Can Bitcoin make Banks disappear?

[Layla96]

I guess that would be a very long process. If bitcoin will replace banks, yes we can see the advantages and benefits but how about those people in lower community?

[Dani33]

I don't think this will happen or at least soon because banks are very strong, but it could create competition and then more benefit in future for the customers

[Jonsnowstark]

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 banks in general will disappear. Some banks who.are not willing to accept bitcoin may have the danger of losing its business because many people now prefer online currencies. Some banks are clewrly incorporating within their business the strong emergence of crptocurrency especially bitcoin for that matter. The banks could be threatened by its existence but then they have no.choice but to embrace it or fear the loss of their business.

[wjchong]

Not really. Bitcoin never make banks disappear. Because fiat money has existence in this this world. Bitcoin may be used more than banks but they will never disappear.

[effan_alif99]

i think not disappear, maybe bitcoin can change system of the bank

[annango]

Bitcoin never make banks disappear . You know , although nowadays there are many people starting Btc, many people also  don’t use Btc. So they need banks for their daily life. Let think about that if some day our world is just only take Btc as a money transaction and we all use Btc, what will happen ? I think every thing goes in refusion way. Especially, taking part in investing  Btc we must have good knowledge and well-known about it . In totally , no matter how much benefits Btc brings to ours , we can’t take it as the role of banks.

[alexsandria]

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?

Nope. I don't think so because for me on what i observe is that bitcoin isn't a threat to bank. Bitcoin cannot make banks disappears today. Bitcoin and banks are somehow making some relationship today in our lives. Some of the bank accepts bitcoin in savings and in when you cashed oit money. Bitcoin and banks for me are tandems when it comes to money or bitcoin.

[decoder88]

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 wouldn't cause the banks to disappear because as you can see eventhough there are many people that is into the bitcoi  or bitcoin jobs they do no't say that they will not ise banks in saving their money. I guess the most appropriate answer gere is that bitcoin and banks are helping each other when it comes to money or bitcoin.

[nextel]

I do not see that coming, not later, not soon nor in the future. Why? If there is no bank and Bitcoin will rule over, all of the people involved would be unidentified and and transactions are unverified. Fraud and scam issues will rise and will remain unresolved. There should be a balance in everything. Let bitcoin shine itself.

[Nowherman]

I think that in a few years, due to the development of bitcoin and the blockchain technologies, banks and many other registries will not be needed.
All of them will be replaced by platforms based on the distributed registry.

[bellanas]

I do not see that coming, not later, not soon nor in the future. Why? If there is no bank and Bitcoin will rule over, all of the people involved would be unidentified and and transactions are unverified. Fraud and scam issues will rise and will remain unresolved. There should be a balance in everything. Let bitcoin shine itself.

Absolutely agree, first problem - fraud and scam issues

[Sithara007]

As long as fiat cash exists, the banks will be able to survive. And right now it doesn't looks like Bitcoin is going to replace fiat currency completely, at least in the near future. So I would say that the banks and the banksters will be there, at least for another 100 years. And you also need to remember that they are very good in adjusting to the changing economic situation.

[waqarkahloon]

I do not think this will happen soon because of bitcoin. This is only possible when govt will allow bitcoin as digital currency and stop supporting banks system. Lets see what will happen in near future

[Bafan]

Take a look to this site, This give you more bitcoin by chance, Who it works?

http://www.bitonbet.com

[Zooplus]

I do not think this will happen soon because of bitcoin. This is only possible when govt will allow bitcoin as digital currency and stop supporting banks system. Lets see what will happen in near future

The problem is do not control bitcoin so that is not possible that banks will disappear because of bitcoin.
We are too ambitious for that to happen, bitcoin will rise of course but will not cause this too much damage to our usual financial system or the banking system.

[Bianxee]

I do not think this will happen soon because of bitcoin. This is only possible when govt will allow bitcoin as digital currency and stop supporting banks system. Lets see what will happen in near future

The problem is do not control bitcoin so that is not possible that banks will disappear because of bitcoin.
We are too ambitious for that to happen, bitcoin will rise of course but will not cause this too much damage to our usual financial system or the banking system.

It's not being ambitious to think that bitcoin may replace banks sooner. It is just being futuristic. Perhaps, bitcoin is moving so fast in this present time. Though I myself still don't see this to happen very soon. Banks allies will surely fight when this happens.

[diegz]

I do not think this will happen soon because of bitcoin. This is only possible when govt will allow bitcoin as digital currency and stop supporting banks system. Lets see what will happen in near future

The problem is do not control bitcoin so that is not possible that banks will disappear because of bitcoin.
We are too ambitious for that to happen, bitcoin will rise of course but will not cause this too much damage to our usual financial system or the banking system.

It's not being ambitious to think that bitcoin may replace banks sooner. It is just being futuristic. Perhaps, bitcoin is moving so fast in this present time. Though I myself still don't see this to happen very soon. Banks allies will surely fight when this happens.

Why would they refuse a solution? I think if banks would go digital, it would make their works faster, lesser man power and accurate records. I think they won't fight bitcoin, probably they would create their own and it is based on bitcoin, which might replace their ATMs at the moment.

Banks and bitcoin are not enemies, but people who are holding both currency might don't want the other one.

[Drakula]

Today, for the time being, banks can make bitcoin disappear. Not the other way around. Bitcoin is not yet heavy enough...

I think so, Bitcoin can't make banks disappear; as what you have said, it is not heavy enough and powerful enough to make the banks out of the line. Bank and Bitcoin have a different importance in this world, and I think both of them should stay.

[AdamRay]

Bitcoin can not make a bank disappear. Because bitcoin can not be traded as commodity. If you want to buy a $ 20 bag you can not lose $ 10 transaction fee. Some 3 days to confirm the transaction

[donalfonso]

I belong to the school of thought that banks will never disappear, but will continuously innovate and that means in the nearest future all banks have to find a way to accommodate crypto currencies into the main stream financial system, and this will do a lot to help crypto currency evolution