Can Bitcoin make Banks disappear?

[chukaday]

It possibly could but I don't think it will. I do think the way the financial system is currently will be altered for the benefit of the citizens from here on out. However, I don't think fiat banks will cease to exist instead I think they will work harmoniously beside bitcoin operations in a world that hardly any of us can imagine.

[Jessica2009]

          To my concept I don't believe that Bitcoin can make Banks disappear.Both Bank and Bitcoin are making profits in two different ways.Bitcoin is flexible and is controlled by demand play and the Bitcoin supply is constant.No other governing body controls Bitcoin since it is a digital decentralized currency.Banks get profit by leveraging loans from the account holders itself and is controlled by a governing body and is limited by flexibility.As long as profitable Banks sustains.So don't think that Bitcoin can make Banks disappear.

[chelsieolsen98]

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 personally believe that cryptocurrency and bitcoin is going to be the "money" of the future.. I believe that with the rate and success of bitcoin and other currencies, we are going to be getting rid of the dollar bill. Now that being said, I do not believe that it will make all banks disappear, however, I do believe that what they are saying is that the banks we once knew will be changed to that of which the future will consist of... cryptocurrency. So I believe they will no longer accept the dollar bill, but however hold the currency instead.

[raaaj100]

I think Bitcoin's can't make the banks disappear at least in our nearest future, because banks are having already a very big community using and supporting it's services till now. But in time it's possible that Bitcoin will be used more than banks

[Blackwhite69]

Digital currencies are becoming popular to people since it is decentralized and volatile, but bitcoin is not that usable in the real world since there are only some stores or place that accept bitcoin as a payment, and that means that if there are a small amount of people using it, there will be only few people who will be using it, but the thing is that they do not use bitcoin because it is quickly transacted but because it is volatile, so I think bitcoin or any other crypto currency will make banks dissapear.

For now it seems unlikely to have a major impact on the bank but in later days the Bank will feel the impact.

[Advicerabi]

I think bitcoin can not make bank disappear, although everyone already using bitcoin. Bank has its own role in the world and will always be in need.
Bitcoin will be use for online payments, but we will use cash and credit cards for our daily need.
But there is chance in the future the user of bank will not be as many now.

[PapaJ]

Bitcoin is one of those currencies that makes banks think, and how long they will live!)
Time will tell! but I'm sure that the cryptocurrency will still show itself

[randy321]

Ideally, bitcoin would improve banks instead of making them disappear.  Cheaper fees, new innovative products, happier customers.  Right now people hate banks almost as much as they hate the government.  Bitcoin can help that situation.

[b!t]

I think Bitcoin's can't make the banks disappear at least in our nearest future, because banks are having already a very big community using and supporting it's services till now. But in time it's possible that Bitcoin will be used more than banks

Yeah banks are so huge they will try not to give up their position in power, I think people still need an instance to help them with their financial ordeals to "feel safe"

[Md Faysal]

That true, everyone agreed that bitcoin agree, that bitcoin will not make banks disappear. perhaps the most appropriate reason for this is that these are not as good as the current bitcoin bank. banks already have systems that are very intense over bitcoin. and if bitcoin grows, so does the bank.bitcoin make banks disappear.

[xGeraValerax]

On December 12, Israeli Prime Minister Binyamin Netanyahu openly commented on the future of banking. He believes that blocking technology will replace traditional banks.

"The fate of the banks lies in their disappearance." Yes, will this happen tomorrow? Is this due to bitcoin? This is in question. "

[boakyei]

It is not possible for bitcoins to let banks go out of existence. Banks have been facilitating swift transfer and remitance for traders to buy /sell bitcoins on exchanges. Besides, Bitcoins fees are much higher than banks and only few people who can go extra mile to take the risk of using bitcoins will stick to it while the majority will still be with the banks.

[haster100]

Bitcoin won't make banks disappear but over the coming years we can see banks that adopt the technology of bitcoin for their growth as well to get increased users. bitcoin can transform the global payments

[aryani]

Banks are scrambling right now to incorporate the blockchain,They are fighting a war they can't win.The banks just don't know what the war is all about.  Once small businesses start taking bitcoin, the end will soon be behind.  The only part of the bank that is "wanted" by the people is lending,This will be filled with some future bitcoin bank

[Alfinopogi]

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 that is impossible. Because you can see that of course many people are now using Bitcoin, but you never know what will happen with the value and that is the problem. And i hope later that there will be more people that use Bitcoin. But many people must use banks because it is really important for them.

[KingScorpio]

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 dissappear anyway, we dont need bitcoin for that, cause they are so overregulated, that young people cant fullfill the requirements, and only billionaires can afford to found a bank

but bitcoin helps the creation fo new banks they will be cryptobanks,

[shainasaz]

I don't really think, Bitcoin make banks disappear. The bank will just convert the money and the bank adopted the Blockchain to give us a better and faster experience.

[Nissan-GTR]

I think, banks will not be disappear. Instead, they'll start using bitcoins instead of fiat currency with some regulations like in fiat.

Yes thats true, even though banks were a threat to Bitcoin because they keep saying Bitcoin is not worth investing place where in you cannot have your money a better one than they could do, something like that , I still believe that Banks will still be functional.

[deango]

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?

Bank will not disappear, it maybe change and start to use or work with cryptocurrency, but the banks will always be here because people that not understand encrypt and money will need theme.

[jack8989]

bitcoin will hardly destroy banks in the future because rightnow banks are developing and changing themselves to become the better and more friendly, gaining more trust from users, making people hard to quit on banks, so if bitcoin want to defeat banks that will be a big problem to be solved in the future.