Banks were supposed to be frightened of Bitcoin

[SOAD]

Bitcoin is a threat to them for sure but I don't think they have to be worried yet as it's going to take quite some time before bitcoin starts to eat into their profits but I hope its sooner rather than later. I think people are always going to need banks though but bitcoin will likely flourish in parts of the world where people do not have access to a bank.

[Xenoph0bia]

Bitcoin is a threat to them for sure but I don't think they have to be worried yet as it's going to take quite some time before bitcoin starts to eat into their profits but I hope its sooner rather than later. I think people are always going to need banks though but bitcoin will likely flourish in parts of the world where people do not have access to a bank.

Yes it is a blessing for those who don't have bank accounts, it would surely attract them towards bitcoins, and as of today we even don't need credit cards for online purchases as bitcoin is taking care of that too, so it would surely affect the business of banks.

[MF Doom]

Bitcoin is a threat to them for sure but I don't think they have to be worried yet as it's going to take quite some time before bitcoin starts to eat into their profits but I hope its sooner rather than later. I think people are always going to need banks though but bitcoin will likely flourish in parts of the world where people do not have access to a bank.

I think its eating more into the payment processors profits than banks (paypal, visa, etc).  Plus the user base is SO small compared to those using traditional banks, I think they are relatively un-alarmed, but its definitely on their radar.

I dont expect banks to really try and attack btc until the userbase grows tremendously, and if they really wanted to attack btc, they could do so easily and severely, they have more than enough resources to do so

[Falconer]

It is more likely that Central bank will one day issue digital currency of their own, based on the fact that metal coins are expensive to manufacture (often costing more than their face value).

How about the bitcoin mining then? Are the electricity and anything that be needed in mining more expensive than bitcoin itself?

Bitcoin is a threat to them for sure but I don't think they have to be worried yet as it's going to take quite some time before bitcoin starts to eat into their profits but I hope its sooner rather than later. I think people are always going to need banks though but bitcoin will likely flourish in parts of the world where people do not have access to a bank.

Yes it is a blessing for those who don't have bank accounts, it would surely attract them towards bitcoins, and as of today we even don't need credit cards for online purchases as bitcoin is taking care of that too, so it would surely affect the business of banks.

Actually I think bitcoin will be more difficult to understand for people who dont have bank accounts, since they would think that they dont really need it. I guess most of bitcoin users here are people who have bank accounts, and feel that the banks are suck with their high fees.

[eternalgloom]

Purely from a technological point of view, the blockchain is extremely interesting for banks, but bitcoin itself as a currency is quite a different story, I believe.
Bitcoin as a currency poses competition for them, but with current adoption rates, I don't think they have much to fear, yet. 

[BIT-Sharon]

Digital currency will accepted as payment methods, which is agreed by lots of companies on internet. This is a new challenge for the industry.

[robertgoss]

well the banks and everyone has seen the power of blockchain , how its transparent and also secure on the same time, bank may be threatened by bitcoin but no one in this world can deny that its tenchonlogy is really creative and powerfull so with time they have to accept it. its revolution

[bornil267645]

Banks know that they don't have the power to hold their clients accountable anymore. They know this but they can't do anything about it. They are helpless by the power of this virtual currency.

[Falconer]

Banks know that they don't have the power to hold their clients accountable anymore. They know this but they can't do anything about it. They are helpless by the power of this virtual currency.

There are many smart persons who working in bank, and surely they wont be hopeless and still keep silent in this situation. I'm pretty sure they are making many strategies to solve this problem.

[WhatTheGox]

Banks were frightened of bitcoin more at first and they still are, its just now they mostly are seeing they cant win as such so better just to join in or copy.

[xhoneyael]

in my opinion they are not frightened  they just dont want to gamble
because of price is not stable and also we cant not say that bitcoin will not last forever..

[Falconer]

in my opinion they are not frightened  they just dont want to gamble
because of price is not stable and also we cant not say that bitcoin will not last forever..

Actually I dont understand what the point from your opinion, whats going on with gambling?    Its not about gambling, but it is a rivalry between decentralization thing with the centralization one