Can Bitcoin make Banks disappear?

[boyptc]

I dont think can make the bank is disappear
the bank is a great for a county and economic system to controling inflation and deflation
and not everyone knows about bitcoin, but everyone knows about banks.

Yes it cannot make the banks disappear because the government is on the back of the banking sector and they are not going to allow someone will make the banking sector gone. But I think that banks will adopt bitcoin and there are some banks now that are ready in accepting services with the use of bitcoin.

[bitllionaire]

Banks are the strongest financial institutions we have at a moment which holds support from the Government and the society and bitcoin is not that strong enough which can make banks disappear as not many people are aware about bitcoins yet and they have more faith in banking system as it exist since long time and people do need banks for their daily financial transactions.

yes there is no doubt about this that banks are the strongest institute of the states. and will continue for a long time. until bitcoin become able to over fiat and may be then they start accepting bitcoin and create online wallets for that, but currently there is no threat to banks because still a very little number of people are using bitcoin. therefore may be it will take such a long time.

[FlightyPouch]

Bank is for the people that is saving their money which means the people are letting these banks hold their money for the future use. It is for fiat and not for cryptocurrency, so what will be the reason that banks will disappear because of bitcoin? Even if bitcoin is used by half of the world population banks will still exist because people are using real money. All the people might have their own bitcoin wallet, and that will not affect the banks.

[ASHLIUSZ]

Banks are the strongest financial institutions we have at a moment which holds support from the Government and the society and bitcoin is not that strong enough which can make banks disappear as not many people are aware about bitcoins yet and they have more faith in banking system as it exist since long time and people do need banks for their daily financial transactions.

yes there is no doubt about this that banks are the strongest institute of the states. and will continue for a long time. until bitcoin become able to over fiat and may be then they start accepting bitcoin and create online wallets for that, but currently there is no threat to banks because still a very little number of people are using bitcoin. therefore may be it will take such a long time.

Indeed. Bitcoin currently is not a threat of bank. The number of Bitcoin users is still not remarkable for the bank to beware of it. In the future, I hope that more and more people will use Bitcoin and as the results, banks will totally be destroyed by the bank. Bitcoin provides to its users a lot of benefits and the anonymity of Bitcoin will protect them from being recognized on the internet

Bitcoin is not at all a threat to the banking system thinking of the user rate compared to the banks. The technology is very effective to make it grow further towards high. As of now bitcoin in the future too won't replace banks when user rate increases very high equal to banks. Banks are used even by common man which is not possible with bitcoin use.

[pecson134]

From my standpoint it is still a little farfetch that it can out stand banks since the latter had already build a very strong foundation when it comes to currency/money itself. We know that the bitcoin industry growseveryday, we can't expect anything to change in just a day but it depends on the development as days passes just like how you earn money.

[zuyfg888]

From my standpoint it is still a little farfetch that it can out stand banks since the latter had already build a very strong foundation when it comes to currency/money itself. We know that the bitcoin industry growseveryday, we can't expect anything to change in just a day but it depends on the development as days passes just like how you earn money.

If there is a bitcoin bank, I think that, banks can disappear, or they can remove banks, and all of the bank transactions. We should know what will be the best for our bitcoin industry. We know that bitcoin can replace the paper money. We can also invest through bitcoins. We can earn a lot of profit through bitcoin.

[Rishabh riyz]

Bank is for the people that is saving their money which means the people are letting these banks hold their money for the future use. It is for fiat and not for cryptocurrency, so what will be the reason that banks will disappear because of bitcoin? Even if bitcoin is used by half of the world population banks will still exist because people are using real money. All the people might have their own bitcoin wallet, and that will not affect the banks.

As we can see that the new generation is more into the digital way
We are going to enter a new modern era where maybe in future because of a high potential crypto currency like bitcoins may overcome fiats
What happens when people start buying bitcoins instead of saving money in banks
Obviously one day they will come to know that the saving money in form of bitcoins is actually good  and everyone would start using bitcoin wallets
We all know that the Value of bitcoins are like waves ,they go real high and then can fall also
People would start saving money in bitcoins and then withdraw them or use them when the value is low
And when all this would become a problem then the Value of bitcoins would become stable in order to make things right

[sportis]

--snip--

If there is a bitcoin bank, I think that, banks can disappear, or they can remove banks, and all of the bank transactions. We should know what will be the best for our bitcoin industry. We know that bitcoin can replace the paper money. We can also invest through bitcoins. We can earn a lot of profit through bitcoin.

I believe that you are confused with the terms 'bitcoin' and 'bank'. You posted about bitcoin bank. But bitcoin is a decentralized p2p currency with no need of a third trust entity like as a bank, right? Or you want to say something like as anyone can deposit bitcoins and he can convert to fiat? But this is the same thing which is made by exchanges. So I really cannot understand what were you thinking when you  wrote  about a bitcoin bank. Can you clarify this meaning for me or can you post a link with this idea?

[Mbah Slamet]

Banks will never disappear, all transactions are heavily dependent from the bank, with the bank all things can be supervised and controlled. I'm sure even though use of the bitcoin great but will not make banks disappear.

[Viscore]

Banks will never disappear, all transactions are heavily dependent from the bank, with the bank all things can be supervised and controlled. I'm sure even though use of the bitcoin great but will not make banks disappear.

Because they are centralized and they need to comply with the law of the state. We need bank as fiat is our main tool using to transact now. Bitcoin, a new found technology would be good if it will co-exist with fiat but to replace fiat and make banks disappear, that is next to impossible.

[sunsilk]

Banks will never disappear, all transactions are heavily dependent from the bank, with the bank all things can be supervised and controlled. I'm sure even though use of the bitcoin great but will not make banks disappear.

Yes it will never disappear because a lot of people always need the services of the bank because they are not just for deposit and withdrawal.

They also do offer guides and tips for investments and they have thousands of professionals that are ready to serve us.

Although bitcoin is a good method if those professionals will apply it with bitcoin.

[redsun114]

Banks will never disappear, all transactions are heavily dependent from the bank, with the bank all things can be supervised and controlled. I'm sure even though use of the bitcoin great but will not make banks disappear.

Because they are centralized and they need to comply with the law of the state. We need bank as fiat is our main tool using to transact now. Bitcoin, a new found technology would be good if it will co-exist with fiat but to replace fiat and make banks disappear, that is next to impossible.

Well, it is hard but not impossible. I know a lot of people who were using banks but now since they involved in bitcoin their 100% works depends on bitcoin and they are very happy and satisfied with them.
bank are still holding economy but if you see, you'll know lots of people are not happy with banks and their unfair taxes and charges.. stopping the whole world from using banks and only use bitcoin is not easy but it is happening slowly.

[HarringtonStark]

Bitcoin has no power to make and take banks downs,with the full advantages against the bank system ,based on fiat,bitcoin isnt a threat to them,as they have the support from all costumers,just some ,maybe us and some others just dont like them.

Yes bank will likely adapt and accept bitcoin once it became mainstream like fiat.

[KuromaYoichi]

Ummm, I dont think bitcoin will make Banks disappear. Many people must use banks for their business at least in my country. Incase bitcoin accepted as worldwide currency, i'm sure Banks will change the way they operate. I don't know about many years later, but i don't see it happening (bank disappear) at least in my lifetime.

[diegz]

Ummm, I dont think bitcoin will make Banks disappear. Many people must use banks for their business at least in my country. Incase bitcoin accepted as worldwide currency, i'm sure Banks will change the way they operate. I don't know about many years later, but i don't see it happening (bank disappear) at least in my lifetime.

Exactly, they will adopt to the needs of its customers. Bank owners are not fool to just shut down their business because there is a great competition, but rather,they would make their service better and adopt new technology so they could survive. Lets not forget that banks play important role in the economy. They won't be staying that long if they do not do things that could make them better. 

[dontworry]

Bitcoin can't make bank disappear. Bitcoin and banks are completely different things.

Banks will not be allowed to provide Bitcoin related services unless Bitcoin is centralized and regulated. Bitcoin and banks are not competitors.

Also banks don't need to improve anything to reach Bitcoin and I don't understand why some posters think that Banks are technologically behind of Bitcoin. Internet banking system is well established and more advanced technology compared to Bitcoin. Conversely Bitcoin is new and is subject to be improved until it's established. There is no competition between Banks and Bitcoin as they are really different things. They provide different services to different type user base.

[zuyfg888]

Bitcoin can't make bank disappear. Bitcoin and banks are completely different things.

Banks will not be allowed to provide Bitcoin related services unless Bitcoin is centralized and regulated. Bitcoin and banks are not competitors.

Also banks don't need to improve anything to reach Bitcoin and I don't understand why some posters think that Banks are technologically behind of Bitcoin. Internet banking system is well established and more advanced technology compared to Bitcoin. Conversely Bitcoin is new and is subject to be improved until it's established. There is no competition between Banks and Bitcoin as they are really different things. They provide different services to different type user base.

A lot of differences between bitcoin and banks. Just like bitcoin, bitcoins also have the same thing like banks, Banks have the account, and bitcoin have a wallet address, for their differences, bitcoin has a wallet address, but the banks have the account number. In banks, you can loan a big money, without any risks, while in bitcoins, a lot of scammer in bitcoins. A lot of negative effects for bitcoin, but, there is also a vice versa for that.

[Botnake]

Bitcoin can't make bank disappear. Bitcoin and banks are completely different things.

Banks will not be allowed to provide Bitcoin related services unless Bitcoin is centralized and regulated. Bitcoin and banks are not competitors.

Also banks don't need to improve anything to reach Bitcoin and I don't understand why some posters think that Banks are technologically behind of Bitcoin. Internet banking system is well established and more advanced technology compared to Bitcoin. Conversely Bitcoin is new and is subject to be improved until it's established. There is no competition between Banks and Bitcoin as they are really different things. They provide different services to different type user base.

A lot of differences between bitcoin and banks. Just like bitcoin, bitcoins also have the same thing like banks, Banks have the account, and bitcoin have a wallet address, for their differences, bitcoin has a wallet address, but the banks have the account number. In banks, you can loan a big money, without any risks, while in bitcoins, a lot of scammer in bitcoins. A lot of negative effects for bitcoin, but, there is also a vice versa for that.

The opportunity to take a loan is possible with bitcoin, there are lenders here who are willing to give you a loan with a minimize interest and easy collateral. What makes bank different from bitcoin is the fact that bitcoin is decentralized, you cannot change the current system unlike the bank where they are upgrading form time to time. Bitcoin gives us freedom unlike in banks where they have the power to freeze our funds once it is proven coming from illegal activities.

[philiveyjr]

Bitcoin can't make bank disappear. Bitcoin and banks are completely different things.

Banks will not be allowed to provide Bitcoin related services unless Bitcoin is centralized and regulated. Bitcoin and banks are not competitors.

Also banks don't need to improve anything to reach Bitcoin and I don't understand why some posters think that Banks are technologically behind of Bitcoin. Internet banking system is well established and more advanced technology compared to Bitcoin. Conversely Bitcoin is new and is subject to be improved until it's established. There is no competition between Banks and Bitcoin as they are really different things. They provide different services to different type user base.

Yeah, Its like saying if there's digital money, will banks still run? Of course banks will still run without a problem. If bitcoins really grows and is adapted by the society at large. Then we might see some banks adopting bitcoins into their system.

[Kasabus]

Bitcoin can't make bank disappear. Bitcoin and banks are completely different things.

Banks will not be allowed to provide Bitcoin related services unless Bitcoin is centralized and regulated. Bitcoin and banks are not competitors.

Also banks don't need to improve anything to reach Bitcoin and I don't understand why some posters think that Banks are technologically behind of Bitcoin. Internet banking system is well established and more advanced technology compared to Bitcoin. Conversely Bitcoin is new and is subject to be improved until it's established. There is no competition between Banks and Bitcoin as they are really different things. They provide different services to different type user base.

Yeah, Its like saying if there's digital money, will banks still run? Of course banks will still run without a problem. If bitcoins really grows and is adapted by the society at large. Then we might see some banks adopting bitcoins into their system.

Banks want to dominant the financial world and they would not allow bitcoin to rule, the bank will not adopt with the blockchain system as they cannot adopt a decentralized system. Whatever improvement bank will make, the centralization will always considered and shall remain.