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
Assuming I was asked this question my answer will be no, Bitcoin can't eliminate the bank but the cryptocurrency industry can eliminate the banks because it doesn't matter what the banks think they're doing, we can have a cryptocurrency project that'll do it better than the banks hence we shouldn't be relying on the banks anymore. Banks are centralized and they're making things hard for people instead of making things easier. It isn't easy to get a loan with banks because they'll need collateral and also to do some verification that isn't easy for the avaenge people to get but with cryptocurrency, only owning a Bitcoin can give you access to loans with your Bitcoin as collateral, some platforms take other cryptocurrency that isn't Bitcoin and this makes it easier to get loans.