Can Bitcoin make Banks disappear?

[telatomi]

I hope of course that Bitcoin will be more popular and more used. But it will only reduce banks and not disappear. Many people need some normal banks too. And that is very important for them. we need banks and fiat in our daily lives to purchase physical goods, foods and anything in the store..If bitcoin  would be widely adopted around the world then there is a big chance that it will play major role in the economy,

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[Betwrong]

Banks are not going anywhere even if bitcoin gets on the mainstream there will be many people who will prefer to use banks and save their money in it as they feel that banks are the most safest place to save their money which is actually true.

This is true in more economically developed countries but there are many others where you can't rely on banks and in those countries Bitcoin is a better option. So Bitcoin will never make banks disappear if even in undeveloped countries situation will be changing for better, but if in countries like USA or Germany banks become unreliable then Bitcoin might replace them, at least to to an extent.

To an extent? Then bitcoin has already replaced the banks to a really small extend since we are using bitcoins. "To an extent" is such a weak argument in this context.

I still doubt that bitcoins will ever replace the banks. The government is very strict about their fiat currency getting obsolete. When their people are using a foreign currency more than their local currency, the government takes action right away since that will devaluate their fiat currency in addition to the inflation.

The opportunities that exists in the bitcoin world will really help individuals earn more money but the growth of the country in terms of research, technology, nursing, etc. will become slower.

Well, it wasn't an argument, more like an allegation. Do you think if it was put like "Bitcoin will fully replace banks" it would be a stronger argument?    I don't think so.

Bitcoin will never replace banks, not in our lifetime anyway, because there will always be some people who will prefer banks.

[Omega Weapon]

Banks are not going anywhere even if bitcoin gets on the mainstream there will be many people who will prefer to use banks and save their money in it as they feel that banks are the most safest place to save their money which is actually true.

Well, it will not change even in the future. Banks are trusted by the people and it gives insurance to your money so people
are not worried anymore. However, it does not give you a good interest than holding bitcoins alone, but it's a person's choice on what make him comfortable.

Banks are not a way to completely protect your money when there is an economic crisis the first things that happens is that governments steal the money in your bank accounts, bitcoin protect us from that since there is no way to take our money away from us.

[Duzter]

I hope of course that Bitcoin will be more popular and more used. But it will only reduce banks and not disappear. Many people need some normal banks too. And that is very important for them. we need banks and fiat in our daily lives to purchase physical goods, foods and anything in the store..If bitcoin  would be widely adopted around the world then there is a big chance that it will play major role in the economy,

Right now too it serves better in the economy of the countries that have adopted it. Same as quoted bitcoin reduce the people's dependence on banks for their financial needs when more adoption happens. This won't entirely make banks go out of service as banks are the primary operating firm of every financial system in a country.

[Sir Paijoe]

If the official State-approved bitcoin then I bet the bank will disappear. the problem is there hasn't been a country that officially approved the use of bitcoin so banks will continue to exist.

[Apened]

If the official State-approved bitcoin then I bet the bank will disappear. the problem is there hasn't been a country that officially approved the use of bitcoin so banks will continue to exist.

I think approving bitcoins is cant make the downfall of banks because there are many of old people who doesnt use or want to use bitcoins in banking so they will still use local banks .The effect of approving will make the banks customer decrease .

[fathur.aza]

Wau bitcoin has a rival that makes it disappear
 
is that possible?

[LeGaulois]

35% of US citizens are ok for a cashless society, 40% of transactions are done using a debt card. And the percentages keep growing. So it mean people are interested by the solutions given like cards, mobil wallet, ect. Bitcoin can also be a solution for a cashless society, so bank may adapt it in their solution, otherwise they can risk to lost a lot of transactions and so customers if they don't adapt their method to the new generation.

[mkmdoc]

As of now still, it was a dream that bitcoin can disappear banks, there are many aspects that come into consideration when bitcoin disappears banks. Now many people are showing interest towards bitcoin, but it is not impossible to disappear the banks.

[Theb]

I don't think so. Right now with its current trend rolling, I can only see that Banks would not even bother having Bitcoin on the sideline. Why? Because until now even though it is widely popular across the world you can't yet consider Bitcoin as a global currency in which not even 10% of the world's population is using it. Also even other people convert their Bitcoin via Bank Deposit. Banks are big companies in which they know how to adapt the changing world, banks not taking action to Bitcoin means that they don't recognize Bitcoin as a threat.

[paul gatt]

If the official State-approved bitcoin then I bet the bank will disappear. the problem is there hasn't been a country that officially approved the use of bitcoin so banks will continue to exist.

I think approving bitcoins is cant make the downfall of banks because there are many of old people who doesnt use or want to use bitcoins in banking so they will still use local banks .The effect of approving will make the banks customer decrease .

Bitcoin really can not crash the banks. However, the reason you give is not exactly correct. Because, although bitcoin grows strong, however, its value is always regulated by cash resources managed by banks. Thus, bitcoin is more dependent on banks than against banks.

[ezehy2014]

We still need the bank to convert bitcoin to fiat. There are still merchandize we cannot buy thru bitcoin, so we need to convert. Without the bank, this cannot happen.

Great thinking and that is correct. I do that also using those banks as a mean of exchanging my bitcoin in fiat.

Bitcoin is great but those banks also have a use in different countries that is why they are there. No need to make it disappear just join it.

it can still disappear, like change form
Because if i can virtually do everything i want in bitcoin then why would i need fiat?

[Baby Dragon]

Yes yes that why banks having a partnership in bitcoin , bitcoin is really a threat in a bank could make and low there demand when it comes in money why we will have a physical money if we have a digital currency that is more easy to use.

[Hobo66]

With the value of bitcoin and rate which bitcoin is excelling,
Yes bitcoin can make banks disappear, more people are getting involve with this virtual currency bitcoin.
I think bitcoin can give the banks a run for their money.

[8Habits]

With the value of bitcoin and rate which bitcoin is excelling,
Yes bitcoin can make banks disappear, more people are getting involve with this virtual currency bitcoin.
I think bitcoin can give the banks a run for their money.

You are just joking, right mate?
Of course, if it happens, not during this generation or the next few generations to come. We know for a fact that there are limits as to how many bitcoins are going to produce and once it is met, no more new bitcoins and we just utilize the existing ones.

[doomloop]

With the value of bitcoin and rate which bitcoin is excelling,
Yes bitcoin can make banks disappear, more people are getting involve with this virtual currency bitcoin.
I think bitcoin can give the banks a run for their money.

yes you are right that bitcoin is gaining more and more value and popularity but i don't think that bitcoin will make banks disappear because banks are for fiats and the popularity of fiats as compare to bitcoin is much greater and also if the bitcoin gain such popularity in future then i think banks will accept and use bitcoin also like the fiats.   

[Viscore]

With the value of bitcoin and rate which bitcoin is excelling,
Yes bitcoin can make banks disappear, more people are getting involve with this virtual currency bitcoin.
I think bitcoin can give the banks a run for their money.

You are just joking, right mate?
Of course, if it happens, not during this generation or the next few generations to come. We know for a fact that there are limits as to how many bitcoins are going to produce and once it is met, no more new bitcoins and we just utilize the existing ones.

He must be joking or he has no idea how big the banking industry is, with the combine coins in crypto currencies we cannot beat the banking industry so its's impossible to make bank disappear. Right now, we need to think positive but should remain realistic, bitcoin will grow but up to a certain limit and that limit does not allow to be more superior than banks.

[kusyai]

Yes banks and wallets are different, Banks hold paper currency while wallets hold internet currency.
But when bitcoins will become so mature that they overrule all the currency and paper currency which bank holds have very little or low value, only then bitcoins will replace the Banks.

[ciobanuionut1982]

good joke but never can do that

[stompix]

So right now if I want a loan I go to the bank.

If bitcoin somehow would manage to replace banks , to whom I go to take a loan?
The statue of Satoshi? I call the blockchain?

Banks have been around even when we had gold and silver coins, they will still be around with bitcoin also.