Can Bitcoin make Banks disappear?

[DoublerHunter]

Bankers may disappear and the banks,but the world banking will never ever disappear.Bitcoins has no match in banks in this days and even in the future.Banks are runned by government.There are still lot of things bitcoins must have pass to make banks disappear.Or bitcoins and banks may work together

if that possible maybe its much better if banks will embrace the idea of bitcoin so the fee for their system would be lesser, if all people all around the globe will agree with this system(bitcoin) its very helpful with fast and lesser cost just needed to be more secured.

Some banks already did. The banks in Japan and the biggest bank in the Philippines, Central bank of the Philippines is now accepting bitcoin as a payment on every transaction that their costumers will going to make, and this is the great start of bitcoin, and there is a possibility that all the banks all around the world will accept it.

And all the people all around the world will use it, and it will become a currency that we are all dreaming.

I agree with you. Most of the biggest banks in selected asian countries are accepting bitcoin as another type of payments to their business and there is no doubt that if bitcoin will even further on its good developments then it will be accepted by other foreign banks in the world. Let just hope for the best and keep supporting bitcoin until bitcoin pays off and make us rich .

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[Zooplus]

Bankers may disappear and the banks,but the world banking will never ever disappear.Bitcoins has no match in banks in this days and even in the future.Banks are runned by government.There are still lot of things bitcoins must have pass to make banks disappear.Or bitcoins and banks may work together

if that possible maybe its much better if banks will embrace the idea of bitcoin so the fee for their system would be lesser, if all people all around the globe will agree with this system(bitcoin) its very helpful with fast and lesser cost just needed to be more secured.

Some banks already did. The banks in Japan and the biggest bank in the Philippines, Central bank of the Philippines is now accepting bitcoin as a payment on every transaction that their costumers will going to make, and this is the great start of bitcoin, and there is a possibility that all the banks all around the world will accept it.

And all the people all around the world will use it, and it will become a currency that we are all dreaming.

You might wanna share where did you get that information about the Philippine banking industry are accepting bitcoin already.
I'm from the Philippines and I haven't heard of that news, what I know is that the central bank identify bitcoin as a payment system and not a currency.

[AFDcoinDev]

No banks will not disappear as long as nations have their own currencies. People will still need to pay taxes in fiat currency and the banks will facilitate the entire process.

Bitcoin already acts as a bank in a way with the wallets being the bank accounts, but because of its ability to drop in VALUE by more than a few percentage points a year people are unable to store money long term.

it is pretty stable in relative terms (compared to other cryptos for example), but its market cap is 10s of billions, which pales in comparison to the larger forex fiat markets.

In other words, bitcoins market cap and volume must grow 100-1000x before it will be able to absorb the largest sell or buy orders without dropping substantially in value.

[Hanako]

I don't think that "Bitcoin" can make banks disappear. Because im my country we need bank just to withdraw are bitcoin. So how can bitcoin disappear banks. Obvoiusly i think it will be good if there's now an Bitcoin ATM machines in my country it will be good to all bitcoiners in my country.

[n2004al]

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?

At the part cited from you is told "some" will benefit" and "some will dispensary" and not that "the banks (all) will disappear". The aim of the bank is to offer credits and always will be need from the people or institutions to have credits. Maybe bitcoin will be part of the banks and for sure blockchain. But have no reason that the bank as a institution or business can disappear.

[Pangia]

I don't think that "Bitcoin" can make banks disappear. Because im my country we need bank just to withdraw are bitcoin. So how can bitcoin disappear banks. Obvoiusly i think it will be good if there's now an Bitcoin ATM machines in my country it will be good to all bitcoiners in my country.

Even if you don't  have bitcoin ATM machine you don't have to worry if you have facility to use bitcoin debit card as it will make things very much easier as I am using bitcoin debit card in my country without any issues I can withdraw money from any ATM and at the same time can use it to buy anything from shopping malls, restaurants etc.

[paul gatt]

I don't think that "Bitcoin" can make banks disappear. Because im my country we need bank just to withdraw are bitcoin. So how can bitcoin disappear banks. Obvoiusly i think it will be good if there's now an Bitcoin ATM machines in my country it will be good to all bitcoiners in my country.

Even if you don't  have bitcoin ATM machine you don't have to worry if you have facility to use bitcoin debit card as it will make things very much easier as I am using bitcoin debit card in my country without any issues I can withdraw money from any ATM and at the same time can use it to buy anything from shopping malls, restaurants etc.

I myself do not like to use a debit card, I like freedom, I want to do everything and do not have any trouble, debit card requires us to make payment for all their spending. For bitcoin, we do everything we want, you own bitcoin, and you can change it to whatever currency we want, it's easy and convenient.

[CoinThinker]

I don't think that "Bitcoin" can make banks disappear. Because im my country we need bank just to withdraw are bitcoin. So how can bitcoin disappear banks. Obvoiusly i think it will be good if there's now an Bitcoin ATM machines in my country it will be good to all bitcoiners in my country.

Even if you don't  have bitcoin ATM machine you don't have to worry if you have facility to use bitcoin debit card as it will make things very much easier as I am using bitcoin debit card in my country without any issues I can withdraw money from any ATM and at the same time can use it to buy anything from shopping malls, restaurants etc.

I myself do not like to use a debit card, I like freedom, I want to do everything and do not have any trouble, debit card requires us to make payment for all their spending. For bitcoin, we do everything we want, you own bitcoin, and you can change it to whatever currency we want, it's easy and convenient.

So you mean to say that you don't get freedom with bitcoin debit card? Bro you can buy even gold with bitcoin debit card and your name will not be displayed anywhere on the paper and people are making best use of it by buying all the possible things with bitcoin debit card.

[JANGKRIK BOSS]

I have to say it is quite possible, if the bitcoin on legal by the government then the bank transaction will drop, everyone will switch to bitcoin because proven better than other payment systems including banks.

[stephanirain]

I have to say it is quite possible, if the bitcoin on legal by the government then the bank transaction will drop, everyone will switch to bitcoin because proven better than other payment systems including banks.

Certainly, it won't happen since bitcoin can be only be used for online transaction which means if it would replace banks, not all poeple can adppt it since internet connection isn't available to all place in which is bitcoin replace banks, those people who  doesn't have internetconnection would not be able to withdraw their money.

[BeGoods]

I don't think that "Bitcoin" can make banks disappear. Because im my country we need bank just to withdraw are bitcoin. So how can bitcoin disappear banks. Obvoiusly i think it will be good if there's now an Bitcoin ATM machines in my country it will be good to all bitcoiners in my country.

although bitcoin will be a stand alone though, although you can use bitcoin directly to spending that would not make banks disappear, because banks are important for the country's financial order also

[dadaas]

I don't think that "Bitcoin" can make banks disappear. Because im my country we need bank just to withdraw are bitcoin. So how can bitcoin disappear banks. Obvoiusly i think it will be good if there's now an Bitcoin ATM machines in my country it will be good to all bitcoiners in my country.

although bitcoin will be a stand alone though, although you can use bitcoin directly to spending that would not make banks disappear, because banks are important for the country's financial order also

That's right banks are more important for the country and also for the citizens as most of their daily transactions are dependent on banks and they don't find any other better option to save their money other then banks so banks will always survive in future.

[marketone]

I don't think that "Bitcoin" can make banks disappear. Because im my country we need bank just to withdraw are bitcoin. So how can bitcoin disappear banks. Obvoiusly i think it will be good if there's now an Bitcoin ATM machines in my country it will be good to all bitcoiners in my country.

Still, you need not worry about even if you don't have bitcoin atm machine because still, we have the option to convert from bitcoin fiat currency. But it is not possible for bitcoin to disappear banks because people also need paper currency to satisfy their need, so it is not possible to disappear banks.

[krisnt80]

No, bitcoin cant make banks disappear, bitcoin has amazing tools and does give freedom to all their costumers, even with the fees going up and being compared already with paypal. Banks does provide loans that we can use and repay over years, bitcoin loans arent safety since there is no way to force the taker to repay, at this forum people uses colateral altcoins and few some accounts to get repaid otherwise they would had lost all their bitcoins.

[Tribizz]

I don't think that Bitcoin can make banks disappear. Because in my country there are more to be educated about the internet let alone Bitcoin.
So am sure Banks won't disappear but Bitcoin is here to stay.

[zeze18]

I don't think that Bitcoin can make banks disappear. Because in my country there are more to be educated about the internet let alone Bitcoin.
So am sure Banks won't disappear but Bitcoin is here to stay.

I think function of banks still will not be replaced with bitcoin, but may have same function even if legality of bitcoin is still not official.

[g83]

I don't think that Bitcoin can make banks disappear. Because in my country there are more to be educated about the internet let alone Bitcoin.
So am sure Banks won't disappear but Bitcoin is here to stay.

Neither banks nor bitcoin will disappear in future as both are the long term players and banks has already proved its power since it exists since long time and it also has large number of users bitcoins is comparatively new but will gain more popularity and users as time passes by.

[Mr.grin]

I don't think that Bitcoin can make banks disappear. Because in my country there are more to be educated about the internet let alone Bitcoin.
So am sure Banks won't disappear but Bitcoin is here to stay.

Neither banks nor bitcoin will disappear in future as both are the long term players and banks has already proved its power since it exists since long time and it also has large number of users bitcoins is comparatively new but will gain more popularity and users as time passes by.

and bitcoin bank may only be a competitor. that is, either will not be easily replaced, because it has been reliable for years and provide benefits for its customers. while bitcoin is a new thing for the community. but, when the bitcoin has been popular, it's probably not going to make the bank disappears, but of course bitcoin will be a contender for the bank.

[Wesimon]

I have to say it is quite possible, if the bitcoin on legal by the government then the bank transaction will drop, everyone will switch to bitcoin because proven better than other payment systems including banks.

I would not say everyone will switch to bitcoin. People have their own perception when it comes to bitcoin. Others may say that bitcoin is good, some may say it's bad, or others will not care at all. And think about this, not all people uses the bank (that includes me) so how come that everyone will use bitcoin.

[daringdiscovered]

I don't think that Bitcoin can make banks disappear. Because in my country there are more to be educated about the internet let alone Bitcoin.
So am sure Banks won't disappear but Bitcoin is here to stay.

Actually it is possible that bitcoin could make the banks disappear, and Bitcoin Banks will be the one to replace it, but of course it would happen in the future and not now. If bitcoin would be declare as a currency which it could be accepted anywhere, anytime, in every places around the world, then this thing could really happen, well, I'm not that sure about it, it is just a thought since Japan already accepts bitcoin as a currency.