Banks exist because there has always been strong market demand for a trusted third party to offload the responsibility of securing wealth to.

Granted, over the course of our history banks have misbehaved when given this responsibility. Fractional reserve banking is probably the most egregious example of misbehavior.

But this demand for a trusted third party won't go away. Most people don't want to assume the responsibility of securing their wealth themselves. They want to offload that responsibility.

#Bitcoin won't kill the banks, but we can use it to force them to behave better.