Can Bitcoin make Banks disappear?

[chrisvl]

No because some people will still use banks..,maybe in the near feature they will adopt the technology behind Bitcoin

[Doamader]

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.

I do agree with you, but those firms rates as i know are very high, and people only use them when they had already a bank problem into repaying some loan, atleast is what they do advertise at the media, tv. Bitcoin is no way near to replace anything, banks does control and rule the countries, since them are used to pay almost all salaries of the workers people, even politicians does use banks to get their payment as well make their investments.

[olubams]

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

Even over here, I dont see it happening because even with the banks that have stayed with us for ages quite a sizeable me members of the population have not been able to be captured into the banking sector sector not to talk of coming with a different payment system in its entirety. Where do we even start from? From the enlightenments to the provisions of internet to transact which is definitely not cheap... The will just continue to accommodate each other...

[Japinat]

No because some people will still use banks..,maybe in the near feature they will adopt the technology behind Bitcoin

They are already having some interest for adopting bitcoin for their services. But even though they will adopt it or just kind of interest that they will give to bitcoin still bitcoin doesn't has right to completely make the banks disappear. It is hard to do so as it is being followed and regulated by the government.

Banks can't adopt with bitcoin but what they are doing is they make a bitcoin like system, bitcoin is decentralized while bank can never be. Making their own would not attract people to adopt because we know that once centralized, we are being controlled and we do not want that as we always want freedom in life and for our transactions that cannot be spied by authorities.

[m1ph24]

Bitcoin also needs bank hahahahahahaha 

[morgand]

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.

and i hope someday, bank will accept deposit using bitcoin with i-dont-really-care method and algorithm, or maybe they will making they own coin, when all people start using it and talk about it.

[CoinFoxs]

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

i think the question raised is "Can bitcoin make bank disappear"?, and you answered  that no one can make bitcoin disappear Yes bitcoin have importance in the online market but there are still many countries who don't know about bitcoin. So it is difficult to make bank disappear because people have more trust on banks.

[Akash1243]

I don't think so that bitcoin can make banks disappear as many countries don't recognise or even legalise bitcoin so bitcoin making banks disappear would be very hard

[romero121]

I don't think so that bitcoin can make banks disappear as many countries don't recognise or even legalise bitcoin so bitcoin making banks disappear would be very hard

Think in this way. Though bitcoin is not legalized in most countries, it has grown high with its enormous potential. So anything could happen. None can assure that bitcoin replaces bank, only the ongoing adoption in terms of users and adoption of technology just paves way to go mainstream similar to banks.

[Rishabh riyz]

I don't think that bit coins will make banks vanish because not every nation has legalised it . Bank also gives us loan for different purposes like buying cars or anything else .bitcoin has to first overcome fiat .
Only bitcoin cannot do this . Everyone on this planet is not educated enough to use bitcoins .it would be a big journey to introduce bitcoins to them.but bank it is already giving loans making, accounts etc :-

[NyeFe]

Bitcoin can't make banks disappear, but It'll definitely give users secondary options,which would rather suit saving accounts.

[skyway1]

No I do think this can happen in my opinion this is highly unlikely but we will see what is gonna happen of course because the fact is that its not to predict.
The banks are controlling the world and they have a lot of power that is why I do not think the bitcoin do it.

[BeManga]

i dont think bitcoin can make bank disappear
we can become anonymous in bitcoin but that thing itself is the problem
not everyone like to hide their money or not like to put their money in not centralized currency
especially if you experience problem or bitcoin got problem how will you get back your money
unlike bank its centralized you can get the team behind it and  owner information
bank adopt bitcoin have much higher possibility
while anyone can become anonymous while other can put their bitcoin in bank for higher security

[Positid]

No I do think this can happen in my opinion this is highly unlikely but we will see what is gonna happen of course because the fact is that its not to predict.
The banks are controlling the world and they have a lot of power that is why I do not think the bitcoin do it.

Banks will always serve us even bitcoin will skyrocket, there must be a reason why the government put bank and that is to safeguard our assets if we prefer to deposit it, big businesses does not keep their money themselves, they put it in the bank.

[upsidedown75]

No I do think this can happen in my opinion this is highly unlikely but we will see what is gonna happen of course because the fact is that its not to predict.
The banks are controlling the world and they have a lot of power that is why I do not think the bitcoin do it.

But banks have always found a way to adopt to the latest technologies and surely if the bitcoin becomes more and more popular and more investments were put into it, they will defiantly adopt and start using it as well, many online banks are starting to go down that road  since a lot of the online freelancers use bitcoins.

[tabas]

Bitcoin can't make banks disappear, but It'll definitely give users secondary options,which would rather suit saving accounts.

It really can't make the banks disappear unless bitcoin will be supported by a country to make it banks replaced immediately. But I don't think that a certain country will support this decentralized crypto currency. They may support it in a way of adoption so that they will have some other source of taxation but making it their own bank and replace the usual bank, I don't think so.

[skyway1]

The bitcoin is strong but I think not so strong, I think its also very dependable on the upcoming years.
If the bitcoin will grow with big numbers the next few years its possible in my opinion, but if this will not happen its highly unlikely.
My conclusion is that is not to predict at this time if I'm honest.

[jak3]

logically yes bitcoin can take  banks ingle handenly. but now a days banks startef some serious actions which they have not taken from these years.  at this rate it will take only some decades to reach  upto
us (us : bitcoiners)

[morgand]

No. Bank can't disappear. Bitcoin is Anonymous.
My child will get nothing if i die and forget to tell them about my btc address and keys.

[Bameras]

No. Bank can't disappear. Bitcoin is Anonymous.
My child will get nothing if i die and forget to tell them about my btc address and keys.

That is right. I would like to use banks.