I could see a scenario where Bitcoin survives and banks have to actually adapt to it. Banks could provide customers a service of converting Bitcoins to fiat and vice versa for its customers. They could even set up secure Bitcoin wallets for customers that are not tech savvy enough to feel comfortable doing it themselves. The banks could charge small fees for these services and embrace this technology.

Banks could even issue Bitcoin credit cards to get in on that part of the Bitcoin economy as well. They really could use Bitcoin in their banking practices rather than fighting it. Just like the internet a few years ago, Bitcoin may be one of those things that you can't stop but you just have to jump on board and use it to your advantage.  Any bank that does this first could be on the cutting edge of this technology.

Bitcoin heralds a new age more disruptive than that of today’s Internet. Disruption can be a good thing, especially when it affects banking, a failing set of business models which, for all the tweaks, have been virtually unchanged for millennia. Paradoxically, some banks are afraid of Bitcoin because it would force them to innovate.

Bankers sooner or later are going to accept that Bitcoin is a currency just like the others. They don't like it because Bitcoin is out of their control. I dont think Bitcoin is fully decentralized because if you think about it, miners do have some power over Bitcoin.

i disagree with the Poll. i believe banks will never be obsolete. they are old systems that have been offering services (good and very useful services) to people for money. and their services for money will always be needed one way or another. we can not deny that.

but the thing is that these banks need to change and update themselves to the new world and new technologies of this new age. so far they are threatened that their business and their earning is going to diminish because of bitcoin and blockchain technology. but soon they will realize it is inevitable and they need to adopt instead of fighting it because that is a battle they are not going to win.

Obviously because people who have knowledge about bitcoin tend to use bitcoins more than real money. Instead of investing money in banks, people invest in bitcoins. Banks earn from people who invest in their companies and when people choose bitcoins over banks, the bank is not profiting.

You should consider their side of this, to understand where they are coming from.

For many years they were in a position of power. They could selectively chose, who they want to allow into their little private club. If you were poor and they could not exploit you, you were pushed out of the banking system. May 17, 2016 - Although 700 million people have signed up for a bank account since 2011, about two billion worldwide remain unbanked.

Bitcoin is a huge threat to them, because people can make transactions, without using any banking services. People do not have to use ATM's to withdraw cash or transfer cash through online banking systems. You pay no monthly fees to have a bank account or pay extra for services they charge you.

The banks hate Bitcoin and you see this in the desperate statements that are being made lately. ^smile^

Bitcoin will free you from these fraudsters and exploiters who gets bonuses when they commit fraud.

I voted 20 years because it was the longest amount of time, but I would rather have voted that banks would never be obsolete also, or at least it would take a much longer period of time for them to be obsolete.

And I agree that if banks want to survive, they need to embrace this new technology and provide cryptocurrency services for their customers. They could use this to gain customers and be out in front of this technology. Instead of fighting Bitcoin, they should figure out how to be part of the movement or they may get left behind.

I think Bitcoin will be around forever even if it becomes an underground currency. I think that won't happen but that is probably the worse case scenario.

May be you are right somehow but I think bitcoin is decentralized and uncontrollable cryptocurrency because up till to date no any complaint has been noted by shareholders regarding decentralization of bitcoin. Bitcoin is a big threat for Banks and bankers and bankers will keep continue this war with bitcoin in future.

Mostly people are fed up of banks dealing and bitcoin is the best substitute to resolve the people issues, as they have with banks.

I think you'd have in the poll the option never.

The bank system is as old as the mankind.
You cant fight it in a few years, you need much more time