Can Bitcoin make Banks disappear?

[Harlot]

It seems that experts say that Bitcoin 'Here to Stay,' But Banks Could Disappear.

The best example for this is people have started using bitcoin as a mean of receiving and sending money over the internet, and I think many will do so as bitcoin becomes omnipresent, banks will start adopting bitcoin because everyone thinks that it is the future of money.

It means banks will disappear or banks will change themselves as bitcoin banks.

Banks might adapt also bitcoin, its terms and uses. It seems impossible that bank will disappear . Banks were use by many and operated by lots of businessmen they might get bankrupt butI I know they will not let things happen, they were business minded anyway they might know bitcoin by now.

really needed a lot of times to make bitcoin beat banks.
even if then bitcoin exist and have more user than banks i don't think this is a realistic thought.
so far people have no trust as when they trust banks, bitcoin is still to young to be able do that.

By the time Bitcoin is forming a serious threat to the banking system, governments will come to action and put all kinds of policies into place to hold back Bitcoin's growth.

That's still somewhat of a more friendly approach as governments can also choose to put a total ban in place. That's also a realistic possibility.

That's why I am happy with how Bitcoin is operating right now. It's an alternative currency, investment and store of value tool. As long as it stays like this, governments won't have any incentive to ban Bitcoin.

How can banks turn into Bitcoin banks if even the government does not allow the use of Bitcoin anyway? There is no sense of thinking that a limited currency can change all banks. If we think of it this way that Bitcoin cannot be a form of stable business because it is volatile and also limited a price change can determine whether you have earned or not.

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[South Park]

Bitcoin in the current situation will not affect the banking system. All the people who own and make banks much trying to find a way for the user control bitcoin. But the banks do not withdraw from the market.

It can affect the banking system when people who are using banking services sees that it is an advantage for them to use bitcoin for sending and accepting payment through it unless their senders and receiver are using bitcoin. Because it is not going to be covered by tax and the fees are even cheaper like the banks are charging but not just because of this, banks will remain and not going to disappear.

People will begin to wake up when they need it, bitcoin is not only faster than bank transfers and cheaper too, bitcoin is also faster than western union and almost anything I can imagine and the fact we don't need identification or anything makes it even better.

[RealPhotoshoper]

It seems that experts say that Bitcoin 'Here to Stay,' But Banks Could Disappear.

The best example for this is people have started using bitcoin as a mean of receiving and sending money over the internet, and I think many will do so as bitcoin becomes omnipresent, banks will start adopting bitcoin because everyone thinks that it is the future of money.

It means banks will disappear or banks will change themselves as bitcoin banks.

Banks might adapt also bitcoin, its terms and uses. It seems impossible that bank will disappear . Banks were use by many and operated by lots of businessmen they might get bankrupt butI I know they will not let things happen, they were business minded anyway they might know bitcoin by now.

really needed a lot of times to make bitcoin beat banks.
even if then bitcoin exist and have more user than banks i don't think this is a realistic thought.
so far people have no trust as when they trust banks, bitcoin is still to young to be able do that.

By the time Bitcoin is forming a serious threat to the banking system, governments will come to action and put all kinds of policies into place to hold back Bitcoin's growth.

That's still somewhat of a more friendly approach as governments can also choose to put a total ban in place. That's also a realistic possibility.

That's why I am happy with how Bitcoin is operating right now. It's an alternative currency, investment and store of value tool. As long as it stays like this, governments won't have any incentive to ban Bitcoin.

i told you , even bitcoin has formed as a serious threat for world economy/banking system.
it is still needed a long journey for bitcoin to be established first.
then another long journey to make people using bitcoin in mass then banks is useless, that moment banks dissapeared, i don't know if it really can be done.

[danherbias07]

Bitcoin in the current situation will not affect the banking system. All the people who own and make banks much trying to find a way for the user control bitcoin. But the banks do not withdraw from the market.

It can affect the banking system when people who are using banking services sees that it is an advantage for them to use bitcoin for sending and accepting payment through it unless their senders and receiver are using bitcoin. Because it is not going to be covered by tax and the fees are even cheaper like the banks are charging but not just because of this, banks will remain and not going to disappear.

People will begin to wake up when they need it, bitcoin is not only faster than bank transfers and cheaper too, bitcoin is also faster than western union and almost anything I can imagine and the fact we don't need identification or anything makes it even better.

That is the problem. Even if something better will come out. The fact that banks are most used and became traditional to people to put their money in it is hard to change. There is thinking that is it much easier. Plus, how can they trust bitcoin if his or her parents dont even know it.

[Mr.grin]

Bitcoin in the current situation will not affect the banking system. All the people who own and make banks much trying to find a way for the user control bitcoin. But the banks do not withdraw from the market.

It can affect the banking system when people who are using banking services sees that it is an advantage for them to use bitcoin for sending and accepting payment through it unless their senders and receiver are using bitcoin. Because it is not going to be covered by tax and the fees are even cheaper like the banks are charging but not just because of this, banks will remain and not going to disappear.

People will begin to wake up when they need it, bitcoin is not only faster than bank transfers and cheaper too, bitcoin is also faster than western union and almost anything I can imagine and the fact we don't need identification or anything makes it even better.

That is the problem. Even if something better will come out. The fact that banks are most used and became traditional to people to put their money in it is hard to change. There is thinking that is it much easier. Plus, how can they trust bitcoin if his or her parents dont even know it.

possible before making the band disappeared, we have to make them know and trust bitcoin to them as soon as possible, because without it, it will never make bitcoin bank disappeared. may have very many people know about bitcoin, but I guess they do not show it when outside the home. so, I feel they will never believe bitcoin if you have not seen the evidence, and bitcoin will never replace bank sanpai it happened.

[iqlimasyadiqa]

It seems that experts say that Bitcoin 'Here to Stay,' But Banks Could Disappear.

The best example for this is people have started using bitcoin as a mean of receiving and sending money over the internet, and I think many will do so as bitcoin becomes omnipresent, banks will start adopting bitcoin because everyone thinks that it is the future of money.

It means banks will disappear or banks will change themselves as bitcoin banks.

I agree with you . now everything is almost unchanged. financial system that exist in the world today has been running online. bitcoin future could be a new method, attractive, simple and also useful in any financial transaction.

[BlackPanda]

today bitcoin has many advantages when compared to the BANK. someday I'm sure that BANK will lose a lot of users. they will switch and use bitcoin as a primary payment method.

[Babayega31]

I think Banks will not disappear
but maybe they will use Bitcoin.

Yes, in fact we are looking forward for this thing to happen.
But bank will not replaced by bitcoin because of its government's support and even there are many people who are truly using bank.

That's true and it's hard to believe that a new young crypto currency will be able to replace the banking system that very easy way. That's why there are countries that are banning bitcoin because they know that it is going to be a demand cypto to their country and that can make people not obliged to pay their responsibility like tax.

Yes, they banned bitcoins in their country because they don't accept that the bitcoin will defeat banking systems because in bank you have a small profit but in bitcoins you can make your own money even your a kid depends on your strategy how to grow it.

No bitcoin doesn't make banks disappear because it needs bank in order to link digital currency to fiat currency so that there is currency exchange circulating online and then online wallet is capable of banking transaction which bank can collect charges from it. Online banking is very important to bitcoin so that it can be cash out to fiat currency because you cannot have in hand a digital currency without fiat.

[zagarcoin]

Bitcoin won't disappear so easily, because so many users bitcoin is currently . i believe that someday many countries will accept bitcoins.

[mastica]

Bitcoin won't disappear so easily, because so many users bitcoin is currently . i believe that someday many countries will accept bitcoins.

Pretty sure you havent read anything here neither the topic.
Bitcoin has potencial to grow, but it wont be enought to replace the fiat system, banks or any others companies services. Bitcoin has bringed inovation and returning the power to the people as in the past before banks exists. Banks does provide services that bitcoin are far away to be able to offer, im talking loans, people does buy their houses and pay for 40 years period, who would be insane to lend their bitcoin over 5-30 days knowing its potencial to grow over time?

[DoublerHunter]

Bitcoin won't disappear so easily, because so many users bitcoin is currently . i believe that someday many countries will accept bitcoins.

Pretty sure you havent read anything here neither the topic.
Bitcoin has potencial to grow, but it wont be enought to replace the fiat system, banks or any others companies services. Bitcoin has bringed inovation and returning the power to the people as in the past before banks exists. Banks does provide services that bitcoin are far away to be able to offer, im talking loans, people does buy their houses and pay for 40 years period, who would be insane to lend their bitcoin over 5-30 days knowing its potencial to grow over time?

Great point . That is one of the factors why bitcoin cannot replace or make banks disappear because bitcoin lack in features like giving opportunity to take loans like the banks does. Bitcoin and banks will stay and we cannot stick to just one of them because that will be hard for us to earn or take loans easily. Just use them both because they have their own uniqueness.

[Finestream]

Bitcoin won't disappear so easily, because so many users bitcoin is currently . i believe that someday many countries will accept bitcoins.

Pretty sure you havent read anything here neither the topic.
Bitcoin has potencial to grow, but it wont be enought to replace the fiat system, banks or any others companies services. Bitcoin has bringed inovation and returning the power to the people as in the past before banks exists. Banks does provide services that bitcoin are far away to be able to offer, im talking loans, people does buy their houses and pay for 40 years period, who would be insane to lend their bitcoin over 5-30 days knowing its potencial to grow over time?

Great point . That is one of the factors why bitcoin cannot replace or make banks disappear because bitcoin lack in features like giving opportunity to take loans like the banks does. Bitcoin and banks will stay and we cannot stick to just one of them because that will be hard for us to earn or take loans easily. Just use them both because they have their own uniqueness.

Loaning business is not only catered by the banks, there are also legitimate lending firm in this world where we can take loan passing their requirements, I believe banks are here to accept deposits and safeguard our money more and that can be done in bitcoin where we can put our money in our wallet while watching it grow at the same time.

[morgand]

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?

will not happen in my country because theres a lot people confident with the old style.. they dont give a trust about online wallet thing
so.. i think bank will not disappear

[Positid]

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?

will not happen in my country because theres a lot people confident with the old style.. they dont give a trust about online wallet thing
so.. i think bank will not disappear

It's not they don't have the confidence to use it, the main hindrance to adoption is they do not understand bitcoin because most of them have no business using bitcoin. Especially old people, they are resistant to changes, they want the old school.

[Lonthe]

If the use of the bitcoin in massive certainly could, but whether in the near future? It seems not, it took a long time so that bitcoin is known and used by many people.

[Mobilecasinos24]

I strongly disagree with what the expert says. We still need bank because business borrow money from them as well as ordinary people to purchase their home or even a car. Bitcoin would only be a type of currency that we use to buy.

[ffe]

I strongly disagree with what the expert says. We still need bank because business borrow money from them as well as ordinary people to purchase their home or even a car. Bitcoin would only be a type of currency that we use to buy.

I completely agree. Everyone seems to forget that the most important thing a bank does is convert one valuable thing, an ability to generate income over time (ex. a company with good products or a man with a good job), into another valuable thing, money, by giving them loans (new money with fractional reserve banking).

Bitcoin alone cannot do this. We need banks to judge the credibility of the business or the men that want this new money.

By the way, banks can do this with Bitcoin using fractional reserve banking as well. We'd get checking accounts denominated in Bitcoin. This is exactly the same as a Spanish bank in Spain allowing you to open a checking account denominated in dollars. With many such accounts, they would only keep a fraction of their liability in dollars. Fractional reserve banking again.

[nostra3]

I strongly disagree with what the expert says. We still need bank because business borrow money from them as well as ordinary people to purchase their home or even a car. Bitcoin would only be a type of currency that we use to buy.

People always need banks. Bitcoin might really be a nice currency and banks might really make a copy of its technology.

[Kasabus]

I strongly disagree with what the expert says. We still need bank because business borrow money from them as well as ordinary people to purchase their home or even a car. Bitcoin would only be a type of currency that we use to buy.

People always need banks. Bitcoin might really be a nice currency and banks might really make a copy of its technology.

What banks can offer us now, they can still do it in the future. Despite of the reality that bitcoin is surging now, we still gonna use bank in the future as bitcoin is always dependent on the value of fiat. They had to eliminate the government to make bitcoin an independent currency which I think will never happen.

[katrimans]

It seems that experts say that Bitcoin 'Here to Stay,' But Banks Could Disappear.

The best example for this is people have started using bitcoin as a mean of receiving and sending money over the internet, and I think many will do so as bitcoin becomes omnipresent, banks will start adopting bitcoin because everyone thinks that it is the future of money.

It means banks will disappear or banks will change themselves as bitcoin banks.

Definitely bank will become fluid and adopt Bitcoin to their advantage.  Don't forget behind this banking system are people who are knowledgeable about finance system and tweaked it according to their advantage.  This only means that banks despite of popularity of Bitcoin will remain as bank but with modified system having bitcoin within it and gain much advantage.

Of course that banks they will use bitcoin to their advantage, I mean take for example Nettler who has recently started adopting bitcoin as a way to fund your account balance, and they take a lot of fee on a transaction you make from it, so that way they get bitcoin from users free.

But regardless banks can’t adopt bitcoin unless the world accept it as a payment method which I don’t see governments doing so in the near future.