Can Bitcoin make Banks disappear?

[Xenophoto]

I don't think so, banks are a very important part of the economical system right now, not just holding money but the act of receiving, lending, getting money+ Profit and giving the capital and part of the profit to the person.. The most important part of the cycle are the merchants getting loaned since this is the base for everything from real-estate construction, even to large companies.

If that's the sole reason why bitcoin cannot make banks disappear, then I think it's absurd since bitcoin can do all of that. It can be a huge part of the economical system too. Holding money? Sure. Receiving, sending, lending, getting profit? All of that can be done with bitcoins. And bitcoin is much more than that, that's why cryptocurrencies tend to succeed in the future.

Loans? Oh, that's easy too. Thinking that the other person might just run away? Don't worry. If we follow the same procedure (i.e. getting personal info of the borrower) and have a valid collateral, then no problem at all.

[DarkIT]

Maybe it's impossible, but I think bitcoin can make a lot of people look for it and make people forget the bank as the main storage. Well, in bitcoin, maybe you can save the money you have, and also can serve as an investment tool simultaneously.

[Kasabus]

Maybe it's impossible, but I think bitcoin can make a lot of people look for it and make people forget the bank as the main storage. Well, in bitcoin, maybe you can save the money you have, and also can serve as an investment tool simultaneously.

My focus now is to save bitcoin, I don't mind what people will think about how powerful bitcoin for them, I will remain
realistic and still believe that we are under the present rules of the government, we need their support.

[nethan1btc]

Maybe it's impossible, but I think bitcoin can make a lot of people look for it and make people forget the bank as the main storage. Well, in bitcoin, maybe you can save the money you have, and also can serve as an investment tool simultaneously.

My focus now is to save bitcoin, I don't mind what people will think about how powerful bitcoin for them, I will remain
realistic and still believe that we are under the present rules of the government, we need their support.

Saving bitcoin is a wise choice and I appreciate that idea because bitcoin power nowadays will certainly influencing a lot of people, not just western culture but mostly in asian race. Banks were so important if it comes to money  particularly on what you have saved on your account, and through bitcoin that money you have in the bank will grow eventually from bitcoin as your sources of digital wealth. There's no reason to make banks disappear specially these days of bitcoin progress of price break through on the marketplace price value.

[arbitrag3]

I don't think banks will ever disappear because rather than just putting your money under a bed, you get interest keeping it in the bank, so to put their money into someone's hands under a contract with interest is profitable for both parties, so they manage their money for them so if they screw up they can have someone to blame to but them.

[Blackwhite69]

I don't think banks will ever disappear because rather than just putting your money under a bed, you get interest keeping it in the bank, so to put their money into someone's hands under a contract with interest is profitable for both parties, so they manage their money for them so if they screw up they can have someone to blame to but them.

I disagree with you because In the presence of bitcoin can multiply finances.... 

[lukmandog]

Bitcoin will not make bank disappear, but bitcoin will be an example for banks in terms of technology. Banks in world will apply the best technology, to easily serve public finances and run government programs.

[MCS23]

I don't think banks will ever disappear because rather than just putting your money under a bed, you get interest keeping it in the bank, so to put their money into someone's hands under a contract with interest is profitable for both parties, so they manage their money for them so if they screw up they can have someone to blame to but them.

I disagree with you because In the presence of bitcoin can multiply finances.... 

I understand all the aspirations and hopes and every user also of every person on Earth that banks can fail and all will be the merit of Bitcoin. But still no one said how this will happen and it's not that the banks are strong. But the fact is that Bitcoin is also the same currency that banks are dealing with.

[lisa255]

I don't think banks will ever disappear because rather than just putting your money under a bed, you get interest keeping it in the bank, so to put their money into someone's hands under a contract with interest is profitable for both parties, so they manage their money for them so if they screw up they can have someone to blame to but them.

I disagree with you because In the presence of bitcoin can multiply finances.... 

To invest your money in bitcoin is much more vigilant than putting them in the bank at interest. Banks do not give you much to earn on this. Their calculation is very accurate.
The bitcoin on the contrary will help you get rich.
Banks should disappear

[voltesbit777]

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 don't think that bitcoin can make bank disappear, though for now none bank in the entire world are not accepting bitcoin yet.
But once bitcoin become a world currency whether they like or not they will accept it soon.

[batang_bitcoin]

Bitcoin will not make bank disappear, but bitcoin will be an example for banks in terms of technology. Banks in world will apply the best technology, to easily serve public finances and run government programs.

Yes it will never make the bank disappear because banks are stronger with foundation and with the support of the government. But the block chain technology can be adopted by the bank if they wish so. And there are a lot of people that mostly treating the bank just for safe keeping but in bitcoin, you can choose a lot of wallet(bank) for your own.

[Bodywowoya]

Bitcoin will not make bank disappear, but bitcoin will be an example for banks in terms of technology. Banks in world will apply the best technology, to easily serve public finances and run government programs.

Yes it will never make the bank disappear because banks are stronger with foundation and with the support of the government. But the block chain technology can be adopted by the bank if they wish so. And there are a lot of people that mostly treating the bank just for safe keeping but in bitcoin, you can choose a lot of wallet(bank) for your own.

Is there really a big danger to yourself to save your Bitcoin, rather than keep them in the bank? Maybe there can be really good reasons for children to create Bitcoin Bank for storing crypto currency, but it seems to me that this bank can take over all the functions of simple real banks with which we will be difficult to cope with simple users.

[iron talon]

Bitcoin can't remove banks from the earth because capitalist powers never let bitcoin do this. What bitcoin can make is refucing the effect of banks in the future.

[tabas]

Bitcoin can't remove banks from the earth because capitalist powers never let bitcoin do this. What bitcoin can make is refucing the effect of banks in the future.

As well as oligarchs that are earning well with their banks. Since the government is taxing them by millions of dollars they will not going to allow it to happen. If people are starting to convert their wealth to bitcoins and withdrawing all of their funds to the banks, it will be the start of their low income and probably they will protest to the government.

[Gameroid]

Bitcoin can't remove banks from the earth because capitalist powers never let bitcoin do this. What bitcoin can make is refucing the effect of banks in the future.

i think it is possible, but not easy. for example we assume that all the people of the world has start using bitcoin. as withdrawal and depositing bitcoin is more easy than withdrawal and depositing of really money. so i am sure that then all the people of the world will give preference to bitcoin and therefore to me it is possible that bitcoin will disappear banks.

[BlokF4No27]

Bitcoin can't remove banks from the earth because capitalist powers never let bitcoin do this. What bitcoin can make is refucing the effect of banks in the future.

During the bank get the full guarantee from the Government the bank would never disappear, even though a transaction bitcoin larger than the bank but will not be able to make bank disappear.

[Viscore]

Bitcoin can't remove banks from the earth because capitalist powers never let bitcoin do this. What bitcoin can make is refucing the effect of banks in the future.

During the bank get the full guarantee from the Government the bank would never disappear, even though a transaction bitcoin larger than the bank but will not be able to make bank disappear.

It will not come to the point that transactions of bitcoin is bigger than banks, the system of bitcoin is quite slow as of the moment
while bank are continuously upgrading theirs, and besides we cannot compete those that are run by the government.

[farharhadi]

Why not when that happens then blockchain there is its rival, but I do not know whether bitcoin eliminates banks.

[DoublerHunter]

Why not when that happens then blockchain there is its rival, but I do not know whether bitcoin eliminates banks.

Bitcoin will not have a chance to eliminate the banks because banks got too much power and if bitcoin will try to eliminate banks then they will need a lot of power and support because banks already got government and a lot of agencies so the possibility for banks to be eliminated will be down to 0% so we will just see bitcoin and bank at the same time.

[bajing]

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 don't think that bitcoin can make bank disappear, though for now none bank in the entire world are not accepting bitcoin yet.
But once bitcoin become a world currency whether they like or not they will accept it soon.

Perhaps, disappear entirely will not. but if bitcoin is already accept as currency by all countries. I'm sure many people are starting to withdraw their money from bank and invest in bitcoin because they can get profit when the price increased.