Some dude asked me if Bitcoin could eliminate local banks, I thought of it,
I told him that no
From my own point of view, banks have alot to give more than just money transfers, they offer loans and mortgage, business banking services, costumer service and dispute resolution. So this banks are really doing a good job and I don't think they can be eliminated soon. Bitcoin is not widely used for dally payments yet, so volatile prices makes it difficult to use as a stable currency
I hope I made a good point there
As long as people want to control money, there will be banks, the Fed, and the ECB. Or as long as people want to be controlled and place their trust in fiat money, there will be banks. Only when the people maximum brave to own and trade a different currency will it be possible. But that is a very long way. There are many people who do not have this option. Or if they are brave enough to take it, they have a harder life. I think it will take a few more generations, and then we can think about it.