Can Bitcoin make Banks disappear?

[steven.spearman]

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 will not disappear, they will remain because they have the support of the government.

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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?

No, even though it will rise its price  unxpected. Increasing its price and demand is not means of tendency making banks to be clos, yes, their customer will be decreases its number but still they are someone left and consistent in them.

[Daffadile]

The point of bitcoin is to replace banks and make us the bank. Think of it as an upgrade of technology. We all know why it is better since we all use it.
The fact the price is going through the roof is just a bonus.

[paulo013]

No. Banks will remain even the bitcoin goes up. But they should adopt the cryptocurrency. Disappearing banks will not ever happen. Because not all the people around the world knows bitcoin. How about those poorest ?. So the possible happen is the bank will evolve or adopt cryptocurrency and our paper money remain.

[Zooplus]

No. Banks will remain even the bitcoin goes up. But they should adopt the cryptocurrency. Disappearing banks will not ever happen. Because not all the people around the world knows bitcoin. How about those poorest ?. So the possible happen is the bank will evolve or adopt cryptocurrency and our paper money remain.

Bitcoin is very unpredictable, at this moment we can say that it's good for the investors and the traders because the price keeps moving up
and sometimes it will dump, if you do not have patience and trust then you will not gonna like using bitcoin.

[furry04]

I don`t think that btc will make banks disappear as in the near future they will adopt its technology. Banks has roots since many centuries whereas btc is just a new asset and things don`t develop so fast to crash a huge system.

[Amanda Krause]

I'm sure Bitcoin will not make banks disappear as there are many haters of this currency. What is more, a great amount of people don't even know about Bitcoin.

[posoa]

Bitcoin can not make banks to disappear, rather it will make the banks to look into every possibilities of incorporating the bitcoin into one of the services they will also be rendering to the public and also make a fortune out of it. The banks having been existing for many years in collaboration with the approval of the Government, and with its services well known, understood and appreciated by the public.If Bitcoin becomes a generally accepted crypto currency, the banking sector will do all they could to control  and regulate the activities as is presently been done in countries where bitcoin is approved by their Government, and with most of the citizens are trading as well as investing in Bitcoin

[SlimShadyMmp]

i doubt banks will be out of service man. Banks will still be operational, maybe we will have crypto-currency account numbers and then you can exchange your altcoin with fiat. But sorry to shatter your dreams banks are here to stay.....

[mrayazgul]

I think not, banks are not only keeping people's money but it act as a funding for any civil project, finance loans and other services. Banks can adapt Bitcoin and Crypto-Currencies but even the world money will be replaced by Crypto-Currencies but still Banks exist the they're using Crypto-Currencies to fund loans and other services.

i don,t think so that this is going to happen. because both are different from each other .banks are providing facility to save fiat .while on other side btc is a digital currency .I think that the most people just need the normal banks. Some people does,nt even know that Bitcoins exist.in this world.and in the future we can say that it would be happen with new projects like banks launches by bitcoin.for disappearing banks.

No Bank will never disappear. Bitcoins work on internet while the bank live physically how can we compare bitcoins with banks. Actually not every banks aware about bitcoins nor the people in the earth know about bitcoins. It takes a lot of time or maybe years for this to come true. Maybe we shall not be alive on the day when bitcoin will make banks stop their operations.

[PMmesexycoins]

I could be wrong, but I think crypto is more likely to replace some payment processors rather than banks per se.

[katarin2030]

i doubt banks will be out of service man. Banks will still be operational, maybe we will have crypto-currency account numbers and then you can exchange your altcoin with fiat. But sorry to shatter your dreams banks are here to stay.....

No way, just think of from how may years banks are working, how many banking customers are there, dependency on banking sector and then compare with the cryptocurrency users based on that you come to conclusion. Banks will be there forever.

[inoymuninoy]

Money is touchable, so we need it to put in banks because we should not stay it into our house for safety. But bitcoin is a digital currency so we don't need a bank to put it.

[Trela]

I think not, banks are not only keeping people's money but it act as a funding for any civil project, finance loans and other services. Banks can adapt Bitcoin and Crypto-Currencies but even the world money will be replaced by Crypto-Currencies but still Banks exist the they're using Crypto-Currencies to fund loans and other services.

i don,t think so that this is going to happen. because both are different from each other .banks are providing facility to save fiat .while on other side btc is a digital currency .I think that the most people just need the normal banks. Some people does,nt even know that Bitcoins exist.in this world.and in the future we can say that it would be happen with new projects like banks launches by bitcoin.for disappearing banks.

No Bank will never disappear. Bitcoins work on internet while the bank live physically how can we compare bitcoins with banks. Actually not every banks aware about bitcoins nor the people in the earth know about bitcoins. It takes a lot of time or maybe years for this to come true. Maybe we shall not be alive on the day when bitcoin will make banks stop their operations.

Bank and Bitcoin never cooperated, Bitcoin is against the nature of bank. Bitcoin is a decentralized network and help the users own their power, control their money and decide the value of Bitcoin. But the bank do not provide users any chance to decide the value of FIAT, all things depend on the economy of country and the decision of the government.

[ms.rose]

No way in the developing countries. Because internet and Banks can't reach in all people. If can't reach in, how can Bitcoin replace Bank???

[GeniusAko]

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 it is true that some of the financial institutions are afraid to the cryptocurrency especially to the bitcoin. Many professional and experts says that bitcoin can threaten banks. I don't know if the bitcoin can make banks disappear.

[Chachacoin17]

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 it is true that some of the financial institutions are afraid to the cryptocurrency especially to the bitcoin. Many professional and experts says that bitcoin can threaten banks. I don't know if the bitcoin can make banks disappear.

In my own openion i believe  that bitcoin cant make bank disappear maybe  it will make the bank some costumer disappear but it cant make  the bank perish because bank is really more popular and many people will  really trust bitcoin because it bank is really operating from the start while bitcoin is new maybe some people really didnt even have  an idea of what was really the bitcoin yet or maybe they dont really believe that bitcoin will exist.

[cakedexact]

Banks and the Government will never become obsolete- but Bitcoin may just change currency as we recognize it right now.

[Hatuferu]

Banks and the Government will never become obsolete- but Bitcoin may just change currency as we recognize it right now.

Government control this world, so why would they become obsolete, without government there will be big chaos
and the only way the government can monitor and control us is to let us adopt a centralized system.

[FlTZ]

yes,bitcoin works like the bank and ATM.if want make transactions we no need depend on the banks,we can make direct transactions through the bitcoin address.the people who face problems with banks can happily change to bitcoin.banks transaction charges is very high,so bitcoin is best options to transfer and receive online payments.