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
It can't, and probably never will.
Because local banks are a product of a country, and fiat is a legal tender or means of payment in every country, it's impossible for Bitcoin to eliminate local banks; in fact, the two will continue to coexist.
Bitcoin was created to address the massive problems of banking, which is rife with crime. Bitcoin exists as an alternative for everyone who realizes that fiat is a trick the elite continually create. While the technology offered by Bitcoin is indeed superior to other assets, especially fiat, we know that every country has its own currency. Using Bitcoin as a currency would be tantamount to violating its own laws. Therefore, in my opinion, Bitcoin will remain an asset for investment, not a tool to defeat banks, even though the banking system is very corrupt.