Obviously bitcoin will never replace the banks even though it may takes some years or decades, the bitcoin will not replace banks no matter what happen. Bitcoin will be forever an alternative and second to the banks because at the end of the day, the government and the people will still support banks not bitcoin though there may be some people who will support bitcoin but still the majority will be on banks. Bitcoin is an alternative way of money but doesn't means has the chance to replace the bank.

Bitcoin is a currency/asset.The banks are financial institutions/companies.
We all know the "be your own bank" slogan,but Bitcoin isn't supposed to "replace" the banks.
The banks can only be replaced by other financial institutions/companies.
The correct statements would have been "Crypto exchanges cannot replace banks" or "Crypto wallet companies cannot replace banks".

We can easily gauge the support by checking how many laws that are there to protect banks compared to cryptocurrency that was made within 10 years to make the fight fair. I once believed that bitcoin will be able to replace the banks because there were a lot of people that associates bitcoin with being your own bank but right now, I have doubts that it can be possible. One example is when fiat is lost in any way, banks can just replace the missing notes by printing but in the case of lost bitcoins, there is no possibility of reprint or reproduction.

To be honest, Bitcoin cannot replace banks, why? Because Bitcoin is a currency destined to be mainstream of payment while banks is an institution. However, the banks can work with crypto if they choose to but I believe the independent level of crypto making people to be their own bank is the reason why some people compare Bitcoin with banks.

@Financialtimes that compare Bitcoin and banks don't understand the concept of Bitcoin they are just aware of the traffic Bitcoin gained lately.

Yes bitcoin can replace banks,but  in my opinion not nearly it will take some time,and yes not long time, because Bitcoin creating hype day by day,and bitcoin popularity growing, rapidly,and may be Bitcoin can lead evan dollar,yes but again i say it will take time,and because regarding Bitcoin are many news are comming day by day.and world famous and biggest companies are taking interest in bitcoin.so ofcource Bitcoin can replace the banks and bitcoin can .

I agree with you. While cryptos do make banks unnecessary, they can still be useful and very important for many people and for some specific purposes. For instance, some people just don't feel comfortable being responsible for keeping their funds safe. They want the banks to be responsible and to store the money for them. So cryptos are not going to be attractive for such people, and even if cryptos go mainstream, these people would probably want crypto banks to manage and store their cryptos as well. Apart from storing, there's also this feeling of legitimacy which having money on a bank account does, and having cryptos or just storing cash under the bed to not.

In my opinion, the global financial system is so structured and managed that it cannot be replaced. Banks and the people governments behind them simply cannot afford to give the power and control they have by running banking institutions to freely and transparently managed systems such as cryptocurrencies.

Of course, bitcoin and other decentralized cryptocurrencies cannot and cannot replace the banking system. Banks perform more diverse functions than cryptocurrencies. In addition, banks are protected by the state, and they will not allow banks to disappear for any reason.

Have been thinking about thesame questions for the past few months bitcoin started pumping and have been asking myself if bitcoin or other cryptocurrency can replace the function of bank but from my own research I think that will not be possible the only thing that I believe that will happen is that the bank can work with bitcoin but I believe the government will never allow bitcoin to replace bank or other cryptocurrency to replace bank. And even individual problem can also cause it not everyone knows much about cryptocurrency or bitcoin some people believe bitcoin is all a scam and they don't really believe in it so people like this will definitely prefer to make use of bank than bitcoin.

Yes bitcoin can never be replaced by banks because bitcoin is not in circulation in most countries of the world it has not yet become legal in many countries and people in many countries are ignorant about its use bank can't use it even if it replaces it. Central banks can raise or lower interest rates and create or destroy money every action has a response decreasing the amount of conventional money can lead to lower prices, making it more difficult for businesses to borrow money central banks may also be involved in additional efforts to manipulate the economy it is not possible for bitcoin to be stolen and there will be no government intervention.