Can Bitcoin make Banks disappear?

[aryana42]

Banks still exist even though many people in the world know and use bitcoin in the future. Bitcoin still cann't to handle big things in financial affairs also not be able to beat financial regulation of a country.

[Cosbycoin]

Banks still exist even though many people in the world know and use bitcoin in the future. Bitcoin still cann't to handle big things in financial affairs also not be able to beat financial regulation of a country.

People have more trust on banking than on bitcoin but now in this age a lot of banks  are also using bitcoin they now accept the value of bitcoin currency .and our new generation want relaxation and they are aware of the value of new inventions so I guess bitcoin is more relax and easy to use so it can do anything. 

[linkme]

NO! Bitcoin can not make Bank disappear unless there are somewhere that people use bitcoin to pay for there daily lives, pay for EVERY SINGLE PAYMENT they have in their lives

[nod]

Bank's disappearance? No way! Although Bitcoin is a good way to make payments but real cash is still the best way to pay for people's lives, we cannot deny cash's benefits

[Jody.Drummer]

No bank ... I do not think so, because banks still need the most people in this world, if for the future it may be yes ...

[dady12]

bitcoin can't make bank to disappear as it is not every body like to invest in bitcoin. even most people fear to invest online as alot of people still believe bitcoin will soon end like liberty reserve or other online payment systems that 've already collapse in the past,alot of people are also aware of hackers stealing your bitcoin online ,they will prefer to keep their money in the bank that is supported by thier various government  but those who have no fear will invest in bitcoin and will make it as all will pay off in the future

[hawthelegend]

Well, honestly i think that that is just impossible to happen, because the way i see it, banks are just like living things that adapt to its surroundings. And its form of adaptation to its bitcoin problem would probably be befriending his enemy instead and try to focus more on the benefits it can get from bitcoins rather than the minor issues that it hates. But if ever it so happens that banks really do disappear, then my friend, we'd already be long gone by then, along with all our grea great great great great grand children..

But hey, i havent studied bitcoins and banks that much, that's just my opinion regarding the topic, so yeah, i ain't a good source for infos. Just sayin'

You're basically saying that those are just your availability heuristics. You used your imagination without relying to any information or without conducting any research at all. I think that we're far from what you're thinking.

The banks can adopt bitcoins, everyone can adopt bitcoins, but will they? We will be long gone before those questions are going to be answered. It just seems so ironic if the banks start using bitcoin because the whole point of bitcoin is removing the use of trusted third parties such as the bank. We'll be back to square one if people started using bitcoins through the banks.

Yea my friend, you are right. I havent studied about bitcoins and banks too much. But, it doesnt mean that i dont know sht about these things, what i was trying to point out is that i don't know ot all yet abput these things. Hope that clears up a what you thought of me.

Now, back to my post, yes i agree a bit, you have a point there my pal, but just think about it, if banks continue to ignore and disregard the existence of bitcoins akd other crypto currencies that is all around. It will raise eyebrows and would probably make the people get into it more than using the banks. Coz let's face it, technologies are improving day by day and it wont be impossible for bitcoins and other crypto currencies to have better mechanics in terms of confirmations of transactions, accessibility etc.. now you see, my point here pal is that if a man if thirsty as fck and he ran put of water he'll be left out of choices but to ask for water from anyone he sees even when it means he has to ask from his enemy. That is also how the banks would play when time comes. They will ignore the negatives of brc to them and focus more on the benefits they can get while at the same time finding ways to increase those benefits.

Hope i explained it well now.

[yrreg ger]

I do not think that bitcoin can make banks disappear. Banks have been existing long time ago before bitcoin was introduced. Banks have been also a great help for many citizens and I do not think that it would easily disappear because of bitcoin.

Even though, there is bitcoin now, people still needs bank to store their money. We can also use online wallets to store our bitcoin but still, banks are more convenient to use especially for people who haven’t had adjusted and adapted the fast-changing modern technology.

[Russelmain]

I do not think that bitcoin can make banks disappear. Banks have been existing long time ago before bitcoin was introduced. Banks have been also a great help for many citizens and I do not think that it would easily disappear because of bitcoin.

Even though, there is bitcoin now, people still needs bank to store their money. We can also use online wallets to store our bitcoin but still, banks are more convenient to use especially for people who haven’t had adjusted and adapted the fast-changing modern technology.

Banks existed long before the advent of high technology or any kind of mechanics or electricity. Therefore, I believe that the banking system is much stronger than the others combined. Of course I also suspect that Bitcoin can very well cooperate with the banking system, but on one condition that Bitcoin is legalized all over the world.

[piececake24]

Banks have the most demands not just by people but also a country because it is a way to cash in or out your money in the real world also it is also helpful to me because i convert bitcoin to my country's money and then cash it out in any banks bitcoin cannot erase something like a bank it is more likely that the bitcoin will always need a bank now but maybe not in the future anymore

[BlockEye]

Banks have the most demands not just by people but also a country because it is a way to cash in or out your money in the real world also it is also helpful to me because i convert bitcoin to my country's money and then cash it out in any banks bitcoin cannot erase something like a bank it is more likely that the bitcoin will always need a bank now but maybe not in the future anymore

Banks is the physical storage of money,without it some countries were not be able too used bitcoin since theres a need to cash out to use it. Banks will always be there , the user might lessen but bank can survive still.

[NJB18]

Honestly, I'm afraid not. Bank will not ever disappear, not now, not in the future. The majority of the people are of course more comfortable with the status quo, that is, with banks and their system rather than the new technological invention.

However, the great, even unbelievable, appreciation that comes with bitcoin and other cryptocurrencies, made them do some form of introspection and assessment. Do they need to evolve with the current trend of bitcoin and other cryptos shooting up high very quickly?

This, I think, will happen--and for sure it's slowly getting planned out very carefully-- the banking system as well as bitcoin will be taking each others advantageous features and somehow meet somewhere in the middle. Both of them will for sure evolve to a new design that offers the people the best services.

[n0ne]

NO! Bitcoin can not make Bank disappear unless there are somewhere that people use bitcoin to pay for there daily lives, pay for EVERY SINGLE PAYMENT they have in their lives

Unless there is a bunch of people using Bitcoin then Bitcoin suddenly drops down to zero then the people that use Bitcoin will notice that Bitcoin has the potential to shut down banks. If banks get involved with Bitcoin then they are playing with a high risk because Bitcoin is not stable.

Volatility is the one that keeps more people under active usage of bitcoin. Banks truly stay away from bitcoin, because of the volatile nature. Banks can't function as now in a successful manner if volatility is there with our physical currency. Changes could happen in the financial system but banks on a whole getting used​ with bitcoin never happens.

[Viscore]

NO! Bitcoin can not make Bank disappear unless there are somewhere that people use bitcoin to pay for there daily lives, pay for EVERY SINGLE PAYMENT they have in their lives

Unless there is a bunch of people using Bitcoin then Bitcoin suddenly drops down to zero then the people that use Bitcoin will notice that Bitcoin has the potential to shut down banks. If banks get involved with Bitcoin then they are playing with a high risk because Bitcoin is not stable.

Volatility is the one that keeps more people under active usage of bitcoin. Banks truly stay away from bitcoin, because of the volatile nature. Banks can't function as now in a successful manner if volatility is there with our physical currency. Changes could happen in the financial system but banks on a whole getting used​ with bitcoin never happens.

Banks are for fiat money while bitcoin is for exchanges and other online wallets, bitcoin is doing well now so we do not need bank
to run us. It will only complicate things and especially that the government will interfere, we know they want to be in control so the decentralized
feature will be at risk.

[vohoanghiep55]

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 think the bank will change according to the current trends, but it can't be missing.

[franklin9]

Overall, I think bitcoins have the potential to change the outlook of the financial system, and hence changing the system basing itself on banks as a central unit for money and in which lending is done.
with bitcoin I see no banks, and lending is done in a convenient interface allowing peer to peer lending.

[rikybrosh]

Overall, I think bitcoins have the potential to change the outlook of the financial system, and hence changing the system basing itself on banks as a central unit for money and in which lending is done.
with bitcoin I see no banks, and lending is done in a convenient interface allowing peer to peer lending.

Bank in my country is try to create virtual money too, but I think bitcoin is still will be the best digital money. The p2p technology will help the countries wich do not have enough bank.

[lukmandog]

Bitcoin will make banking economy better, because will innovate to get closer to the crowd. Government will improve the system while protecting banking system. Bitcoin is better if viewed from a transactional angle.

[7jaka7]

Overall, I think bitcoins have the potential to change the outlook of the financial system, and hence changing the system basing itself on banks as a central unit for money and in which lending is done.
with bitcoin I see no banks, and lending is done in a convenient interface allowing peer to peer lending.

Bank in my country is try to create virtual money too, but I think bitcoin is still will be the best digital money. The p2p technology will help the countries wich do not have enough bank.

I doubt banks will come up with good and ''fair'' cryptocurrency. They will probably just take good parts of blockchain and adapt it to their system... So be careful about centralized cryptocurrencies!

[KennyR]

Bitcoin will make banking economy better, because will innovate to get closer to the crowd. Government will improve the system while protecting banking system. Bitcoin is better if viewed from a transactional angle.

The transactional angle in which it looks good is just because of the system being under your control. The same will be looked in some other manner by the rest of the banks and other financial institutions. This won't allow bitcoin replace banks.