Some dude asked me if Bitcoin could eliminate local banks, I thought of it,
I told him that no
Then you are very correct!
Bitcoin is a very lovely asset with a never-before-seen track record, but at the same time, it is being hyped more than necessary. That is why someone will sit down and begin writing that it will outdate the traditional banking system, how? The banking system is incomparably larger than Bitcoin and hugely sustains the global economy, unlike Bitcoin. Bitcoin should rather be viewed as an asset, which is not the same as the banking system, which is typically part of the world economy itself.
To date, everyone still depends on banks/fiat for spending their earned proceeds from Bitcoin. It will remain like that because the world will not accept Bitcoin as a legal tender, but as an Asset, and possibly a Reserve. And even the 21 million total supply can't make that (shortchanging for bank) possible.