Can Bitcoin make Banks disappear?

[Doamader]

No bitcoin cant make banks disappear since people always use credit and take loans to buy house, cars, or travelling, with bitcoin you cant have any similiar thing, even being able to lend bitcoin for a fee i doubt someone would lend those without a proper colateral.

[pieppiep]

No bitcoin cant make banks disappear since people always use credit and take loans to buy house, cars, or travelling, with bitcoin you cant have any similiar thing, even being able to lend bitcoin for a fee i doubt someone would lend those without a proper colateral.

That's right and banks are the most powerful financial institutions that we have which have support from people and Government and people have more faith in banks as they are dealing with it since its inception and have a feeling that their money is safe in banks so I don't see any threat to banks from bitcoin.

[_Legendary_]

I'm not sure presence of bitcoin can make banks disappear, this is because the bank is the official institution that will always exist as long as it is protected by the Government. and of course the presence of bitcoin can be used by the bank as one service.

[Theb]

I'm not sure presence of bitcoin can make banks disappear, this is because the bank is the official institution that will always exist as long as it is protected by the Government. and of course the presence of bitcoin can be used by the bank as one service.

Banks are by no means an official institution of the government, yes their are some ran by the government but most of them are only regulated by their own respective central banks per country. And you are right to assume that they can take advantage of the presence of Bitcoin the BIG question is how can they use it to their advatage? Because I don't know how they will use it in their work if they can only accept Fiat currency.

[MiF]

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...

Fiat will dissapear but not the banks because they can easily to shift from FIAT to Bitcoins. Parts of histories about banks they will receive goods and merchant to be use on trade before, silver and gold as well are receivable until it become paper money or a fiat now, so it is also possible from fiat they will shift to bitcoins as long they can gain from collecting of fees and interest specially banks are already use to digital transactions in which bitcoin is a digital.

[sekapai]

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...

Fiat will dissapear but not the banks because they can easily to shift from FIAT to Bitcoins. Parts of histories about banks they will receive goods and merchant to be use on trade before, silver and gold as well are receivable until it become paper money or a fiat now, so it is also possible from fiat they will shift to bitcoins as long they can gain from collecting of fees and interest specially banks are already use to digital transactions in which bitcoin is a digital.

 today banks are earning money from our  fiat deposit.
In bitcoin era...bank earning money from our bitcoin deposit.
banks always win..

[Suromenggolo]

Because I think the bank will never disappear, because the bank is still used by someone. but bitcoin can work with banks thus strengthening bitcoin as a means of transaction. something will disappear when it is no longer useful, but the bank will never disappear because it will always be useful.

[NathanJB]

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 am afraid you simply cannot erase banks from the face of the society. They are one of the most powerful and highly in control institutions in our modern era. After all, banks can adapt and evolve along the way to cope with the new demands with the time. Just like what's happening right now with the advent of cryptocurrencies. The banks will have to adjust in order to survive and remain powerful.

[w5pn73]

The stakes are too high.
Banks and governments will make sure this will never happen, you can bet your ass on that.

[8Habits]

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 am afraid you simply cannot erase banks from the face of the society. They are one of the most powerful and highly in control institutions in our modern era. After all, banks can adapt and evolve along the way to cope with the new demands with the time. Just like what's happening right now with the advent of cryptocurrencies. The banks will have to adjust in order to survive and remain powerful.

Banks are there for a reason and are already established in our financial and economic institutions. We can't easily get rid of it in an instant because it is well regulated by governments of each country to safeguard money in and out to our economy.

[Japinat]

Banks and governments will make sure this will never happen, bet on that.

That's right therefore bankers are not worried with that to happen in the future, they will remain the king in the financial industry because they are back by the government who are going to protect their interest. Bitcoin is just another payment system that would be popular but would not disrupt the banking operation, that's to big and unrealistic so we have to stay with a more realistic prediction. Bitcoin will aid or help to serve more people and with that they work together which makes them both stronger.

[Tungsten-1]

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 am afraid you simply cannot erase banks from the face of the society. They are one of the most powerful and highly in control institutions in our modern era. After all, banks can adapt and evolve along the way to cope with the new demands with the time. Just like what's happening right now with the advent of cryptocurrencies. The banks will have to adjust in order to survive and remain powerful.

Banks are there for a reason and are already established in our financial and economic institutions. We can't easily get rid of it in an instant because it is well regulated by governments of each country to safeguard money in and out to our economy.

To be very honest, I don't think that crypto currencies will ever be able to eradicate banks in total from our planet. I don't wanna mention any names but some people are controlling the world economy and they won't let it happen. We need a very big support for this.

[Faliro]

Those who are elderly uses banks to keep their money as savings. The millennial like most of us tend to use bitcoin wallets to keep our money in the form of bitcoins.
When bitcoins will mature and overrule all the currency and paper currency which bank holds have very little or low value, only then bitcoins will replace the most of the bank chain.

[Mcdacillo]

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?

Bitcoin can't replace banks. Bitcoin is a digital money that can exchange for dollars or peso that can be withdrawn through banks or ATM machines. Banks operates the real money. So, I think it can't replace the banks.

[Solve.Care]

This debate over who’s better looks like a classic “Apple vs. Android” argument. In the closest future, there are not so many reasons to believe that bitcoin will knock-off the classic banking system. The vast majority of people still don’t have a proper knowledge of what exactly Bitcoin is. It is almost definitely a currency of the future, but it’s hard for me to say how close this future is.

[vvadym]

Banks wouldn’t disappear, but the classic meaning of the bank could be changed. Bitcoin becomes a widely accepted digital currency. I hope that Bitcoins will be a new currency, which would change the classic bank system. And people will do all transactions via internet using mobile devices, because it’s easier, faster and safer.

[Morgann]

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?

Maybe in the future because not all people knows about bitcoin but they know about all banks. Old people dont recognize bitcoins because it is cryptocurrency and it is online only. Unlik banks both online and offline .

[Bilbo Baggins]

Both will work in tandem, eventually whether it will be bitcoin or another major cryptocoin banks will accept and use them as any normal currencies.

[8Habits]

Both will work in tandem, eventually whether it will be bitcoin or another major cryptocoin banks will accept and use them as any normal currencies.

When government sets into bitcoin, then having bitcoin transactions with banks is really will happen. However, I doubt that regulations will come with bitcoins because the very reason why bitcoin was created is to rebel against regulations by the government.

[Rinder]

Bitcoin wont be able to replace banks, if in the future all countries does legalize crypto world, banks will for sure provide services for crypto investors as well offer some special account soo we can use without need to worry about. Banks always adapt to the future, they are already providing several digital services, accepting bitcoin is just one step above from my point of view.