Can Bitcoin make Banks disappear?

[Finley.398]

Users here make use of bitcoin wallets whether online or offline but these also are online banks. We need a place to store those coins and these are called banks which would exist forever.There is a huge difference between these two. Bitcoins can not replace anything but can form their own identity and depending on their adoption, people may prefer using bitcoins over other forms of currencies but still banks would be in operation.

[Adam.678]

I dont think that it can happen. Many people doesnt even know what Bitcoin is. Even in the probably time of only the cryptos will exist such needs. And even with the most sophisticated crypto in existence will exist always a hacker which can be able to steal or break the security of our personal wallets. Or people which will offer crypto but not security. It is another thing a bank. In all the previous problems...

[makototachibana]

A large of number investors worry about bitcoin bubble. The continued rise in the value of Bitcoin looks unsustainable in both economic and environmental terms. So the survival banking is necessary

[Dylan365]

 the bank is playing a big role in the society...every business is run by money and people still deposit the earnings to their banks, so banks might not really disappear and might just adjust or adapt a new technology. I believe banks will start different type of banking like providing safe vault or mortgage kind of services alone. Banks will fall.Banks wont be out of business for some time, but they will have to compete better, not just monopolize everything.

[jekzy]

Nope.how can you withdraw your million if you don't transfer it in bank?.i knos there's a western union etc...but you can't withdraw a million because your withdrawal is limit only like 100-400k.

[ajjhu]

Very likely, when all transactions can be done by yourself without any bank will certainly make the banks deserted and slowly can close the business. I'm sure if everyone using bitcoin, then the bank will close automatically but no time soon, because the user has not been much bitcoin.

I think this is difficult because there are people in the world who think bitcoin is too risky and that they will put their money at the bank's steady investment rather than the more adventurous bitcoin. Conservative and radical right or wrong, but different directions.

[pallang]

I don't think so because some transactions of businessman and businesswoman are through banks and also some of ofw's are using banks in remitting their money for their love ones.

[dejames]

Banks will always have a role and purpose in our economy. They will probably update themselves and use cryptocurrency if need be, no doubt.

[GTAreporter]

I don't think so, as Bitcoin just now is an investment option rather than actual currencies.

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[Becase]

I think banks will never disappear just because one digital currency, either now or in the future, the bank will be better and stronger in the future.

[Thirio]

Banks would not disappear. That is seemingly impossible. If what they mean is the tangible banks, that may be plausible since almost everything is advancing through technology. Banks in the future may be just an online banking. Banks would not disappear cause not everyone has the access to the internet or some may just prefer going to banks than transacting online. And lastly if you say banks would disappear because of bitcoin, that is unlikely to happen. Since not everyone use, and have the knowledge in bitcoin.

[shoujiuhaituo7]

No bitcoin can't make Banks disappear. No matter how successful bitcoin is in the future, Banks are not dependent on bitcoin.

Banks have their role in the community and will always be with us.

[spiderm4n15]

I do not think so..
Bitcoin is a system that aims to facilitate transactions without the need for a bank,
there shall be tools and factors that influence this economy to cultivate it.
Banks are just one of the factors that influence economy

[antchains]

I think perhaps the banks will issue a cryptocurrency their own time, the bank's role is not only savings, there are many investment loans, these features can not be replaced by Bitcoin for the time being.

[hibiscus]

 How can Bitcoin make banks disappear that is impossible according to my studies human nature  can't afford and even accept what is introduced newly .Even now also there are people who don't understand and try to understand what Bitcoin is though Bitcoin was introduced from 2008 even half of the population in the world are not aware of Bitcoin,People now also put their trusts only in physical currency and Banks they think that bitcoin is not stored in Banks so it can be lost anytime and will be safe if it is invested in Banks so Bitcoin can't make Banks disappear so easily.

[ljm8888]

Bitcoin does not allow banks to disappear. This is not shown. The world government does not allow this to happen. Although bitcoin is entirely dependent on the Internet. But bitcoin does not completely replace the display currency. Bitcoin is still a bit far away from most people. There are a lot of people who don't know bitcoins. There is still a need for more people to accept bitcoin. I look very much more than special money. I will hold it firmly.

[android17]

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 don't think that Bitcoin can make banks disappear, maybe their customers will be lesen but there are more people who wants banks because they are afraid to the possible risk of Bitcoin. Many people may use Bitcoin but choose banks to invest their money; because banks have papers that serves as the proof when unexpected things happen. You can make assure that all loss money were be back to you whatever happens.

[xiaohao111]

I think it's hard for bitcoin to disappear.
Now there is only one part of the world that recognizes bitcoin.
Many other countries are unfriendly to bitcoin, some of which prohibit bitcoin trading as a hoax.

[aoebtc01]

Maybe Bitcoin will be disappeared before Bitcoin can make Banks disappear...

[ljudotina]

I dont think Bitcoin can, will or should make Banks disspaear. It was not ment to do that nor it does all that Banks do, so it can replace them. What it CAN do and i'm pretty much sure it WILL do, is cut into their business, make em behave more user friendly (because they do have alternative in par of their business now) and give us alternative which is always good thing to have.