Can Bitcoin make Banks disappear?

[roshanface123]

I don't think so, because bank is the safest place to invest money and it's a medium to earn loan . So not only bitcoin even for crypto currencies can't be take place of banks.So bitcoin can't disappear.

[Maxson]

It will not disrupt Banks They will either need to adopt this new technology (blockchain) or they will wither and die - just as retail stores have had to in recent years. Banks either react on, or they will disappear. Anyway, the consolidation of the banking industry accelerates as the behavior of people changes. Some banks will benefit from this technology and some will be pushed to the back end, and some will disappear.

[rexter]

It is not true that Bank will disappear because of Bitcoin,since the beginning we all know that fiat currency has the biggest contribution in every government economy,and the reason also why we need Bitcoin just because we want to earn for fiat currency and we deposit fiat to bank account,if fiat currency has the biggest function in our economy and Banks will never be vanished.

[Lady Coquet]

I don't think so. Bank companies and the system on the bank is far more stronger than bitcoin, and also bank companies are fully supported by the government unlike to bitcoin. And also if there would be a chance probably the government would do something towards it and solve the problem.

[Deubila]

I do not think so, but I think the bitcoin might be affecting the bank and the fact that a bank wants to grow fast I think they will have to run the same technology and market, and the BTC market is a digital market. The large amount of capital that any firm wants to engage in if they have a good strategic vision. My personal opinion is that

[Lorence.xD]

I think there are two factors here. The banking/debt crisis, and the emergence of crypto-currencies. It won't be Bitcoin that will destroy the banks, it will be the politicians who are taking bribes to allow rubbish derivatives to be created, and then allowing bail-ins for the banks to cover their fraudulent lending, who will cause the demise and re-structuring of banking. Bitcoin will just be one of the emerging solutions/replacements.

Not sure what I'm talking about? Look at the recent permission to allow fracking in the UK, and the bail-in of Cyprus and the Greek banking theft to help DoucheBank.

As we are looking for the function of banks, which is being the middleman for any transaction that is happening, it might have the possibility that sooner or later, bitcoin can make banks disappear since bitcoin does not need any middleman in its transactions. If not all of us are gonna use bitcoin then banks will not disappear since there will be people who are still going to use the banks but if it is getting bigger in population of using bitcoin, then it is bad for the banks.

[Granslam]

According to some observations I have conducted as well as some investigations regarding bitcoins lifespan, I must say that bitcoin is gonna take a very long time before its value drops to bankruptcy, if you take into account the exponential increase in value of a bitcoin in average for over a year, you will come up with the same conclusion as mine, as for the case of banks, I think they would still play a part in the rise of bitcoin. I don't think they would become obsolete because as for now bitcoin still depends on the existence of banks in order for its monetary valye be turned into tangible cash.

[addeqt]

As all here know banks endeavoring to make their own particular blockchain,to spare the high expenses they pay,soon possibly be an issue of time till they begin to acknowledges installments of bitcoins ,as applications with bitcoins ,changed over to fiat esteem on the day ,and developing as btc and not fiat.

[pallang]

We all know that banks are important in our lives because we use banks on some transactions and businesses uses banks in their daily transactions like salary of their employees are issued through ATM's so bank will stay.

[Cherrybomb]

I think no, because banks are operating long time ago. And more people are saving their money in the banks.

[Senja Kemuning]

I don't think so. Bank companies and the system on the bank is far more stronger than bitcoin, and also bank companies are fully supported by the government unlike to bitcoin. And also if there would be a chance probably the government would do something towards it and solve the problem.

I agree, the bank gets full support from the government, banks will never disappear even though bitcoin use beats real money, maybe someday banks will receive bitcoin.

[thundercrystal]

I think no, because banks are operating long time ago. And more people are saving their money in the banks.

I am agree with you, i dont think that bitcoin can make banks disappear because banks is part of this world for many years and even bitcoin more popular it has no chance to make banks disappear.

[marydale]

Well, I would say bank will not become obsolete and  disappear eventually due to btc. However, they may be revolutionized due to BTC.
That;s my standpoint.

[GangNamSK]

Well, I would say bank will not become obsolete and  disappear eventually due to btc. However, they may be revolutionized due to BTC.
That;s my standpoint.

The bank has been in existence for decades. It gives users the confidence, ease of money transfer, borrowing, providing convenient services. Bitcoin can become an effective, popular payment method in the future, It takes a lot of time for users to use, I think it will not do bank vanish.

[adjudicator]

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?

It can be happen anytime, but as long as the older people are still using the old way, going to banks to cash out some moneys the banks will never disappear. Because there are lots of people are afraid fo innovation and development so they are sticking to the older ways.

[Inggridpratiwi]

banks will change or go in but they will not go away. but they will always get some services to provide other items that other people want / will buy.

[zentdex]

There are more individuals utilizing bitcoin however I think the larger part of that individuals are not into banks at first. They are not utilizing banks by any means. In the event that all individuals that utilizing banks will exchange to bitcoin then your announcement will fit however it's incomprehensible. Banks will never disseminated only bitcoin of bitcoin. Additionally, banks is the strong foundation of each financial system thus it is impossible to perish.

[Edraket31]

There are more individuals utilizing bitcoin however I think the larger part of that individuals are not into banks at first. They are not utilizing banks by any means. In the event that all individuals that utilizing banks will exchange to bitcoin then your announcement will fit however it's incomprehensible. Banks will never disseminated only bitcoin of bitcoin. Additionally, banks is the strong foundation of each financial system thus it is impossible to perish.

It would not really disseminated by merely having a cryptocurrency in the market of around the world, let us try to look at the whole situation, bitcoin has just a limited number of supply we are billions people in the world and I don't think that we would have enough supply for all of us, scarcity would be a big problem and it is not normal.

[Lingesh]

I think it is not possible. May be it will take long time to disappear banks. If all peoples get awarness about btc then it might possible.

[bernashka]

Some experts believe in full transition of paper to the figure and expect the growth to continue to $ 30 thousand and even $ 100 thousand, while others predict the inevitable collapse of Bitcoin, since what happens to crypto-currencies in their opinion is very similar to a bubble that should burst.