat us with our technology.

[shinratensei_]

I don't believe the banks can be completely wiped out in a moment but I foresee the banks rather investing in bitcoins and gradually replacing them (their fiat) with bitcoins in the future.

They don't need to invest much in Bitcoin. They issue loans nominally in Bitcoin and hand out checkbooks. They don't have to hold the full amount of the checking accounts in Bitcoins, just a fractional reserve.  And their loans get paid back in real Bitcoins.

Pretty soon they have a lot of Bitcoins.

Yes it can happen that payments with banks will be bitcoin but I don't think that they will allow that bitcoin will replace fiat for real. As we know that the risk is still there and because of the price of bitcoin is not stable enough and cannot be controlled. I don't think they will completely trust their business to a decentralized crypto's.

Bitcoin as a high value store token has been gaining popularity among most of the financial service providers. Banks were the most among those and banks supporting bitcoin won't happen as quoted. Already banking system is with continued plan of updating themselves with the technology but haven't issued willingness to use bitcoin into the banking services.

Bank will never support bitcoin and otherwise bitcoin will never be supporting it. But honestly, the bitcoin was making it being stronger soon. through the hyperledger, they can exploit more.

I may think it will become compete for bitcoin in the future. Although some was saying if that was like the vaporwave project.

[Mirardowyn]

No I do not think that this can happen to be honest but of course you never know it, most likely it cannot do this.
Banks are just way too powerful.

[Ziskinberg]

Bank will never support bitcoin and otherwise bitcoin will never be supporting it. But honestly, the bitcoin was making it being stronger soon. through the hyperledger, they can exploit more.

I may think it will become compete for bitcoin in the future. Although some was saying if that was like the vaporwave project.

I certainly agree with it, Bank has a separate system that requires it's depositors to comply with the KYC to ensure your transaction will be validated and to determine if you are doing an illegal transaction or not. With bitcoin, we do not go to that process when we open an account, so if you will see it, that is the major difference why bank and bitcoin cannot work together with one purpose.

[Leonardis]

No I do not think that this can happen to be honest but of course you never know it, most likely it cannot do this.
Banks are just way too powerful.

Banks will not disappear and they are also indeed to big, they cannot get defeated by the bitcoin, banks are known for their power and cannot be stopped every country has at least one bank.

[Naughtid]

No I do not think that this can happen to be honest but of course you never know it, most likely it cannot do this.
Banks are just way too powerful.

Banks will not disappear and they are also indeed to big, they cannot get defeated by the bitcoin, banks are known for their power and cannot be stopped every country has at least one bank.

In fact, if they use bitcoin, they will be stronger.

[Wintersoldier]

No I do not think that this can happen to be honest but of course you never know it, most likely it cannot do this.
Banks are just way too powerful.

Banks will not disappear and they are also indeed to big, they cannot get defeated by the bitcoin, banks are known for their power and cannot be stopped every country has at least one bank.

In fact, if they use bitcoin, they will be stronger.

I don't think so, because if  bitcoin use banks, bitcoin will become stronger not the banks. Banks are the one who regulate the circulations of money, so without bank, there would certainly no bitcoin. Therfore, banks doesn't need bitcoin to become stronger.

[BitHodler]

No I do not think that this can happen to be honest but of course you never know it, most likely it cannot do this.
Banks are just way too powerful.

Banks will not disappear and they are also indeed to big, they cannot get defeated by the bitcoin, banks are known for their power and cannot be stopped every country has at least one bank.

In fact, if they use bitcoin, they will be stronger.

How would they come stronger? Banks are out to be the sole ruler in their market. Bitcoin doesn't give them that opportunity as there is no way for banks to control it.

If banks can't control something, then they will simply work around it. It's not for nothing that there are banks with a very hostile Bitcoin policy.

People aren't allowed to enjoy financial freedom. Important aspect is that with Bitcoin you basically rule out banks since it works without a third party or middle man.

[tabas]

No I do not think that this can happen to be honest but of course you never know it, most likely it cannot do this.
Banks are just way too powerful.

Banks will not disappear and they are also indeed to big, they cannot get defeated by the bitcoin, banks are known for their power and cannot be stopped every country has at least one bank.

In fact, if they use bitcoin, they will be stronger.

I don't think so, because if  bitcoin use banks, bitcoin will become stronger not the banks. Banks are the one who regulate the circulations of money, so without bank, there would certainly no bitcoin. Therfore, banks doesn't need bitcoin to become stronger.

It depends on what will be the outcome or they should need to make some dry run first or else they will just going to ignore the usage of bitcoin. Since they are already in the financial industry they don't want to ruin their clients trust just because of decentralized crypto currency. But if a client of them will try to suggest this to them then that will be better.

[jak3]

sure it can but bitcoin is not at a war with banks its like banks are no compition to bitcoin at all. we know that bitcoin is very very better than any bank around and banks do not have to be compare with it.lets see what banks can do with bitcoin as an opponent in more 10years

[Mr. Big]

sure it can but bitcoin is not at a war with banks its like banks are no compition to bitcoin at all. we know that bitcoin is very very better than any bank around and banks do not have to be compare with it.lets see what banks can do with bitcoin as an opponent in more 10years

Nope, it can't as mentioned so many times in this thread, it is not only money that is present in the banks, and it is not just its only business... When it comes to which is better, banks still has an advantage over bitcoin... But as you've mention, 10 years from now, maybe there are already changes in bitcoin and that might be enough reason to say that it is already in competition with fiat and banks...