Can Bitcoin make Banks disappear?

[shellsshells]

No i dont think it can really. People that know about bitcoin in the world are not even a quarter of the worlds population

[zemb]

Generally, bank especially World Bank hold the most powerful currency, the cash or money. Even though Bitcoin has a great value today and have a big possibility to become bigger in the future, So BTC cannot make banks disappear. Because for me, you can't withdraw your BTC without banks. So every time you earn BTC and make it money, you also use banks.

[Despacito]

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.

Capitalist system finds a way to protect itself so it's not that possible to make banks and other corporations disappear from the world. It's even harder with bitcoin and cryptocurrencies.

[bribed]

I dont think that Bitcoin or any crypto can make Banks disappear. Banks are very important for a lot of people, because they dont even know how to use Bitcoin and on top of that they cant be put in responsability to handle all their finances by their own.
I hope that there will be more people of course will use Bitcoin but it cant disappear the banks and that will also not happen. Banks wont disappear, they will just change the way they operate in the future.

[wvp333]

I don't think banks will go away or dissapear.
It might goes to a different way.

[engrlodi]

I think, it is hard to disappear the banks in the marketing world, maybe they can use bitcoin in withdrawal, deposit or loans in the bank. Bitcoin has so many credential in the marketing world, maybe it is not possible that bak will uses bitcoin in the future. Bank is more important to all people so that they will use bank to secure more money because in digital wallet, it can be hack or scammed by other people but in the bank there is only a less chance in this situation.

[giogio0504]

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 not disappear, but they might change type of there activity, more likely they will change their system.

[JohnnyBrown]

No NO NO , banks are required for a country for economic growth plus it gives a high security for money while bitcoin is just a currency that can be either be banned or not to a certain country,

[Anti-Cen]

"Can Bitcoin make Banks disappear?"

Well a full grown elephant can "disappear" behind a tin of coke if it's 100 yards away
and the elephant in the room is Bitcoin transaction fees going from a mouse size $0.10 to
a massive $25.00 or more.

The two question you should be asking are
1. Will I have any value left in BTC to cash out
2. Will the banks take payments coming from Exchanges so i can spend fiat on the high streets

Facts are the bitcoin miners are worse than bankers when it comes to fees and the new
Lightning Network uses hubs, these charge fees are are mini banks anyway.
https://www.youtube.com/watch?v=MpfvhiqFw7A

[MrMonkey]

I think no, because even if the bitcoin will grow that big and more popular there are still a lot of people who doesn't know to bitcoin and still uses banks.

[Gusbaaa]

I think the bank will not disappear.
They can change or can work with bitcoins.
But they will never disappear because it will never disappear as well.
If the fiat reaches a point that is not useful,
then that's the only time the bank can disappear.
But as I have said, it is impossible.

[cybersofts]

Well, I believe someday bitcoin and other digital currencies would make banks disappear or even at least make them less important. In time, there would be a massive adoption of cryptocurrency by the people and that is the when banks would disappear by becoming less important to the people. 

[holegordon]

Even though Bitcoin is very popular today, there is no chance that it would eradicate banks completely because local money is done with the banks rather than online money transactions.

[Anti-Cen]

Even though Bitcoin is very popular today, there is no chance that it would eradicate banks completely because local money is done with the banks rather than online money transactions.

Ripple may bridge the gap and I know 100bn coins instead of 21m is crazy right, plain stupid and I would agree
but my calculator seems to be arguing with me so maybe it's broken

100bn divide by 21m = 4,762
not sure if my maths is right here 
Well if I take XPR price of $1.89 today but round it up to $2.00 just to help my mental maths
easy then I am left with a number of $9,523 which is about 40% lower than the price of one Bitcoin

Not trusting my calculator I moved on to "online money transactions" and could not workout the
worlds population of 7.5bn and guess at the transactions per second need to process that many people
but I did read that Ripple says they can do 70,000 transactions per second and Bitcoin only managed
7 so that's 7,000:1 

Now my attention turned towards transaction fees but my battery in my calculator went
flat and I was trying to dived BTC fees of $25 per transaction (It's cheap today  ) by $0.02
but I keep coming up with another stupid number but I didn't forget the initial cost of having to keep
$40 in my XRP wallet  which was about 1.5 X BTC transaction fees.

Please someone sent money to abc1234567890def so that I can fix this bloody calculator will you now !

[George P.]

I highly doubt it!! The financial system is a multi trillion dollar dynasty!! You can not just make it disappear!!

[sann111]

I doubt it since Ripple also supports banking system.

[Kezio]

Truth be told, they might not disappear in a traditional sense, but in the way they functional. They might change their procedures to be able to integrate cryptocurrencies.

[Skroojee]

Banks will always be needed. Since we need institutions in which people can come and put their money or other valuables and be sure of their safety.

[ross09]

im sure it can...but it will take a long time to make bank dissapear...
but make sure that all people know what is btc...in my country just a less people know bitcoin...

I do not think bitcoin being known worldwide can make banks disappear unless bitcoin will going to have a much stronger security when it comes to  saving coins in wallet. or maybe someday and we all wish that bitcoin is going to be more useful when buying some important stuff and some basic needs in our daily lives .. we may never know what future may give us  but let us all just hope for the best both bitcoin and banks too..because this two (2) have giving us all benefits in saving and investing for  our future..

[ryan2018]

In my opinion the possibility of future banks will disappear, we see the function of the bank itself as an institution that saves money, the money we use now has many shortcomings than bitcoin that does not need transaction costs, so I think cryptocurrency is the inevitable future