Can Bitcoin make Banks disappear?

[Siopao]

I dont think bitcoin can make banks disappear. Banks have established and provided people a good handling and money transactions and have been around for a long time. It has gained the trust and confidence of businessmen and even the commoners to be trusted with their money. With the changing world we have right now maybe banks can (in rhe future) adopt and offer services that will cater cryptocurrency transactions but definitely it will not disappear.

[Naughtis]

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?

If all people know about the bitcoin its true that bitcoin can make the banks disappear. Why? For noe there's more online money wallet and the purpose of bank is to get interests on those who want to save their money if more years you save in the banks the more interests they get on you and thats the reason why people used bitcoin if they know because bitcoin can not get any interest on our money.

[Rojectime]

I never feel that Bitcoin can make Financial institutions disappear at least in the around futureBut i feel much more folks will leave banking solutions as Bitcoin's growing up day-to-day

[ployfit]

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?

If all people know about the bitcoin its true that bitcoin can make the banks disappear. Why? For noe there's more online money wallet and the purpose of bank is to get interests on those who want to save their money if more years you save in the banks the more interests they get on you and thats the reason why people used bitcoin if they know because bitcoin can not get any interest on our money.

Bitcoin can't make central and private banks disappear. They never let this happen because they're super power of the world. Capitalists and other share holders of banks, I mean.

[fisheater]

Bitcoin not really compete with banks. Banks are using blockchain technologies to make their transfer of money easier, especially the international transfers.

[s31joemhar]

bitcoin will be more successful but as of dis apperance of the bank is greater the zero percent to be!!
banks are still bank that all the currency and money are well documented but if bitcoin will be the same as the bank and not anonymous theres a chance but as we all know bitcoin is everywhere but with no name tags and legal evidence

[Portia12]

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?

Banks come first than bitcoin. Bitcoin cant replace banks because they are more famous than cryptocurrency all peope knows them even a small kid but bitcoin doesnt. Bitcoin is cryptocurrency not all human has a smartphone thats why they dont know what bitcoin is but banks dont need gadget or internet to be recognize by individuals

[JasonXG]

Yes !! Definitely !! Look what btc did to China ! So surely the banks fear the same thing. They fear a takeover because they know it will happen

Bitcoin has shown us over and over again it can handle anything thrown at it and it works perfectly well as a payment process and is strong and decentralized and run by the people for the people.

[carlerha]

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?

If all people know about the bitcoin its true that bitcoin can make the banks disappear. Why? For noe there's more online money wallet and the purpose of bank is to get interests on those who want to save their money if more years you save in the banks the more interests they get on you and thats the reason why people used bitcoin if they know because bitcoin can not get any interest on our money.

i think even then it is not possible that bitcoin will replace banks, i think that it will world with it in coordination but cannot replace it totally. i think that if all the governments will accept bitcoin as legal currency then i am sure that banks will also start accepting bitcoin and will start accepting bitcoin from the people to deposit bitcoin in banks and therefore i think that bitcoin will make banks more stronger.

[Sir Cross]

This day may not come quite soon because the general public trusts banks. Unless there were to be an event that would lead to the mistrust for banks, people will continue to use it. Bitcoin has a lot of advantages and benefits but people find it to be sketchy so I don't think it could replace banks because people value their security especially when it comes to money.

[Sullivan456]

It can be happen if eveyone all around the world start to using Bitcoin. For using Bitcoin wallet everyone should have a mobile phone. As we all know now a day mostly peoples have mobile phone and everyone start doing small to big transactions by Bitcoin. So it can be possible that Bitcoin can make banks disappear.

[Viscore]

It can be happen if eveyone all around the world start to using Bitcoin. For using Bitcoin wallet everyone should have a mobile phone. As we all know now a day mostly peoples have mobile phone and everyone start doing small to big transactions by Bitcoin. So it can be possible that Bitcoin can make banks disappear.

There will still be banks because not all people will adopt with bitcoin, the centralized system which are controlled by the government
will always be powerful but bitcoin is here to stay. Giving people different alternative is will satisfy them.

[yishak]

Yeah, possibly, Banks might disappear but that won't happen anytime soon it may take ages for that to happen. Until all the people of the world trust bitcoins and also when bitcoin becomes more stable.Then its definitely possible they might disapper.

[BlasterS]

Yes because unlikely to traditional banks bitcoin currency are transparent to everyone and nowadays we are in advancement of technologies so maybe in the future bitcoin have the big chances to make the bank disappear

[Genosx]

I think so in the near future because we are now in advent of new technology. Exploration of new discoveries via internet.

[Rinder]

Banks are taking a fight over crypto on the last years closing exchanges and suspicious accounts with big activity related to crypto transactions, even still providing some support at some exchanges that works with crypto is pretty clear their position against bitcoin and crypto. But as some big companies wich does manages fortunes they had been forced to work over bitcoin due to the big interest from their clients, im pretty sure banks in the future will open some service to work with crypto because if all people start wanting to invest into bitcoin and banks say they havent such service people will find a way to get what they wanna outside those bank or even  outside all banks. Banks does follow progress, and a lot online services are being allowed already to be done at home, soo in the short future bitcoin and crypto services might get incorporated as well.

[DimaS1574]

I think bitcoin  doesnt have a power to destroy banks and even in future  banks will not disappear.   Banks are  strong financial structures and also  are connected  with goverment. goverment  will protect banks if  goverment  take a decision  to do it))))

[ohlawdy]

I think bitcoin  doesnt have a power to destroy banks and even in future  banks will not disappear.   Banks are  strong financial structures and also  are connected  with goverment. goverment  will protect banks if  goverment  take a decision  to do it))))

Yeah and i think most people like the security a bank gives you.
They don't want to be in charge of their own money.

[carlerha]

I think bitcoin  doesnt have a power to destroy banks and even in future  banks will not disappear.   Banks are  strong financial structures and also  are connected  with goverment. goverment  will protect banks if  goverment  take a decision  to do it))))

i think yes that bitcoin is not here to destroy banks, but i am sure that in future bitcoin and banks will worth together, in fact banks are depending on their governments, if their governments will accept bitcoin as legal currency the surely they will also start accepting bitcoin for depositing in banks, and will surely make a system for it, and i am sure that in future we can expect that banks and bitcoin will work together.

[cvan]

It would be ideal for banks to disappear, but they're not going down without a fight. They hold a lot of capital and power in the US/world.