A place to loan isn't necessarily a bank. There are loaning services out there that aren't necessarily owned by the government nor the banks at all.
Those loaning services are the crappiest things ever invented by the human race toppling even toilets.
Huge interest, huge penalties and they work in almost every country at the limit of the law. Harassing late payers, doubling your sum if you were late even with a day promising something and charging you ten times more, hidden services, and many more.
If that is the alternative to banks, then let's hope banks will never disappear.
I think the bank will not have it because if it does, it will block some of the features of bitcoin, which limits the bitcoin. Many users will not use bitcoin anymore
A bank can't block bitcoin let alone its "features".
Uniquely, bitcoin will not make the banks disappear. Just the time will come when all banks will understand that without the use of crypto currency they can not exist, therefore they either adapt or close. Well it's obvious, because you need to adjust to progress. Of course, the cryptocurrency is changing the entire financial market.
I somehow agree on this. The telephone companies didn't disappear when the mobile phones took place about a decade ago, same as the USPS when emails took place in the 90s... I guess the banks would join the bandwagon once they realize that majority of people are patronizing it.
Why would the phone companies disappear when they were the ones selling mobile phones and providing coverage?
The easiest analogy is with the banks themselves.
They worked with gold coins, they worked with silver coins, they worked with cash , they worked with digital cash they can switch to crypto.
Banks have adapted to the economic reality for centuries, they are not going to disappear so easily.