Yes BITCOIN can make banks disappear due to its advantages which is fast and almost effortless transaction. Banks (which runs in fiat money). But it will still take time for it to happen.
Well I have to absolutely disagree with what you said. Banks don't get money for its transaction speeds, mainly banks get their money from lending the money out of their establishment which is also know as loaning as they earn an interest depending of what type of load did you get. And can Bitcoin wallets give you loans? even on little amounts? I guess not as they are only wallets which only hold your Bitcoin. That is why Banks will still be there as they can adapt through change and will always find a way to profit from anything. 
Topic: Can Bitcoin make Banks disappear? - page 97. (Read 427614 times)
Yes BITCOIN can make banks disappear due to its advantages which is fast and almost effortless transaction. Banks (which runs in fiat money). But it will still take time for it to happen.
In my opinion physical money itself wont vanished just like that in accordance to this so do the physical banks. Lets say there's possibility but not in the near future. Besides let's say bitcoin reach its peak it will open opportunities as well for other types of banks which as of the moment i think we have already, the crypto or bitcoin banks.So ergo, and what I'm trying to say is that normal banks that we have today will not vanished but instead will learn to adapt and evolve.
If bitcoin takes the attitude to form a physical bank into a competitor of a conventional bank, it is the same as a declaration of war. Right now bitcoin is true because it only uses virtual bank accounts, I also hope that peer to peer system technology is applied to the bank, at least it only needs to be accepted as a valid currency. Bitcoin is not a threat because it is an innovation that's not controlled by anyone.
Maybe we should take this the other way round by saying “can Bitcoin make other tech stocks disappear?”, which answer is probably to be YES. But for making banks disappear? No way! Even the bank won’t be adopting Bitcoin, unless they will be to regulate it. Bitcoin will stay on its own as a tech stock, and the best investment to make , while bank stays on its own too. 
We won't need to bank in 20 years later. In the future nobody use paper wallets.
Before 20 years ago, we didn't use banks. "We have to adapt to new things because time/times has changed."
Maybe before 20 years we might have not used banks, but right now we could have not reached or got to such a development if banking system has not existed in the world. They served as the base for the entire financial administration and the same has led to the growth, so banks won't get replaced in my opinion. Before 20 years ago, we didn't use banks. "We have to adapt to new things because time/times has changed."
Bitcoin cannot make banks to disappear. It has been there since the beginning of the society of man. We also need the monetary system that is being regulated by banks. There are services that banks can provide and Bitcoin can't. I love Bitcoin but I don't think there is a need to set aside banks and make it disappear.
it seems that bitcoin are getting more popular than before but it doesnt mean it will out-take banks. it never in the future happens that bitcoin can make banks disappear as people still dependent into fiat money. but if it will happen there will be no physical business in the street and no malls, all will be revolving into cyber-world, things are just to be deliver direct in to you home, also food. everything will be digital. (if banks will disappear)
Yes that will happen in the coming decades now some banks planning to adopt new crptos aside with thier system like ripple (XRP) more will follow XRP steps , but only difficultis deter that implementation is goverment rules .
We won't need to bank in 20 years later. In the future nobody use paper wallets.
Before 20 years ago, we didn't use banks. "We have to adapt to new things because time/times has changed."
Before 20 years ago, we didn't use banks. "We have to adapt to new things because time/times has changed."
I don't think this is the case and even if bitcoin gains ground and becomes a leading world currency, banks are still going to remain, Banks biggest advantage isn't just holding money, but interest given on money as a result of the bank investing it and giving part of profit to depositors, This is a basic component of today's finance, I don't think bitcoin will "cancel" banks, but perhaps "modify" them.
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?
it will not because, not all people knows about bitcoin and other legit investor will not agree to bitcoin because it is digital coin not same as real money to all bank that they know. "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?
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?
Perhaps the banks will disappear in their traditional form, but there will be systems that will replace Swift on the blockchain. Or Swift himself will turn to this technology.
Depending on the government attitude, if they continue to force KYC into all existing bitcoin business, I am sure that bitcoin will be able to stand alone in one of the countries that facilitate them as its center, many countries guarantee user safety including Switzerland, I think bitcoin will indeed threaten all conventional banks.
I think it's impossible to let banks disappear because many people are also depending on a bank and banks are too strong to lose, but we don't know what happens in the future given bitcoin growth over time more and more people using bitcoin.
If after a century, when the era cryptocurrency and Blockchain technology or digital currency can replace paper money and banking system, I think in that time Bitcoin or other crypto will make banks disappear 
And after a century maybe you will realize that BTC is a currency , the blockchain a protocol and neither of these can give you a loan for your business.
And at that moment you realize why banks will still be around even in a century and a millennia.
Yes the Bitcoin is unstable currency, and it has huge fluctuation in the price. And why the banks will support this Bitcoin if they support bitcoins then all fiat transaction will stop, and people start to transact with bitcoins. This is a big loss for Banks. So suppose if the govt accept this Bitcoin as legal currency I thin the banks will oppose.
In 2012 everyone here would considered you stupid for putting your bitcoins inan online wallet.
Now , 90% have their coins in such wallets.
In case you haven't yet understand, those are nothing else but banks and BTC keeps on multiplying them.
I think it's impossible to let banks disappear because many people are also depending on a bank and banks are too strong to lose, but we don't know what happens in the future given bitcoin growth over time more and more people using bitcoin.
If after a century, when the era cryptocurrency and Blockchain technology or digital currency can replace paper money and banking system, I think in that time Bitcoin or other crypto will make banks disappear And after a century maybe you will realize that BTC is a currency , the blockchain a protocol and neither of these can give you a loan for your business.
And at that moment you realize why banks will still be around even in a century and a millennia.
Yes the Bitcoin is unstable currency, and it has huge fluctuation in the price. And why the banks will support this Bitcoin if they support bitcoins then all fiat transaction will stop, and people start to transact with bitcoins. This is a big loss for Banks. So suppose if the govt accept this Bitcoin as legal currency I thin the banks will oppose.
In 2012 everyone here would considered you stupid for putting your bitcoins inan online wallet.
Now , 90% have their coins in such wallets.
In case you haven't yet understand, those are nothing else but banks and BTC keeps on multiplying them.
I think this will never happen, we all know that banks are fully supported by the state, the presence of bitcoin will never make the bank disappear because until now there has been no official state using bitcoin.
- I think sooner or later, the governments of countries around the world will officially use bitcoin because Bitcoin is gradually popular, many people use it, the impact of bitcoin on the economy is enormous, the government will bring it into use to improve the economy- And really, it would not make banks disappear, it will help banks develop more in the field of digital currency, the bank will also support bitcoin popular and more widely used, this is a modern trend in the future
I think this will never happen, we all know that banks are fully supported by the state, the presence of bitcoin will never make the bank disappear because until now there has been no official state using bitcoin.
- I think sooner or later, the governments of countries around the world will officially use bitcoin because Bitcoin is gradually popular, many people use it, the impact of bitcoin on the economy is enormous, the government will bring it into use to improve the economy- And really, it would not make banks disappear, it will help banks develop more in the field of digital currency, the bank will also support bitcoin popular and more widely used, this is a modern trend in the future
I think this will never happen, we all know that banks are fully supported by the state, the presence of bitcoin will never make the bank disappear because until now there has been no official state using bitcoin.
- I think sooner or later, the governments of countries around the world will officially use bitcoin because Bitcoin is gradually popular, many people use it, the impact of bitcoin on the economy is enormous, the government will bring it into use to improve the economy- And really, it would not make banks disappear, it will help banks develop more in the field of digital currency, the bank will also support bitcoin popular and more widely used, this is a modern trend in the future
Now We're probably going to need some very different ways for Bitcoin and will probably reach a very end in terms of no currency itself or nothing at all.
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?
Perhaps the banks will disappear in their traditional form, but there will be systems that will replace Swift on the blockchain. Or Swift himself will turn to this technology.
Jump to: