Can Bitcoin make Banks disappear?

[Jaxelrell]

No I do not think that the bitcoin can let the banks disappear, they are simply way too strong to get taken over, the government will always not tolerate this..

[Mr.grin]

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.

so true. I think so many processes required to bitcoin can compete with the banks. banks have greater support, not just from the government, however, all the support that came from all the people that exist in the country. Well, bitcoin has not had a great support like that, so I guess today bitcoin bank may not make disappear.

[Bitcoinsummoner]

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.

so true. I think so many processes required to bitcoin can compete with the banks. banks have greater support, not just from the government, however, all the support that came from all the people that exist in the country. Well, bitcoin has not had a great support like that, so I guess today bitcoin bank may not make disappear.

Banks are already been publish and we are need banks because they are a company that you can get your lawyer once this company are getting any frauds.. also they are banks who made our money and connected to the government. unlike bitcoin for now bitcoin is not so trusted from newbie because they are still heard many poeple are scam and use bitcoin in many illegal activities so for me i vote that it is impossible that banks can be replaced with bitcoin..

[nara1892]

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

that is right. bitcoin's market cap is very low than fiat. so it is not available to be used by every people around the world. it means that fiat will still exist. and as long as fiat exist, I think banks will still exist.

[gtglener]

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?

I agree with your points that banks have a lot of other tasks to complete not only to save money of people so banks will not be disappeared with the establishment of bitcoin.

[Botnake]

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?

I agree with your points that banks have a lot of other tasks to complete not only to save money of people so banks will not be disappeared with the establishment of bitcoin.

Banks could do both, lending and accepting deposits from the public. Like it has been save many times, banks is a business of trust, they always live to that to attract people to deposit their funds in promise to safeguard their funds and in return with a small interest.

Bitcoin is only limited as a currency we can use for online transaction where no management that would update the laws of our banking system as it's fixed which is decentralized.

While with banks, they have the central bank who regularly monitor their compliance and update the laws to protect always the interest of the depositors.

[care2yak]

Well here's another answer and I'm quoting from frankly1...

though bitcoin is a Jet. it seems the banks are building the hyperledger aircraft carrier, and getting involved with letting the Jet sit on it

check out hyperledger. (members: blockstream and the banks)
https://www.hyperledger.org/about/members

check out who is attending the Satoshi roundtable (blockstream and the banks)
https://bitcointalk.org/index.php?topic=1745409.0

So bitcoin won't make banks disappear. Banks will want to learn more about bitcoin and the blockchain and use it to their advantage

[btcdiggingmaster]

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.

It is not possible because because bitcoin are completely accepted by the government till now, yes right now many people are doing bank transaction to buy bitcoin, they are accepting it because till now government not suggested them to ban those transaction. Once if governments accepts bitcoin than banks will setup up a separate data centers for bitcoin exchanges like buying and selling according to market capitalization.

[JANGKRIK BOSS]

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?

I agree with your points that banks have a lot of other tasks to complete not only to save money of people so banks will not be disappeared with the establishment of bitcoin.

Certainly the country will protect the bitcoin, channeling money and money circulation of course still the task of the bank. Although the bitcoin already massive use will never eliminate the function of the bank.

[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.

It is not possible because because bitcoin are completely accepted by the government till now, yes right now many people are doing bank transaction to buy bitcoin, they are accepting it because till now government not suggested them to ban those transaction. Once if governments accepts bitcoin than banks will setup up a separate data centers for bitcoin exchanges like buying and selling according to market capitalization.

Why would any government "accept" Bitcoin? It doesn't make any sense as it's simply not in their interest to show whatever support for Bitcoin. The only thing they care about when it comes to Bitcoin is the technology behind Bitcoin, the blockchain. That's why not only governments and banks, but also corporations look to develop a private (centralized) version of the blockchain. Especially because of the fact that it will allow them to operate far more cost and time effective.

[jossiel]

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?

I agree with your points that banks have a lot of other tasks to complete not only to save money of people so banks will not be disappeared with the establishment of bitcoin.

Certainly the country will protect the bitcoin, channeling money and money circulation of course still the task of the bank. Although the bitcoin already massive use will never eliminate the function of the bank.

What? Do you think that a country will protect bitcoin and not the banks? There are even countries that are not welcoming bitcoin.

And that is a sign which bitcoin cannot replace banks. Because those services that are being provided by the banks are important for the citizens.

Because people that are not knowledgeable with bitcoin are not going to trust it easily.

[deppil]

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?

I agree with your points that banks have a lot of other tasks to complete not only to save money of people so banks will not be disappeared with the establishment of bitcoin.

Certainly the country will protect the bitcoin, channeling money and money circulation of course still the task of the bank. Although the bitcoin already massive use will never eliminate the function of the bank.

True though bitcoin widely used even though later it would not make banks disappear, because banks controlled by the government, so the government will always defend the bank from any threat

[poplolnman]

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?

I agree with your points that banks have a lot of other tasks to complete not only to save money of people so banks will not be disappeared with the establishment of bitcoin.

Certainly the country will protect the bitcoin, channeling money and money circulation of course still the task of the bank. Although the bitcoin already massive use will never eliminate the function of the bank.

What? Do you think that a country will protect bitcoin and not the banks? There are even countries that are not welcoming bitcoin.

And that is a sign which bitcoin cannot replace banks. Because those services that are being provided by the banks are important for the citizens.

Because people that are not knowledgeable with bitcoin are not going to trust it easily.

i wouldn't say bitcoin can't reaplace banks. cause nothing impossible and so does in this matter. indeed for now we can't see a strong reason why banks could be replaced by bitcoin, but who knows in the future? where bitcoin / cryptocurrency system urgently needed . people would of course follow and use bitcoin technology instead banks.

[john2231]

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?

I agree with your points that banks have a lot of other tasks to complete not only to save money of people so banks will not be disappeared with the establishment of bitcoin.

Certainly the country will protect the bitcoin, channeling money and money circulation of course still the task of the bank. Although the bitcoin already massive use will never eliminate the function of the bank.

What? Do you think that a country will protect bitcoin and not the banks? There are even countries that are not welcoming bitcoin.

And that is a sign which bitcoin cannot replace banks. Because those services that are being provided by the banks are important for the citizens.

Because people that are not knowledgeable with bitcoin are not going to trust it easily.

i wouldn't say bitcoin can't reaplace banks. cause nothing impossible and so does in this matter. indeed for now we can't see a strong reason why banks could be replaced by bitcoin, but who knows in the future? where bitcoin / cryptocurrency system urgently needed . people would of course follow and use bitcoin technology instead banks.

Its obvious that its impossible to happen and people are always taking care their money where they can save their money for safety.. do you think people will trust bitcoin and save their money for the long time in bitcoin.. they are always want that their money to be safe.. so banks is their to taking their money..  because bitcoin still online currency and they can not trust their money in bitcoin wallet..

[Babayega31]

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?

I agree with your points that banks have a lot of other tasks to complete not only to save money of people so banks will not be disappeared with the establishment of bitcoin.

Certainly the country will protect the bitcoin, channeling money and money circulation of course still the task of the bank. Although the bitcoin already massive use will never eliminate the function of the bank.

What? Do you think that a country will protect bitcoin and not the banks? There are even countries that are not welcoming bitcoin.

And that is a sign which bitcoin cannot replace banks. Because those services that are being provided by the banks are important for the citizens.

Because people that are not knowledgeable with bitcoin are not going to trust it easily.

i wouldn't say bitcoin can't reaplace banks. cause nothing impossible and so does in this matter. indeed for now we can't see a strong reason why banks could be replaced by bitcoin, but who knows in the future? where bitcoin / cryptocurrency system urgently needed . people would of course follow and use bitcoin technology instead banks.

Its obvious that its impossible to happen and people are always taking care their money where they can save their money for safety.. do you think people will trust bitcoin and save their money for the long time in bitcoin.. they are always want that their money to be safe.. so banks is their to taking their money..  because bitcoin still online currency and they can not trust their money in bitcoin wallet..

I also agree with that its impossible to happen because many investors entrusted their money to banks and they don't want that to happen. Bitcoin is a unique type of currency in a different way and it doesn't mean if we use bitcoin it will disappear; it has its own advantages and fiat currency in banks safekept by investors is secured so if you cash out your btc you need the bank for your savings for the future and storing bitcoin at online wallet is unsecured because its vulnerable to be hacked.

[FrannWilder]

No I do not think that banks can be destroyed by the bitcoin itself, the government will indeed stop this and the banks itself also has enough power to stop this easily.

[Etaurith]

No I do not think that banks can be destroyed by the bitcoin itself, the government will indeed stop this and the banks itself also has enough power to stop this easily.

Indeed the fact that they have too much power to let them disappear, I think that it even will be more likely the opposite in the future.

[Jackido]

No I do not think that banks can be destroyed by the bitcoin itself, the government will indeed stop this and the banks itself also has enough power to stop this easily.

Yes, It can . if bitcoin is accepted by government , I'm sure Bitcoin can make banks disappear at one. Now. there are many people using bitcoin for payment, purchase, trading online. It's easy and fast in transaction.

[Rinder]

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?

I agree with your points that banks have a lot of other tasks to complete not only to save money of people so banks will not be disappeared with the establishment of bitcoin.

Certainly the country will protect the bitcoin, channeling money and money circulation of course still the task of the bank. Although the bitcoin already massive use will never eliminate the function of the bank.

What? Do you think that a country will protect bitcoin and not the banks? There are even countries that are not welcoming bitcoin.

And that is a sign which bitcoin cannot replace banks. Because those services that are being provided by the banks are important for the citizens.

Because people that are not knowledgeable with bitcoin are not going to trust it easily.

i wouldn't say bitcoin can't reaplace banks. cause nothing impossible and so does in this matter. indeed for now we can't see a strong reason why banks could be replaced by bitcoin, but who knows in the future? where bitcoin / cryptocurrency system urgently needed . people would of course follow and use bitcoin technology instead banks.

Its obvious that its impossible to happen and people are always taking care their money where they can save their money for safety.. do you think people will trust bitcoin and save their money for the long time in bitcoin.. they are always want that their money to be safe.. so banks is their to taking their money..  because bitcoin still online currency and they can not trust their money in bitcoin wallet..

Banks arent soo safe as they look and they advertise, but well currently its the main place where people let their money and fortunes, and they wont moove into bitcoin or any other crypto currencie, even if a bank creat a crypto coin it will be hard to trust them, crypto its something new for the most it will require time to be understood and supported by all people.

[Harlot]

No I do not think that banks can be destroyed by the bitcoin itself, the government will indeed stop this and the banks itself also has enough power to stop this easily.

Yes, It can . if bitcoin is accepted by government , I'm sure Bitcoin can make banks disappear at one. Now. there are many people using bitcoin for payment, purchase, trading online. It's easy and fast in transaction.

Why? Now let say the government accepts Bitcoin then automatically Businesses and related establishments will also accept Bitcoin because it is now legal in their country and that is including banks. Banks or Big companies can adapt to big changes and that is including the adaption of Bitcoin to their system. No tycoon will close down because of some kind of currency.