Can Bitcoin make Banks disappear?

[bit247]

"Bitcoin make Banks disappear" maybe not but it will reshape your financial world for sure.

[diegz]

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.

Bitcoin has high fees too specially if you would transfer a small amount. I think there is almost no difference when it comes to fees now.

No matter how we wish that banks would disappear, I think they will always be there. It is not just the money that is in the bank, the people that are operating it  are not just ordinary businessman, they are knowledgeable on what they are doing,so I think they can cope up in the future.

[Gotottack]

I really think so especially when they will not improve their obligations to its clients. As basic as it is, you can see how banks are growing richer day after day while their clients, especially those small-time depositors, are not getting the value for their money. It short, their money is not growing in banks and has therefore become a dead investment.

[qiman]

I doubt it. Central banks and Govts are way too powerful. Just a bit of news about the Brits regulating Bitcoin exchanges and the price of BTC fell almost 20% and today there has been a small decline in many cryptos. Markets work on fear and greed and when the fear sets in, so does retarded market sentiment. Bitcoin can only get more powerful thank Banks if people change their mindset and stop living in fear.

[LUXMICOIN]

No, I highly doubt it.

Bitcoin is a system that aims to facilitate transactions without the need for a bank.

People tend to overlook the fact that anywhere where one transacts value in different forms inevitably forms an economy. There shall be tools and factors that influence this economy to cultivate it. Banks are just one of the factors that influence economy. Banks run within a different kind of economy. Banks are designed to safeguard people’s money, lend the same money to people that need them to collect interest and eventually have the money rotated within to generate maximum value per rotation.

Bitcoin’s economic model differs from that of a bank.

[Smpdytz]

Yeah sometimes beacause using bitcoin is always better than get support from third party like banks .and if you use to do transaction with bitcoin you dont need a third party.and btc is the new technology sometimes banks will update with the bitcoin technology for their survive

[djmixen]

I think it's not easy that bank will disappear by bitcoin because bank is so many decades and many  people are using it in the whole world, maybe banks will cooperate or having partnership in bitcoin to help them spread about it and many people will invest on the said bank because bank is also accepts other kinds of investment.

[bakerlisa510]

I think it will work simultaneously with the fiat currency because everything has its own positive and negative sides.

[Isaacck]

If only power is not a problem it would be easy for bitcoin to make banks disappear. Bitcoin has all the components every people needs and wants that banks can not provide. Especially the decentralization which banks can never provide the users. It also gives opportunities to make people earn tremendous amount of money unlike the .05% interests of the banks. Bitcoin is almost impossible to get bankrupted, aside from having a very low price.

[xebecstyx]

I think the bank actions in Cyprus show that a national bank for the people is needed. I believe that these will appear, and will support a more stable fiat currency. These banks could also supportcrypto-currencies as well as cash. Will the current banks survive? Not if the governments stop taking on their debts resulting from reckless lending.

Banks has been an important institution in any country, especially in the aspect of money. I would say that banks won't disappear, but instead, they would have to change or add more facets to their business to cater to these cryptocurrencies. Right now, many banks are on the negative when it comes to transactions concerning cryptos; however, it's only a matter of time before they have to adjust and also delve into the cryptocurrency market because it is becoming a big business. At the end of the day, a business is made to make money, banks have the same goal.

[Malintha1996]

Banks will not dissapear.At this rate,it can be beleived that banks will use crypto currency instead of fiat currency with centralized and regulated boady.

[shinchan123]

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?

It all depends on the capability of all banks to adapt to the changes that bitcoin is bringing and possibly could bring in the future. We have to consider the fact that someday, not just bitcoin, but online currencies will take over the payment system that we have come to know. In that case, the banks all over the world need to adapt to that innovation in order for them to survive.

[Konco126]

I think bitcoin will not get rid of the bank. If that happens, maybe because bitcoin has been legalized by all countries in this world. Don't be too confident to the experts only, because experts can only estimate it and can not prove it.

[jputra635]

Bitcoins and Bank both are different with each other, Bitcoin is a currency and bank always manage to currency . i think bank is always helpful for Bitcoins and other more currencies which is coming now, in the coming year it will be clear that bitcoins can't disappear to banks

[lifengpu]

I do not think that bitkoinu is under the strength of how good it was not the banks are still stronger and yes, and people are more likely to check banks than bitcoin

[xebecstyx]

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 don't think so. Bitcoin can be a powerful market player in the future. And I think that instead of killing off banks, banks would have to adjust and change their business and some departments of it for that matter to be able to accommodate the changing landscape of business. Right now, banks are not totally embracing on adding bitcoin transactions in their business due to the negativeness that is being thrown at it. I think in the future, when the volatility and reliability aspect have been addressed, it would be easier for cryptos to penetrate the market, that would also help banks accept it ever more.

[ngavanngo22]

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 the bank will always exist, Bitcoin can not replace the bank because the BTC only has personal transactions, and transactions between businesses need to have banks as intermediaries to ensure the calculation. safe and secure. 

[genology]

Banks would probably change its processes if ever Bitcoin continues to grow. Banks have its own purpose why it is there and they'll just adjust these purpose on what's happening in the environment.

[LUXMICOIN]

for  me, I think that the banks will not disappear. They may be developed further, change the way of the actual existence but I think that will survive. Always will be need for money in big plans or projects, or even in various situations of everyone of us. May be a place when are offered the needed warranties that something can go without problems and take the needed money (or tools which may replace those). Be this the time of the actual us dollar and be the tomorrow one when maybe will be the day of bitcoin or the cryptos. Even in the probably time of only the cryptos will exist such needs. And even with the most sophisticated crypto in existence will exist always a hacker which can be able to steal or break the security of our personal wallets. Or people which will offer crypto but not security. It is another thing a bank. In all the previous problems. Or maybe even others that are not in my mind now.

[alterwelt]

I wouldn't say dissapearing forever and ever, but, isn't getting away from the bank system one of the main reasons people start using bitcoin in the first place.