Can Bitcoin make Banks disappear?

[hawkins]

bitcoin is currently not big enough and reliable for all communities. bitcoin might be able to compete with the bank, but I think bitcoin will not be able to make the banks disappear, because the bank is something big, and reliable is needed by the community.

[xSkylarx]

Bitcoin will naver make banks disappear, that is just insane.

true the reason is very simple bitcoin will not be able to beat fiat because fiat is the main currency in each country and fiat will require banks

It's a possibility actually but for now the chances for bitcoin to make banks disappear is very low or in other words it is still impossible. For it to be possible, Bitcoin should spread its influence deeper and deeper so that it will increase the number of people who patronize (consumers or anything they call it) it from the way they spend money up to their culture for the paper money they have used up to today roots deeply to their culture and reflects the authority of the government to the rest of its jurisdiction.

I find some Bitcoin coin this day on internet which took to a progress , no one knows who is the real owner of bitcoin and the owner is just hiding on its alias name Satoshi nakamoto, so with the power of people they can make it happened because there are no owner (right now) that can claim and stop people to change it to fiat which will be more better.

[puremage111]

No but it will get appreciate compare to real fiat currency due to countries start to legalizing the existence of bitcoin :*

[stompix]

Banks are not related to fiat. Banks use fiat money because this is the most used current currency .
Banks have used in the past gold and silver so they could easily revert or go to the next step which might be bitcoin.

But banks will be there even after bitcoin either is a success or is a failure.

And bank scams and bank failures will happen even if they will deal with bitcoins.
We have so many examples in the past with bitcoin heists ....

[triasel]

It seems that experts say that Bitcoin 'Here to Stay,' But Banks Could Disappear.


"TheStreet: How do you think FinTech will impact the way banks operate?

Frank Schwab: Banks either react on, or they will disappear. Anyway, the consolidation of the banking industry accelerates as the behaviour of people changes. Some banks will benefit from [FinTech], some will be pushed to the back end, and some will disappear."
http://www.thestreet.com/story/13419089/1/bitcoin-here-to-stay-but-banks-could-disappear-says-fintech-expert.html

What's your read on that?

i feel can not , but many person in round not know about bitcoin .. very imposible that bitcoin can make bank dissappear 

[lemonade09]

I gonna answer yes times go on the bitcoins is becoming so popular so i will not ne shock if it will be ise many many people and use it as the main money for paying things so when many people use bitcoins as they main wallet maybe the bank will be bankrupt and somehow loss costumer 🏦🏦🏦🏦🏦💰💰 but bitcoin can make banks disappesr but it does mean that it can it will.

[FiiNALiZE]

 

Banks can't make bitcoins disappear since it doesn't depend on them at all, there is no way to stop bitcoin unless the price drops.

I think you've misunderstood the content, please make a recheck. Banks are the primary economy and financial service providers. In every nation Banks might have played a big role in Country's growth. So it's not that easy or an possible thing to make banks get replaced by bitcoin.

Well, he might be explaining from another view. Bitcoin being accepted by Banks would be one thing though the price of Bitcoin is also a major factor.
So if one day all Banks accepted Bitcoin and dropped fiat then the whole Banking system would rely on Bitcoin only. When the price of Bitcoin goes down to zero dollars or just 0 then the all Banks will collapse within 24 hours.
It all depends on how well Banks diversify their money.

[Xandan]

I don't think so that bitcoin can ever be in this position to be able to make the banks disappear. Bitcoin is like gold which is precious and have its usage within its limits as parallel way of payment processor or method to send and receive money with minimal efforts. Bitcoin will keep working in coexistence with banks.

[PancherBitCoin]

I don't think so that bitcoin can ever be in this position to be able to make the banks disappear. Bitcoin is like gold which is precious and have its usage within its limits as parallel way of payment processor or method to send and receive money with minimal efforts. Bitcoin will keep working in coexistence with banks.

I fully agree with your statements. But I would also say that bitcoin will not be able to influence the banking system at all, especially after banks took on testing and successful implementation of blockchain technology. But cooperation bitcoins and banks will serve to the loss of the users' position in the anonymity of their savings.

[Rinder]

If banks join crypto world, we will have a huge problem, because banks like power and control, soo they will manipulate crypto. I hope they stay away since bitcoin isnt really a big problem to them, since they keep with their services of savings and lendings, something that at bitcoin is just possible the savings, because lendings is a high risk attempt, and even with some people lending here is for reputable members or with proper colateral.

[bitbob82]

bitcoin is currently not big enough and reliable for all communities. bitcoin might be able to compete with the bank, but I think bitcoin will not be able to make the banks disappear, because the bank is something big, and reliable is needed by the community.

but we have to accept the reality that bitcoin is becoming popular day by day and very soon  when all the users of the world will start using bitcoin then banks will disappear  automatically.

[mornabo]

If anyone says banks disappear because of the bitcoin, then emphatically I say it was impossible, that could make the banks disappear is the government policy not another.

its true. as a bank under the control of the government during the government banned the bitcoin bank will continue to live and bitcoin would not be able to beat the banks especially government

[ipungadhi]

bitcoin is currently not big enough and reliable for all communities. bitcoin might be able to compete with the bank, but I think bitcoin will not be able to make the banks disappear, because the bank is something big, and reliable is needed by the community.

but we have to accept the reality that bitcoin is becoming popular day by day and very soon  when all the users of the world will start using bitcoin then banks will disappear  automatically.

Lol I laughed at this, I also believe that bitcoin will be more popular but it will not make banks die or disappear. see the importance of banks for fiat and the government itself. central bank set the state finances

[mirakal]

bitcoin is currently not big enough and reliable for all communities. bitcoin might be able to compete with the bank, but I think bitcoin will not be able to make the banks disappear, because the bank is something big, and reliable is needed by the community.

but we have to accept the reality that bitcoin is becoming popular day by day and very soon  when all the users of the world will start using bitcoin then banks will disappear  automatically.

Lol I laughed at this, I also believe that bitcoin will be more popular but it will not make banks die or disappear. see the importance of banks for fiat and the government itself. central bank set the state finances

It will never happen because we do not have the power to do it, our government will manipulate everything in order to main in the power. Believe it or not, this world is not safe as we expected, we are being spied everywhere we go and only this who decentralized thing makes me convince that we can have freedom for the first time, but it's not possible to be fully adopted due to some government restrictions.

[Rostadom]

If banks join crypto world, we will have a huge problem, because banks like power and control, soo they will manipulate crypto. I hope they stay away since bitcoin isnt really a big problem to them, since they keep with their services of savings and lendings, something that at bitcoin is just possible the savings, because lendings is a high risk attempt, and even with some people lending here is for reputable members or with proper colateral.

I don't know how can the banks control bitcoins when it's unregulated and decentralized. Either they stay away or not, bitcoin will be safe from them as they cannot control it. They cannot blackmail or bribe someone since no one's in charge. They cannot pay the founder of bitcoin because there isn't any.

Bitcoin isn't a problem to them but when the number of bitcoin users blows up, it will start becoming their problem. They cannot tax the sales going on in the bitcoin world and when people start doing business online instead of offline (fiat), it will be a problem to them since they will collect lesser and lesser tax.

[posternat]

I think bitcoin can't make bank disappear because banks are still more useful than bitcoin and banks are run by the goverment and the government are more powerful than the people who runs bitcoin. But if no one are still using the bank there's a big chance that bitcoin can make the bank disappear.

You are first person who said this answer very clear and i am certain with you. Because i also think like you, bitcoin can't disappear the bank. Because all banks work under the government and government is more powerful than bitcoin's users.

[dianikusuma]

i think can because bitcoin more easier than bank , can transfer money without we'll go to the bank .. save our money in wallet this is very easy

[kikeda]

i think can because bitcoin more easier than bank , can transfer money without we'll go to the bank .. save our money in wallet this is very easy

Its really easy to save money in bitcoin wallet and also to send or receive money with bitcoins but the fact is it cannot replace banks as banks holds maximum number of users and banks have support from the society and government so banks will always survive.

[lighpulsar07]

No, bitcoin can't disappear banks because banks is more useful than bitcoin for example in online purchases banks can process the transaction fast with low fee unlike bitcoin you have to pay the high miner fee in order to prioritize your transaction and wait for a block to confirm your transaction.
Also the government is controlling the banks, they have support from the government and the society. In my own opinion

[RedX]

No because it will lead to a world major crisis. Banks are very important because they are supporting thousands of jobs around the world and especially the government. Banks and Bitcoin can exist at the same time and I don't see any problem on that.