Can Bitcoin make Banks disappear?

[MilesMoses]

Bank in would disappear in the way that they would it function as they do now. If fiat come to the point that has no already. it's impossible.

[albos]

I think Bitcoin's can't make the banks disappear at least in our nearest future, because banks are having already a very big community using and supporting it's services till now. But in time it's possible that Bitcoin will be used more than banks

[Dima95]

i think that bitcoin and banks are very different. people need the insurance for their investment first of all. bitcoin now means speculation. maybe,some improved version can do this

[LastRolling]

Yes, there is a possibility that the commercial banks in the whole world can be foreclose because of the continuous progress of bitcoin in the block chain market and having a large amount of demands.

[zmerol]

What I foresee is that banks will tend to adopt the use of bitcoin and even encourage customers to bank in accounts with bitcoin wallets. Just like we have bitcoin wallets with different providers, banks will also introduce bitcoin wallets where customers can deposit their bitcoins..Banks system has been made to profit ,always profit thats why we pay 33% of fees when we ask a loan ,this is enougt to cover those loans defaulteds.Bitcoin is no way near to be a problem to banks ,the banks wanna the technology of blockchain to reduce the fees around them,but nothing else,maybe one day they can support bitcoin giving loans and interest the same way they work with fiat.

[Jeremiesaranza]

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?

No I thinks but bitcoin is just like also you are banking your money  but in bitcoin  your money gonna triple the interest  but just like in the bank

[coingrowth]

in Swiss banks are adopting to bitcoin and providing investment options for bitcoin holders in banks so we may see change in banking sector

[Lalalalabells]

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 me banks will not literally disappear instead maybe bitcoin will just go above them because there are some people who are more comfortable in bank rather than bitcoin or vice versa. Because banking system is what the people use to use after the trading system is gone. It will still depend on the peoples choice.

[Becase]

many people agree that bitcoin will not make the bank disappear, the only thing that is probably bitcoin will compete with the bank in the future, and this will start happening in this year, but some events will determine how long and how far bitcoin will make the bank feel bad about the presence of bitcoin.

[hinpoc.hin]

it can, why not ? if bitcoin and other crypto is going to used by the whole world,
it will surely disrupt the bank system. peoples will prefer crypto than regular bank

[angelakrasnova]

Where do they disappear? Wonderland? There was no such thing. Banks will change but not go away.

[SadEmo]

No way! Bitcoin need banks to show how good he is  But honestly govenment of any country will try to protect their banks if something will happen.

[kmrunner]

It wouldn't be easy for bitcoin to make bank disappear bcause they are funded, they will always strive because they have regulations and laws that support them. Bitcoin as well as banks will stay forever I think because they have their own capabilities and financial powers.

[Gabriellefull]

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 bitcoin will make Banks disappear. Now in the world, only a small number of people know about bitcoin, but everyone knows about it. The bank has the backing of the state, and it is hard to go away, and now bitcoin is no longer a threat to Banks.

[Iamdavid]

Bank will always exist and crypto will stay also, we still make transfers of our btc into bank account for conversion

[taeewo]

How will this make bank close down, its not possible, banks will only adopt the technology by using it to help them with easy transaction.

[Teodiff]

Banks will integrate in the crypto or we could say the other way around.
Even with full crypto adoption people still need them.

[l0uisStanley]

Bitcoin shouldn't make banks disappear. Maybe banks will change and they will adapt to bitcoin in order to work together

[ugr_erkn92]

If everyone in the world uses bitcoin and blockchain  old-style banks may not be needed  but it is a very long process. In the meantime, its will renovate itself in the banks and change, i think its will make appropriate transitions by giving up banking in the classic sense of the known.

[MaleKing]

There was some guys from Israel that claimed that crypto will make banks dissapear. I left a link down below so you can read more about this subject:
https://news.bitcoin.com/israeli-pm-netanyahu-says-bitcoin-is-rising-as-banks-are-destined-to-disappear/