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
Your approach i think is very realistic. While Bitcoin offers a lot of freedom and decentralization, I don’t think it’s ready to knock out banks just yet. Banks are still needed for loans, payrolls, compliance, and all that formal financial structure that businesses and governments run on.
Bitcoin is powerful as a store of value and cross-border tool, but until the volatility reduces and adoption increases, it will keep playing more of a complementary role in the global financial system. I don't think there's a war between Bitcoin and banks, it's more like both serving different needs in the financial system.