How is that possible? Local banks will not disappear because of Bitcoin, as banks are already too powerful under government supervision, so they have become a part of everyday life for many people in any country, meaning that banks cannot be replaced.
People hope that Bitcoin can replace banks, but that will never happen, even if you hate it, as there are still many countries that do not accept Bitcoin as a means of payment, making it difficult to eliminate banks.
Exactly. Bitcoin is just a single currency, while banks can offer different centralized currencies if you ask for it. So there’s no way that bitcoin will replace the position of banks, as banks have been here already before bitcoin has come to its existence. And the fact that it’s strongly backed up by the government, the more that bitcoin cannot eliminate banks.
Bitcoin and banks offer different services to the people, so they need to co-exist with one another, and not that bitcoin will eventually replace the local banks because that’s actually very impossible to happen.