Can Bitcoin make Banks disappear?

[Dontme]

No! Bitcoin will never have a power to do that. Yes people may like bitcoin but they will prefer to save money in the bank. Bitcoin will stay or cryptocurrency will stay but they will never make bank disappear.

[Blamsud]

No! Bitcoin will never have a power to do that. Yes people may like bitcoin but they will prefer to save money in the bank. Bitcoin will stay or cryptocurrency will stay but they will never make bank disappear.

its hard to make bank disappears but it can lessen bank users since some mighy btc more beneficial.

[Xenophoto]

My take on this is NO and actually with the connections of Banks to politicians, Banks can lobby to make Bitcoins illegal and disappear. In my Country, if big Bank is threatened by a new Bank with its promotions and if they feel a new Bank is a threat and can get more clients, big Banks will try to buy them out or worse create a negative news to bring them down. This can happen to Bitcoins too.

Another example of this is Facebook buying Whatsapp. Whatsapp is getting more and more recognition and Facebook decided to just buy them out. While this is actually existing in real life, that doesn't mean that it will happen with bitcoins. How can you buy out bitcoins? Buying all the bitcoins in exchanges will pump the price of bitcoin. That will make bitcoin holders rejoice and make bitcoin stronger as ever as it finally have a solid foundation. Surely the banks will not just dump it all for a lower price.

And for spreading negative news, bitcoin is used to that. Everyone is aware of all those drug activities that happened on Silk Road and might still even happening somewhere in the dark web. Perhaps this bad reputation of bitcoin has a silver lining after all.

[killed]

I do not think bitcoin will make the bank disappear. Banks have many differences with bitcoin. The bank is present to protect the ownership of the customer's cash at any given time and lend to those in need.

[Eclipse26]

im sure it can...but it will take a long time to make bank dissapear...
but make sure that all people know what is btc...in my country just a less people know bitcoin...

I dont think so that bank will be disappear because it is strongly build. I can say that bitcion will defeat bank but it can never disappear it. Bank will stay even bitcoin is much popular. There are still people who will choose bank that bitcoin especially for those who didn't understand what bitcoin is.

[nuela]

If bitcoin can eliminate the banks I'm sure it is, it only takes a while to clear the banks. And everyone will know what the BTC is, I am just concerned that my country knows very little about bitcoin.

[Yaupgitda]

If bitcoin can eliminate the banks I'm sure it is, it only takes a while to clear the banks. And everyone will know what the BTC is, I am just concerned that my country knows very little about bitcoin.

I think the bitcoin can let the banks make more profit as the cost of running bitcoin based system is lower.

[eann014]

I don't think that Bitcoin can make bank disappear at all. Because right now there are a lot of Banks that are already trusted and also usable to those who have their own company. Because Banks can also do other things than just saving money.

I agree. Bitcoin can not destroy the banks. He can only infiltrate the banking system as an alternative currency.

Yeah this is too impossible to happen at all because banks are not just by helping people saving money but also people can loan in banks, they can also have insurance, car loan or housing loan. Banks has a lot of great things they can do than bitcoin. Some other Banks has already their online banking which people can also use it easily like bitcoin. So Bank is really good that is impossible to disappear.

[Fatanut]

I don't think that Bitcoin can make bank disappear at all. Because right now there are a lot of Banks that are already trusted and also usable to those who have their own company. Because Banks can also do other things than just saving money.

I agree. Bitcoin can not destroy the banks. He can only infiltrate the banking system as an alternative currency.

Yeah this is too impossible to happen at all because banks are not just by helping people saving money but also people can loan in banks, they can also have insurance, car loan or housing loan. Banks has a lot of great things they can do than bitcoin. Some other Banks has already their online banking which people can also use it easily like bitcoin. So Bank is really good that is impossible to disappear.

So what exactly is your point? Somebody can do this in bitcoins as well. You can get a loan and follow the same procedure with bank loans. In bank loans, you need a collateral or a good business plan. Along with these, you also have to submit your whereabouts. There can also be a trusted company that offers bitcoin loan to people. Insurance, car loans, housing loans, all of them can be in bitcoin form.

Bitcoin is much more than a currency. Bitcoin can perform all of the things a bank can (or perform even better to some extent). Online banking? Bitcoin got that.

[Reid]

I don't think that Bitcoin can make bank disappear at all. Because right now there are a lot of Banks that are already trusted and also usable to those who have their own company. Because Banks can also do other things than just saving money.

I agree. Bitcoin can not destroy the banks. He can only infiltrate the banking system as an alternative currency.

Yeah this is too impossible to happen at all because banks are not just by helping people saving money but also people can loan in banks, they can also have insurance, car loan or housing loan. Banks has a lot of great things they can do than bitcoin. Some other Banks has already their online banking which people can also use it easily like bitcoin. So Bank is really good that is impossible to disappear.

Yeah they will do that but because there is a purpose for that also.
Income will come to them by those services that is why they are forcing this to other people.
One more problem is we dont even have another choice. They are like the hands of the government to serve people which is actually better for them. This became traditional for people and we cant take it out from the system.

[MRlong]

I don't think that Bitcoin can make bank disappear at all. Because right now there are a lot of Banks that are already trusted and also usable to those who have their own company. Because Banks can also do other things than just saving money.

I agree. Bitcoin can not destroy the banks. He can only infiltrate the banking system as an alternative currency.

Yeah this is too impossible to happen at all because banks are not just by helping people saving money but also people can loan in banks, they can also have insurance, car loan or housing loan. Banks has a lot of great things they can do than bitcoin. Some other Banks has already their online banking which people can also use it easily like bitcoin. So Bank is really good that is impossible to disappear.

Yeah they will do that but because there is a purpose for that also.
Income will come to them by those services that is why they are forcing this to other people.
One more problem is we dont even have another choice. They are like the hands of the government to serve people which is actually better for them. This became traditional for people and we cant take it out from the system.

Bitcoin cannot destroy the banks, if when it can do that, I think Bitcoin in that time is a currencies important and can not replace, but it's the imagination in future, it can not happen

[Kisanaq]

I think anything could happen, depending on market conditions, when there is no bank customer and everyone switched to the bitcoin and then bank will disappear soon.

[8Habits]

I think anything could happen, depending on market conditions, when there is no bank customer and everyone switched to the bitcoin and then bank will disappear soon.

For certain, it will not be sooner mate because banks have already established in our regulated financial institution. Government can easily trackdown financial transactions in fiat money versus bitcoin.

[_Legendary_]

The use of the bitcoin only reduces the value of the transaction to the banks but the banks could not make disappear, the banks already hundreds of years and proved to be a part of human life.

[rikybrosh]

The use of the bitcoin only reduces the value of the transaction to the banks but the banks could not make disappear, the banks already hundreds of years and proved to be a part of human life.

Yes you right, there Some banks that lose transaction from fintech industries because bitcoin is being new choice that more practical and has lower fee.

[batang_bitcoin]

I think anything could happen, depending on market conditions, when there is no bank customer and everyone switched to the bitcoin and then bank will disappear soon.

Anything could happen but I doubt that it will happen with bitcoin. As we know banks are powerful and they are with the government. This type of scenario is not going to let happen by the superiors because big income tax will be slashed to the annual tax income of the government because of bitcoin.

[mrfreezeh]

I think anything could happen, depending on market conditions, when there is no bank customer and everyone switched to the bitcoin and then bank will disappear soon.

Anything could happen but I doubt that it will happen with bitcoin. As we know banks are powerful and they are with the government. This type of scenario is not going to let happen by the superiors because big income tax will be slashed to the annual tax income of the government because of bitcoin.

In future, if all people in the World use Bitcoin (or an Altcoin) as a currencies important and cannot replace it, this can happen, but I not think it can do that easy, because Cryptocurrencies very hard managent and cannot tax fee, it not easy like as banks

[Japinat]

I think anything could happen, depending on market conditions, when there is no bank customer and everyone switched to the bitcoin and then bank will disappear soon.

Anything could happen but I doubt that it will happen with bitcoin. As we know banks are powerful and they are with the government. This type of scenario is not going to let happen by the superiors because big income tax will be slashed to the annual tax income of the government because of bitcoin.

If we really think of the realistic thing that will happen I believe you will not come up with that imagination, bitcoin is never superior as real money because it is only funded with fiat to make it worthy. With the government in control in this world, bank is the major financial institution for them and I don't think they will let that replace by anything not under their control.

[radamiel]

It is impossible for bitcoin to disappear the bank, the bank is one of the important instruments in the economy, the bank is where we keep the money and they will distribute or rotate the money so that the economic flow will continue to run. But maybe someday the bank will receive bitcoin as one means of payment

[rikybrosh]

The use of the bitcoin only reduces the value of the transaction to the banks but the banks could not make disappear, the banks already hundreds of years and proved to be a part of human life.

Yes you right, I think bitcoin will take the most part of fintech industries transactions. But banks will not dissapear because l bank can make economy of the country more stable.