Can Bitcoin make Banks disappear?

[obinine]

Thanks to Bitcoin we can become our own banks, we don't have to trust any third party. You can even run your own node if you don't trust anyone in the network. It will take some time before people will learn the benefits of owning your private keys. Probably, they will be always web wallets because not every person is capable of securing money on their own. Also, even if less people would use "crypto banks", someone still have to give loans.

I don't think bitcoin is near of replacing or removing the banks. Removing banks could potentially ruin the economy as the stock market and the exchange still rely on the banks.

That is what most people dont understand, two things CAN most definitely coexist. You dont need to kill one to have the other. Sadly most people dont.

[yfyjgtgui]

Bitcoin make banksa disappear,it is better than bank.bitcoin is not handling by the government,we can make transactions anytime and anywhere.transaction fees also lower than banks.

[morrisby25]

In Bitcoin's current state, I don't think it has the power to eliminate banks since it turns out that banks now have the cheaper transaction fees as well as faster processing time.

Altcoins have fixed issues with transaction fees. Most alts lately dont even have transaction fees or have super negligible fees

[stadus]

I don’t think so, but will take a long year before it makes bitcoin makes banks disappear if the entire county all over the world accept the bitcoin it will makes banks disappear. IF people still need a paper money, then world need banks.

Bank will always produce paper money as majority cannot live with just online currency only, it's very burdensome to them
especially to those who just want a simple life and those who are not educated to use computers.
Maybe we have to be realistic and think that both are beneficial to all, so let's hard both paper and online to remain.

[shouter]

I do not think bitcoin will make the banks disappear, but it may make the banks evolve, but they will not disappear. For me, both Bitcoin and the banks will always exist. Many people rely on banking services which Bitcoin can not provide.

[suvo05]

Not the bitcoin but the blockchain technology will change the whole banking system. The Economy of a country is managed by the central bank. GOV will never allow any kind of technology to took over their current centralized system that could be harmful for any Gov. So there is no chance of disappearing banks.

[Zooplus]

Not the bitcoin but the blockchain technology will change the whole banking system. The Economy of a country is managed by the central bank. GOV will never allow any kind of technology to took over their current centralized system that could be harmful for any Gov. So there is no chance of disappearing banks.

Banks are already adopting with blockchain, they understand now that it's faster and more transparent but they do not really appreicate
bitcoin but rather they have their own system integrated with blockchain, at least now we have a choice on what to use, as long as they will play
fair we can always enjoy using bitcoin.

[Bessta]

Banks will never be replaced by bitcoin. Government will never allow it. But banks will surely upgrade its technology.

[kamax]

In my opinion as a newbie I think  bitcoin wont make bank disapper  because  how can cash out our money if  ever? I have heard that u need a certain bank to cash out.  So instead of dis appearing maybe in the future there will be more bank especially if cryptocurrency will  be the leading currency.

[elbimbo012]

Banks will never be replaced by bitcoin. Government will never allow it. But banks will surely upgrade its technology.

yes exactly bitcoin would not replace bank since bank 's serve as a medium of both virtual and actual transaction maybe banks would ride to the crypto craze to earn more profits

[CryptoRothschild]

Don't hope for that, there is not the slightest chance. What Bitcoin can do is provide an alternative store of value which is independent from the banksters. I am already happy with that,

[ngusmin]

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?

For now the bank will not disappear, but in the future it may happen because changes will always be there.

[Goldberg007]

At the moment it looks impossible, but in future bitcoin may replace banks.

[ellabanana]

I think cryptocurrency has the ability to make banks turns into bubbles. Since, it's main goal is to have a paperless transaction, we won't be needing banks anymore. But, I think it will still take time before it happens.

[xuv500]

I'm confident that someday bitcoin will definitely make banks disappear. But to get rid of banks I hope it could not because banks are different and opposite in concept to each other. As Japan legalized bitcoin each and every country for sure will legalize bitcoin and banks will disappear automatically then.

[Crypto4K]

It might be another crypto altogether, maybe not bitcoin.
But all in all: CRYPTO will make banks dissapear! 

[prieaji]

all that can happen if bitcoin wants the bank to disappear or disappear, because that's one of the bitcoin goals. With all the decentralization it offers, it all has the potential to do it. banks are still needed because for us all still need his financially.

[Ozero]

Bitcoin can not serve as a reason for the disappearance of banks. Banks will always exist, because there will always be people who do not want to use crypto currency, or for some reason can not do it. It will be their right and no one can force them to use the crypto currency.
      In addition, banks will always serve a certain part of the business, as well as state structures in their financial activities.

[ribgraph]

Banks can change in their form, but they are still banks. Bitcoin can attempt to integrate with banks or be the primary currency that banks use in the future.

[Hopeman1]

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?

In my opinion, the bank has not taken bitcoin seriously at all, at least in my country, because there is no bank concerned about cryptocurrency. ,