Can Bitcoin make Banks disappear?

[Mr.grin]

actually, bitcoin still has many flaws, so i think with the current lack of bitcoin, it's still very difficult to replace the bank. in fact, you can not complain against bitcoin dev if your bitcoin is lost. different from the bank, you can track users, while bitcoin is very difficult to track transactions.

[soilwork79]

All people agree that bitcoin will not make bank disappear because simply people still using banking services a lot more than bitcoin till now. Banks are too ingrained in our economy and they will adapt to bitcoin.

[Hatuferu]

All people agree that bitcoin will not make bank disappear because simply people still using banking services a lot more than bitcoin till now. Banks are too ingrained in our economy and they will adapt to bitcoin.

That's not true, not even majority of people know about bitcoin so how come all people agree that bitcoin will replace bank.
It will stay if you know it's power, bitcoin is quite new and does not have enough power to replace a long time existing and continue serving the people.

[suzukiy]

in my opinion bitcoin will not be able to make the bank disappear because cash transactions for now still more than the transaction in bitcoin, maybe bitcoin and money will be equally in need by many people. bitcoin and money have their own way

[coinspam]

Banks will never disappear. You really need some seriously deep thinking and (hopefully) you're smart enough to come to that answer yourself.

[Shendy23]

In my opinion Banks are impossible to disappear, because even though bitcoin is our new way of currency today still banks upgrade their ways to make people still use banks, they have many options rather than bitcoin (like loans, insurance, etc) while bitcoin lacks, but we don't know in the near future that bitcoin will also offer another use but still banks is part of humanity and many people rely on banks that's why its not possible to disappear.

[Delarock]

Banks and Bitcoin are here to stay. But that doesn't mean that banks are going to disappear just because of Bitcoin.

[shezu007]

Banks and Bitcoin are here to stay. But that doesn't mean that banks are going to disappear just because of Bitcoin.

it is not possible that bitcoin will disappear bitcoin because bank system is very old system and all countries have needed bank system without bank i think no country will survive. but yes it is possible that bitcoin will reduce the follower rate of bank in future.

[coinsgod]

No way. The banks will always be here way past the day we all die.

[JohnHero]

No way. The banks will always be here way past the day we all die.

The way banks work today for sure will dissapear. Banks will addapt, who has the money has the power. And banks have a hell lot of money. Banks will overcome this.

[Jusbernuk]

Banks not be disappear by existence and popularity bitcoin. In fact i think, presence of bitcoin can be motivator for banks around the world can to compete to offer better financial services for the community.

[gokudera]

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 bank will stay and will not disappear, first of all bitcoin is usually use in Online thingy and banks are usually fiat money where old people are using it.

[bitcoinveda]

Bitcoins won't make banks disappear but paper currency will come to end and more digital transactions will increase

[eddyhalim]

bitcoin can hardly make banks disappear, because people insociety still use banks to save money in invest in to have interest, moreover the banks is changing their methods to work more efficient like using internet payments, it will be very hard for a virtual currency to defeat banks.

[Riddikulo]

Bank will start function differently. It will work with Bitcoin currency, exchange transactions with it, transfers, and much more. Also work with the same crypto-currencies, but with those that will have their role in human life.
It seems to me that every country will have it's own crypto currency.

[Adrazan]

I don't think so, Bitcoin is only a digital crypto currency that be abstractly transact while banks are meant for physical transactions

[daweiwuli]

Bitcoin will not let the bank disappear, Bitcoin is just a currency. Banks have many functions, such as banks can carry out loans. Bitcoin does not make banks disappear, bitcoin and banks can co-exist.

[Kasabus]

Bitcoin will not let the bank disappear, Bitcoin is just a currency. Banks have many functions, such as banks can carry out loans. Bitcoin does not make banks disappear, bitcoin and banks can co-exist.

Or should we say, government will not let bank disappear, that is because they control banks and they are useful in their country.
When people are getting their money pass through the bank, they can easily monitor it and they can trace those who are not paying the right taxes which the government will aggressive impose as it's the lifeblood of the country.

[shark69]

with more and more people playing bitcoin, there will be many people who will keep their money in bitcoin purse. so bang will lose and long kalamaan will disappear. I think people will move on bitcoin because it feels d disadvantage by the bank with an unclear tax

[moamin77]

I always believe that BTC (and of course the 'good' Crypto ALT coins) will live hand-in-hand with FIAT
FIAT will never disappear, so banks won't either