Can Bitcoin make Banks disappear?

[scs3jb]

I suspect there'll be a use case for secure wallet storage; if i imagine my parents, relatives and even friends, they need to have a backed storage.  I can imagine having a load of cold wallets stored in a vault, and then an online insured fund for the equivalent of current accounts.

Lightning hubs are banks too the more I think about it, or a co-operative perhaps.


Combine the two and I don't see banks going away, even if lightning doesn't materialise.

[Marianmariana]

I think Bitcoin is much more steady and looks a long trm crptycurrency for me personally above all alt coins. Ether however appears sranteeing and could adhere to bitcoin's route over time however i don't believe or see ETH would even complement or exceed bitcoin's worth and longetivity.eaoo gu

[Ziskinberg]

Making banks get disappeared is not simple. From the observation I understood the banks might increase their technological development, else banks which adapt bitcoin technology would come into existence.

They can do that, but they can never copy the decentralized nature of bitcoin, they will remain centralize as that is the only way where they can monitor their depositors and implement the different laws such as Anti Money Laundering law. With the popularity of bitcoin now, it's not strong enough to replace the bank, they are monitored and regulated by the government so they will stay here and I find no problem if they can co exist together.

[arteeeezy]

bank will not dissapear it is not simple to do. because we still need need it because not all of people will not use Bitcoin. because banks always have a service that bitcoin cannot do like loan and mortgage and some stuffs.

[bitcoinKnight809]

It can force banks to run out of business. That's why banks have started trying to partner with coin wallets now.

[tikaka]

Are not. I think the banks will not easily disappear as it relates to the government. bitcoin can exist in parallel with banks. Banks can accept bitcoin. The number of bitcoins is limited so it is not all and can replace traditional coins and may cause the bank to disappear.

[jaka331]

I agree, both can exist parallel. But decentralized currency will always be better for the consumer as our fiat currencies...

[CryptoCherry]

Definitely, Bitcoin can make the banks go bankrupt.
I live in Sweden and there is a lot of bank experts in the media saying Bitcoin is a bubble and it dangerous to invest as you can lose all money but in reality, they are just scared that their bank is going to go bankrupt.

[CowboyKiller]

Making banks get disappeared is not simple. From the observation I understood the banks might increase their technological development, else banks which adapt bitcoin technology would come into existence.

They can do that, but they can never copy the decentralized nature of bitcoin, they will remain centralize as that is the only way where they can monitor their depositors and implement the different laws such as Anti Money Laundering law. With the popularity of bitcoin now, it's not strong enough to replace the bank, they are monitored and regulated by the government so they will stay here and I find no problem if they can co exist together.

Yes, the people still fear the power and influence of the government, they do not want to create any war with the government by the cryptocurrency world. Instead, they want to change the decision of the government to accept Bitcoin is legal.

[Hurine]

No, I highly doubt it. Bitcoin is a system that aims to facilitate transactions without the need for a bank.

[Idrilane]

Bitcoin’s economic model differs from that of a bank.Cryptocurrencies (bitcoin) might solve a problem that banks do too.

[Illuine]

 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.

[wledgewil]

Making banks disappear requires more trust and involvement from the people to accept bitcoin and they should even know about bitcoin and the profits level of income in regards to FIAT and Bitcoin. When people understands this fact, they surely starts their transactions with bitcoin and then bitcoin make banks disappear.

[carlowell]

I don not think so. Bank will always be part of us no matter what. There may be changes but never will it come to a point that bank will disappear and for cryptos to run the world. There may be adaptions from banks. I even wished for them to accept bitcoin. It will add the security of my assets and it will make it easier to encash them.

[JPCRYPTO2012]

Probably a big NO, bitcoin will indeed stay but bank instinction is impossible . We have here the central Bank isource of fiat or what we call physical money.  Maybe it's still dificult to predict that bank will disappear cause not all the avearage people use to ,or have knowledge in bitcoin and there are countries forbidden the use of cryprocurrency so still relying in banks and fiat transcation. The more we have an advance mind the more the bank will also upgrade their way of services...

[morrisby25]

Banks is not about currency they use. It is group of people, worldwide, that controls production, military and government. Bitcoin... it is just a way to send money.

Bank system is the most stongest system throughout the whole world and no one can affect the bank system even bitcoin because bank system are legalize throughout the whole world. Yes its true that bitcoin will decrease the users of bitcoin up to some extent.

[Crypto4K]

Probably a big NO, bitcoin will indeed stay but bank instinction is impossible . We have here the central Bank isource of fiat or what we call physical money.  Maybe it's still dificult to predict that bank will disappear cause not all the avearage people use to ,or have knowledge in bitcoin and there are countries forbidden the use of cryprocurrency so still relying in banks and fiat transcation. The more we have an advance mind the more the bank will also upgrade their way of services...

never stop believing...yes it is unlikely, but not impossible! WORK on a solution instead of doubting!

https://steemit.com/money/@hilarski/when-a-preacher-calls-out-the-banksters

[haster100]

I do not think banks can disappear too easily, it can only happen if the paper currency is not popular as btc, if people start using btc as much as they can, then banks can disappear if that does not happen, then the odds almost equal to 0 for me

[wail3Bahwu]

yes bitcoin rule that every one can have his one bank will make Banks disappear.Many stop trusting in bank and bitcoin is only connection bitcoin two pats only.

[Japinat]

I do not think banks can disappear too easily, it can only happen if the paper currency is not popular as btc, if people start using btc as much as they can, then banks can disappear if that does not happen, then the odds almost equal to 0 for me

It will be hard for the government to monitor bitcoin then, for sure there will be more problem in this world.
Bitcoin is good but it needs fiat and we want the people to realize that the centralized system will never be eliminated by just bitcoin, as long as our government is strong, the have the power to regulate everything and that means they will also serve the interest of the majority which is not bitcoin for sure.