Can Bitcoin make Banks disappear?

[Silberman]

It just don’t seem possible for banks to disappear, those institutions have been around for hundreds of years and it does not make a lot of sense for them to disappear that quickly.

[frendsento]

Well to answer your questions It's a big no! there is many incentive to use bank rather than bitcoin and their is too many services offered in banks that Bitcoin don't have and will not have , and another thing bank has been very useful to bitcoin users because it translates our virtual currency to real cash !

[Kasabus]

Well to answer your questions It's a big no! there is many incentive to use bank rather than bitcoin and their is too many services offered in banks that Bitcoin don't have and will not have , and another thing bank has been very useful to bitcoin users because it translates our virtual currency to real cash !

I agree on what  you stated,still banks are reliable source of fiat.Banks exists even those times that there is no bitcoin.Many are relying on what banks has to offer to its customer,there are lots benifits they guarantee if you intrusted your banking with them ,still banks have its strong foundation and i think it can never be dissapeared in that instant.

[TastyChillySauce00]

I don't think so Bank is important because we keep our money it is real money that you can hold it Bitcoins is just a virtual money.

i think the importance of bitcoin cannot be ignore so soon. as still less than 1% people are using bitcoin, therefore almost all the people of the world are using fait and banks are important for fiat therefore the importance of fiat cannot be be ignore in present time.

And remember that most of bitcoin holders will eventually exchange their bitcoin to local fiat through bank transfer which was done by the local exchangers when they're in need of it.
As long as those bitcoin holders still use bank transfer method then for Banks to disappear is near to impossible

[Zadicar]

I don't think so Bank is important because we keep our money it is real money that you can hold it Bitcoins is just a virtual money.

i think the importance of bitcoin cannot be ignore so soon. as still less than 1% people are using bitcoin, therefore almost all the people of the world are using fait and banks are important for fiat therefore the importance of fiat cannot be be ignore in present time.

And remember that most of bitcoin holders will eventually exchange their bitcoin to local fiat through bank transfer which was done by the local exchangers when they're in need of it.
As long as those bitcoin holders still use bank transfer method then for Banks to disappear is near to impossible

Even we do not base on that thing banks would really be still here and wont disappear since its backed up by government.You are right every user now need to exchange their bitcoins to fiat when they need it thats why fiat would be still there because it happens on banks and also bitcoin is getting value from fiat.

[ASHLIUSZ]

For me, bitcoins can not make banks disappear. First, they are now working together even they function differently. Their combinations is one of the successful moments especially to BTC. I consider both of them to improve and to have better development in our economy.

Yes banks cannot be disappeared easily by bitcoins. And as of the moment there is no bank that is ready to accept bitcoin but there are some that are showing interest with it. But this is a risky move for the banks, because of its decentralization that can cause economic collapse if all the people will use bitcoin because it doesn't have indefinite value.

Clearly it's impossible to happen, banks are for fiat and it cannot accept bitcoins as there definition of bitcoin is properly. Bitcoin will be widely used online but it will not a time that it will be legalized as a currency. Every country has their own, so why would a bank entertain bitcoin.

each country will definitely need a bank that will produce fiat, and it will continue to run. today, bitcoin has not been recognized as a currency, but already has a high price. but, with potential like that, bitcoin bank will not make disappear. it is because bitcoin is not created by the state, and I think, at this time, bitcoin is only seen as a tool to multiply money.

Every Country need good banks to have a good financial growth as well to manage the money in a good manner, so that it can be used for the right needful thing. Bitcoin has high potential to grow higher than banks, but people won't get adopted to it similar to the way they consider banks. Because banks can be used by common men which is not possible with bitcoin, which needs some technology related knowledge.

[XXXXXXXXXXXXX]

If people would start to think definitely, banks steal from you.

[carlerha]

The banks will not disappear because most of people in the world use bank credits. Like mortgage, vehicle loans, home loans, consumer loan or commercial loan. Maybe one day we can receive all these loans as a bitcoin but the place where we are going to receive all these loans is the banks.

But if people are not use fiat anymore, bank will be use less. loan money from bank is not good for us, the bank interest make us hard to pay our debt. The annuity interest is adverse the customer.

but i think it is no possible in near future that people will stop using fiat currency, because still a negligible % of people are using bitcoin as currency and it will take decades when at least half the people of the world will start using bitcoin. therefore i do not think that is possible in near future.

yes that is a fact that it is not possible that all the people of the world will stop fait and will use bitcoin for all their activities, because still a very little number of people are using bitcoin may be  not more than 1%. i also think that it will take  a lot of time.

[whizter]

If people would start to think definitely, banks steal from you.

i do not think that it is possible in near future because banks have so stable position and having the support of fiat therefore i do not think that the bitcoin community which is not so much in number can disappear banks so soon.

[Finestream]

If people would start to think definitely, banks steal from you.

i do not think that it is possible in near future because banks have so stable position and having the support of fiat therefore i do not think that the bitcoin community which is not so much in number can disappear banks so soon.

It will never be possible, the power of the government is big that they can ban even bitcoins and make it illegal for us users of it. Banks are the only only who can make fiat that is legalized by the government and no matter what happen, the government would not allow to be overtaken in terms of popularity by a non regulated currency.

[Silberman]

For me, bitcoins can not make banks disappear. First, they are now working together even they function differently. Their combinations is one of the successful moments especially to BTC. I consider both of them to improve and to have better development in our economy.

Yes banks cannot be disappeared easily by bitcoins. And as of the moment there is no bank that is ready to accept bitcoin but there are some that are showing interest with it. But this is a risky move for the banks, because of its decentralization that can cause economic collapse if all the people will use bitcoin because it doesn't have indefinite value.

Clearly it's impossible to happen, banks are for fiat and it cannot accept bitcoins as there definition of bitcoin is properly. Bitcoin will be widely used online but it will not a time that it will be legalized as a currency. Every country has their own, so why would a bank entertain bitcoin.

I'm thinking about its legalization is going to be possible for some countries, but even though it will be legalized for some countries. Still it is not going to affect the banking system, maybe some people will take the advantage of using bitcoin to prevent taxation from the bank. But it will still result in the same result, that it can't make the banks disappear.

Bitcoin does not need legalization since bitcoin is not like drugs and even if governments don't recognize bitcoin as a currency it does not change the fact bitcoin is one.

[Bitcoin0916]

For me, bitcoins can not make banks disappear. First, they are now working together even they function differently. Their combinations is one of the successful moments especially to BTC. I consider both of them to improve and to have better development in our economy.

Yes banks cannot be disappeared easily by bitcoins. And as of the moment there is no bank that is ready to accept bitcoin but there are some that are showing interest with it. But this is a risky move for the banks, because of its decentralization that can cause economic collapse if all the people will use bitcoin because it doesn't have indefinite value.

Clearly it's impossible to happen, banks are for fiat and it cannot accept bitcoins as there definition of bitcoin is properly. Bitcoin will be widely used online but it will not a time that it will be legalized as a currency. Every country has their own, so why would a bank entertain bitcoin.

I'm thinking about its legalization is going to be possible for some countries, but even though it will be legalized for some countries. Still it is not going to affect the banking system, maybe some people will take the advantage of using bitcoin to prevent taxation from the bank. But it will still result in the same result, that it can't make the banks disappear.

Bitcoin does not need legalization since bitcoin is not like drugs and even if governments don't recognize bitcoin as a currency it does not change the fact bitcoin is one.

Yes agree, as long as there has been no approval from the State or Government it seems that the existence of the bitcoin can make banks disappear is a mere dream. Better we introduce and caring official institutions to know and use bitcoin so use bitcoin can be massive and make the State think to legalize bitcoin.

[Bibite]

I don't think bitcoin can make banks disappear, however bitcoin can make the banks starting to use bitcoin

[soul-impact]

I don't think bitcoin can make banks disappear, however bitcoin can make the banks starting to use bitcoin

bitcoin can make bank disappear if more than 80% of people on this planet start using Bitcoin. Bitcoin and bank are totally different to each other because banks are a part of the centralized system while Bitcoin is created for the freedom.

[thirdprize]

I don't think bitcoin can make banks disappear, however bitcoin can make the banks starting to use bitcoin

bitcoin can make bank disappear if more than 80% of people on this planet start using Bitcoin. Bitcoin and bank are totally different to each other because banks are a part of the centralized system while Bitcoin is created for the freedom.

Won't the miners just become the bank then?  They would control everything.

[1Referee]

bitcoin can make bank disappear if more than 80% of people on this planet start using Bitcoin. Bitcoin and bank are totally different to each other because banks are a part of the centralized system while Bitcoin is created for the freedom.

Bitcoin can't make banks disappear. But that aside, it will never happen, but even if 80% of the people on earth make use of Bitcoin in one way or another, then it still doesn't mean banks will be outruled. Banks have a fixed position in the economy, also in benefit of the governments as they via that way know what level of wealth each person has, etc. Bitcoin will definitely grow in the future, but more in the way that the store of value and investment aspect will be the main reasons people make use of Bitcoin. Also don't forget that money transfers are important as well. But if you look at how it is to do your local shoppings with Bitcoin, then it's simply not interesting and convenient to use Bitcoin due to the confirmation times and increasing transaction fees. In that regard, fiat will still remain the main tool of people for their shoppings. Don't forget that a lot people simply don't see anything in Bitcoin, and thus won't be using it. Getting even 1% of the world population to use Bitcoin in one way or another will be a very difficult task.

[Zadicar]

I don't think bitcoin can make banks disappear, however bitcoin can make the banks starting to use bitcoin

bitcoin can make bank disappear if more than 80% of people on this planet start using Bitcoin. Bitcoin and bank are totally different to each other because banks are a part of the centralized system while Bitcoin is created for the freedom.

Won't the miners just become the bank then?  They would control everything.

Miners and blockchain does really acts as a bank since it is the main thing which processes entire bitcoin transaction which means it doesnt really need banks after all and also there are lots of online and hardware wallets to choose from and people would really like to hold of their own bitcoin or money without trusting it to banks which we know that it is regulated by the government.

[jennywhzz]

I hope one day bitcoins rule and there are no banks.

[morgand]

I hope one day bitcoins rule and there are no banks.

bitcoin rule yes
but, no bank? that will not happen
bank will always be there, they're good for some case.
bank have some rules and bank have security. User need to tell all information when making account at bank.
bitcoin? too annonymous, you dont have anything just private key.

[klf]

I hope one day bitcoins rule and there are no banks.

bitcoin rule yes
but, no bank? that will not happen
bank will always be there, they're good for some case.
bank have some rules and bank have security. User need to tell all information when making account at bank.
bitcoin? too annonymous, you dont have anything just private key.

Yes Bitcoin may become a legal currency in future, and all people will start to use this bitcoin transaction, But Banks will never disappear. Bitcoin is not a physical currency to store this money you don't need any physical place. But to store real currency, we need banks. And all business will do with real currency only. No one will entertain this digital currency.