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
I actually feel that if we look at the technical aspects, Bitcoin has many advantages that could rival banks, such as decentralization which can make it censorship-resistant, global transactions that are very possible to be done without intermediaries, and with a layer-2 system like the lighting network, the use of fees and speed in the transfer process also makes it more efficient, so that's why in my opinion, yes, this is also my analysis of its development if it is widely adopted, it is very possible that Bitcoin will replace the basic function of banks as a store and sender of value, but this is only my argument and analysis