Can Bitcoin make Banks disappear?

[stadus]

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.

As always, they are doing it because the government are on their side. We believe that bitcoin will give us freedom but without the support of the government we cannot continue to enjoy it. The future is still not a guarantee for success although the current status would imply a bright future.
The government will do things in their favor, so we should not trust so much with our investment to minimize the risk.

[JANGKRIK BOSS]

Very likely, when all transactions can be done by yourself without any bank will certainly make the banks deserted and slowly can close the business. I'm sure if everyone using bitcoin, then the bank will close automatically but no time soon, because the user has not been much bitcoin.

[Mr.grin]

Very likely, when all transactions can be done by yourself without any bank will certainly make the banks deserted and slowly can close the business. I'm sure if everyone using bitcoin, then the bank will close automatically but no time soon, because the user has not been much bitcoin.

it will happen when everyone is using bitcoin, and do not use the bank to save money. but, in reality there are always people who put their money in the bank. other than that, this time, bitcoin only be viewed as a very good business for those who have understood. bitcoin will probably make the banks disappears when everyone has turned to save money they have into bitcoin.

[diegz]

Very likely, when all transactions can be done by yourself without any bank will certainly make the banks deserted and slowly can close the business. I'm sure if everyone using bitcoin, then the bank will close automatically but no time soon, because the user has not been much bitcoin.

Not really going to happen that easy. Lets keep in mind that it's not just the money transaction that are happening in banks. They are holding others that are important to the community. When we are holding bitcoin, it would just be like holding a money. I believe that if all the products in the world are payable with bitcoin, and it is recognized everywhere, and exchanges have their offices and doing some bank tasks, that's the end of the banks.  

[wildan88]

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. 

the Bank could reach the whole community up and down to use it, while the bitcoin is still limited and only certain people who use it. because it must always be connected to the internet. so it's unlikely the bank will disappear because of bitcoin. or maybe banks adopt bitcoin

[lienfaye]

Very likely, when all transactions can be done by yourself without any bank will certainly make the banks deserted and slowly can close the business. I'm sure if everyone using bitcoin, then the bank will close automatically but no time soon, because the user has not been much bitcoin.

That is only possible if all of us are using bitcoin but as i can see it is not recognize yet especially here in our place so it wont gonna happen sooner majority of people trust banks.

[Reid]

Very likely, when all transactions can be done by yourself without any bank will certainly make the banks deserted and slowly can close the business. I'm sure if everyone using bitcoin, then the bank will close automatically but no time soon, because the user has not been much bitcoin.

That is only possible if all of us are using bitcoin but as i can see it is not recognize yet especially here in our place so it wont gonna happen sooner majority of people trust banks.

And that is a way far of our concerns and I dont think we are still alive to see that. Everyone using bitcoin? While it is being more used at the deep web for illegal transactions. It is hurting the trust of those people who wants to be part of this crypto currency while those evil syndicates are using it more just for their selfish reasons. This should be changed first or else something bad might happen if it this goes for too long.

[MMA]

Very likely, when all transactions can be done by yourself without any bank will certainly make the banks deserted and slowly can close the business. I'm sure if everyone using bitcoin, then the bank will close automatically but no time soon, because the user has not been much bitcoin.

Not really going to happen that easy. Lets keep in mind that it's not just the money transaction that are happening in banks. They are holding others that are important to the community. When we are holding bitcoin, it would just be like holding a money. I believe that if all the products in the world are payable with bitcoin, and it is recognized everywhere, and exchanges have their offices and doing some bank tasks, that's the end of the banks.  

yes it is not going to happen so easily, because banks are dealing in fiat and fiat are still very strong because 99% people are still depending on fiat. while on other had governments are also supporting banks, therefore bitcoin is not yet going to disappear banks. but may be in future when all the people of the world will become so much educated and if they will start using bitcoin and online wallet then may be bitcoin disappear banks.

[paul gatt]

NO, this is a mistake of your thought, Bitcoin can not make the banks disappear, because the bank is the most basic foundation of the existence of Bitcoin. if the banks disappear, then the value of Bitcoin is no longer, the value of Bitcoin is based on the value of real money. It is certain, however, thrive Bitcoin will affect banks. This will be difficult, but it can not do the banks disappear

[Mr. Big]

NO, this is a mistake of your thought, Bitcoin can not make the banks disappear, because the bank is the most basic foundation of the existence of Bitcoin. if the banks disappear, then the value of Bitcoin is no longer, the value of Bitcoin is based on the value of real money. It is certain, however, thrive Bitcoin will affect banks. This will be difficult, but it can not do the banks disappear

Trust me, if bank disappear, I doubt that bitcoin will also disappear... 

They are two different thing, and only the same thing in one - which is money... But anyway, maybe the production of money will be reduced in time, but I doubt if banks are going to close because of bitcoin... Who knows, one day we will be seeing bitcoin in banks... 

[8Habits]

NO, this is a mistake of your thought, Bitcoin can not make the banks disappear, because the bank is the most basic foundation of the existence of Bitcoin. if the banks disappear, then the value of Bitcoin is no longer, the value of Bitcoin is based on the value of real money. It is certain, however, thrive Bitcoin will affect banks. This will be difficult, but it can not do the banks disappear

Trust me, if bank disappear, I doubt that bitcoin will also disappear... 

They are two different thing, and only the same thing in one - which is money... But anyway, maybe the production of money will be reduced in time, but I doubt if banks are going to close because of bitcoin... Who knows, one day we will be seeing bitcoin in banks... 

I totally agree with this. Bitcoin won't make banks disappear because the former is just an alternative for online and offline transactions - basically online transactions. While bank, caters fiat money that people are using regularly in day to day basis.

[MMA]

NO, this is a mistake of your thought, Bitcoin can not make the banks disappear, because the bank is the most basic foundation of the existence of Bitcoin. if the banks disappear, then the value of Bitcoin is no longer, the value of Bitcoin is based on the value of real money. It is certain, however, thrive Bitcoin will affect banks. This will be difficult, but it can not do the banks disappear

Trust me, if bank disappear, I doubt that bitcoin will also disappear... 

They are two different thing, and only the same thing in one - which is money... But anyway, maybe the production of money will be reduced in time, but I doubt if banks are going to close because of bitcoin... Who knows, one day we will be seeing bitcoin in banks... 

I totally agree with this. Bitcoin won't make banks disappear because the former is just an alternative for online and offline transactions - basically online transactions. While bank, caters fiat money that people are using regularly in day to day basis.

in fact bitcoin is not gong to disappear banks, because the use of bitcoin is still very little and fiat is still very strong as compare to bitcoin and perhaps bitcoin become so popular that all the people have started using bitcoin, the may be banks also accept bitcoin, they will create wallet for it ans willalso start depositing and withdrawal of bitcoin

[Vikingr]

Very likely, when all transactions can be done by yourself without any bank will certainly make the banks deserted and slowly can close the business. I'm sure if everyone using bitcoin, then the bank will close automatically but no time soon, because the user has not been much bitcoin.

I think the purpose and duty of banks is not to regulate the transactions only but their main works are many more like facilitating the financial affairs of government and other organization and giving loans etc to needy people. So in that case we cannot say that banks will be replaced with the use of bitcoin.

[fikihafana]

Very likely, when all transactions can be done by yourself without any bank will certainly make the banks deserted and slowly can close the business. I'm sure if everyone using bitcoin, then the bank will close automatically but no time soon, because the user has not been much bitcoin.

I think the purpose and duty of banks is not to regulate the transactions only but their main works are many more like facilitating the financial affairs of government and other organization and giving loans etc to needy people. So in that case we cannot say that banks will be replaced with the use of bitcoin.

Yeah i agree with you, maybe he doesn't know why bank still active until next hundred years. There are some reason why bank can not disappear, one of the reason is person identification/verification/authentication.

Everyone here only can speak privacy is better, anonymous is good, and bla..bla..bla.. If you get scam 5 BTC by someone, did you happy?? how you will track the scammer?? In this case if you used bank not BTC, you can track scammer easyly. You can said anonymous is very good no matter what happen because you never got scam in huge BTC.

Anonymous in positive act is good, not in negative act. Cmon man, dont have short minded

[Gloiri]

Maybe yes because bitcoin is increasing rapidly. people are using them and saving their money on wallet. banks are risky due to robbers but we can save bitcoins on our hands

[diegz]

Maybe yes because bitcoin is increasing rapidly. people are using them and saving their money on wallet. banks are risky due to robbers but we can save bitcoins on our hands

Price alone is not enough to take down banks. We need a bigger reason for bitcoin to make banks disappear. IMO, if bitcoin, has a physical structure/offices which can shoulder and compete with what banks are doing, that's the only time banks might start to close one by one, provided that bitcoin offices is legally permitted to operate like a bank. 

[PhilPrime]

Maybe yes because bitcoin is increasing rapidly. people are using them and saving their money on wallet. banks are risky due to robbers but we can save bitcoins on our hands

Price alone is not enough to take down banks. We need a bigger reason for bitcoin to make banks disappear. IMO, if bitcoin, has a physical structure/offices which can shoulder and compete with what banks are doing, that's the only time banks might start to close one by one, provided that bitcoin offices is legally permitted to operate like a bank. 

Exactly, it's quite impossible that bitcoin banks will disappear,  there might some changes in some banks accepting and using bitcoin transactions. But it will not replace the fact that it will always be the same bank that people uses for their money.

[Japinat]

Maybe yes because bitcoin is increasing rapidly. people are using them and saving their money on wallet. banks are risky due to robbers but we can save bitcoins on our hands

Price alone is not enough to take down banks. We need a bigger reason for bitcoin to make banks disappear. IMO, if bitcoin, has a physical structure/offices which can shoulder and compete with what banks are doing, that's the only time banks might start to close one by one, provided that bitcoin offices is legally permitted to operate like a bank. 

Exactly, it's quite impossible that bitcoin banks will disappear,  there might some changes in some banks accepting and using bitcoin transactions. But it will not replace the fact that it will always be the same bank that people uses for their money.

It's not bitcoin bank what we are talking here, we are referring to a usual bank that caters fiat deposits. Bitcoin is not yet regulated but we can do banking with it. The fact that we can do banking without a bank, that makes a threat for the legal banks to be replace but that threat is not that big and they do not consider that possibilities.

[8Habits]

Maybe yes because bitcoin is increasing rapidly. people are using them and saving their money on wallet. banks are risky due to robbers but we can save bitcoins on our hands

Price alone is not enough to take down banks. We need a bigger reason for bitcoin to make banks disappear. IMO, if bitcoin, has a physical structure/offices which can shoulder and compete with what banks are doing, that's the only time banks might start to close one by one, provided that bitcoin offices is legally permitted to operate like a bank. 

Exactly, it's quite impossible that bitcoin banks will disappear,  there might some changes in some banks accepting and using bitcoin transactions. But it will not replace the fact that it will always be the same bank that people uses for their money.

It's not bitcoin bank what we are talking here, we are referring to a usual bank that caters fiat deposits. Bitcoin is not yet regulated but we can do banking with it. The fact that we can do banking without a bank, that makes a threat for the legal banks to be replace but that threat is not that big and they do not consider that possibilities.

Agree! the OP's reference to bank is the bank for fiat and not for bitcoins - I believe we are not even calling it a bank of bitcoin but a bitcoin wallet.

[Gloiri]

Maybe yes because bitcoin is increasing rapidly. people are using them and saving their money on wallet. banks are risky due to robbers but we can save bitcoins on our hands

Price alone is not enough to take down banks. We need a bigger reason for bitcoin to make banks disappear. IMO, if bitcoin, has a physical structure/offices which can shoulder and compete with what banks are doing, that's the only time banks might start to close one by one, provided that bitcoin offices is legally permitted to operate like a bank. 

i am agree with you just thinking about bitcoins future. they're growing as you know so in future maybe we found out a big reason.