Can Bitcoin make Banks disappear?

[Hui8]

This topic looks too far stretched in economics of nation. The fin tech is big stuff and it will take time for bitcoin to workout the real life entry. Banks are big entities and it is not as easy as people around are saying that banks will just disappear. There is no way that they gonna disappear because the world operates on it and they are the only legal financial institutions in the world which operates under government regulations. They can not be defeated so easily and there will be mostly a middle way for bitcoin to come into physical form.

[harimauagam]

Certainly could be because of the growing digital money definitely make the bank disappear and money in the real world is useless

[Farma]

Can Bitcoin make Banks disappear?
It could be future will be like that, because nowadays it has been using digital for existing payment.
Does not rule out the banks that will exist today will disappear in the future that exists.

We are really not certain and unless there is chaos going on in worlds government, then maybe that is the time that Bitcoin will overtake banks or even replace it - but it is really far from happening.

I guess that's not necessarily, because so many people depend on the bank. Well, banks provide services that do not exist in bitcoin, and besides, the bank has also been trusted, even almost by everyone in the world. So not necessarily bitcoin will replace the bank

[Viscore]

Certainly could be because of the growing digital money definitely make the bank disappear and money in the real world is useless

Your opinion are baseless, how it make the real money disappear when it is the one that is recognized by the government.
Bitcoin is legal up to the extent of being a payment system only, it's not hard to understand if we study what is the difference between
bitcoin and real money and that way we can make a more realistic prediction.

[batako]

Certainly could be because of the growing digital money definitely make the bank disappear and money in the real world is useless

Not all countries accepted bitcoin as a payment method and sometimes bitcoin will take a very long time to get a confirmation. With just those two facts we can see that it's impossible for bitcoin to make fiat useless. Whereas, there're still plenty of facts that make fiat unreplaceable.

[kynaz]

I don't think Bitcoin will make the bank disappear as everyone is still not aware of the importance of Bitcoin and they prefer to use cash rather than virtual money. I think in the future if Bitcoin is legalized around the world then surely the bank will disappear

[bitcoinissatan]

I think it could be bitcoin to make the bank disappear but in my opinion it takes very long time to make the bank disappear, and just waiting for bitcoin development will be better used in every country and will likely shift the bank and make bitcoin as a new bank for the future

[tinhyeumaunang]

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?

The bank will not disappear just because the development of bitcoin. I see that the bank has existed for a very long time and quite durable so it will not easily disappear like that. You think there will be reason to it disappears?

[chloemar]

I think Bank will not disappear. Because, Bitcoin and Bank are different fields, each of which bring certain benefits for people using them

[caeles]

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 it is a yes because today everything depends on the internet and bitcoin is an internet money so I think bank might be disappear if the whole world depends on the internet.

[sameer dadarwal]

I think the banks has started learning about the bitcoin system. Because they now that bitcoin can became their rival one day.Bitcoin can abolish bank system.But it take many years to became a challenge for them. Because their are many people in world who has not listen the name what the thing bitcoin is.

[danherbias07]

I think the banks has started learning about the bitcoin system. Because they now that bitcoin can became their rival one day.Bitcoin can abolish bank system.But it take many years to became a challenge for them. Because their are many people in world who has not listen the name what the thing bitcoin is.

They are surely aware of bitcoin.
They are now even trying to make their own blockchain just to copy it. They saw many great features with bitcoin and they want this installed in their system but don't want bitcoin itself.
They dont want something which is free and people are the one managing it.

[doomloop]

Can Bitcoin make Banks disappear?
It could be future will be like that, because nowadays it has been using digital for existing payment.
Does not rule out the banks that will exist today will disappear in the future that exists.

We are really not certain and unless there is chaos going on in worlds government, then maybe that is the time that Bitcoin will overtake banks or even replace it - but it is really far from happening.

I guess that's not necessarily, because so many people depend on the bank. Well, banks provide services that do not exist in bitcoin, and besides, the bank has also been trusted, even almost by everyone in the world. So not necessarily bitcoin will replace the bank

yes! you are right to some extent that a lot of people today are still using fiat currency and they think that the bitcoin is going to lose the price in coming days but I think the price of the bitcoin is increasing gradually and not decreasing may be the price is a bit low today but it will not remain the same after some time so for me its yes bitcoin can take the place of the fiat currency soon then people will keep bitcoin in their hardware wallet instead of keeping in banks as a money.

[sukron14]

I think the state-owned bank will always exist because its managament structure is clearly compared to bitcoin if the bank in bitcoin is lost nor is there anybody who can be responsible

[joebrook]

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 really hope that banks does eventually disappear from the system, In my country a telecommunication giant is offering a service called mobile money where you can you save your money on your phones thus use it to transact business. This is making banks lose customers due to their outrageous monthly charges and people are flocking to mobile money. In due time when bitcoins is widely accepted everywhere, this is the scenario we are going to see everywhere.

[target]

Well they are very much afraid of crypto assets that banks are heavily advertising their systems these days. Ads on tv about bank investments are prompting almost every hour. Now the Floyd made people aware of it, it must be something they hate the most.

[danherbias07]

I think Bank will not disappear. Because, Bitcoin and Bank are different fields, each of which bring certain benefits for people using them

Yeah. This two cannot be compared because they are not alike. Perhaps, they should compare banks with bitcoin wallet sites.
Even you take bitcoin as a commodity it is far away from being a bank and it wont make it disappear.
Maybe it will lessen the bank users because with bitcoin wallet they can now manage their own account but that doesn't mean it will take away banks.
We cannot erase the fact that banks are being trusted by most of the people until now.

[Lannie25]

i dont think so ... but im agree if bank will gone because of bitcoin

[SHANTA]

It is impractical that bank will vanish on the grounds that the explanation for this is Bitcoin is not as much prevalent on the planet and in the event that it happens then the bank will change their method for managing and manage bitcoins however they won't vanish regardless.

[kiddeon123]

well it might happen after a long long time, maybe if that happens they will just became a bitcoin trading center.