Bitcoin can / cannot replace the banks ?

[stadus]

For now, Bitcoin cannot replace banks. USD is still the world's reserve currency and no way these banks are going anywhere. Whether you like it or not, even if most of us are preferring Bitcoin over bank, these banks are going to stay for a very long time. No way that Bitcoin is going to replace fiat as our main currency.

I don't even think that this time will come that most of us will prefer bitcoin over bank.

Let's be realistic, people are not adopting bitcoin to benefit its payment system but to invest and hope that they will gain significant profit. Bank does print money and safeguard our deposits, it's too different from what bitcoin has offered to us, we should understand that, and in the first place, bitcoin is created as an alternative currency, not a currency to replace our fiat system.

[wxxyrqa]

There is an assumption that when the capitalization of Bitcoin increases 10 or 20 times, then when bitcoins can be fully used as a means of payment, and Bitcoin will also be a reliable store for savings, because its volatility has significantly decreased. I believe that this is when the competition between bitcoin and the bank will increase, but the banking system will begin to lose its monopoly and relevance.

[Noblefavored]

Bitcoin can not replace banks because this is decentralized, maybe banks may offer services about bitcoin in the future. Most of us the perspective about bitcoin is to invest and gain profit that is totally different in how banking system works or there functions. Maybe they can use each other as a tool in giving services like for transaction.

[Negotiation]

Banks cannot replace bitcoin because it is not controlled by anyone decentralized although it will increase in the future it will take a long time to support it everywhere if the government wants to establish it will not be able to control it. Everyone uses fiat currency for transactions for the banking system its bank officials need to become proficient in using bitcoin currency.

[Flying11Horse]

Yeah they are right it can not happen .The reason I am saying this  is that fiat is more powerful than cryptocurrency ,this is because it has now been used for almost more than a century for buying goods and other stuffs and fiat has the support of the government and banks .So as banks are linked with fiat currencies so it can not replace cryptocurrency especially Bitcoin. 

[akar87]

Bank and bitcoin have advantage and disadvantage each other, maybe bank have weakness from lower transaction speed because by using bitcoin we can send money any where and every where without waiting for bank working day, but with bitcoin still need process how internet speed and most careful by using wallet bitcoin, if you use wrong wallet address your money gone.

[dupee419]

Gotta agree with the majority of the responses here, if we'd push through and keep on believing that BTC will replace banks then it's just not going to make sense, BTC is volatile for a reason, and why BTC won't be replacing Banks at all.

[hemzer]

They are of the point of view that since internet cannot replace the newspapers, the same is true with the banks. Being a crypto lover, i would love to see banks eliminated but does these big people with so much money will let that happen  

who givs a F#$%!
People who want to use the bank use them.......people who want to use Bitcoin use them.... end of topic
Neither needs to replace the other at all.

[South Park]

Centralized institutions like government will always hold on to their own which is Fiat. Moreover, Satoshi never said Bitcoin is going to replace fiat. But gradually, it is running simultaneously with fiat now. Many institutions are accepting it as means of payment.

People for the most part love to daydream so they think of scenarios that while attractive are never going to happen, even some of the most bullish people out there should realize there is no way for bitcoin to replace banks as governments are never going to allow it, also it is not as if banks are going to remain static, most likely they are going to find a way to earn money with bitcoin as well and then they will accept it as any other currency protecting themselves from any threat bitcoin could have posed to them.

[Dobrodav]

  bitcoin cannot replace the banks. The people some people use bitcoin not a bank when transfer money is laundering black money. That's all. Maybe another blockchain coin will replace the banks in future but I pretty 100% sure, not bitcoin.

[akar87]

bitcoin cannot replace the banks. The people some people use bitcoin not a bank when transfer money is laundering black money. That's all. Maybe another blockchain coin will replace the banks in future but I pretty 100% sure, not bitcoin.

Look easy for money laundering when using bitcoin because transaction is hidden and not one know how bitcoin wallet address detail, you can see if corruption understand with bitcoin looks easy how to make money laundering and without any way to detected who is sender and receiver from bitcoin fund, but so far they not understand how to make money clean from corruption and always try to buy some thing could be know by public.

[tabas]

The people some people use bitcoin not a bank when transfer money is laundering black money. That's all.

It's a misconception. Although there really are establishments that are very strict on this and they treat bitcoin transactions as a way to launder money.
But it's not always the case, as you see, it's on the mainstream but doesn't promote laundering.

[milewilda]

The goal of the same banks is to exclude cash payment from circulation, for this banks will use BITCOIN in the future, because even now BITCOIN provides banks with a service that people eliminate cash in favor of bitcoin. The main reason here is that BITCOIN is more manageable than cash, because BITCOIN always leaves its mark on the network, while cash is more difficult to track.
 

It’s no use for banks to use BTC to replace fiat money. Think all of us heard that the world’s central banks are actively working on implementing CBDC’s (central bank digital currencies). So, to my mind, banks will use CBDC’s for the purpose you’ve wrote about.

They would really be ending up on choosing or using CBDC rather than for them to attached themselves with Bitcoin. On general sense, what would they really get if they do have that kind of integration?
They do know that its uncontrollable and a anonymous which simply defies nor opposes the true essence of banking system which is fully centralized or into that certain manner.
To those people who have been keep telling about bitcoin replacing banks? Its impossible to happen no matter how crypto would able to become mainstream but these
institutions would really remain no matter what.As long government exist then centralization will always be on the top priority,hence, people do still prefer the traditional
way for sure.

[sayaya17]

Banks have been around for a long time and their function helps us to convert to fiat today  to cash out our  money. So at the moment,
the bank's position is very helpful. An excellent move if the bank embraces cryptocurrency side by side.   
Even some banks already cooperate cyprocurrency in their services, because banks also do not want to be left behind to provide crypto
services whose adoption is already mass. Of course, this will provide benefits for banks.

[rosebrand]

The bank services is very essential in the society and also there have been around for a long time, people trust the banking system so much and will always wants to work with bank, so I don't think bitcoin will replace bank, there both have thier own usefulness. Many people sees online activities as a treat and will always prefer the traditional way. Not everyone has been able to work with technology so most people will always prefers the established method of saving their assets or valuables.

[Shasha80]

I would rather agree if Bitcoin and banks can go hand in hand and complement each other. But the government is very afraid that the presence of
Bitcoin can replace the bank system, therefore there are still few countries that legalize Bitcoin. Even if we pay attention, there is no way Bitcoin
can replace banks that have been used by humans for a long time. Bitcoin is more suitable as an alternative to payment. Because not all regions
have an internet connection and not everyone is technology savvy. It goes too far to think Bitcoin will replace banks.

[Reatim]

First what is a Need for replacing banks ? Crypto and banking offers the same and also different usage so i don't think they need to compete in the same manner.
also Banks will remain as there are businesses that needs centralized system while others wanted decentralization.
Why instead of making them both a problem why not use them according to your needs?

Bitcoin will not replace banks because its a different system, it does not operate by a centralized authority and follow regulations from Governments. Its alternative decentralized system for people who wants to be their own bank and runs from concensus of networks of computers.

This is what I'm pointing mate , they need to have different supporters and users depend on how People wanted and needed.

[akar87]

First what is a Need for replacing banks ? Crypto and banking offers the same and also different usage so i don't think they need to compete in the same manner.
also Banks will remain as there are businesses that needs centralized system while others wanted decentralization.
Why instead of making them both a problem why not use them according to your needs?

Bitcoin will not replace banks because its a different system, it does not operate by a centralized authority and follow regulations from Governments. Its alternative decentralized system for people who wants to be their own bank and runs from concensus of networks of computers.

This is what I'm pointing mate , they need to have different supporters and users depend on how People wanted and needed.

Different function too and make each other can't replace, I think bank can't replace with bitcoin or bitcoin can't replace bank position, many people still need bank and almost of people do not know how to use bitcoin, but I think if bitcoin have legal transaction currency payment become good partner and support for bank, many transaction become easy if using bitcoin or altcoin.

[Innerpumper]

both are needed. We people say banks are the greatest they're not right. likewise they feel that cryptocurrency is the no.1 bank to be replaced by cryptocurrency. That's not going to happen in my opinion. Imagine, if banks replaced cryptocurrency how do we make a profit? can we make bitcoins that are not stabi as personal assets? and suppose it is a stable coin like usdt. What if we lose our wallets? Will there be a person in charge? like that too bank. Both have their own advantages. and both are the same born of advanced technology.

[geegaw]

I would rather agree if Bitcoin and banks can go hand in hand and complement each other. But the government is very afraid that the presence of
Bitcoin can replace the bank system, therefore there are still few countries that legalize Bitcoin. Even if we pay attention, there is no way Bitcoin
can replace banks that have been used by humans for a long time. Bitcoin is more suitable as an alternative to payment. Because not all regions
have an internet connection and not everyone is technology savvy. It goes too far to think Bitcoin will replace banks.

The government often thinks deeply about this issue, they perceive the existence of bitcoin as an implicit threat in the future, even causing them to lose control and affect their bank children, this very simple problem has been highly valued by them and raised to become a complex issue. While the real story is that bitcoin is not too concerned about this substitution, the alternative is just the idea of the holders of bitcoin, the nature of the bitcoin system is ineffective for this idea, money transfer is too difficult, storage is not easy with high security, the investment aspect is the most general concept of bitcoin