See such a thing right now seems to be very unrealistic and hypothetical if we think about it.
But what I think is such a thing can happen that banks are used less than bitcoins.
But for that bitcoin trading will have to be much more efficient than now.
What I mean to say is that transactions should confirm fast and also transaction fees should be reduced.
But I don't think such a thing would happen at least till 4-5 decades from now.
Topic: Can Bitcoin make Banks disappear? - page 138. (Read 427614 times)
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?
"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?
maybe no, maybe yes. due to its high value in the market it is possible also that it can close the banks out there, we can safely deposit our earning thru our digital wallet, just make sure that we do all those securities to secure our coins.
Banks will always find some service to provide that else will want to buy.
That is very likely. Banks are just businesses, they need costumers in order for them to continue their services. And since the banks assists the government and the government support banks, banking will never disappear because the government will not allow such happenings. Also, the government trusts the banks more rather than bitcoin.
I think the answer is reasonable, with government interference in the bank. Then the bank will always have the support of the government, the opposite applies. Bank gives the advantage to the government, in contrast with bitcoin unfavorable to the government. Thank you
Banks will always find some service to provide that else will want to buy.
That is very likely. Banks are just businesses, they need costumers in order for them to continue their services. And since the banks assists the government and the government support banks, banking will never disappear because the government will not allow such happenings. Also, the government trusts the banks more rather than bitcoin.
Bankers may disappear and the banks,but the world banking will never ever disappear.Bitcoins has no match in banks in this days and even in the future.Banks are runned by government.There are still lot of things bitcoins must have pass to make banks disappear.Or bitcoins and banks may work together
if that possible maybe its much better if banks will embrace the idea of bitcoin so the fee for their system would be lesser, if all people all around the globe will agree with this system(bitcoin) its very helpful with fast and lesser cost just needed to be more secured.
Bankers may disappear and the banks,but the world banking will never ever disappear.Bitcoins has no match in banks in this days and even in the future.Banks are runned by government.There are still lot of things bitcoins must have pass to make banks disappear.Or bitcoins and banks may work together
Banks will always find some service to provide that else will want to buy.
they always have a promo to create a user or person interested in joining. and I think the support from the government and Fiat will make banks continue to live, and will not likely disappear This is a complicated question. The reason why banks exist is because they can do credit creation (by issuing loans.) This enables a bank to lend out more “money” than reserves (at the central bank and other assets.) Bitcoin is like “gold” and if it becomes more common in everyday transactions it would mean that banks would have to build up bitcoin reserves, in case they start having accounts denominated in bitcoin. This in turn enforces central banks to hold bitcoin in case banks have to be bailed out (if bitcoin becomes very common.)
However, in parallel there’s more development happening around the bitcoin network. Although the bitcoin network cannot handle much transaction volumes, there’s work that enables decentralised high speed transactions using the bitcoin network as a settlement layer. These technologies are named lightning network, lumino, sidechains, etc. This enables high capacity transfers completely outside the banking network. If peer-to-peer lending networks enables alternative ways of people getting loans, then the need for banks may almost diminish. At least how we view “banks” today, i.e. credit creation. These institutions will of course not disappear but transform into something else. Perhaps into something like investment funds.
Banks are just going to adapt if bitcoin becomes king, it is very likely that you will find a way to pull their trick on bitcoin the same way they do in fiat and then they will keep doing what they do best stealing people’s wealth by providing a service no one really needs.However, in parallel there’s more development happening around the bitcoin network. Although the bitcoin network cannot handle much transaction volumes, there’s work that enables decentralised high speed transactions using the bitcoin network as a settlement layer. These technologies are named lightning network, lumino, sidechains, etc. This enables high capacity transfers completely outside the banking network. If peer-to-peer lending networks enables alternative ways of people getting loans, then the need for banks may almost diminish. At least how we view “banks” today, i.e. credit creation. These institutions will of course not disappear but transform into something else. Perhaps into something like investment funds.
Bitterly Truth, we can now monitored and control our money so why bother ourselves in engaging in banks and other banks activities. Our bitcoin wallet have features that are useful like banks and having low transaction fees are much more better than in banks.
They are blind and ignorant because fiat still supplies everything they need, they are confortable with this situation, it's normal. Currently the most people that are using BTCs are doing this because they need extra sources of money and Bitcoin is a good one. Maybe there are other people needing money also, but for any reason they don't trust Bitcoin or they think it's a dangerous currency/scheme. To say the truth I tought this before start using BTCs.
i think can because bitcoin more easier than bank , can transfer money without we'll go to the bank .. save our money in wallet this is very easy 
No, people aren't going to believe in bitcoin's power to make the banks disappear. And besides they aren't going to allow this to happen. We know that banks can't be flopped that easy. And banks have a backed up power from the state so I don't think this is very possible to happen.
Yup banks are the most powerful institution that we have and it will not be easy for bitcoin to make banks disappear as bitcoin is too small and not that powerful in compare to banks and even bitcoin lacks support from the Government.
And I'm thinking if ever banks see that bitcoin can be a threat to their system they can suggest that to the government to help them out. Bust those people that are supporting bitcoin and maybe ban it for the security of their institution and service. But good thing in my country, they are aware about bitcoin but they don't ban it.
Banks will always find some service to provide that else will want to buy.
Bitcoin cannot make bank disappear due to the fact that transactions in banks differs from transferring of funds using bitcoins, A lot of transactions aside deposit and withdrawal of funds takes place in banks, bitcoins can only be sent and receive globally.
although there are always possibilities to happen that but i do not think that it is possible in near future. my be after decades whe all the people will start using bitcoin then it will becom possible 
Bitcoin cannot make bank disappear due to the fact that transactions in banks differs from transferring of funds using bitcoins, A lot of transactions aside deposit and withdrawal of funds takes place in banks, bitcoins can only be sent and receive globally.
No, bitcoin can't disappear banks because banks is more useful than bitcoin for example in online purchases banks can process the transaction fast with low fee unlike bitcoin you have to pay the high miner fee in order to prioritize your transaction and wait for a block to confirm your transaction.
Also the government is controlling the banks, they have support from the government and the society. In my own opinion
Also the government is controlling the banks, they have support from the government and the society. In my own opinion
Banks, one of its purpose is to support the economy of a certain country. It invests (let us say 70%) its available funds to a company or have it loaned to farmers or whatever. With this, the bank directly helps the country as a whole. It supports the economic development of a country that is why banks will stay no matter what. The speed of transactions or having low fees does not concerns the existence of bank, its purpose and role is the main concern. Also, the government will never let banks disappear because of bitcoin. Even though bitcoin surpasses fiat (a big IF and seems unlikely), the government will create a bitcoin bank. And banks still exist.
For me, I think that the banks will not disappear. They may be developed further, change the way of the actual existence but I think that will survive. Always will be need for money in big plans or projects, or even in various situations of everyone of us.
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 don't think banks will disappear; at least not at this rate. "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?
Obviously not. It can never replace banks . Bitcoin has just emerged few years back and most of the people don't even know about bitcoin. And when it comes to banks people will never stop using banks unless there's some better alternative.
And bitcoin can never be that alternative as there are many flaws of bitcoin.
One of the main thing is that the conformation time bitcoin takes.
And bitcoin can never be that alternative as there are many flaws of bitcoin.
One of the main thing is that the conformation time bitcoin takes.
no, because there will always be those scared average joe, that will rely on the bank, no matter what new tech you have, you need plenty of new generation to remove those people
it's the same as right now there are still people that refuse to use credit card or new services...
it's the same as right now there are still people that refuse to use credit card or new services...
That's right but eventually, one day it can make the banks disappear as the new generation takes over.
If you have been invested in Bitcoin from at least 2013, it's easy to distinguish who some of the trolls are. Mr Troll: Never use the word "dude" when trying to spread disinformation. What a joke.
i think can because bitcoin more easier than bank , can transfer money without we'll go to the bank .. save our money in wallet this is very easy
I don't think that bitcoin will make banks dissapear. Bitcoin has been present here in our planet since 2009 and still not introduced to the whole world even with it's inovative features. Bitcoin is a decentralized digital currency, and it is a good cureency versus real money, but bitcoin still has its flaws to become a primary currency of one country and it cant make banks dissapear. When banks dissapear, that means the fiats also are.
Bitcoin can't make banks to disappear. Financial market in the world is still very conservative and banks are among the basic stakeholders in it. Many of us would like this to change but this is the way how it is. But bitcoin can make banks to change their attitude, at least in some way.
i think can because bitcoin more easier than bank , can transfer money without we'll go to the bank .. save our money in wallet this is very easy
No, people aren't going to believe in bitcoin's power to make the banks disappear. And besides they aren't going to allow this to happen. We know that banks can't be flopped that easy. And banks have a backed up power from the state so I don't think this is very possible to happen.
Yup banks are the most powerful institution that we have and it will not be easy for bitcoin to make banks disappear as bitcoin is too small and not that powerful in compare to banks and even bitcoin lacks support from the Government.
But we don't want that bitcoin should replace banks as both of them have their own unique features and even being a user of bitcoin I also feel that I need banks for my daily transactions as I cannot do everything with bitcoin at a moment as I need fiat for my expenses and that I can get only from the banks.
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