Exactly! This is the very principle of bitcoin--decentralization, and decentralization gives the power over their finances to the people. This is the main reason why banks are largely opposing the worldwide acceptance of bitcoin. Their existence is greatly endangered. But I doubt that banks will be totally annihilated. As long as fiat currencies exist, banks will always be there, and I don't think that fiat currencies will be totally out of the picture. Just like gold and silver which were not totally annihilated when fiat currencies came, the latter will also be still in circulation, but may not necessarily the main mode of payment. Anyway, bitcoin is not just a new specie to watch with interest nowadays. It's really "something" that poses a real, big threat on banks, "something" that might define and determine the future of our financial-market landscape.