And bitcoin has faster transactions than the bank and more secure I guess.
Neh, you're wrong. IMO, bitcoins aren't that secured as compared to bank. Bitcoins, if ever hacked, you loose 'em forever but it isn't the case with the banks.
Banks are more vulnerable when it comes to identity theft as opposed to actually losing their funds, as we haven't seen many hacks of banks that have resulted in stolen funds. Typically it is just account info.
While Bitcoin's lack of chargebacks protects business owners, it can also harm users for the same reason.