Can Bitcoin make Banks disappear?

[carlfebz2]

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.

Instead banks would create their own e-currency when the time comes that fiat would transfer to digital but bitcoin wont be still on the line and government would create their own coin which could able to be controlled.Banks would be still there no matter what even how bitcoin would progress in the future.

[TheWallStreetCrew]

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.

this is exactly why they wont exist wait till the next crash and wee will see

[richardsNY]

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.

Instead banks would create their own e-currency when the time comes that fiat would transfer to digital but bitcoin wont be still on the line and government would create their own coin which could able to be controlled.Banks would be still there no matter what even how bitcoin would progress in the future.

Banks don't really need to create their own currency as basically everything is digital already. It's just that they need to create (if it hasn't been created already) a platform or a system that is able to process everything instantly where all banks worldwide can transact with each other. I think in Europe there would be something similar launched where people could wire money to each other instantly before 2018 I believe. That's what I consider to be a huge step forward.

[john2231]

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.

Instead banks would create their own e-currency when the time comes that fiat would transfer to digital but bitcoin wont be still on the line and government would create their own coin which could able to be controlled.Banks would be still there no matter what even how bitcoin would progress in the future.

Banks don't really need to create their own currency as basically everything is digital already. It's just that they need to create (if it hasn't been created already) a platform or a system that is able to process everything instantly where all banks worldwide can transact with each other. I think in Europe there would be something similar launched where people could wire money to each other instantly before 2018 I believe. That's what I consider to be a huge step forward.

You have a point so bitcoin is just an alternative for those people are want to be anonymous.. unlike bank that you need to verify your self first and have records before you can have banks account..
So if we are seeing the adotion of bitcoin i think we will see more adoption in banks if they seen more develop feature in bitcoin are increase that can increase also the adoption for banks just to give a good service to people.. and we can also use it online.. transaction look at pioneer world wide we can use it..

[markyminer]

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.

but what do you think that when at least 80% of people will start using bitcoin. i do not think that it is even possible in near future, after some decades i think only a few number of people will be able to start using bitcion in their real life.

[richardsNY]

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.

Instead banks would create their own e-currency when the time comes that fiat would transfer to digital but bitcoin wont be still on the line and government would create their own coin which could able to be controlled.Banks would be still there no matter what even how bitcoin would progress in the future.

Banks don't really need to create their own currency as basically everything is digital already. It's just that they need to create (if it hasn't been created already) a platform or a system that is able to process everything instantly where all banks worldwide can transact with each other. I think in Europe there would be something similar launched where people could wire money to each other instantly before 2018 I believe. That's what I consider to be a huge step forward.

You have a point so bitcoin is just an alternative for those people are want to be anonymous.. unlike bank that you need to verify your self first and have records before you can have banks account..
So if we are seeing the adotion of bitcoin i think we will see more adoption in banks if they seen more develop feature in bitcoin are increase that can increase also the adoption for banks just to give a good service to people.. and we can also use it online.. transaction look at pioneer world wide we can use it..

I don't fully understand what you mean, but if it's that Bitcoin is pushing banks to upgrade their systems as they feel Bitcoin is pushing things, then yes. It's not for nothing that banks have improved their services significantly in the last 2 or so years. I can't directly proof that these acts of improvements are really due to Bitcoin, but I like to think that's exactly the case. Why? Because I am a hardcore Bitcoin supporter.

[kreskko]

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.

Instead banks would create their own e-currency when the time comes that fiat would transfer to digital but bitcoin wont be still on the line and government would create their own coin which could able to be controlled.Banks would be still there no matter what even how bitcoin would progress in the future.

Banks don't really need to create their own currency as basically everything is digital already. It's just that they need to create (if it hasn't been created already) a platform or a system that is able to process everything instantly where all banks worldwide can transact with each other. I think in Europe there would be something similar launched where people could wire money to each other instantly before 2018 I believe. That's what I consider to be a huge step forward.

You have a point so bitcoin is just an alternative for those people are want to be anonymous.. unlike bank that you need to verify your self first and have records before you can have banks account..
So if we are seeing the adotion of bitcoin i think we will see more adoption in banks if they seen more develop feature in bitcoin are increase that can increase also the adoption for banks just to give a good service to people.. and we can also use it online.. transaction look at pioneer world wide we can use it..

I don't fully understand what you mean, but if it's that Bitcoin is pushing banks to upgrade their systems as they feel Bitcoin is pushing things, then yes. It's not for nothing that banks have improved their services significantly in the last 2 or so years. I can't directly proof that these acts of improvements are really due to Bitcoin, but I like to think that's exactly the case. Why? Because I am a hardcore Bitcoin supporter.

The banking system can only keep pace with the times to take the minutes of the flow of financial trends and global processes only the best, and try to survive in a modern and harsh conditions. Thus, the banking system can compete with bitcoin.

[uneng]

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.

but what do you think that when at least 80% of people will start using bitcoin. i do not think that it is even possible in near future, after some decades i think only a few number of people will be able to start using bitcion in their real life.

When this happen the banks will become weak and won't have forces to compete against bitcoin, but they wil ltry to find another way to make profit, maybe investing in a centralized project of currency with many benefits for population or investing in a new decentralized currency but with ocult intentions to have the same benefits they have now, making more profit than any other person.

[audaciousbeing]

How will bitcoin even make the banking system disappear is something I am still trying to figure out but I see the banking system embracing the blockchain infrastructure for the safety of the customers deposit and investment from cyber attacks but overtaking of the sysytem by bitcoin is not happening the banking system not only have they not been with us for ages, they also have the support of government which gave it the legitimacy in which bitcoin is yet to get. If that is settled then we can see some competition but not now.

[bikbik2]

How will bitcoin even make the banking system disappear is something I am still trying to figure out but I see the banking system embracing the blockchain infrastructure for the safety of the customers deposit and investment from cyber attacks but overtaking of the sysytem by bitcoin is not happening the banking system not only have they not been with us for ages, they also have the support of government which gave it the legitimacy in which bitcoin is yet to get. If that is settled then we can see some competition but not now.

Today, banks are very reasonably come when they begin to adopt blockchain technology, and thus they can pull the rug from under the feet of bitcoin. I think that the current system is at war with his own weapon bitcoin.

[Mirconome]

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.

but what do you think that when at least 80% of people will start using bitcoin. i do not think that it is even possible in near future, after some decades i think only a few number of people will be able to start using bitcion in their real life.

When this happen the banks will become weak and won't have forces to compete against bitcoin, but they wil ltry to find another way to make profit, maybe investing in a centralized project of currency with many benefits for population or investing in a new decentralized currency but with ocult intentions to have the same benefits they have now, making more profit than any other person.

The advantages of using bitcoin is really undeniable, but only for those who understand the technology and enjoys cryptocurrency seriously. But we know the real figures on the number of bitcoin users relative to the main population of the world.

[coszy]

I think that the banking system or even a single, separately taken bank, and bitcoin is not the same thing with different concepts. Therefore, to say that someone who destroys, it is simply impossible.

[Pettuh4]

I think that the banking system or even a single, separately taken bank, and bitcoin is not the same thing with different concepts. Therefore, to say that someone who destroys, it is simply impossible.

I don't really get the angle you're coming from but if you meant Bitcoin cannot make the banks the disappear then I disagree with you because time and time again cryptocurrencies (bitcoin in this regard) are proving to the currency for the future due to the blockchain technology behind its operations. Wouldn't you be better off if you had all your bank account at your fingertips-easily accessible with even lower transaction fees whenever you effect a transfer? Talk about security and all and you'll know that the banks would not be able to stand the challenge in future.

[Winter1986]

I think that the banking system or even a single, separately taken bank, and bitcoin is not the same thing with different concepts. Therefore, to say that someone who destroys, it is simply impossible.

I don't really get the angle you're coming from but if you meant Bitcoin cannot make the banks the disappear then I disagree with you because time and time again cryptocurrencies (bitcoin in this regard) are proving to the currency for the future due to the blockchain technology behind its operations. Wouldn't you be better off if you had all your bank account at your fingertips-easily accessible with even lower transaction fees whenever you effect a transfer? Talk about security and all and you'll know that the banks would not be able to stand the challenge in future.

If bitcoin fully takes the leading position in the future, as the future assume the entire financial system, if, for example there will be no control or even tax or the possibility of taking and giving loans. Bitcoin is a very personal item.

[TTMNewsK]

As what I can see, those banks won't disappear.
There's a possibility that they'll start using the bitcoins in the future instead of the fiat currency.

[Botnake]

As what I can see, those banks won't disappear.
There's a possibility that they'll start using the bitcoins in the future instead of the fiat currency.

The right word to say is that they will be using digital currency but I'm sure it's not bitcoin. We are literally separate from the government as we are decentralize and we do not want to be run by government that we cannot be sure if they are clean or not. It's the purpose of bitcoin why it was invented, this is to give us freedom from government restrictions.

[burner2014]

As what I can see, those banks won't disappear.
There's a possibility that they'll start using the bitcoins in the future instead of the fiat currency.

We have same perspective and vision, that the bank won't ever disappear indeed bank will just see opportunity and enhance through bitcoin. There will be time that the bank will just open account for bitcoin users like a foreign account and that they will also exchange bitcoin to local currency and vice versa.

[gandame]

If I were to have that opinion, I must conclude that banks would not be disappeared because you cannot cash out or handle your converted btc to fiat without the banks. Many people entrusted their fiat savings to the bank and there is no reason for people to withdraw their savings just for bitcoin, and most importantly bank is the gateway for bitcoin to prosper in the future because you can save your converted bitcoin into fiat savings.

[Viscore]

If I were to have that opinion, I must conclude that banks would not be disappeared because you cannot cash out or handle your converted btc to fiat without the banks. Many people entrusted their fiat savings to the bank and there is no reason for people to withdraw their savings just for bitcoin, and most importantly bank is the gateway for bitcoin to prosper in the future because you can save your converted bitcoin into fiat savings.

Banks is what we need to make bitcoin prosper, we all started without bitcoin, some work for it but most of us buy it in exchange for our fiat. The moment we have our bitcoins, we either spend it or invest it, afterwards when we have an income and then cash out, we still need bank to withdraw our fiat. You see, it's a cycle, we need bank but bank does not need bitcoin.

[Roboabhishek]

yess bitcoins will make banks  disappear at all.in by 2022 most  of the people will start using bitcoins as their currency otherwise bitcoins will die in a very hard way .we have to work hard a lot everyday and make educate people about the bitcoin cryptocurrency.

I don't think what you are saying is going to happen because the services that banks provide no other can.
Example an ATM machine . I am sure that bitcoin creator namely Satoshi going to provide a service like that.