Topic: Can Bitcoin make Banks disappear? (Read 427618 times)

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A BIG NO..because other people dont believe in bitcoin... because its not the nature of money they use to... banks will be always there because people who believe or store money there is always there...

I think banks will not disappear because of bitcoin. Because where we can widraw our bitcoins if there's no bank. we can transfer bitcoin but for now many countries uses their own currency like my country so i need to widraw bitcoin and exchange it to our currency. Maybe if your country or all countries will use bitcoin as the new currency the banks will find other ways so that they will remain

Banks won't disappear. They will just change over the time but it will not change the fact that there are still a lot of people who don't know about the world of bitcoin yet and they are also depending on banks for multi-purposes.

It may other bank disappear but not all theres other banks can compet to the banks comeout now all other bank who was compete now they find other way to be part of the popular currencies that also comeout in my country there are banks that accept bitcoin but not like other digital banks do so for now they improve how blackchain works.

Banks will change or go under but they won't go away. But it will change and tranform to accept bitcoin or there will be special bank to store bitcoin. Slowly and hopefully this will become a more common thing. Bitcoin as a threat and they're willing to do anything to wipe bitcoin out.

Yes this is such a very good time to invest in Bitcoin cause we cannot deny the fact that anytime soon, its price will be better than what it is right now we should be aware that Bitcoin's volatility helps this platform to improve itself. It was few years ago since the time that we are supposed to be investing here, not only profit but the time and effort that we are should giving here to earn .

Banks will never let go but they can adjust or upgrade their system. They can adjust to our cryptoworld they will accept it as a currency but they will never let go.

It cant happen because bank is available to help people in economic, I think bank wont dissapear but it will change and tranform to accept bitcoin or there will be special bank to store bitcoin. And its already happen when we look project bounty who have a lot investment or banking for cryptocurrency

In the world practice, it is still impossible to trace a clear direction towards the legalization or prohibition of the crypto currency. Therefore, I think that in the near future banks should not be afraid of bitcoin

Personally, i think Bitcoin will be one of currencies is accept to exchange under legal, under goverment as Usd, Uero, ...

To the title of the topic: Of course, bitcoin is able to make the banks disappear! After all, the idea of bitcoin is very strong, in fact, it is designed to exclude the intermediary (banks) in the transfer between people!

Banks are not a perfect system, and bitcoins will be an excellent alternative. There will be only special vaults for valuables, the rest of the financial activities will be carried out in the computer or

Yes , bank can adopt the blockchain technology but it doesn't mean they will adopt Bitcoin also, actually they list Bitcoin as a threat and they're willing to do anything to wipe Bitcoin out.

The probability of this is very high. When bitcoin functionality is fully adopted in all countries and cities, then banks will simply not be needed. Everything will be concentrated in your phone and computer.

No, banks will not disappear but cryptocurrency(not necessarily bitcoin) will coexist together. I believe they will both adopt for the existence of one another and so are the government and the people.
We may want not to use fiat but I believe that we will never be able to make fiat disappear  but like banks it will coexist with cryptocurrency. Each and everything will serve it's own purpose to make people life better.

So far banks are working together, wanted or not. We buy crypto sending money from the banks to exchanges and so on. Slowly and hopefully this will become a more common thing.
There is also the risks of banks to dissapear.

Banks will not disappear, banks will just have to innovate or re invent themselves to integrate Bitcoin in the future if it will be accepted more widely and legally. They cannot disappear, they will continue to provide services to people, whether their clients needs it in fiat or in Bitcoin.

I don't think the bank will disappear. People still need legal tender, and bitcoin cannot replace fiat money. The bank has the support of the state, it will not disappear easily.

It's never a bad time to send and receive Bitcoin, but now the translations are even cheaper. The tariffs are at their lowest level in 18 months, while the average cost of the transaction is now below the dollar. This contrasts sharply with the last quarter of last year, when the growth of fees peaked at $ 34. Is the main reason why the charges are reduced since then: with Bitcoins, which are too expensive to send, people just stopped using it as currency.

Bitcoin fees

It is not just the market USD / BTC, which ranges: Bitcoin market is paying for the suit. Due to various factors: the use of the network before the Segwit and hashrate, fees may rise significantly and dramatically fall. During 2017 this trajectory was largely upward, which led to the fact that the December charges become unworkable. Since then, the fee for the transaction with humor decreased, reaching a 18-month low of February 21, but considering that the daily volume of transactions fell by half over the same period, it is not surprising. Now the standard transaction with the six blocks can be skipped just 15 cents. Bitinfocharts calculates an average fee of 52 cents against slightly more than 1 cent per Bitcoin cache.

However, this reduction of transaction fees will not be felt by all users of Bitcoin. Anyone who goes to the stock exchange, will continue to receive the standard fee. For example, Binance Kucoin and establish a flat rate 0,001 BTC or about 10.60 US dollars at current prices. As noted in a recent tweet CEO Binance Chanpen Zhao, at stock exchanges have the ability to charge for the base rate for the service they provide. Can they justify charging more than $ 10, but it is a matter for discussion.

Why low taxes?

High transaction fees may have helped push the "storage goods", which was popularized in the bitcoin last year. Cryptocurrency sealed, which was too expensive to send in small amounts, there was little choice but to wait for the BTC will appreciate the value. Rising fees have been one of the triggers for a number of companies that have ceased to accept bitcoin, including Stripe, and, ironically, the North American conference bitcoins. Steam also stopped accepting bitcoin in December, citing "high fees and volatility." The disappointment came because the fee was very high for users bitcoins network.

Members and exchange tried to find ways to make transactions more efficient, as amended, including joint transaction and adoption Segwit. Minor charges also contributed to a more rapid tests Lightning network, although its adoption is still too low to affect the current fees Bitcoin. Evidence shows that the biggest driver in reducing the board was not technical but sociological: December 17 sent nearly half a million transactions Bitcoin. This figure is now less than 200 000 per day.

With the current fees when they became the lowest in 18 months, it will be interesting to know whether to resume retailers such as Valve, support kriptokonversy or will wait a certain stability. A number of companies have previously said about alternative cryptocurrency, and Stripe mentions litecoin, Stellar and Bitcoin Cash.

Bitcoin real test will come when people will resume cryptocurrency use as a medium of exchange, and the units will be filled again.

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