Can Bitcoin make Banks disappear?

[gigatux]

I think physical banking institution will not disappear, it is already an established financial system that has been using since the ancient times. But what I see is they will try to adopt or learn from Bitcoin and other altcoins. This how the future goes.

[jrrsparkles]

I think physical banking institution will not disappear, it is already an established financial system that has been using since the ancient times. But what I see is they will try to adopt or learn from Bitcoin and other altcoins. This how the future goes.

Yes , people use mobile as  bank in future but banks will not be destroyed but people don't use physical banking they use online banking instead of that , it is one of the next level to the future generations .

[dragon fire]

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?

with a high public interest, it is likely to happen.
but there is one thing to note, the role of banks in bitcoin is also influential, because, to be able to enjoy the bitcoin, not impossible through the bank.
so, it seems will always be balanced existence.

[Sanitough]

I think physical banking institution will not disappear, it is already an established financial system that has been using since the ancient times. But what I see is they will try to adopt or learn from Bitcoin and other altcoins. This how the future goes.

Yes , people use mobile as  bank in future but banks will not be destroyed but people don't use physical banking they use online banking instead of that , it is one of the next level to the future generations .

They will stay to serve those people who does trust their system, more people will adopt with the digital currency and crypto currency and everything
they will do is just online transaction but still we cannot deny that majority are not using online transaction.

[Karen J. Mickey]

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?

Without anything easy, investing in bitcoins is not easy, so we need to be careful about how to be alert and make the right decision at the right time to bring about a high economic return. . There are many good relationships, frequent discussion about bitcoin, so new update the current knowledge of bitcoin dynamics, given strategies for each moment, have such new success

[Millertheguy]

Maybe in 100 years to come because everyone need to know what it is for it to be that relevant.

[missycoin]

Precisely banks how they are now = yes, but with a time banks may transform into something more advanced, so general answer- no.

[Alexnelepa92]

Prime Minister Benjamin Netanyahu commented on the subject of cryptocurrencies and the future of the banking sector. In his opinion, banks are doomed to extinction, reports Bitcoin.com.

In conversation with journalists the Prime Minister of Israel said that buying and selling bitcoins the same as transactions with traditional currencies. The only difference between the transactions with the cryptocurrency, according to Netanyahu, is the lack of a third party that would monitor risks and to compensate for losses in case of fraud. "That's what the banks, they take all the risks associated with buying and selling currency

[Bestprint]

Not for the moment surely! There will always be people who wants to borrow money and more traditional people will use bank to save money.

[Raymonds]

Personally, I think it's possible that the cash disappear is a trend, so the emergence of cryptocurrency is to replace the cash.

[Latrix]

The banks will definitely lose some portion of the share to the crypto world. but disappearing or even bankrupt, i dont think it will happen at the near future.

[Pain Packer]

It is really impossible for banks to disappear. But I think they will undergo some change in the future but the lacks of banks meaning the end of economy of one country. All countries on the world rely on each others bank. Bitcoin can disappear but banks will not.

[Joylee]

Bitcoin cant make the banks disappear in the future because many people need banks and you cant take it away. Cryptocurrency is a few years old, while banks have been around for centuries.

[Lucian9]

The Banks will fight BTC and other cryptocoins by all means, the money and power holder nowadays i think are pretty powerful to  do that. Maybe they will find a way to create a disbalance to the holding wealth again, by making their own crypto, or by all means posessing the biggest amount of the existing.

[Jhun030383]

Banks will not disappear in general, instead banks will soon use bitcoins as part of their system.

[Wong Goblog]

I think this is impossible, we all know that the major factor of bank power is the rule of the state and as long as the state protects the banks then anything that happens with bitcoin will not make banks disappear.

[Junralz]

I think its impossible that bitcoin can make bank disappear because people nowadays is too advance ,if bitcoin will upgrade and the bank as well.

[Xising]

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?

Well that depends on the banks ability to adapt to the changes that the cryptocurrencies had brought to the world. Also, the fact that banks mostly accept money that has physical form, thereby refusing the whole idea of online currency. Still, I have faith that they would also adapt to the innovation of the world.

[Taki]

From the most beginning banks tried to fight with the phenomenon of crypto currencies and ICO, cause it was taking clients from them. I do not know for how many times I have heard all those warnings to not invest in to crypto currencies and things about it's dangerous nature. And? I am soon for two years in all of that and for all this period of time I have got only profit and I don't want to leave it. Recently I have heard some news from South Korea about some of their banks, which adding cryptos into their exchange lists. That's what I call the progress and now we can see what is the end of the war between banks and crypto currencies.

[cryptolerant]

From the most beginning banks tried to fight with the phenomenon of crypto currencies and ICO, cause it was taking clients from them. I do not know for how many times I have heard all those warnings to not invest in to crypto currencies and things about it's dangerous nature. And? I am soon for two years in all of that and for all this period of time I have got only profit and I don't want to leave it. Recently I have heard some news from South Korea about some of their banks, which adding cryptos into their exchange lists. That's what I call the progress and now we can see what is the end of the war between banks and crypto currencies.

I agree that banks were trying to fight against crypto currencies since the beginning but I'm not agree that you think it is the end of the war. I believe it is just starting to be bloody. Banks will try their best now to prevent further popularization of cryptos.