Is bitcoin a theat to economy and bankers as will

[zahed]

Bitcoin is threatening for country economy.That's the reason some government declare illegal BTC.Also it's threat for Bankers they are thinking.But actually my thinking is very different with Bitcoin, it will be move towards the development.There is no scope for this to have a bad reaction.

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[budz0425]

Bitcoin is threatening for country economy.That's the reason some government declare illegal BTC.Also it's threat for Bankers they are thinking.But actually my thinking is very different with Bitcoin, it will be move towards the development.There is no scope for this to have a bad reaction.

Without any further analyzing the situation banks and the government for some countries are making a conclusion without any further investigation, I don't think that it is a threat look at some country just like Japan wherein they are actually doing their best to spread bitcoin all over their country.

[jaocoincrypto18]

This is still a question nowadays because not all country gives a go signal for bitcoin. They are taking a lot of things just to slow down the growth of this currency. If not eliminate the whole system. What can you say guys.

For me it is not because i believed that Bitcoin is a great help to an economy as long as they will regulate it so that it will not be use to ruin the economy of a certain country. Reducing unemployment in which it will result the purchasing power of the people to increase are already a huge help to make the economy to become strong and stable. In talking of banking system i believe that not all banks were threaten of Bitcoin existence because some banks are actually supporting Bitcoin currency like here in my country.

[denny27]

Basically I think most countries are still in the verge of decision or consideration related to certain concerns / each. Some say., that there will be decisions most countries follow up on the presence of bitcoin or cryptocurrency, the decision on whether to support it or not. Well, it's all back to the time will answer that, because everything can't be ascertained related to many things that can affect it, which's can be changed the decision of most countries.

[FUD Expert]

It's not threat to the economy but only on banks. Their users are going to be divided and instead of people letting their funds getting taken care of by bankers, they are going to keep it themselves and provide their own security because of cryptocurrencies.

[qwertyup23]

BitCoin seems to be designed as a weapon aimed at destroying central banks and money-issuing banks, with Libertarian political agenda in mind-to undermine the country's ability to collect taxes and monitor the financial transactions of its citizens.

IMO,i think it is not typically the reason why bitcoin has made.Bitcoins purpose is not to destroy banks,maybe blockchain technology and etc. is the reason why the banks are being threatened and afraid of losing their revenues
Bitcoin is not a threat to the economy,infact it helps the economy into their financial matter.

Bitcoin was made primarily to eliminate the need for a peer-to-peer transaction between individuals. In other words, convenience revolves around the reason for its existence in the world today. Its technology surpasses any electronic payment currently as the blockchain technology introduced a revolutionary way for transactions between people. Economically speaking, bitcoin has supported individuals into earning alternative income due to various services being offered.
For example, under the marketplace many people seek for specific services/products and they use bitcoin as the payment for such. Instead of having to do labour which requires strenuous effort, cryptocurrencies in general eliminates the need for that. The money earned by individuals through cryptocurrencies circulates around the economy which makes the market liquid.

It's not threat to the economy but only on banks. Their users are going to be divided and instead of people letting their funds getting taken care of by bankers, they are going to keep it themselves and provide their own security because of cryptocurrencies.

Banks do consider bitcoin as a threat into the investment perspective and not more than that. Banks are also considered as business, wherein they earn income through various loans (provided by bills, notes, etc.) and they utilize their income in order to control the money supply in the society. Having bitcoin in the picture, people would rather invest their money into this aspect than into banks- which makes it a threat to their business.

[Eleven86]

Yes it's a threat to economy and banks because if bitcoin enters in to the country it will dominate the local fiat. And there is no value for local currency. People forget to use local fiat when bitcoin enters in to the country. Due to these reasons banks and government are afraid to accept bitcoin. And the government has to face tax problem because there is notax for bitcoin. So people use obviously bitcoin instaed of local currency.

[Tigorss]

Bitcoin is threatening for country economy.That's the reason some government declare illegal BTC.Also it's threat for Bankers they are thinking.But actually my thinking is very different with Bitcoin, it will be move towards the development.There is no scope for this to have a bad reaction.

if you know what the situation is when the price goes up and down the banker's game might be inside that join the big investors when they know the price will go up when the big volumes and the price can go down when the volume is reduced now the game of loss begins there by manipulating the volume for the price they can set.

[Irvinn]

This is still a question nowadays because not all country gives a go signal for bitcoin. They are taking a lot of things just to slow down the growth of this currency. If not eliminate the whole system. What can you say guys.

Bitcoin poses no threat to the banking system in any state. Crypto currency only reduces the profit margins of bankers due to the fact that some people switch to using crypto currency and do not so often turn to banks. That is, there are still many financial issues, and first of all, obtaining loans that only banks can solve. At the same time, bitcoin can not replace the banking system, it is simply not for this purpose. And the whole of the crypto currency can not do this.
 At the same time, banks have become virtually a part of every state and therefore the state will protect the banking system, up to the prohibition of the crypto currency, if the crypto currency starts to conflict with the interests of banks.

[Aleh777]

No this is the wrong statement, when bitcoin announced as legal means then the economic growth of the country will be great. It cannot be threat to banks also because if government announces tax for bitcoin then it will be very useful to the growth of the country. Even bitcoin enters into the country local fiat cannot be disturbed. Because people use local fiat also, it has also a value. Due to these reasons many countries not accept bitcoin. But this is not true, if it is legal means then the country will move forward to the economic growth.

[Spaffin]

Bitcoin and other decentralized crypto currency were created to help people gain financial independence from government agencies and the banking system. Therefore, of course, this will not like these structures. States do not need decentralized crypto currency, it can allow this crypto currency to go on its territory, but it will never support it.

[rancidgash]

It's not threat to the economy but only on banks. Their users are going to be divided and instead of people letting their funds getting taken care of by bankers, they are going to keep it themselves and provide their own security because of cryptocurrencies.

But for me cash will be always in the world, crypto could be only the second thing that we will use in transactions so banks will be always in need for their customers, i don't think that economy or banks could fill anything if crypto will be developing like now.

[mornabo]

Bitcoin is threatening for country economy.That's the reason some government declare illegal BTC.Also it's threat for Bankers they are thinking.But actually my thinking is very different with Bitcoin, it will be move towards the development.There is no scope for this to have a bad reaction.

Thats right, that's what they say? what about big countries like US that legalize bitcoin? they don't see bitcoin as a threat they actually see bitcoin as a good opportunity to make a profit by giving taxes to users, it's all about the thoughts of governments of every country