Can Bitcoin make Banks disappear?

[stadus]

I don't think that bitcoin has the potential to make banks disappear or even make banks useless . the government especially those elites wouldn't want it to happen even if they already have the control in bitcoin .

Yes, banks is the  economic and monetary lifeline of every country and it cant be replaced by BTC, plus how can we encash our BTC if the banks disappear.

Yup in this world we live in Cash is still king. Bitcoin without banks or even Fiat can't act on his own. Bitcoin will have no value on the majority of people who don't know it yet. Even in the near future I can't see Bitcoin overtaking any Fiat currency. Because in order for you to use Bitcoin you need to have internet and not all people have internet.

As bitcoin users and supporters as well we think of the better future of bitcoin, but let us consider the reality that it will never be bigger than fiat. We can use both to have a better like gaining from the benefits of using bitcoin, however we cannot deny that all people needs fiat as it's widely accepted compared to bitcoin.

[sadiq basha]

Bitcoins cannot make banks disappear. But it will considerably decrease the amount of people using banks. In future, even a situation could arise in which banks could only be used for getting loans and no transactions done through banks.

[aarturka]

I've little doubt banks become meaningless in a few years

[care2yak]

Maybe not. But it could make banks evolve. If bitcoin becomes mainstream crypto, banks will want to earn what exchanges and some wallets like Exodus, for example are earning from bitcoin holders' transactions. So bitcoin won't necessarily make banks disappear because they won't accept it now but in the future, they'll realize that they'll want to earn from the transaction charges exchanges and wallets make.

[lol3c]

Bitcoins cannot make banks disappear. But it will considerably decrease the amount of people using banks. In future, even a situation could arise in which banks could only be used for getting loans and no transactions done through banks.

Indeed. Digital currencies are still pretty new to people and I doubt that bank will disappear in the next few year. Bitcoin and other crytos need to do a lot of things to be adopted and recognized by people and this process may take at least 20 years. If this process every finished, banks would disappear in about 30 years after the adoption

[BeGoods]

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.

to me i think bitcoin is not here to make banks disappear.

It's true, and even if we think of that, it will not happen as we do not have the power to do it. Bank will be superior than bitcoin because the government supports them and we are not.

not because bitcoin is weaker, but bitcoin was created as a payment option I think, because it is not possible bitcoin to shift fiat that entrenched hundreds of years (used by all countries)
because banks used to fiat

[alphablitzer]

It is highly unlikely that Bitcoin can make banks disappear. A lot of influential people, wealthy people control banks and they already have power to their places. Banks also has taken part of the bitcoin system in some areas of the world because they can get fiat through banks exchanging bitcoin for it. Bitcoin can make banks stronger or weaker; we will see.

[Kemarit]

I don't think bitcoin will make banks disappear. While bitcoin has generated interest of the public the and fact that government has not supported it, bitcoin has little hope of killing the banking system.

[Mr. Big]

I don't think bitcoin will make banks disappear. While bitcoin has generated interest of the public the and fact that government has not supported it, bitcoin has little hope of killing the banking system.

And if it does, how will it replace other transactions that banks are offering? If bitcoin has answer to that, well, the only problem will be who will start, and which government will accept its existence without regulating... It might not happen, and I for my self, I am contented on what bitcoin now is and upgrades  on bitcoin is welcome, but becoming mainstream and being regulated by the government for the sake of banking, that's off... 

[Gutierez]

On basically, Bitcoin can kill the banks in the future if bitcoin is accepted as legal currency in the world. you are using bitcoin for payment, purchase, trading, investing or holding it as like as assests and currency. This is good condition to make a new change in the future and Of Course bitcoin will be a digital cryptocurrency bank in the future.

[BestWebCreator]

Bitcoin can make banks disappear, but only with permission from the banks, because their stay is determined by those banks. Think about what I am saying, it is true. I have talked to alot of banks and they gave me this impression.

[Digitalbitcoin]

I think banks are important and trusted financial network and there is necessity of Banks at grassroot level. Bitcoin is at certain level which have strong security and many other features, so I personally think that banks should be there for better distribution of Fiat currency to end user.

Bitcoin is Innovative invention which have already open door to new era of economics and Revolutionary finance system. So I think we have to respect Bitcoins parameter.

[1Referee]

Bitcoin can make banks disappear, but only with permission from the banks, because their stay is determined by those banks. Think about what I am saying, it is true. I have talked to alot of banks and they gave me this impression.

Banks can't do much without guidance from the government, and thus it's not the banks, but the governments that have the final bit of saying here. Banks don't only serve as an easy way of transacting, storing money, taking loans, etc, but also as a tool for governments to determine who owns what amount. It's not in the governments benefit to replace or change the current banking structure. But that's also not something we as Bitcoiners should be focusing at as it's quite pointless.

[Tanic]

On basically, Bitcoin can kill the banks in the future if bitcoin is accepted as legal currency in the world. you are using bitcoin for payment, purchase, trading, investing or holding it as like as assests and currency. This is good condition to make a new change in the future and Of Course bitcoin will be a digital cryptocurrency bank in the future.

Dew to bitcoin is limited currency (there are only 21 mln coins now) bitcoin will be not enough for all humanity on the Earth. So I really doubt that bitcoin will make banks disappear. I think bitcoin is going to be used just some pecent of people in future, and the maximum of this people will have less than 1 BTC.
When you give such global prognoses to bitcoin keep in mind that it is limited.

[machinek20]

On basically, Bitcoin can kill the banks in the future if bitcoin is accepted as legal currency in the world. you are using bitcoin for payment, purchase, trading, investing or holding it as like as assests and currency. This is good condition to make a new change in the future and Of Course bitcoin will be a digital cryptocurrency bank in the future.

Bitcoin or any crypto currencies wont be able to make bank disappear, bank is the economic foundation of a country, and bitcoin is not enough for all people in the world, if the all of the transaction in the world only depend on bitcoin to do the transaction there will be chaos in the country

[tabas]

Bitcoin can make banks disappear, but only with permission from the banks, because their stay is determined by those banks. Think about what I am saying, it is true. I have talked to alot of banks and they gave me this impression.

Banks can't do much without guidance from the government, and thus it's not the banks, but the governments that have the final bit of saying here. Banks don't only serve as an easy way of transacting, storing money, taking loans, etc, but also as a tool for governments to determine who owns what amount. It's not in the governments benefit to replace or change the current banking structure. But that's also not something we as Bitcoiners should be focusing at as it's quite pointless.

Yeah even though banks will allow to make their industry gone because of bitcoin still they are not the one to decide it. Since banks are one of the high paying tax industries and services for sure government will not allow this to happen and besides people will still rely to banks as it is more trusted rather than with a decentralized crypto.

[n0ne]

On basically, Bitcoin can kill the banks in the future if bitcoin is accepted as legal currency in the world. you are using bitcoin for payment, purchase, trading, investing or holding it as like as assests and currency. This is good condition to make a new change in the future and Of Course bitcoin will be a digital cryptocurrency bank in the future.

In the above quote its been well described about the bitcoin applications such as trading, investing, purchase and so on. At the same when it comes to banking, it emerged as an alternative for banking. So if public is not satisfied by the banking services they move for an alternate solution. But they won't completely ignore bank and move to bitcoin. I believe bitcoin replacing banks is highly impossible.

[thirdprize]

Banks look after your money, they lend it out, charge interest and then pay you interest.  In theory.  Bitcoin is just a bank account in isolation with none of the supporting infrastructure.  With no banks, who will give you a mortgage or an overdraft?  Where will small businesses get their startup capital from?

[Doamader]

I dont see bitcoin in the near future replacing such companies, banks has full support from their country, as well trust from the most people, that uses them for several services. Bitcoin to be replacing banks, it would require become legal, then centralized, and we do know this its impossible, soo no way to this happen.

[icqcointokenwallet]

Bitcoin will never make banks disappear. They would buy up the whole supply before they let that happen. If all the world banks got together and bought up what's in circulation and controlled the mining, that would be more suitable for them.