Can Bitcoin make Banks disappear?

[Sacredtoad]

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.

[annbagira]

On my opinion bank as service will be held afloat at least 10 years maybe more but they will change and it will be a new form the banks not as we know banks today. It will be fast, safety and they find new way how make money and to satisfy costumer or user. It will be new more productive, progressive and creative version of the bank. Of course they will take all the situation in their hands. They cannot stop the bitcoinization or blockchainization but they can to be at the head of all this)

[ASICHEAD]

It cant because old people and big fortunes are stored at banks, soo it wont happen at all, as some people said in the past save your money at the banks and enjoy the fees they pay to you, since they lend your money to others. Even the p2p transactions does requires bank, without them bitcoin would be dead since we need to transfer money between accounts. Bitcoin wont replace anything, it can improve all services as remitances, providing a fair system and not abusive charge due to cambio.

People who put their money to banks just want to be safe with their money, but actually they have a business where they get the money they save.
Bank is just good for saving but not for investing, however there are also some who what to fully hide their real wealth and they can store their money into bitcoins but I think there are only few of them compared to the total number of banks depositors.

Yes people use banks for saving to their business so that they saved money for their future. Banks is the popular saving place in our society but when the others seek bitcoin and spread it maybe the bitcoin become the popular saving place also and investment place for everyone.

yeah i agree with you, bitcoin and bank is different basic. bank is for saving money but bitcoin to invesment
bitcoin can't make bank dissapear  because not all people familiar with bitcoin

I don't agree with you because bitcoin and banks have the same goals but the big difference would be that banks have your money and you have your bitcoins no one can control that except you.

Yes, when we use Bitcoin, we are own our private key and no one knows it unless you do not security your wallet and stolen your private key by someone hacked your computer. Therefore, before keep Bitcoin in desktop wallet or wallet can keep private key, you must to have Antivirus + open full security your wallet.

[8Habits]

On my opinion bank as service will be held afloat at least 10 years maybe more but they will change and it will be a new form the banks not as we know banks today. It will be fast, safety and they find new way how make money and to satisfy costumer or user. It will be new more productive, progressive and creative version of the bank. Of course they will take all the situation in their hands. They cannot stop the bitcoinization or blockchainization but they can to be at the head of all this)

Banks are already an institution and unless that institution and the government will going to fall, then bitcoin can enter and dominate all things. However, that is really far from possibility because we really want an order and peaceful society and when there will be no government functioning, anarchy will rise and it is not good as there will be no order in the street.

[Fasdartin]

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?

In the worst case maybe its possible that the bitcoin make banks dis appear you asked why? Because if people knew about the benefits of the bitcoin i think they go to bitcoin because bitcoin will not get interest from you tighter security and most of all, you control your money you have security in this the only risk in this if the hackers got an interest to your account and make they hack. unlike the banks do after the time and time your savings in the banks was got you a high interest

[TanyaDegurechaff]

Can Bitcoin make Banks disappear? the answer is Nope. Banks have been in existence for so long that it became one of the foundations of trading, economy, and world market. There is no way to replace banks because even now banks are making ways to improve themselves and more and more are lowering the transaction fees to keep up the competition. Even if btc will become the standard currency banks will find a ways to integrate with it for example is that you deposit your btc in the bank with the agreed price whether the price of btc rises or falls the btc you deposit will still be the same value with a liitle bit of interest.I know this idea might work so if there is anyone read this and start an ICO with this concept feel free to tip me 

[camsss]

When bitcoin is already introduced to everybody and everyone is using it, I think that it will be the time when banks will disappear. It is because it will be of no use. People will depend on bitcoin because there are so many advantages that only bitcoin has.

[madwica]

When bitcoin is already introduced to everybody and everyone is using it, I think that it will be the time when banks will disappear. It is because it will be of no use. People will depend on bitcoin because there are so many advantages that only bitcoin has.

Disagree with you mate, bitcoin will not make bank disappear, bank is the one who keep our money safe and bitcoin is money that possibility to adopt by bank. Bitcoin is very risky if you want to save your money but it could give higher profit and people treat this as other source of income. And bitcoin is very different in bank it is a digital money and bank is an institution who taking care of our fund whatever happen our money was safe and even bitcoin will be more popular bank still remain as bank.

[AlloyReserve]

It is possible, it would require far more adoption than it currently has. We would need to be using it as a total replacement for other currencies.

[Fatemablabla]

I dnt think it will ever happen.bitcoin is money and bank is the place where you can safely put that.so we need bank must

[BitcoinMarketer39]

I do not think so, Bitcoins cannot really remove banks because it was been used by different companies and it will affect the entire country. The only possible thing to happen is to have a virtual money that can be used to pay bills on the restaurant or online.

[drm]

I would say it's the other way around, banks (with support of their respective governments) can make bitcoin "disappear".
And by disappear I don't mean ending the network, but enough regulations could really mess with the price and usability of btc.

[xredfoundation]

Bitcoin could become part of banks and banks could become part of the blockchain system. They will be integrated.

[Velkro]

It seems that experts say that Bitcoin 'Here to Stay,' But Banks Could Disappear.

Well they can, but what would replace them?
People are not only digital, but also analog still.
People need banks and need bitcoin even more.

[btcboss71]

I think It is not possible, cause bitcoin is Decentralized and it is not stable like real money.
People believe in Banks cause it is fully centralized and buying BTC for growing their real money. So, I think It is not possible that Bitcoin will able to disrepair Banks.

[GoodOne]

Bitcoin could become part of banks and banks could become part of the blockchain system. They will be integrated.

This can become possible but there are some issues... banks can't go separatily without govs and as far as govs will always want to be in control and to watch what people are doing and who are these people they will force banks to continue their "know your customer" policy so part of people will have disclose their identity if they will want participate with banks

[GoodOne]

I think It is not possible, cause bitcoin is Decentralized and it is not stable like real money.
People believe in Banks cause it is fully centralized and buying BTC for growing their real money. So, I think It is not possible that Bitcoin will able to disrepair Banks.

Bitcoin will not replace banks but banks will try to integrate part of crypto oncept or at least part of services related to investing or buying btc. As example - Revolut. They already announced that they receive huge demand from current customer base to start services like buying btc and investing so they plan to offer similar services in future

[Rishabh riyz]

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...

Well bitcoins were made to give people financial freedom.
Banks are actually getting profit from bitcoins we all know that after earning considerable amount in BTC we all convert it into fiats by depositing in banks . Banks would just start using bitcoins or they would change the way they are functioning now .

[konco_kenthel]

If until the bank was replaced by Schwab how the fate of people who do not know bitcoin in the withdrawal of money? I think it will add more difficulties that can panic for them.

[Junamalik]

of course bank can be disappear with growing bitcoin.