Technology has been one of the factors that has made things very easy for everyone, gone are days when people were finding it very difficult of sending letters from one person to another do to the lack of internet, so however for a message to be send across it must go through postal office and before it gets to the recipient it takes up to days. But however the arrival of internet changed everything and made it very easy everyone to convey messages from a person to another through emails.
So Boiling it down to Bitcoin and banks, actually the existence of Bitcoin has greatly improved the mindset of people especially on investment diversification such as profits making because is obvious that any money we put or save on the bank will not yield any profit so instead of people saving much money on the bank when there is a great opportunity offered by Bitcoin to channel all our money with the possibility of making or multiplying our capital in the future. So perhaps do you guys think the reason why most countries are having some restrictions on Bitcoin is because of the effects it has on the bank that people prefer to invest there funds on Bitcoin instead of banks?.
There is a misconception about these email, Gmail, Banks and bitcoin.
When they say bitcoin will replace the banks, it's not like they are going to make banks to be useless like Gmail electrically modernized mail. No, the two are parallel and there is limitations to both of them but they still coexist like two species. Banks are none to be centralized and often limit people when it comes to versatility of financial system but because Bitcoin is decentralized, nobody limit you how and when you should spend your money. If you go to a bank today to open an account, you have to under series of protocol with documents only to be giving a limited account but with bitcoin, it's permissionless as you don't need anyone approval to open a wallet, you can send in and out as many bitcoin thag you need. However, you can't do everything with bitcoin yet because of the legal status limitation. You can't spend bitcoin without the use of fiat and that's why I said in the beginning that bitcoin can't do same Gmail stunt to banks, it's still far from that but who knows maybe in the future.
To buy bitcoin, you need to buy with any recognized currency which is fiat, you definitely need bank interference to help you facilate transactions and this makes banks and bitcoin to exist together, to buy you need them and to sell, you also need them and addition, you have to py tax in fiat in some countries. This is why bitcoin and banks will live for years except if we see changes later on. The big banks are trying to chase out bitcoin though, the recent attack of SEC and other law enforcement says a lot about how they want bitcoin buried 10 feets under the ground.