Can Bitcoin make Banks disappear?

[katiecbell]

Bitcoin can not make banks to disappear, it will only make the banks to diversify. The banking sector have been in existence for many years now, their operations are not only approved by the Government but also approved by the members of the body. The banks have a regulating body called the central banks, so the banks have already gotten a solid foundation so talking of disappearing as  a result of an Emerging Bitcoin which though is gaining ground in many counties of the world, but yet to be accepted in some countries,even when accepted by all the countries, bank may key into the Bitcoin Business as well.

Yes both have their own importance. You cannot compare two neither can deny one’s importance. Both are good in their own way, still many people prefer banks because they feel more safe on that side and some are getting into crypto so to earn more. Anyhow bitcoin cannot make banks disappear but can give a tough competition to it.

[webdevmastery]

In my opinion it cannot, Banks are the first in the list where everyone is placing their money and in the future maybe they will implement a way for bitcoin holders to also place their coins in the bank and set it to time deposit with a huge amount of scale unlike on fiat with a low value of scaling as the time goes by.

[Aceanyth]

I don't think that bitcoin make banks disappear banks have a lot of money and many people are supporting it. A real company should invest in a bank rather than in a bitcoin i think.

Some small companies are investing in bitcoins because they can make good money if we can make that big companies can invest in bitcoin. This would be nice.

[Trela]

Bitcoin can not make banks to disappear, it will only make the banks to diversify. The banking sector have been in existence for many years now, their operations are not only approved by the Government but also approved by the members of the body. The banks have a regulating body called the central banks, so the banks have already gotten a solid foundation so talking of disappearing as  a result of an Emerging Bitcoin which though is gaining ground in many counties of the world, but yet to be accepted in some countries,even when accepted by all the countries, bank may key into the Bitcoin Business as well.

Yes both have their own importance. You cannot compare two neither can deny one’s importance. Both are good in their own way, still many people prefer banks because they feel more safe on that side and some are getting into crypto so to earn more. Anyhow bitcoin cannot make banks disappear but can give a tough competition to it.

That is right, the government are fearing the cryptocurrency world can compete the FIAT system of them in future. Over the years, the banking system proves its system still has risk to saving money. I remember some countries had financial crisis decided to blocked the capital of user to solve their issue.

[FrankGismo]

Maybe in the future where the most people in the world believe and invest in bitcoin it could make banks disappear but there would still be people who protest against it like feminists those people will always be here around.

[dianepot]

i dont think so ..
Bitcoin is a system that aims to facilitate transactions without the need for a bank.

[AlexeyVoranov]

Bitcoin can not make banks to disappear, it will only make the banks to diversify. The banking sector have been in existence for many years now, their operations are not only approved by the Government but also approved by the members of the body. The banks have a regulating body called the central banks, so the banks have already gotten a solid foundation so talking of disappearing as  a result of an Emerging Bitcoin which though is gaining ground in many counties of the world, but yet to be accepted in some countries,even when accepted by all the countries, bank may key into the Bitcoin Business as well.

Yes both have their own importance. You cannot compare two neither can deny one’s importance. Both are good in their own way, still many people prefer banks because they feel more safe on that side and some are getting into crypto so to earn more. Anyhow bitcoin cannot make banks disappear but can give a tough competition to it.

I dont really think that bitcoin will make banks disappear i think that bitcoin will like maybe build their own bank in the future or just stay as online currency. I think that banks will get jealous eventually and try to gain some money from bitcoin.

[Clarkduco]

Banks not disappear as bicoin continues to be popular from time to time. Only, banks that can't innovate to reach their customers will be left out. Bitcoin is too strong. Central banks will inevitably anticipate this.

[tientien1]

not not
Banks never lose, there is no substitute
If it is replaced then it is also a type of bank variant. In short, it is also a monetary translation
Maybe virtual currency will replace real money in the future, because we can buy everything through pisa card
 

[Romeoscousin]

I feel such possibility is extremely low. Making banking institutions disappear is simply a part of the bitcoin's development.Should this happen most banks might change their technology and try using bitcoins.

[seanskie18]

Nope, bank is still bank. Bitcoin is still bitcoin. No one can make banks disappear. Maybe bitcoin can make their own bank. But I know bank continue to exist because many people are supporting it.

[kevinzxz]

I think it's hard to get the bank disappear because of the bitcoin, because the bank has been around for a long time and that's the economic pillar of a nation, so I'm sure bitcoin will never replace the bank. but bitcoin can be the same for the bank I believe can happen, because bitcoin users are getting more and more. not just from one country but already used by people in many countries.

[bestbiz9]

I don't think banks will get disappeared too easily or too soon..just like paper currency is still not replaced even after the advent of credit cards ,online transfers,contact less payments
The banks may adapt to customers requirements and may offer bitcoin related services

[darrly]

I think not. Yes bitcoin has great potential and can influence the change that will happen in the future in physical money and the banks will most likely adapt but they will not disappear. Maybe they will add bitcoin services and will focus on what has more potential. Banks didn't stay this long for nothing. They are important in our society.

[mayidid]

I don't think that the banks can disappear so easily. I think that the most people just need the normal banks. Some people doesn't even know that bitcoin exist. that makes banks so strong, banks won't disappear in early future. You cant finish the current banking system in few years. Also for this to happen, bitcoins should be an option in every store , in every transactions and of course awareness of bitcoin is also a major factor.

[thenameisjay]

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 is here to say and that's right but bitcoins won't ever replace banks. Fiat money are still here to stay as well as bitcoins. It doesn't mean that bitcoin is booming, fiay money will be replaced by bitcoins. They both are on totally different levels. This analogy is similar to "Will gold replace oil". Both are useful in their own rights, with fiat money living in banks and bitcoin in blockchains. Bitcoins will never bring down banks.

[katarin2030]

Banks will not dissappear. We will still need banks as not everyone will use Bitcoin. We are already seeing banks for Bitcoin. If anything banks as we know them may have to move with the times and start bitcoin accounts. At the end of the day banks make money of our money they will want to try making money from bitcoin too.

Yes it's impossible to make banks disappear, as banks are used by almost every common people, but how many are using bitcoins.

[saiteja01]

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?

They may not disappear but they can also start using blockchain technology and can accept Bitcoin for their transactions.

[pinkliar]

Banks will not dissappear. We will still need banks as not everyone will use Bitcoin. We are already seeing banks for Bitcoin. If anything banks as we know them may have to move with the times and start bitcoin accounts. At the end of the day banks make money of our money they will want to try making money from bitcoin too.

Yes it's impossible to make banks disappear, as banks are used by almost every common people, but how many are using bitcoins.

yes agree on it this is very impossible to make banks disaapear but it can be use as a second choice than bank because we know the use of bank and it is very useable than when are use this kind of currency.

[miss.M]

Maybe in the other country where bitcoin is more transaction that accept and if bitcoin will remain in the highest value. When people are aware on how there money become increase easily or grow faster if they invest on bitcoin.