Re: Can Bitcoin make Banks disappear?

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?

I read a quote saying Bitcoin will do to banking industry what emails did to the postal industry.
In the past banks have playes significant role in financing in loans to the public. As gold and silver have been replaced with fiat currency,the banks have reached an almost omnipotent position.
More likely that governments will co-opt crypto and begin issuing their fiat money as a crypto.

The fact that there are some countries that are already open to integrating blockchain is a clear indication that bitcoin is a no joke and indeed a very good investment to have.

Bitcoin is a big threat to the normal banks in today's time because if people get to know that with bitcoin they can fully control their money and spend it whenever and where ever they want unlike banks which do no give any control over our deposited money.Moreover banks may create restrictions and limitations that prevents the person from using his own money.Once more people start feeling this difference, they will start abandoning banks and will use more of thr cryptocurrencies like bitcoin and other altcoins.No taxes can be imposed on them therefore people will use more of the crptocurrencies.

I agree with you that bitcoin is a big thread for banks because banks know they will lose their clients to bitcoin if they know the reality and if they know they can control their own money this easily maybe in the future it could make banks disappear but that only happens when almost 90% uses this.