Topic: Can Bitcoin make Banks disappear? - page 14. (Read 427612 times)
Personally and my views are that, I don't think banks will disappear at all, but surely they will work in tandem with Crypto Currencies, accepting FIAT and Cryptos at the same time, and offer currency exchanges between them with respective rates. Crypto Currencies have a long way to go and many obstacles to overcome but in the end they will surely take the market by storm.
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, Because investor or the other people that involves in bitcoin would not cash out because other people withdraw their salary or profit by banks and the I think all banks can manage or put a bitcoin in their system. Many banks approve bitcoin because many people get their money or make their money using bitcoin. "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?
well, in my opinion, bank will not disappear, but surely they will change. With bitcoin now become questionable whether it be accepted or not in world's economic as a daily transaction tool, I think bitcoin will change how the bank would works with currency, but not eliminate them.
I think its not possible, the bank are way to powerful and they will never let this happen ever, they bank is also hating the bitcoin so they will never happen for that reason too.
Although its not impossible of course but if it can happen it will still take year before this is even possible.
Although its not impossible of course but if it can happen it will still take year before this is even possible.
In future, when bitcoin will dominate in sending - receiving - depositing funds kind of bank works, I believe banks will start different type of banking like providing safe vault or mortgage kind of services alone. Banks will fall.
I certainly don't agree that banks will disappear because of bitcoin... I think bank will never disappear because of bitcoin but it may simply incorporate bitcoin to its current banking system, refining its banking processes while incorporating bitcoin and improving more the security in using bitcoin. Banks had already existed since the ancient times and it will remain in the future filling out the gap in which bitcoin could never support.
im sure it can...but it will take a long time to make bank dissapear...
but make sure that all people know what is btc...in my country just a less people know bitcoin...
I don't think bitcoin can make the bank disappear. The reason is very simple that in the world there are many countries and not in any country where the technology flourishes as in the US and Japan ... so the bank is still the first choice of all. for their convenience. we can withdraw money on ATM stations are placed a lot of places. But if you move from the coin altcoins cashier then you take a lot of time. This is the reason why the bank is always strong. but make sure that all people know what is btc...in my country just a less people know bitcoin...
I personally think that banks will stay for good. Banks have services that bitcoin cannot offer and vice versa. And in my opinion, banks will offer bitcoins in the future.
Banks will never disappear. Who wants to lose billions?
I think it will be possible if the conventional money will disappear and the world will prioritize digital currency. But since not all people today don't have the access or knowledge about cryptocurrencies like Bitcoin. It will be impossible out of this moment. But maybe in the future banks will also be part of cryptocurrency as they will be a third party in the transaction and will also serve as an offline exchange.
i do not think banks will disappear anytime soon. Bank will remain the crucial part in any societies.
there are many people need to go to the banks and the banks have some benefits that bitcoins do not have and will go for online trade in such scenario there will be use of such traditional banks and they will be disappear.
I don't think banks will ever go away or dissapear.
They can evolve and make it to where you don't need physical money
But it will still be the same, you will still need a bank account
They can evolve and make it to where you don't need physical money
But it will still be the same, you will still need a bank account
Well agree with you, it won't disappear people are always tend to rely on bank as their money storage for a long time and not just money storing also acknowledge the other services of bank like loans. Rather, we can edit the phrase "Bitcoin will disappear bank" to "All bank Adapt Bitcoin in any ways"
Perhaps the trend is that Banks should support bitcoin development. After all, cryptocurrency has proved to be a cost-effective way of transferring money or sending money.
Bitcoin can not make a bank disappear. A bank is where a country controls and regulates state finances. Bitcoin is a digital transaction and the state does not allow a digital transaction to replace a bank that can be controlled.
As far as I know Bitcoin has no magic powers yet, so it is very unlikely that it has any chances to make banks disappear. You'd better ask David Copperfield for that 
It is possible but it takes many years and decades to come up to make banks disappear because there is a lot of people deposits their saving and some government agencies produce money that is used in transactions.
Until there will be very high demand for cryptocurrencies, the government may finally adopt or create their own cryptocurrencies that are founded and transacted in blockchain technology. It is the people's demand and uses that will be the deciding factor in the future.
Government will always make a way if it will become underdog. Banks will never go away i think. They can integrate their system with cryptocurrencies or the government can ban it. People cannot rival government.
I don't think so. If banks will disappear, it will happen because they crumble by themselves, being they based on nothing. Bitcoin has no way to jeopardize the banks' existence.
It can never happen as it will cause chaos. Bitcoin can not make banks disappear at all. Although bitcoin has alot of attributes as many as decentralized and fast transactions etc. One cannot say particularly that bitcoin could make banks disappear and totally dominate the banking sector as a results of closed banks.
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